Corporate finance deals Apr 9 to 13 2018

Thred has announced a capital raising by way of a fully-underwritten, non-renounceable pro-rata entitlement offer at an issue price of $0.004 per new share on the basis of one new share for every two existing shares held. Under the Offer, approximately 571 million new shares will be issued to raise up to approximately $2.36 million. The Offer is fully underwritten by CPS Capital Group Pty Ltd (Underwriter).

Red Mountain Mining has announced that the $500,000 Share Purchase Plan, which opened on 22 March 2018, is oversubscribed. In accordance with the SPP documentation lodged with ASX on 20 March 2018, the Directors have therefore closed the offer.

Lucapa Diamond Company has announced the Company has secured major investment backing from a new cornerstone investor and existing shareholders to advance its diamond projects and continue delivering on its growth strategy. The $16.5 million placement, at no discount to market price, will enable Lucapa to immediately launch an extensive follow-up exploration program, including further drilling, at the Brooking diamond discovery in Western Australia’s West Kimberley region.

A-Cap Resources has announced that the Company’s board of directors has unanimously resolved to raise approximately $4 million by way of a non-renounceable entitlement offer to shareholders of approximately 66,657,864 new ordinary shares on the basis of 2 new ordinary shares in the Company for every 6.54 ordinary shares held on 20 April 2018, at an issue price of 6 cents a share, which will be fully underwritten. It is proposed that the Offer will be fully underwritten by Jiangsu, a company registered and incorporated in China. Jiangsu is listed on National Equities Exchange and Quotations in China known as the New Third Board, the over-the-counter stock exchange in China. Jiangsu is a shareholder of the Company and currently holds as at the date of this announcement 357,786,934 ordinary shares out of 871,884,866 issued ordinary shares in the Company.

Auroch Minerals has completed the acquisition of 90% of the tenement known as the Arden Zinc Project and 100% of the tenement known as the Bonaventura Zinc Project located in the world-class base-metal mining region of South Australia.

MMJ PhytoTech has announced that it has invested $1 million for a 16.7% ownership stake in Biologics Research Institute Australia Pty Ltd, the owner of Cannabis Access, the leading online portal for medical cannabis access in Australia.

Newfield Resources has closed its pro-rata non-renounceable entitlement issue to raise approximately $30 million. The Company advises that it has received applications from shareholders subscribing for 110,804,904 shares in the Company totalling $16,620,735, made up as follows:

Entitlement shares taken up: 97,490,238 - $14,623,536

Priority shares applied for: 13,314,666 - $1,997,199

Total acceptances: 110,804,904 - $16,620,735

The shortfall of 89,426,764 shares ($13,414,015) has been notified to the underwriter, Townshend Capital Pty Ltd, who has fully underwritten the Offer.

Hawkstone Mining has announced that it has elected to exercise the Option to purchase 100% of USA Lithium, which owns a 100% interest in the Big Sandy Lithium Clay project located in Arizona, USA and the Lordsburg Lithium Brine project located in New Mexico, USA.

The Board of Directors of Antares Energy is pleased to advise that following receipt of Shareholder approval at the Company’s Extraordinary General Meeting on 23 January 2018, the Company has completed the First Placement, raising $376,875.

Cervantes Corporation has placed all of the available shares and attaching options. 40,199,593 fully paid shares together with 13,399,864 (one for three) free attaching options were placed to professional investors under ASX listing Rule 7.1 to raise $281,397. This will require a further shareholders meeting to refresh this facility for future funds if and when required. In addition, and as a result of the enthusiasm of a number of investors, the full 50,000,000 fully paid shares with 25,000,000 (one for two) free attaching options approved at the recent shareholders meeting were placed to professional investors under ASX Listing Rule 7.1 to raise $500,000. Further calls and communications were received, but the Company was unable to accommodate these applications until the 15% facility revised calculations come into effect after the current shares are issued.

TikForce has now received the Tranche 1 funding of $1.2M in cash via a convertible note issue from sophisticated and professional investors, in accordance with a mandate with Regency Corporate Pty Ltd as announced to ASX on 16 March 2018.

MetalsTech has cancelled its planned iCobalt ‘spinout’, and elected to retain 100% of its valuable high grade cobalt assets, including the opportunity to acquire the past-producing Rusty Lake Silver-Cobalt Mine. Last week, the Company completed a $1.8 million escrowed placement to diversified and battery-related chemicals manufacturer Wuxi Baichuan Chemical Industrial Co who currently hold a 9.44% stake in MTC. The Company has also completed an additional placement of approximately $1.5 million to Sophisticated and Institutional Investors at an issue price of $0.24 per ordinary share, via the issue of 6,250,000 fully paid ordinary shares.

