12/02/2018 - 14:53

Corporate finance deals Feb 5 to 9 2018

12/02/2018 - 14:53


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Okapi Resources Limited (ASX:“OKR”) (“Okapi” & “Company”) is pleased to announce that, further to its announcement of 24 January 2018, it has completed the issue of 2,142,857 fully paid ordinary shares at an issue price of $0.70 per share raising A$1.5 Million before costs.



Ookami Limited (ASX: OOK) (OOK or the Company) is pleased to announce that, following shareholder approval at the general meeting of shareholders on 30 January 2018, it has completed its acquisition of an 18.23% strategic equity position in award-winning blockchain company Brontech Pty Ltd (Brontech) for A$933,240.



Kogi Iron Limited (ASX: KFE, “Kogi”, “the Company”) is pleased to announce that further to the announcement made on Friday 2 February 2018 the company has accepted firm placement commitments from professional and sophisticated investors to raise an additional A$90,000 to bring the total placement raising to A$ 2,000,000 before costs.



Gold Road Resources Limited (Gold Road or the Company) confirms that a wholly‐owned subsidiary, Gold Road (South Yamarna) Pty Ltd (GRSY), has signed a Sale Agreement to acquire Sumitomo Metal Mining Oceania Pty Ltd’s (Sumitomo) 50% interest in the South Yamarna Project for A$7 million in cash and certain rights of first refusal and first negotiation.



Artemis Resources Limited (“Artemis”) (ASX: ARV) advises that it has received a firm “bought deal” commitment from German based company Deutsche Balaton AG to raise an additional $2.5m (before costs) on the same terms as the $6.5m capital raise announced on 31 January 2018.

This additional capital raise will be through the issue of 12.5 million fully paid ordinary shares (“Shares”) at $0.20 per Share (together with 3.125 million free-attaching options exercisable at $0.25 each, and expiring 12 months from the date of issue).



Ardiden Limited (ASX: ADV) is pleased to advise that it has completed a A$2.25 million share placement to sophisticated and institutional investors in Australia and internationally (the “Placement”) to fund ongoing resource drilling and exploration programs at its flagship Seymour Lake Lithium Project and due diligence exploration drilling program at the Pickle Lake Gold Project, both located in Ontario Canada.

The Placement, comprising of 125 million shares at an issue price of A$0.018 per share, was strongly supported with significant oversubscriptions received. Ardiden was very pleased with the high level of investor demand for the Placement. The Placement will be issued under the Company’s existing LR7.1 15% capacity.



Botanix Pharmaceuticals Limited (ASX: BOT, “Botanix” or the “Company”) is pleased to announce that it has successfully completed a A$15m (before costs) oversubscribed placement (“Placement”) to institutional and sophisticated investors across Australia and Asia, including existing shareholders.

The Placement resulted in the issue of 135,777,823 shares, at an offer price of A$0.110 per share. The offer price represents a 16.2% discount to the 15-day VWAP of A$0.131 and a 7.9% discount to the 30-day VWAP of A$0.119.



Arrow Minerals Limited (formerly Segue Resources Limited) (Arrow or the Company) is pleased to announce that it has entered into an agreement with ASX-listed nickel and gold producer, Independence Group NL (ASX: IGO) (IGO) covering the Plumridge Nickel Project (Project) together with a cornerstone equity investment in Arrow (Agreement) for a total of $2.5 million. Arrow has also received commitments from institutional and professional investors to raise $2.65 million through a heavily oversubscribed two-tranche equity placement.

IGO to acquire a 51% interest in the Project for $1.5 million; IGO and Arrow will enter into a joint venture over the Project, with IGO managing all exploration activities; IGO can increase its interest in the Project to 90% through the expenditure of $5 million over four years; IGO can accelerate earning its 90% Project interest by paying Arrow cash equal to the amount remaining for the joint venture earn-in; IGO has subscribed for a $1 million placement in Arrow at a price of 2.9¢ per share with one attaching listed option (AMDOA) for every two placement share



Southern Hemisphere Mining Limited (“SUH” of “the Company”) (ASX:SUH) is pleased to announce that it has signed (through its wholly owned subsidiary, Minera Llahuin SCM (“Llahuin”)) an option agreement (“Option Agreement”) with Hudbay Minerals Inc. (“Hudbay”) (TSX, NYSE: HBM) through its wholly owned subsidiary, HudBay Chile SpA (“Hudbay Chile”), to acquire up to 70% of the Llahuin Porphyry Copper/Gold Project in Chile.

The Option Agreement provides a path for Hudbay Chile to earn a 70% interest in the Llahuin Project by making a series of cash payments to SUH (via SUH’s 100% owned Llahuin) totalling US$5.8 million over 5 years (of which US$50,000 was paid by Hudbay Chile to Llahuin on execution of the Option Agreement), and committing to spend a minimum of US$3.5 million on exploration work over the first 3 years.



TikForce Limited (ACN 106 240 475) (Company) is pleased to advise that the Company’s one (1) for three (3) pro-rata non-renounceable entitlement offer of fully paid ordinary shares, along with free attaching options on the basis of one (1) option for every two (2) New Shares (Entitlement Offer), closed at 5.00 pm (WST) on 6 February 2018. The offer closed with $73,292.70 in acceptances received, leaving a $777,754.30 shortfall.


Torian Resources Ltd (Torian or Company) (ASX:TNR) is pleased to announce that it has secured two cornerstone investors to raise $1.1 million to fund the Company’s continued aggressive exploration programs. A total of 11,000,000 fully paid shares were issued and allotted at $0.10 per share together with a free attaching option exercisable at $0.10 and expiring in five (5) years from issue, subject to Shareholder approval. The issue price represents a premium of 35% to Feb 7’s closing price of $0.074.



Quest Minerals Limited (to be re-named High Grade Metals Limited) (ASX: QNL, or the Company) is pleased to announce that it has raised the full subscription amount of $4,500,000 under its prospectus dated 30 January 2018, and has closed the offer.



Latin Resources Limited (ASX: LRS) (“Latin” or “the Company”) is pleased to announce it has finalised the sale of its Peruvian copper assets to Westminster Resources Limited (“TSX-V: WMR” or “Westminster”) a publicly listed company on the Toronto Venture Exchange. The sale and transfer will entitle Westminster to 100% ownership of a total of 44 concessions, including the Ilo Norte and Ilo Este projects, spread over 36,000 hectares ("Projects") held by Latin’s 100% owned subsidiary, Peruvian Latin Resources SAC. Westminster have completed its due diligence and the formal Property Purchase Agreement ("Agreement") has now been executed by both parties with Latin to receive the first instalment of USD$150,000 (AUD$195,000) within 7 days.


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