Northern Star wraps $17.92 million; Avanti pockets C$7.6 million; Churchill plans C$3 million

By LLuvia Mares

New York, Nov. 28 - Now that Northern Star Mining Corp. settled its final tranche of a $17.92 million private placement, the company said its combination of assets, quality workers, location and ready to go infrastructure in place makes it a great investment.

"In this market place there is obviously unforeseen events that can happen which can cause the financing not to close, so if you get money in tranches it's not as risky," said Jonathan Awde, company investor relations director. "The company is also always looking to acquire access if the price and place are right."

The company raised $1.13 million in the second tranche. The first tranche of the deal settled on Nov. 26 for $16,795,000.

As previously reported, each unit consists of $1,000 principal amount of transferable senior secured notes and warrants for 1,000 shares.

The company's stock (CDNX: NSM) closed at $0.84 on Wednesday, up $0.3 from Tuesday's $0.81 close.

The warrants are exercisable at C$1.40 per share until Nov. 26, 2012.

The notes mature in two years and bear interest at 14% per year.

Casimir Capital LP is the lead agent. Casimir received a 5% cash commission and broker warrants exercisable for 896,000 common shares, with the same terms and conditions as the unit warrants.

Proceeds will be used for exploration and development and for working capital.

Northern Star is a mining company based in Vancouver, B.C.

Avanti pockets C$7.6 million

Avanti Mining Inc.'s plan was not to raise money in two separate tranches but as a standard financing, according to chief executive officer Craig J. Nelsen. However a shift in plans forced the company to split the deal in two.

"We had some minor issue with lost wire transfers and had to reorganize the second issue while we tracked down these wire transfers," said Craig J. Nelson, company chief executive officer. "I call it administrative issues."

Avanti raised C$7.6 million in the first tranche of a C$10 million non-brokered private placement of units on Wednesday. The deal priced on Nov. 9.

In this tranche, Avanti sold 12,670,022 units at C$0.60 apiece. The company will sell a total of 16,666,667 units at that price. Each unit consists of one common share and one half-share warrant, with each warrant exercisable at C$0.90 for two years.

Avanti intends to close a second tranche of 2.33 million units for C$1,398,000 on Nov. 29.

"At this point it is basically a people play that makes our company a good investment," he said. "We do have a qualifying property which we are working on but our main focus is acquiring molybdenum development assets, and that is why we are raising this money, to be able to execute any of these assets we come across."

Proceeds will be used for exploration and for acquisition of mineral resource projects.

Based in Vancouver, B.C., Avanti Mining is a newly formed company focused on acquiring, exploring and developing mineral resource projects.

Churchill plans C$3 million

Churchill Energy Inc. said with its high growth potential, the company feels confident it will continue to raise proceeds once it settles a non-brokered private placement of shares to raise up to C$3,001,250.

"With common shares and flow-through Canadian development expenditures being issued, this type of financing was a better fit for us," said Kelly D. Cowan, company chief executive officer. "Plus there is a tax incentive for people at this time of year who invest."

Churchill either will issue up to 10 million common shares at C$0.30 apiece or up to 8,575,000 flow-through common shares at C$0.35 per share.

Churchill's stock (CDNX: CEI) closed at C$0.30 on Wednesday, down C$0.05 from Tuesday's C$0.35 close.

The deal is scheduled to close on Dec. 18. Proceeds will be used for development and to fund Churchill's 2008 capital expenditure program.

Cowen said the company is always looking for additional capital and acquisitions as part of its everyday business.

"We are undervalued to our net asset value and we have great growth prospects in the deep basin in west central Alberta," Cowan said.

Churchill is a Calgary, Alta.-based oil and natural gas company.

Maple Leaf raises C$2.29 million

Maple Leaf Reforestation Inc. said the C$2.29 million it raised Wednesday from a non-brokered private placement of units was exactly what the company needed to continue its growth.

The deal priced for C$3 million on Oct. 30.

"Because we are a small company and don't have enough income yet, a private placement was the best option for us to get the financing that we need," said Raymond Lai, company president and chief executive officer.

"Because we are still just starting out, doing a financing through a bank was not an option for us."

Lai said the company continually seeks additional financing and acquisitions in China.

The company sold 1,526,667 units at C$1.50 each. It originally intended to sell 2 million of the units. Each unit consists of one common share and one half share warrant. Each whole warrant is exercisable at C$2.00 for two years.

Maple Leaf's stock (TSX Venture: MPE) closed at C$1.16 on Wednesday, up C$0.20 from Tuesday's C$0.96 close.

Proceeds will be used to proceed with the company's Xinjiang project, announced on Oct. 16, to expand Maple Leaf's sales and marketing campaign and for general working capital.

Maple Leaf is a Calgary, Alta.-based company focused on growing "value added tree seedlings" in China to help correct their environmental issues.

GLG Life gets C$30 million

GLG Life Tech Corp. announced Wednesday it will raise C$30 million in a private placement of units.

"Anything is possible," said Brian Meadows, company chief financial officer. "But right now we are just planning on using the net proceeds on plant construction and expansion. So as Stevia, an alternate, healthy sweetener expands, we hope our business expands also.

"We are looking at a C$40 to C$50 billion global sweetener industry right now, so the fact that Stevia is being seen as the next alternative sweetener by industry giants like Coca-cola it's pretty good," he said regarding the company as an investment.

"So we are well positioned to take advantage of this particular market opportunity as it grows in the next two or three years."

The company will sell 10 million units at C$3.00 each. Each unit consists of one common share and one half share warrant. Each whole warrant is exercisable at C$4.50 for 18 months.

The company's stock (CNQ: GLGT) closed at C$3.575on Wednesday, down $C0.0900 from Tuesday's C$3.665 close.

Clarus Securities Inc. is the agent and will have a greenshoe for an additional 1.5 million units for C$4.5 million.

Proceeds will be used for plant construction and expansion, convertible debt retirement, working capital and general corporate purposes.

Based in Vancouver, B.C., GLG Life Tech procures health products, food supplements and dietary supplements worldwide and sells them to their main customer in China, Shandong Yong He Tang Health Products Chain Stores Ltd.

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