Deals this week: Battery Minerals, Argentina Lithium & Energy

24 November 2017 (Last Updated November 24th, 2017 12:05)

Battery Minerals has agreed to raise A$6.12m ($$4.62m) in a first tranche private placement of 102 million shares.

Battery Minerals has agreed to raise A$6.12m ($$4.62m) in a first tranche private placement of 102 million shares.

The placement will be made in two rounds, with BAT issuing approximately 325 million shares priced at A$0.06 ($0.05) each.

The company has engaged Hartleys and Morgans Corporate as its joint lead managers for the transaction.

Based in Australia, Battery Minerals is engaged in mineral exploration.

Argentina Lithium & Energy (formerly Iron South Mining) has agreed to raise C$3.3m ($2.58m) in a non-brokered private placement of ten million units priced at C$0.33 ($0.25) a unit.

Each unit will comprise one common share and one transferrable common share purchase warrant, which entitles the holder to purchase an additional common share at C$0.4 ($0.3) within a year from the issue date.

Argentina Lithium & Energy is a Canada-based iron exploration company.

Kalium Lakes has agreed to raise A$14m ($10.57m) in a private placement of 33.8 million shares priced at A$0.42 ($0.31) a share.

Based in Australia, Kalium Lakes is a mineral exploration and development company engaged in the production of sulphate and potash.

“Brent Smoothy is the biggest shareholder in the company, and has agreed to bid into the book-build for A$2m ($1.51m) as part of the placement.”

Brent Smoothy is the biggest shareholder in the company, and has agreed to bid into the book-build for A$2m ($1.51m) as part of the placement.

Kalium has engaged Macquarie Capital (Australia) and BurnVoir Corporate Finance as joint lead managers for the transaction.

Canadian mineral exploration company Tasca Resources has agreed to raise C$3m ($2.35m) by issuing five million units priced at C$0.6 ($0.46) a unit in a private placement.

Each unit will comprise one common share and one transferable common share purchase warrant, which will entitle the holder to acquire an additional common share. The warrant holder can purchase the share at a price of C$0.75 ($0.59) within 24 months from the issue date.

Tasca is focused on acquiring, exploring and developing mineral properties.

Anson Resources has agreed to raise A$1.76m ($1.33m) in a second round of private placement from Zhongfan Group.

The placement will include the issue of 20 million shares at a price of A$0.08 ($0.06) each.

Based in Australia, Anson is a mineral exploration company engaged in the exploration of graphite, zinc, lead, and gold.