Iron Eagle Group | Corporate News

Corporate News and Events

September 26 , 2011
Iron Eagle Transfers Membership Interests of Delta and Announces Increased Discussions with Multiple Acquisition Targets
NEW YORK, NY, September 26, 2011 (Marketwire) --- Iron Eagle Group, Inc. (OTCQB:IEAG), a construction and contracting services provider in the infrastructure, commercial, and government markets, today announced that Bruce Bookbinder, the CEO and previous owner of Delta Mechanical Contractors LLC ("Delta"), has reacquired 100% of the membership interests of Delta from Iron Eagle. Iron Eagle also announced that it has had increased discussions with multiple high quality acquisition targets focused on infrastructure construction. Full Text

August 16, 2011

Iron Eagle Announces $23.3 Million in Revenue for the First Six Months of 2011;

Iron Eagle Also Announces Effectiveness of Registration Statement, Reverse Split, NASDAQ Application, and Improved Corporate Governance
NEW YORK, NY, August 16, 2011 (Marketwire) --- Iron Eagle Group, Inc. (OTCQB: IEAGD for 20 business days and then back to OTCQB: IEAG), a construction and contracting services provider in the infrastructure, commercial, and government markets, today announced revenue of $11.1 million, for the three month period ended June 30, 2011, and $23.3 million for the six months ended June 30, 2011. These revenues were generated from Iron Eagle’s Delta Mechanical Contractor division. Delta is a leading mechanical contractor and regional HVAC, plumbing and fire protection subcontractor. All financials, including revenue, relating to Delta only include results starting from January 21, 2011, the date Iron Eagle completed its acquisition of Delta. Full Text

July 13, 2011
Iron Eagle Group (IEAG) Announces Over $10,000,000 in New Contracts for the Three Months Ended June 30, 2011
NEW YORK, July 13, 2011 (Marketwire) -- Iron Eagle Group, Inc. (OTCQB: IEAG), a construction and contracting services provider in the infrastructure, commercial, and government markets, today announced its wholly owned subsidiary, Delta Mechanical, has been awarded a number of new contracts totaling approximately $10.8 million. Full Text

April 6 , 2011
Leading Senators Propose Multi Billion Dollar US Infrastructure Bank
NEW YORK, April 6, 2011 (MARKET WIRE) -- Iron Eagle Group, Inc. (OTCQB: IEAG) ("Iron Eagle"), a construction and contracting services provider in both the infrastructure, commercial, and government markets, announced today that as a result of aging roads, rails, airports, and seaports, Senator John Kerry proposed a plan that would pair public and private funding sources for a fresh and massive investment in American infrastructure. Full Text

March 30 , 2011
Iron Eagle Group (IEAG) Wins $5.9 Million Contract to Design and Build LEED Certified Facility
NEW YORK, March 30, 2011 (MARKET WIRE) -- Iron Eagle Group, Inc. (OTCQB: IEAG) ("Iron Eagle"), a construction and contracting services provider in both the infrastructure, commercial, and government markets, through its subsidiary Delta Mechanical Contractors, today announced it was recently awarded an $5.9 million HVAC, plumbing and fire protection contract by Absher Construction Company. This project is expected to commence in the summer of 2011 and be completed during the summer of 2012. Full Text

February 1, 2011
Iron Eagle Group (IEAG) Announces $55,000,000 of Projected Revenue for Delta
New York, NY – February 1, 2011 - Iron Eagle Group, Inc. (OTC: IEAG) (“Iron Eagle”), a
construction and contracting services provider in both the commercial and government markets, today announced that its recent acquisition of Delta Mechanical Contractors LLC ("Delta") is expecting revenue and EBITDA for the twelve months ended December 2011 of $55,000,000 and $2,750,000 to $3,250,000 respectively. This projection is based upon a combination of historical performance, economic environment, and current backlog. Full Text

January 25, 2011
Iron Eagle Group (IEAG) Completes Acquisition of Delta Mechanical Contractors LLC
New York, NY – January 25, 2011 - Iron Eagle Group, Inc. (OTC: IEAG) (“Iron Eagle”), a
construction and contracting services provider in both the commercial and government markets, today announced that it has completed the acquisition of the membership interests of Delta Mechanical Contractors LLC ("Delta"). Full Text

November 29, 2010
Iron Eagle Group (IEAG) Announces Changes in Corproate Management
New York, NY – November 29, 2010 - Iron Eagle Group, Inc. (OTCQB: IEAG) today
announced that it has appointed Joseph LoCurto to the Board of Directors and Jed Sabio as
Executive Vice President of Business Development. Full Text

September 20 , 2010
Iron Eagle Group (IEAG) Engages Leading Middle Market Invetment Bankers
New York, NY – September 20, 2010 - Iron Eagle Group, Inc. (OTCQB: IEAG) today announced that a New York based leader in middle market investment banking, has been retained as the Company’s Investment Bankers to raise $25 million for acquisitions and working capital. Full Text

August 26 , 2010
Iron Eagle Group (IEAG) Announces Satisfaction of Performance Obligations Per January Exchange Agreement
New York, NY – August 26, 2010 - Iron Eagle Group, Inc. (OTCQB: IEAG) today announced that the remaining performance obligation required under the January 2010 exchange agreement between Iron Eagle Group, a Nevada corporation, its shareholders, and Iron Eagle Group, Inc. (formerly Pinnacle Resources, Inc.), a Delaware corporation, has been satisfied. Full Text

July 16, 2010
Iron Eagle Group (IEAG) Announces Appointment of Joseph E. Antonini, Former Director of Shell Oil, Chrysler, and Kmart, to the Board of Directors
New York, NY – July 16, 2010 - Iron Eagle Group, Inc. (OTCQB: IEAG) today announced that it has appointed Joseph E. Antonini to the Board of Directors. Full Text

July 13, 2010
Iron Eagle Group (IEAG) Announces Reverse Stock Split of 1-for-40
New York, NY – July 13, 2010, Effective today, July 13, 2010, the common stock shares of Iron Eagle Group, Inc. (OTCQB: IEAG), a provider of construction and contracting services in both the commercial and government markets, have been split 1-for-40. Full Text

June 22, 2010
Iron Eagle Group (IEAG) Announces Appointment of Steven S. Antebi as a Strategic Advisor to the Company
New York, NY – June 22, 2010 - Iron Eagle Group, Inc. (OTCQB: IEAG) today announced that it has appointed Steven S. Antebi as a Strategic Advisor to the Company. Full Text

June 15, 2010
Iron Eagle Group (IEAG) Announces Appointment of Gary J. Giulietti to the Board of Directors
New York, NY – June 15, 2010 - Iron Eagle Group, Inc. (OTCQB: IEAG) today announced that it has appointed Gary J. Giulietti to the Board of Directors. Full Text

June 9 , 2010
Iron Eagle Group (IEAG) Announces Appointment of Michael J. Bovalino as Chief Executive Officer and Eric J. Hoffman as Chief Financial Officer
New York, NY – June 9, 2010 - Iron Eagle Group, Inc. (OTCQB: IEAG) today announced today that it has appointed Michael J. Bovalino as Chief Executive Officer and Eric J. Hoffman as Chief Financial Officer. Full Text

May 5, 2010
Iron Eagle Group (IEAG) Listing Upgraded to New OTCQB Market
New York, NY – May 5, 2010 - Iron Eagle Group, Inc. (OTCQB: IEAG) today announced a listing on the new OTCQB market introduced last month to better distinguish OTC securities that are registered and reporting with U.S. regulators. Full Text

May 3, 2010
Pinnacle Resources, Inc. Announces Name Change to Iron Eagle Group, Inc.
New York, NY – May 3, 2010 – Pinnacle Resources, Inc. announced today that it has formally changed its legal name to Iron Eagle Group, Inc., has been assigned the new symbol of OTCQB: IEAG), and redomiciled to Delaware. Full Text

January 15, 2010
Pinnacle Resources Announces Appointment of New Chief Financial Officer and Director
Englewood, Colorado, January 15, 2010 -- Pinnacle Resources (OTC Pink Sheets: PNRR.PK) (“Pinnacle” or the “Company”) announced today that it has appointed Jason Shapiro as Chief Financial Officer and Director. Full Text

January 15, 2010
Pinnacle Resources Announces Acquisition of Iron Eagle Group
Englewood, Colorado, January 15, 2010 -- Pinnacle Resources, Inc. (OTC Pink Sheets: PNRR.PK) (“Pinnacle”), today announced it has entered into an agreement to acquire Iron Eagle Group (“Iron Eagle”), a company founded by a coalition of senior managers to provide construction and contracting services. Full Text

Iron Eagle Group, Inc. – SEC Filings
Click link to view all filings.

