TransGaming issues units; Robust closes deal; CalAmp sells notes, stock; Li3 gets $3.5 million

By Stephanie N. Rotondo

Portland, Ore., Dec. 23 - The PIPEs market started to wind down on Wednesday for the shortened holiday week and many deals were completed.

TransGaming Inc. said it settled a private unit sale, raising nearly C$9 million. The funds will be used for growth.

Robust Resources Ltd. also wrapped a deal, taking in more than A$7.5 million. The financing will be used for exploration efforts.

Also, CalAmp Corp. announced it had raised more than $6 million through a private placement of subordinated notes and stock. In addition, the company also announced it had completed a refinancing.

Among other transactions settled, Li3 Energy Inc.'s private financing took in more than $3.5 million, and Starfield Resources Inc. closed on a C$2.4 million private placement of equity.

The financial markets will close early Thursday and will be closed Friday in observance of the Christmas holidays.

TransGaming issues units

TransGaming closed a C$8.91 million private placement of equity units, according to a press release.

Of the proceeds raised, C$8.41 million was raised on a brokered basis.

The Toronto-based company issued approximately 12.73 million units at C$0.70 per unit. The units consisted of one common share and one half-share warrant. Whole warrants are exercisable at C$1.00 for two years.

TransGaming will use the proceeds to grow its GameTree.tv unit, as well as for general corporate purposes.

TransGaming's stock (TSX Venture: TNG) gained 9 cents, or 11.69%, to C$0.86. Market capitalization is C$30.2 million.

TransGaming is a developer of game development software.

Robust closes share placement

Sydney, Australia-based Robust Resources also completed a deal, taking in A$7.59 million.

The company sold approximately 6.32 million ordinary shares in the private placement at A$1.20 per share.

Talbot Group Investments was one of the investors. Upon completion of the transaction, Talbot increased its stake in Robust to 16.8% from 13.8%.

Also, the financing will give the company "in excess of A$10 million to fund the continuing exploration of the Romang Island Project in Indonesia and a total of 58.7 million shares on issue," according to a press release.

"This successful fund raising of over A$7 million, particularly in the lead up to the holiday season, is further indication of the high caliber of institutional support we have for our Romang Island project," said Gary Lewis, managing director, in the release.

"Having these funds in place ahead of the 2010 drill program gives us the confidence to increase activity at both the north and south island prospects, in particular at Batu Mas where we have recently announced world class gold and significant base metal intersections.

"We are delighted that Talbot has demonstrated its continuing support for Robust by increasing its holding to 16.8% and we welcome other long-term, strategic investors to the register," Lewis added. "We look forward to an exciting and prosperous 2010."

Robust's shares (Australia: ROL) closed at A$1.64.

CalAmp sells notes, equity

CalAmp took in $6.18 million from a private placement of subordinated notes and common stock, the company announced.

A total of $4.25 million was raised through the issuance of 1.93 million shares of stock, with the remaining $1.93 million coming from the notes placement.

The 12% notes mature Dec. 22, 2012 and are convertible into common shares at $0.50 per share.

Investors also received 192,500 warrants. They are exercisable at $4.02 per share.

In addition, CalAmp said that it had paid off a $13.95 million credit facility with Bank of Montreal and had secured another credit facility with Square 1 Bank.

"This refinancing is an important milestone for CalAmp," said Rick Gold, president and chief executive officer, in a press release.

"It provides working capital for growth and eliminates the uncertainty associated with the maturing bank credit agreement. We want to thank our past lenders for their patience and support and now look forward to working with Square 1."

CalAmp's equity (Nasdaq: CAMP) slipped 2½ cents, or 0.78%, to $3.165. Market capitalization is $81.6 million.

CalAmp is an Oxnard, Calif.-based producer of cleaning and disinfecting products.

Li3 takes in $3.5 million

Li3 Energy pocketed $3.5 million from a private placement of units.

A tranche of $440,000 completed the deal. Another $2.59 million was raised on Nov. 17.

A total of 14 million units were issued at $0.25 per unit. The units contained one common share and two-half share warrants. Whole series A warrants are exercisable at $0.50 for five years, while whole series B warrants are exercisable at $1.00.

Proceeds will be used to finance the company's acquisition of Next Lithium Corp. and Puna Lithium Corp., among other things.

Li3's stock (OTCBB: LIEG) increased by 3 cents, or 4.92%, to $0.64. Market capitalization is $73.8 million.

Li3 Energy is a Lima, Peru-based lithium mining and energy company.

Starfield settles stock sale

Starfield Resources settled a C$2.37 million private placement of equity, the company said in a news release.

The deal originally priced at C$3 million on Dec. 3.

The Toronto-based company sold approximately 22.61 million flow-through shares at C$0.105 per share.

Proceeds will be used for exploration.

Calls seeking comment were not returned Wednesday.

Starfield's shares (TSX Venture: SRU) improved half a cent, or 5.56%, to C$0.095. Market capitalization is C$43.3 million.

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