CPE Media/Private Capital Journal provides Canada’s complete private capital financing news and intelligence.
The following are the deals summary for March 3, 2017.
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Completed Deals
PUBLIC – Banyan Gold Corp. (TSX-V: BYN) has completed a non-brokered private placement of 9,361,316 shares for gross proceeds of $800,000, including $350,000 from Alexco Resource Corp and $100,000 from Victoria Gold Corp.
PUBLIC – Rubicon Minerals Corporation (TSX: RMX; OTCPK: RBYCD) has closed its previously announced bought deal private placement financing of 3,895,000 flow-through common shares at $2.57 per Flow-Through share for gross proceeds of $10,010,150. The offering was conducted by a syndicate of underwriters led by BMO Capital Markets, Mackie Research Capital Corporation, and TD Securities Inc.
PUBLIC – Napier Ventures Inc. (TSX-V: NAP) has closed the first tranche of its non-brokered private placement previously announced April 21, 2016 for gross proceeds of $1,000,000 comprised of 4,000,000 common shares at a price of $0.25 per share.
PUBLIC – H-Source Holdings Ltd. (TSX-V: HIS; OTCQB: HSCHF) has completed its previously announced private placement of 17,890,000 common shares at $0.18 per share for gross proceeds of $3,220,200. The offering was conducted by a syndicate of agents led by Mackie Research Capital and including Clarus Securities Inc. and Haywood Securities Inc.
GRANT – Federal Economic Development Agency for Southern Ontario (FedDev Ontario) is investing up to $750,000 in iS5 Communications Inc. through the Investing in Business Innovation initiative.
PUBLIC – Equitas Resources Corp. (TSX-V: EQT; FSE: T6UP; OTCPK: EQTRF) has closed the second tranche of the non-brokered private placement, raised an additional $752,314 through the issuance of 4,179,521 units at a price of $0.18 per unit. The total combined proceeds for the first and second tranches amounts to $2,518,002 through the issuance of 13,988,900 units.
PUBLIC – KWG Resources Inc. (CSE: KWG; FSE: KW6) has closed previously announced private placement of units 7,500,000 units to accredited investors for gross proceeds of $157,500.
PUBLIC – Mosaic Capital Corporation (TSX-V: M) has closed previously announced subscription privileges offering, issuing 1,550,302 common shares at a subscription price of $9.80 per share for gross proceeds of $15,192,960.
Announced Deals
PUBLIC – IAMGOLD Corporation (TSX: IMG; NYSE: IAG) has commenced an offering of $500 million aggregate principal amount of senior notes due 2025 . IAMGOLD intends to use the net proceeds from the offering of the Notes, together with cash on hand, to fund the redemption of its outstanding 6.75% Senior Notes due 2020.
PUBLIC – Satori Resources Inc. (TSX-V: BUD) intends to close private placement of up to 5,882,353 units at $0.17 per unit for gross proceeds up to $1,000,000.
PUBLIC – Easton Pharmaceuticals Inc. (OTCPK: EAPH), formerly L.A.M. Pharmaceutical, Corp., has closed on an interim financing facility up to $2,000,000.. This facility also provides for an additional commitment of funds depending upon the company’s requirements. Terms of the facility are in the form of a loan, convertible to restricted common shares of Easton stock.
PUBLIC – Peekaboo Beans Inc. (TSX-V: BEAN) has engaged Canaccord Genuity Corp. for a private placement of up to 6,666,667 units at a price of $0.75 per unit for gross proceeds of up to $5,000,000. Each unit is comprised of one common share and one common share purchase warrant exercisable into one common share at $1.05 for a period of 24 months following closing.
PUBLIC – Northern Graphite Corporation (TSX-V: NGC; OTCQX: NGPHF) intends to complete a non-brokered private placement of up 8.33 million units at a price of $0.30 per unit for gross proceeds of up to $2.5 million. Each unit will consist of one common share and one half of one common share purchase warrant with each full warrant entitling the holder to purchase one common share at a price of $0.40 per share for a period of two years.
PUBLIC – Cadillac Ventures Inc. (TSX-V: CDC; OTCGM: CADIF) has arranged a non-brokered private placement for up to $900,000. The company has negotiated an offer from several independent investors for a total of $600,000 to acquire 12,000,000 units at $0.05 each.
M&A – Northland Power Inc. (TSX: NPI) and Highland Group Holdings Ltd., through a wholly owned subsidiary, have signed a definitive agreement whereby Northland will acquire 100% of Deutsche Bucht, Northland’s third offshore wind project, a 252 MW offshore wind project currently in advanced development. The total estimated project cost is approximately EUR 1.2 billion (approximately CAD $1.8 billion), and once operational, it is expected to generate over 1,000 gigawatt hours of electricity per year. Northland expects to invest approximately $400 million of corporate funds with the balance of the project cost provided by project financing and pre-completion revenues. Financial closing is expected mid-2017.
PUBLIC – Montana Exploration Corp. (TSX-V: MTZ) intends to undertake a non-brokered private placement offering of up to 1,289,603 common shares at a price of $0.195 per share for gross proceeds of up to $251,472.59
photo credit: Ted Liu, CPE Media