Iron

Alderon Iron Ore Corp(TSX:ADV) announced a new subscription agreement with LMM. The agreement involves the purchase of 14,981,273 common shares on a private placement basis.

As quoted in the press release:

 Alderon Iron Ore Corp(TSX:ADV) announced a new subscription agreement with LMM. The agreement involves the purchase of 14,981,273 common shares on a private placement basis.

As quoted in the press release:

Pursuant to the subscription agreement, LMM will be entitled to nominate one person to be appointed to the board of directors of Alderon and will have a pre-emptive right to participate in any future equity financings of Alderon. In the event that LMM desires to sell any of the Purchased Shares, Alderon will hold the right to identify a purchaser or purchasers to whom such Purchased Shares shall be sold.

Click here to read theAlderon Iron Ore Corp (TSX:ADV) press release

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