Corporate finance deals Oct 8 to 12 2018

Peel Mining advises that the fully underwritten non-renounceable entitlement offer announced on 7 September 2018 closed 2pm Wednesday, 3 October 2018. The entitlement issue offered eligible shareholders the ability to subscribe for 1 New Share for every 8 Shares held, at an issue price of $0.36 per Share to raise $8,736,119.

Tikforce, is pleased to advise it has completed the private placement of fully paid ordinary shares to raise $88,286.25.

Alloy Resources is pleased to announce that firm placement commitments have been received from professional and sophisticated investors to raise approximately A$400,000 before costs. The placement of 114.2 million ordinary fully paid shares at A$0.0035 will be completed pursuant to the Company’s 15% placement capacity under ASX Listing Rule 7.1.

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 as previously announced on 6 June 2018. Pursuant to the funding agreement Cougar has to date received $800,000 (less $35,000 fee) from an issue of two tranche of convertible notes (with a combined face value of $960,000), together with an initial prepayment for shares of $50,000, which is now due to be settled. As previously announced, Cougar must issue shares to satisfy each prepayment calculated based on the volume weighted average share price of the Company. A floor price was previously agreed which limits the Company share purchase price by Lind to $0.005 per share. However due to the market conditions, the calculated purchase price to settle the initial prepayment is now below the floor price. Following negotiations between Lind and Cougar, both parties agreed to a full settlement of the initial prepayment by an issue of 20 million fully paid ordinary shares to Lind, with an effective share price of $0.0025 per share. While this effective share issue price is below the floor price previously disclosed to shareholders, the Cougar Directors believe this is in the best interests of the Company due to the following:- • having settled the prepayment in shares, Cougar can conserve cash • the amount of shares issued is relatively small; and • this agreement is a short term compromise due to the market condition, and Company management will revisit the funding arrangement if conditions persist.

K2fly advises that the non-renounceable pro-rata rights issue announced on 12 September 2018 closed on Friday 5 October 2018. The Rights Issue was fully underwritten by K S Capital Pty Ltd. The Rights Issue offered eligible shareholders registered on the Record Date the ability to subscribe for 1 new share for every existing 10 shares held on the Record Date at an issue price of $0.30 per share, together with one listed option for every four New Shares subscribed for with an exercise price of $0.20 and expiry date of 18 May 2020 to raise $1,812,293 (before costs). K2Fly has accepted additional shares applied for by shareholders beyond their entitlement. The shortfall of 3,768,306 New Shares and 942,062 New Options will be placed with the Underwriter (Shortfall Securities). As disclosed in Section 4.6 of the Prospectus, the Underwriter entered into sub-underwriting agreements with Brian Miller, Jenny Cutri and James Deacon for a total of $60,000 of the Rights Issue shortfall.

As announced on 26 June 2018 and updated on 30 July 2018, Pacifico signed a Binding Terms Sheet with Quintana MH Holding Company to obtain all of the shares in KBL Sorby Hills Pty Ltd and Sorby Management Pty Ltd. KBL Sorby Hills Pty Ltd owns 75% of the Sorby Hills project with Henan Yuguang Gold & Lead Co. Ltd owning the remaining 25%. Pacifico is delighted to report that all conditions precedent have now been satisfied or waived and the acquisition has been completed.

Xstate Resources is pleased to announce that it has received commitments to raise $1.0 million (before costs) via a private placement to new and existing domestic investors. The Placement will result in the issue of approximately 333.33 million new fully paid ordinary shares in the Company, at an issue price of $0.003 per share. The Company will also issue Directors and Management with a further 33.3 million shares in return for retiring debts totaling $100,000.

Dragontail Systems is pleased to announce that the $6,077,500 investment in the Company by Tiger Global Management (see ASX announcement 10 October 2018) has settled today and the Company has issued 32,500,000 Shares. The investment of 32,500,000 new shares at an issue price of $0.187 per share was within the Company’s ASX Listing Rule 7.1 and 7.1A capacity available for issue with 25,025,000 Shares to be issued under LR7.1 and 7,475,000 Shares under LR7.1A.

Orion Equities advises that it has completed the sale of its Olive Grove Agribusiness Assets in consideration of $1.45 million cash. The sale has resulted in an accounting profit of approximately $0.15 million for the current financial year (net of costs). The Company’s Agribusiness Assets comprised a 143 hectare property comprising olive grove freehold land (with a water licence entitlement), olive trees (with approximately 64,500, 19 year old plantings) and depreciable plant and equipment.

Sandfire Resources is pleased to advise that it has today completed the acquisition of the 30% interest in the Springfield Exploration and Mining Joint Ventures held by Talisman Mining, giving it 100% ownership of the Springfield Project including the high-grade Monty Copper-Gold Mine. Following this approval, Sandfire has completed the acquisition of Talisman’s subsidiary, Talisman A Pty Ltd, for the purchase price of $72.3 million in cash on a debt-free and cash-free basis. Sandfire will be required to pay stamp duty in relation to the Transaction and has also incurred other transaction costs. Talisman retains an ongoing 1% Net Smelter Return royalty payable on any future discoveries at the Springfield Project.

Talisman Mining is pleased to advise it has completed the sale of its 30% interest in the Springfield Exploration and Monty Mining Joint Ventures (Springfield Project) to Sandfire Resources for $72.3 million in cash on a debt-free and cash-free basis. The Company has received net proceeds of $58.15 million from Sandfire after the repayment of the Loan Facility and Working Capital Facility debts to Taurus. In addition, Talisman retains an ongoing 1% Net Smelter Return (NSR) royalty payable on 100% of any copper and gold extracted from the Springfield Project above the Monty mine plan (based on the Monty Feasibility Study released in April 2017) (Monty Mine Plan). The cash proceeds allow Talisman to now advance preparation to return up to $46.5 million to shareholders through a potential dividend and capital return

Triton Minerals advises that it has issued 14,000,000 fully paid ordinary shares at an issue price of $0.047 per share to Shandong Tianye Mining Co. Ltd to complete the Strategic Placement of $658,000 as outlined in the Company's ASX announcement dated 31 August 2018. The Company has also been notified by STM that it has paid $441,667 for 9,397,179 ordinary shares in relation to the entitlements offer which was announced to the ASX on 31 August 2018.