Alderon Resource Corp. (TSX VENTURE:ALD) reported that the company has closed the $10 million non-brokered private placement previously announced on January 15, 2010 through the issuance of 10 million subscription receipts, at a price of $1.00 per subscription receipt.

The press release is quoted as saying:

The Company and Privco are parties to an Option Agreement dated November 2, 2009 with Altius Resources Inc. ("Altius") pursuant to which the Company has the right to acquire a 100% interest in the Kamistiatusset iron ore project in western Labrador. Altius is a wholly owned subsidiary of Altius Minerals Corporation (TSX-ALS).

Click here to access the entire press release ^[1]