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BRIEF-Champion Iron says acquisition of bloom lake & financing

Published 14/12/2015, 11:44 am
© Reuters.  BRIEF-Champion Iron says acquisition of bloom lake & financing
CIA
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Dec 14 (Reuters) - Champion Iron Ltd CIA.AX :

* Acquisition of bloom lake & financing CIA.AX

* Says bloom lake assets and the quinto claims are being acquired for a cash consideration of C$10.5 million

* Says Champion announces definitive agreement to acquire bloom lake mine and rail assets

* Announcing a private placement financing of ordinary shares at a price of C$0.16 per share to raise up to C$25 million

* QUÉBEC iron ore will also become responsible for environmental obligations which include environmental reclamation liabilities presently assessed at C$41.7 million by government of QUÉBEC

* Says Champion believes there is capacity to reduce the care and maintenance costs at the bloom lake mine

* Source text for Eikon ID:nASX8Vv6TJ

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