Deals this week: Wealth Minerals, Boreal Metals, Euromax Resources


Wealth Minerals has reached an agreement to issue up to 2,492,533 shares priced at C$1.5 ($1.21) a share in a non-brokered private placement to raise C$3.73m ($3.02m). 

The shares issued under the offering will have a holding period of four months from the offer closing date.

The company also proposes to issue 800,000 common shares as bonus shares, in addition to 224,000 common shares, to settle C$420,000 ($340,000) debt.

Wealth Minerals is a Canada-based junior mineral resource exploration company engaged in the acquisition and development of precious metals and lithium prospective properties. 

Canada-based Boreal Metals plans to raise C$2m ($1.62m) by issuing 6.66 million short form offering document (SFOD) units priced at C$0.30 ($0.24) a unit.

Each SFOD unit will comprise a common share and one-half of a common share purchase warrant, which gives an option for the warrant holder to buy an additional common share of the company at a price of C$0.50 ($0.40) within 24 months from the offer closing date. 

The agent will be paid a cash commission of 8% of the gross proceeds raised from the sale of the SFOD units, in addition to 600,000 units as a corporate finance fee.

The warrants purchased by the agents can be exercised for one common share at a price of C$0.30 ($0.42) for a period of 18 months from the closing date of the financing.

Boreal has engaged PI Financial as its placement agent for the offering.

The company concurrently proposes to raise C$1m ($810,000) through a private placement of 3.33 million units priced at C$0.30 ($0.24) each. 

Euromax Resources has agreed to raise C$3.5m ($2.83m) in gross proceeds in a private placement of ten million common shares at a price of C$0.35 ($0.28) a share.

"The company proposes to raise C$1m through a private placement of 3.33 million units priced at C$0.30 each."

Euromax has already raised C$4m ($3.24m) in a first tranche of private placement of 13,333,333 units at a price of C$0.30 ($0.24) a unit. The company has also agreed to issue 1,333,334 units priced at C$0.30 ($0.24) a unit to raise C$400,000 ($320,000) in a second round of private placements. 

Based in the UK, Euromax Resources is engaged in mining and mineral exploration and development.

Uranium Participation Corporation plans to raise approximately C$37.6m ($30.45m) in a bought deal offering of 10,745,000 common shares priced at C$3.50 ($2.83) each. 

The company has also awarded an over-allotment option to the underwriters to purchase an additional 855,000 shares.

The company has engaged Cormark Securities, Cantor Fitzgerald Canada Corporation, TD Securities and BMO Capital Markets as underwriters for the offering.

The Canada-based company is engaged in the development of uranium properties.

Gateway Mining has agreed to issue 160 unsecured convertible redeemable notes due 2020 in a private placement to raise A$8m ($6.36m). 

UK-based closed investment fund Baker Steel Resources Trust has agreed to acquire the bonds in two tranches, comprising 128 bonds in the first tranche and the remainder in the second within around 90 days of Gateway's extraordinary general meeting. 

With a face value of A$50,000 ($30,000), the bonds carry an interest rate of 8% a year.

Gateway Mining is an Australian mining company focused on the exploration and development of copper and base metal mineral properties.