Alderon Announces Investment Transaction with Tunghsu Group - Seite 2

The completion of the Transaction is subject to a number of conditions including the negotiation and execution of the Definitive Agreement and Amended Partnership Agreements, receipt of regulatory and stock exchange approvals, consent of Sprott and continued agreement from Sprott to extend the Loan Facility to the date of closing of the Transaction. There is no certainty that the Transaction will be completed on the terms set out in this press release or at all.

In connection with the extension of the Loan Facility, Sprott will receive an extension fee equal to 3% of the principal amount.

About Tunghsu Group Co., Ltd.

Tunghsu Group is a diversified business giant headquartered in Beijing. From its foundation in 1997, it has engaged in a variety of industries including optoelectronic display materials, high-end intelligent equipment, renewable energy and eco-friendly industries. 

Tunghsu started its business from engaging in the optoelectronic display industry. From there it has broken through the foreign technical blockade and established China’s first production line of domestic TFT-LCD glass substrate through innovation. As the industry chain extends, Tunghsu has become a global leader as an optoelectronic display materials provider. As a large industry-oriented group, Tunghsu insists on working to make the enterprise bigger and stronger by the strategy of combining industry and finance. Since 2014, the group’s financial sector has expanded into finance companies, private equity, finance leasing, commercial factoring and many other sectors. This expansion has played a promoting role in establishing a “Finance oriented” focus and improved Tunghsu’s prosperity.

About Alderon Iron Ore Corp.

Alderon is a leading iron ore development company in Canada. The Kami Project, owned 75% by Alderon and 25% by HBIS Group through The Kami Mine Limited Partnership, is located within Canada’s premier iron ore district, the Labrador Trough, and is surrounded by three producing iron ore mines. The Kami product will be shipped through a newly commissioned multi-user, deep-water berth near the Port of Sept-Îles in Québec.

For more information on Alderon, please visit our website at www.alderonironore.com.

ALDERON IRON ORE CORP.
On behalf of the Board
"Tayfun Eldem"
President & CEO, Director

Alderon is part of the King & Bay group of companies. King & Bay is a merchant bank that specializes in identifying, funding, developing and supporting growth opportunities in the resource, aviation, and technology sectors.