Deals this week: Pengxin International Mining, Alio Gold, Red Eagle Mining
China-based Pengxin International Mining is planning to raise CNY1.51bn ($221.35m) through a private placement of shares.
Pengxin is a mineral exploration company engaged in the development of mineral properties, especially of copper and cobalt.
Canadian gold mining company Alio Gold has agreed to raise C$50m ($37.81m) in gross proceeds by issuing eight million units on a bought deal basis with a syndicate of underwriters led by Cormark Securities and Clarus Securities.
Each unit is priced at C$6.25 ($4.72) and consists of a common share of Alio Gold and one-half of a common share purchase warrant. This plan gives an option to acquire one common share at a price of C$8 ($6.04) within 12 months from the date of closure of the offer.
Underwriters are also being offered an additional 1.2 million units at the offer price.
Australia-based gold-copper exploration company West African Resources plans to raise C$15m ($11.28m) through a private placement of 46,875,000 ordinary shares priced at C$0.32 ($0.24) a share.
Underwriters are allowed to subscribe for an additional 7,031,250 shares to raise C$2.25m ($1.69m), which will increase the total gross proceeds to C$17.25m ($12.97m).
Sprott Capital Partners is the underwriter for the offering.
Canada-based zinc projects developer Zinc One Resources has acquired the Bongara zinc-oxide project and the Charlotte Bongara zinc-oxide project for $1.15m.