3 Financings You Need to Know About This Week (July 25-29)

July 29, 2022 11:13 AM PST

1. Tidewater Midstream and Infrastructure Ltd. (TSX: TWM)

  • Gross Proceeds: $50.5 million
  • Sector: Natural gas processing
  • Units issued: 42.08 million
  • Type: Special units
  • Price: $1.20
  • Warrants: Half; $1.44; Two years
  • Agents: CIBC Capital Markets and others
  • Use of Proceeds: Debt payment

Company breakdown:

  • Company that focuses on midstream natural gas processing, liquids upgrading, and storage and transportation
  • Shares rose to a 52-week high in June after the company reported earnings of $41.22 million in Q1, but have fallen since
  • Shares have dropped 10 cents since announcing the bought deal

2. Westhaven Gold Corp. (TSX-V: WHN)

  • Gross Proceeds: $4.28 million
  • Sector: Precious metals
  • Units issued: 9.74 million
  • Type: Flow-through shares
  • Price: $0.44
  • Warrants: None
  • Agents: Non-brokered
  • Use of Proceeds: Flow-through expenses

Company breakdown:

  • Gold exploration company that focuses on the Shovelnose project off the Coquihalla Highway in British Columbia
  • Shares rocketed 28 cents in one day in April after the company announced drill results including 23.03 metres of 37.24 g/t Au at Shovelnose.
  • These drill results exceed those that first put the company on the map in Oct. 2018, but the stock has declined sharply since April, possibly due in part to flagging interest in gold

3. CDN Premium Sand Inc. (TSX-V: CPS)

  • Gross Proceeds: $8 million
  • Sector: Precious metals
  • Units issued: 27 million
  • Type: Special units
  • Price: $0.30
  • Warrants: Full; $0.40; Two years
  • Agents: Peters & Co., Fort Capital Partners
  • Use of Proceeds: Facility construction

Company breakdown:

  • Company that aims to supply sustainably-sourced patterned glass for solar panels
  • Financing will be used to build "North America's only vertically-integrated patterned solar glass manufacturing facility"
  • Facility is expected to begin construction by Q1 2023
  • Company signed an MOU with Hanwha Solutions earlier this year, whose Qcells Division is the largest solar panel manufacturer in North America
  • Shares have climbed four cents since announcing the private placement

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