Deals and M&As this week: Triumph Gold, Nighthawk Gold, Emgold Mining Corporation

13 July 2018 (Last Updated July 27th, 2018 07:33)

Triumph Gold has raised a sum of $5.12m through the private placement of 14.64 million units priced at $0.35 a unit.

Triumph Gold has raised a sum of $5.12m through the private placement of 14.64 million units priced at $0.35 a unit.

Each unit comprises one common share in the company and one half of a non-transferable common share purchase warrant, which entitles the holder to convert it into an additional common share at a price of $0.55 within 24 months of the financing deal’s closure.

The funding round saw the participation of institutional investors, including a private Hong Kong fund that invested approximately $2.5m, as well as three of the company’s existing shareholders.

The company’s existing shareholders Goldcorp and Palisade Global Investments have subscribed to 2.72 and 2.9 million units placed under the offering respectively.

Goldcorp has exercised its right to increase its ownership to 19.9% via the placement.

Triumph Gold is a Canadian mineral exploration company.

Nighthawk Gold has raised $2.5m in gross proceeds through a non-brokered private placement of five million common shares priced at $0.50 a FT Share.

Canada-based Nighthawk Gold is primarily engaged in gold exploration.

Emgold Mining has raised C$433,039.80 ($328,102) via the issuance of 2.8 million flow-through units, priced at C$0.15 ($0.113) a unit, under a second tranche of non-brokered flow-through private placement.

“Nighthawk Gold has raised $2.5m in gross proceeds through a non-brokered private placement of five million common shares priced at $0.50 a FT Share.”

Each unit comprises one common share, issued as a flow-through share, along with one half of a non-transferable share purchase warrant, which entitles the holder to purchase an additional common share for C$0.25 ($0.19) within two years from the issue date.

Emgold has raised a total of C$602,289.75 ($456,338) through two tranches of private placement.

Canada-based Emgold is engaged in gold and silver exploration and mine development operations.

Plato Gold Corp plans to issue up to 5.45 million common shares, priced at C$0.055 ($0.041) a share, as part of a non-brokered private placement to raise gross proceeds of approximately C$300,000 ($227,303).

The issued securities will have a holding period of four months and one day.

Plato Gold is a Canadian exploration company, which is mainly focused on exploring precious and strategic metals properties.

Asia Broadband has signed a letter of intent (LoI) with a Chinese holding company to finalise the terms of a joint venture (JV) agreement relating to the expansion of its mining operations in Guerrero, Mexico.

The company is executing the LoI through its subsidiary Asia Metals.

The two companies have agreed to invest $30m over the coming three years in order to expand the resource base and construct a new production processing facility, which is expected to offer greater efficiency and higher capacity.

US-based Asia Broadband is a resource company focused on the production, supply and sale of precious and base metals, primarily to Asian markets.

Prospect Resources has signed an option agreement with J3 Mining to acquire up to 75% interest in the Malemba Nkulu project.

Prospect Resources is based in Australia and primarily engaged in the development of battery minerals in Africa.

Pershing Resources has agreed to purchase ownership interests in two Americas Gold Exploration (AGE) owned Central Nevada gold-silver mineral properties, including the West Bolo and Tonopah SIN projects, for a consideration of $0.28m.

The company has issued 13.77 million restricted common shares to AGE and a private partner for the exclusive earn-in rights on the two projects, which will continue to be operated and managed by AGE.

US-based Pershing Resources is a venture-stage mining company engaged in exploring and developing precious metals projects in North America, while AGE is a privately held Canadian mineral exploration company focused on the exploration of gold and copper metals.

Declan Resources has entered an arm’s length share purchase agreement to acquire 100% of the shares in Tisova and TGER.

The two companies hold a 100% interest in certain mineral concessions located in the Czech Republic and Germany.

Declan will issue $60,000 in cash in exchange for the shares in Tisova and TGER following the execution of the agreement, as well as 1.5 million common shares priced at $0.30 a share upon the fulfilment certain conditions.

The company has agreed to spend $1m on the properties by July 2019 and issue 2.5 million shares at that time.

Declan has also agreed to spend an additional $1m on the properties each year for the next three years and is slated to issue an additional four million shares to the vendors.

In addition, Declan plans to raise $2m by issuing eight million units priced at $0.25 a unit as part of a non-brokered private placement.

Canada-based Declan Resources is an independent mineral exploration company, while the target companies are private companies based in Australia.