Brigus Gold raises C$14 million; PetroLatina to sell stock at discount; Alhambra heralds sale

By Stephanie N. Rotondo

Portland, Ore., July 30 - Brigus Gold Corp. completed a C$14 million private placement of common stock, the company announced Friday.

The deal included a fully exercised greenshoe and proceeds will be used for exploration and development programs.

Meanwhile, PetroLatina Energy plc said it had entered into an agreement to sell £7.4 million worth of stock via a private placement. The company is selling the stock at a discount.

Alhambra Resources Ltd. publicized its plan to raise $6 million via a private placement of units. The company is aiming to add Chinese investors to its register.

Also, Kiska Metals Corp. amended the terms of a previously announced private placement. The company increased the total amount of funds it was seeking to C$6 million from C$4 million.

Among other new deals, Northstar Healthcare Inc. said it wanted to raise C$5 million via a unit sale, while Greencross Ltd. said it was hoping for A$2.7 million from an equity placement.

Brigus takes in C$14 million

Brigus Gold pocketed C$14 million from a private placement of stock, the company said in a press release.

The proceeds raised included a fully exercised C$2 million greenshoe.

The Halifax, Nova Scotia-based company sold 10 million flow-through shares at C$1.40 each.

"The funds will be used for exploration and development activities at the company's Black Fox gold mine and adjoining Grey Fox-Pike River Project in Ontario," the company said in the release.

Calls seeking comment were not returned Friday.

Brigus' shares (Toronto: BRD) fell a cent, or 0.78%, to C$1.28. Market capitalization is C$165.62 million.

PetroLatina to sell stock at discount

PetroLatina Energy is seeking £7.4 million, or $11.5 million, via a private placement of ordinary shares.

Tribeca Oil & Gas Inc. has subscribed for $10 million of the shares.

The London-based oil and gas company will issue a total of approximately 18.5 million shares at 40p each. The price per share represents a 21.5% discount to the July 29 closing share price of 51p.

Proceeds will be used to fund work programs and exploration expenditures in Colombia, as well as for working capital.

PetroLatina's stock (London: PELE) 53.2p.

Alhambra heralds unit sale

Alhambra Resources has negotiated a $6 million private placement of units, according to a press release.

The company intends to sell approximately 13.95 million of the units at $0.43 each. The units will hold one common share and one half-share warrant.

Whole warrants are exercisable at $0.72 for 18 months. The strike price represents a nearly 50% premium over the July 29 closing share price of C$0.37.

"Developing a relationship with Pinnacle [Capital Ltd., the placement agent] has been the key in establishing relationships with investors in Hong Kong," said John J. Komarnicki, chairman and chief executive officer, in the release.

"We are well aware of the fact that China has made significant investments in Kazakhstan, particularly in the resource sector. We are very excited in this private placement as it clearly indicates that there are many Chinese investors who believe in the quality of Alhambra's assets and in our ability to increase resources, reserves and gold production."

Proceeds will be used for exploration and development activities at the company's Uzboy Project in Kazakhstan and for working capital.

Alhambra's equity (TSX Venture: ALH) gained 8½ cents, or 22.97%, to C$0.455. Market capitalization is C$36.89 million.

Alhambra Resources is a Calgary, Alta.-based gold exploration and production company.

Kiska increases unit placement

Kiska Metals upsized the amount it hopes to raise from a previously announced private placement of units to C$6 million from C$4 million.

The deal originally priced July 21.

The units will be sold at C$0.82 apiece, with each unit consisting of one common share and one half-share warrant.

Whole warrants are exercisable at C$1.15 for two years. The strike price represents a 35.29% premium over the July 20 closing share price of C$0.85.

Proceeds will be used for exploration at the Whistler project, as well as at other properties, and for general corporate purposes. Settlement is expected by Aug. 10.

Kiska's equity (TSX Venture: KSK) inched up a cent, or 1.27%, to C$0.80. Market capitalization is C$53.23 million.

Kiska Metals is a Toronto-based mineral exploration company.

Northstar to raise C$5 million

Northstar Healthcare, a Houston- and Toronto-based manager of ambulatory surgery centers, publicized a C$5 million non-brokered private placement of equity.

Canada Healthcare Acquisition Inc. is the investor.

The company will issue 14.6 million common shares at approximately C$0.343 per share. The price per share represents an 8.53% discount to the July 29 closing share price of C$0.375.

"I am confident that this cash infusion will provide Northstar with the time and financial flexibility necessary to implement critical corporate initiatives, designed to return Northstar to profitability," said Donald L. Kramer, a former CEO of Northstar and an indirect owner of Canada Healthcare, in the release.

"We will move quickly to execute a new business plan, including the re-syndication of the Palladium centre and the initiation of new marketing programs. I believe there are a number of growth opportunities that can be cultivated in the Texas market and we will actively explore all options."

Settlement is expected by Aug. 31.

Northstar's stock (Toronto: NHC) improved by half a cent, or 1.33%, to C$0.38. Market capitalization is C$5.28 million.

Greencross wants acquisition funds

Greencross, a Wooloongabba, Australia-based veterinary services provider, said it will raise A$2.7 million from a private placement of shares.

The company is also planning to raise A$1.7 million via a share purchase plan.

Greencross is selling the shares at A$0.70 each, a 2.1% discount to the July 30 closing share price of A$0.715 (Australia: GXL).

The company intends to use the proceeds for future acquisitions.

"Greencross remains committed to its growth strategy of pursuing acquisition opportunities within the veterinary industry," commented Glen Richards, managing director, in a press release.

"Whilst the acquisition of Babtec Holdings will not proceed, the industry remains highly fragmented and being one of the only meaningful consolidators in the industry, Greencross is well positioned to continue expanding via acquisition.

"The equity raising will provide the company with the required funding to significantly expand the business and strengthen its position as the largest Australian veterinary group in Australia," Richards concluded.

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