Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
The company said it now has an agreement with Echelon Wealth Partners Inc. and Canaccord Genuity Corp., as co-lead underwriters, to purchase about 11.5 million units at 70 cents each.
Each unit includes one common share and one-half of one common share purchase warrant exercisable at a price of 95 cents for 24 months.
The stock closed at 86 cents on Monday. It was down 15 per cent at 73 cents at midday Tuesday after coming off a trading halt.
The company said it intends to use the net proceeds for capital expenditures and general corporate purposes.
Caldas Gold Corp. (CGC-X) announced a $45-million bought-deal private placement of special warrants.
It has an agreement with Scotiabank and Canaccord Genuity Corp., as co-lead underwriters and on behalf of a syndicate of underwriters, to purchase 20 million special warrants for $2.25 each. The stock closed at $2.71 on Monday.
The company said Wheaton Precious Metals Corp.‘s wholly owned subsidiary, Wheaton Precious Metals International Ltd., will subscribe for up to $5-million of the offering “further demonstrating Wheaton’s support and commitment to Caldas Gold’s expansion of the Marmato Project.”
Nevada Copper Corp. (NCU-T) announced a $97-million bought-deal public offering.
The company said it has an agreement with Scotiabank, on behalf of a syndicate of underwriters to buy 643.7 million units at 15 cents each. The stock closed at 18.5 cents on Monday, before being halted.
Each unit includes one common share and one-half of one common share purchase warrant entitling the holder to purchase one common share at a price of 20 cents each for 18 months.
The company said the net proceeds will be used to fund its operations and repay debt.
Nevada Copper also said it intends to apply to the TSX for a “financial hardship” exemption from the requirements to obtain shareholder approval of the offering “on the basis that absent the offering the company is in serious financial difficulty due to the lack of available cash and funding resources.”
It said the offering is “designed to improve the company’s financial situation.”
Karora Resources Inc. (KRR-T), previously known as RNC Minerals Corp., announced that Eric Sprott has agreed to increase his ownership in the company by 26 million shares.
Karora said it will use the proceeds from a total of 36.5 million common shares to be issued to Eric Sprott and one other institutional investor to complete the previously announced Maverix Metals transaction with an all-cash consideration of US$18-million. It said the shares will be issued at the same $0.506 price per share that had been agreed with Maverix.
"I am very excited that Eric Sprott, a highly influential and well-known leader in the resource investment community and one of the world's premier gold and silver investors, has significantly increased his investment in Karora," stated Paul Andre Huet, chairman and CEO of Karora. "This investment is a strong endorsement of the confidence Mr. Sprott has in both our execution over the past year and our plans to unlock the value of our Western Australian gold mining assets."
Score Media and Gaming Inc. (SCR-X) announced that its subsidiary, Score Digital Sports Ventures Inc., has obtained Gaming Laboratories International GLI-33 certification for its mobile sports betting app and the sportsbook player account management platform it plans to deploy in Colorado.
“This is yet another significant milestone towards the multi-state expansion of theScore Bet, coming just days after we also secured GLI-33 certification for Indiana,” stated John Levy, founder and CEO of theScore. “We can’t wait to bring theScore Bet to Colorado and showcase the uniquely integrated media and gaming experience our team has created.”
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