Denison wraps C$8 million deal; SQI, Atlanta Gold deals make progress; White Pine shrinks unit offering

By Kenneth Lim

Boston, Dec. 23 - Denison Mines Corp. concluded a C$8 million private stock placement to raise capital for exploration activities.

SQI Diagnostics Inc. completed the initial C$3 million tranche of an expected C$5 million stock placement to fund its working capital requirements.

Atlanta Gold Inc. also had some early success in its planned C$2.5 million unit placement, taking in an initial C$1.63 million from a tranche that had support from its chairman and an existing shareholder.

White Pine Resources Inc. sold C$1.07 million of stock and warrant units in a downsized offering.

Denison settles placement

Denison Mines wrapped up a C$8 million private placement of common stock.

The company sold about 7.28 million flow-through common shares at C$1.10 apiece on a bought-deal basis. Denison common stock (TSX: DML) closed at C$0.84 on Tuesday, lower by 1.18% or $0.01.

The company's market capitalization is C$159.62 million.

Proceeds will be used for exploration.

Denison in a Toronto-based uranium producer.

SQI takes C$3 million

SQI Diagnostics completed an initial C$3 million tranche of its planned C$5 million non-brokered placement of shares.

The sold 2.6 million shares at C$1.25 apiece in the tranche. The entire deal is slated to comprise 4 million common shares.

SQI common stock (TSX: SQD) closed unchanged at C$1.25 on Tuesday. The company's market capitalization is C$27.8 million.

Proceeds will be used to advance a product line, for manufacturing and to ramp up North American sales and marketing.

SQI is a Toronto-based medical systems automation company.

Atlanta Gold raises insider cash

Atlanta Gold settled an initial C$1.63 million tranche of its planned C$2.5 million non-brokered private unit placement.

The company sold about 16.32 million units at C$0.10 apiece in the tranche. Each unit comprises one common share and one half-share warrant. Each whole warrant may be exercised at C$0.25 for two years. The company plans to sell 25 million units in total.

Common shares of Atlanta Gold (TSX: ATG), a C$2.07 million market capitalization company, closed at C$0.07 on Tuesday, unchanged from the previous session.

The warrants may expire sooner if the company's shares close at C$0.50 or higher for 20 consecutive days.

Proceeds will be used to explore the company's property in Idaho and for working capital.

Toronto-based Atlanta Gold is a gold exploration company.

Of the 16.32 million units sold in the initial tranche, 5.15 million were bought by Atlanta Gold chairman James K. Gray. Existing shareholder Cedric Ritchie bought 3 million of the units offered. Ritchie's stake in Atlanta Gold will increase to about 9.8% following the deal.

White Pine downsizes deal

White Pine Resources downsized a non-brokered private placement of units to C$1.07 million from the original C$1.3 million.

The company sold about 4.28 million flow-through units at C$0.25 apiece. The company priced the deal for 5.2 million units at the same price on Dec. 19.

Each unit consists of one flow-through common share and one warrant. Each warrant is exercisable at C$0.35 for one year.

White Pine common stock (TSX: WPR) closed at C$0.24 on Tuesday, up by 17.07% or C$0.035. The company has a market capitalization of C$2.7 million.

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