Anfield to place stock; Helix to raise C$13.58 million; Sunridge sells stock; NWM amends deal

By Stephanie N. Rotondo

Portland, Ore., Sept. 4 - Despite being the day before a holiday weekend, Friday saw the private placement market announce many deals, with the mining sector dominating.

Anfield Nickel Corp. brought a C$15.68 million deal to market. The company said it intends to sell equity in its non-brokered placement. According to a company spokesperson, the financing has already attracted strong investor interest.

Meanwhile, Helix BioPharma Corp. announced a C$13.58 million unit sale. The company said that the addition of warrants could help bring in more money down the line.

Sunridge Gold Corp. is looking to raise nearly C$6 million from a private stock sale. The deal was announced in conjunction with the announcement of a new strategic partnership.

Elsewhere, NWM Mining Corp. amended some terms of a private placement originally announced July 28. The company adjusted its warrant coverage and also extended the closing date.

Frontera Resources Corp. said it was aiming to raise £3.7 million for project funding. Gold World Resources Corp. meanwhile said it wanted to take in C$3 million for its exploration projects in China.

Anfield plans equity placement

Anfield Nickel announced a C$15.68 million non-brokered private placement of equity.

The company will issue about 5.6 million common shares at C$2.80 per share.

David Strang, chairman of Anfield, said the funds would be used for a recently announced 44,000-meter drill program at the company's Mayaniquel nickel laterite project in Guatemala.

Strang also commented on the company's ability to raise the funding without the help of a broker.

"We can very easily finance this company by ourselves," he said. "We're in a lucky position to do that."

Investors have already expressed interest in participating in the placement, he added.

"I think [the terms] are fair for everybody involved," he said.

Anfield's equity (TSX Venture: ANF) closed unchanged at C$3.10. Market capitalization is C$47.3 million.

Anfield Nickel is a Vancouver, B.B.-based precious mineral exploration company.

Helix to raise C$13.58 million

Helix BioPharma is conducting a C$13.58 million private placement of common share units, according to a press release.

The company will sell approximately 6.62 million units, with each unit containing one common share and one warrant. The units will sell at C$2.05 each and each warrant is exercisable at C$2.87 for three years.

In an e-mail received by Prospect News, John Docherty, president of the company, gave his reasoning for including warrants in the deal.

"We offered warrants in the deal as is common in such transactions for a company at Helix's developmental stage, which also has an upside of potentially yielding for Helix further funding in the future if the warrants are exercised," he said.

Settlement is expected by Sept. 11.

Helix's stock (Toronto: HBP) gained 17 cents, or 7.46%, to C$2.45. Market capitalization is C$123 million.

Helix BioPharma is an Aurora, Ont.-based biopharmaceutical company developing products for the treatment of cancer and pre-cancerous conditions.

Sunridge sells stock

Sunridge Gold will take in C$5.6 million from a private placement of common shares, the company said.

Sunridge, a Vancouver, B.C.-based mineral exploration company, will sell 14 million shares at C$0.40 each to Antofagasta Minerals SA.

The deal came in connection with the announcement that the company had signed a memorandum of understanding to enter into a strategic partnership with Antofagasta. Under the terms of the agreement, Antofagasta will pay for $10 million in exploration work over a five-year period to earn a 60% interest in Sunridge's Asmara Project in Eritrea.

Upon completion of the private placement, Antofagasta will become Sunrdige's largest shareholder, holding about 18% equity interest in the company.

"We are very happy to be forming this strategic alliance with one of the leading copper producers in the world," said Michael Hopley, president and chief executive officer, in a statement.

"Having concluded site visits, it is obvious that Antofagasta shares our belief that the Asmara Project has the potential for the discovery of other large base metal deposits - larger even than the Emba Derho deposit.

"This funding of the work on the exploration areas will allow us to drill many of the best targets in those areas. In addition, the corporate financing by Antofagasta will permit us to continue further exploration and development of the four existing deposits, particularly Emba Derho, towards final feasibility and eventual production."

Sunridge's stock (TSX Venture: SGC) improved by 12 cents, or 21.82%, to C$0.67 Market capitalization is C$39.3 million.

NWM changes deal terms

NWM Mining amended some terms of its C$4 million equity units placement, which was originally announced July 28.

The company will sell units consisting of one common share and one two-year warrant at C$0.06 per unit. Under the new terms of the deal, the warrants are exercisable at C$0.08 in the first year and at C$0.10 in the second year.

The original terms allowed the warrants to be exercised at $0.08 for 18 months.

In addition, the company extended its closing date to Sept. 25, according to Chris Berlet, president and CEO.

Berlet told Prospect News the adjustments made to the warrants were "mandated by the [Toronto] exchange," while the extension of the closing date was to accommodate investors. Berlet noted that interest in the financing had been "quite positive."

Berlet added that, upon the full exercise of the warrants, the company will likely take in a little more than C$4 million.

Proceeds will be used at NWM's Lluvia de Oro project, which the company intends to restart in the near term.

"We've added a whole lot to the project," Berlet said. The mine currently has two deposits being explored and "potential for more all around it."

NWM's equity (TSX Venture: NWM) gained a penny, or 20%, to C$0.06.

Based in Toronto, NWM Mining develops and explores gold properties.

Frontera looks for project funds

Frontera Resources, a Houston-based oil and gas company, said it would raise £3.7 million via a private placement of equity.

The company will issue approximately 35.79 million common shares at 10.3p per share. Investors will also receive one two-year warrant per each common share purchased. The warrant is exercisable at 15p.

Proceeds will be used "to fund the company's ongoing oil and gas development programs within its Shallow Fields Production Unit, Block 12, located in the country of Georgia," according to a press release.

"We are very pleased with this addition of new capital in support of our company's ongoing efforts," stated Steve C. Nicandros, chairman and CEO, in the release.

"The planned use of these proceeds will permit us to continue to advance work at the Shallow Fields Production Unit where anticipated results are expected to provide us with increased cash flow generation going into 2010."

"Underpinned by cost-cutting initiatives that have been implemented since the beginning of this year and remain ongoing, I am encouraged by the overall prospects for meaningful value realization and growth in the year ahead."

Frontera's shares (London: FRR) closed at 10.5p. Market capitalization is £6.74 million.

Gold World aims for C$3 million

Gold World Resources will sell equity units in its effort to raise C$3 million.

Each unit will hold one common share and one warrant. The units will sell at C$0.05 each and each one-year warrant is exercisable at C$0.10.

Proceeds will be used for exploration efforts in China.

"The company is exploring for precious metals in China," a press release read. "It has been granted a certificate of approval for the establishment of enterprises with foreign investment in the People's Republic of China and a business license, both with 30-year business terms. The company has been offered operating gold projects for acquisition or joint venture."

Gold World's stock (TSX Venture: GDW) ended steady at C$0.04. Market capitalization is C$2.53 million.

Gold World Resources is a Toronto-based precious metals exploration company.

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