MGC Pharmaceuticals has announced it has successfully raised over $5 million before costs, via a share placement to sophisticated and professional investors, and strategic. The oversubscribed Placement was led by Bell Potter and received strong support from new and existing shareholders, cornerstoned by the Merchant Opportunities Fund. The $5m Placement funds raised will be used by the Company to contribute to the construction of the fully licensed medical cannabis production and cultivation facility in Malta, in accordance with the contract awarded to MXC by the Maltese Government as detailed in today’s announcement, and general working capital. Following completion of the Placement, the Company will be in a very strong financial position, with approximately $12m cash at bank. Under the Placement, $5.0 million will be raised, via the issue of 71,428,571 fully paid ordinary shares at $0.07 per share. The shares under the Placement will be issued under the Company’s placement capacity in accordance with ASX Listing Rule 7.1A. The Company will pay a 5% fee on the Placement funds.

EHR Resources has announced that it has received applications for 21,111,111 fully paid ordinary shares in the Company at a price of $0.09 a Share to raise approximately $1.90 million through a placement to sophisticated and professional investors.

West African gold developer and explorer Tietto Minerals is pleased to advise it has issued 8,331,134 ordinary shares at 21 cents a share to raise $1.75 million pursuant to a two‐tranche subscription agreement with Hong Kong Ausino Investment Ltd (Hong Kong Ausino). This is a $1.05 million increase on the Tranche 1 amount previously announced by Tietto on 7 March 2018.

Nkwe Platinum advises that it has appointed financial, legal advisors and independent experts in relation to Zijin Mining Group Co.’s indicative and non-binding proposal to acquire the remainder of the issued shares in the Company it does not already hold, as announced on 19 March 2018. Argonaut has been appointed as financial advisor, HWL Ebsworth appointed as Australian legal advisor and Conyers Dill & Pearman appointed as Bermudian legal advisor. RSM Corporate Australia and CSA Global have been appointed as independent experts to prepare a report as to whether any formal offer which may result from the Proposal is fair and reasonable. The advisors are assisting the Company’s independent non-executive directors Richard O’Shannassy and Neville Bergin appropriately assess and respond to the Proposal and any formal offer which may be made by Zijin.

Metalstech has completed the acquisition of the Rusty Lake high grade cobalt-silver mine in Canada.

CFOAM has received strategic commitments to raise $2.125mn through the placement of 12,142,857 shares at $0.175 per share to existing institutional and sophisticated investors.

Medibio, a mental health technology company, announces the completion of the acquisition of Vital Conversations. As previously outlined the acquisition price of $500,000 was funded by cash and shares

Oklo Resources has announced that it has received firm commitments from sophisticated and institutional investors qualifying under s708 of the Corporations Act 2001 to subscribe for a placement of 39,473,684 fully paid ordinary shares at an issue price of $0.38 per share to raise gross proceeds of $15 million.

Latitude Consolidated is pleased to advise that it has entered into a binding agreement to acquire a majority interest in the Mbeta Lithium Project from Zimbabwean national Robert David Hutchings. The Project was introduced to Latitude by Klaus Eckhof and Mark Gasson who will receive part of the share consideration as set out below under Transaction Summary. Both Klaus and Mark are also assisting the Company to identify further project acquisition opportunities in southern and eastern Africa. As part of the transaction, Latitude will complete a two-tranche share placement of which $491,000 is upfront under the 15% capacity and $2.95 million is subject to shareholder approval raising a total of $3.45 million to sophisticated investors. DJ Carmichael Pty Limited is acting as lead manager for the placement.

The key commercial terms of the Agreement are as follows:

(a) payment to the Owner of the cash sum of $US50,000 on signing of the Agreement as a non-refundable deposit;

(b) payment to the Owner of the cash sum of $US50,000 on registration of the transfer of the Mbeta Claims into the JVCO (refer below);

(c) issue to the Owner and/or its nominees (including Mark Gasson and Klaus Eckhof who introduced the project to LCD) a total of 6 million fully paid ordinary shares in the capital of LCD within 7 days following the receipt of the approval from the shareholders of LCD; and

(d) LCD will finance all exploration by the JVCO up to the completion of a Definitive Feasibility Study

