3 Non-Brokered Financings You Need to Know About (July 12-16)

July 16, 2021 01:27 PM PST

A busy week passes, and once again, we've got three non-brokered financings we think our readers should know about. Read on for the details.

1. Arena Minerals Inc. (TSX-V: AN)

  • Gross Proceeds: $10 million
  • Sector: Lithium
  • Units issued: 7.19 million
  • Type: Subscription receipts
  • Price: $0.175
  • Warrants: Half; $0.25; Two years
  • Agents: Non-brokered
  • Use of Proceeds: Project acquisition

Company breakdown:

  • Lithium brine developer with projects in Chile and Argentina 
  • Proceeds from the financing will go toward its acquisition of 35% of the Sal de la Puna project in Salta, Argentina from Centaur
  • Lithium Americas has agreed to purchase $6 million of the offering
  • Shares of Arena increased dramatically following a previous private placement in February
  • The stock is up 3.5 cents since announcing the private placement to close at 17 cents on Friday

2. Winston Gold Corp. (CSE: WGC)

  • Gross Proceeds: $3 million
  • Sector: Precious metals
  • Units issued: 40 million
  • Type: Special units
  • Price: $0.075
  • Warrants: Full; $0.105; Two year
  • Agents: Non-brokered
  • Use of Proceeds: Ongoing exploration

Company breakdown:

  • Gold junior focused on a past-producing project in Montana
  • Proceeds from the financing will be used "to bring the Winston Gold project near Helena, Mont., into commercial production and to also develop additional toll-milling solutions to fill the Paradine mill to capacity."
  • The company produced its first gold concentrate at its Paradine project back in February, after which shares peaked, but since then have been on the decline
  • Shares are down half a cent since announcing the financing

3. Blue Sky Uranium Corp. (TSX-V: BSK)

  • Gross Proceeds: $2.56 million
  • Sector: Uranium
  • Units issued: 16 million
  • Type: Flow-through shares
  • Price: $0.16
  • Warrants: None
  • Agents: Non-brokered
  • Use of Proceeds: Ongoing exploration

Company breakdown:

  • Uranium junior with projects in Argentina
  • Proceeds will be used for an ongoing drill program at its Amarillo Grande project
  • Company completed first stage of the 4,500-metre program in June, with results pending
  • Shares are down 3 cents since announcing the private placement, closing at 17 cents on Friday

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