Yalian Steel closes $8.5 million private placement

On June 19, 2009, Yalian Steel Corporation (TSX-V: YL), a British Columbia corporation focused on the production of high quality steel pipe to service Asia's rapidly growing energy transportation infrastructure market, announced that it had completed its previously announced "bought deal" private placement financing, issuing 5,000,000 common shares at a price of $1.70 per share to raise aggregate gross proceeds of $8,500,000.

GMP Securities L.P. acted as the underwriter in connection with the offering and was advised by a team from Fasken Martineau that included Georges Dubé, Edmond Luke, Brad Freelan and Alex Nikolic.