12 June 2017capital raising announcement● Neutral
A second filing furnishing the same material change report for the 1 June closing of the $17.25 million bought deal; it adds nothing to the report filed ten days earlier.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
2 June 2017capital raising announcement▲ GoodMajor
Closed the bought deal at $17,251,150 for 9,857,800 units - the underwriters took their full option, so the raise came in above the $15.0 million announced in May. Underwriters were paid $1,035,069 and 295,734 warrants. This is the largest financing in the cached record and leaves the company funded through permitting.
What it means for a shareholder
9.9m new shares at about C$1.52 to raise about C$15.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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8 May 2017capital raising announcement▲ GoodMajor
Agreed a $15.0 million bought-deal placement with Sprott Capital Partners and Cormark Securities as co-leads: 8,572,000 units at $1.75 with half-warrants at $2.45 for three years, plus an option for 1,285,800 more units. The first underwritten financing in the record, and at a price above every raise since 2013.
What it means for a shareholder
8.6m new shares at C$1.75 to raise about C$15.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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9 Mar 2017capital raising announcement▲ Good
Closed a $3.4 million placement of 2,519,407 units at $1.35, with half-warrants at $2.00 to August 2019 and $88,630 of finder fees. The price is back up from $0.75 in late 2015, and for the first time in the record no insider took part.
What it means for a shareholder
2.5m new shares at C$1.35 to raise about C$3.4m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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23 Nov 2015capital raising announcement▼ BadMajor
Raised $3.38 million placing 4,506,666 units at $0.75 - a 40% cut from February's $1.25 and less than half the price of the 2013 raise - with warrants at $1.00 to November 2017; Chairman Duane Poliquin took 100,000 units. Part of the money covers near-term payments on an option over the Rock Creek mill, a second-hand plant the company had secured in October.
What it means for a shareholder
4.5m new shares at C$0.750 to raise about C$3.4m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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13 Feb 2015capital raising announcement● Neutral
Formal material change report for the 11 February placement of 4,420,000 units at $1.25, restating the terms and the insider participation.
What it means for a shareholder
4.4m new shares at C$1.25 to raise about C$5.5m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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11 Feb 2015capital raising announcement● Neutral
Raised $5,525,000 by placing 4,420,000 units at $1.25, down from $1.50 six months earlier, with half-warrants at $2.00 for a year; fees were $212,626 and 49,410 warrants. Chairman Duane Poliquin, 10%-plus holder Ernesto Echavarria and officer Douglas McDonald took 454,000 units between them. Proceeds go towards the pre-feasibility study.
What it means for a shareholder
4.4m new shares at C$1.25 to raise about C$5.5m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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1 Aug 2014capital raising announcement● Neutral
Closed the $6.0 million placement at $1.50 a unit, with Secutor Capital taking $107,400 and 48,000 warrants as finder. Chairman Duane Poliquin, directors Joseph Montgomery and Barry Smee, and 10%-plus holder Ernesto Echavarria took a combined 465,299 units, a related-party participation exempt from valuation and minority approval because it stayed under a quarter of market capitalisation.
18 July 2014capital raising announcement● Neutral
Launched a non-brokered placement of up to 4,000,000 units at $1.50, each with half a warrant exercisable at $2.00 for a year, to fund engineering studies and exploration. The price is up from the $1.25 raise of July 2013.
What it means for a shareholder
4.0m new shares at C$1.50 to raise about C$6.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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18 July 2013capital raising announcement● NeutralMajor
Raised $5.47 million by placing 4,376,000 units at $1.25 with a small group of Mexico-focused strategic investors, each unit carrying a warrant exercisable at $1.50 to January 2015 and $1.80 thereafter; finders took $232,500 and 186,000 warrants. The first equity raise in the cached record, six months after the maiden resource.
What it means for a shareholder
4.4m new shares at C$1.25 to raise about C$5.5m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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