Iron Eagle had a $9,000,000 Seller Note related to the acquisition of Delta in January 2011 that was ultimately due on September 16, 2011. Iron Eagle had planned to raise the capital to repay the Seller Note through public and private markets. Due to market conditions, Iron Eagle was unable to raise the capital by the due date and Mr. Bookbinder exercised his right to revert 100% of the membership interests back to him which also simultaneously extinguished the $9,000,000 Seller Note. In the meantime, Iron Eagle, Mr. Bookbinder, and private investors are in discussions regarding the reacquisition of Delta by Iron Eagle.

Iron Eagle also announced that it has had increased discussions with multiple high quality acquisition targets focused on infrastructure construction. The management of Iron Eagle has reviewed and previously worked with these companies for an average of over 5 years. Each of these companies has over 5 years of profitability, strong audited balance sheets, top tier management teams who want to stay for at least 4 years, and are key players in their region. The total revenue for these companies is approximately $150,000,000 and $20,000,000 of EBITDA for the twelve months ending December 2011. This would be in addition to the revenue and EBITDA provided by the potential reacquisition of Delta. These financial results are provided by the management of the selling companies and are subject to additional due diligence. Due to confidentiality agreements, the names of the companies and terms of any agreements have not been disclosed. Note that there is no certainty that Iron Eagle will close these acquisitions.

About Iron Eagle Group, Inc.
Iron Eagle is a leading infrastructure company dedicated to the rebuilding of America’s infrastructure. Iron Eagle provides construction and contracting services in both the commercial and government markets. Iron Eagle's management consists of business leaders in construction, government contracting, defense, finance, operations, and business development. Management has a compelling strategic plan to capitalize on the annual $100 billion market opportunity in infrastructure construction created by government spending at the federal, state, and municipal levels throughout the United States. Through the experience and track records of its management team, along with a strong and diversified balance sheet, Iron Eagle believes it will have a major competitive advantage by being able to provide higher levels of construction surety bonds to support its infrastructure projects. Iron Eagle will further target additional growth opportunities through the highly focused bidding of federal, state, and municipal construction projects as well as working as a subcontractor to some of the multi-billion dollar prime contractors in the United States. Additionally, Iron Eagle expects to grow by making accretive acquisitions in segments of its industry with large growth potential.

For more information, please visit Iron Eagle's website at www.ironeaglegroup.com.

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August 16, 2011
Iron Eagle Announces $23.3 Million in Revenue for the First Six Months of 2011;

Iron Eagle Also Announces Effectiveness of Registration Statement, Reverse Split, NASDAQ Application, and Improved Corporate Governance
NEW YORK, NY, August 16, 2011 (Marketwire) --- Iron Eagle Group, Inc. (OTCQB: IEAGD for 20 business days and then back to OTCQB: IEAG), a construction and contracting services provider in the infrastructure, commercial, and government markets, today announced revenue of $11.1 million, for the three month period ended June 30, 2011, and $23.3 million for the six months ended June 30, 2011. These revenues were generated from Iron Eagle’s Delta Mechanical Contractor division. Delta is a leading mechanical contractor and regional HVAC, plumbing and fire protection subcontractor. All financials, including revenue, relating to Delta only include results starting from January 21, 2011, the date Iron Eagle completed its acquisition of Delta.

Company Highlights:

Delta's project backlog is approximately $32.3 million and $34.6 million as of June 30, 2011 and as of July 11, 2011, respectively.
The outlook for Federal and State government contracts remain strong.
Iron Eagle announced that Mr. Joseph Antonini has assumed the role of chairman of the board of directors. Mr. Antonini is the former Chairman and CEO of Kmart Corporation and former director of Shell Oil.
Strong opportunities emerging for organic and acquisition growth.

Jason Shapiro, CEO of Iron Eagle, stated, “Our successful acquisition and integration of Delta Mechanical, coupled with management’s strategic plan for its future expansion through internal growth and additional acquisitions have positioned us to become on of the leaders in the governmental contract marketplace. Management is focused on leveraging our $34 million project pipeline while bidding on additional large-scale infrastructure opportunities. We also intend to transition to a senior exchange in the near future in order to increase our visibility within the investment community. Iron Eagle is well positioned to grow our revenues, complete additional acquisitions in the heavy construction sector, and increase our earnings to improve shareholder value.”

Financial Results for the Three Month Period Ended June 30, 2011
Total revenues for the quarter ended June 30, 2011 were $ 11,105,900. Cost of revenues for the quarter ended June 30, 2011 was $ 10,587,700. Gross profit for the quarter ended June 30, 2011 was $518,200, or 4.7% of revenues.

Financial Results for the Six Month Period Ended June 30, 2011
Total revenue for six months ended June 30, 2011 was $23,353,400. Cost of revenue for the six months ended June 30, 2011 was $21,999,600. Gross profit for the six months ended June 30, 2011 was $1,353,800, or 5.8% of revenues.

Balance Sheet:
Iron Eagle had cash and equivalents of $2.7 million at the end of the period, and current accounts receivables of $12.3 million.

Additional information:
For additional information regarding Iron Eagle’s results for the three month and six month period ended June 30, 2011, please refer to the 10-Q filed iron Eagle on August 15, 2011.

Subsequent to the End of the Quarter:

Registration Statement: On August 12, 2011, Iron Eagle’s registration statement filed with the Securities and Exchange Commission was declared effective. The registration statement related to an offering up to 3 million common shares at $5.00 a share on a post-reverse split basis for a total of up to $15.0 million. The proceeds of the offering are to retire the seller note related to the purchase of Delta, to increase the surety capacity of Iron Eagle, and to increase working capital.
Reverse Split: On August 16, 2011, Iron Eagle’s 8-for-1 reverse split of its outstanding common stock will be effective. Our common shares will trade on the OTCQB under the symbol IEAGD for the next 20 business days and then revert back to IEAG. Concurrent with the symbol change, Iron Eagle has been assigned a new CUSIP number – 462824 301.
NASDAQ Application: Iron Eagle has applied to up list to the NASDAQ exchange to be effective concurrent with the proposed offering and is currently waiting for comments from NASDAQ.
Corporate Governance: Iron Eagle implemented improved corporate governance including a code of ethics and the following committees, each consisting solely of independent directors: Audit Committee, Compensation Committee, Corporate Responsibility Committee, Executive Committee, Finance Committee Charter, and Governance Committee.

About Iron Eagle Group, Inc.
Iron Eagle is a leading infrastructure company dedicated to the rebuilding of America’s infrastructure. Iron Eagle provides construction and contracting services in both the commercial and government markets. Iron Eagle's management consists of business leaders in construction, government contracting, defense, finance, operations, and business development. Management has a compelling strategic plan to capitalize on the $100 billion market opportunity in infrastructure construction created by annual government spending at the federal, state, and municipal levels throughout the United States. Through the experience and track records of its management team, along with a strong and diversified balance sheet, Iron Eagle believes it will have a major competitive advantage by being able to provide higher levels of construction surety bonds to support its infrastructure projects. Iron Eagle will further target additional growth opportunities through the highly focused bidding of federal, state, and municipal construction projects as well as working as a subcontractor to some of the multi-billion dollar prime contractors in the United States. Additionally, Iron Eagle expects to grow by making accretive acquisitions in segments of its industry with large growth potential.

For more information, please visit Iron Eagle's website at www.ironeaglegroup.com.

Safe Harbor Statement
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release contains statements that are forward-looking, such as statements related to the future anticipated direction of the industry, plans for future expansion, various business development activities, planned or required capital expenditures, future funding sources, anticipated sales growth, and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by, or on behalf of, the company. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, and domestic and global economic conditions.

