Each one in plain English, with the numbers worked through for a shareholder.
10 Aug 2007capital raising announcement● Neutral
This amendment adds terms to the August 7, 2007 placement: each unit has one share and one warrant (Cdn$1.00 in year one, Cdn$1.25 after, two-year term). Dealers received Cdn$152,040 in commissions and warrants over 265,050 shares at Cdn$0.83 for up to 9 months. It adds detail only; the amount raised is unchanged.
What it means for a shareholder
265,050 new shares at C$0.830 to raise about C$152,040. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
7 Aug 2007capital raising announcement● NeutralMajor
Gryphon closed a private placement of 5.0 million units at C$0.80 each for C$4.0 million, a lower price than the C$0.90 placement in February 2007. This initial notice gives only the headline numbers; an amended filing three days later adds the terms.
What it means for a shareholder
5.0m new shares at C$0.800 to raise about C$4.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
On July 4, 2007 Gryphon agreed to buy Nevada Eagle Resources LLC from Gerald and Fabiola Baughman for $2.5 million cash, 4,500,000 shares and a $5 million 5% convertible note due March 30, 2010. Closing was due by September 15, 2007 subject to conditions, including Mr. Baughman becoming Vice President of Corporate Development. The note is the debt later extended in 2010.
15 Feb 2007capital raising announcement● NeutralMajor
Gryphon closed a private placement of 5.0 million units at C$0.90 for C$4.5 million. Each unit has one share and one warrant (C$1.10 in the first year, C$1.35 after, two-year term). A 7% cash commission of C$77,175 and options over 85,050 shares were paid on part of the units. The price is below the C$1.25 paid in March 2006, and the new shares and warrants dilute existing holders. The filing also references a quarterly results release for the period to December 31, 2006, with no figures given.
What it means for a shareholder
5.0m new shares at C$0.900 to raise about C$4.5m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
On April 4, 2006 the board approved stock options at $1.37: 75,000 for new Controller Rajwant Kang, 20,000 for an investor-relations firm (Dynamic Stock Market Analysis), and 1,475,000 for directors, officers and employees. It also approved raising the option plan from 3,000,000 to 6,000,000 options. The grants and the plan increase need shareholder approval at the next annual meeting.
24 Mar 2006capital raising announcement● NeutralMajor
Gryphon closed a private placement of 5,475,000 units at Cdn$1.25 each, raising Cdn$6,843,750. Each unit has one share and one-half of a Class B warrant (Cdn$1.65 per share, until March 23, 2007), so shareholders face dilution. Agents get commissions of up to 7% plus Class C warrants for 280,500 shares at Cdn$1.40. This follows the February 2006 prospectus offering.
What it means for a shareholder
5.5m new shares at C$1.25 to raise about C$6.8m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
