Jubilee Platinum to sell equity; Competitive Technologies gets funding; Rye Patch wraps sale

By Stephanie N. Rotondo

Portland, Ore., Aug. 7 - After several days of an active private placement market, things died down on Friday and the larger triple-digit deals all but disappeared.

Jubilee Platinum plc said it would raise £13.25 million through a sale of ordinary shares. The company plans to use the proceeds to help it integrate an upcoming asset purchase.

Meanwhile, Competitive Technologies Inc. secured an $8 million equity financing facility. The funds will act as bridge funding until the company can increase its revenue from its product lines.

Among the day's completed transactions, Rye Patch Gold Corp. wrapped a more than C$3 million sale of common-share units. Rye Patch announced the deal on July 24 and then increased the issue just days later.

Jubilee to sell equity

Jubilee Platinum orchestrated a £13.25 million private placement of shares, according to a press release.

The London-based company will issue 44.16 million ordinary shares at 30p per share. The price per share represents at 23% discount to the 30-day weighted average trading price of Jubilee's shares.

The placement is conditional upon factors, including approval on Jubilee's planned acquisition of Braemore Resources plc.

"I am delighted by the response shown by the London market," commented Colin Bird, chief executive officer of Jubilee, in the release. "These funds will allow the company to accelerate the integration and development of the enlarged company's assets following the completion of the acquisition of Braemore Resources."

Jubilee's shares (London: JLP) ended at 36.62p. Market capitalization is £47.7 million.

Jubilee Platinum is a mining exploration and development company with a focus on platinum group metal and nickel/copper.

Competitive Technologies secures funding

Competitive Technologies arranged an $8 million equity financing facility with Fusion Capital Fund II LLC, the company announced.

Under the terms of the agreement, Fusion is required to purchase common shares in $75,000 to $2 million tranches over 25 months. The price per share will be determined by the prevailing market price of Competitive's shares at the time of the sale. There is no discount on the stock, and Competitive is solely in control of timing and amount per sale.

In addition, Fusion received 86,933 shares as a commitment fee. The fund will receive that same amount of shares pro rata during the facility's tenure.

"This arrangement will provide CTT with needed bridge funding until we have increased revenue from our exciting pain therapy medical device," said John B. Nano, chairman, president and CEO, in a statement. "CTT is very pleased to again work with Fusion Capital."

Competitive's equity (Amex: CTT) gained 3 cents, or 1.34%, to $2.27. Market capitalization is $21.7 million.

Competitive Technologies is a Fairfield, Conn.-based provider of technology transfer, selling and licensing services.

Rye Patch settles unit placement

Gold explorer Rye Patch Gold raised C$3.15 million from a private placement of equity units, the company said in a press release.

The deal originally priced at C$2.1 million on July 24 and was later upsized on July 29.

The Vancouver, B.C.-based company issued 21.03 million units containing one common share and one warrant at C$0.15 per unit. The warrants are exercisable at C$0.20 for 18 months.

Proceeds will be used to explore and develop the company's Lincoln Hill and Wilco projects in Nevada, as well as for general corporate purposes.

Rye Patch's stock (TSX Venture: RPM) dropped a penny, or 4.76%, to C$0.20. Market capitalization is C$9.28 million.

Multiplied Media Corp. also completed a private placement, according to a press release.

The company raised C$2.92 million via a placement of common shares. About 48.64 million shares sold at C$0.06 each.

Funds from the deal will go toward developing and integrating UnoMobi Inc.'s products once Multiplied Media completes its acquisition of the company. Funds will also be used to develop existing products.

Multiplied's shares (TSX Venture: MMC) closed unchanged at C$0.075. Market capitalization is C$6.26 million.

Multiplied Media is a Calgary, Alta.-based provider of mobile local search services.

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