TransForce wraps stock deal; Iron Road raises A$2.46 million; Sacre-Coeur settles unit tranche

By Stephanie N. Rotondo

Portland, Ore., Aug. 13 - If Wednesday was the day of large private placements, then Thursday was the day of the single-digit deal.

Also, many companies announced completed financings, including a C$8.33 million stock sale from TransForce Inc.

In addition to its private placement, the company also closed on a C$41 million public offering of shares.

Iron Road Ltd. also wrapped a deal, selling stock for proceeds of A$2.46 million. The company will use the funds to further its iron ore projects.

Also, Sacre-Coeur Minerals Ltd. said it secured C$2.24 million in the first tranche of its C$3.25 million placement of units.

In new deals, Active Control Technology Inc. announced a plan to raise up to C$1.5 million. The company will issue equity units to its chairman, according to the terms of the transaction.

TransForce wraps stock deal

TransForce raised C$8.33 million in a private placement of common shares, the company announced.

TransForce sold about 1.42 million of the shares to Jolina Capital Inc. at C$5.85 per share. Jolina purchased the shares to maintain its 16.82% equity interest in the company.

In addition to the private sale, TransForce also completed a bought-deal public offering of about 7.04 million shares for proceeds of about C$41.18 million. The shares were sold to a syndicate of underwriters co-led by National Bank Financial Inc. and Scotia Capital Inc. The underwriters also included BMO capital Markets, RBC Dominion Securities Inc. and Cormark Securities Inc.

Proceeds from the financings will be used to reduce debt.

TransForce's equity (TSX: TFI) fell 27 cents, or 3.60%, to C$7.22. Market capitalization is C$526 million.

TransForce is a Saint-Laurent, Quebec-based transportation company.

Iron Road raises A$2.46 million

Iron Road, a West Perth, Australia-based iron ore exploration company, took in A$2.46 million from a private placement of stock.

The company sold about 8.19 million shares at A$0.30 per share.

"With the announcement last week of our maiden mineral resource of 110Mt at the Warramboo project on the Eyre Peninsula, we are naturally very keen to continue work to quantify what we believe is one of Australia's significant new iron ore projects," said Andrew Stocks, managing director, in a press release.

"The capital raising will support us in the completion of the global exploration target for Warramboo and facilitate further exploration work at the highly prospective Gawler project to the north."

With the new shares issued under the placing, Iron Road's cornerstone investor, the Sentient Group, has increased its equity stake to 25%, the release said.

"The Sentient Group's continued support for the company provides us with great confidence in the prospective value of our holdings and places us in a strong position to pursue development and potential partnership opportunities," Stocks remarked.

Iron Road's shares (ASX: IRD) closed at A$0.415.

Sacre-Coeur settles tranche of unit sale

In other settled deals, Sacre-Coeur Minerals said it completed a C$2.24 million tranche of its C$3.25 million private placement announced July 9.

The company is also conducting a C$1.21 million non-brokered placement, which was announced on Aug. 12.

In this tranche, the company sold about 3.45 million units containing one common share and one half-share warrant. The units sold at C$0.65 each and each whole two-year warrant is exercisable at C$0.85.

All told, the company plans to sell 5 million units.

"It is anticipated that a second tranche of this private placement will close shortly," the company said in a press release.

Sacre-Coeur will use the funds for its test-mining program on its Lower Puruni Project, among other things.

Sacre-Coeur's stock (TSX.V: SCM) gained 3 cents, or 4.84%, to C$0.65. Market capitalization is C$19.5 million.

Sacre-Coeur Minerals is a Vancouver, B.C.-based mineral exploration company.

Rand, Beaconsfield complete deals

Buffalo, N.Y.-based Rand Capital Corp. also wrapped a private placement, the company said. The venture capital investment firm pocketed $1.23 million from the equity sale.

The company issued 358,398 common shares and has plans to issue up to 1.1 million additional shares in the future.

Meanwhile, Beaconsfield Gold NL took in A$1 million via a placement of 10% convertible notes.

The Melbourne, Australia-based gold mining company sold 6.25 million of the three-year notes at A$0.16 each. The notes are convertible into common stock at any time prior to maturity.

Rand Capital's equity (Nasdaq: RAND) improved by 4 cents, or 1.22%, to $3.30, as Beaconsfield's shares (ASX: BCD) ended at A$0.13. Rand's market cap is $18.6 million.

Active Control intends to sell units

Active Control Technology will conduct an up to C$1.5 million private placement of equity units, according to a press release.

The company intends to sell up to 15 million units, which will hold one common share and one half-share warrant. The units will sell at C$0.10 each and each whole two-year warrant is exercisable at C$0.125.

The units will be sold to one investor, Richard Hazell, chairman of the company.

Proceeds will be used for working capital purposes.

Active Control's equity (TSX.V: ACT) dipped a penny, or 9.09%, to C$0.10. Market capitalization is C$17.6 million.

Active Control Technology is a Burlington, Ont.-based designer and manufacturer of wireless devices for the commercial access control industry and for underground mining communications and locating.

© 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.