Category Archives: BVI Company share placement

Talon Metals announced closing of non-brokered Private Placement

BVI-registered Talon Metals Corp. announced the completion of a non-brokered private placement of 20,235,000 common shares at a price of US$0.0868 per common share for aggregate gross proceeds of US$1.75mln. Finder’s fee of 6% cash and 6% warrants are payable in connection with certain orders under the private placement, each warrant is exercisable to acquire one common share for a period of 36 months following the closing date at an exercise price of US$0.116 per common share.

The net proceeds from the private placement will be used by Talon Metals for ongoing test work in advance of the exploration program. The private placement is subject to the final approval of the TSX.

Also, the BVI corporation continued to progress discussions with battery and vehicle manufacturers, to optimize the value chain for nickel, from the mine to the battery.

West African Minerals Corporation announced share placing to raise US$6 million

West African Minerals Corporation announced that it has issued 52,797,738 new ordinary shares at a placing price of 7p per share, together with one warrant for each two shares, to raise approximately £3.7 million before expenses subject to admission. Each warrant is exercisable for one new ordinary share at a price of 10p per ordinary share for a period of two years.

The new shares will rank equally with the existing ordinary shares in issue and application will be made for them to be admitted to trading on AIM. The placing shares will represent 15.44 per cent of the enlarged share capital of the BVI corporation. The Warrants are unlisted and will not be admitted to trading on AIM.

Some major shareholders of West African Minerals Corporation had indicated that they were willing to support a fund raising should this be approved by the Board. Following the issue of the Placing Shares, the company’s issued share capital will consist of 341,893,917 ordinary shares, with voting rights.

BVI company arranged private placement

British Virgin Islands-registered oil and gas exploration company Eco Atlantic Oil and Gas Limited announced a non-brokered private placement of CDN$3,200,000 through the issue of 8,000,000 common shares of the BVI company, at a price of $0.40 per Common Share.

To participate in the private placement, the company has entered into agreements with some subscribers, including Azimuth Ltd., an exploration and production company jointly owned by Seacrest Capital Ltd. and Petroleum Geo-Services ASA, insiders and new investors.

CEO of Eco Atlantic, Gil Holzman, commented on the private placement: “The strengthening of our treasury allows us to further advance our work program offshore Namibia.”

The transaction is expected to close on November 16, 2012, subject to the receipt of all required regulatory approvals, including the approval by the TSX Venture Exchange.

Chaarat Gold Holdings Ltd raised funds of £51.6 million

Chaarat Gold Holdings Limited, the BVI-registered company engaged in metals exploration in Kyrgyz Republic, announced that it has conditionally raised funds of approximately US$83.4 million via the proposed issue of 103,290,468 ordinary shares of US$0.01 each, through a placing and direct subscriptions at a price of 50 pence per ordinary share.

The BVI company has received commitments to subscribe for 100,142,670 new ordinary shares to raise approximately £50.1 million. Additionally, Chaarat has received commitments to subscribe for 3,147,798 new ordinary shares through direct subscriptions.

Chaarat Gold Holdings is currently in the process of compiling a Definitive Feasibility Study for the Tulkubash Project and a Pre-Feasibility study on the much larger Kiziltash project in the Kyrgyz Republic, and significant part of the net proceeds of the fundraising will be deployed towards developing the required infrastructure for both projects.

The subscription shares will represent approximately 2.1 per cent of the enlarged issued share capital of the company following First Admission, which will be 150,181,698 ordinary shares. The placing shares will represent approximately 40.0 per cent of the issued share capital of the BVI company following Second Admission, which will be 250,324,368 ordinary shares.