QuickLogic brings direct placement; Claude sells units, shares; CanAlaska to raise C$3 million

By Stephanie N. Rotondo

Portland, Ore., Nov. 17 - The private placement arena saw many Canadian issuers with deals in the market Tuesday.

Among the few U.S. deals, QuickLogic Corp. brought a $6.24 million registered direct offering of units. Proceeds are for general corporate purposes.

In Canadian financings, Claude Resources Inc. said it closed on C$5.3 million from a private placement of both units and flow-through shares. Members of the Buchan family were the deal's investors.

Also, CanAlaska Uranium Ltd. announced a C$3 million non-brokered placement of units. The company intends to use proceeds for its uranium exploration activities in Canada.

Raimount Energy Inc. will sell equity - common and flow-through - in its effort to raise C$1.96 million, the company said in a press release. The company's directors are expected to participate in the transaction.

And, Cue Resources Ltd. completed the second and final tranche of its C$2 million private placement of units. The deal had originally priced at C$2.1 million, but was later downsized. However, it ended up being oversubscribed, bringing in C$2.37 million.

QuickLogic brings direct placement

QuickLogic will conduct a $6.24 million registered direct offering of equity units, according to a regulatory filing and subsequent press release.

The Sunnyvale, Calif.-based company will sell the units containing one common share and a three-quarter share warrant at $1.45 each. All told, the company will issue approximately 4.30 million common shares and approximately 3.22 million warrants.

Whole warrants are exercisable at $2.15 for 66 months.

Proceeds will be used for general corporate purposes. Settlement is expected by Nov. 20.

The company could not be reached for comment Tuesday.

QuickLogic's equity (Nasdaq: QUIK) fell 54 cents, or 26.87%, to $1.47. Market capitalization is $45.2 million.

QuickLogic is a developer of low power flexible semiconductor platforms that enable customers to add features to their mobile, consumer and industrial products.

Claude settles units, shares sale

Claude Resources completed a C$5.3 million private placement of units and flow-through shares, the company announced.

Robert Buchan, the Buchan family and a Buchan relative were the investors. Buchan was also added to Claude's board of directors.

The company sold 5 million units at C$0.72 each, for total proceeds of C$3.6 million. The units held one common share and one warrant. Each warrant is exercisable at C$0.90 for three years.

Also, Claude sold 2 million flow-through shares at C$0.85, for proceeds of C$1.7 million.

Proceeds will be used for exploration and general corporate purposes.

Calls seeking comment were not returned Tuesday.

Claude's stock (Toronto: CRJ) declined 2 cents, or 1.96%, to C$1.00. Market capitalization is C$112 million.

Claude Resources is a Saskatoon, Saskatchewan-based gold exploration and mining company.

CanAlaska to raise C$3 million

CanAlaska, a Vancouver, B.C.-based uranium exploration company, is planning a C$3 million non-brokered private placement of units.

The company will issue units at C$0.21 per unit. Each unit will consist of one flow-through common share and one half-share warrant. Whole warrants are exercisable at C$0.28 for 18 months.

Also, the company will sell common share units at C$0.175 each. The units will hold one common share and one warrant. Each warrant is exercisable at C$0.28 for two years.

CanAlaska intends to use proceeds for its uranium exploration projects in Canada, as well as for general corporate purposes.

CanAlaska's shares (TSX Venture: CVV) were unchanged at C$0.19. Market capitalization is C$26.6 million.

Raimount seeks C$1.96 million

Oil and gas explorer Raimount Energy arranged a C$1.96 million private placement of equity, according to a press release.

The company will sell up to 700,000 common shares at C$0.80 each and up to 1.4 million flow-through shares at C$1.00 each.

"The private placement offering was recommended to the directors of Raimount by management," the company said in the release. "The directors are of the view that the private placement offering is an appropriate step for Raimount at this time."

In addition, each director of the company has expressed interest in participating in the financing, though it is not expected to create a new "control person."

Proceeds from the fundraising will be used for land purchases and for drill projects at the Woolford and Innisfail properties.

Raimount's stock (TSX Venture: RMT) held steady at C$0.85. Market capitalization is C$2.51 million.

Raimount is based in Calgary, Alta.

Cue wraps second tranche

Cue Resources settled the second and final tranche of its C$2.37 million non-brokered private placement of equity units, the company said.

The deal originally priced at C$2.1 million on May 7 and was downsized to C$2 million on June 23.

The deal was oversubscribed. Longview Capital Corp. was among the participating investors.

In the last tranche, Cue sold approximately 13.61 million units at C$0.10 per unit, for total proceeds of C$1.36 million. The units contained one common share and one warrant, exercisable at C$0.15 for two years.

Cue issued approximately 10.10 million units in the first tranche, which settled July 13. Proceeds from that portion were C$1.01 million.

The company will use proceeds for general working capital.

Cue's shares (TSX Venture: CUE) gained half a cent, or 5.26%, to C$0.10. Market capitalization is C$4.65 million.

Cue Resources is a Vancouver, B.C.-based resource exploration company.

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