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BeMetals Closes Upsized Flow-Through Financing
Accessnewswire· 2025-10-24 21:00
Core Viewpoint - BeMetals Corp. has successfully closed a non-brokered private placement, raising C$848,840 through the issuance of flow-through shares to fund exploration activities at the Savant Gold Project in Ontario, Canada [1][2]. Group 1: Financing Details - The private placement involved the issuance of 12,126,284 common shares at a price of $0.07 per share, resulting in gross proceeds of C$848,840 [1]. - The funds raised will be allocated to incur Qualifying Expenditures related to the Savant Gold Project, which are defined under the Income Tax Act (Canada) [2]. - The securities issued are subject to a hold period that expires on February 25, 2026 [3]. Group 2: Management Commentary - Interim CEO Kristen Reinertson expressed satisfaction with the progress at the Savant Gold Project, highlighting the completion of initial reconnaissance mapping and sampling [2]. - A high-resolution airborne magnetics survey is planned for the fall, with follow-up exploration campaigns scheduled for spring 2026 to refine target areas for future drilling [2]. Group 3: Related Party Transactions - Certain directors of BeMetals subscribed for 1,785,000 flow-through shares, contributing gross proceeds of $124,950, which qualifies as a related party transaction [4]. - The company is relying on exemptions from formal valuation and minority shareholder approval requirements under Multilateral Instrument 61-101 [4]. Group 4: Company Overview - BeMetals is focused on the exploration and development of precious and base metals, with a portfolio that includes the Savant Gold Project and the Pangeni Copper Project in Zambia [5]. - The company is affiliated with B2Gold Corp., which owns approximately 24% of BeMetals' outstanding shares [5]. - The Savant Gold Project is located in a prolific gold-producing region of Canada, with plans for further exploration and potential strategic acquisitions [5].
Wilton Resources Inc. Announces Closing of Private Placement Financing
Newsfile· 2025-10-17 00:51
Core Points - Wilton Resources Inc. closed a non-brokered private placement of units at a price of $0.35 per unit, raising total gross proceeds of $782,669.90, which will be used for general corporate purposes and to pursue the acquisition of an international oil and gas property [1][5] Group 1: Offering Details - Each unit consists of one common share and one common share purchase warrant, with the warrant allowing the purchase of one common share at an exercise price of $0.45 for 12 months [2] - A finder's fee of 7.0% was paid to Haywood Securities Inc. for the proceeds raised, along with 16,030 non-transferable finder's warrants, each exercisable at $0.45 for 12 months [3] Group 2: Regulatory and Compliance Information - The securities issued will be subject to a statutory hold period of four months plus one day, expiring on February 17, 2026 [4] - Insiders purchased a total of 142,857 units, which is classified as a related party transaction, and the corporation relied on exemptions from formal valuation and minority approval requirements [5]
Pacific Empire Closes Second Tranche of Private Placement and Announces Arrival of Omineca Drilling at Trident
Newsfile· 2025-10-15 11:30
Core Viewpoint - Pacific Empire Minerals Corp. has successfully closed the second tranche of its private placement and is set to commence diamond drilling at its Trident Copper-Gold Project, marking a significant milestone in the company's exploration efforts [1][4][6]. Funding and Financials - The second tranche of the private placement raised gross proceeds of C$140,702, bringing the total raised to C$1,526,991.95 [2]. - Finder's fees for both tranches totaled C$56,611.94 in cash and 1,539,984 finder warrants [3]. Drilling Program - Omineca Drilling Ltd. has arrived at the Trident camp, with diamond drilling set to begin, involving five holes totaling approximately 2,500 meters [4]. - The drilling program is fully permitted and aims to test both porphyry and breccia targets that have never been drilled before [4][14]. Geological Context - The targets are located along the contact between the Hogem Plutonic Suite and the Chuchi Lake volcanic succession, a geological setting known for hosting numerous copper-gold porphyry deposits in British Columbia [5]. - Historical exploration has identified nearly 80 drill holes south of the creek, but the newly permitted northern area has never been drilled, making it a high-priority target [9][13]. Strategic Importance - The Trident drill program is timely, coinciding with increasing global copper demand driven by electrification and electric vehicle adoption [14]. - The combination of historical mineralization, geophysical and geochemical anomalies, and newly permitted access to previously untested targets presents a unique discovery opportunity [15]. Company Overview - Pacific Empire is a copper exploration company based in Vancouver, British Columbia, with a district-scale land position totaling 22,541 hectares [22]. - The Trident property is an early exploration stage property with significant potential, located approximately 50 km from major copper-gold deposits [17].
