Deals this week: Riverside Resources, Condor Gold, KGL


Canadian exploration company Riverside Resources Inc is planning to raise up to C$3.02m ($2.3m) through a non-brokered private placement of 5.5 million units, each comprising one common share and one half of one common share purchase warrant.

Units are priced at C$0.55 ($0.41) each, while each warrant can be exercised into one common share, at a price of C$0.85 ($0.64) a share, for two years from closing.

The company intends to utilise the funds to acquire new projects, fund first phase exploration at its Cecilia gold project, and for general corporate purposes.

UK-based gold exploration company Condor Gold Plc has completed a private placement of units, each comprising one ordinary share and half of one share purchase warrant.

The company has raised £5.2m ($6.45m) through the issue, which involved the placement of 8,293,443 units each priced at £0.62 ($0.76).

Australian mining company KGL Resources Limited is intending to raise up to A$3m ($2.29m) by issuing shares to its existing shareholders at a price of A$0.27 ($0.20) each.

Proceeds from the transaction are intended to be used to perform drilling on the Jervois tenement. The deal is expected to be complete by 9 March.

"The placement involves 111 million ordinary shares each priced at $0.01."

Australia-based exploration company Cohiba Minerals Limited has announced its intention to raise A$1.44m ($1.1m) in private placement of ordinary shares in order to fund exploration of its current charge lithium projects in Western Australia, and for supplementing its working capital.

Part of the funds will be used for due diligence of the company’s proposed acquisition of Cobalt X and to progress exploration of the target company’s projects.

The placement involves 111 million ordinary shares each priced at A$0.013 ($0.01).

Canadian gold exploration company Rapier Gold Inc has unveiled plans to raise C$2.5m ($1.91m) in a non-brokered private placement of non-flow through units and flow through units in order to advance its Pen Gold Project and supplement its general working capital.

The non-flow through units are priced at C$0.1 ($0.07) each, while flow through units are priced at C$0.115 ($0.08) a unit.

Each unit will include a transferable common share purchase warrant that entitles the holder to buy one common share at an exercise price of C$0.15 ($0.11) for 24 months from the date of issue.