PolyMet Closes Second $10 Million Tranche of Glencore Financing

PolyMet Mining Corp. (TSX:POM,NYSE:PLM) reports it has closed the second tranche of its ] private placement with Glencore AG.

The press release is quoted as saying,

…issuing 5 million common shares of the Company (the “Tranche 2 Shares”) at US$2.00 per Share for gross proceeds of US$10 million.

Separately, Glencore has acquired pursuant to a private transaction 9,200,547 common shares (the “Cliffs Shares”) of PolyMet at a price of US$1.4233 per share, from Cliffs Erie L.L.C., a wholly owned subsidiary of Cliffs Natural Resources Inc.

For the complete press release, click here.