TSXV:AAA.P - Post by User
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sbergieon Jan 12, 2012 9:39am
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Post# 19395586
Liberty Mutual has a ton of cash Glad there on our
Liberty Mutual has a ton of cash Glad there on our
January 12, 2012
| | Alderon Announces Strategic Investment by Liberty Metals & Mining Holdings, LLC Alderon Iron Ore Corp. (TSX: ADV) (OTCQX: ALDFF) ("Alderon") is pleased to announce that it has entered into a subscription agreement with Liberty Metals & Mining Holdings, LLC ("LMM"), a subsidiary of Liberty Mutual Group. Pursuant to the subscription agreement, LMM will purchase 14,981,273 common shares (the "Purchased Shares") of Alderon on a private placement basis for an aggregate purchase price of approximately C$40 million at a price per Purchased Share of C$2.67 (the "Placement"). 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. |