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July 13, 2011
Iron Eagle Group (IEAG) Announces Over $10,000,000 in New Contracts for the Three Months Ended June 30, 2011
NEW YORK, July 13, 2011 (Marketwire) -- Iron Eagle Group, Inc. (OTCQB: IEAG), a construction and contracting services provider in the infrastructure, commercial, and government markets, today announced its wholly owned subsidiary, Delta Mechanical, has been awarded a number of new contracts totaling approximately $10.8 million.

Since June 30, 2011, an additional $2.3 million in contracts has been awarded to Delta Mechanical. Delta Mechanical’s backlog approximated $32.3 million and $34.6 million as of June 30, 2011 and July 11, 2011, respectively.

“We are excited about the significant increase in new projects we have been awarded over the last few weeks,” stated Jason Shapiro, CEO of Iron Eagle. “We are seeing an increased number of new funded government and institutional projects and our team is actively pursuing a number of new infrastructure projects that should begin in late 2011. Our management team has positioned Iron Eagle to capitalize on future opportunities in the heavy construction marketplace.”

Iron Eagle also announced that Mr. Joseph Antonini has assumed the role of chairman of the board of directors. Mr. Joseph LoCurto, the former chairman, has resigned to pursue other endeavors.

Mr. Antonini is the former chairman, president and CEO of Kmart Corporation. Mr. Antonini has actively led and served on corporate boards of a wide diversity of industry leaders such as Shell Oil Company, Chrysler Corporation, Polaroid Corporation, Ziebart International, NBD Bank (ultimately acquired and merged into Bank One and then JPMorgan Chase), Michigan Bell, Economic Club of Detroit, and served as a trustee for the National Italian American Foundation. Mr. Antonini currently serves on the board of directors of Andretti Wine Group. Mr. Antonini has held key positions that include chairman of the National Retail Federation and the National Minority Supplier Development Council and is a recipient of the Horatio Alger Award. A native of West Virginia, Mr. Antonini holds a bachelor of science degree from West Virginia University. Mr. Antonini was recognized by West Virginia University as one of its most distinguished alumni.

About Iron Eagle Group, Inc.
Iron Eagle provides construction and contracting services in both the commercial and government markets. Iron Eagle’s management consists of business leaders in construction, government contracting, defense, finance, operations, and business development. Management has a compelling strategic plan to capitalize on the large $100 billion market opportunity in infrastructure construction created by the federal government’s stimulus package as in addition to the billions of federal funds that have been approved to be spent at the state level for projects throughout the United States. Through the experience and track records of its management team, along with a strong and diversified balance sheet, Iron Eagle believes it will have a major competitive advantage by being able to provide higher levels of construction surety bonds. Iron Eagle will further target additional growth opportunities through the highly focused bidding of federal, state, and municipal construction projects as well as working as a subcontractor to some of the multi-billion dollar prime contractors in the United States.

For more information, please visit Iron Eagle’s website at www.ironeaglegroup.com.

Safe Harbor Statement
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward- looking statements. Certain information included in this press release contains statements that are forward-looking, such as statements related to the future anticipated direction of the industry, plans for future expansion, various business development activities, planned or required capital expenditures, future funding sources, anticipated sales growth, and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by, or on behalf of, the company. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, and domestic and global economic conditions.

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April 6 , 2011
Leading Senators Propose Multi Billion Dollar US Infrastructure Bank
NEW YORK, April 6, 2011 (MARKET WIRE) -- Iron Eagle Group, Inc. (OTCQB: IEAG) ("Iron Eagle"), a construction and contracting services provider in both the infrastructure, commercial, and government markets, announced today that as a result of aging roads, rails, airports, and seaports, Senator John Kerry proposed a plan that would pair public and private funding sources for a fresh and massive investment in American infrastructure.

The Massachusetts Democrat made the proposal with Senator Kay Bailey Hutchison, a Republican from Texas, and Mark R. Warner, a Virginia Democrat. The bipartisan group includes key Democrats and Republicans and has united two historic rivals by being supported by both the AFL-CIO labor federation and the U.S. Chamber of Commerce.

“Reliable, modern infrastructure isn’t a luxury — it’s the lifeblood of our economy, the key to connecting our markets, moving people, products, information and energy, and the key to generating and sustaining millions of jobs for American workers,’’ Kerry said. The legislation would provide loans and loan guarantees for large energy, water, and transportation projects through an independent entity called the American Infrastructure Financing Authority.

Specifically, the proposed legislation is intended to provide loans and loan guarantees for large energy, water, and transportation projects through an independent entity called the American Infrastructure Financing Authority. The new agency would initially be financed with $10 billion from the federal government and would ultimately become self-sustaining, through anticipated commitments of $640 billion in private-sector investment over 10 years. Tad DeHaven, a budget analyst with the libertarian Cato Institute, said the idea may have some momentum now because of the budget-cutting mood on Capitol Hill along with lawmakers’ appetites for transportation projects.

“Our country is falling further and further behind every day,’’ Senator Trumka said. “We need to be investing in America.’’

About Iron Eagle Group, Inc.
Iron Eagle provides construction and contracting services in both the commercial and government markets. Iron Eagle’s management consists of business leaders in construction, government contracting, defense, finance, operations, and business development. Management has a compelling strategic plan to capitalize on the large $100 billion market opportunity in infrastructure construction created by the federal government’s stimulus package as in addition to the billions of federal funds that have been approved to be spent at the state level for projects throughout the United States. Through the experience and track records of its management team, along with a strong and diversified balance sheet, Iron Eagle believes it will have a major competitive advantage by being able to provide higher levels of construction surety bonds. Iron Eagle will further target additional growth opportunities through the highly focused bidding of federal, state, and municipal construction projects as well as working as a subcontractor to some of the multi-billion dollar prime contractors in the United States.

For more information, please visit Iron Eagle’s website at www.ironeaglegroup.com.

Safe Harbor Statement
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward- looking statements. Certain information included in this press release contains statements that are forward-looking, such as statements related to the future anticipated direction of the industry, plans for future expansion, various business development activities, planned or required capital expenditures, future funding sources, anticipated sales growth, and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by, or on behalf of, the company. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, and domestic and global economic conditions.

Top

March 30 , 2011
Iron Eagle Group (IEAG) Wins $5.9 Million Contract to Design and Build LEED Certified Facility
NEW YORK, March 30, 2011 (MARKET WIRE) -- Iron Eagle Group, Inc. (OTCQB: IEAG) ("Iron Eagle"), a construction and contracting services provider in both the infrastructure, commercial, and government markets, through its subsidiary Delta Mechanical Contractors, today announced it was recently awarded an $5.9 million HVAC, plumbing and fire protection contract by Absher Construction Company. This project is expected to commence in the summer of 2011 and be completed during the summer of 2012.

Based in Seattle, WA, Absher (www.abshernw.com) is a nationally recognized contractor that performs work on government properties ranging from Rhode Island to Hawaii. As part of this particular Newport, RI project, the Company is providing design/build services for a multi-story LEED Silver certified facility. LEED, or Leadership in Efficiency and Environmental Design, is a building certification program run by the U.S. Green Building Council, and is important as builders incorporate energy efficiencies into high tech construction design and builds.

“This contract is evidence of our ability to bid and win desirable government projects, and Iron Eagle continues to benefit from an increase in spending on infrastructure,” commented Joseph LoCurto, Chairman of the Board. “We have assembled a great team with the resources and capabilities to play a significant role in the rebuilding of our nation’s infrastructure and generate exceptional returns for our shareholders.”

In addition, Iron Eagle reports that it has completed $8.5 million of work for a construction project for the University of Rhode Island Biotech and Life Science Center. The Company was hired by Gilbane Building Company, a nationally recognized, Providence RI based, general contractor (www.gilbaneco.com) to install the Plumbing and HVAC Systems in this LEED Silver certified project.

About Iron Eagle Group, Inc.
Iron Eagle provides construction and contracting services in both the commercial and government markets. Iron Eagle’s management consists of business leaders in construction, government contracting, defense, finance, operations, and business development. Management has a compelling strategic plan to capitalize on the large $100 billion market opportunity in infrastructure construction created by the federal government’s stimulus package as in addition to the billions of federal funds that have been approved to be spent at the state level for projects throughout the United States. Through the experience and track records of its management team, along with a strong and diversified balance sheet, Iron Eagle believes it will have a major competitive advantage by being able to provide higher levels of construction surety bonds. Iron Eagle will further target additional growth opportunities through the highly focused bidding of federal, state, and municipal construction projects as well as working as a subcontractor to some of the multi-billion dollar prime contractors in the United States.

