8 Feb 2010securities registration● Neutral
Lake Victoria Mining Company, Inc. filed notice of an exempt private placement.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
5 Jan 2010capital raising announcement● NeutralMajor
By December 31, 2009 the company had sold 2,701,001 units (a share plus a warrant) for $1,620,600, and paid $45,900 in sales commissions to Dorn & Co. On December 31 it extended the Lupo consulting deal by 60 days with a 60-day probation, so share compensation is at the company's sole discretion. It also signed a consultant, Jack Everett, for $20,000 and 68,775 shares, and on January 4, 2010 a five-year finder's fee deal with The RAYA Group (10% of the first $10 million raised, 5% above). Roger Newell left the board of Capital Gold and joined Midway Gold's board.
8 Dec 2009material agreement● Neutral
On December 3, 2009 the company hired Robert Lupo and/or assignees for public relations and advisory services on a one-year term, with 300,000 restricted shares to be issued within 30 days. Either side can end it on 30 days' notice under certain conditions.
19 Nov 2009capital raising announcement● Neutral
This amendment corrects the November 6, 2009 filing: the shares issued for services were 1,906,250, not 1,876,250. The Reg. S portion (456,250) and the 1,450,000 other shares are unchanged, so the sum shown only works out to the corrected figure by the filing's own numbers.
16 Nov 2009late filing notice▼ Bad
Lake Victoria Mining Company, Inc. notified the SEC that its quarterly report would be filed late.
16 Nov 2009securities registration● Neutral
Lake Victoria Mining Company, Inc. amended a filing by which it filed notice of an exempt private placement.
10 Nov 2009capital raising announcement● Neutral
On November 6, 2009 the company issued 1,876,250 restricted shares to three persons or entities as payment for services. This adds to the share count without bringing in cash.
26 Oct 2009securities registration● Neutral
Lake Victoria Mining Company, Inc. amended a filing by which it filed notice of an exempt private placement.
23 Oct 2009securities registration● Neutral
Lake Victoria Mining Company, Inc. filed notice of an exempt private placement.
19 Aug 2009securities registration● Neutral
Lake Victoria Mining Company, Inc. filed notice of an exempt private placement.
17 Aug 2009business combination▲ GoodMajor
The Kilimanjaro deal closed on August 7, 2009: the company issued 37,653,549 restricted shares to 98 Kilimanjaro holders for 100% of Kilimanjaro, now a wholly owned subsidiary. Geo Can released all option payments owed under its property agreements, and Kilimanjaro handed back 9,350,300 company shares for cancellation. Former officers Lennox and Gamache also returned 1,000,000 shares for cancellation on August 17. Heidi Kalenuik's stake after the deal is listed at 15,436,000 shares (23.32%) and officers and directors as a group at 24.83%. Audited financial statements of Kilimanjaro are promised by October 21, 2009.
14 Aug 2009late filing notice▼ Bad
Lake Victoria Mining Company, Inc. notified the SEC that its quarterly report would be filed late.
14 July 2009material agreement● NeutralMajor
On July 8, 2009 the company signed the definitive share exchange to buy all of Kilimanjaro Mining Company for up to 37,653,549 restricted shares, with closing scheduled for July 23, 2009. Kilimanjaro holds 33 gold prospect licenses and would become a subsidiary. This firms up the June letter agreement.
29 June 2009late filing notice▼ Bad
Lake Victoria Mining Company, Inc. notified the SEC that its annual report would be filed late.
4 June 2009material agreement● NeutralMajor
On June 1, 2009 the company signed a binding letter agreement to acquire up to 100% of Kilimanjaro Mining Company through a share exchange, with a final agreement due by July 1, 2009. Kilimanjaro says it has taken over Geo Can's mineral properties, so the company's Geo Can option deals would fold into this deal. Kilimanjaro would return 9,350,300 of the company's shares for cancellation and unissued Geo Can shares would be forgiven; the exchange ratio runs from 1.0 to 2.0 company shares per Kilimanjaro share depending on how much of a $2 million private placement Kilimanjaro raises.
8 May 2009director interest notice● Neutral
Lake Victoria Mining Company, Inc. director Ahmed A Magoma received 10,000 shares and a 120,000-share option grant as part of the equity award.
28 Apr 2009director interest notice● Neutral
Lake Victoria Mining Company, Inc. President Roger Newell received 25,000 shares and a 840,000-share option grant as part of the equity award.
28 Apr 2009director interest notice● Neutral
Lake Victoria Mining Company, Inc. director Michele L Ashby received 10,000 shares and a 120,000-share option grant as part of the equity award.
27 Apr 2009director interest notice● Neutral
Lake Victoria Mining Company, Inc. President Roger Newell exercised stock options for 840,000 shares.
21 Apr 2009capital raising announcement● Neutral
On April 15, 2009 the board approved pay for officers and directors: options on restricted shares at $0.45 each (600,000 for Roger Newell and 480,000 for Heidi Kalenuik as officers, with further director options), small share issues of 10,000 to 25,000 shares each, and $3,000 per quarter for directors Magoma and Ashby. The options still need written agreements with vesting periods.
8 Apr 2009material agreement● NeutralMajor
On April 2, 2009 the company signed an option with Geo Can Resources to earn 80% of the Kinyambwiga Gold Project (license PL4653, 30.89 sq km). It must pay cash, issue restricted shares and set up a commercial gold mine of at least 100 tons per day within 15 months; the filing gives no payment amounts.
20 Feb 2009director interest notice● Neutral
Heidi Kalenuik became a Lake Victoria Mining Company, Inc. Secretary & Treasurer and company insider (initial ownership filing).
20 Feb 2009director interest notice● Neutral
Kilimanjaro Mining Company, INC. became a Lake Victoria Mining Company, Inc. 10%+ owner and company insider (initial ownership filing).
11 Feb 2009director interest notice● Neutral
Ahmed A Magoma became a Lake Victoria Mining Company, Inc. director and company insider (initial ownership filing).
27 Jan 2009material agreement● Neutral
On January 21, 2009 the company signed an option with Geo Can Resources to earn 50% of the Geita Gold Project (license PL2806, 43.77 sq km), with options to reach up to 75%. It must make cash payments, issue shares and meet first-year minimum exploration spending, but the filing gives no amounts. This is the third Geo Can property deal.
20 Jan 2009director interest notice● Neutral
Michele L Ashby became a Lake Victoria Mining Company, Inc. director and company insider (initial ownership filing).
16 Jan 2009director interest notice● Neutral
Joshua M Summerland became a Lake Victoria Mining Company, Inc. 10%+ owner and company insider (initial ownership filing).
16 Jan 2009director interest notice● Neutral
Michele L Ashby became a Lake Victoria Mining Company, Inc. director and company insider (initial ownership filing).
30 Dec 2008director interest notice● Neutral
Roger Newell became a Lake Victoria Mining Company, Inc. President and company insider (initial ownership filing).
24 Dec 2008material agreement● Neutral
On December 22, 2008 the company signed a second option deal with Geo Can Resources, for a 90% interest in an option Geo Can holds with State Mining Corporation over two Tanzanian licenses (PL 4339/2006 and PL 2576/2004). The filing gives no dollar amounts, saying only that the company must issue shares, pay money and expenses, and do assessment work, and that a net smelter royalty applies.