Dynamic plans largest PIPE in company history; Radar settles tranche of C$1.07 million placement

By Devika Patel

Knoxville, Tenn., Sept. 15 - Dynamic Resources Corp. plans to take in $6 million by selling a convertible note, which will be the largest deal in the company's history.

Radar Acquisitions Corp. announced after the close Friday that it had completed a C$21,120 tranche of a C$1.07 million non-brokered private placement of units. The company expressed pleasant surprise at its ability to raise so much, more than 30% more than it had intended to take in, given the current market conditions.

Premier Power Renewable Energy, Inc. settled a $7 million private placement of units on Sept. 9, which the company announced late last week. The company's shares (OTCBB: PPRW) soared Monday, swelling 74.67%, or $2.24, to close at $5.24.

Dynamic to sell $6 million

Las Vegas-based Dynamic said it has agreed to sell a $6 million 4% convertible secured note.

"We are enthusiastic about this financing, which is the largest in the company's history," Dynamic president Robert Fedun said in a press release. "First, these funds give Dynamic the ability to pursue our aggressive development of the Sentell Field. In our next phase of development, our plan is to drill at least six Cotton Valley wells and two Haynesville wells, and this financing gives Dynamic the capital to fully fund this program and move the company toward capital self-sufficiency."

Dynamic has a 20% working interest in 5,500 acres in the Sentell Field in Bossier Parish, La. Three gas wells currently are on production with the fourth gas well being drilled as of March 4. A fifth well is planned to begin drilling immediately after the drilling is completed on the fourth well.

In the private placement, the company sold a four-year note, which is convertible into 40 million shares at $0.15 per share.

Investors also received 20 million warrants. The warrants are exercisable at $0.15 for four years.

Under certain share price performance conditions, Dynamic may require the early conversion of the note.

Proceeds will be used to fund development costs at Sentell Field.

The company has taken in $1 million so far and expects the remaining $5 million upon satisfaction of certain closing conditions.

Dynamic is an oil and natural gas exploration company. Its shares (Pink Sheets: DYRFF) were unchanged Monday, closing at $0.12.

Radar: C$1.07 million

Radar, a natural resource development company based in Calgary, Alta., took in C$21,120 in the second tranche of a C$1.07 million non-brokered private placement of units.

The deal priced for C$705,000 on July 29, and the company raised C$1.05 million in the first tranche of Aug. 22.

"Under the current market conditions we are very pleased that we were able to oversell our original finance target by more than 30% as not only a result of continued support from our current shareholder base, but also the addition of new investors," Radar chief executive officer Timothy Bergen said in a press release.

"Clearly our shareholders believe in Radar's business plan and the potential for significant growth as we pursue financial feasibility on a number of Re-Fuel project sites and work toward our goal of putting our first Re-Fuel plant into production by the end of this fiscal year."

Re-Fuel, one of the company's latest developments, is an engineered solid fuel product.

In the private placement, the company sold 4,762,500 units of one common share and one half-share warrant at C$0.22 apiece in the first tranche and 96,000 units in the second tranche. Radar had planned to sell up to 3,204,545 units.

Each whole warrant will be exercisable at C$0.33 for one year.

Proceeds will be used for advancing projects for the Radar/New Energy USA, LLC joint venture, for continued lease maintenance and for general operating purposes.

The company's shares (TSX Venture: RAC) were unchanged Monday, closing at C$0.18.

Premier raises $7 million

Premier Power took in $7 million in a private placement of units on Sept. 9, according to an 8-K filed last Thursday with the Securities and Exchange Commission.

The company sold 3.5 million units of one series A convertible preferred share, one half-share series A warrant and one half-share series B warrant at $2.00 per unit.

Each preferred is convertible into a common share, with mandatory conversion applicable under certain circumstances.

Each whole series A warrant is exercisable at $2.50 per share for four years.

Each whole series B warrant is exercisable at $3.00 per share for four years.

GT Securities, Inc. was the agent. Vision Opportunity Master Fund, Ltd. was the investor.

"Today is an outstanding milestone for the Premier Power family," the company's president and chief executive officer, Dean R. Marks, said in a press release. "We are having a strong year and anticipate a series of firsts in the U.S. and European markets that demonstrate the value of our teams' engineering ability and depth of solar design and installation experience. We are looking forward to even a bigger 2009."

"Premier Power's proven track record domestically and in Europe, along with their diversification across all market segments has made them a natural market leader, and positions them for outstanding future growth making them a great investment opportunity," added investor Vision Capital's Adam Benowitz.

The company is an El Dorado Hills, Calif.-based provider of solar power systems.

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