Timminco Limited
TSX : TIM

Timminco Limited

June 14, 2010 09:56 ET

Timminco Completes Third Tranche of Equity Financing

TORONTO, ONTARIO--(Marketwire - June 14, 2010) -

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Timminco Limited ("Timminco" or the "Company")(TSX:TIM) announced today that, further to its news release of May 21, 2010, it has completed the third and final tranche of its private placement equity offering, which generated total gross proceeds of approximately $13.1 million. The third tranche of approximately 4.1 million common shares was issued at a price of $0.65 per share for gross proceeds of approximately $2.6 million. All of the common shares under this third tranche were issued to AMG Advanced Metallurgical Group N.V. ("AMG"). As a result, AMG now owns approximately 83.1 million common shares of Timminco, representing 42.5% of Timminco's total issued and outstanding shares. 

About Timminco

Timminco is a producer of silicon metal for the chemicals industry (used in silicones, as well as in polysilicon for electronics and solar energy) and the aluminium industry. The Company is also a producer of solar grade silicon, using its proprietary technology for purifying silicon metal, for the solar energy industry.

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Contact Information

  • Timminco Limited
    Robert Dietrich
    Executive Vice President - Finance and CFO
    (416) 364-5171
    (416) 364-3451 (FAX)
    Email: rdietrich@timminco.com
    or
    The Equicom Group Inc.
    Lawrence Chamberlain
    (416) 815-0700 ext. 257
    (416) 815-0080 (FAX)
    Email: lchamberlain@equicomgroup.com