12 Aug 2021quarterly activities report▼ Bad
DAKOTA TERRITORY RESOURCE CORP reported a quarterly net loss of $12.2 million for the period ended 2021-06-30.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
3 Aug 2021capital raising announcement▲ GoodMajor
The final tranche of the private placement closed August 2, 2021: 120,550 shares at $4.50 for $542,475. The total is 11,166,161 shares for gross proceeds of $50,247,724.50. This ends the financing. The filing reports the second tranche as 8,734,611 shares for $39,305,749.50, slightly different from the 8,725,389 shares and $39,264,251 in the July 21 filing; the filing does not explain the difference.
What it means for a shareholder
120,550 new shares at $4.50 to raise about $542,475. That's 0.2% dilution: every existing holder's slice gets 0.2% smaller. If you held $1,000 of shares (222 at the issue price), your slice goes from 0.000369% to 0.000368% of the company. To keep it you'd need 0 more shares - about $0 at the issue price.
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22 July 2021director interest notice● Neutral
DAKOTA TERRITORY RESOURCE CORP director Robert Quartermain acquired 50,000 shares at $4.50 under a company stock plan.
21 July 2021capital raising announcement▲ GoodMajor
The second tranche of the private placement closed on July 21, 2021, with 8,725,389 shares sold at $4.50 for $39,264,251. With the first tranche, 11,036,389 shares have been sold for $49,663,750.50, already above the $45 million announced in June. Director Robert Quartermain bought 50,000 shares. A final tranche is expected by July 30.
What it means for a shareholder
8.7m new shares at $4.50 to raise about $39.3m. That's 13% dilution: every existing holder's slice gets 13% smaller. If you held $1,000 of shares (222 at the issue price), your slice goes from 0.000369% to 0.000322% of the company. To keep it you'd need 32 more shares - about $144 at the issue price.
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25 June 2021capital raising announcement▲ GoodMajor
The first tranche of the private placement closed on June 23, 2021: 2,311,000 shares at $4.50 for gross proceeds of $10,399,500. On June 24 the company increased the maximum offering from 5,555,556 shares to 10,000,000 shares, or up to $45 million, with closing expected around July 9. This continues the June 15 financing.
What it means for a shareholder
2.3m new shares at $4.50 to raise about $10.4m. That's 3.8% dilution: every existing holder's slice gets 3.8% smaller. If you held $1,000 of shares (222 at the issue price), your slice goes from 0.000384% to 0.000369% of the company. To keep it you'd need 9 more shares - about $41 at the issue price.
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21 June 2021director interest notice● Neutral
Shawn Campbell became a DAKOTA TERRITORY RESOURCE CORP Chief Financial Officer and company insider (initial ownership filing).
16 June 2021capital raising announcement▲ GoodMajor
On June 15, 2021 the company announced a planned non-brokered private placement of up to 5,555,556 shares at $4.50 each, for up to $25 million, expected to close by July 9, 2021. Proceeds are to go to general working capital and exploration of its gold properties. Existing shareholders face dilution if it completes in full (inference).
What it means for a shareholder
5.6m new shares at $4.50 to raise about $25.0m. That's 9.0% dilution: every existing holder's slice gets 9.0% smaller. If you held $1,000 of shares (222 at the issue price), your slice goes from 0.000395% to 0.00036% of the company. To keep it you'd need 22 more shares - about $99 at the issue price.
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10 June 2021director interest notice● Neutral
DAKOTA TERRITORY RESOURCE CORP Chief Operating Officer Gerald Michael Aberle acquired 170,563 shares at $2.19 under a company stock plan.
8 June 2021director interest notice● Neutral
DAKOTA TERRITORY RESOURCE CORP director Stephen T. O'rourke received 187,500 shares as part of the equity award.
8 June 2021director interest notice● Neutral
DAKOTA TERRITORY RESOURCE CORP President & CEO Jonathan T. Awde received a stock option grant for 350,000 shares.
8 June 2021director interest notice● Neutral
DAKOTA TERRITORY RESOURCE CORP director Alex G Morrison received 112,500 shares as part of the equity award.
8 June 2021director interest notice● Neutral
DAKOTA TERRITORY RESOURCE CORP director Robert Quartermain received 375,000 shares as part of the equity award.
