ChemGenex closes A$10 million placement; Helphire to sell equity; Claude wraps C$10.72 million deal

By Stephanie N. Rotondo

Portland, Ore., April 9 - Deals coming to market on Thursday increased ahead of the holiday weekend and several deals were seen settling after a relatively quiet Wednesday.

ChemGenex Pharmaceuticals Ltd. announced that it completed a A$10 million private placement of stock. The company also said it was planning a rights issue for existing shareholders, a transaction valued at A$7.4 million.

Meanwhile, Helphire Group plc said it was planning to issue new common stock in its quest to raise £50 million. The money will help the company further its plan to increase profitability and cash generation.

Mining company Claude Resources Inc. wrapped a private placement, the company announced. The deal originally priced at C$15 million on March 23. However, the company raised just C$10.72 million in the unit and stock sale.

National Holdings Corp. entered into a definitive agreement to sell preferred shares to Fund.com Inc. The sale will raise $5 million for the holding company.

The financial markets are closed on Friday in observance of Good Friday.

ChemGenex closes stock placement

ChemGenex Pharmaceuticals closed an A$10 million private placement of stock, according to a press release.

The Geelong, Australia-based company sold 23.25 million ordinary shares at A$0.43 per share.

Also, the company is planning to allow existing shareholders the right to participate in a non-renounceable offering. Shareholders will receive one new share for every 14 shares held at the same price as the placement. The offering will total about A$7.4 million.

Proceeds will be used to further research and development on the company's omacetaxine, a cancer treatment drug, in the United States and Europe.

"We are delighted to have completed this capital raising in a difficult financial climate, and look forward to further consolidating our financial position through the rights issue," said Greg Collier, chief executive officer and managing director, in a statement. "We look forward to completing the regulatory submissions for omacetaxine in the U.S. and Europe over the coming months, and to preparing for the commercial launch of omacetaxine."

ChemGenex's stock (Australia: CXS) closed at A$0.42.

Helphire plans stock sale

Helphire Group, a Bath, England-based company, is planning to raise £50 million via a private placement of ordinary shares.

The company will issue 151.5 million shares at 33p per share. Cenkos Securities acted as agent.

Also, Helphire is planning an open offer for existing shareholder, according to a press release.

"Along with the rest of the new management team at Helphire I am clear about the plan for improving the group's profitability and cash generation," said Richard Rose, chairman of Helphire, in the statement. "Tough decisions are being made, implementation of the plan is well under way and the fundraising will provide us with the resources we need to complete it."

Helphire's equity (London: HHR) closed at 41.75p.

Helphire Group provides non-fault accident management assistance and related services.

Claude settles C$10.72 million deal

Claude Resources completed a private placement originally announced on March 23, the company announced.

The company was aiming to raise C$15 million through a placement of units and flow-through shares on a best-efforts basis. At closing, the company raised C$10.72 million.

Claude sold approximately 8.6 million units at C$0.75 per share. Each unit contained one common share and one half-share warrant. Each whole warrant is exercisable at C$0.90 for 18 months.

The total of the unit sale equaled C$6.45 million.

Additionally, the company sold 5.3 million flow-through shares at C$0.80 per share, totaling C$4.27 million.

Proceeds will be used to repay outstanding debt and for general corporate purposes.

Claude's stock (Toronto: CRJ) gained 3 cents, or 4.76%, to end at C$0.66.

Claude Resources is a Saskatoon, Saskatchewan-based gold mining company.

National Holdings to sell preferreds

National Holdings will sell series C preferred stock to Fund.com Inc., according to a press release.

Under the terms of the $5 million deal, National Holdings will issue 5,000 of the shares at $1,000 per share. Fund.com will make an initial investment of $500,000, receiving a promissory note that is convertible into the preferreds at the time of closing. Should the deal not settle, the note is convertible into common stock at $0.75 per share.

Fund.com will also receive approximately 25.3 million warrants, exercisable at $0.75.

"Having this additional working and growth capital and Fund.com as a strategic partner prepared to invest more capital, we will be able to take a proactive role in the repositioning and consolidation of the financial services industry giving us great business leverage in these unprecedented times," said Mark Goldwasser, CEO of National, in a prepared statement.

"We are excited and welcome Fund.com as our business and financial partner as they share our vision that the time is now to seize on the turmoil and dislocation in the financial markets to consolidate market share giving us the opportunity to further define our business based on a diversified financial model and core client and investor centric values," added Leonard Sokolow, president of National.

"The National management team has a compelling plan to expand their independent brokerage platform through possible strategic acquisitions and Fund.com is pleased to support their anticipated acquisition effort," concluded Greg Webster, CEO of Fund.com. "We also intend to compliment their organic growth through new client leads for National representatives generated via our fund.com lead generation business and through innovative new fund products customized for registered investment advisors through our exchange traded fund subsidiary, AdvisorShares."

National Holdings' stock (OTCBB: NHLD) increased a nickel, or 8.33%, to $0.65. Market capitalization is $10.51 million.

National Holdings is a New York-based holding company for National Securities Corp, National Insurance Corp. and National Holdings Mortgage Corp.

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