05/02/2018 - 10:22

Corporate finance deals Jan 29 to Feb 2 2018

05/02/2018 - 10:22


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Ardiden Limited (ASX: ADV) is pleased to announce that it has completed the successful acquisition of 100% of the early stage Bold Property Colbalt-Copper Project in Ontario, Canada with a final payment of 100,000 Ardiden shares made to the vendor, Benton Resources Inc.



Cassini Resources Limited (ASX:CZI) (“Cassini” or the “Company”) is pleased to announce it has secured an option to acquire the Yarawindah Brook Ni-Cu-Co Project (“the Project”) in Western Australia. With the West Musgrave Joint Venture with OZ Minerals Ltd proceeding to Stage 2 of the earn-in, the Company will recommence activities at its 100% owned exploration projects, including opportunities to add to the project portfolio.

Cassini has taken an option to earn an 80% equity interest in the Yarawindah Project through payment of an Option Fee of $50,000 (including reimbursement of costs) and committing to spend a minimum of $250,000 on the Project prior to 30 March 2019. If Cassini decide to progress and acquire 80% of the shares in Souwest, a further payment of $300,000 in cash or Cassini shares (at Cassini’s election) will be made. Souwest will be free-carried until a decision to mine is made.



BPH Energy Ltd is pleased to confirm that its Non-Renounceable Rights Issue announced on 12 November 2017 has closed. Applications were received for 440,055,960 shares totaling $880,111 including applications for shortfall shares



Australian Gold and Cobalt explorer Alloy Resources Limited (ASX:AYR) (Alloy or the Company) is pleased to announce that it has reached agreement with it’s Joint Venture Partner, Doray Minerals Limited (“Doray”), for Alloy to regain a majority interest and assume management control of exploration at the highly prospective Horse Well. Gold Project Joint Venture (“Horse Well”).

Alloy has acquired an 11% HWJV interest, taking it to a 51% HWJV interest by payment of;

• $300,000 cash, and the issue of;

• $200,000 in AYR shares priced at 0.6 cents based on a 10 day VWAP on the effective date.

Alloy will sole fund $1.4 million expenditure to go to a 60% JV interest

Doray retains a ‘Claw-back’ right if a 1.5 million ounce Mineral Resource is defined. If excercised:

• Doray must repay Alloy 3 x Exploration Expenditure to get 51%.

• Alloy 49% free-carried to completion of a BFS.



Longford Resources has issued 15,368,458 shares to holders of unlisted options at $0.05 a share for a total consideration of $768,423.



Metalicity Limited (ASX:MCT) (“MCT” or “Company”) is pleased to announce that it has completed the acquisition of the high grade Napier Range Zinc Project, located in the Lennard Shelf of the Kimberley Region, WA.



Artemis Resources Limited (“Artemis”) (ASX: ARV) advises that it has received firm “bought deal” commitments from a London Institution, Global Investment Strategy UK Ltd, to raise $6.5 million (before costs) through the issue of approximately 32.5 million fully paid ordinary shares (“Shares”) at $0.20 per Share (together with 8.125 million free-attaching options exercisable at $0.25 each, and expiring 12 months from the date of issue).



EVE Investments Ltd (ASX:EVE), an ASX-listed technology investment company, is pleased to announce it has received strong support for a capital raising, with firm bids received to complete a $3.5m capital raising, after scaleback of applications received. Red Leaf Securities has acted as lead manager for the placement, which will be conducted at 1.3 cents and shares will be issued within the Company’s 15% capacity under ASX Listing Rule 7.1. Funds raised will be used to support the company’s existing investment portfolio, support activities to seek new investments, as well as working capital.



Global Energy Ventures Ltd (ASX: GEV), a developer of global integrated compressed natural gas (CNG), is pleased to announce the completion of an equity placement (“Placement”) of 16.875 million new fully paid ordinary shares at $0.40 per share, raising $6.75 million before costs.



On 11 December 2017 Fleetwood Corporation Limited announced that it had entered into an agreement to sell Flexiglass Challenge Pty Ltd to Aeroklas Australia Pty Ltd. Fleetwood advises that completion of that sale has now occurred.



On 1 February 2018, AIM-listed Stellar Diamonds plc (Stellar, AIM:STEL) announced that it had received a possible offer from the Board of Newfield Resources Limited (Newfield, ASX:NWF) to acquire the issued and to be issued share capital of Stellar in an all-scrip transaction.

In order to enable Stellar to become the operator of the combined Tongo-Tonguma mine, Newfield has agreed to provide a loan of US$3 million (Loan) to Stellar.

Under the Possible Offer, if implemented, a total of 95,500,000 Newfield shares (“Consideration Shares”) will be issued to Stellar shareholders in consideration for the issued and to be issued share capital of Stellar and which would represent a 16.4% of the enlarged share capital of Newfield once it has completed its placings and rights offer.

In conjunction with the progression of the Possible Offer, Newfield has received binding commitments for a placement raising A$7 million (before costs) by the issuance of 35 million shares at A$0.20 per share. This placement is due to be settled in the coming days, with the shares to be issued pursuant to Newfield's 15% placement capacity under ASX Listing Rule 7.1.

