Hebei to Complete Contribution to Alderon

摘要

Canada's Alderon Iron Ore Corp. (“Alderon”) announced on Mar 15 that Hebei Iron & Steel Group Co., Ltd. (“Hebei”) has contributed the remaining C$119.9 million of its initial investment . This concludes Hebei's initial strategic investment into both Alderon and its Kami Project for an aggregate amount of C$182.2 million, in exchange for 19.9% of the outstanding common shares of Alderon and a 25% interest in the Kami Limited Partnership which was established to own the Kami Project. Alderon has the remaining 75% interest in the Kami Limited Partnership.