Daily Update: July 19, 2011
When a billionaire gets pied in the face during a parliamentary hearing, one cannot expecting anything more exciting to happen that day, including the announcing of private placements. On Tuesday the resource financing market went up slightly, though continued to move at a molasses-like pace.
Tuesday saw a total of six deal openings with expected proceeds of $26.2 million, and two deal closings with gross proceeds of $5.7 million.
Argentex Mining Corporation (TSX-V:ATX) opened a $10.01 million private placement underwritten by GMP Securities on a bought deal basis. Each unit includes a 1/2 warrant that expires in 24 months. The deal is expected to close on or about August 10, 2011.
Pacific Wildcat Resources Corp. (TSX-V:PAW) opened a $10 million private placement on a best efforts basis. Each unit includes a 1/2 warrant that expires in 18 months.
Gowest Gold Ltd. (TSX-V:GWA) opened a $3.2 million private placement underwritten by Salman Partners on a best efforts basis. The deal is expected to close on or about August 5, 2011.
Soltoro Ltd. (TSX-V:SOL) closed a $4.5 million private placement on a bought deal basis.
Venerable Ventures Ltd. (TSX-V:VLV) closed a $1.2 million private placement on a best efforts basis. The placement included flow-through and non-flow-through units, and each unit includes 1 warrant that expires in 12 months.