Crusader Resources has received binding commitments from institutional and other investors by way of a placing to raise gross proceeds of approximately $6.5m (US$5.0m) from both the London and Australian markets. The Placing involves the issue of 118,147,449 new ordinary sharesat $0.055 (2.99 pence) per Ordinary Share and 59,605,381 warrants, issued on a 1 Warrant for every 2 Ordinary Shares basis, comprised of the following:  110,574,968 Ordinary Shares to be issued to institutional and other investors pursuant to the shareholder authority granted at the Company’s general meeting held on 2 February 2018;  55,819,141 Warrants, to be issued to the Unrelated Parties subject to the receipt of shareholder approval of the necessary resolutions to be proposed at the Company’s forthcoming annual general meeting to be held in May 2018; and  an aggregate of 7,572,481 Ordinary Shares and 3,786,240 Warrants to Eyeon Investments Pty Ltd (a company controlled by Stephen Copulos, the Company’s Non‐Executive Chairman), Marcus Engelbrecht (Managing Director) and Andrew Vickerman (proposed Non‐Executive Chairman) subject to the receipt of shareholder approval of the necessary resolutions to be proposed at the AGM.

Australian Vanadium has announced that it has reached agreement with two institutional investors for the placement of 75,000,000 ordinary fully paid shares, at an issue price of $0.04 each, to raise $3,000,000 before costs.

Golden Rim Resources refers to its previous announcement made on 20 November 2017 regarding the drilling for equity arrangement it had entered into with Ausdrill whereby Ausdrill may subscribe for up to US$1,000,000 worth of ordinary fully paid shares in the capital of the Company in return for drilling services.

Golden Rim advises that it has elected to pay an invoice received from Ausdrill’s subsidiary entirely by Shares. Therefore, the Company expects to shortly issue 11, 656,143 Shares at an issue price of $0.035, representing 90% of the volume weighted average price of the Shares traded in the 5 trading days preceding the date of the invoice. The Shares will be issued under Listing Rule 7.3 and in accordance with shareholder approval obtained at the Company’s recent general meeting of shareholders held 5 April 2018.

Finbar Group has announced that it has successfully completed a capital raising of $31 million by way of a placement to professional and sophisticated investors, and is inviting existing shareholders to participate in a Share Purchase Plan to raise up to an additional $5 million. The Company has successfully received binding commitments in relation to the placement of 33,333,334 new shares to professional and sophisticated investors at $0.93 per share to raise $31 million before costs. The oversubscribed Placement was not underwritten and has been strongly supported by both existing and new investors. The Placement was conducted within the discretionary capacity of the Board in accordance with ASX Listing Rule 7.1 and will be settled in one tranche, with settlement expected to occur on Friday 20 April 2018. The Company is also pleased to provide an opportunity to its existing shareholders to participate in the equity raising by undertaking a SPP at $0.93 per share, being the same issue price as the Placement, up to a maximum of $5 million in total. The SPP will provide eligible shareholders with the opportunity to subscribe for up to $15,000 of ordinary shares without incurring brokerage commission or other transaction costs.

Genesis Minerals is pleased to advise that it has successfully received binding commitments to raise $5 million. The Placement comprised the issue of up to 156.25 million fully paid ordinary shares at an issue price of $0.032 to institutional and sophisticated investors, raising $5.0 million.

iCollege confirms that it has today issued 50 new Convertible Notes with a face value totalling $500,000 to a sophisticated investor. Funds raised from the issue of the Convertible Notes have been utilised to redeem in full, an existing Convertible Note with a face value of $500,000 that was first issued by the Company on 21 December 2016, having had an initial maturity term of 12 months, it has since been rolled over where maturity was at the discretion of the Note holder.

Alchemy Resources has announced it has executed the recently announced option agreement with Heron Resources to include licences EL8631 (Nyngan) and ELA5600 (Woodsreef) into the existing Alchemy / Heron NSW Farm-In and Joint Venture Agreement, enabling Alchemy to earn an 80% interest in all eight NSW licences (including the new Ni-Co licences) by spending $1.5M over the remaining 3 year period

Alloy Resources has announced that firm placement commitments have been received from professional and sophisticated investors to raise approximately $1,150,000 before costs. The placement of 143.75 million ordinary fully paid shares at $0.008 will be completed pursuant to the Company’s 15% placement capacity under ASX Listing Rule 7.1 (17,050,664 shares) and the additional 10% placement capacity under Listing Rule 7.1A (126,699,336 shares).

Mintails Limited (ACN 008 740 672) (‘the Company’) is pleased to announce that the offer of
233,333,333 new shares at an issue price of $0.03 per share under the Prospectus issued on 16 February
(‘the Offer’) has now closed.
The Company is also pleased to announce that the Offer was heavily oversubscribed.