Timminco raises $5.3 million in private placement with largest shareholder

By The Associated Press

Friday, November 20, 2009

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Timminco Ltd. (TSX:TIM) said Friday it has closed a $5.3-million private placement with its largest shareholder that has increased AMG Advanced Metallurgical Group's stake in the company to 46 per cent.

AMG acquired 3.8 million shares at a price of $1.38 per share to increase its stake to 67.8 million common shares of Timminco.

Timminco uses a proprietary technology to produce solar grade silicon.

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