Labrador Iron Mines to list on TSX Nov. 27
2007-11-27 07:22 MT - News Release
Mr. John Kearney reports
LABRADOR IRON MINES HOLDINGS LIMITED ANNOUNCES FILING OF FINAL PROSPECTUS, APPROVAL OF LISTING ON TORONTO STOCK EXCHANGE UNDER THE TICKER SYMBOL - "LIR"
Labrador Iron Mines Holdings Ltd.'s final prospectus, in connection with the proposed initial public offering of units of the company, has been filed with, and receipted by, the securities regulatory authorities in each of the provinces of Canada, except for Quebec, and the Toronto Stock Exchange has conditionally approved the listing of the company's common shares and common share purchase warrants.
The company has agreed with Canaccord Capital Corp., as agent, to offer 11,473,000 units at a price of $4 per unit. Each unit consists of one common share and one-half of one common share purchase warrant, each whole warrant exercisable to purchase one additional common share at a price of $5 per share at any time prior to 24 months from the closing of the offering. The offering is expected to close on or about Dec. 3, 2007.
The company's shares and warrants have been conditionally approved for listing on the Toronto Stock Exchange and are expected to commence trading on an if-as-and-when-issued basis on Nov. 27, 2007.
The stock ticker symbols on the TSX are as follows.
Common shares: LIR
Warrants: LIR.WT
In addition, the company has granted Canaccord an overallotment option, exercisable for a period of 30 days following the closing of the offering, to purchase up to an additional 15 per cent of the number of units issued pursuant to the offering at a price of $4 per unit.
The final prospectus is available on SEDAR. Copies of the final prospectus may also be obtained from Canaccord by contacting Amy Patel, Canaccord Capital, 416-869-7368.
We seek Safe Harbor.
