Deals this week: Kingston Resources, Fireweed Zinc, Filo Mining

9 February 2018 (Last Updated February 8th, 2018 16:29)

Kingston Resources has raised A$4.26m ($3.37m) in a private placement of 194 million shares each priced at A$0.022 ($0.017).  

Kingston Resources has raised A$4.26m ($3.37m) in a private placement of 194 million shares each priced at A$0.022 ($0.017).

Bridge Street Capital Partners and Curran & Co served as joint lead managers for the transaction.

Kingston has further agreed to raise A$1m ($790,000) in share purchase plan priced at A$0.022 ($0.017) a unit.

Based in Australia, Kingston Resources is engaged in the exploration of gold and copper.

Fireweed Zinc plans to raise C$4.98m ($3.99m) in a private placement of three million flow-through common shares each priced at C$1.66 ($1.33).

The company has simultaneously announced the private placement of 3.81 million common shares each priced at C$1.32 ($1.05) to raise C$5.03m ($4.03m).

Resource Capital Funds has agreed to subscribe to four million shares offered under the private placement.

Based in Canada, Fireweed Zinc is engaged in mineral exploration and development, while Resource Capital Funds is a US-based private equity firm focused on mining.

Filo Mining has agreed to raise C$15m ($12.06m) by issuing 5.77 million shares priced at C$2.60 ($2.09) each in a bought deal financing.

Underwriters are allowed to purchase an additional 15% of the total shares issued under the offering, within 30 days from the closure of the offering.

The company has also agreed to raise $8.04m from Zebra Holdings and Investments, and Lorito Holdings through a non-brokered private placement of shares priced at C$2.60 ($2.09) a unit.

Based in Canada, Filo Mining is engaged in the exploration of copper, gold, and silver.

Propect Resources has reached an option agreement with TSM Enterprises to acquire the Tombolo Klippe project in the Democratic Republic of Congo.

Based in Australia, Propect Resources is engaged in the exploration and evaluation of mineral resources.

Canadian mineral exploration company Rupert Resources plans to raise C$5m ($4.02m) in a non-brokered private placement of up to 6,024,096 common shares priced at C$0.83 ($0.66) each.

The company also has an option to raise C$5.75m ($4.62m) through the private placement of an additional 903,614 common shares.

Dempsey Minerals has entered an option agreement with Blue Sky Lithium for 100% acquisition of the latter’s mining tenements located in Hombre Muerto salt flat, Catamarca Province, Argentina.

Dempsey Minerals plans to complete the acquisition by way of asset sale management or by acquiring 100% of Blue Sky Lithium’s issued capital.

Dempsey Minerals is engaged in the exploration of lithium, tin, and tantalum, while Blue Sky Lithium is a lithium exploration company. Both companies are based in Australia.