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TOR Minerals Receives Shareholder Approval for Private Placement CORPUS CHRISTI, Texas, January 2, 2009 -- TOR Minerals International (Nasdaq:TORM), producer of synthetic titanium dioxide, color pigments, specialty aluminas, and other high performance mineral fillers, announced today that it has received shareholder approval pursuant to its previously announced private placement. Proceeds in the amount of $1,890,000 were received by the company for the sale of 63 units at a price of $30,000 per unit. Each unit consists of 25,000 shares of TOR's common stock and a warrant to purchase an additional 25,000 shares of TOR's common stock. Each warrant is exercisable for three years at a price of $2.00 per share. Headquartered in Corpus Christi, Texas, TOR Minerals is a global manufacturer and marketer of specialty mineral and pigment products for high performance applications, including synthetic titanium dioxide, color pigments, specialty aluminas, and other high performance mineral fillers. TOR Minerals has manufacturing and regional offices located in the United States, Netherlands and Malaysia. Contact for Further Information: |
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