Copano Energy seals $300 million preferred units placement; Kiska Metals to raise C$4 million

By Stephanie N. Rotondo

Portland, Ore., July 21 - Copano Energy LLC had one of the day's largest private financing transactions, as the company announced the completion of a $300 million capital raise.

The company sold preferred units to a single investor in the transaction. The funds will be used to help Copano execute its growth strategies.

Kiska Metals Corp. meantime announced a C$4 million private placement. The company is selling units on a best-efforts basis. Proceeds will be used primarily for exploration.

Among completed capital raises, Taku Gold Corp. took in nearly C$3.5 million from a previously announced private placement of units, well above its intended raise of C$3 million.

Meanwhile, Isign Media Solutions Inc. said it intended to raise almost C$2 million via a private placement of units. The company will use some of the funds for research and development.

And, Vantex Resources Ltd. said it was seeking C$1.7 million for exploration activities. As such, the company has launched a private placement of flow-through units.

Copano seals $300 million

Copano Energy, a Houston-based natural gas company, said it raised $300 million from a private placement of preferred units.

An affiliate of TPG Capital was the investor.

The series A preferred units were sold at $29.05 each, representing a 10% premium according to a press release.

The units give in-kind quarterly distributions of $0.72625 per unit for the first three years and are convertible into common share units on a 1 for 1 basis after July 21, 2013.

"We are pleased to enter into this strategic capital partnership with TPG, a global private investment firm with significant financial resources and a long-term investment perspective," said Bruce Northcutt, president and chief executive officer, in the release.

"TPG shares our vision for the growth of our business. We are confident that, with TPG's support of our Eagle Ford Shale expansion plans and other capital initiatives, this transaction will further our objective to increase the scale and stability of our cash flow.

"As we execute our growth initiatives, the structure of this investment provides us the financial flexibility to continue building our common unit distribution coverage," Northcutt added. "We believe the transaction advances our common unitholders' interests over the near-term and long-term by strengthening our balance sheet and liquidity with patient, long-term capital."

Copano's shares (Nasdaq: CPNO) closed at $27.54. Market capitalization is $1.8 billion.

Kiska to raise C$4 million

Kiska Metals intends to raise C$4 million from a private placement of units, the company announced.

Kiska will sell the units at C$0.82 each. The units will hold one common share and one half-share warrant.

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

Proceeds will be used for exploration work at the Whistler property, as well as other properties, and for general corporate purposes.

Settlement is expected by Aug. 10.

Kiska's stock (TSX Venture: KSK) fell 2 cents, or 2.35%, to C$0.83. Market capitalization is C$55.03 million.

Kiska Metals is a Toronto-based mineral exploration company.

Taku rakes in C$3.45 million

Taku Gold pocketed C$3.45 million from a private placement of units, according to a press release.

The deal originally priced at C$3 million on June 1.

The Vancouver, B.C.-based company issued 13.24 million common share units at C$0.15 each, as well as 9.76 million flow-through units at C$0.15 each.

The common share units held one common share and one warrant. The flow-through units consisted of one flow-through common share and one half-share warrant.

Whole warrants are exercisable at C$0.25 - a 25% premium over the May 31 closing share price of C$0.20 - until July 16, 2012.

According to Mike Gillis, investor relations manager for Taku, the company had announced a financing in April, but "we had difficulty closing." The company then elected to cancel that offering and reprice it, resulting in the June 1 announcement.

With the second financing attempt being successfully completed, Gillis said the company will use some of the proceeds for work at its "stellar property" in the White Gold District in the Yukon, as well as for work at its Tagish Lake property.

"We're hoping to use the financing to drill some holes," he said.

Taku's stock (TSX Venture: TAK) dropped 3 cents, or 10%, to C$0.27. Market capitalization is C$5.54 million.

Isign seeks C$1.9 million

Isign Media Solutions, a Toronto-based developer of interactive advertising solutions, will conduct a C$1.9 million non-brokered private placement of units, the company said in a press release.

The units will be issued at C$0.25 each and will contain one common share and one warrant. The warrants are exercisable at C$0.50 for thee years.

The strike price represents a 78.57% premium over the July 20 closing share price of C$0.28.

Proceeds will be used for research and development and for working capital.

Isign's shares (TSX Venture: ISD) slipped a cent, or 3.57%, to C$0.27. Market capitalization is C$6.15 million.

Vantex plans unit sale

Vantex Resources plans to raise C$1.7 million via a private placement of units.

The company will sell 1,700 of the units at C$1,000 each. The units will consist of 8,000 flow-through shares, 2,000 common shares and 5,000 warrants.

The warrants are exercisable at C$0.15 for one year. The strike price represents a 15.38% premium over the July 20 closing share price of C$0.13.

Proceeds will be used for working capital and for the development of the Galloway-Pitchvein area.

Vantex's equity (TSX Venture: VAX) dipped a cent, or 7.69%, to C$0.12. Market capitalization is C$2.01 million.

Vantex Resources is a La Prairie, Quebec-based mining company.

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