By Devika Patel
Knoxville, Tenn., March 18 - Alderon Resource Corp. said it plans a C$5 million non-brokered private placement of stock.
The company will sell 1,818,182 flow-through common shares at C$2.75 each.
Proceeds will be used for exploration and drilling.
Alderon is a Vancouver, B.C.-based iron ore exploration and development company.
| Issuer: | Alderon Resource Corp.
|
| Issue: | Flow-through common stock
|
| Amount: | C$5 million
|
| Shares: | 1,818,182
|
| Price: | C$2.75
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | March 18
|
| Stock symbol: | TSX Venture: ADV
|
| Stock price: | C$2.21 at close March 17
|
| Market capitalization: | C$30.8 million
|
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