For more information, please visit Iron Eagle’s website at www.ironeaglegroup.com.

Safe Harbor Statement
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward- looking statements. Certain information included in this press release contains statements that are forward-looking, such as statements related to the future anticipated direction of the industry, plans for future expansion, various business development activities, planned or required capital expenditures, future funding sources, anticipated sales growth, and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by, or on behalf of, the company. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, and domestic and global economic conditions.

Top

February 1, 2011
Iron Eagle Group (IEAG) Announces $55,000,000 of Projected Revenue for Delta
New York, NY – February 1, 2011 - Iron Eagle Group, Inc. (OTC: IEAG) (“Iron Eagle”), a
construction and contracting services provider in both the commercial and government markets, today announced that its recent acquisition of Delta Mechanical Contractors LLC ("Delta") is expecting revenue and EBITDA for the twelve months ended December 2011 of $55,000,000 and $2,750,000 to $3,250,000 respectively. This projection is based upon a combination of historical performance, economic environment, and current backlog.

Delta is the leading regional subcontractor providing commercial and industrial installation of
plumbing, heating, ventilation and air conditioning and fire protection services in the regions of
Rhode Island, Southeastern Massachusetts and Eastern Connecticut

“In partnership with its General Contractors, Delta has consistently won many top contracts,
ranging from private sector construction such as the Mohegan Sun Casino, Flemings Steak
houses, and Carnegie Abbey in Newport, Rhode Island and government contracts such as
Federal Aviation Administration, Craig Army Reserve Center, and St Anne's Hospital,”
commented Joseph M. LoCurto, Chairman of the Board of Iron Eagle.

About Iron Eagle Group, Inc.
Iron Eagle provides construction and contracting services in both the commercial and
government markets. Iron Eagle’s management consists of business leaders in construction,
government contracting, defense, finance, operations, and business development. Management
has a compelling strategic plan to capitalize on the large $100 billion market opportunity in
infrastructure construction created by the federal government’s stimulus package as in addition
to the billions of federal funds that have been approved to be spent at the state level for projects
throughout the United States. Through the experience and track records of its management team,
along with a strong and diversified balance sheet, Iron Eagle believes it will have a major
competitive advantage by being able to provide higher levels of construction surety bonds. Iron
Eagle will further target additional growth opportunities through the highly focused bidding of
federal, state, and municipal construction projects as well as working as a subcontractor to some
of the multi-billion dollar prime contractors in the United States.

For more information, please visit Iron Eagle’s website at www.ironeaglegroup.com.

Safe Harbor Statement
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-
looking statements. Certain information included in this press release contains statements that
are forward-looking, such as statements related to the future anticipated direction of the
industry, plans for future expansion, various business development activities, planned or
required capital expenditures, future funding sources, anticipated sales growth, and potential
contracts. Such forward-looking information involves important risks and uncertainties that
could significantly affect anticipated results in the future and, accordingly, such results may
differ from those expressed in any forward-looking statements made by, or on behalf of, the
company. These risks and uncertainties include, but are not limited to, those relating to
development and expansion activities, dependence on existing management, financing activities,
and domestic and global economic conditions.

Top

January 25, 2011
Iron Eagle Group (IEAG) Completes Acquisition of Delta Mechanical Contractors LLC
New York, NY – January 25, 2011 - Iron Eagle Group, Inc. (OTC: IEAG) (“Iron Eagle”), a
construction and contracting services provider in both the commercial and government markets, today announced that it has completed the acquisition of the membership interests of Delta Mechanical Contractors LLC ("Delta").

Averaging in excess of $50,000,000 in annual revenues over the past five years, Delta is the
leading regional subcontractor providing commercial and industrial installation of plumbing,
heating, ventilation and air conditioning and fire protection services in the regions of Rhode
Island, Southeastern Massachusetts and Eastern Connecticut.

Bruce A. Bookbinder, Chief Executive Officer, President, and Founder of Delta, has executed a
long term contract with Iron Eagle and has become Chief Executive Officer and President of
Delta Mechanical Group, LLC, a 100% owned division of Iron Eagle.

“Delta is the number one subcontractor in their region, with a long history of profitability,
quality work, and a tremendous reputation among its peers,” commented Joseph LoCurto,
Chairman of Iron Eagle. “I was impressed by Delta’s workforce with over 100 highly qualified
field employees and led by a seasoned management staff of 25 employees.”

“I was extremely impressed by Iron Eagle’s management team, industry expertise, and growth
strategy,” stated Bruce A. Bookbinder, Chief Executive Officer, President, and Founder of Delta.
He continued, “Delta is looking forward to working with Iron Eagle and their extensive industry
relationships. They will add to Delta’s high level of customer service, increase operational
efficiencies, and further joint venture and organic growth opportunities.”

“Delta represents the ideal acquisition for Iron Eagle,” commented Gary Giulietti, a member of
the Board of Directors of Iron Eagle. “This furthers Iron Eagle’s mission of acquiring leading
high quality construction companies and capitalizing on the $100+ billion market opportunity
created by the federal government’s stimulus package as well as funds that are flowing down to
the state and municipal levels for projects throughout the US. I congratulate our management
team, led by Joseph LoCurto, Jed Sabio, and Jason Shapiro, on executing another milestone for
Iron Eagle.”

Iron Eagle has let all other previously announced letters of intent and definitive agreements
expire to allow the Company to focus more on the Delta transaction and other regional leaders
and best in class construction companies.

About Iron Eagle Group, Inc.
Iron Eagle provides construction and contracting services in both the commercial and
government markets. Iron Eagle’s management consists of experts in construction, government
contracting, defense, finance, operations, and business development. Management has created a
compelling strategic plan to capitalize on the large market opportunity created by the federal
government’s stimulus package as well as funds that are flowing down to the state level for
projects throughout the United States. Through the public capital markets, Iron Eagle believes it
will have the access to capital to support increased needs for construction surety bonds. By
executing on its growth strategy, Iron Eagle can achieve significant growth through highly
focused targeting of federal, state, and municipal construction projects.

For more information, please visit Iron Eagle’s website at www.ironeaglegroup.com.

Safe Harbor Statement
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-
looking statements. Certain information included in this press release contains statements that
are forward-looking, such as statements related to the future anticipated direction of the
industry, plans for future expansion, various business development activities, planned or
required capital expenditures, future funding sources, anticipated sales growth, and potential
contracts. Such forward-looking information involves important risks and uncertainties that
could significantly affect anticipated results in the future and, accordingly, such results may
differ from those expressed in any forward-looking statements made by, or on behalf of, the
company. These risks and uncertainties include, but are not limited to, those relating to
development and expansion activities, dependence on existing management, financing activities,
and domestic and global economic conditions.

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November 29, 2010
Iron Eagle Group (IEAG) Announces Changes in Corproate Management
New York, NY – November 29, 2010 - Iron Eagle Group, Inc. (OTCQB: IEAG) today
announced that it has appointed Joseph LoCurto to the Board of Directors and Jed Sabio as
Executive Vice President of Business Development.

Mr. LoCurto will be drawing upon his four decades of mergers and acquisition leadership in the
construction field. Mr. LoCurto has served as a Founder, CEO, President, and COO of
Regional, National, and International construction management companies, ranging from $20
million to in excess of $1.8 billion in annual revenues.

Those companies include three divisions of the multinational construction giant Skanska
(Slattery, Gottlieb, and Atlantic), Gottlieb Heavy Industries, NAB Construction and GreenStar /
WDF, Inc. His notable projects include the rehabilitation of Yankee Stadium, Brooklyn Bridge,
Statue of Liberty, Jacob Javits Convention Center, World Trade Center, and Newtown Creek
WPCP. His accomplishments in the areas of heavy public works include projects for the MTA’s
New York City Transit, the New York City Department of Environmental Protection, the New
York City Department of Transportation, the Dormitory Authority of the State of New York, the
New York City Department of Design and Construction, and the New York City School
Construction Authority. Mr. LoCurto has been an active member in the industry. He is past
president of the Subcontractors Trade Association, a member of the ASME and the MOLES.
Throughout his career, he has focused on employing safe practices, surrounding himself with
qualified, knowledgeable people and creating profitable joint venture partnerships. Mr. LoCurto
holds both Electrical and Mechanical Engineering degrees.

