Cougar Metals provides an update on the funding agreement with the Australian Special Opportunity Fund, LP, an entity managed by New York based, The Lind Partners, LLC (Together, Lind). As previously announced, pursuant to the funding agreement Cougar has to date issued two tranches of convertible notes to Lind, with a combined face value of $960,000. In order to minimise potential dilution to shareholders, the Company has negotiated to defer the conversion of the convertible notes held by Lind while the Company’s share price is relatively low as a result of overall poor market sentiment. Lind and Cougar have agreed to defer any convertible note conversion until 31 March 2019 in return for the issue of 25,000,000 fully paid ordinary shares in Cougar at a deemed issue price of $0.002 per share.
The Directors of Dampier Gold Limited are very pleased to advise that the Company has acquired two exploration projects located ~100km north of the Kalgoorlie gold mining district in Western Australia. The acquisition comprises two exploration licence applications. Menzies, which lies adjacent to the Menzies gold camp and which has exploration potential for both hard rock and placer gold and Goongarrie, which lies southwest of Menzies and overlies an alluvial covered greenstone belt with exploration potential for hard rock gold and base metals. In accordance with the terms and conditions of a binding Terms Sheet with Magnum Mining & Exploration Limited (ASX code: MGU) and Discovery Capital Limited (the Vendors), Dampier has acquired an 80% interest in each of exploration licence application 29/1052 (Menzies) and exploration licence application 29/1051 (Goongarie). Both applications are ready for approval. The consideration paid by Dampier is the issue of 10,000,000 fully paid ordinary shares and a cash payment of $20,000. Following expenditure by Dampier of $300,000 on each of the tenements, the Vendors can elect to contribute their 20% pro-rata share on all future expenditure on either of the Menzies or Goongarie projects or receive a 2% Gross Royalty on either the Menzies or Goongarrie projects.
Hazer Group is pleased to advise that it has raised a total of $2.45m from the exercise of its listed options and unlisted Series C options which expired on 31 December 2018. The Company received final acceptances to exercise 3,448,850 listed options with an exercise price of $0.30 each raising $1,034,655. $236,500 was also raised from the exercise of 788,333 listed options in the weeks prior to the final exercise process. In addition, a total of $1,180,357 has been raised from the exercise of 4,721,428 unlisted Series C options in a number of transactions since late September 2018. These options had an exercise price of $0.25 each and were held by current and former Directors and management.
Korab Resources has announced the placement of 2 million shares to an un-related exempt investor for the price of 2.5 cents a share.
Dotz Nano an advanced technology company developing, manufacturing and commercialising tagging, tracing and verification solutions, has successfully secured funding of $1million before costs via the issue of converting loans to sophisticated and professional investors. Loans to convert to equity upon shareholder approval at $0.08 per share plus 1:4 unlisted options exercisable at $0.12 per share
WA-focused gold exploration and development company Classic Minerals is pleased to announce that it has exercised the Option and acquired a 100% interest in the Kat Gap Gold Project covering exploration licences E74/422 and E74/467; subsequent to meeting all the conditions precedent. Classic has purchased the Kat Gap project from private company Sulphide Resources Pty Ltd for a total consideration of $250,000 plus GST, and a 2% NSR royalty on production from E74/422 and E74/467.
Tikforce is pleased to provide a further update with reference to the announcement on 30th November 2018, to confirm that the final consideration payment of $150,000 has been received in accordance with the commercial agreement for the sale of the Tikforce business to Gambier Holdings.
