BOSTON, Nov. 7, 2014 /PRNewswire/ -- IBS Capital LLC
("IBS"), a Boston-based investment
firm, today announced a $1,999,998
investment in a private placement of Applied Minerals, Inc. 10% PIK
Election Convertible Notes due 2018 ("Notes") with a strike price
of $0.92 per share. In
addition, contrary to press reports that IBS sold shares of Applied
Minerals, Inc. and concurrently with this investment, IBS
rebalanced its position in Applied Minerals, Inc. common stock by
transferring shares among the funds it manages. IBS did not
reduce the holdings of Applied Minerals, Inc. in the funds it
manages, it merely transferred shares between those funds to
address capital inflows and outflows.
About IBS Capital LLC
IBS Capital LLC ("IBS") is an investment management company
based in Boston, MA. Founded
in 1990, IBS is the general partner of two U.S. partnerships and
the investment manager of a non-U.S. fund. The IBS funds
pursue an "event-driven" strategy with a focus on distressed,
turnaround and special situation investments. The primary
goal of the funds is to generate superior, long-term after-tax
returns though the purchase and sale of stocks and bonds of
companies in the US and emerging markets that have limited downside
risk, but substantial appreciation potential. David Taft is the founder and President of
IBS. For more information, please visit
www.ibscapital.com.
SOURCE IBS Capital LLC
