This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Applied Minerals, Inc. Completes $10 Million Financing

NEW YORK, Dec. 22, 2011 /PRNewswire/ -- Applied Minerals, Inc. ("Applied Minerals" or the "Company") (OTC BB: AMNL) is pleased to announce that it has successfully secured $10 million through the sale of 10 million units to Samlyn Capital, LLC ("Samlyn Capital" or the "Investor") in a privately negotiated sale.  Each unit consists of one share of common stock priced at $1.00 per share and one half of one common stock purchase warrant (the "Warrant"). Each full Warrant, to be exercised on a cash basis only, entitles the holder to purchase from the Company one additional share of the Company's common stock at a price of $2.00 for a period of 5 years. The Company has the option to call or redeem the warrant if not exercised by the investor based on a pre-defined set of conditions.  

The proceeds from the financing will be used to fund the Company's growth capital expenditure program and general corporate purposes.

Andre Zeitoun, President and CEO of Applied Minerals stated: "We are very excited to have received this financing from such a sophisticated institutional investor as Samlyn Capital.  This financing provides us with meaningful working capital as well as the ability to invest in a plant expansion program. This capital program will enable us to both expand our plant production capacity and enhance our material processing capabilities in order to meet the growing demand for our Dragoniteā„¢ line of products.  The enhanced capabilities will enable us to further adapt our products to a wider variety of end markets. Additionally, the company plans to introduce for the first time, Iron Oxide Pigments from our unique Hematite & Goethite Iron Ore resource. We continue to be ever more optimistic about the Company's growth prospects as we enter into 2012.  This financing will serve to expedite and enhance our aggressive growth plans."  The Company will provide comprehensive details on its capital program in the near future.

Dahlman Rose & Company, LLC acted as financial advisor to the Company. 

About Applied Minerals.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,698.18 -77.94 -0.44%
S&P 500 2,059.69 -8.20 -0.40%
NASDAQ 4,880.2280 -20.6570 -0.42%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs