Newmont Mining (NYSE:NEM) has boosted its stake in Loncor Resources (TSX-V:LN) to about 17 percent in a $3.9 million private placement.
Terms of the agreement are Newmont will buy 2 units of Loncor for C$1.95. The units will be made up of one common share of Loncor and one-half of a common share purchase warrant.
For a price of C$2.30, full warrants will be able to be exercised for a period of two years from the closing date, for one more common share of Loncor.
Newmont already owns 2 million warrants, which under the terms of the deal they could use to acquire one common share in Loncor as well, which would provide the company with another C$2.9 million in capital if Newmont decides to take that action.
At this time Newmont holds 9.2 percent of Loncor, and when the deal is completed it will increase to 16.87 percent.
Loncor said it will use the capital for general purposes and to explore holdings in the Democratic Republic of Congo.
Showing posts with label Private Placement. Show all posts
Showing posts with label Private Placement. Show all posts
Monday, December 13, 2010
Monday, December 6, 2010
Clearwire (Nasdaq:CLWR) in $1.1 Billion Private Placement
Clearwire (Nasdaq:CLWR) said they've raising capital via a $1.1 billion debt private placement.
Commenting on it, Canaccord said, "Clearwire announced the private placement of a $1.1-billion debt raise consisting of: 1) $175 million in 2015 first- priority senior notes; 2) $500 million in 2017 second priority senior notes; and 3) $500-million 2040 Exchange Notes, plus an additional $100-million overallotment. The offering includes the right for existing shareholders to purchase up to an additional $585 million in exchange notes on a pro-rata basis. Separately, Sprint (NYSE: S) also announced three appointees to the Clearwire board. Credit Suisse believes that this is positive for Sprint for several reasons: 1) it reduces the risk that Sprint will have to bid for Clearwire; 2) it also appears that Sprint will buy $585 million of exchange notes, with capital going in as debt rather than equity; 3) demonstrates that Clearwire has access to capital other than from Sprint; and 5) total amount of the debt coming in is more than expected by Credit Suisse, which means that Sprint is on the hook for less than expected. There is one negative, though, Clearwire would have received much better terms on debt if it came with equity. As such, Credit Suisse believe that this suggests Sprint and Clearwire are not as close to an agreement as had been hoped. The analyst had hoped for a final resolution of their issues before year end, but perhaps this will drag into Q1/11. Credit Suisse expects the debt to be successfully placed, allowing the company to raise at least $1.1 billion for its capital roll out, but potentially this financing could raise as much as $1.9 billion, which should Clearwire’s funding needs for 3-4 quarters.
Clearwire Corporation closed Friday at $6.03, up by $0.13, or 2.20 percent. Volume was over 4 times the usual 3-month daily average.
Commenting on it, Canaccord said, "Clearwire announced the private placement of a $1.1-billion debt raise consisting of: 1) $175 million in 2015 first- priority senior notes; 2) $500 million in 2017 second priority senior notes; and 3) $500-million 2040 Exchange Notes, plus an additional $100-million overallotment. The offering includes the right for existing shareholders to purchase up to an additional $585 million in exchange notes on a pro-rata basis. Separately, Sprint (NYSE: S) also announced three appointees to the Clearwire board. Credit Suisse believes that this is positive for Sprint for several reasons: 1) it reduces the risk that Sprint will have to bid for Clearwire; 2) it also appears that Sprint will buy $585 million of exchange notes, with capital going in as debt rather than equity; 3) demonstrates that Clearwire has access to capital other than from Sprint; and 5) total amount of the debt coming in is more than expected by Credit Suisse, which means that Sprint is on the hook for less than expected. There is one negative, though, Clearwire would have received much better terms on debt if it came with equity. As such, Credit Suisse believe that this suggests Sprint and Clearwire are not as close to an agreement as had been hoped. The analyst had hoped for a final resolution of their issues before year end, but perhaps this will drag into Q1/11. Credit Suisse expects the debt to be successfully placed, allowing the company to raise at least $1.1 billion for its capital roll out, but potentially this financing could raise as much as $1.9 billion, which should Clearwire’s funding needs for 3-4 quarters.
Clearwire Corporation closed Friday at $6.03, up by $0.13, or 2.20 percent. Volume was over 4 times the usual 3-month daily average.
Friday, July 9, 2010
Goldcorp (NYSE:GG) (TSE:G) has acquired 19,047,721 Shares of Evolving Gold (TSE:EVG) in a private placement for $0.82 a share.
In a press release, Evolving Gold said they raised $15,619,131.22 in the private placement, which they'll use "to explore the Company's major exploration properties, the Rattlesnake Hills project in Wyoming and Carlin and Humboldt projects in Nevada.."
Evolving Gold CEO, Robert Barker, said this about the deal, "We are extremely pleased to establish a strong relationship with Goldcorp. We view this placement as a major vote of confidence in our two key exploration properties, Rattlesnake Hills in Wyoming and Carlin and Humboldt in Nevada, and in the quality of our exploration team. This additional funding places Evolving Gold in a solid position to continue to aggressively explore these projects, which are both characterized as large scale gold systems. We focus our exploration on large systems, with potential for the discovery of large gold deposits. Success when exploring these large systems requires a high level of geological expertise, perseverance, commitment to drilling, and solid financing. This latest addition to our treasury comes at a critical point in our exploration program. We now have the financing to continue to support our exploration team as we drive toward creating new value for our shareholders with major new gold discoveries."
The total investment represents about 15 percent of all outstanding and issued common shares in the gold miner.
Closing of the deal is expected on July 9, 2010.
Evolving Gold CEO, Robert Barker, said this about the deal, "We are extremely pleased to establish a strong relationship with Goldcorp. We view this placement as a major vote of confidence in our two key exploration properties, Rattlesnake Hills in Wyoming and Carlin and Humboldt in Nevada, and in the quality of our exploration team. This additional funding places Evolving Gold in a solid position to continue to aggressively explore these projects, which are both characterized as large scale gold systems. We focus our exploration on large systems, with potential for the discovery of large gold deposits. Success when exploring these large systems requires a high level of geological expertise, perseverance, commitment to drilling, and solid financing. This latest addition to our treasury comes at a critical point in our exploration program. We now have the financing to continue to support our exploration team as we drive toward creating new value for our shareholders with major new gold discoveries."
The total investment represents about 15 percent of all outstanding and issued common shares in the gold miner.
Closing of the deal is expected on July 9, 2010.
Saturday, January 3, 2009
Azteca Gold Corp. Announces First Closing of Private Placement
SPOKANE, WASHINGTON, Jan 02, 2009 (MARKET WIRE via COMTEX) ----Matthew Russell, President of Azteca Gold Corp. (TSX VENTURE: AZG) ("Azteca" or the "Company") announces that on December 31, 2008 the Company closed a non-brokered private placement for gross proceeds of $1,183,302. The Company issued 23,666,044 units, each unit consisting of one common share and one-half share purchase warrant. Each warrant entitles the holder to purchase one common share for $0.25 until December 31, 2010. Shares issued pursuant to this financing are subject to a 4 month hold period ending May 1, 2009.
The Company will extend the private placement by conducting a second and final closing on or before Wednesday, January 7, 2009. The Company will sell up to an additional 10,000,000 Units for gross proceeds of CAD $500,000.
Funds will be used for drilling and assaying expenses on the Company's 50% owned Two Mile Project as well as general working capital. Insiders subscribed for 63.1% of the amount raised.
Timing of Two Mile Project Assays
The Company expects to receive first preliminary assays on the mineralization of hole DDH-005A from the assay lab the week of January 5, 2009. Assaying and subsequent assay releases will be ongoing for holes DDH-005A, DDH-005B, and DDH-006 during 2009.
