Wynnchurch, RCF invest in $30 mln financing of Champion Iron

Champion Iron Ltd (TSX: CIA) has closed a $30 million private placement financing. The investors included U.S. private equity firms Wynnchurch Capital and Resource Capital Funds, which contributed $10 million and $6.5 million, respectively. With the deal, Wynnchurch Operating Partner Michelle Cormier has joined the company's board. Champion Iron, which has offices in Montréal, Toronto and Australia, is a developer of iron ore deposits located in the Labrador Trough. It said the deal's proceeds would be used partly to fund the company's acquisition of the Bloom Lake Mine and related rail assets, as well as the Quinto Mining Corp mineral claims, in Québec.

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