In addition, the Company announced the appointment of Mr. Jed Sabio as Executive Vice
President of Business Development. Mr. Sabio is a financial professional with over 24 years of
progressively responsible analytic and managerial positions. For the past 21 years Mr. Sabio has
worked for National Grid, NYSE-listed company, and its predecessor companies (KeySpan
Energy Corporation and The Brooklyn Union Gas Company), the last two years as a full-time
consultant. His most recent positions at National Grid included Director of Mergers and
Acquisitions and Director of Finance. In his capacity as Director of M&A he lead project
valuation, coordination of extensive due diligence on all proposed investments, mergers,
acquisitions, divestitures, joint ventures, start-up ventures and other related investments of the
corporation and its subsidiaries, he has negotiated deal structure and remuneration, and he
provide financial counsel through deal completion. In a four year period, through the acquisition of engineering, mechanical, electrical, plumbing, and general contractors, he developed National
Grid’s subsidiary from an in-house $40 million operating unit to over a billion dollar highly
profitable company. As National Grid exited that sector, Mr. Sabio was also charged with de-
consolidating and the divesting of nearly 30 companies that comprised the business unit. Mr.
Sabio holds a MBA in finance from St. John’s University.

“Iron Eagle represents a tremendous opportunity in the current economic environment” stated
Joseph LoCurto, acting Chairman for the Board of Directors for Iron Eagle Group. He added: “I
am looking forward to actively sharing my experience with the Iron Eagle team as the Company
continues to implement and execute its acquisition and organic strategies.”

“I believe that Iron Eagle is the right company in the right place at the right time,” commented
Jed Sabio, Executive Vice President of Business Development for Iron Eagle Group. He further
added “I am confident that there is no other company as uniquely positioned as Iron Eagle for
success.”

Iron Eagle also announced the appointment of Jason M Shapiro as Chief Financial Officer. Mr.
Shapiro is a founder and Director of Iron Eagle. The Company also announced that these
management changes shall be replacing Michael Bovalino as CEO, and Eric Hoffman as CFO,
who shall be pursuing other personal interests.

About Iron Eagle Group, Inc.
Iron Eagle provides construction and contracting services in both the commercial and
government markets. Iron Eagle’s management consists of experts in construction, government
contracting, defense, finance, operations, and business development. Management has created a
compelling strategic plan to capitalize on the large market opportunity created by the federal
government’s stimulus package as well as funds that are flowing down to the state level for
projects throughout the United States. Through the public capital markets, Iron Eagle believes it
will have the access to capital to support increased needs for construction surety bonds. By
executing on its growth strategy, Iron Eagle can achieve significant growth through highly
focused targeting of federal, state, and municipal construction projects.

For more information, please visit Iron Eagle’s website at www.ironeaglegroup.com.

Safe Harbor Statement
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-
looking statements. Certain information included in this press release contains statements that
are forward-looking, such as statements related to the future anticipated direction of the
industry, plans for future expansion, various business development activities, planned or
required capital expenditures, future funding sources, anticipated sales growth, and potential
contracts. Such forward-looking information involves important risks and uncertainties that
could significantly affect anticipated results in the future and, accordingly, such results may
differ from those expressed in any forward-looking statements made by, or on behalf of, the
company. These risks and uncertainties include, but are not limited to, those relating to
development and expansion activities, dependence on existing management, financing activities,
and domestic and global economic conditions.

Top

September 20 , 2010
Iron Eagle Group (IEAG) Engages Leading Middle Market Invetment Bankers

New York, NY – September 20, 2010 - Iron Eagle Group, Inc. (OTCQB: IEAG) today announced that a New York based leader in middle market investment banking, has been retained as the Company’s Investment Bankers to raise $25 million for acquisitions and working capital.

The investment bank is a full service boutique brokerage operation with middle market corporate
finance, research, and valuation services. They are also a leader in investment banking and
sourcing acquisition capital through its broad institutional and retail networks. With over 200
registered representatives in 8 corporate locations. The investment bank also actively manages
over $2 billion of retail customer assets, has clients in all 50 states and overseas, and is a member
of the FINRA/SIPC.

Mike Bovalino, Chief Executive Officer of Iron Eagle Group, commented that “We were
immediately impressed by the professionalism, expertise, and track record that the firm and its
team exemplify. We believe that by bringing them into the Iron Eagle Team, we will continue to
execute and implement our acquisition strategy to become a leading infrastructure construction
and services company.”

This press release is only an announcement and is not meant to constitute and offer to buy or sell
securities. There are many risks with the proposed offering and there is no guarantee that it will
be successful. The Company will issue an 8K upon the closing of a financing detailing all the
material terms.

About Iron Eagle Group, Inc.
Iron Eagle provides construction and contracting services in both the commercial and
government markets. Iron Eagle’s management consists of experts in construction, government
contracting, defense, finance, operations, and business development. Management has created a
compelling strategic plan to capitalize on the large market opportunity created by the federal
government’s stimulus package as well as funds that are flowing down to the state level for
projects throughout the United States. Through the public capital markets, Iron Eagle believes it
will have the access to capital to support increased needs for construction surety bonds. By
executing on its growth strategy, Iron Eagle can achieve significant growth through highly
focused targeting of federal, state, and municipal construction projects.

For more information, please visit Iron Eagle’s website at www.ironeaglegroup.com

Safe Harbor Statement
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-
looking statements. Certain information included in this press release contains statements that
are forward-looking, such as statements related to the future anticipated direction of the
industry, plans for future expansion, various business development activities, planned or
required capital expenditures, future funding sources, anticipated sales growth, and potential
contracts. Such forward-looking information involves important risks and uncertainties that
could significantly affect anticipated results in the future and, accordingly, such results may
differ from those expressed in any forward-looking statements made by, or on behalf of, the
company. These risks and uncertainties include, but are not limited to, those relating to
development and expansion activities, dependence on existing management, financing activities,
and domestic and global economic conditions.

Top

August 26 , 2010
Iron Eagle Group (IEAG) Announces Satisfaction of Performance Obligations Per January Exchange Agreement

New York, NY – August 26, 2010 - Iron Eagle Group, Inc. (OTCQB: IEAG) today announced that the remaining performance obligation required under the January 2010 exchange agreement between Iron Eagle Group, a Nevada corporation, its shareholders, and Iron Eagle Group, Inc. (formerly Pinnacle Resources, Inc.), a Delaware corporation, has been satisfied.

The consideration for the transaction, the share exchange, was completed in January. At that time shareholders of Iron Eagle Nevada exchanged their shares for shares of Iron Eagle (formerly Pinnacle Resources). As part of the agreement, i) the shares previously held in escrow have been released and ii) Glen Gamble, former chairman of the board and Dutch Hildebrand, former director and chief financial officer have resigned as officers and directors of Iron Eagle.

Glen Gamble commented that “it was the right time to hand off the baton to the new Iron Eagle management team. They are indeed professionals and well qualified to implement the business plan for going forward into the heavy construction arena”.

Dutch Hildebrand added, “Iron Eagle’s new, innovative business plan will attract interest from the investing public, and that its new well-known officers and directors will enhance Iron Eagle’s access to the investment banking community.”

“This is a big day for Iron Eagle. It provides further evidence that Iron Eagle has continued to deliver on its promises and continues to build momentum,” commented Jason Shapiro, co-founder of the former Iron Eagle Nevada and current director, and executive vice president of corporate strategy for Iron Eagle. He further added “We have been privileged to work with Mr. Hildebrand and Mr. Gamble. We are appreciative that they will stay involved as consultants to Iron Eagle during the transition.”

About Iron Eagle Group, Inc.
Iron Eagle provides construction and contracting services in both the commercial and government markets. Iron Eagle’s management consists of experts in construction, government contracting, defense, finance, operations, and business development. Management has created a compelling strategic plan to capitalize on the large market opportunity created by the federal government’s stimulus package as well as funds that are flowing down to the state level for projects throughout the United States. Through the public capital markets, Iron Eagle believes it will have the access to capital to support increased needs for construction surety bonds. By executing on its growth strategy, Iron Eagle can achieve significant growth through highly focused targeting of federal, state, and municipal construction projects.

