Corporate finance deals Oct 15 to 19 2018

Helix Resources is pleased to announce the completion of a placement to raise $0.9m via the issue of 30,000,000 at the last market close price of 3 cents. Peloton Capital was the lead manager with the funds raised from institutional and sophisticated investors. The issue will be undertaken using the Company’s capacity under ASX Listing Rule 7.

High Peak Royalties is pleased to advise that it has executed a share purchase and sale agreement with Planet Gas to acquire a portfolio of USA oil and gas royalties from PGS via the purchase of all shares of PGS subsidiary Planet Gas USA Inc.. The acquisition has been made for a nominal sum of $1.00 and includes US $2.75 million debt (AUD $3.87 million ) currently owed to Macquarie Bank.

Life science company eSense-Lab is pleased to announce that it has received confirmation of binding commitments for 105,000,000 Chess Depositary Interest (“CDIs”) at a share price of $0.03, for proceeds of $3.15 million before costs.

Marindi Metals is pleased to advise that it has further expanded its gold exploration portfolio in the southern Forrestania Greenstone Belt after WA after acquiring a highly prospective tenement (E77/2313) covering historical high-grade gold workings and unmined and untested gold drill intercepts. The newly-acquired project complements the extensive gold potential of its Forrestania Gold-Lithium Project. Marindi has acquired 100% ownership of the tenement from a private exploration company Bar None Exploration Pty Ltd for $20,000 and 3,000,000 ordinary shares.

Further to the announcement released by Sundance Resources to the ASX on 25 September 2018, in which Sundance announced it had reached an agreement with AustSino Resources Group and all of its Noteholders, Sundance is pleased to report that AustSino has paid $250,000 in immediately available funds to Sundance. Sundance will issue 62,500,000 fully paid ordinary shares to AustSino  at an issue price of $0.004 per share, as per the Agreement.

Kalamazoo has consolidated its tenement position at its Cork Tree Copper Project in WA’s highly prospective Doolgunna region by acquiring Atlas Iron’s 49% share of two joint venture tenements The Atlas holdings were exchanged for a gross smelter royalty of 2.5% which applies to all minerals other than iron ore, stone, gravel, clay and sand across Kalamazoo’s six tenements.

AssembleBay is pleased to announce that it has received applications and commitments for in excess of the maximum subscription of $3 million under its public offer of new shares, as set out in its prospectus dated 17 September 2018 and supplementary prospectus dated 1 October 2018, in connection with the proposed acquisition by the Company of ScandiVanadium Australia Pty Ltd and readmission to the ASX Official List.

Spectrum Metals is pleased to announce the acquisition (100%) of the Penny West Gold Project, near Youanmi in Western Australia. This acquisition follows the First Hit Gold Mine acquisition and cements SPX’s high-grade, brown fields gold strategy, focused in Western Australia. SPX acquires 100% of the Penny West Gold Project from vendors Patina Resources Pty Ltd and Plateaux Resources Pty Ltd. Spectrum and wholly owned subsidiary Zebra Minerals Pty Ltd have executed a Tenement Purchase Agreement to acquire a 100% interest of two (2) Mining Leases covering the Penny West Project (refer Figure 1). The terms of the acquisition are as follows: 1. A total consideration of $1.0m being – a) A non-refundable deposit of $50,000 in cash (paid) at date of the agreement, and b) 172,727,272 shares in Spectrum Metals Limited at a deemed issue price of $0.0055 per Share (146,818,182 shares will be escrowed for 12 months from the date of settlement). 2. A Due Diligence period of 21 days commencing immediately after the date of the agreement. During or at the conclusion of the Due diligence Period, the purchaser may give notice to the vendors that it does not intend to proceed with the acquisition of the assets. 3. Settlement of the Acquisition is subject to and conditional upon shareholders of Spectrum Metals Limited passing a resolution at a general meeting of shareholders to issue the Consideration Shares by the End date, being on or before the 30 November 2018. 4. From settlement the purchaser grants the vendors a 0.5% Net Smelter Royalty on all gold recovered from the tenements on the following terms: a) The Royalty is not payable on the first 7,500 ounces of gold recovered from the tenements by the purchaser; and b) The purchaser may extinguish the royalty at any time by making a cash payment of $750,000 to the vendors, at its sole discretion.  Spectrum Completes Acquisition of First Hit Gold Mine Spectrum Metals Limited (“SPX” or “the Company) has previously advised that it had agreed terms for the acquisition of the First Hit Gold Mine (ASX 4 October 2018) as the first step in a high-grade gold strategy, focused in Western Australia. Consideration for the acquisition was: 1. A$100,000 in cash at settlement of the agreement; and 2. A$100,000 worth of ordinary shares in Spectrum at a deemed issue price equal to the 5-day Volume Weighted Average Price (VWAP) of Shares trading on ASX over the 5 days immediately preceding the date of the Agreement (equating to 19,464,300 shares).

