Apoquindo upsizes unit placement; CB Richard Ellis plans direct offering; Guyana wraps tranche

By Stephanie N. Rotondo

Portland, Ore., June 10 - Apoquindo Minerals Inc. announced it increased the size of its private placement of units on Wednesday, due to demand.

The company's chief financial officer told Prospect News that the deal - originally announced June 1 - garnered more interest than had been expected.

Meanwhile, CB Richard Ellis Group Inc. said it would take in $100 million via a registered direct offering. The company is also planning a $50 million public offering.

Among completed deals, Guyana Goldfields Inc. closed on the second tranche of a deal originally announced on May 15. The company raised C$4.75 million, bringing total proceeds to more than C$17 million.

Also, Phorm Inc. said it raised £15 million by privately issuing equity. Proceeds will be used to implement the company's strategy in the United Kingdom and Korea.

MDRNA Inc. is aiming to raise $10.5 million through a direct offering of stock. Proceeds will be used for working capital.

Apoquibdo increases unit placement

Apoquindo Minerals said it upsized a private placement of equity units, according to a press release.

The non-brokered transaction was increased to C$7.15 million, up from the original price of C$5.01 million, announced June 1.

The company plans to sell 11 million units comprising one common share and one half-share warrant. Each unit will sell at C$0.65 per unit and each whole two-year warrant is exercisable at C$0.90 for the first year and at C$1.10 thereafter.

"We got more interest than we had before," said Winnie Wong, chief financial officer of Apoquindo. Wong told Prospect News that "another strategic investor" was brought on as well. The additional investor is an existing stakeholder in the company.

"We just know that we had the interest and we can do a quick private placement very easily," she explained.

Proceeds from the placement will go toward funding the company's existing exploration projects.

Apoquindo's equity (TSX Venture: AQM) fell a nickel, or 6.85%, to C$0.68. Market capitalization is C$27.4 million.

Apoquindo Minerals is a Vancouver, B.C.-based junior natural resources company.

CB Richard plans direct offering

CB Richard Ellis is planning to take in $100 million through a registered direct placement of stock.

Under the terms of the deal, the real estate services firm will issue approximately 13.44 million common shares to Paulson & Co., according to a press release. No pricing was given and Steve Iaco, head of corporate communications for the Los Angeles-based company, declined to give specifics. Iaco said the company had entered a quiet period "so we can't be responsive at this time."

The company is also planning an up to $50 million pubic offering of class A common stock.

Proceeds will be used for general corporate purposes.

CB Richard's shares (NYSE: CBG) gained $1.20, or 14.74%, to $9.34. Market capitalization is $2.45 billion.

Among other real estate companies, Norwegian Property ASA announced that it would close on a NOK 1.21 billion private placement of stock at its upcoming board of directors meeting on June 24.

The Oslo-based company had first announced the deal - which priced between NOK 1.21 billion and NOK 1.45 billion - on June 9. Approximately 201 million common shares will be sold at NOK 6.00 per share.

Funds raised in the transaction will be used to repay debt.

Norwegian Property's shares (Oslo: NPRO) increased 22 cents, or 3.08%, to NOK 7.36.

Guyana wraps second tranche

Guyana Goldfields raised C$4.75 million in the second tranche of its private placement of units, the company said.

The company sold approximately 1.73 million units containing one common share and one half-share warrant at C$2.75 per unit. Each whole warrant is exercisable at C$4.00 for three years.

In the first tranche of the deal, Guyana issued approximately 4.47 million units, raising a total of C$12.3 million on June 4.

The deal originally priced on May 15. The company had planned to sell only 4.38 million units.

International Finance Corp. purchased C$5 million of the units.

Proceeds will go toward funding a definitive feasibility study, among other purposes.

Guyana's stock (Toronto: GUY) slipped 14 cents, or 3.42%, to C$3.95. Market capitalization is C$176 million.

Guyana Goldfields is a Toronto-based gold exploration company.

Phorm settles stock sale

London-based Phorm settled a £15 million private placement of ordinary shares, according to a press release.

The company sold approximately 3.33 million shares at 450p per share.

"Following the successful launch of Discover, our personalized consumer content proposition, and the accompanying enthusiasm from publishers and ISP partners, I am pleased that the financial community has similarly demonstrated its support for Phorm, with a substantially over-subscribed offering," stated Kent Ertugrul, chief executive, in a statement. "We are pleased that both existing shareholders as well as a number of equally well-respected financial institutions not previously shareholders in Phorm have participated in this capital raise. With the addition of these new funds, we are well positioned to deliver strong growth as we engage with ISPs across the globe with a view to deployment in multiple markets."

Phorm's equity (London: PHRM) closed at 573p. Market capitalization is £74 million.

Phorm is a digital technology company focusing on behavioral and contextual online advertising.

MDRNA prices offering

MDRNA, a biotechnology company, announced a $10.5 million registered direct offering of equity.

The Bothell, Wash.-based company plans to issue 5.25 million common shares at $2.00 per share. Investors will also receive warrants good for another 5.25 million shares, exercisable at $2.38 for 5½ years.

"Our ability to complete this transaction is a testament to the strength of our core RNAi technologies and our outstanding scientific team," said J. Michael French, president and CEO, in a news release. "This financing offers us the opportunity to continue to rebuild shareholder value by giving us additional capital to move our technology forward in a significant manner while continuing to execute our partnering strategy."

Settlement is expected by June 12.

MDRNA's shares (Nasdaq: MRNA) dropped 55 cents, or 20.37%, to $2.15. Market capitalization is $73.5 million.

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