Newfield is also proposing to undertake a further placement to raise an additional A$3 million, by the issuance of 15 million shares at A$0.20 per share. Newfield will circulate a notice of meeting to shareholders seeking the necessary shareholder approvals for this placement (as well as the Possible Offer) in due course.



Sustainable agribusiness Mareterram Limited (Mareterram)(ASX:MTM) is pleased to announce the completion of the acquisition of two mackerel packages as announced on 3 November 2017, with fishing licences and vessels successfully transferred to Mareterram.



Further to its announcement dated 4 January 2018, Valmec Limited (ASX: VMX) is pleased to advise that it has now completed the acquisition of the Business and Assets of specialist pipeline testing company, APTS Pty Ltd. (APTS).

Total cash consideration payable by Valmec on completion was approximately $2.65 million.



Stavely Minerals Limited (ASX Code: SVY) is pleased to announce a capital raising of up to $8.3 million to fast-track exploration of its portfolio of gold and porphyry copper-gold projects in western Victoria and Queensland.

The capital raising is underpinned by a Share Placement of 20 million shares at 34 cents per share to sophisticated and institutional investors to raise $6.8 million before costs. The placement was at a 1.4% discount to the 15-day Volume Weighted Average Price (VWAP). The Placement was substantially oversubscribed.

In addition, Stavely will also undertake a Share Purchase Plan (SPP), also at 34 cents, to raise up to a further $1.5 million to allow existing shareholders to participate in the capital raising on the same terms as the Share Placement.



Samson Oil and Gas Limited (SSN, ASX and SSNYY, OTCQB) advises that its previously announced letter of intent to sell its Foreman Butte Project, comprising substantially all of its assets, for US$41.5 million has been terminated by the buyer.



Prospect Resources has secured an option to acquire a 100% direct interest in the Tombolo Klippe project in the Democratic Republic of Congo. The option covers an area of 21km2 containing numerous cobalt and copper occurrences



Mustera Property Group Ltd (ASX:MPX) (Mustera or the Company) today announced the launch of the Mustera Property Fund (MPF or the Fund) after securing commitment from several private Investors, for the acquisition of a neighbourhood shopping centre in Western Australia for AUD$16.5 million.



Kogi Iron Limited (ASX: KFE, “Kogi”, “the Company”) is pleased to announce that firm placement commitments have been received from professional and sophisticated investors to raise A$1,910,000 before costs.

The placement of 19.10 million ordinary fully paid shares at 10 cents will be completed pursuant to the Company’s 15% placement capacity under ASX Listing Rule 7.1.



JV Global Limited (ASX: JVG) (Company) advises that the non-renounceable rights issue to eligible shareholders announced to the ASX on Thursday 15 December 2017 has closed and the subsequent shortfall has been placed.

331,374,834 Ordinary Shares in the capital of the Company (“Ordinary Shares”) were accepted by shareholders (the “Rights Issue Shares”) out of a total 626,611,000 Ordinary Shares on offer. The Rights Issue Shares were issued at $0.001 each. The remaining 295,236,166 Ordinary Shares (the “Shortfall Shares”) have gone into a shortfall and have been allotted.

Allotment of the Rights Issue Shares is expected to occur on 6th February 2018. An Appendix 3B will be issued on completion of the allotment of each of the Rights Issue Shares and the Shortfall Shares. Once the Rights Issue Shares and the Shortfall Shares have been allotted the total raising will result in A$626,611 in cash for the company (before costs).



Centaurus Metals (ASX Code: CTM) is pleased to announce that it has secured a 100% interest in the Itapitanga Nickel‐Cobalt Project, a highly prospective nickel‐cobalt exploration project in the Carajás Mineral Province of northern Brazil located immediately along strike from world‐class nickel‐cobalt deposits owned by global majors Anglo American and Vale. Centaurus has secured a 100% interest in the title of the Itapitanga tenement. Under the Agreement, Centaurus will pay the private Brazilian vendor up to R$150,000 (~A$60,000) over a period of six months and commit to undertake R$150,000 of exploration work on the ground over this same 6‐month period. At the end of the option period and on the basis that Centaurus wishes to continue with the project, it will pay the vendor R$500,000 (~A$200,000). If it decides not to continue with the project it will transfer title back to the vendor with any exploration data collected over the 6‐month period. Further, assuming Centaurus elects to continue with the project, it will make milestone payments to the vendor of R$1 million (~A$400,000) on definition of a JORC Resource and R$1.5 million (A~$600,000) on the grant of a Mining Lease by the Brazilian Mines Department (DNPM). Concurrent with the acquisition of the Itapitanga Nickel‐Cobalt Project, the Company is pleased to advise that it has closed a heavily oversubscribed share placement to raise $2.65 million, before costs, which will provide funding for ongoing exploration of the Company’s highly prospective and growing copper, gold, nickel and cobalt tenement package in the Carajás Mineral Province. Under the placement, the Company will issue 295 million shares at $0.009 and 147.5 million unlisted options with an exercise price of $0.015 and an expiry date of 31 January 2020 to sophisticated and professional investors.


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