Completed and announced deals – February 15, 2017

Ted Liu

CPE Media/Private Capital Journal provides Canada’s complete private capital financing news and intelligence.

The following are the completed and announced deals for February 15, 2107.

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Completed Deals

PRIVATE – Cambridge Mortgage Investment Corporation has closed a private placement for $1,167,000.

PUBLIC – CannaRoyalty Corp. (CSE: CRZ), an investor and operator in the legal cannabis sector, has closed its previously announced offering of 5,000,000 units at $3.00 per unit for gross proceeds of $15 million. The offering was completed by a syndicate of underwriters led by Canaccord Genuity Corp.

PUBLIC – Ag Growth International Inc. (TSX: AFN), a leading manufacturer of grain and fertilizer equipment, has closed its previously announced public offering of 1,150,000 common shares at $55.10 per share for gross proceeds of $63.4 million. A syndicate led by CIBC Capital Markets, National Bank Financial Inc. and TD Securities Inc. acted as underwriters for the offering. Burnet, Duckworth & Palmer LLP and Stikeman Elliott LLP acted as legal counsels to Ag Growth and the underwriters.

PUBLIC – Columbus Gold Corp. (TSX: CGT; OTCQX: CBGDF) has closed its previously announced bought deal offering of 8,000,000 common shares at $0.63 per share for gross proceeds of $5,040,000. The offering was led by Beacon Securities Limited. Proceeds will be used to carry out an exploration drilling program at Columbus’ Montagne d’Or gold project in French Guiana. McMillan LLP and Bennett Jones LLP acted as legal counsels to Columbus Gold and the underwriters respectively.

M&A – Strad Energy Services Ltd. (TSX: SDY) has acquired Got Mats?, a privately owned business based in Elkhorn, Manitoba. Consideration for the acquisition consisted of 2,143,375 class A common shares of Strad and $1.0 million in cash consideration at closing, representing a total transaction value of approximately $4.8 million.

M&A – Enbridge Energy Partners, L.P. (NYSE: EEP) has closed previously disclosed transaction to acquire an effective 27.6 percent interest in the Bakken Pipeline System, consisting of the Dakota Access Pipeline and the Energy Transfer Crude Oil Pipeline projects, both of which will be operated by Energy Transfer Partners, L.P. EEP will initially fund the $1.5 billion acquisition through a bridge loan provided by an affiliate of Enbridge Inc.

M&A – Petrocapita Income Trust (CSE: PCE.UN) has closed a Purchase and Sale Agreement on February 13, 2017 for 10 wells and associated production equipment in the Kitscoty area of Alberta from Twin Butte Energy Ltd. through Twin Butte’s Receiver Manager, FTI Consulting Canada Inc. for $21,825.29

PUBLIC – Catalina Gold Corp. (TSX-V: CA.H), formerly Valparaiso Energy Inc., has completed previously announced non-brokered private placement of 10,451,800 units at $0.05 per unit for gross proceeds of $522,590.

Announced Deals

PUBLIC – Grizzly Discoveries Inc. (TSX-V: GZD; FSE: G6H; OTCPK: GZDIF), a mineral exploration company focused on developing significant Potash assets in Alberta and precious metals properties in southeastern British Columbia, intends to close a private placement of up to 5,000,000 non-flow-through units at a price of $0.05 per NFT unit for gross proceeds of up to $250,000, and up to 4,500,000 FT units at a price of $0.07 per FT unit for gross proceeds of up to $315,000.

M&A – SG Spirit Gold Inc. (TSX-V: SG) has entered into a definitive amalgamation agreement, effective February 10, 2017, with Northern Lights Marijuana Company Limited, a privately-owned company based in the Okanagan Valley, that is committed to becoming a licensed producer of marijuana under ACMPR.

PUBLIC – Fortune Minerals Limited (TSX: FT; OTCQX: FTMDF), a development stage mining company focused on advancing the vertically integrated NICO gold-cobalt-bismuth-copper project in the Northwest Territories, has engaged Cormark Securities Inc. for a bought deal of 22,800,000 units at $0.25 per unit for gross proceeds of $5.7 million.