20 May 2021director interest notice● Neutral
DAKOTA TERRITORY RESOURCE CORP director Alex G Morrison received a stock option grant for 735,000 shares.
20 May 2021director interest notice● Neutral
DAKOTA TERRITORY RESOURCE CORP Chief Operating Officer Gerald Michael Aberle received a stock option grant for 1,100,000 shares.
19 May 2021director interest notice● Neutral
DAKOTA TERRITORY RESOURCE CORP insider Richard Lynn Bachman sold 200,000 shares at $1.24.
19 May 2021director interest notice● Neutral
DAKOTA TERRITORY RESOURCE CORP director Stephen T. O'rourke received a stock option grant for 1,100,000 shares.
18 May 2021director interest notice● Neutral
DAKOTA TERRITORY RESOURCE CORP President & CEO Jonathan T. Awde received a stock option grant for 1,550,000 shares.
18 May 2021director interest notice● Neutral
DAKOTA TERRITORY RESOURCE CORP director Robert Quartermain received a stock option grant for 1,100,000 shares.
14 May 2021business combination● NeutralMajor
On May 14, 2021 the company agreed to a merger with its largest shareholder JR Resources through a new company (NewCo, to be renamed Dakota Gold Corp.). Other Dakota Territory shareholders get one NewCo share per share held, and JR shareholders get NewCo shares based on their percentage of JR times the 142,566,667 Dakota Territory shares JR owns. The deal needs approval from both companies' shareholders and an S-4 registration with the SEC. Separately, the board approved a 1-for-4 reverse split effective May 25, 2021, cutting shares from 224,789,323 to about 56,197,331 and authorized shares from 300 million to 75 million, with ownership percentages largely unchanged. Awde and Quartermain abstained from the merger vote because of their interests in JR.
11 May 2021director interest notice● Neutral
DAKOTA TERRITORY RESOURCE CORP insider Richard Lynn Bachman sold 999,999 shares at $0.76.
5 May 2021director interest notice● Neutral
Robert Quartermain became a DAKOTA TERRITORY RESOURCE CORP director and company insider (initial ownership filing).
5 May 2021director interest notice● Neutral
Jonathan T. Awde became a DAKOTA TERRITORY RESOURCE CORP President & CEO and company insider (initial ownership filing).
14 Apr 2021director interest notice● Neutral
DAKOTA TERRITORY RESOURCE CORP insider Richard Lynn Bachman sold 994,199 shares at $0.50.
15 Mar 2021business combination● NeutralMajor
JR Resources completed its final purchase on March 12, 2021, buying 72,900,000 more shares for $10,935,000 at $0.15 each. This takes JR to about 63.42% of the 224,789,323 shares outstanding and is a change of control. It resolves the open question of whether JR would use its purchase right: the first closing in October 2020 was 69,666,667 shares for $10,450,000, and JR's total is now 142,566,667 shares, the full maximum. Jonathan Awde (a JR affiliate) became CEO and Gerald Aberle moved to chief operating officer. Richard Bachman resigned as an officer and will step down as a director about 10 days after this statement is mailed, with Awde and Robert Quartermain joining the board.
11 Feb 2021quarterly activities report▼ Bad
DAKOTA TERRITORY RESOURCE CORP reported a quarterly net loss of $1.3 million for the period ended 2020-12-31.
8 Jan 2021material agreement● Neutral
On January 4, 2021 the company bought an office building at 141 Glendale Dr., Lead, South Dakota, for cash of about $755,000 (including furniture, fixtures and other property) to be its new corporate headquarters. The company's address moves from Reno, Nevada to Lead, South Dakota, near its Black Hills gold properties.
7 Dec 2020director interest notice● Neutral
DAKOTA TERRITORY RESOURCE CORP Chief Geological Officer Richard Lynn Bachman sold 156,250 shares at $0.48.
25 Nov 2020director interest notice● Neutral
DAKOTA TERRITORY RESOURCE CORP director Alex G Morrison bought 156,250 shares on the open market at $0.48.
23 Nov 2020director interest notice● Neutral
DAKOTA TERRITORY RESOURCE CORP director Alex G Morrison bought 35,000 shares on the open market at $0.54.
19 Nov 2020director interest notice● Neutral
DAKOTA TERRITORY RESOURCE CORP director Alex G Morrison bought 15,000 shares on the open market at $0.50.