CPE Media/Private Capital Journal provides Canada’s complete private capital financing news and intelligence.
The following are the deals summary for March 1, 2017.
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Completed Deals
PUBLIC – Rathdowney Resources Ltd. (TSX-V: RTH) has completed a private placement of 36,313,345 units for aggregate proceeds (including two previously announced tranches) of approximately $6.9 million.
PUBLIC – ARHT Media Inc. (TSX-V: ART) has closed previously announced CDN $2 million non-brokered private placement financing with NetDragon Websoft Holdings Limited (HKSE: 00777). NetDragon indirectly purchased 13,333,333 common shares at CDN $0.15 per share. ARHT’s shareholders overwhelmingly approved the private placement financing and the creation of NetDragon as a new control person at the ARHT special shareholder meeting held on February 23, 2017. NetDragon now indirectly owns approximately 29.72% of ARHT’s issued and outstanding common shares on a non-diluted basis through its wholly owned subsidiary, NetDragon Websoft Inc. BVI
GRANT – Federal Economic Development Agency for Southern Ontario (FedDev Ontario) is investing $5.25 million in two Tillsonburg-based manufacturers. Marwood Metal Fabrication Limited, a metal stamping and assembly company operating as a Tier 1 supplier to the automotive industry, is receiving an investment of up to $4.27 million. Otter Valley Foods Inc., a food manufacturer which provides private label frozen entrees to large grocery chains in Canada, is receiving up to $975,000.
PUBLIC – Rockhaven Resources Ltd. (TSX-V: RK) has closed previously announced private placement of 3,750,000 common shares to Coeur Mining, Inc. (NYSE: CDE) at a price of $0.18 per share for gross proceeds of $675,000
PUBLIC – Knick Exploration Inc. (TSX-V: KNX) has closed first tranche of proposed private placement of 382 units at $1,000 per unit for gross proceeds of $382,000. Additional closings can be completed until March 15, 2017. Each unit is comprised of 3,333 common shares at $0.06 each, 13,333 flow-through common shares at $0.06 each and 3,333 common share purchase warrants, each warrant entitling its holder to purchase a common share at a price of $0.08 for a period of 12 months.
PUBLIC – Global Energy Metals Corp. (TSX-V: GEMC) has announced its listing on the TSX Venture Exchange and the closing of previously announced non-brokered private placement of 8,433,333 units at $0.15 per unit for gross proceeds of $1,265,000,
PUBLIC – Alta Vista Ventures Ltd. (CSE: UAV) has closed first tranche of private placement of 5,070,000 units at $0.05 per unit for gross proceeds of $253,500.
PUBLIC – Plateau Uranium Inc. (TSX-V: PLU; FSE: QG1) has completed its previously announced non-brokered private placement of 3,452,380 units at CDN $0.42 per unit for gross proceeds of approximately CDN $1.45 million
PUBLIC – Fortis Inc. (TSX/NYSE: FTS) has entered into an agreement with an institutional investor in the United States to issue and sell 12,195,122 common shares at CDN $41.00 per share for gross proceeds of approximately C$500,000,000.
PE – Founders Advantage Capital Corp. (TSX-V: FCF) has closed acquisition of 52% majority stake in Cape Communications International Inc., oa IMPACT Radio Accessories, for $12M in cash. The transaction was completed between FAC, Keith Kostek, IMPACT’s President and founder, and Kostek’s related entities.
Announced Deals
PUBLIC – MGX Minerals Inc. (CSE: XMG; FSE: 1MG; OTC: MGXMF) has entered into an engagement letter with Mackie Research Capital Corp. for a proposed a private placement for up to $5 million through the issuance of special warrants.
PUBLIC – Vermilion Energy Inc. (TSX/NYSE: VET) intends to issue up to US$300 million aggregate principal amount of 8 year senior unsecured notes in a private offering. The company intends to use the net proceeds to repay a portion of the debt outstanding on its revolving credit facility.
PUBLIC – Bee Vectoring Technologies International Inc. (TSX-V: BEE) intends to close a non-brokered private placement of up to 6,000,000 units at $0.25 per unit for gross proceeds of up to $1,500,000.
PUBLIC – Eureka Resources Inc. (TSX-V: EUK) intends to close a private placement of up to of 10,000,000 units at $0.10 per unit for gross proceeds of up to $1,000,000.
PUBLIC – Identillect Technologies Corp. (TSX-V: ID) intends to close a non-brokered private placement of 3,200,000 common shares at a price of $0.10 per share for gross proceeds of $320,000.
PUBLIC – ExGen Resources Inc. (TSX-V: EXG; OTCPK: BXXRF) intends to close private placement of up to 2,000,000 units at price of $0.05 per unit for gross proceeds of up to $100,000.
photo credit: Ted Liu, CPE Media