New Issue: South American Iron wraps A$1.03 million stock sale

By Devika Patel

Knoxville, Tenn., Feb. 13 - South American Iron & Steel Corp. Ltd. said it raised A$1.03 million in a private placement of shares.

The company sold 5,147,500 shares at A$0.20 per share. Investors also received 2,573,750 attaching options, which are exercisable at A$0.50 until Feb. 12, 2011.

Astron Ltd. bought 3,872,500 shares for A$774,500.

The mineral exploration company is based in Sydney, Australia.

Issuer:	South American Iron & Steel Corp. Ltd.
Issue:	Shares
Amount:	A$1,029,500
Shares:	5,147,500
Price:	A$0.20
Options:	2,573,750
Option expiration:	Feb. 12, 2011
Option strike price:	A$0.50
Investor:	Astron Ltd. (for A$774,500)
Settlement date:	Feb. 13
Stock symbol:	Australia: SAY
Stock price:	A$0.14 at close Feb. 13

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