3 Non-Brokered Financings You Need to Know About (Aug. 23-27)

August 27, 2021 01:53 PM PST

Our weekly series detailing the latest non-brokered private placements to put on your radar is back, with two deals from mining companies and one from a CBD business.

1. Trigon Metals Inc. (TSX-V: TM)

Gross Proceeds: $6.84 million
Sector: Copper
Units issued: 17.11 million
Type: Special units
Price: $0.40
Warrants: Half; $0.50; Two years
Agents: Non-brokered
Use of Proceeds: Mine restart

Company breakdown:

Junior copper miner that owns the Kombat mine in Namibia
Proceeds for the deal will be used to restart the dormant mine, with commissioning of the plant expected by the end of the year
A recent NI 43-101 resource estimate pegged the project with an indicated 12.25 megatonnes of 1.94% copper, 0.70% lead, and 13.65 g/t Ag
Shares rose in response to the estimate, but since have returned to pre-announcement levels
Shares are down two cents since announcing the private placement

2. Lucky Minerals Inc. (TSX-V: LKY)

Gross Proceeds: $3.5 million
Sector: Precious metals
Units issued: 43.75 million
Type: Special units
Price: $0.08
Warrants: Full; $0.15; Two years
Agents: Non-brokered
Use of Proceeds: Drill program

Company breakdown:

Junior gold and copper junior with the Fortuna project in Ecuador
Proceeds from the offering will be used for the first-ever drill program at the project, with 3,000 metres planned
Recent samples from the project included a 3-metre interval of 8.08 grams of gold per tonne
We wrote in detail about the deal on Thursday
Shares of the company are up a half-cent since announcing the private placement