Labrador Iron Ore – Subdivision of Stapled Units and Cash Distribution

Labrador Iron Ore Royalty Corporation (PINK:LBRYF) announced that holders of stapled units will be requested to approve a subdivision of those units at the company’s upcoming annual meeting.

The press release is quoted as saying:

After the subdivision, there will be 64 million stapled units outstanding and each stapled unit will consist of (a) one subordinated note receipt representing a $3.875 face amount of 12.08% subordinated notes and (b) one common share.

To read the full press release, click here.