Each one in plain English, with the numbers worked through for a shareholder.
4 Nov 2005material agreement● Neutral
The company signed investor-relations contracts: Highlands Capital for one year at US$5,000 a month plus 200,000 shares, and Accent Marketing (Germany) for three months at $6,000 a month plus 100,000 restricted shares. These are ongoing costs and further share issuances.
18 Oct 2005capital raising announcement▲ GoodMajor
The company raised $2,098,000 selling 5,245,000 units at $0.40 to 81 investors. Each unit has one share and half a warrant, giving 2,622,500 warrants exercisable at $0.60 until October 17, 2006; a 6% commission is paid on part of the funds. This is a much larger raise, at a higher price, than the April $0.10 placement, and the warrants could add shares later.
What it means for a shareholder
5.2m new shares at $0.400 to raise about $2.1m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
The company updated its holdings: seven Mongolian licences (about 268,724 hectares), eight in total including Khavtsal, and 31 Wyoming state lease parcels totalling 14,200 acres. It also staked 140 federal mining claims (43 in the Red Desert, 97 in the Powder River Basin), and says it has no detailed geology on the claims or leases.
4 Oct 2005material agreement termination● NeutralMajor
The company reported six Mongolian exploration licences (about 266,166 hectares) and Wyoming state mineral leases on 30 parcels (13,560 acres), with one more 640-acre application pending. It also let its 14 Mint claims on the Burner Hills property in Elko County, Nevada lapse, saying the property no longer met its criteria. This expands the Mongolia thread begun in June and shows the company adding Wyoming holdings, with the leases still partly held in names of Catchpole, Hartman or Carleton Ventures.
Now named Uranerz Energy Corporation, the company issued 3,775,000 restricted shares at $0.001 each ($3,775 total) to ten officers, directors and advisory board members as compensation for their roles. This adds shares for insiders at a very low price.
President Glenn Catchpole bought a 100% interest in the Khavtsal exploration licence in Mongolia (16,091 hectares) for $105,945, with no further payments or work commitments after closing. The licence is held in his name because the company had no Mongolian subsidiary yet; the filing says he is intended to transfer it to a subsidiary to be formed.
The company agreed to buy 100% of two mineral exploration properties in the Athabasca Basin, Northern Saskatchewan, for CDN $40,756.95 cash. The seller, Ubex Capital, is wholly owned by director Dennis Higgs and keeps a 2% royalty, split with Darcy Higgs, a greater-than-5% shareholder, so this is a related-party deal. This follows the April placement and begins the company's mineral property holdings.
Carleton Ventures completed the private placement announced in March: 6,959,500 shares at $0.10 for $695,950 from 21 investors, below the 8,000,000-share maximum. Of these, 2,704,500 shares ($270,450) went to directors, an officer and a greater-than-10% shareholder, including CEO Glenn Catchpole (50,000 shares) and director Dennis Higgs (1,049,500 shares).
What it means for a shareholder
7.0m new shares at $0.100 to raise about $695,950. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.