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December 22, 2017

Deals this week: Mithril Resources, Horizonte Minerals

Mithril Resources has agreed to issue 24,662,253 shares priced at A$0.026 ($0.019) a share in a private placement to raise A$640,000 ($490,000) from sophisticated investors.

Mithril Resources has agreed to issue 24,662,253 shares priced at A$0.026 ($0.019) a share in a private placement to raise A$640,000 ($490,000) from sophisticated investors.

Based in Australia, Mithril Resources is engaged in the exploration and development of mineral properties with a focus on copper, gold, cobalt, and nickel.

Horizonte Minerals has agreed to raise £1.5m ($2m) in a private placement of 42,857,143 shares priced at £0.035 ($0.047) each.

The company has engaged Numis Securities as broker, and NRG Capital and Paradigm Capital as financial advisors for the placement.

Based in the UK, Horizonte Minerals is engaged in the development of nickel mines.

Sabina Gold & Silver has agreed to issue 24.93 million shares priced at C$2.65 ($2.05) a unit to Zhaojin International Mining in a private placement to raise C$66.1m ($57.37m).

Following the placement, Zhaojin International will hold approximately 9.9% of issued and outstanding common shares of Sabina Gold on a non-diluted basis, with an option to increase it to 19.9%.

Sabina has engaged BMO Capital Markets as the financial adviser, Gowling WLG as legal adviser, and Sprott as the transaction adviser.

“The company also plans to raise $27.96m through issuing 143.1 million shares, each priced at $0.19.”

Sabina Gold & Silver is a mineral explorer and developer based in Canada, while Zhaojin International Mining is a gold producer and smelter based in China.

Base Resources has agreed to raise A$63.5m ($48.65m) in a renounceable entitlement offer of 249.1 million shares priced at A$0.25 ($0.19) each. The company proposes to issue one new share for every three accelerated pro-rata renounceable entitlements offer.

The company also plans to raise A$36.5m ($27.96m) through issuing 143.1 million shares, each priced at A$0.25 ($0.19) in a private placement.

Base Resources has engaged RFC Ambrian and Numis Securities as underwriters for the deal.

Based in Australia, Base Resources is engaged in the production of mineral sands.

Red Eagle Mining has raised C$5.61m ($4.3m) in a private placement of 16,045,454 units priced at C$0.35 ($0.27) each.

Each unit comprises a common share and a warrant, which is optionally convertible into a share at a price of C$0.50 ($0.39) up to 7 August 2022.

Red Eagle Mining is a Canada-based company engaged in the exploration and development of gold and mineral properties.

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