AMG Affiliate Timminco Completes Third Tranche of Equity Financing

2010-06-14

AMG Advanced Metallurgical Group N.V.'s affiliate Timminco Limited recently 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 C$13.1 million. The third tranche of approximately 4.1 million common shares was issued at a price of C$0.65 per share for gross proceeds of approximately C$2.6 million. All of the common shares under this third tranche were issued to 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.