Deals this week: Titan Minerals, Antipa Minerals, Crystal Lake Mining

25 May 2018 (Last Updated May 24th, 2018 15:51)

Titan Minerals has agreed to raise A$4m ($3.01m) as part of a second-tranche private placement of 133.33 million shares priced at A$0.03 ($0.02) a share.

Titan Minerals has agreed to raise A$4m ($3.01m) as part of a second-tranche private placement of 133.33 million shares priced at A$0.03 ($0.02) a share.

The transaction follows the first tranche of private placement, which saw the company issue 233.33 million shares priced at A$0.03 ($0.02) a share to raise a total of A$7m ($5.28m).

Australia-based Titan Minerals is engaged in the exploration and development of gold and copper projects.

The company has engaged Canaccord Genuity (Australia) as its lead manager and book-runner for the transaction.

Antipa Minerals plans to raise A$4.3m ($3.22m) by issuing approximately 358.33 million shares priced at A$0.012 ($0.009) a share via an entitlements offer.

The company’s shareholders will receive a new share for every four shares held as of June 2018 as part of the latest offering.

"Orion Minerals has agreed to issue 100 million ordinary shares priced at A$0.05 ($0.04) a share as part of a private placement to raise A$5m ($3.75m)."

Antipa also plans to raise a further A$3.3m ($2.47m) in a two-tranche private placement of approximately 270 million shares priced at A$0.012 ($0.009) a share.

Sophisticated and institutional investors will subscribe to the shares issued as part of the first tranche of placement, while the Sprott Group of companies will be the sole subscriber to the shares issued under the second tranche.

A total of 628 million new shares are set to be issued under the placement and entitlements offer.

Australia-based Antipa Minerals is primarily involved in mineral exploration.

The company has engaged Hartleys Limited and Discovery Capital Partners as joint lead managers for both of the transactions.

Crystal Lake Mining has raised C$0.7m ($0.54m) in gross proceeds under the first tranche of a C$1m non-brokered private placement to strategic investors.

The transaction involved the issuance of 1.2 million shares priced at C$0.55 ($0.43) a share.

Each unit of the C$1m ($0.78m) placement comprises one common share and one full share purchase warrant, which entitles the holder to purchase an additional common share at a price of C$0.70 ($0.54) within two years of the issue date.

Crystal Lake Mining is a mineral exploration company based in Canada.

Orion Minerals has agreed to issue 100 million ordinary shares priced at A$0.05 ($0.04) a share as part of a private placement to raise A$5m ($3.75m).

The shares issued under the placement are set to be subscribed to by Independence Group (IGO), an Australian mining company.

IGO’s share in Orion will increase from 4.2% to 11.1%, following the placement.

Australia-based Orion Minerals is primarily engaged in mineral exploration.

Triple Flag Mining Finance Bermuda has signed agreements with AuRico Metals (AMI) to acquire the royalty portfolio and silver stream of the Kemess project for $200m.

The company has agreed to pay $45m as an advance in three tranches, while the remaining $155m will be supplied in royalties.

Triple Flag Mining Finance Bermuda is a subsidiary of Canada-based investment holding company Triple Flag, while AuRico Metals is a wholly owned subsidiary of gold mining firm Centerra Gold.

All companies involved in the transaction are based in Canada.

Triple Flag has engaged Torys as its legal advisor, while Centerra Gold has engaged the Bank of Nova Scotia (Scotiabank) as its financial advisor and Stikeman Elliott as legal advisor for the transaction.