For more information, please visit Iron Eagle’s website at www.ironeaglegroup.com.

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July 16, 2010
Iron Eagle Group (IEAG) Announces Appointment of Joseph E. Antonini, Former Director of Shell Oil, Chrysler, and Kmart, to the Board of Directors

New York, NY – July 16, 2010 - Iron Eagle Group, Inc. (OTCQB: IEAG) today announced that it has appointed Joseph E. Antonini to the Board of Directors.

“On behalf of Iron Eagle Group, I am honored to welcome Joseph Antonini to the Board of Directors,” stated Jason Shapiro, Co-Founder, Director, and Executive Vice President of Corporate Strategy for Iron Eagle Group. “Joe brings extensive corporate leadership to the company, including expertise in financing, negotiating complex contracts and driving growth.” In addition, Iron Eagle will benefit from Joe’s active leadership as a board member of major global companies including Chrysler, Kmart and Shell Oil. His corporate governance experience will further assist Iron Eagle on its path toward listing on a senior exchange, such as the NASDAQ or AMEX. While Chairman, President and CEO of Kmart, Joe successfully introduced Martha Stewart, purchased The Sports Authority when it was only a 10-store chain, bought OfficeMax, and acquired Borders, Inc., when it was only a 22-store chain. These were all significantly grown and eventually successfully IPO’ed.”

Joseph E. Antonini is the former Chairman, President and CEO of Kmart Corporation, where he worked for over 30 years. At Kmart, Joe rose from his humble beginnings as a management trainee, at the then S.S. Kresge Company in 1964, to Chairman of the giant retail chain in 1987. He is credited with leading Kmart into a new era by launching store renewal programs of unparalleled scope in retail history. They included expansion of the retailer's specialty store concepts, along with introduction of the Kmart Super Center, both contributors to setting new sales and profit records. In the past, Joe has been awarded key positions that include Chairman of the National Retail Federation and the National Minority Supplier Development Council. He has also served on the Board of Directors of Polaroid Corporation, Chrysler Corporation, Shell Oil Company, Ziebart International, NBD Bank (ultimately acquired and merged into Bank One and then JPMorgan Chase), Michigan Bell, Economic Club of Detroit, and as a Trustee for the National Italian American Foundation. He is also a recipient of the Horatio Alger Award. A native of West Virginia, Joe holds a Bachelor of Science degree from West Virginia University. In 1992 he was recognized by the University as its most distinguished alumni.

For more information on the company, please visit the Company’s website at www.ironeaglegroup.com.

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July 13, 2010
Iron Eagle Group (IEAG) Announces Reverse Stock Split of 1-for-40
New York, NY – July 13, 2010, Effective today, July 13, 2010, the common stock shares of Iron Eagle Group, Inc. (OTCQB: IEAG), a provider of construction and contracting services in both the commercial and government markets, have been split 1-for-40.

Iron Eagle shares will trade on the OTCQB under the symbol IEAGD for the next 20 business days and then revert back to IEAG. Concurrent with the symbol change, Iron Eagle has been assigned a new CUSIP number – 462824202.

“This action should broaden Iron Eagle’s appeal to institutional and retail investors, and strengthen the company’s acquisition strategy,” said Jason Shapiro, Co-Founder, Director, and Executive Vice President of Corporate Strategy for Iron Eagle Group. “We believe the reverse stock split will better position our company to apply for a listing on a national securities market or exchange. Our goal is to work towards meeting these listing standards, and today’s action places us one significant step closer to achieving that goal. The board believes that the reverse stock split will facilitate long term growth and increase shareholder value.”

Iron Eagle shareholders will receive one new share of Iron Eagle common stock for every forty (40) shares held with fractional shares being rounded up. The reverse split, which was approved by Iron Eagle shareholders in June 2008, will reduce the number of shares of outstanding common stock from approximately 406.0 million to approximately 10.1 million.

For more information on the company, please visit the Company’s website at www.ironeaglegroup.com.

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June 22, 2010
Iron Eagle Group (IEAG) Announces Appointment of Steven S. Antebi as a Strategic Advisor to the Company
New York, NY – June 22, 2010 - Iron Eagle Group, Inc. (OTCQB: IEAG) today announced that it has appointed Steven S. Antebi as a Strategic Advisor to the Company.

"The addition of Mr. Antebi to Iron Eagle's team ensures the company will continue to benefit from a diversity of knowledge and opinions. Steve’s forty years of success on Wall Street and experience with maximizing shareholder value facilitates a significant component of Iron Eagles continued growth…" said Michael Bovalino, Chief Executive Officer of Iron Eagle Group. He added “Having one of the leaders of the Wall Street Community on our team also grants Iron Eagle a competitive advantage due to Steve’s overwhelming track record of success.”

“Steven Antebi knowledge and expertise in corporate governance, capital markets, strategic planning, and business development will be a great benefit to our company and will help us build additional value for our shareholders," stated Jason Shapiro, Co-Founder and Director of Iron Eagle Group.

About Steven Antebi

Mr. Antebi is the President and Chairman of the Board of Maple Capital Management, an equity fund focused on investments in North America. He is also a member of the Board of Directors of Geovax, a NIH funded Company seeking a therapeutic solution and cure for A.I.D.S. and has served as Chairman of the Board of Epinex Diagnostics since 2009. Epinex applies expert diagnostic technology in the quantitative analysis of glycated albumen, a superior marker for diabetic control.

Mr. Antebi had a long tenure at Bear Stearns & Company in senior positions including institutional sales, trading of the firm's capital, investment banking, and syndicate. He started at Bear Stearns in 1973 as a limited partner and left the firm in 1991 as a shareholder and managing director.

Mr. Antebi has been a member of the Board of Governors of Cedars Sinai Hospital in Los Angeles for over ten years. Cedars Sinai is one of the largest hospital/research centers in the world. He is also involved with Coach for Kids, the arm of Cedars Sinai that provides mobile medical units, caring for inner city children, living below the poverty line.

Mr. Antebi has a BA from University of California, Los Angeles where he graduated Phi Beta Kappa, Summa Cum Laude, UCLA’s Anderson School of Business and Loyola University School of Law. Since graduation, he has worked extensively in collaboration with different academic and governmental organizations.

About Iron Eagle Group, Inc.
Iron Eagle provides construction and contracting services in both the commercial and government markets. Iron Eagle’s management consists of experts in construction, government contracting, defense, finance, operations, and business development. Management has put together a compelling strategic plan to capitalize on the large market opportunity created by the federal government’s stimulus package as well as funds that are flowing down to the state level for projects throughout the United States. Through the public capital markets, Iron Eagle believes it will have the access to capital to support increased needs for construction surety bonds. By executing on its growth strategy, Iron Eagle can achieve significant growth through highly focused targeting of federal, state, and municipal construction projects.

Iron Eagle became a publicly traded company on July 15, 1999 and is traded on the OTCQB under the symbol IEAG. For more information on the company, please visit the Company’s website at www.ironeaglegroup.com.

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June 15, 2010
Iron Eagle Group (IEAG) Announces Appointment of Gary J. Giulietti to the Board of Directors
New York, NY – June 15, 2010 - Iron Eagle Group, Inc. (OTCQB: IEAG) today announced that it has appointed Gary J. Giulietti to the Board of Directors.

"The addition of Mr. Giulietti to Iron Eagle's Board of Directors ensures the company will continue to benefit from a diversity of knowledge and opinions. Gary’s knowledge and experience with surety bonds facilitates a significant component of the Iron Eagle business, and he further adds to the team a track record of deep construction expertise, strong leadership skills, extensive management experience, and proven track records - especially in creating results for shareholders and customers," said Jason Shapiro, Co-Founder and Director of Iron Eagle Group. He added “Having Gary on our Board and Lockton as our strategic partner also grants Iron Eagle a competitive advantage for surety bonds, insurance, and construction expertise.”

