CPE Media/Private Capital Journal provides Canada’s complete private capital financing news and intelligence.
The following are the deals summary for March 9, 2017.
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PE PIPE – Itafos (TSX-V: IFOS) has closed its previously announced private placement for gross proceeds of US $34,054,074 (which includes the shares for debt transaction ) at CDN $2.10 per share. Pala Investments Limited subscribed for 6,348,000 shares under the Offering and now beneficially owns 6,348,000 shares (or, approximately, 8.0% of the issued and outstanding shares on an undiluted basis. Zaff LLC, which is an insider and a related party, subscribed for a total of 8,388,781 shares under the offering and received 1,906,541 shares at an effective price of CAD$2.10 to settle an outstanding cash advance of US$3,000,000 recently made to the company on February 23, 2017. Zaff now beneficially owns, or exercises control or direction over, 65,868,991 shares (or approximately 83.04% of the issued and outstanding shares on an undiluted basis).
PUBLIC – Kontrol Energy Corp. (CSE: KNR) has closed the previously announced non-brokered private placement of 792,857 units at $0.70 per unit for gross proceeds of $555,000. It has also completion of a fifth closing under its previously announced private placement offering of debenture units for gross proceeds of $250,000.
M&A – Laborie Medical Technologies, a subsidiary of Patricia Industries, has completed its acquisition of ANDROMEDA Medizinische Systems GmbH of Potzham, Germany, a European market leader in Urodynamics. Financial terms were not disclosed.
PUBLIC – Bank of Montreal (TSX/NYSE: BMO) has closed its domestic public offering of 20 million Non-Cumulative 5-Year Rate Reset Class B Preferred Shares Series 40 (Non-Viability Contingent Capital (NVCC)) at a price of $25 per share for gross proceeds of $500 million. The offering was underwritten on a bought-deal basis by a syndicate of underwriters led by BMO Capital Markets.
PUBLIC – Namaste Technologies Inc. (CSE: N; FSE: M5BQ) has closed its previously announced bought deal, with Eight Capital and Canaccord Genuity Corp. as co-lead underwriters and joint bookrunners, of 45,352,000 units at $0.25 per unit for total gross proceeds of $11,338,000. Namaste intends to use the net proceeds for the acquisition of Australian Vaporizers PTY Ltd and for working capital and general corporate purposes.
PUBLIC – Denison Mines Corp. (TSX: DML; NYSE MKT: DNN) has completed its previously announced private placement offering of 5,790,000 common shares at CDN $0.95 per share, 8,482,000 Flow-Through shares at CND $1.12 per FT share and a further 4,065,000 FT shares at CDN $1.23 per FT share for aggregate gross proceeds of CDN $20,000,290. The offering was conducted through a syndicate of underwriters led by Paradigm Capital Inc.
PUBLIC – Radient Technologies (TSX-V: RTI) has closed a private placement of 15,333,333 units at $0.45 per unit for gross proceeds of $6,900,000. Aurora Cannabis (TSX-V: ACB) participated in the private placement as the lead investor for $1.21 million of the total proceeds. 11,333,333 units were placed on a brokered basis through Canaccord Genuity Corp.
PUBLIC – Cronos Group Inc. (TSX-V: MJN) has closed its previously announced bought deal public offering of 7,705,000 common shares at $2.25 per share for gross proceeds of approximately $17.3 million. The offering was underwritten by a syndicate led by Eight Capital.
PUBLIC – Nautilus Minerals Inc. (TSX: NUS; OTCQX: NUSMF) has closed its previously announced private placement pursuant to its financing notice dated February 17, 2017, delivered under its subscription agreement with Mawarid Offshore Mining Ltd. and Metalloinvest Holding (Cyprus) Limited. Nautilus issued an aggregate of 16,221,118 common shares at C$0.161 per share for aggregate proceeds of US $2,000,000. The private placement was allocated equally between the two Investors.
PUBLIC – Canada Strategic Metals Inc. (TSX-V: CJC; FSE: YXEN; OTCPK: CJCFF) has closed its private placement of 14,300,000 flow-through common shares at $0.175 per FT share for gross proceeds of $2,502,500. The private placement was led by Canaccord Genuity Corp.
PUBLIC – Mitel (NASDAQ: MITL; TSX: MNW) has closed a new US $500 million credit facility, consisting of a US $150 million term loan and a US $350 million revolving credit facility, both of which will mature in 2022.
