Corporate finance deals Sep 3 to 7, 2018

Aspire Mining is pleased to announce that pre-commitments for the minimum $1.7 million dollar raising condition of the $15m Strategic Funding package have been received. Due to strong demand the Board has approved an increase in this placement to $2.1 million. The placement is on identical terms to the $10 million cornerstone placement to Mr Tserenpuntsag announced on 29 August 2018.

Whitebark Energy advises that the Placement Prospectus dated 31 August 2018 has closed fully subscribed. The Company has today issued 87,500,000 fully paid ordinary shares at $0.004 each and 87,500,000 options exercisable by payment of $0.01 each on or before 31 August 2020. The placement has raised an amount of $350,000 before costs.

Connected IO is pleased to confirm that it has completed its Placement raising $399,562 from sophisticated and professional investors. 133,187,333 Shares have been issued at $0.003 per Share under the Company’s 15% placement capacity in accordance with ASX Listing Rule 7.1.

Inca Minerals has successfully completed its recently announced rights issue under the Prospectus dated 2 August 2018 and, subject to clearance of all application funds, raised in excess of $680,000 (before associated costs). Under the Prospectus, eligible shareholders were invited to subscribe to a non-renounceable pro-rata entitlement offer of 1 new share for every 10 shares held on the record date, at an issue price of 0.5 cents per new share and, for every new share issued, shareholders will also receive 1 free attaching option with an exercise price of 1.2 cents and exercisable on or before 7 August 2020. Inca advises a 52% take-up of the offers under the Prospectus having received applications for 136,128,818 new shares and leaving a shortfall of 125,899,998 new shares. The Company expects to issue the new shares on or before 6 September 2018 as per the indicative timetable announced 21 August 2018.

Venus Metals Corporation has entered into a convertible loan agreement dated 3 September 2018 with Bazco Pty Ltd, an entity controlled by Mr Barry Fehlberg, an Executive Director of the Company, pursuant to which Bazco will advance $400,000 to the Company. Further details of the Convertible Loan are set out below. On or at any time prior to the Repayment Date, the Company may elect to: (a) repay the Principal in cash; or (b) subject to shareholders approving the conversion under the ASX Listing Rules (Shareholder Approval), issue up to 2,000,000 fully paid ordinary shares in the Company, ranking equally with the then existing shares at an issue price of $0.20 per Share in satisfaction of the Principal.

Helix Resources is pleased to advise that the company has executed a binding Interim Joint Venture Agreement with JOGMEC in relation to Helix’s 100%-owned Samuel Copper Project in Chile. The IJVA provides an avenue for JOGMEC to earn up to a 60% interest in the Samuel Project by funding a 3 stage US$2.4M program to 31 March 2021. The JV terms are:

Stage 1: Contribute US$0.4M (Minimum Commitment) by 31 March 2019 primarily for the purpose of undertaking of large-scale geophysical surveys and mapping of the Samuel porphyry and manto-style copper systems.

Stage 2: Contribute US$0.8M by 31 March 2020 primarily for the purpose of undertaking initial diamond drilling to drill test the identified mineralised systems.

Stage 3: Contribute US$1.2M by 31 March 2021 primarily for the purpose of undertaking a second phase diamond drilling to establish scale and continuity of an identified mineralised system. At completion of Stage 3 JOGMEC will earn an option to acquire 60% equity in the project and have the right to sell their joint venture interest by tender to a Japanese company.

Helix’s Chilean team will manage the project until the completion of Stage 3 with Helix receiving a Management Fee for these services.

Golden Rim Resources advises the results of its recently closed Share Purchase Plan. Applications from shareholders subscribing for approximately 15 million shares at an issue price of 2.6 cents per share have been received, raising approximately $392,000 (before costs). The shares are expected to be issued on Monday, 10 September 2018.

Geopacific Resources notes that Pacific Road Capital has today sold its 6% shareholding in Geopacific on market to a range of existing institutional and sophisticated shareholders. Pacific Road became a shareholder in Geopacific through acceptance of Geopacific’s takeover offer for Kula Gold in 2017. The Geopacific shares were held in a Pacific Road fund that is approaching the end of its term. Geopacific welcomes the support of its existing shareholders which purchased the Pacific Road holding. The share trade was facilitated by Petra Capital.

Emmerson secures Strategic Alliance with TRL Tennant Creek Pty Ltd (a subsidiary of Territory Resources Ltd) that includes a Mining and Exploration Joint Venture covering the Southern Project Area at Tennant Creek. TTY to subscribe for A$2m of new Emmerson shares priced at A$0.1035 a share, a 56.82% premium to the last traded price (completed within Emmerson’s placement capacity under Listing Rule 7.1). Emmerson has sold its mothballed Warrego Mill to TTY, with TTY committing to construction of a modern 300,000tpa Carbon in Pulp mill on the site.

Liontown Resources is pleased to advise that further to the announcement dated 20th August 2018, it has completed Tranche 1 of the agreement to acquire the Killaloe Project (Figure 1), located 25km North-East of Norsman, from Matsa Resources. Under the agreement, Liontown will acquire Matsa’s rights to the Killaloe Project by issuing 20 million fully-paid ordinary shares, at a deemed value of 3cps, to Matsa as follows: 10 million shares in relation to Matsa’s wholly-owned tenure (Tranche 1); 10 million shares in relation to Matsa’s 80%-owned tenure (Tranche 2); and Paying Matsa a 1% NSR for all minerals produced by Liontown. Liontown has now issued 10 million shares as consideration for the acquisition of 100% of EL 63/1646, 1655, 1660, 1661, 1662 and 1713 and one granted Mining Lease (M 63/177). Liontown will also grant Matsa a 1% NSR for all minerals produced by Liontown from these tenements. Completion of Tranche 2 is conditional on Cullen Resources Limited not exercising its pre-emptive rights under its agreement with Matsa in relation to EL 63/1018 and 1199. Cullen has up to 50 days to exercise its pre-emptive rights.

Hawkstone Mining is pleased to announce that all conditions precedent to the acquisition of USA Lithium Limited have now been satisfied or waived. For full details of the terms of the acquisition, please see the notice of meeting lodged with the ASX on 4 July 2018.

European Lithium is pleased to advise that it has secured a A$10m finance facility to fast-track the completion of a DFS at the Wolfsberg Lithium Project in Austria. EUR will receive A$2.5 million immediately with a further A$7.5m available in A$2.5M tranches upon the Company meeting the following key milestones: Tranche 2 A$2.5 million upon the commencement of drilling for the definitive feasibility study at the Wolfsberg Lithium Project; Tranche 3 A$2.5 million upon the finalisation and release of a new JORC reserve / resource; and Tranche 4 A$2.5 million has no specific milestone. The Convertible Notes will have a face value of A$1.10 each (Face Value). The Convertible Notes are convertible at any time by the Investor at the lower of (a) A$0.30; or (b) a 15% discount from the lowest VWAP over ten (10) days prior to the conversion date, provided that the conversion price shall not in any case be lower than A$0.10 (floor price).

The non-renounceable pro-rata rights offer made to shareholders of Tasman Resources who were on the register as at 5:00pm WST on 17 August 2018 pursuant to an offer document dated 13 August 2018 which closed on 4 September 2018. Accordingly upon completion of issuing of the New Shares and New Options, the total amount raised will be $1,726,189.25