17/09/2018 - 16:39

Corporate finance deals Sep 10 to 14, 2018

17/09/2018 - 16:39


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Corporate finance deals Sep 10 to 14,  2018

Advanced Braking Technology is pleased to announce the completion of its non-renounceable Retail Entitlement Offer. Shareholders and Institutions showed strong support for the Company, with substantial uptake of the Institutional and Retail Entitlement offers raising $1.28m before costs.


The pro-rata non-renounceable rights offer made to shareholders of Conico who were on the register as at 5:00pm WST on 16 August 2018 pursuant to an offer document dated 7 August 2018 which closed on 6 September 2018. Accordingly upon completion of issuing of the New Shares and New Options, the total amount raised will be $647,945.97 (before the payment of the expenses of the issue).


Oilex is pleased to announce that it has arranged a debt and equity capital raising to secure funding of £0.63 million (A$1.14 million), underpinning the Company’s near term financial requirements into the new year. The equity capital raising of 259,816,694 shares at 0.19 pence (A$0.003434) per share for gross proceeds of £493,652 has been undertaken by Novum Securities and is also supported by existing shareholders. In this regard, the Company has received firm written confirmation from Novum for the placing of 157,894,737 shares for £300,000 at 0.19 pence per share. In addition, the Company has entered into a subscription agreement with Republic Investment Management Pte Ltd and nominees for 101,921,957 shares to raise £193,652 at 0.19 pence.


Titan Minerals wishes to advise that it has elected not to proceed with the acquisition of Kairos Capital Peru S.A.C and M&S Transportes y Servicios Generales S.R.L and accordingly, will not be acquiring the Mirador processing plant.


Syndicated Metals is pleased to advise that it has entered into an agreement to relinquish its royalty entitlement over the Barbara Copper Project in North Queensland in exchange for cash consideration from its former joint venture partner, Round Oak Minerals Pty Ltd. Syndicated owns the right to a production royalty payable on the first 10,000 tonnes of copper‐inconcentrate (or ore equivalent) produced by the Barbara Project. The royalty interest formed part of the consideration which Syndicated received from the sale of its 50% interest in the Barbara Project to Round Oak in June last year. The royalty is payable based on a sliding scale of 1‐2% of the net smelter return (NSR) generated from the sale of concentrate or ore equivalent, determined by the copper price. Under the terms of the Deed of Termination between Syndicated and Round Oak, the total consideration for Syndicated’s relinquishment of its royalty entitlement is $460,000 in cash.


Arafura Resources announces it has completed the retail component of its accelerated non-renounceable 1 for 4 pro-rata entitlement offer as announced on 10 August 2018. The Retail Entitlement Offer closed on 7 September 2018 and raised approximately $1.85m at an offer price of $0.08 per new share. Eligible Retail Shareholders who applied for additional New Shares in excess of their entitlement under the Top-Up Facility as detailed in the Retail Offer Booklet will be allocated in full.


Hammer Metals confirms that the Company’s non-renounceable option entitlement offer has closed on 7 September with existing shareholders taking up approximately 108,699,189 options under the Offer or 67% of the issue. The underwriter, DJ Carmichael Pty Limited has fully subscribed for the remaining shortfall of 52,656,016 options and HMX confirms that all Options under the Offer have now been applied for and will be issued in accordance with the terms set out in the Prospectus. In total the Company has accepted valid applications totalling 161,355,205 Options raising a total of $806,776. As a result of the strong interest in the Offer and the Company, the Company has determined to accept an additional $200,000 as a strategic share placement to DJC at $0.03 per share for 6,666,667 shares including 4,000,000 free attaching options on the basis of 3 options for every 5 shares taken up in the placement and issued on the same terms as those to be issued under the Offer. The Strategic Placement will be completed without shareholder approval under the Company’s 7.1 placement capacity.


Medical technology company Proteomics International Laboratories announces it will receive a boost to its balance sheet with the cash sale of its shareholding in CPR Pharma Services Pty Ltd (CPR). Proteomics International to receive $928,399 for its shareholding in CPR. MOU between Proteomics International and CPR remains in place, targeting advanced diagnostics and analytical services for clinical trials. Proteomics International has received notice that an offer to purchase all the shares of CPR has been received and accepted by CPR's majority shareholder. In accordance with the drag along provisions of the Shareholder Agreement, Proteomics International will receive $928,399 for its shareholding in CPR. The sale is due to settle on or about 30 September 2018. In March 2018 Proteomics International issued 3,868,305 ordinary PIQ shares (at a deemed issue price of $0.3045) to acquire 10% of the fully diluted issued share capital of CPR [ASX: 5 Mar 2018]. The sale therefore equates to receipt of $0.24 per PIQ share issued. The issued shares will remain in escrow until 4 March 2019.


Troy Resources is pleased to announce the acquisition of the exciting Ohio Creek Prospect located near the Company’s Karouni Project in Guyana. The acquisition cost of Ohio Creek is a half yearly payment of US$50,000 until commercial production from the tenements and thereafter a sliding scale royalty on gold production will apply.


Due to the ongoing success of exploration and resource development activities at its key Australian lithium and vanadium projects, Liontown Resources advises that it is now in the process of relinquishing its interests in the Jubilee Reef Gold Project in Tanzania.


Apollo Minerals is pleased to advise that, following the satisfaction of Conditions Precedent, it has completed the acquisition of the remaining 20% interest in the Couflens tungsten-copper-gold project in the Pyrenees region of southern France, thereby increasing its ownership to 100%.


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