BioExx negotiates C$10 million; Crdentia wraps $5.75 million; Futura plans £2 million

By LLuvia Mares

New York, Nov. 15 - Bio-Extraction Inc. believes the technology it uses to extract essential oils from feed stock is what initially helped it negotiate a planned C$10 million private placement of units.

"It's a public company and the financing is predominately to finance the construction of a new full-scale processing plant," said Gordon Aldcorn, Brisco Capital Partners investor relations director.

"It was the most effective way to raise those funds and utilize the public listings. In this case the company is in its commercialization phase and it is building its first actual production plant and the technology they use to extract oils is very unique.

"The business plan is to add additional extraction plants regionally and there may be future financing around that," he said. "It's hard to say at this point whether [the future financing] will be in equity or some other blend of financing."

The company will sell units of one common share and one half-share warrant. Each whole warrant will be exercisable for 18 months.

Terms have not yet been set.

The company's stock (CDNX: BXI) closed at C$0.30 on Thursday, down C$0.04 from Wednesday's C$0.34.

The deal will be conducted by a syndicate of agents led by Canaccord Adams and including Blackmont Capital Corp. and Research Capital Corp.

Proceeds will be used for construction, working capital and general corporate purposes.

Based in Toronto, BioExx develops and commercializes extraction technology.

Crdentia completes $5.75 million

In the healthcare sector, Crdentia Corp. expects to start expanding its company with the settlement of $1.05 million from the second and final tranche of its previously announced private placement of stock, bringing the total deal size to about $5.75 million.

"I am pleased to announce the completion of this additional equity financing which enables us to pursue our strategic growth plans of establishing Crdentia as a leading full-service supplier of healthcare staffing throughout the Sun Belt region," said John Kaiser, company chief executive officer, in a press release.

"Importantly, the capital raised helped to finance our recent acquisitions that have transformed Crdentia into a substantially larger company both in terms of revenue and our geographical service footprint. With the completion of this financing, we are also pleased to welcome new institutional investors to our growing base of shareholders."

In total, the company has sold about 19.2 million shares at $0.30 each along with warrants for about 9.6 million shares. The warrants are exercisable at $0.35 for five years.

In the first tranche, Crdentia sold 15,666,667 shares and warrants for 7,833,333 shares, for proceeds of $4.7 million.

Crdentia's stock (OTCBB: CRDT) closed at $0.27 Thursday, down $0.02 from Wednesday's $0.29 close.

Global Hunter Securities, LLC was the placement agent.

Proceeds will be used for strategic initiatives, including the company's recent acquisitions of Medical People Healthcare Services, Inc. and ATS Health Services, and for working capital.

Dallas-based Crdentia is a health care staffing service.

Futura plans £2 million

The future of Futura Medical plc is expected to speed up a bit after it agreed to a £2 million private funding facility. The placement will be conducted in two tranches.

"I am delighted by the support from both new and existing shareholders for this funding facility which provides additional funds to maintain the momentum of product development at Futura," said James Barder, company chief executive, in a press release.

"We are particularly pleased by the number of opportunities being generated by our in-house R&D at a time when our most advanced product moves close to commercial launch."

In the first tranche, the company will sell 2,059,308 ordinary shares at 48.56p apiece for £1 million.

The company will raise another £1 million by selling ordinary shares at a 10% discount to the average mid-price of Futura's shares during the five trading days before issuing the second tranche of shares.

The company's stock (London: FUM) closed at £52.50 on Thursday, down £0.78 from Thursday's £53.28 close.

Proceeds will be used for development and general corporate purposes.

Futura is a Guildford, England-based pharmaceutical and medical device company.

Osisko settles C$125.13 million

In the mining department, Osisko Exploration Ltd. announced Thursday its balance sheet is now stronger than ever after closing a C$125,125,000 private placement of special warrants.

"We are extremely pleased with the support that we have received during this financing and would like to thank all involved for their hard work," said Sean Roosen, company president and chief executive officer, in a news release.

"As a result of this support, our company will have a very strong balance sheet with more than $200 million in cash resources, placing us in an excellent position to develop the Canadian Malartic gold project."

The placement priced on Oct. 29 for C$75.08 million, with a C$50.05 million over-allotment option. The company said on Wednesday that the greenshoe was fully exercised.

The company sold 19.25 million special warrants special warrants at C$6.50 each. Of that total, 11.55 million warrants were part of the original deal and 7.7 million were from the greenshoe.

The units will each consist of one share and one half-share warrant, and each whole warrant will be exercisable at C$7.90 for two years.

Osisko's stock (TSX Venture: OSK) closed at C$6.15 on Wednesday and did not see any activity on Thursday.

Proceeds will be used for exploration and development.

Osisko is a Toronto-based resource exploration company.

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