Midnight Sun Announces Upsize to Previously Announced “Bought Deal” LIFE Offering and Private Placement of Units to C$17.5 Million
Globenewswire· 2025-10-03 12:38
Core Viewpoint - Midnight Sun Mining Corp. has increased the size of its previously announced "bought deal" LIFE offering to C$17.5 million, indicating strong investor interest and confidence in the company's exploration projects in Zambia [1][2]. Offering Details - The Upsized Offering will consist of 12,963,000 units priced at C$1.35 per unit, generating gross proceeds of C$17,500,050 [2]. - Each unit includes one common share and one-half of a common share purchase warrant, with each whole warrant allowing the purchase of one common share at C$2.00 for 24 months [3]. - The Underwriters have an option to purchase an additional 15% of the offering, potentially raising an extra C$2,625,007.50 [4]. Use of Proceeds - The net proceeds from the offering will be allocated to advancing exploration projects in Zambia and for general corporate purposes [4]. Regulatory and Compliance Information - The offering will be available to purchasers in all Canadian provinces except Québec, with specific resale restrictions based on the type of exemption utilized [5]. - The closing of the Upsized Offering is anticipated on or about October 28, 2025, subject to necessary approvals from the TSX Venture Exchange and regulatory authorities [7]. Compensation to Underwriters - The company will pay the Underwriters a cash commission of 6.0% of the gross proceeds and issue transferable compensation options equivalent to 6.0% of the total units sold [8]. Company Overview - Midnight Sun is focused on its flagship Solwezi Project in Zambia, located in a major copper-producing region, aiming to discover and develop significant copper deposits [11].
Midnight Sun Announces C$10 Million “Bought Deal” Life Offering and Private Placement of Units
Globenewswire· 2025-10-02 19:59
Core Viewpoint - Midnight Sun Mining Corp. has announced a bought deal financing agreement to raise C$10,000,800 through the sale of 7,408,000 units at C$1.35 per unit, with the offering expected to close around October 28, 2025 [1][6]. Group 1: Offering Details - Each unit consists of one common share and one-half of a common share purchase warrant, with each whole warrant allowing the purchase of one common share at C$2.00 for 24 months [2]. - The underwriters have an option to purchase an additional 15% of the offering, potentially raising up to C$1,500,120 [3]. - The net proceeds will be allocated to advancing exploration projects in Zambia and for general corporate purposes [3]. Group 2: Regulatory and Compliance Information - The offering will be available to purchasers in all Canadian provinces except Québec, with specific resale restrictions based on the type of exemption used [4]. - The offering is subject to necessary approvals, including conditional listing approval from the TSX Venture Exchange [6]. Group 3: Company Background - Midnight Sun is focused on exploring the Solwezi Project in Zambia, located in a significant copper-producing region, surrounded by major copper mines [10].
