09/07/2018 - 13:25

Corporate finance deals July 2 to 6, 2018

09/07/2018 - 13:25


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Automotive Holdings Group today announced that HNA International (HNA) has confirmed that it is terminating the agreement announced on 23 November 2017 to acquire the Company’s Refrigerated Logistics business.


Dreamscape Networks is pleased to announce that, further to its announcement on 19 June 2018, it has completed the acquisition of the customers, systems, and brand assets of the business operating as Domain Name Registrar.


Pearl Global is pleased to announce that Capricorn Society has committed to increase its strategic investment in Pearl by a further $1.75 million by way of the issue to Capricorn of 7,608,696 million new fully paid Ordinary Shares in PG1 at a price of $0.23 per share. Upon issue of these shares, Capricorn’s shareholding in Pearl will increase to approximately 6.1%.


Rift Valley Resources is pleased to announce that it has received firm commitments from sophisticated and institutional investors for the private placement of 366,666,667 fully paid ordinary shares at $0.015 to raise $5,500,000.


Syndicated Metals is pleased to advise that Carnaby Resources has exercised its option to purchase an 82.5% interest in the Company’s Southern Hub exploration tenements in North Queensland. The consideration for the sale is 4,000,000 fully paid ordinary shares in Carnaby at a deemed issue price of 25c per share. The shares are expected to be escrowed for a period of 12 months from the date the shares are issued to Syndicated.


Matador Mining is pleased to announce the completion of the transaction with Benton Resources Inc. to acquire the Cape Ray Gold Project in Newfoundland, Canada, as approved by shareholders at the Company’s general meeting held on 29 May 2018


Rox Resources is pleased to announce that it has exercised an option to purchase two tenements at its Fisher East nickel and Mt Fisher gold projects, located 500km north of Kalgoorlie in Western Australia. Under the terms of the Option the exercise price is $600,000 cash.


Sumatra Copper and Gold is pleased to announce it has received a cash advance of US$2m from PT Merdeka Copper and Gold Tbk. The funds will be used by the Company’s subsidiary PT Dwinad Nusa Sejahtera for working capital requirements and to service existing loans. Key provisions of the loan include an interest rate of 10% per annum with the repayment of the principal to occur on or before 30 June 2020. The facility is unsecured and the Company can voluntarily repay any of the principal outstanding before 30 June 2020. The Company will also make a placement of 86,384,276 CDIs to MDKA under the provisions of a Formal Exploration Project Agreement between MDKA and the Company as announced on 6 October 2017 for cash injected by MDKA to fund exploration activities at the Company’s Sumatera operations in the period between December 2017 and April 2018. The average issue price of the CDIs will be A$0.0177 being the average of the five day weighted average CDI price before each payment made by MDKA to the Company.


Technology Metals Australia is pleased to announce the acquisition of additional tenure adjacent to the Northern Block of tenements at its 100% owned Gabanintha Vanadium Project. As consideration for the acquisition of the Tenement, the Company has: A) Paid $40,000 plus GST, B) Issued 200,000 fully paid ordinary shares in the capital of TMT , C) Agreed to pay to the Seller a royalty of 2% of the Net Smelter Return on Commercial Production of gold (if any) from the Tenement, and D) Agreed to pay to the Seller a royalty of 1% of the Net Smelter Return on Commercial Production of vanadium pentoxide (or equivalent) (if any) from the Tenement.


Agrimin is pleased to announce that it has successfully completed a capital raising of $10 million (before costs) via a placement to institutional and sophisticated investors. The Placement was conducted at an issue price of $0.80 per share, resulting in the issue of 12.5 million shares.


As announced 21 December 2017, European Lithium confirmed that the sale of its Paynes Find Gold Project to Cervantes Gold Pty Ltd had settled. The total consideration in relation to the Transaction comprises $500,000 cash and $500,000 in share consideration. The parties have agreed to settle the remaining cash consideration payable of $80,000 through the issue of 7,000,000 shares in CVS at a deemed issue price of 1.14c each. The Company will also be issued one free attaching unquoted option for every two shares issued which are exercisable at 1.5 cents each on or before 30 June 2020.


Raven Energy is pleased to announce that it has executed a binding share sale and purchase agreement with Bombora Natural Energy Pty Ltd to acquire Bombora’s 40% shareholding in Gasfields LLC, a limited liability company incorporated in California, 60% of which is currently owned by the Company. Bombora is a wholly owned subsidiary of ASX listed Pancontinental Oil and Gas Limited.


Acacia Coal is pleased to announce that it has been notified by the Joint Lead Managers of the receipt of firm commitments for a private placement to raise a total of $400,000, subject to shareholder approval. As previously announced to the ASX on 18 June 2018, the Company plans to raise capital via a private placement and a rights issue to shareholders to raise a total of $2,443,201 to fund exploration on the Mt Windarra and Mt Bruce projects and for new project opportunities.


In April 2018, Family Zone engaged Tellus Matrix to support Family Zone’s global commercialisation. After extensive due diligence, Tellus Matrix has agreed to invest and to underwrite a placement of 10 million shares at A$0.50 per share to raise A$5 million with their global partners. They do so believing in the social benefits, commercial opportunities and investment potential of Family Zone and in their own ability to contribute to the company’s global ambitions. The placement shares will be issued under the Company’s ASX Listing Rule 7.1 placement capacity.


Tiger Resources Terminates Proposed Transaction with Sinomine HK. As previously announced, Tiger Resources had entered into a Share Purchase Agreement and Royalty Deed with Sinomine Fuhai (Hong Kong) Overseas Resource Investment Co., Ltd. for the sale of 100% of its shares in Tiger’s subsidiaries. The SPA termination date was 30 June 2018 but was extended by mutual agreement between the parties to allow final negotiations to complete. Terms acceptable to Tiger were not achieved and the Company subsequently issued a Notice of Termination of the SPA to Sinomine HK.


Toro Energy is pleased to announce the successful completion of its Share Purchase Plan, as announced to ASX on Thursday 31 May 2018 and which has now been closed. The Company would like to thank shareholders who participated in the SPP, which has raised in excess of $3.8 million by the issue of 153,222,417 fully paid ordinary shares in the capital of the Company.


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