Corporate finance deals Feb 11 to 15 2019
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Nzuri Copper is pleased to announce that it has entered into a term sheet with its major shareholder, Tembo Capital Mining Fund LP, which sets out the commercial terms on which Tembo proposes to provide a loan facility of $3 million to Nzuri.
MyFiziq is pleased to announce it has executed a binding subscription agreement in relation to the previously announced $6,000,000 placement with Asia Cornerstone Asset Management. The capital raising will see the Company funded to execute on its growth and strategic rollout plans. As announced on 31 January 2019, under the terms of the Binding Term Sheet and now the Subscription Agreement, MYQ will receive the $6,000,000 in 5 tranches with an initial tranche of $1,200,000 to be received on 25 February 2019 and subsequent tranches in May, August, and July concluding in September 2019. Over the 5 tranches, the Company will issue a total of 10m fully paid shares in MYQ at $0.60 cents per share.
Sipa Resources is pleased to advise that it has reached agreement to undertake a share placement to its major shareholder, Rodiv (NSW) Pty Limited, a company controlled by Mr Ervin Vidor, which will see Mr Vidor’s controlled shareholding in the Company increase to 10%. The placement, comprising 52,400,000 shares at an issue price of $0.0086, will raise $450,640 with the proceeds to be used to support Sipa’s aggressive copper exploration campaign in the Paterson Province of WA Pilbara and for project generation purposes. The issue price represents an 11% premium to the 20-day volume weighted average price of Sipa shares. The placement shares will be issued in accordance with the Company’s capacity under ASX Listing Rule 7.1A and will rank equally with existing Sipa ordinary shares quoted on the ASX.
Axxis Technology Group is pleased to announce it has signed a binding term sheet for the acquisition of 100% of the issued capital of hemp product company ECS Botanics Pty Ltd from the current shareholders of ECS. On completion of the Acquisition, AYG proposes to change its name to reflect the ECS Botanics brand. AYG will conduct a Non-Renounceable Rights Issue capital raising to raise up to $276,890 to cover interim working capital and costs of the Acquisition and Recompliance with Chapters 1 & 2 of the ASX Listing Rules Under the Binding Term Sheet, AYG is proposing to: • conduct the Rights Issue to cover AYG’s interim working capital and costs of the Acquisition and Recompliance; • issue 287.5million ordinary shares in AYG to the Vendors of ECS. The Consideration Shares will be subject to escrow restrictions as imposed by ASX; 5 • issue 131.25 million Performance Rights to the Vendors of ECS, which will convert into ordinary shares in AYG on a 1:1 basis conduct a public offer of shares under a Prospectus to raise a minimum of $4.5 million, up to a maximum of $6.5 million, via the issue of 112.5million, up to a maximum of 162.5m fully paid ordinary AYG shares at an issue price of $0.04;
DroneShield is pleased to announce it has received commitments from institutional, professional and sophisticated investors to raise $1,299,696 via a placement of 11,301,700 ordinary fully paid shares at an issue price of $0.115 per share. The new shares will be issued utilising the Company’s existing placement capacity pursuant to ASX Listing Rule 7.1A. The issue price under the Placement represents a 21% discount to the Company’s last traded price and a 22% discount to the Company’s 15 day volume weighted average market price prior to the date of this announcement. Patersons Securities acted as Lead Manager to the Placement and received strong demand from new and existing institutional, professional and sophisticated investors.
Kin Mining N.L. advises that further to its ASX Announcement of 19 November 2018 that the remaining 13,251,470 shares available to be issued from the shortfall prior to 14 February 2019 were not issued. Pursuant to the Entitlement Offer announced on 9 October 2018 the Company has issued 116,640,760 new shares raising $9,331,261 before costs
Leading communications, content and advertising solutions provider Swift Media is pleased to announce that its acquisition of Medical Media, announced on 21 December 2018, has been completed, effective 15 February 2019. The completion follows shareholder approval of the acquisition at a General Meeting held in Perth earlier this week. Medical Media is a leading Australian digital out-of-home media network which operates more than 2,300 digital screens, delivering content to more than 5 million viewers every month. The acquisition allows Swift to leverage its own world-class content and engaging technology with Medical Media’s advertising capability and network of screens to deliver cost synergies of ~$3 million per year and deploy Medical Media’s advertisers across Swift’s Network of 75,000 screens. Swift purchased all outstanding shares in Medical Media for an upfront consideration of $4.5 million through the issue of 14.950 million Swift shares at $0.3010 per share, via a Share Purchase Agreement on a cash-free, debt-free basis. This was a 20% premium to the 30 trading day VWAP of Swift shares up to and including the trading day prior to execution of the SPA. An additional $20.5 million in Performance Shares were issued at the Issue Price, with conversion subject to the satisfaction of the performance milestones and other key terms outlined in the acquisition announcement on 21 December 2018.
African Gold was admitted to the Official List of ASX today, Wednesday, 13 February 2019. Official quotation of A1G’s ordinary fully paid shares will commence at 1:00 PM AEDT on Thursday, 14 February 2019. A1G raised $4,500,000 pursuant to the offer under its prospectus dated 6 December 2018 by the issue of 22,500,000 shares at an issue price of $0.20 per share.