Anglesey Mining plc LSE:AYM 13 February 2013 LIM completes C$29 million equity financing Over-allotment option exercised in full Anglesey Mining's associate Labrador Iron Mines Holdings Limited (TSX:LIM) reports that it has completed its previously announced public offering, including the full amount of the over-allotment option, for aggregate gross proceeds of C$28,980,000. A total of 27,600,000 units of LIM, including those issued pursuant to the exercise of the over-allotment option, were issued and sold at a price of C$1.05 per unit. Each unit consists of one common share of LIM and one-half of one common share purchase warrant. Each warrant will entitle the holder to purchase one common share of LIM at an exercise price of C$1.35 per common share for a period of 36 months following the closing of the offering. The warrants have been listed on the Toronto Stock Exchange and will trade under the symbol LIM.WT. The offering was completed by a syndicate of underwriters led by Canaccord Genuity Corp. and included RBC Dominion Securities Inc., Scotia Capital Inc., Macquarie Capital Markets Canada Ltd., Jennings Capital Inc. and Raymond James Ltd. LIM intends to use the net proceeds to fund pre-stripping, mining and processing costs, including payments to LIM's mining contractors, and transportation costs in connection with the seasonal resumption of production operations in April 2013; also to supplement working capital and general and administrative costs for the remaining winter season. LIM issued 27,600,000 common shares pursuant to the offering and now has 126,200,807 common shares outstanding. Anglesey has the right to purchase on a non-brokered private placement basis up to 3,000,000 units of one LIM share and one-half of one LIM share purchase warrant at a price of C$1.065 per unit subject to certain conditions. About Anglesey Mining plc Anglesey currently holds 19,289,100 shares in LIM which comprise 15.3% of LIM's outstanding share capital after the offering (19.6% prior to the offering). Toronto-listed Labrador Iron Mines Holdings Limited is producing high grade hematite from its James pit, one of LIM's twenty direct shipping iron ore deposits in western Labrador and north-eastern Quebec. Anglesey is also carrying out exploration and development work at its 100% owned Parys Mountain zinc-copper-lead deposit in North Wales, UK where a JORC Code-compliant resource of 2.1mt at 6.9% combined base metals in the indicated category and 4.1mt at 5.0% combined in the inferred category was published in November 2012. For further information, please contact: Bill Hooley, Chief Executive +44 (0)1492 541981; Ian Cuthbertson, Finance Director +44 (0)1248 361333; Samantha Harrison / Klara Kaczmarek: RFC Ambrian +44 (0)20 3440 6800; Emily Fenton / Jos Simson: Tavistock Communications +44 (0)20 7920 3155 END -0- Feb/13/2013 14:10 GMT
ANGLESEY MINING PLC: LIM completes C$29 million equity financing
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