16/09/2019 - 13:54

Corporate finance deals Sep 9 to 13 2019

16/09/2019 - 13:54

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A summary of last week's smaller deals that did not get included in our daily news coverage.

Corporate finance deals Sep 9 to 13 2019

Bardoc Gold has announced plans to acquire the Mayday and North Kanowna Star gold projects for a consideration of 12 million shares.

 

Range Resources has raised £750,000 through a placement at 0.049 pence a share.

 

The Go2 People have informed shareholders that its planned acquisition of Industry Pathways has been terminated by the vendors.

 

Consolidated Zinc has raised $1 million through a placement at 1.1 cents a share.

 

Pacific Bauxite has completed the sale of its residual interests in milestone payments and royalties from the Mt Richardson, Rogetta and Golden Camel projects.

 

Trek Metals has announced a $2.4 million placement at a pre-consolidation price of 0.25 cents a share.

 

Babylon Pump & Power has completed its acquisition of Primepower Queensland.

 

CFOAM has announced a placement to existing shareholders to raise $2 million at 10.5 cents a share. This accompanies the announcement of a $US1.4 million 10 per cent direct equity investment by CONSOL Energy into CFOAM’s US subsidiary CFOAM Corp.

 

MGC Pharmaceuticals has closed its priority offer, raising $1 million at the same 4 cents a share price as the $4.75 million placement which was announced in August.

 

Lion Energy and Gulf Petroleum Investment Company have mutually terminated their agreement to transfer GPI’s 16.5 per cent stake in the Seram (Non Bula) petroleum assets.

 

Tap Oil has completed the sale of its Australian and New Zealand assets for negative $US3.21 million. Tap Oil expects to make a $US2.58 million profit through the deal, due to previous write-downs of those assets due to future abandonment costs.

 

Tim Roberts’ investment vehicle Warburton Portfolio has increased its holding in Galena Mining through an off-market purchase of 30.4 million shares. Galena Mining also received $708,000 through the exercise of options by directors.

 

Oro Verde has completed its acquisition of an initial 20 per cent stake in the Makuutu rare earths project, with an option to increase its stake to 60 per cent.

 

Cycliq Group has placed the remaining shortfall to its entitlement issue, raising an additional $302,674.

 

Empire Resources has acquired Evolution Mining’s interest in the Yuinmery copper-gold tenements. Consideration comprises a 1.25 per cent net smelter royalty.

 

Horizon Minerals and Northern Star Resources have committed to a nil cash consideration asst swap. Horizon will divest its the Anthill, Blister Dam, New Mexico, White Flag and Kanowna North tenements and acquire Northern Star’s Rosehill,Brilliant North and Gunga West projects in Coolgardie and the Golden Ridge, Balagundi, Abattoirand Mt Monger projects in Kalgoorlie

 

Redbank Copper has raised $300,000 through two $150,000 convertible note issues to Wyllie Group and Lantech Developments.

 

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