Past year: ▼ 65%(4.71c – 28.5c USD)
Each one in plain English, with the numbers worked through for a shareholder.
19 June 2017capital raising announcement● Neutral
On June 15, 2017 the company issued 2,475,000 restricted shares to IPP Gold Ltd. at a deemed $0.12 to settle $297,000 of debt owed to it, so no cash was raised. IPP Gold was the counterparty to the September 2010 property acquisition agreement; the filing does not say how the debt arose. Debt falls but share count rises.
23 Jan 2013capital raising announcement▼ Bad
On January 22, 2013 the company, now named Handeni Gold Inc., closed a private placement of 13,000,000 shares at $0.05 to three investors for $650,000 gross. The price is far below the $0.45 units of March 2011, and the filing does not state how the money will be used.
31 Mar 2011capital raising announcement▲ GoodMajor
The company completed a three-tranche private placement (March 11 to 29, 2011) selling 27,173,372 units at $0.45, for $12,228,017 gross and $11,439,635 net after $788,382 of fees. Each unit has a share and a warrant at $0.52 (18 or 30 months), and 1,243,045 finder's warrants were also issued. Proceeds go to Tanzanian exploration and working capital; this is a much larger raise than the 2008 to 2010 placements, with more shares and warrants outstanding.
What it means for a shareholder
27.2m new shares at US$0.450 to raise about US$12.2m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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1 Oct 2010capital raising announcement▼ BadMajor
On September 30, 2010 the company issued 16,666,667 restricted shares at a deemed $0.15 each ($2,500,000 deemed) to one non-U.S. person as a transaction fee linked to a mineral property acquisition agreement with IPP Gold Limited signed September 21, 2010. The filing gives no detail on the property itself. The share issue dilutes existing holders.
27 Aug 2010capital raising announcement▼ Bad
On August 23, 2010 the company issued 6,000,000 restricted shares to four non-U.S. persons on a cashless exercise of stock options at a deemed price of $0.05 per share (deemed total $300,000). The filing does not say cash was received; the extra shares dilute existing holders.
22 Oct 2008capital raising announcement● Neutral
On October 15, 2008 the company (then Douglas Lake Minerals) closed a private placement of 5,000,000 shares at $0.20 each, raising $1,000,000 gross. Proceeds are for its Tanzanian gold project, other exploration and development, land and project acquisitions and general corporate purposes. This follows the August 2008 placement at lower prices and adds new shares for existing holders to share the company with.
What it means for a shareholder
5.0m new shares at US$0.200 to raise about US$1.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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20 Aug 2008capital raising announcement● NeutralMajor
On August 15, 2008 the company closed a non-brokered private placement of 6,666,680 shares at $0.15 plus units of shares with half a one-year warrant each: 1,000,000 at $0.10, 2,000,000 at $0.15, 1,462,500 at $0.20 and 187,500 at $0.40. Proceeds are for Tanzanian resource acquisition, exploration and development and working capital. The filing gives no total raised. The prices, far below the $0.70 of January 2007, are lower than that earlier raise.
31 Jan 2007capital raising announcement● NeutralMajor
Effective January 23, 2007 the company raised $1,484,200 by issuing 2,120,277 shares at $0.70, with no finder's fees. On the same date it issued 11,650,000 shares under sale and purchase agreements from November 2006 for asset purchases; the filing refers to a 10-QSB for details and does not say what the assets are. Share count rose by about 13.8 million, diluting existing holders.
What it means for a shareholder
2.1m new shares at US$0.700 to raise about US$1.5m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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20 Oct 2005capital raising announcement● Neutral
The company sold 1,322,332 shares at $0.30 on October 17, 2005 for $396,699.60 before expenses, with no finder's fee. Proceeds are for working capital and general purposes. Of these, 1,127,666 shares went to 33 non-US holders and 194,666 to three US accredited investors, so existing holders were diluted.
14 Jan 2005capital raising announcement● Neutral
An amendment to the December 2004 share sale filing that only attaches the form of subscription agreement and the December 7, 2004 offering memorandum. No new figures or terms are given.
23 Dec 2004capital raising announcement● Neutral
The company (filing here as Douglas Lake Minerals Inc.) sold 945,400 shares in a private placement on December 22, 2004 at $0.25 per share, raising $236,350 before expenses, with no finder's fee. Proceeds are for working capital and general corporate purposes. Existing shareholders were diluted by the new shares.
