Corporate finance deals Jan 20 to 26 2020

Dragontail Systems has announced a non-binding term sheet to raise $20 million by the issue of convertible preference shares at 14.06 cents a preference share.

Peninsula Energy has closed its entitlement offer, raising only $940,323 of the intended $2.1 million. Shareholders applied for approximately 5.7 million shares at 16.5 cents a share, leaving a shortfall of 7 million shares under the offer.

Accelerate Resources has placed 4.9 million shares at 2.455 cents a share, raising $120,418.

Mount Ridley has announced it will acquire Perth-based Longland Resources, which is developing the Ryberg nickel-copper-palladium-gold project in Greenland. Mount Ridley will issue 1.76 billion shares to the vendors as consideration, at a deemed price of 0.3 cents a share ($5.3 million total). Longland director Thomas Abraham-Jones will join the Mount Ridley board as managing director.

Global Oil & Gas has terminated the sale of its Southern Georgina project to Westmarket Oil & Gas.

Eagle Mountain Mining has raised $1.8 million through a placement at 15 cents a share.

Nuheara has announced that it will divest its Mt Ida South and Quinns gold project 1.5 per cent net smelter royalties to SilverStream for $US200,000, half in SilverStream shares and half in cash.

eMetals (formerly Corizon) has completed a recompliance public offering, raising $4,354,000 at 2 cents a share. The capital raising