Liberty Metals & Mining Holdings Acquires Shares of Alderon Iron Ore Corp.

By Midnight Trader,  January 16, 2012, 08:04:37 AM EDT

Liberty Metals & Mining Holdings, LLC announced that that it has entered into a subscription agreement with Alderon Iron Ore Corp. (ADV.TO), pursuant to which LMM has purchased, on a private placement basis of around 15 million common shares of Alderon at a price of C$2.67 per Purchased Share for a total subscription price of approximately C$40 million. The purchase price was based on the volume weighted average price of Alderon's common shares on the Toronto Stock Exchange for the twenty trading days ended January 11, 2012. Alderon rose 3% on Friday to close in on an existing year high $3.45.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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