M&A – Constellation Software Inc. (TSX: CSU) announced that its wholly-owned division Volaris Group has completed the acquisition of ShipNet A/S, a provider of enterprise resource planning (ERP) shipping solutions to the Marine industry. The acquisition is Volaris’ second acquisition in the Marine vertical.
PUBLIC – Reunion Gold Corporation (TSX-V: RGD) has completed its recently announced non-brokered private placement of 7,133,660 common shares at a price of $0.10 per share for gross proceeds of $713,366.
PUBLIC – East Asia Minerals Corporation (TSX-V: EAS) has completed its non-brokered private placement of 94,000,000 units at $0.01 per unit for gross proceeds of $940,000.
PUBLIC – Alternate Health Corp. (CSE: AHG, OTC: ATEHF) has closed a non-brokered private placement of 2,328,940 common shares at a price of $3.25 per share for gross proceeds of $7,569,055 less finder’s fees of $259,330.50.
M&A – Hyduke Energy Services Inc. has closed previously announced acquisition of all of the issued and outstanding common shares of Western Manufacturing Ltd., a private corporation engaged in the business of production tank manufacturing and other oilfield equipment manufacturing. In addition, Hyduke acquired the assets of Ledarco Industries Ltd., an affiliated company to Western involved in the regional transportation of manufactured components, raw materials and finished products. Total consideration for the shares of Western and the assets of Ledarco will total approximately $5.5 million to be satisfied by a combination of cash, debt assumption.
PUBLIC – Margaux Resources Ltd. (TSX-V: MRL; OTCQB: MARFF) has closed the first tranche of its previously announced non-brokered private placement by issuing: 4,876,661 units at $0.30 per unit for gross proceeds of $1,462,998; and 1,237,998 CEE flow-through common shares at $0.36 per FT share for gross proceeds of $445,679.
PUBLIC – White Gold Corp. (TSX-V: WGO) has entered into an agreement with GMP Securities L.P. and Clarus Securities Inc. for a “best efforts” private placement of up to 5,555,500 flow-through common shares at $1.80 per FT share for gross proceeds of up to approximately $10.0 million.
PUBLIC – Ventripoint Diagnostics Ltd. (TSX-V: VPT) intends to complete a non-brokered private placement of up to 6,250,000 units at $0.32 per unit for gross proceeds of up to $2,000,000.
PUBLIC – Senator Minerals Inc. (TSX-V: SNR; OTCGM: SNRAF; FSE: T1KA) intends to close a non-brokered private placement of up to 1,100,000 common shares at a price of $1.00 per share for gross proceeds of up to $1,100,000.
PUBLIC – Valeant Pharmaceuticals International, Inc. (TSX/NYSE: VRX) has launched an offering of US $2.5 billion aggregate principal amount of senior secured notes in two tranches, one of which would mature in 2022 and one in 2024. The offering of notes is being conducted in connection with the company’s previously announced refinancing and amendment of its existing credit agreement.
PUBLC – Dollarama Inc. (TSX: DOL) has priced an offering of $225 million aggregate principal amount of series 2 floating rate senior unsecured notes due March 16, 2020. The Notes are being offered through an agency syndicate consisting of RBC Capital Markets and CIBC Capital Markets, as joint bookrunners and co-lead private placement agents. The offering is expected to close on or about March 16, 2017.
PIUBLIC – Tribute Resources Inc. (TSX-V: TRB) intends to close a private placement of 10% unsecured subordinated convertible debentures due March 31, 2019 for an aggregate principal amount of $900,000.
M&A/PUBLIC – AcuityAds Holdings Inc. (TSX-V: AT; OTCQB: ACUIF) has entered into a definitive agreement to acquire Visible Measures Corporation, a Boston-based programmatic platform provider for analytics-led video advertising, for US $10M in cash. It is expected that this transaction will be completed on or about March 31, 2017. The purchase price for the acquisition of Visible Measures will be satisfied with the net proceeds of proposed $7.5M offering and by way a new US $10M Revolving Line of Credit with Silicon Valley Bank. AcuityAds has entered into an agreement with a syndicate of underwriters co-led by Paradigm Capital Inc. and Haywood Securities Inc. for a bought deal of 2,206,000 common shares at $3.40 per share for gross proceeds of approximately CDN $7.5M.
PUBLIC – MedX Health Corp. (TSX-V: MDX) has engaged with Wildlaw Capital Markets Inc. for on a “best efforts” basis private placement of units at $0.12 per unit for gross proceeds of up to $3,000,000. Each unit is comprised of one common share and one common share purchase warrant. Each warrant will be exercisable to acquire one share for a period of three years at an exercise price of $0.20 per share.
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