Thundelarra is pleased to announce that it has signed a binding Sale Agreement to acquire the Abbotts gold exploration project from Doray Minerals. Consideration: 11 million Thundelarra shares

Calidus Resources is pleased to announce a strategic placement of 125m shares at an issue price of 2.95c/share to Alkane Resources to raise proceeds of approximately $3.7m. Calidus today announces a placement of 125 million shares to Alkane at $0.0295 each to raise $3,687,500. The issue price of the Placement represents a 13.5% premium to the last closing price of $0.026 on 12 October 2018 and broadly in line with the 5-day VWAP. The Company will also issue 70 million free-attaching unquoted options to Alkane, exercisable at $0.035 each on or before 1 November 2019.

High Peak Royalties is pleased to advise that it has received commitments from sophisticated and professional investors to subscribe for up to 25 million new fully paid ordinary shares at an issue price of $0.05 per share to raise $1.25 million. Directors of High Peak have committed to subscribe for 2,900,000 shares at the same issue price of $0.05 for a total of $145,000 n conjunction with the Placement. The Directors Commitment Shares will be issued after receipt of shareholder approval at the upcoming 2018 Annual General Meeting as required by ASX Listing Rule 10.11.

Indus Energy is pleased to advise that it has entered into a non-binding term sheet to acquire 100% of the issued capital of New Era Oil and Gas Pty Ltd as it proceeds to re-capitalise the Company. New Era is a South Australian based private oil and gas company focussed on opportunities in the Cooper and Eromanga basins in South Australia and Queensland, and has recently executed a term sheet to farm into 50% positions in two onshore oil and gas exploration blocks in the Cooper Basin, South Australia.

Peninsula Mines closed its Share Purchase Plan on Friday 12th October 2018, having raised an additional $270,300 through the issue and allotment today of 45,049,998 fully paid ordinary shares in the Company and taking the total Placement and SPP to $886,420 including Directors subscriptions of $65,000 that are subject to shareholder approval at the Company’s AGM, 9 November 2018.

Mount Ridley Mines is pleased to announce it has completed a capital raising via a placement of 228,214,986 fully paid ordinary shares at an issue price of $0.001 per Share to raise a total of $228,214. The Placement was made to sophisticated and institutional investors. The Company has also agreed, subject to shareholder approval, to issue to those investors who participated in the Placement unlisted options on a 1 for 1 basis, exercisable at $0.003 per Option on or before 30 November 2022.

As previously advised, Samson Oil and Gas USA, a wholly-owned subsidiary of Samson Oil and Gas, entered into a Purchase and Sale Agreement with Eagle Energy Partners for the sale of substantially all of Samson’s Foreman Butte Project, located in the Williston Basin in North Dakota and Montana, for cash consideration of US$40 million, effective January 1, 2018 (subject to normal closing adjustments). Pursuant to the PSA, as amended, the transaction was scheduled to close on October 15th but failed to do so. As a result, the PSA has now expired.

The directors are pleased to advise that they placed 6,666,667 fully paid ordinary shares of Conico and 6,666,667 CNJO options, each to acquire 1 Share at an exercise price of $0.048 per Share at any time up to and including 30 June 2021 from the shortfall of the recent non-renounceable pro-rata rights offer, raising a further $200,000 (before costs). This placement was at an issue price of $0.03 per share (the same price that was offered to all shareholders under the recent Offer), with one free attaching Option per share to an investor to whom disclosure is not required in accordance with section 708 of the Corporations Act 2001. A 5% placement fee is payable on the funds raised. This placement brings the total raised from the rights issue and subsequent placement of the shortfall to $847,946.

 The directors of Pelican Resources are please to advise the Share Sale and Assignment of Debt Agreement relating to the sale of Sibuyan Nickel Properties Development Corporation, the beneficial owner of the Romblon Project located on Sibuyan Island in the Romblon Province in the Philippines, has been executed by an authorised officer of the purchasers, Dynamo Atlantic Limited and Dynamo Atlantic Holdings Philippines.