Yesterday's announced financings: April 17

April 18, 2023 09:44 AM PST

Here’s your roundup of yesterday's announced equity financings, courtesy of the only database that tracks every financing, every day.

1. Quipt Home Medical Corp. (TSX-V: QIPT)

  • Gross Proceeds: $35 million (bought deal)
  • Sector: Healthcare services
  • Units issued: 4.46 million
  • Type: Common shares
  • Price: $7.85
  • Warrants: None
  • Agents: Beacon Securities, Canaccord Genuity
  • Use of Proceeds: Debt repayment

Company breakdown:

  • Healthcare services company that provides telehealth and automated distribution to improve home management of chronic illness
  • Has a run rate EBITDA of $49 million
  • Shares have been on the rise since last October, until a dip from the announcement of the financing

2. Horizon Copper Corp. (TSX-V: HCU)

  • Gross Proceeds: US$20 million
  • Sector: Copper
  • Units issued: 35 million
  • Type: Subscription receipts
  • Price: $0.80
  • Warrants: Half; $1.10; Four years
  • Agents: Non-brokered
  • Use of Proceeds: Part of reverse takeover

Company breakdown:

  • Mining company that owns a portion of projects in Turkey, Mongolia, and soon in Peru
  • Financing is part of a reverse takeover transaction with Sandstorm Gold Ltd., whereby Horizon will acquire a 1.66 percent interest on the Antamina copper mine
  • Shares of the company have been halted since the announcement of the reverse takeover in 2022

3. Lithiumbank Resources Corp. (TSX-V: LBNK)

  • Gross Proceeds: $6 million (bought deal)
  • Sector: Lithium
  • Units issued: 3.16 million
  • Type: Flow-through units
  • Price: $1.90
  • Warrants: Three-quarters; $2.00; Three years
  • Agents: Echelon Capital Markets
  • Use of Proceeds: Ongoing exploration

Company breakdown:

  • Lithium miner advancing the Boardwalk project in west-central Alberta
  • A preliminary economic assessment is expected soon
  • A technical report on the project estimated 393,000 tonnes of indicated lithium carbonate at a grade of 71.6 mg/L and an inferred 5.8 million tonnes at 68 mg/L

4. Silver One Resources Inc. (TSX-V: SVE)

  • Gross Proceeds: $5 million
  • Sector: Precious metals
  • Units issued: 23.81 million
  • Type: Common shares
  • Price: $0.21
  • Warrants: None
  • Agents: Non-brokered
  • Use of Proceeds: Project acquisition

Company breakdown:

  • Silver junior focused on the Candelaria Mine project in Nevada
  • Financing will be used to satisfy its bond obligations under its option agreement for Candelaria
  • Recently also received a drill permit for its Phoenix project in Arizona

5. Kutcho Copper Corp. (TSX-V: KC)

  • Gross Proceeds: $4 million
  • Sector: Copper
  • Units issued: 8 million; 6.67 million
  • Type: Special units; Flow-through units
  • Price: $0.25; $0.30
  • Warrants: Half; $0.40; Two years
  • Agents: Non-brokered
  • Use of Proceeds: Working capital

Company breakdown:

  • Copper junior focused on the Kutcho copper-zinc project in northern British Columbia
  • Has 22.6 Mt measured and indicated at 2.26% CuEq
  • Is currently undertaking a geophysical survey of Kutcho, with plans to define new priority drill targets

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