M&A – Northern Empire Resources Corp. (TSX-V: NM) has entered into a Letter of Intent with Sterling Gold Mining Corporation, a wholly owned subsidiary of Imperial Metals Corporation (TSX: III) to acquire a 100% interest in the Sterling property, located in Nye County, Nevada, and certain royalty rights for claims located in Nevada and California. The purchase price for the assets will consist of US $10 million cash and 5 million shares of Northern Empire. Northern Empire has engaged Cormark Securities Inc. as its financial advisor in connection with the proposed transaction and Acquisition financing. McCullough O’Connor Irwin LLP and Parsons Behle and Latimer are acting as legal advisors on the transaction. JDS Energy and Mining and Norwest Corporation act as technical advisors.

PUBLIC – Arak Resources Ltd. (TSX-V: AAC), a resource exploration company, intends to close a non-brokered private placement of up to 4,643,000 units at $0.14 per unit for gross proceeds of $650,020.

PUBLIC – Rio Novo Gold Inc. (TSX: RN), a gold mining company with properties in Brazil and Colombia, has completed a non brokered private placement with Adair Investments Ltd., a private Bahamas based company, of 12,271,763 Ordinary Shares at CDN $0.12 per Share for an aggregate subscription amount of CDN $1,472,612.

PUBLIC – Majescor Resources Inc. (TSX-V: MJX), a junior mining exploration company with an extensive portfolio of gold and diamond properties in Quebec, intends to close a non-brokered private placement of 10,000,000 units at $0.10 per unit for gross proceeds of $1 million.

PUBLIC – Metanor Resources Inc. (TSX-V: MTO) has engaged Red Cloud Klondike Strike Inc. and Sprott Capital Partners for a brokered private placement of up to 100,000,000 units at a price of $0.06 each and up to 13,333,333 flow-through shares at a price of $0.075 each for maximum aggregate gross proceeds of $7,000,000.

PUBLIC – Le Château Inc. (TSX: CTU.A) has entered into an agreement with a corporation controlled by Herschel Segal, the founder of Le Château and a director and a significant shareholder, for a financing of $2.0 million in the form of a secured loan.

PUBLIC – Agellan Commercial Real Estate Investment Trust (TSX: ACR.UN) as engaged RBC Capital Markets and BMO Capital Markets for a bought deal of 4,370,000 units at a price of $11.45 per unit for gross proceeds of $50,036,500.

PUBLIC – Abacus Mining & Exploration Corporation (TSX-V: AME), a mining company with a 20% interest in the Ajax copper-gold open-pit mine, intends to close a non-brokered private placement of 20,000,000 units at a price of $0.05 per unit for proceeds of $1,000,000.

PUBLIC – TAG Oil Ltd. (TSX: TAO; OTCQX: TAOIF), an international oil and gas producer with production infrastructure in New Zealand and Australia, has engaged Mackie Research Capital Corporation and Pareto Securities Ltd. for an offering on a commercially reasonable basis for gross proceeds up to $10,000,250.

PUBLIC – BWR Exploration Inc. (TSX-V: BWR), a mineral company focused on exploring for base and precious metals with its flagship Little Stull Lake Gold Project in NE Manitoba, intends to close a non-brokered private placement of up to 4 million non flow-through units at $0.05 per NFT unit for proceeds of up to $200,000 and 9 million flow-through units at $0.06 per FT unit for gross proceeds of $540,000.

PUBLIC – Enercare Inc. (TSX: ECI)/Enercare Solutions Inc. has entered into an agency agreement relating to the offering of $500 million aggregate principal amount of Senior Unsecured Notes. The Notes are being offered on a best efforts basis by a syndicate of agents co-led by TD Securities Inc. and National Bank Financial Inc. The offering is expected to close on or about February 21, 2017.

photo credit: Luciano Ribas via unsplash