Tethyan Resources has agreed to raise C$3.5m ($2.75m) by issuing 10.5 million ordinary shares, priced at C$0.3 ($0.23) a share, on a post-consolidated 1:6 basis in a private placement.

Southern Arc Minerals intends to acquire up to 3.167 million ordinary shares representing an investment of approximately C$0.95m ($0.75m). Southern Arc currently holds 29.9% of the issued and outstanding ordinary shares of Tethyan Resources.

As part of the financing, Tethyan Resources may pay a 6% finder’s fee in cash and 6% in warrants. The warrants can be exercised within two years from the closure date.

Based in the UK, Tethyan Resources is a mineral exploration company engaged in the processing of gold and base metals.

Belgian metals and mining company Nyrstar has raised €100m ($116.56m) by issuing 15,384,616 new shares, each priced at €6.50 ($7.57), under a private placement.

Nyrstar is engaged in the production of zinc, copper, lead, precious and speciality metals.

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By GlobalData
“As part of the financing, Tethyan Resources may pay a 6% finder’s fee in cash and 6% in warrants.”

The new shares issued under the private placement will increase the total number of shares of the company to 109,033,545, which is equivalent to 16.4% of the total outstanding shares.

The company has engaged J.P. Morgan Securities and KBC Securities as joint book-runners for the transaction.

Quest Minerals has agreed to raise A$4.5m ($3.44m) by issuing shares priced at A$0.03 ($0.023) each.

The Australian mineral exploration company has agreed to issue the shares in a public offering.

UK-based Xtract Resources has raised £1.7m ($2.23m) by issuing 59,649,140 shares priced at £0.028 ($0.037), in a private placement.

The newly issued ordinary shares make up 20.5% of the total issued ordinary share capital of the company.

The company has engaged Beaufort Securities as broker and will issue 5,964,914 warrants, subject to shareholder’s approval. To be exercised within two years from the issue date, the warrants can be exercised at a price of £0.0285 ($0.037) a share.

Xtract Resources is engaged in gold and copper exploration and development.

Canadian copper and gold explorer Kerr Mines has agreed to raise C$5m ($3.93m) in a non-brokered private placement of shares.

The company proposes to issue 16,666,667 shares priced at C$0.30 ($0.23) a share, as part of the placement.