Sage Gold pockets C$5.48 million; KANA looking at $9.8 million; Moss Lake sells C$1.22 million

By LLuvia Mares

New York, Nov. 16 - After Kodiak Exploration Ltd.'s big score earlier in the month, Sage Gold Inc. said with the C$5.48 million non-brokered private placement settlement Friday, the company plans on doing much more exploring.

"We have a very aggressive exploration program in Canada primarily for gold, but also for nickel and copper and so it's primarily going to go into drilling over the next 12 months," said Nigel Lees, company president and chief executive officer.

"We will be drilling in the Beardmore Geralton Gold Camp which has become very active because of a discovery led by a company called Kodiak. We are next door to Kodiak so we are having some fun with that.

"We happen to be very close to what they call the 'golden mile' which was the discovery area of Kodiak. We always look at acquiring additional properties and we are certainly going to be active in that area, I think that we certainly plan to increase our holding in the camp."

Sage's deal priced on Oct. 30 for C$4 million with a C$1 million greenshoe.

"Originally we had announced that we were going to do $4 million, but we did $5.48 million, so we are very happy," he said. "Since we had orders from investors for a lot more than what we were offering, we decided to increase the amount we were raising."

The company sold 10.96 million flow-through units at C$0.50 each.

As previously reported, each unit consists of one flow-through common share and one half share warrant. Each whole warrant is exercisable for one non flow-through share at C$0.75 for two years.

The warrants may expire sooner if Sage's shares trade at C$0.95 or higher for 21 consecutive trading days, in which case they will expire within 30 days after the company notifies holders of such an event.

Sage's stock (TSX Venture: SGX) closed at C$5.06 on Friday, down C$0.07 from Thursday's C$5.13 close.

Proceeds will be used for exploration.

Sage Gold is a Toronto-based mineral exploration company focused on exploring, developing and acquiring economic properties in the Americas.

Kodiak Exploration raised C$40 million in a private placement of flow-through shares and common shares announced in early November.

KANA looking at $9.8 million

In other news, KANA Software, Inc. expects to put some of its debt to rest after entering into a commitment with a group of institutional investors to issue $9.8 million in a direct offering of stock.

"Going with a direct offering as oppose to any other financing structure had a lot to do with protecting our Net Operating Loss (NOL) carry-forwards' financial structure - the company has large amounts of NOLs," said a company insider.

The company will sell 4 million shares at $2.45 per share. No warrants were issued in the deal.

The offering is expected to close Nov. 21.

KANA's stock (OTCBB: KANA) closed at $2.75 on Friday, up $0.10 from Thursday's $2.65 close.

Proceeds will be used to repay debt and for general corporate purposes, which may include capital expenditures and working capital.

Menlo Park, Calif.-based Kana provides multi-channel customer service.

Moss Lake sells C$1.22 million

In an effort to raise more money, Moss Lake Gold Mines Ltd. said the C$1.22 brought in from a non-brokered private placement of flow-through shares and units was a better financing structure for the company.

"We went with flow-through shares because we had flow-through type expenses, and we also get more money with flow-through shares," said Don Orr, company secretary and treasurer.

"The company is undervalued and has good prospects. We will also be doing quite a bit of exploration next year with this flow-through money."

The deal priced on Oct. 15 for C$1.2 million and was increased to C$1,213,315.69 on Oct. 31.

The company sold 2,470,593 flow-through shares at C$0.33 each for C$815,295.69 and 1,599,978 units at C$0.25 each for C$399,994.50.

The units each consist of one non flow-through share and one half-share non flow-through warrant. Each whole warrant will be exercisable at C$0.40 for two years.

The company's stock (TSX Venture: MOK) closed at C$0.32 on Friday, down C$0.05 from Thursday's C$0.37 close.

Proceeds will be used for development and general corporate purposes.

Toronto-based Moss Lake is a gold mining company. It is a 62% owned subsidiary of Wesdome Gold Mines Ltd.

LiDCO plans £2.01 million

In other news, LiDCO Group plc said it will conduct a £2.01 million private placement of shares.

"I am pleased to announce the successful raising of £2 million from our existing shareholders based both in the U.K. and U.S.A.," said Terry O'Brien, president chief executive officer, in a press release.

"The placing was oversubscribed with the participating shareholders representing approximately half of our existing shareholder base. I am especially pleased that investors on both sides of the Atlantic have joined in this placing which will help us to further promote our new and existing products to the growing minimally invasive hemodynamic monitoring market."

The company will sell 23,647,074 ordinary shares at 8.5p apiece. Chief executive officer Terry O'Brien will buy 705,884 shares.

The company's stock (London: LID) closed at £8.00 Thursday and did not see any activity on Friday.

Proceeds will be used for marketing, research and development.

Based in London, LiDCO develops medical devices used for cardiovascular monitoring.

Advanced Micro wraps $622.3 million

Advanced Micro Devices expects to fortify its business for consumers through its sell of $622.3 million from a private placement of stock with a subsidiary of Mubadala Development Co.

"We proudly welcome Mubadala, a world-class investor, to the AMD shareholder family," said Hector Ruiz, company chair and chief executive officer, in a press release. "This investment strengthens AMD's ability to deliver customer-centric innovation and choice to the marketplace creating greater value for all of our shareholders."

The United Arab Emirates-based investor bought 49 million shares at $12.70 each.

Advanced Micro's stock (NYSE: AMD) closed at $12.64 on Friday, down $0.06 from Thursday's $12.70 close.

Proceeds will be used for general corporate purposes including investments in research and development, product innovations and manufacturing.

Advanced Micro Devices is a Sunnyvale, Calif.-based producer of integrated circuits.

Oro Gold plans C$1.88 million

Another company looking to strike gold is Oro Gold Resources Ltd. who announced it plans to raise C$1.88 million in a non-brokered private placement of units.

"With this financing, we continue to develop and expand a strong shareholder base committed in supporting our future growth, and look forward to using these funds to rapidly increase our gold resource base," said Darren Bahrey, company president and chief executive officer, in a press release.

The company will sell 2.5 million units at C$0.75 per unit. Each flow-through unit consists of one common share and one half-share warrant. Each whole two-year warrant will be exercisable at C$1.00 for the first year and at C$1.25 thereafter.

Oro Gold's stock (TSX Venture: OGR) closed at C$0.70 on Friday, down C$0.01 from Thursday's C$0.71 close.

Proceeds will be used to define and expand the gold resource at Oro's Trinidad property in Sinaloa, Mexico.

Vancouver, B.C.-based Oro is a gold exploration company with 13 projects in Mexico and Panama.

Redex plans C$2 million

In the real estate sector, Redex Inc. priced a non-brokered private placement of shares for C$2 million.

"This equity will prove to be an important factor in the realization of our goal to acquire additional rental properties (to be converted into 'divided' condominiums) as these proceeds will be used to make cash deposits on those properties as well as to finance the inherent soft costs and renovations in relation to the buildings acquired," said the company's president and chief executive officer, in a press release.

The company plans to sell 5,714,285 common shares at C$0.35 each.

Redex' stock (TSX Venture: RDX) closed at C$0.40 on Friday, up C$0.01 from Thursday's C$0.39 close.

The deal is expected to settle by the end of the year. Proceeds will be used for property acquisitions.

Redex is a real estate company based in Montreal.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.