Gary J. Giulietti is a proven leader with over 35 years of experience, successful at establishing the vision and strategies necessary to build and grow construction and related companies into industry leaders. Mr. Giulietti is currently President of the Northeast operations and a member of the Executive Committee of Lockton Companies, LLC, the world’s largest independently owned commercial insurance brokerage firm with more than 3,800 associates and a premium volume exceeding $14 billion. Mr. Giulietti led the initiative to expand Lockton’s market share worldwide, and further Lockton’s construction practice, which has grown to be one of the largest construction brokerage practices in the world, representing thousands of construction and design clients, including 20 of the Top 100 Design Firms and several $1-$5 billion firms. Mr. Giulietti assisted in the formulation of a construction industry focused Mergers & Acquisitions Private Equity Practice, which now represents over 200 private equity firms and assists with their due diligence needs. Mr. Giulietti’s practice advises over 150 major construction contractors.

A brief biography of Gary Giulietti is below.

About Iron Eagle Group, Inc.
Iron Eagle provides construction and contracting services in both the commercial and government markets. Iron Eagle’s management consists of experts in construction, government contracting, defense, finance, operations, and business development. Management has put together a compelling strategic plan to capitalize on the large market opportunity created by the federal government’s stimulus package as well as funds that are flowing down to the state level for projects throughout the United States. Through the public capital markets, Iron Eagle believes it will have the access to capital to support increased needs for construction surety bonds. By executing on its growth strategy, Iron Eagle can achieve significant growth through highly focused targeting of federal, state, and municipal construction projects.

About Gary J. Giulietti
Mr. Giulietti is currently President of the Northeast operations and a member of the Executive Committee of Lockton Companies, LLC, has one of the largest construction brokerage practices in the world. Previous to Lockton, Mr. Giulietti was Vice Chairman, Worldwide Construction for Willis where he oversaw and managed a worldwide construction insurance practice consisting of domestic offices and 140 international offices. Mr. Giulietti led the effort to grow Willis into the largest construction/surety broker in the world with $7.5 billion in premiums. He also assisted in large and mid-cap construction companies in providing their insurance needs as they took their businesses public.

Mr. Giulietti is an Advisory Board Member of Children’s Hospital Boston, a multi-billion non-profit organization, that is the worldwide leader in pediatric care and research. It is affiliated with both the Harvard Medical School and Dana-Farber Cancer Institute. In 2009, for the 20th year in a row, U.S. News & World Report rated Children's Hospital Boston one of the nation's top hospitals specializing in pediatric care. He is also a Board Member of 5 large, privately-held companies, ranging in size from $250 million to $4.5 billion in annual revenues including three major construction companies.

Mr. Giulietti is also Chairman of Stratton Mountain School, a ski and snowboard racing college preparatory school whose alumni include over 33 Olympians, 53 Olympic Team Placements, and countless NCAA Team members. Mr. Giulietti is a Board Member of Columbus Citizens Foundation, a non-profit organization in New York City committed to fostering an appreciation of Italian-American heritage and achievement. Since 1929, the Foundation has organized New York City's annual Columbus Day Parade which is the world’s largest celebration of Italian-American heritage and culture and is broadcast on 6 continents. Mr. Giulietti is also an Advisory Board Member of St. Michael’s College, an elite university that has been recognized in numerous publications.

June 9 , 2010
Iron Eagle Group (IEAG) Announces Appointment of Michael J. Bovalino as Chief Executive Officer and Eric J. Hoffman as Chief Financial Officer
New York, NY – June 9, 2010 - Iron Eagle Group, Inc. (OTCQB: IEAG) today announced today that it has appointed Michael J. Bovalino as Chief Executive Officer and Eric J. Hoffman as Chief Financial Officer.

“Iron Eagle conducted a thorough search of over 300 qualified candidates and is fortunate to welcome Mike Bovalino and Eric Hoffman to our team,” said Jason Shapiro, Co-Founder, Director and Executive Vice President of Corporate Strategy of Iron Eagle Group. “Mike and Eric both have extensive proven experience in both commercial construction and successfully identifying, acquiring, and profitably integrating numerous small to medium sized companies into multibillion dollar operations.”

We were impressed by Mike’s leadership and vision” said Steve Gropp, Co-Founder and Strategic Advisor to Iron Eagle. “Eric has generated wide spread success though his experience with the implementation of best practices in finance and operations.”

A brief biography of Michael Bovalino and Eric Hoffman are below.

About Iron Eagle Group, Inc.
Iron Eagle provides construction and contracting services in both the commercial and government markets. Iron Eagle’s management consists of experts in construction, government contracting, defense, finance, operations, and business development. Management has put together a compelling strategic plan to capitalize on the large market opportunity created by the federal government’s stimulus package as well as funds that are flowing down to the state level for projects throughout the United States. Through the public capital markets, Iron Eagle believes it will have the access to capital to support increased needs for construction surety bonds. By executing on its growth strategy, Iron Eagle can achieve significant growth through highly focused targeting of federal, state, and municipal construction projects.

About Michael J. Bovalino
Michael Bovalino is a proven Chief Executive Officer with a history of delivering profits and cash flows to both publicly traded and private companies. He has extensive construction, contracting, and regulatory experience and has managed companies at a senior level within the real estate, energy, telecommunications, and consumer products industries. Michael plans to build upon his success by leading Iron Eagle Group to a leading position in the commercial construction and federal contracting industries.

Prior to accepting the CEO position at Iron Eagle Group, Michael was the Chief Operating Officer/Chief Marketing Officer of Medical Acoustics, a medical device and consumer products company. Prior to Medical Acoustics, Michael was the Chief Executive Officer of the Pyramid Management Group, the largest privately held commercial real estate company in the US. Previously Mr. Bovalino was President and Chief Executive Officer of Energetix. During that time, Michael led Energetix and its parent – RGS Energy, a $2.5 billion energy company, to the industry’s best stock return performance over a five year period. This was due to the successful identification, negotiation, and integration of numerous small to medium sized acquisitions ranging from 10 to 300 employees.

Mr. Bovalino holds a Master of Information Technology degree from Polytechnic University, an MBA from Pace University, and a Bachelor’s in Accounting/Finance from the State University of New York at Fredonia.

About Eric Hoffman, CPA
Eric Hoffman is a dynamic performance driven executive with over 15 years of experience working in publicly traded companies. He has extensive financial and operational experience and has managed companies at a senior level within the construction, pharmaceutical and plastic compounding industries. Eric has had a history of success in creating business plans, improving operations, implementing systems and controls, developing management teams, and integrating acquisitions. Eric plans to utilize his high energy and drive for success to propel Iron Eagle Group forward as a leader in the commercial construction industry.

Previous to Iron Eagle Group, Eric was the Executive Vice President and Chief Operating Officer of Masco Contractor Services, a multi-billion subsidiary of publicly traded Masco Corporation and one of the largest providers of installed products for homebuilders across the United States. While at Masco, Mr. Hoffman successfully identified, acquired, and integrated small to medium sized construction companies. As Chief Financial Officer he was responsible for the back office integration and implementation of financial systems and internal controls at the acquired companies.

Mr. Hoffman received his B.S.B.A. in Accounting from John Carroll University and is a Certified Public Accountant. Eric volunteers for Habitat for Humanity.

May 3, 2010
Pinnacle Resources, Inc. Announces Name Change to Iron Eagle Group, Inc.
New York, NY – May 3, 2010 – Pinnacle Resources, Inc. announced today that it has formally changed its legal name to Iron Eagle Group, Inc., has been assigned the new symbol of OTCQB: IEAG), and redomiciled to Delaware.

Name Change: Pinnacle changed its name to Iron Eagle Group, Inc. Management believes this new name will more accurately reflect corporate operations.

Ticker Change: In connection with the name change, Iron Eagle has received a new CUSIP and received a new ticker symbol from FINRA. The ticker symbol has changed from PNRR to IEAG.

Redomicile to Delaware: Iron Eagle changed its domicile from a Wyoming Corporation into a Delaware Corporation. The purpose of the redomicile is to change the state of incorporation and legal domicile of Iron Eagle from Wyoming to Delaware. The board of directors believes that this change in the domicile is in the best interests of Iron Eagle and its shareholders. Delaware has long been a leading state in adopting, construing, and implementing comprehensive and flexible corporate laws that respond to the legal and business needs of corporations.

