Rockgate Capital seeks C$6.5 million; Goldnev deal upsized; Galore Resources plans units sale

By Stephanie N. Rotondo

Portland, Ore., Aug. 26 - Rockgate Capital Corp. brought a C$6.5 million private placement to market on Thursday.

The company is selling units in the brokered financing. Proceeds will be used mainly for exploration.

Meanwhile, Goldnev Resources Inc. said it had upsized a previously announced private placement of units. The company is now aiming to raise C$1.8 million, up from its original amount of C$1 million.

Galore Resources Inc. is also conducting a private unit sale. The company is looking to pocket C$1.6 million, which it will use for work at its Mexican properties.

And, Hemisphere Energy Corp. wrapped a unit placement, taking in just over C$1 million.

Rockgate seeks C$6.5 million

Rockgate Capital announced a C$6.5 million private placement of units.

The company intends to sell up to 10 million of the units at C$0.65 each. The units will hold one common share and one half-share warrant.

Whole two-year warrants are exercisable at C$0.80 in the first year and at C$0.90 in the second.

The strike price represents a 15.94% and 30.44% premium, respectively, to the Aug. 25 closing share price of C$0.69.

"The company intends to use the net proceeds for exploration and development of the Falea Property in Mali and for general working capital purposes," according to a press release.

Rockgate's equity (Toronto: RGT) gained 2 cents, or 2.90%, to C$0.71. Market capitalization is C$47.82 million.

Rockgate Capital is a Vancouver, B.C.-based mineral exploration and development company.

Goldnev deal upsized

Goldnev Resources lifted a previously announced private placement of units to C$1.8 million from C$1 million.

The deal was originally announced on March 31.

The Calgary, Alta.-based company intends to sell 36 million units at C$0.05 each. The units hold one common share and one warrant.

The warrants are exercisable at C$0.08 for one year, representing a 60% premium over the March 30 closing share price of C$0.05.

"The proceeds from the private placement will be used to pay for a well recompletion and production testing program on the corporation's Turner Valley property and to finance the acquisition of additional working interests at and funding for the preparation of the pre-feasibility study on the corporation's Pasquia Hills oil shale project as well as for general corporate purposes," the company said in a press release.

Goldnev's equity (TSX Venture: GNZ) dipped a cent, or 15.38%, to C$0.055. Market capitalization is C$6.99 million.

Galore to raise C$1.6 million

Galore Resources is seeking C$1.6 million via a private placement of units, according to a press release.

The non-brokered deal also has a 15% greenshoe.

About 8 million units will be issued in the transaction at C$0.20 each. The units will contain one common share and one warrant.

The warrants are exercisable at C$0.30 for one year. The strike price is a 33.33% premium over the Aug. 25 closing share price of C$0.225.

Proceeds will be used for exploration and drilling activities at the Dos Santos Gold property located in the historic Concepcion del Oro region of Zacatecas State, Mexico, as well as for working capital.

Galore's shares (TSX Venture: GRI) fell half a cent, or 2.22%, to C$0.22. Market capitalization is C$13.04 million.

Galore Resources is a Vancouver, B.C.-based mineral resource company.

Hemisphere seals over C$1 million

Hemisphere Energy pocketed just over C$1 million from a private placement of units, the company announced.

The non-brokered financing originally priced on July 7.

Hemisphere sold 5.01 million of the units at C$0.20 each. The units consisted of one common share and one warrant.

The warrants are exercisable at C$0.30 for one year. The strike price reflects a 57.9% premium over the July 6 closing share price of C$0.19.

The proceeds will be used for exploration and development, for potential acquisitions and for general corporate purposes.

Hemisphere's stock (TSX Venture: HME) dropped 3 ½ cents, or 13.46%, to C$0.225. Market capitalization is C$3.75 million.

Hemisphere Energy is a Vancouver, B.C.-based oil and gas company.

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