Business
Trading Statement - Labrador Iron financing fo...
Trading Statement - Labrador Iron financing fo....
About this update from Anglesey Mining Plc
[{"type":"text","content":"\n Anglesey Mining plc LSE:AYM\n\n5 March 2010\n\nLabrador Iron announces C$25 million bought deal financing\n\nAnglesey grants underwriters an option to purchase 546,000 shares of Labrador\nIron for C$3 million\n\nAnglesey Mining plc is pleased to report that its 50% owned associate company\nLabrador Iron Mines Holdings Limited (TSX:LIM) announced today that it has\nentered into an agreement with Canaccord Financial Ltd. and a syndicate of\nunderwriters (collectively, the \"Underwriters\"), which has agreed to purchase,\non a bought deal basis, 3,640,000 common shares from LIM's treasury (the\n\"Treasury Common Shares\") and 760,000 \"tax flow-through\" common shares from\nLIM's treasury (the \"FT Shares\" and together with the Treasury Common Shares,\nthe \"Underwritten Shares\") at a price of C$5.55 per Treasury Common Share and\nC$6.65 per FT Share, for aggregate gross proceeds of C$25,256,000 (collectively\nthe \"Underwritten Offering\").\n\nIn addition, Anglesey Mining plc has granted the Underwriters an option to\npurchase from Anglesey up to 546,000 previously issued common shares of LIM (the\n\"Secondary Common Shares\" and together with the Underwritten Shares, the\n\"Offered Securities\"), at a price of C$5.55 per LIM common share, for the\npurpose of covering the Underwriters' over-allocation position, for gross\nproceeds of up to C$3,030,300 in cash, (approximately £2 million). This Over-\nAllotment Option represents up to 15% of the amount to be raised by LIM pursuant\nto the sale of LIM's Treasury Common Shares, on the same terms and conditions.\n\nThe Offering is being made by LIM pursuant to a Short Form Prospectus to be\nfiled in the Canadian provinces of British Columbia, Alberta, Saskatchewan,\nManitoba, Ontario, New Brunswick, Nova Scotia, Prince Edward Island and\nNewfoundland and Labrador. The Offered Securities will not be registered under\nthe U.S. Securities Act of 1933, as amended, and may not be offered or sold in\nthe United States absent registration or an applicable exemption from the\nregistration requirements.\n\nThe LIM Underwritten Offering is expected to close on or about 25 March 2010.\nThe Over-Allotment Option is exercisable by the Underwriters at any time, in\nwhole or in part, up to 30 days after the date of the closing of LIM's\nUnderwritten Offering.\n\nAnglesey currently holds 18,600,0...