Past year: ▼ 13%(30.0c – 45.0c CAD)
Each one in plain English, with the numbers worked through for a shareholder.
19 Apr 2006capital raising announcement● NeutralMajor
NXT completed an initial closing of a private placement raising US$1,685,000 by issuing 1,685,000 units at US$1.00, each a share plus a two-year warrant to buy another share at US$2.00. It will pay commission of a further 131,200 units. Funds are for marketing SFD survey services, surveys, survey capacity, investor relations and general operating costs. This adds new shares and warrants for existing holders.
13 Dec 2005capital raising announcement▼ BadMajor
NXT corrected its Nov 7, 2005 filing: the notes were sold to 27 investors, not three, and its Sept 21 statement of an initial $1.35 million closing should have said commitments. A further closing on Dec 8, 2005 brought total notes sold to $1,975,000, including $213,600 of earlier loans from the CEO and a director. Each $1.00 invested also carries a special warrant leading to a warrant to buy a share at US$1.00. Full conversion would add 4,797,257 shares (22.5% of 21,359,104 outstanding), so potential dilution is larger than first reported.
7 Nov 2005capital raising announcement● NeutralMajor
On Nov 1, 2005 NXT sold Special Note Certificates with a face amount of US$1,421,667 to three private investors (total received $1,498,169), with $24,000 in commissions. The notes let holders buy 10%-interest, 18-month convertible secured debentures convertible at the lesser of $0.70 or 85% of the lowest price of any later share issue. If converted they would add 2,140,242 shares (10.03% of the 21,224,770 outstanding). Up to $2,000,000 is authorised, with $578,333 still on offer. Note: this filing was later corrected (see the Dec 13, 2005 amendment).
10 July 2003capital raising announcement● NeutralMajor
The company (then called Energy Exploration Technologies, NXT) said it plans a series of private placements over the next 12 to 18 months, expecting to net about US$10,000,000, with the first phase due early in the third quarter. The money is for diversifying assets in Canada and internationally. It also said it will market each SFD project individually (starting with South Adsett) rather than grant regional exclusive exploration agreements. For shareholders, new share issuance is likely; that is an inference, as the filing does not give pricing.
