RE:RE:RE:RE:Alderon Iron Ore halted at openHere is NR from ALS site
Altius to Increase Holdings in Alderon Iron Ore to 39%
Altius Minerals Corporation (“Altius”) reports that it has agreed to acquire 18,797,454 common shares (“Common Shares”) of Alderon Iron Ore Corp. (“Alderon”) from Liberty Metals & Mining Holdings, LLC (“Liberty”). Altius currently owns and controls 33,041,462 Common Shares, representing approximately 24% of the outstanding Common Shares of Alderon, and will following closing own and control a total of 51,838,916 Common Shares, representing approximately 39% of the outstanding Common Shares. The shares are to be acquired at a purchase price of $0.27 per share. It is anticipated that the transaction will close on or before March 31, 2018, subject to satisfaction of customary closing conditions. The closing price of the Common Shares on the Toronto Stock Exchange on March 21, 2018 was $0.24 per share.
Altius will acquire the Common Shares in reliance on Section 4.2 of Part 4 of NI 62-104. Altius will hold the Common Shares for investment purposes and may, from time to time, acquire additional Common Shares, dispose of some or all of the Common Shares, or continue to hold the Common Shares.
Alderon holds a 75% interest in the Kami Iron Ore project (“Kami” or the “Project”) located in Labrador, Canada. Altius holds a 3% gross sales royalty related to the Project which it obtained previously upon its discovery and vending of the Kami deposits into Alderon. The Project is situated within the southern Labrador Trough iron ore mining camp and is proximal to the current Labrador City mining operations of the Iron Ore Company of Canada (Rio Tinto 58.7%), the Bloom Lake mine (63.2% Champion Iron Ore) and the Mont Wright mining complex (ArcelorMittal 85%)
Read more at https://www.stockhouse.com/news/press-releases/2018/03/22/altius-to-increase-holdings-in-alderon-iron-ore-to#0dx5uZbFeiKyga8e.99