Each one in plain English, with the numbers worked through for a shareholder.
12 June 2013capital raising announcement● NeutralMajor
On June 6, 2013 Uranerz agreed a $6 million note financing with investors managed by Deans Knight (the same firm that disclosed a 5.75% holding in Feb 2012), closed June 7. The senior notes pay 6% interest, rising to 10% from August 16, 2013 if not repaid by August 15, 2013, and are secured by a mortgage over its 100%-owned mineral interests, the Nichols Ranch processing facility and its product sales contracts. The investors also get 1,600,000 warrants at US$1.60 (1,200,000 exercisable now, 400,000 only if the notes are still outstanding after August 15, 2013), which could dilute shareholders. This is the company's first disclosed debt.
On July 28, 2010 the company agreed with Mountain West Mine, Inc. and Excalibur Industries to acquire a uranium exploration data library, paying with 2,000,000 warrants at US$3.00 for four years (500,000 exercisable at closing, then 500,000 each from July 1, 2011, 2012 and 2013, all expiring June 30, 2014). The press release calls it drill data for the Powder River Basin area. Excalibur was already an option counterparty on Powder River claims; this adds possible new shares if the warrants are exercised, and no cash is stated.
On April 15, 2010, 4,932,498 warrants exercisable at $3.50, issued in the April 2008 private placement, expired with none exercised. No money came in from them, and they no longer add to potential share count.
The company closed both private placements on April 15, 2008: US$9,600,000 for 4,000,000 units through agents Haywood and Cormark, and US$14,076,000 for 5,865,000 units, including 5,465,000 to Denison, who now holds about 9.9%. That is US$23,676,000 in total at US$2.40 per unit, with warrants at US$3.50 to April 15, 2010. Costs include a US$576,000 agents' commission, 120,000 agent warrants at US$2.60, and a US$524,640 advisory fee on the Denison money. The company must file a resale registration statement within 45 days or issue penalty units equal to 10% of the units bought in the brokered placement. This completes the March proposal and the Denison agreement.
31 Mar 2008capital raising announcement▲ GoodMajor
The company announced plans to raise about US$23,676,000 in private placements at US$2.40 per unit, covering 4,000,000 units sold through agents and 5,865,000 units sold directly, of which 5,465,000 would go to Denison Mines Corp. Each unit carries one share and a half warrant exercisable at US$3.50 for 24 months, and Denison would hold about 9.9% after closing. This is new funding that will add shares and warrants.
Amendment No. 3 sets the March placement at 7,245,000 units and $7,245,000 to 134 investors, with the offshore tranche at 4,490,000 units from 110 investors and 3,622,000 warrants stated. Commissions stay at $88,660 cash plus 185,750 units. The U.S. tranche still shows 2,755,000 units against $2,745,000 proceeds, so some inconsistency remains. It is the latest correction of the same March raise, not new money.
Amendment No. 2 changes the March placement total to 7,250,000 units and $7,250,000 (3,625,000 warrants), with the offshore tranche now 4,495,000 units. Cash commissions are restated to $88,660 plus 185,750 units. The U.S. tranche still shows 2,755,000 units but $2,745,000 proceeds, so the filing is internally inconsistent. It is a further correction of the earlier figures.
Amendment No. 1 to the March placement report corrects the U.S. tranche proceeds from $453,000 to $2,745,000 and raises the stated cash commissions from $73,659.98 to $788,660 (plus 178,750 units). Totals are unchanged at 7,140,000 units, $7,140,000 and 3,570,000 warrants. This fixes errors in the original filing rather than adding a new raise.
The company reported a March 3, 2006 private placement of 7,140,000 units at $1.00 each to 134 investors, for gross proceeds of $7,140,000. Each unit has one share and half a warrant (3,570,000 warrants), exercisable at $1.75 until March 3, 2007 and $2.50 until March 3, 2008. Commissions are 7 1/2% on part of the funds, and the filing states $73,659.98 cash plus 178,750 units paid. This is far larger and at a much higher price than the $0.40 raise in late 2005. The filing contradicts itself: it lists 2,745,000 units but only $453,000 proceeds for the U.S. tranche, which is likely an error corrected in later amendments (inference).
What it means for a shareholder
7.1m new shares at $1.00 to raise about $7.1m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
A small follow-on to the October raise: two investors bought 175,000 units at $0.40 for $70,000, with 87,500 warrants at $0.60 exercisable until November 17, 2006, and a 6% commission.
What it means for a shareholder
175,000 new shares at $0.400 to raise about $70,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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.
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.
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.
The company, then filing as Carleton Ventures Corp., said its board approved a private placement of up to 8,000,000 shares at US$0.10 per share. Proceeds were proposed for buying mineral property interests and general purposes; the filing says no property has been targeted and there is no assurance the financing will close.
What it means for a shareholder
8.0m new shares at US$0.100 to raise about US$800,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
