Corporate finance deals Jan 28 to Feb 1 2019

Crusader Resources is pleased to announce the following updates in relation to the Company’s funding position. As previously announced on 23 January 2019, Crusader requires immediate funding for short term general working capital needs and in particular, there was a need to raise additional funding before the end of January for the Group to continue as a going concern. Crusader is pleased to announce that our major shareholder, Stephen Copulos, has entered into binding agreements to subscribe for an additional A$1 million worth of convertible notes, to assist with the Company’s immediate funding requirements.

MGC Pharmaceuticals is pleased to announce the sale of MGC Derma d.o.o to private Canadian cannabis investment company, Cannaglobal Canada Co Inc., has been formally completed.

Brookside Energy is pleased to announce the closure of its listed option placement. The Company has received applications from option holders for a number of options in excess of the 225,140,625 options being offered under the Option Placement.

Protean Energy is pleased to advise that it has successfully completed the sale of its shareholding in KOSDAQ listed DST Co Ltd and received proceeds of $1.45 million. The Company now has cash of $2.2 million including the combined cash held by its two 50/50 Korean JV Subsidiaries of $290,000.

Triton Minerals advises that its fully underwritten placement of TONOD Options, announced on 12 December 2018, closed on 25 January 2019 following strong support from eligible optionholders. The Company received applications for 87,677,547 TONOD Options (approximately $473,459), which represents a take-up of approximately 66% of the Offer. The TONOD Options are expected to be issued on or around 1 February 2019. The shortfall pursuant to the Offer is 45,995,618 TONOD Options and these will be issued in accordance with the underwriting agreement between the Company and Pinnacle Corporate Finance Pty Ltd. The issue of the shortfall TONOD Options is expected to occur on or around 1 February 2019.

Kogi Iron is pleased to announce that firm placement commitments have been received from professional and sophisticated investors to raise $0.56m before costs. The placement of 6.6 million ordinary fully paid shares at 8.5 cents will be completed pursuant to the Company’s 15% placement capacity under ASX Listing Rule 7.1.

Eden Innovations is pleased to announce that the Company has agreed to make a placement to institutional and sophisticated investors of up to approximately $1,500,000 and to undertake a Rights Issue to raise up to approximately $8,365,555 before costs. The Placement will raise up to approximately $1,500,000 through the issue of up to approximately 27,777,778 Placement Shares at an issue price of 5.4 cents ($0.054) per Placement Share, with one (1) free attaching Placement Option exercisable at 8 cents ($0.08) on or before two years after the issue, for every two (2) Placement Shares subscribed.

Australian heavy rare earths producer Northern Minerals is pleased to announce that it has entered into a subscription agreement with Liu Xiaohua, for the placement of 50,000,000 fully paid ordinary shares in the Company at an issue price of $0.06 per share to raise $3 million.

RMG is pleased to advise it has raised US$200,000 by the issue of 200,000 Convertible Notes. Key terms of the Notes are: • Face value of US$1 each; • An Interest rate of 10%pa; • The Convertible Notes are unsecured; • The redemption date is 30 July 2019; and • The conversion price is $0.005 per Share, converted into US$ per Share using the A$:US$ exchange rate published in the Australian Financial Review on the date that is two business days prior to the date that the relevant conversion notice is received by the Company. The maximum number of shares that can be issued in relation to the conversion is 54,800,000, which is based on total AUD received ($274,000) divided by the conversion price of A$0.005. The Company intends to use its Listing Rule 7.1 capacity for the issue of the convertible notes.

WhiteHawk, the first global online cyber security exchange enabling small-to-medium businesses to take smart action against cybercrime, is pleased to announce that it has agreed a share placement to an Institutional Investor, RiverFort Global Opportunities PPC Ltd to raise $1.2m before costs at 6.5c per share being a 2.99% discount to last closing price and representing approximately 18.5m shares.

Sovereign Metals is pleased to announce that it has successfully completed a bookbuild and secured commitments from investors in Australia and overseas to subscribe for 66,700,000 new ordinary shares of the Company, to raise gross proceeds of $4.3 million. The issue price for the Placements and SPP of $0.065 represents a 11% discount to the 30-day ASX VWAP and a 17% discount to the 5-day ASX VWAP.

Thred advises that in accordance with the announcement dated 25 September 2018 (Thred to Dispose of Main Undertaking) and receiving shareholder approval at the AGM dated 28 November 2018 that it has completed the sale of the Sweep Business to its former subsidiary, AR Technologies Pty Ltd, (now owned 80% by Project Savvy Pty Ltd with the Company retaining a 20% interest as previously disclosed).

Refresh Group is pleased to announce that it has bought back a 51% share of Refresh Waters Queensland Pty Ltd from Saisan Co today. Refresh’s wholly-owned subsidiary, Refresh Waters Pty Ltd, sold 51% of RWQ to Japanese company Saisan on 2 January 2014. Saisan owns Water One, which has 2 bottled water factories in Japan.

Tyranna Resources and subsidiary Trafford Resources Pty Ltd wishes to advise it has entered into an agreement with Alliance Resources and subsidiary Alliance Craton Explorer Pty Ltd for the sale of the following non-core assets:  Trafford’s remaining interest (approximately 18.59%) in the Wilcherry Project, and  An 80 person camp on leasehold land located in the township of Kimba, South Australia, for a total consideration of $1.5 million cash.