Kona Grill to raise $10.6 million; Qiao Xing plans $15.3 million; Arianne Resources announces C$2 million

By LLuvia Mares

New York, Nov. 2 - Kona Grill, Inc. announced Friday it plans to raise $10.6 million in a private placement of stock.

"With these funds, the company will be going forward for a while, this is a modest deal but it certainly is sufficient enough to get the company through 2009, at least in terms of the capital needs to fund new growth for new restaurants that are going to be built," said Raphael Gross, company investor relations chief vice president of Integrated Corporate Relations.

"Kona Grill, it's a small company but it has shown that it can certainly work in different parts of the country has a very diverse menu with appeal."

Kona issued 650,000 shares at $16.25 each to a group of institutional investors. No warrants were included.

The company's stock (Nasdaq: KONA) closed at $18.03 Friday, down $0.62 from Thursday's $18.65 close.

Cowen and Co., LLC was placement agent.

Proceeds will be used to fund a new restaurant development and for general corporate purposes.

Scottsdale, Ariz.-based Kona Grill is a chain of restaurants.

Qiao Xing plans $15.3 million

Qiao Xing Universal Telephone, Inc. announced Friday it entered into a binding commitment to raise $15.3 million in stock.

The company will issue 1.3 million shares at $11.80 per share and warrants to purchase up to 408,461 shares at $13.00 each to an investor. The warrants expire in four years.

Qiao Xing's stock (Nasdaq: XING) closed at $10.32 on Friday, up $0.02 from Thursday's $10.30 close.

The proceeds will be used for general corporate purposes and equity investments in other companies.

Huizhou, China-based Qiao Xing manufactures and distributes telecommunication products in China.

Arianne to sell C$2 million

Arianne Resources Inc. announced that it plans to conduct a C$2 million private placement of units.

"With this financing, Arianne Resources will be able to progress with these very promising properties in the Opinaca sector, Abitibi and North Shore regions", said Bernard Lapointe, company president and chief executive officer, in a press release.

The company will sell up to C$500,000 in common share units at C$0.125 apiece. Each unit consists of one common share and one warrant. Each warrant is exercisable at C$0.15 for two years.

Arianne also will sell up to C$1.5 million in flow-through units at C$0.15 apiece. Each flow-through unit consists of one flow-through common share and one half-share warrant. Each whole warrant is exercisable at C$0.18 for two years.

Northern Securities Inc. is the lead agent.

Arianne is a gold and uranium exploration company based in Saguenay, Quebec.

Vane Minerals to conduct £5 million

Vane Minerals plc said it plans to raise £5 million in a private placement of shares.

"The board of Vane is extremely pleased with the interest shown in the capital raising by new investors, especially from North America, where our assets are primarily based, and we are looking forward to accelerating drilling with the intention of producing a resource statement early next year," said Matthew Idiens, company executive director, in a press release.

The company will sell 28,571,428 ordinary shares at 17.5p apiece.

The company's stock (London: VML) closed at 19.00p, down 0.60p from Thursday's 19.60p close.

Proceeds will be used to accelerate Vane's breccia pipe drilling campaign in northern Arizona.

Based in London, England, Vane Minerals evaluates, acquires, develops and operates mineral exploration targets, principally gold, silver and uranium targets.

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