MineHub Enters Scrap Metals Market with Strategic Acquisition of Jules AI, Creating Comprehensive End-to-End Digital Platform for Primary and Recycled Metals
Newsfile· 2025-09-25 11:00
Core Insights - MineHub Technologies Inc. has signed a definitive asset purchase agreement to acquire Jules AI, enhancing its digital supply chain solutions for the commodity markets [2][5] - The acquisition positions MineHub in the growing US$1 trillion recycled materials and scrap metals market, with Jules AI's platform processing nearly 2 million metric tons of scrap materials in 2024 [5][10] - The combined platform aims to deliver integrated solutions across the metals value chain, enhancing transparency and resilience in global supply chains [4][7] Company Overview - MineHub is a leading provider of digital supply chain solutions, focusing on making raw material supply chains more efficient, resilient, and sustainable [21] - Jules AI specializes in automating commodity and trade risk management for recycled and industrial commodities traders, streamlining workflows and enhancing operational efficiency [3][20] - The acquisition will allow MineHub to support all logistics types and pricing methods, transitioning customers to AI-driven systems of execution [8][10] Market Context - The recycled metals sector, including aluminum, copper, lithium, and steel, is projected to grow at a 7.1% CAGR from US$75.5 billion in 2025 to US$149.9 billion by 2035 [10] - Recycled metals are critical for high-value industries such as electric vehicles, construction, aerospace, and electronics, contributing to decarbonization efforts [11][10] - The acquisition aligns with global shifts towards sustainable practices and regulatory adaptations in industries reliant on recycled materials [11][10] Transaction Details - The acquisition is structured with a three-year earnout based on cumulative revenue targets, with an upfront payment of US$1.9 million and a potential earnout of US$18.1 million [8][9] - MineHub shares will be issued at a deemed price of C$0.74 per share, with resale restrictions extending up to 37 months [17][8] - The transaction is expected to close within 90 days, pending regulatory approvals [9]
ReconAfrica Announces Upsize of Underwritten Offering to C$18 Million for the Advancement of Operational Activities on its Ngulu Block, Offshore Gabon, and Provides a Drilling Update on the Kavango West 1X Exploration Well
Newsfile· 2025-09-19 16:26
Core Viewpoint - ReconAfrica has announced an increase in its underwritten offering to C$18 million due to strong investor demand, aimed at advancing operational activities on its Ngulu Block offshore Gabon and providing a drilling update on the Kavango West 1X exploration well [1][2]. Offering Details - The offering consists of 30,000,000 Units priced at C$0.60 per Unit, resulting in gross proceeds of C$18 million [1]. - Each Unit includes one common share and one warrant, with the warrant allowing the purchase of one common share at C$0.72 for up to 24 months post-offering [3]. - The net proceeds will fund appraisal and exploration expenses related to the Ngulu Production Sharing Contract (PSC), including geological studies and the advancement of the initial development well at the Loba Complex [4]. Drilling Updates - The Kavango West 1X exploration well has reached a depth of approximately 2,300 meters, with plans to drill through an additional 1,500 meters of the Otavi reservoir zone, targeting a total depth of around 3,800 meters [5]. - Well results are expected in Q4 2025 [5]. Ngulu Block Overview - The Ngulu PSC covers 1,214 km² in shallow waters offshore Gabon, with ReconAfrica holding a 55% working interest and acting as the operator [7][17]. - The block has near-term oil production potential, particularly from the Loba field, which has a production potential of approximately 20,000 barrels per day [14][13]. - The Loba field was discovered in 1976 and has a gross oil column of 140 meters [14]. Strategic Rationale - The transaction positions ReconAfrica as an offshore West Africa operator, diversifying its portfolio with low-risk appraisal, development, and exploration assets [10][13]. - The company aims to leverage existing infrastructure within 10 kilometers of the Loba field to reduce development costs and enhance cash flow [10]. - The PSC agreement allows for a minimal work commitment over the initial four-year period, providing an attractive entry into a producing hydrocarbon province [9][10]. Exploration Potential - The Ngulu block contains 28 identified prospects, with sizes comparable to existing producing fields ranging from 38 million to 250 million barrels [16]. - Advanced seismic reprocessing will be initiated to identify additional prospects and develop a drilling inventory of lower-risk exploration targets [16][11]. Industry Context - Gabon is a significant oil producer in Africa, with current production exceeding 220,000 barrels per day and proven reserves of approximately 2 billion barrels [20]. - The government of Gabon is committed to creating a favorable regulatory environment to attract investment in the oil and gas sector [19].
