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Stock Market & Financial Investment News

News Breaks
April 14, 2014
08:10 EDTGSIGeneral Steel signs supply agreement with Rio Tinto Iron Ore Asia
General Steel Holdings announced that its principal manufacturing facility, Shaanxi Longmen Iron and Steel, has signed a supply agreement with Rio Tinto Iron Ore Asia Pte. for procurement of imported iron ore in 2014, commencing from April 1. Under this agreement, Rio Tinto will directly provide Longmen Joint Venture at least 1.5M metric tons of imported iron ore at a favorable price based on the average monthly iron ore index upon delivery.
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July 14, 2014
09:01 EDTGSIGeneral Steel raises $7.5M in a private placement
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08:36 EDTGSIGeneral Steel announces 5M shares private placement at $1.50 per share
General Steel has entered into a definitive Subscription Agreement for a private placement of its common stock, par value 0.1c per share, with Henry Yu, the company's Chairman and CEO. The gross proceeds from the private placement will be approximately $7.5M and the company intends to use the proceeds to fund its expansion into high-growth bulk commodity e-commerce. The investor purchased from the company and the company issued and sold to the Investor 5M shares of Common Stock at a purchase price of $1.50 per share for an aggregate amount of $7.5M. The private placement is expected to close in July.

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