M&A, Financing and Restructuring
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GOLD: Osisko raises $40M for exploration, other uses
TORONTO – Only hours after Osisko Mining launched a $30-million flow-through share offering, the company put out word that it also organized a $10-million bought deal private placement of common shares. The company will issue about 5.3 million flow-through shares…
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GOLD: Continental closes $25M private placement with Eric Sprott
COLOMBIA – Continental Gold of Toronto has closed a $25-million non-brokered private placement with Eric Sprott. The company issued approximately 10.6 new common shares. Continental says that Newmont Goldcorp has until July 12, 2019, to exercise its right to maintain…
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GOLD: Great Bear raises $11M in flow-through shares
ONTARIO – Vancouver-based Great Bear Resources has successfully closed a deal worth $10.9 million with which to continue exploration at its gold projects in this province. A consortium led by Cormark Securities and including Canaccord Genuity Corp. subscribe to 2.0…
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MERGER: Pala to acquire Cobalt 27, create Nickel 28
TORONTO – Cobalt 27 Capital Corp. has reached an agreement with Swiss-based Pala Investments whereby Pala will acquire 100% of Cobalt 27’s common shares. Cobalt 27 shareholders will receive $5.75 per share – $3.57 in cash and $2.28 in shares…
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GOLD: Great Bear raises $5.5 to stretch drilling to 90K metres
ONTARIO – Great Bear Resources of Vancouver is raising $5.5 million to extend its current drill program at the Dixie property to 90,000 metres. That is a 50% increase over the originally planned 60,000 metres. The money will be raised…
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DIAMONDS: Bridge loan gives Stornoway some breathing room
QUEBEC – Stornoway Diamond Corp. and its material subsidiaries have arranged bridge financing to keep the Renard mine operating while the company undertakes a strategic review with the aim of restructuring its finances. The Renard diamond project is the company’s…
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VENTURE CAPITAL: BDC launches $250M innovation fund
MONTREAL – BDC Capital, the investment arm of Canada’s only bank devoted exclusively to entrepreneurs, has pledged $250 million to an industrial innovation venture fund. The funds will be invested in tech companies and entrepreneurs transforming core Canadian business –…
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IRON ORE: Champion aims to acquire 100% of Bloom Lake following refinancing
QUEBEC – Champion Iron of Montreal wants to own 100% of the Bloom Lake iron ore project 400 km north of Sept-Iles. A subsidiary will pay partner Ressources Quebec, which holds a 36.8% interest on behalf of the provincial government,…
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BUYOUT: Barrick to buy out Acacia minority shareholders
TORONTO – Barrick Gold has indicated it is willing to buy out the minority shareholders of Acacia Mining if that is what it takes to resolve tax and environmental woes of Acacia in Tanzania. Barrick already holds 63.9% of Acacia’s…
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MERGER: Metso closes acquisition of HighService Service in Chile
SOUTH AMERICA – Metso has successfully completed its acquisition of HighService Service, the service division of the Chilean mining engineering, construction and technology company HighService Corp. HighService Service offers its customers a variety of services from maintenance to commissioning and remote…
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ACQUISITION: Australia’s St Barbara to acquire Atlantic Gold
Australian gold producer St Barbara (ASX: SBM) is acquiring 100% of Canadian gold producer Atlantic Gold (TSXV: AGB) in a deal valued at $802 million. St Barbara’s offer represents a 41.1% premium to Atlantic’s closing share price on May 14 and a 40.8% premium…
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EXPLORATION: Azimut and SOQUEM strike alliance
LONGUEUIL and VAL-D’OR, QUE. – Azimut Exploration and SOQUEM, a subsidiary of Ressources Québec have signed the final agreement of their expanded strategic alliance, previously announced on Feb. 25. The alliance comprises nine gold and copper-gold major properties totalling 7,149…