WARNING: the Company relies upon litigation protection for "forward looking" statements. The information in this release may contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the forward-looking information. Factors that may cause actual results to vary materially include, but are not limited to, changes in laws or regulations, the risks of obtaining final approval from necessary regulatory bodies in connection with the Private Placement, inaccurate assumptions concerning the exploration for and development of mineral deposits and timing related to receipt of the preliminary assays. Readers are cautioned not to place undue reliance on this forward-looking information. The Company does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.
Shares issued: 136,441,996
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contacts: Azteca Gold Corp. Jon Slizza VP of Finance (509) 981-2020
Email: info@azteca-au.com SOURCE: Azteca Gold Corp.
mailto:info@azteca-au.com Copyright 2009
Market Wire, All rights reserved.
The Company will extend the private placement by conducting a second and final closing on or before Wednesday, January 7, 2009. The Company will sell up to an additional 10,000,000 Units for gross proceeds of CAD $500,000.
Funds will be used for drilling and assaying expenses on the Company's 50% owned Two Mile Project as well as general working capital. Insiders subscribed for 63.1% of the amount raised.
Timing of Two Mile Project Assays
The Company expects to receive first preliminary assays on the mineralization of hole DDH-005A from the assay lab the week of January 5, 2009. Assaying and subsequent assay releases will be ongoing for holes DDH-005A, DDH-005B, and DDH-006 during 2009.
WARNING: the Company relies upon litigation protection for "forward looking" statements. The information in this release may contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the forward-looking information. Factors that may cause actual results to vary materially include, but are not limited to, changes in laws or regulations, the risks of obtaining final approval from necessary regulatory bodies in connection with the Private Placement, inaccurate assumptions concerning the exploration for and development of mineral deposits and timing related to receipt of the preliminary assays. Readers are cautioned not to place undue reliance on this forward-looking information. The Company does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.
Shares issued: 136,441,996
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contacts: Azteca Gold Corp. Jon Slizza VP of Finance (509) 981-2020
Email: info@azteca-au.com SOURCE: Azteca Gold Corp.
mailto:info@azteca-au.com Copyright 2009
Market Wire, All rights reserved.
Paramount Gold and Silver Corp. Completes $2,000,000 Financing with the MineralFields Group
Paramount Gold and Silver Corp. (TSX: PZG)(NYSE-A: PZG)(AMEX: PZG)(FRANKFURT: P6G)is pleased to announce a private placement of CDN$2,000,000 through the sale of 3,636,363 units at $0.55 each to the MineralFields Group. Each flow through unit is comprised of one restricted common share and one share purchase warrant exercisable for a period of two years from closing at a price of $1.00 per share during the first year and $1.25 during the second year. First Canadian Securities received commission of 5% of the proceeds and warrants for acting as agent in the financing.
"We are very pleased to be entering into this relationship with MineralFields Group", said Christopher Crupi, CEO. "This is an important milestone in the growth of Paramount Gold and Silver Corp. and we look forward to working with MineralFields Group as we develop our projects in Canada.
Paramount Gold and Silver Corp. has also executed an agreement to acquire an interest in the Vidette Lake Gold Mine located in British Columbia, Canada and continues to look at other properties of interest. Further details regarding Paramount is available at www.paramountgold.com.
MineralFields Group (a division of Pathway Asset Management), based in Toronto and Vancouver, is a mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds (including the Pathway Multi Series Funds Inc. corporate-class mutual fund series). Information about MineralFields Group is available at www.mineralfields.com.
Contacts:
Paramount Gold and Silver Corp.
Christopher Crupi
CEO
613-226-9881
"We are very pleased to be entering into this relationship with MineralFields Group", said Christopher Crupi, CEO. "This is an important milestone in the growth of Paramount Gold and Silver Corp. and we look forward to working with MineralFields Group as we develop our projects in Canada.
