Deals this week: BonTerra, WPC Resources, Inca Minerals

9 February 2017 (Last Updated February 9th, 2017 18:30)

Canadian gold exploration company BonTerra Resources Inc has entered two separate agreements to raise C$3m ($2.3m) from each private placement.

Canadian gold exploration company BonTerra Resources Inc has entered two separate agreements to raise C$3m ($2.3m) from each private placement.

These deals comprise 8.58 million flow-through common shares and 10.72 million common shares priced at C$0.35 ($0.26) and C$0.28 ($0.21) a share respectively.

Sprott Capital Partners is the underwriter for both transactions.

Proceeds from the offerings are intended to be used for general corporate and working capital purposes.

WPC Resources Inc intends to raise C$5.6m ($4.29m) in a non-brokered private placement of up to 80 million units.

Units are priced at C$0.07 ($0.05) each and comprise one common share and one-half of transferable common share purchase warrant.

"The company will issue 46.8 million fully paid ordinary shares at an average price of $0.01 each as part of the placement."

Each full warrant is exercisable for one common share at a price of C$0.15 ($0.11) for 12 months following the closure of the private placement.

The proceeds are intended to be used to acquire Lupin Mines Inc and the maintenance and advancement of the target company’s assets, while part of the funds will also be utilized to meet general corporate and working capital needs.

Australian mining company Inca Minerals Limited has signed binding agreements for placement of ordinary shares to raise A$940,000 ($680,000) in gross proceeds.

The company will issue 46.8 million fully paid ordinary shares at an average price of A$0.02014 ($0.01) each as part of the placement.

Acuity Capital (Proprietary) Limited will be issued 40 million shares as part of the placement.