Alderon Iron Ore Closes Investment With Liberty Metals

Alderon Iron Ore Corp. (TSX:ADV,OTCQX:ALDFF) announced that it has closed a C$40 million strategic investment from Liberty Metals & Mining Holdings, LLC.

As quoted in the press release:

LMM purchased 14,981,273 common 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 $2.67. The purchase price was based on the volume weighted average price of Alderon’s shares on the Toronto Stock Exchange for the twenty trading days ended January 11, 2012.

Click here to read the Alderon Iron Ore Corp. (TSX:ADV) press release.