Paramount Gold and Silver Corp. has also executed an agreement to acquire an interest in the Vidette Lake Gold Mine located in British Columbia, Canada and continues to look at other properties of interest. Further details regarding Paramount is available at www.paramountgold.com.
MineralFields Group (a division of Pathway Asset Management), based in Toronto and Vancouver, is a mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds (including the Pathway Multi Series Funds Inc. corporate-class mutual fund series). Information about MineralFields Group is available at www.mineralfields.com.
Contacts:
Paramount Gold and Silver Corp.
Christopher Crupi
CEO
613-226-9881
Wednesday, December 10, 2008
Yukon-Nevada Gold Corp. Announces Increase to Private Placement
VANCOUVER, Dec. 10, 2008 (Canada NewsWire via COMTEX) ----Yukon-Nevada Gold Corp. (Toronto Stock Exchange ("TSX"): YNG; Frankfurt Xetra Exchange: NG6) Graham Dickson, the President of Yukon-Nevada Gold Corp. (the "Company"), announces that further to the Company's news release of December 4, 2008 announcing the increase to the Company's previously announced non-brokered private placement, the number of Units to be offered has been increased from 79,300,000 Units to 79,800,000 Units at $0.05 per Unit in the capital stock of the Company, thereby increasing the amount raised from $3,965,000 to $3,990,000. The maximum number of Shares to be issued pursuant to the private placement, including the underlying Warrants and the finder's fee (described below), is 261,600,000 Shares; being 141.06% of the Company's current issued and outstanding Shares, or 58.52% of the Company's then issued share capital.
All other terms of the private placement will remain the same.
Yukon-Nevada Gold Corp. is a North American gold company in the business of discovering, developing and operating gold deposits. The Company holds a diverse portfolio of gold, silver, zinc and copper properties in the Yukon Territory and British Columbia in Canada and in Arizona and Nevada in the United States. The Company's focus has been on the acquisition and development of late stage development and operating properties with gold as the primary target. Continued growth will occur by increasing or initiating production from the Company's existing properties.
If you would like to receive press releases via email please contact nicole@yngc.ca and specify "Yukon-Nevada Gold Corp. releases" in the subject line.
WARNING: The Company relies upon litigation protection for "forward-looking" statements.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
SOURCE: Yukon-Nevada Gold Corp.
Yukon-Nevada Gold
Corp., Nicole Sanches, Investor Relations Manager, Tel: (604) 688-9427, Email: nicole@yngc.ca, www.yukon-nevadagold.com; CHF
Investor Relations, Jacqueline Wagenaar, Account Manager, Tel: (416) 868-1079 ext. 289, Email: jacqueline@chfir.com, www.chfir.com
Copyright (C) 2008 CNW Group. All rights reserved
All other terms of the private placement will remain the same.
Yukon-Nevada Gold Corp. is a North American gold company in the business of discovering, developing and operating gold deposits. The Company holds a diverse portfolio of gold, silver, zinc and copper properties in the Yukon Territory and British Columbia in Canada and in Arizona and Nevada in the United States. The Company's focus has been on the acquisition and development of late stage development and operating properties with gold as the primary target. Continued growth will occur by increasing or initiating production from the Company's existing properties.
If you would like to receive press releases via email please contact nicole@yngc.ca and specify "Yukon-Nevada Gold Corp. releases" in the subject line.
WARNING: The Company relies upon litigation protection for "forward-looking" statements.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
SOURCE: Yukon-Nevada Gold Corp.
Yukon-Nevada Gold
Corp., Nicole Sanches, Investor Relations Manager, Tel: (604) 688-9427, Email: nicole@yngc.ca, www.yukon-nevadagold.com; CHF
Investor Relations, Jacqueline Wagenaar, Account Manager, Tel: (416) 868-1079 ext. 289, Email: jacqueline@chfir.com, www.chfir.com
Copyright (C) 2008 CNW Group. All rights reserved
Subscribe to:
Posts (Atom)