By Devika Patel
Knoxville, Tenn., June 19 - Yalian Steel Corp. said it completed an C$8.5 million private placement of stock.
The company sold 5 million common shares at C$1.70 apiece.
GMP Securities LP was the underwriter.
Yalian Steel is a Vancouver, B.C.-based capital pool company.
Issuer: | Yalian Steel Corp.
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Issue: | Common shares
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Amount: | C$8.5 million
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Shares: | 5 million
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Price: | C$1.70
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Warrants: | No
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Underwriter: | GMP Securities LP
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Settlement date: | June 19
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Stock symbol: | TSX Venture: YL
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Stock price: | C$1.95 at close June 18
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Market capitalization: | C$89.4 million
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