Bunker Hill Updates Previously Announced C$45 Million “Bought Deal” Private Placement of Units to Provide for Canadian Dollar and U.S. Dollar Denominated Tranches
Globenewswire· 2025-09-15 10:45
Core Viewpoint - Bunker Hill Mining Corp. has revised the terms of its private placement financing, aiming to raise a total of approximately C$18 million and US$19.6 million through Canadian and U.S. dollar-denominated units respectively [1][3]. Financing Details - The financing consists of two tranches: 150,000,000 units priced at C$0.12 for gross proceeds of C$18,000,000 (CAD Offering) and 225,000,000 units priced at US$0.08711 for gross proceeds of US$19,599,750 (USD Offering) [1][8]. - The offering is led by Haywood Securities Inc. as the lead underwriter, along with BMO Capital Markets as part of the underwriting syndicate [2]. Closing and Conditions - The offering is expected to close on September 29, 2025, subject to certain closing conditions, including necessary approvals from the TSX Venture Exchange [4]. Underwriter Compensation - The company will pay the underwriters a cash commission of 6.0% of the gross proceeds, with a reduced fee of 3.0% for certain purchasers on the President's List. Additionally, non-transferable compensation options will be issued [5]. Regulatory Compliance - The units will not be registered under the U.S. Securities Act and cannot be offered or sold in the United States without proper registration or exemption [6][7]. Company Overview - Bunker Hill Mining Corp. focuses on revitalizing its historic mining asset in northern Idaho, specifically targeting zinc, lead, and silver deposits [9].
Altura Energy Issues Shares Pursuant to Securities for Services Arrangement
Newsfile· 2025-09-11 12:00
Group 1 - Altura Energy Corp has issued 346,350 common shares at a deemed price of $0.18 per share to Haywood Securities Inc as compensation for consulting and advisory services [1] - The shares issued are subject to a hold period of four months and one day from the date of issuance, in accordance with Canadian securities laws [1] - The advisory agreement between Altura Energy and Haywood was originally dated February 20, 2025, and amended on April 11, 2025 [1] Group 2 - Altura Energy Corp is an exploration and production company with interests in the Holbrook basin of Arizona [2]
First Mining Announces Public Offering and Non-Brokered Private Placement for up to $20 Million
Globenewswire· 2025-07-14 20:09
Core Viewpoint - First Mining Gold Corp. has announced a public offering of up to 27,800,000 units at a price of $0.18 per unit, aiming for gross proceeds of up to $5,004,000, alongside a non-brokered private placement for additional funding [1][5]. Offering Details - The public offering will consist of units, each comprising one common share and one-half of a common share purchase warrant, with warrants priced at $0.27 per share, valid for 36 months [2][3]. - An over-allotment option allows agents to purchase an additional 15% of the units at the offering price, exercisable up to 48 hours before closing [4]. - The non-brokered private placement aims to raise up to $15,008,600 through 55,600,000 units and 22,730,000 flow-through units priced at $0.22 each [5][6]. Use of Proceeds - Proceeds from the offerings will be allocated to advancing the Springpole and Duparquet gold projects, as well as for general working capital [7]. - Funds from the flow-through units will be used for eligible Canadian exploration expenses related to the gold projects, with expenditures to be renounced by December 31, 2025 [7]. Timeline and Regulatory Approval - The public offering is expected to close around July 22, 2025, while the non-brokered offering is anticipated to close by August 5, 2025, pending Toronto Stock Exchange approval [8]. Company Overview - First Mining Gold Corp. is focused on developing two major gold projects in Canada: the Springpole Gold Project and the Duparquet Project, along with other gold project interests [12].