Published on 10/27/2009 in the Prospect News PIPE Daily.
New Issue: Yalian Steel concludes $5.7 million private placement of common stock
By Devika Patel
Knoxville, Tenn., Oct. 27 - Yalian Steel Corp. said it completed a $5.7 million private placement of stock with Jiangsu Tongyu Steel Pipe Group Co., Ltd.
The company sold 5.7 million common shares at $1.00 apiece. Tongyu now holds approximately 5.8% of the company's outstanding stock.
Yalian Steel is a Vancouver, B.C.-based capital pool company.
| Issuer: | Yalian Steel Corp.
|
| Issue: | Common shares
|
| Amount: | $5.7 million
|
| Shares: | 5.7 million
|
| Price: | $1.00
|
| Warrants: | No
|
| Investor: | Jiangsu Tongyu Steel Pipe Group Co., Ltd.
|
| Settlement date: | Oct. 27
|
| Stock symbol: | TSX Venture: YL
|
| Stock price: | C$1.80 at close Oct. 26
|
| Market capitalization: | C$160.7 million
|
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