CPE Media/Private Capital Journal provides Canada’s complete private capital financing news and intelligence.
The following are the deals summary for February 22, 2107.
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PUBLIC/INFRASTRUCTURE – Boralex Inc. (TSX: BLX) has closed a $33.4 million financing with DZ Bank AG Deutsche Zentral-Genossenschaftsbank (New York Branch) for the Port Ryerse wind farm in Ontario. On February 7, 2017, Boralex acquired all of the units of UDI Renewables Corporation, representing 25 % of Port Ryerse Wind Farm Limited Partnership, making Boralex the sole project holder.
PUBLIC – QMX Gold Corporation (TSX-V: QMX) has completed the previously announced non-brokered private placement financing of 8,666,637 flow-through common shares at a price of $0.30 per share for gross proceeds of $2.6 million. Osisko Gold Royalties Ltd (TSX/NYSE: OR) acquired 8.3 million shares, which increases its ownership to approximately 16.5% of the issued and outstanding shares of QMX Gold.
PUBLIC – AltaGas Ltd. (TSX: ALA) has closed its previously announced public offering of 12,000,000 Cumulative 5-Year Minimum Rate Reset Redeemable Preferred Shares, Series at $25.00 per Series K Preferred Share for gross proceeds of $300 million. The offering was conducted through syndicate of underwriters co-led by CIBC Capital Markets, BMO Capital Markets, National Bank Financial Inc. and Scotiabank. Stikeman Elliott LLP and Blake, Cassels & Graydon LLP acted as legal counsels in connection with the offering.
PUBLIC – Quest Rare Minerals Ltd. (TSX: QRM) has closed first tranche of its previously-announced private placement, issuing 8,100,000 special warrants at $0.20 per special warrant for gross proceeds of $1,620,000. Secutor Capital Management Corporation acted as lead agent for the private placement.
PUBLIC – Harvest One Capital Inc. (TSX-V: WON.H) has closed previously announced private placement of33,334,000 subscription receipts at $0.75 per subscription receipt for gross proceeds of $25,000,500. The offering was made by a syndicate of agents led by Mackie Research Capital Corporation and including Canaccord Genuity Corp., Eight Capital and GMP Securities L.P. The financing was completed in connection with the previously announced acquisition from MMJ PhytoTech Limited of 100% of the issued and outstanding shares of United Greeneries Holdings Ltd. and Satipharm AG, both wholly owned subsidiaries of MMJ.
PUBLIC – Icon Exploration Inc. (TSX-V: IEX; OTCPK: LRZZF), a mineral exploration company, intends to close a non-brokered private placement of up to 7,000,000 units at a price of $0.05 per unit for gross proceeds of up to $350,000.
PUBLIC – CanAlaska Uranium Ltd. (TSX-V: CVV; OTCQB: CVVUF; FSE: DH7N) intends to close a non-brokered private placement of up to 2,000,000 units at $0.56 per unit for gross proceeds of up to $1,120,000.
PUBLIC – Northcliff Resources Ltd. (TSX: NCF) intends to close a private placement of up to 36,363,636 common shares at $0.11 per share for gross proceeds of up to $4 million. The Todd Corporation currently owns a total of 48,541,616 common shares, representing 36.3% of the outstanding Common Shares. Pursuant to its pre-emptive right to maintain its interest at 36.3%, Todd will have the option to participate in the Follow-on Financing to the extent of its 36.3% interest for up to 13,204,439 shares.
PUBLIC – IDM Mining Ltd. (TSX-V: IDM), a mineral exploration company focused on precious metals in British Columbia and Yukon, intends to close private placement with Osisko Gold Royalties Ltd (TSX/NYSE: OR) of 29,400,000 common shares at a price of $0.17 per share and 41,000,000 million flow-through common shares at a price of $0.25 per share for total proceeds of $15,248,000.
PUBLIC – Eurasian Minerals Inc. (TSX-V/NYSE MKT: EMX) intends to complete a non-brokered private placement of 5,000,000 units at CDN $1.40 per unit for gross proceeds of up to CDN $7,000,000. Each unit will consist of one common share and one-half of one non-transferable share purchase warrant. Each whole warrant will entitle the holder to purchase one additional share at a price of $2.00 for a period of two years.
PUBLIC – Ascendant Resources Inc. (TSX-V: SAND), formerly Morumbi Resources Inc., a mining company focused on its flagship operating asset, the producing El Mochito zinc, silver and lead mine in west-central Honduras, to close offering of 20,500,000 at a price of $0.85 per unit for gross proceeds of $17,425,000. Eight Capital acts as the sole underwriter and bookrunner.
PUBLIC – Lithium X Energy Corp. (TSX-V: LIX; OTCQB: LIXXF), a lithium exploration and development company, has entered into an agreement with a syndicate of underwriters co-led by Canaccord Genuity Corp. and GMP Securities L.P. for a bought deal of 7,900,000 shares at $1.90 per share for gross proceeds of C$15,010,000.
PUBLIC – North American Energy Partners Inc. (TSX/NYSE: NOA), a heavy construction and mining contractor, has entered into an agreement with a syndicate of underwriters co-led by National Bank Financial Inc. and Canaccord Genuity Corp. for an offering of $40,000,000 aggregate principal amount of convertible unsecured subordinated debentures due March 31, 2024 at a price of $1,000 per debenture.
PUBLIC – Millennial Lithium Corp. (TSX-V: ML) intends to complete a non-brokered private placement of up to 6,000,000 units at a price of $1.45 per unit for gross proceeds of $8,700,000.
PUBLIC – Benz Mining Corp. (TSX-V: BZ.H) intends to close private placement of up to 4,166,666 units at $0.12 per unit for gross proceeds of up to $500,000. Each unit consisting of one common share in the capital and one whole common share purchase warrant. Each warrant will entitle the holder to purchase one share at a price of $0.15 per share for a period of 24 months following closing.
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