"We are very excited to have completed these important aspects to our corporate development," said Jason Shapiro, Chief Financial Officer and Director of Iron Eagle. We have now rebranded our corporate identity to align with the business plan and corporate strategy. Furthermore, becoming a Delaware corporation will enhance shareholder value and facilitate corporate growth and development. We are continuing to execute our strategy of using our competitive advantages in surety bonds, government contracting, operations, and finance to identify, acquire and significantly grow leading commercial construction companies throughout
the United States. "

About Iron Eagle Group, Inc.
Iron Eagle provides construction and contracting services in both the commercial and government markets. Iron Eagle’s management consists of professionals in finance, operations and government contracting. Management has put together a compelling strategic plan to capitalize on the large market opportunity created by the federal government’s stimulus package as well as funds that are flowing down to the state level for projects throughout the United States. Through the public capital markets, Iron Eagle believes it will have the access to capital to support increased needs for construction surety bonds. By executing on its growth strategy, Iron Eagle can achieve significant growth through highly focused targeting of federal, state, and municipal construction projects. The proposed acquisition target companies possess strong footholds in selected markets as well as solid past performance histories.

Iron Eagle became a publicly traded company on July 15, 1999, and is traded on the OTCQB under the symbol IEAG. For more information on the company, please visit Iron Eagle’s website at www.ironeaglegroup.com.

About Jason M. Shapiro
Jason M. Shapiro, CFA, CPA, J.D. is currently CFO and Director of Iron Eagle. Mr. Shapiro is a proven leader with over 10 years of extensive financial, private equity, turnaround, and restructuring experience across regional and global firms in diverse industries and in various states of financial health. Prior to joining Iron Eagle Group, Mr. Shapiro was Vice President of Macquarie Capital Fund, Macquarie Group’s Private Equity Group. Prior to Macquarie, Mr. Shapiro was an Associate Director at UBS Investment Bank, where he executed $15+ billion in corporate finance transactions.

Mr. Shapiro earned his MBA from the University of Pennsylvania’s The Wharton School. He earned his J.D from the Seton Hall University School of Law where he was in the Full Scholarship and Presidential Honors Program and completed all his law courses in under two years. He graduated as the Valedictorian and Summa Cum Laude from Baruch College’s Zicklin School of Business, where he earned his M.S. in Accountancy. Mr. Shapiro was the Valedictorian of Rutgers College where he graduated Summa Cum Laude and completed his studies in three years with a B.S. in Computer Science. In addition, he was in several honors programs and received numerous departmental and collegiate awards. Mr. Shapiro also has earned the following certifications: CPA (Certified Public Accountant), CFA (Chartered Financial Analyst), CIRA (Certified Insolvency and Restructuring Advisor). CDBV (Certification in Distressed Business Valuation), CFE (Certified Fraud Examiner), CFF (Certified in Financial Forensics), PMP (Project Management Professional), PMI-RMP (Risk Management Professional), and CLSSBB (Certified Lean Six Sigma Black Belt). Mr. Shapiro has also been admitted to the New Jersey Bar.

Safe Harbor Statement
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward- looking statements. Certain information included in this press release contains statements that are forward-looking, such as statements related to the future anticipated direction of the industry, plans for future expansion, various business development activities, planned or required capital expenditures, future funding sources, anticipated sales growth, and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by, or on behalf of, the company. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, and domestic and global economic conditions.

Top

January 15, 2010
Pinnacle Resources Announces Appointment of New Chief Financial Officer and Director
Englewood, Colorado, January 15, 2010 -- Pinnacle Resources (OTC Pink Sheets: PNRR.PK) (“Pinnacle” or the “Company”) announced today that it has appointed Jason Shapiro as Chief Financial Officer and Director.

"We are very fortunate to welcome Jason Shapiro to our team," said Glen Gamble, Chairman and President of Pinnacle Resources. "We believe Mr. Shapiro’s comprehensive expertise will enhance our operations and financial capabilities as our company embarks on a new direction. He will certainly strengthen our profile as a publicly listed company.”

Mr. Shapiro is a proven leader with over 10 years of extensive financial, private equity, turnaround, and restructuring experience across regional and global firms in diverse industries and in various states of financial health. Prior to joining Iron Eagle Group, Mr. Shapiro was Vice President of Macquarie Capital Fund, Macquarie Group’s Private Equity Group. Prior to Macquarie, Mr. Shapiro was an Associate Director at UBS Investment Bank, where he executed $15+ billion in corporate finance transactions.

Mr. Shapiro earned his MBA from the University of Pennsylvania’s The Wharton School. He earned his J.D from the Seton Hall University School of Law where he was in the Full Scholarship and Presidential Honors Program and completed all his law courses in under two years. He graduated as the Valedictorian and Summa Cum Laude from Baruch College’s Zicklin School of Business, where he earned his M.S. in Accountancy. Mr. Shapiro was the Valedictorian of Rutgers College where he graduated Summa Cum Laude and completed his studies in three years with a B.S. in Computer Science. In addition, he was in several honors programs and received numerous departmental and collegiate awards. Mr. Shapiro also has earned the following certifications: CPA (Certified Public Accountant), CFA (Chartered Financial Analyst), CIRA (Certified Insolvency and Restructuring Advisor). CDBV (Certification in Distressed Business Valuation), CFE (Certified Fraud Examiner), CFF Certified in Financial Forensics), PMP (Project Management Professional), PMI-RMP (Risk Management Professional), CLSSBB (Certified Lean Six Sigma Black Belt).

Dutch Hildebrand, Secretary and Director of Pinnacle Resources, stated, “We expect Jason will make an immediate contribution to our company. He is a seasoned finance professional whose expertise will help us with our growth strategy and immediate business development."

About Pinnacle Resources
Pinnacle Resources, Inc. is a former international natural resources company that specialized in emerging mining and mineral development projects. Pinnacle became a publicly traded company on July 15, 1999 and is traded on the Pink Sheets under the symbol PNRR. The Company is also listed on the Frankfurt Exchange under the symbol PIN.

Safe Harbor Statement
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward- looking statements. Certain information included in this press release contains statements that are forward-looking, such as statements related to the future anticipated direction of the industry, plans for future expansion, various business development activities, planned or required capital expenditures, future funding sources, anticipated sales growth, and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by, or on behalf of, the company. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, and domestic and global economic conditions.

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January 15, 2010
Pinnacle Resources Announces Acquisition of Iron Eagle Group
Englewood, Colorado, January 15, 2010 -- Pinnacle Resources, Inc. (OTC Pink Sheets: PNRR.PK) (“Pinnacle”), today announced it has entered into an agreement to acquire Iron Eagle Group (“Iron Eagle”), a company founded by a coalition of senior managers to provide construction and contracting services.

Iron Eagle believes that through utilizing the public capital markets, it will have access to capital to support increased needs for construction surety bonds. In addition, Iron Eagle’s management team believes it can achieve significant growth levels through highly focused targeting of federal, state, and municipal construction projects.

The closing of the acquisition is subject to Iron Eagle demonstrating not less than $1.8 million in earnings before interest, taxes, depreciation, and amortization (“EBITDA”) over the next nine months.

Glen Gamble, Chairman and President of Pinnacle Resources, commented, “Iron Eagle Group has developed a highly focused strategic plan. We believe they have the capabilities and vision to create significant value for the shareholders of Pinnacle Resources. Furthermore, we are confident in Iron Eagle’s ability to reach the EBITDA requirement necessary for the closing of this transaction.”

Jason Shapiro, Co-Founder and CEO of Iron Eagle Group, added, “Iron Eagle is committed to providing superior construction services. Our team is dedicated to winning significant contracts and fulfilling the needs of our customers.”

About Pinnacle Resources
Pinnacle Resources, Inc. is a former international natural resources company that specialized in emerging mining and mineral development projects. Pinnacle became a publicly traded company on July 15, 1999 and is traded on the Pink Sheets under the symbol PNRR. The Company is also listed on the Frankfurt Exchange under the symbol PIN.

Safe Harbor Statement
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-
looking statements. Certain information included in this press release contains statements that are forward-looking, such as statements related to the future anticipated direction of the industry, plans for future expansion, various business development activities, planned or required capital expenditures, future funding sources, anticipated sales growth, and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by, or on behalf of, the company. These risks and uncertainties include, but are not limited to, those relating to
development and expansion activities, dependence on existing management, financing activities, and domestic and global economic conditions.

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