Deals this week: Red Metal, Impact Minerals, Avesoro Resources

3 November 2017 (Last Updated November 3rd, 2017 11:37)

Red Metal has agreed to raise A$1.85m ($1.42m) in a private placement of 13.215 million shares priced at A$0.14 ($0.10731) a share. 

Red Metal has agreed to raise A$1.85m ($1.42m) in a private placement of 13.215 million shares priced at A$0.14 ($0.10731) a share.

The Australia-based mineral exploration company has engaged Veritas Securities as the lead manager for the transaction.

Australia-based Impact Minerals has agreed to raise approximately A$2.5m ($1.916m) in a placement of shares, priced at A$0.02 ($0.01) a share.

The placement will be subscribed to by sophisticated and professional investors, and include 125 million shares priced at A$0.02 ($0.01) a share.

The company has engaged Xcel Capital as its lead manager and Mineral Intelligence as a corporate adviser for the placement.

Avesoro Resources has agreed to raise £15.2m ($19.95m) in a private placement of shares. The company will issue 99,681,021 common shares priced at £0.019 ($0.024) a share, under the placement.

Based in Canada, Avesoro Resources is engaged in the exploration, development, and operation of gold assets.

“The company has granted an option to underwriters to purchase an additional 15% of the shares at the issue price.”

The company has engaged Numis Securities, Hannam & Partners (Advisory) and Sprott as joint book runners for the placement.

Emeco Holdings has agreed to raise approximately A$80m ($61.41m) in a non-renounceable entitlement offer of 380.8 million new shares.

Each share issued under the offering will be priced at A$0.21 ($0.16), and the shareholders will receive one new share of Emeco Holdings for every 6.4 shares.

The Australia-based company is engaged in the supply of equipment to mining and construction industries.

Neo Lithium Corporation has agreed to raise C$20m ($15.58m) in a private placement of 10.3 million shares of its common stock at a price of C$1.95 ($1.51) a share.

The company has also granted an option to underwriters to purchase an additional 15% of the shares at the issue price.

The company has engaged Cormark Securities as underwriters for the offering.

Based in Canada, Neo Lithium is focused on lithium exploration.