Sage Gold Inc. Announces Closing of Second and Final Tranche of Private Placement
Sage Gold Inc. Announces Closing of Second and Final Tranche of Private Placement
– Momentum Public Relations –
Press Release: June 7, 2016
Sage Gold Inc. (TSX VENTURE:SGX) is pleased to announce that, further to its press release dated May 26, 2016, it has completed the second and final tranche closing of its non-brokered private placement (the “Offering“). The Company will be issuing 5,610,000 Units at a price of $0.05 per Unit for gross proceeds of $280,500. Each unit will consist of one common share of the Corporation (a “Common Share”) plus one half (1/2) Common Share purchase warrant (a “Warrant”). Each full Warrant entitles its holder to purchase one Common Share (a “Warrant Share”) at an exercise price of $0.10 for a period of 24 months following the Closing Date, whereupon the Warrants will expire.
The securities issued pursuant to the Offering will be subject to a four (4) month and one (1) day statutory hold period. In connection with the Offering, a finder’s fee of $16,200 will be paid in cash to certain eligible finders on the second tranche. The Corporation intends to use the net proceeds from the Offering for general working capital purposes.
The offering was over-subscribed and the total units issued were 10,695,000 with total proceeds of $534,750. The outstanding shares after this financing are 36,640,981.
If the Corporation’s shares trade at or above $0.20 per share for 20 consecutive trading days, the Corporation may, at any time after the expiry of the statutory hold period, accelerate the expiration of the Warrants upon not less than 30 days written notice by the Corporation, and thereafter repurchase any unexercised Warrants at $0.001 per underlying common share.
One (1) insider of the Company participated in the Offering, thereby making the Offering a “related party transaction” as defined underMultilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“). Mr. Peter Freeman, a Director of the Company, purchased, 100,000 Units pursuant to the Offering and will own or control 561,667 shares or approximately 1.5{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the total shares issued and outstanding after the completion of the Offering. The Offering was exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the Company is not listed under a specified market (as set out in section 5.5(b) of 61-101) and the fair market value of the shares issued to, nor the consideration paid by Mr. Freeman exceeded 25{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the Company’s market capitalization. No new insiders were created, nor has any change of control occurred as a result of the Offering.
About Sage Gold
The Company is a mineral exploration and development company which has primary interests in near-term production and exploration properties in Ontario. Its main properties are the Clavos Gold property in Timmins and the 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} owned Lynx copper, gold, silver property and other exploration properties in the Beardmore-Geraldton Gold Camp. Technical reports and information relating to the properties can be obtained from the System for Electronic Document Analysis and Retrieval (SEDAR) website at www.sedar.com and www.sagegoldinc.com.
Equitas signs $6M (U.S.) term sheet with Cartesian
Equitas Resources Corp. Signs Long Term Funding Term Sheet with Cartesian Royalty Holdings Pte. Ltd. for a US$6.0M Revolving Gold Prepayment Facility and Equity Finance Package
– Momentum Public Relations – June 7th, 2016
Equitas Resources Corp. (“Equitas” or the “Company”) (TSXV: EQT) (US: EQTRF) (Frankfurt: T6UN) is pleased to announce that it has entered into a binding term sheet with Cartesian Royalty Holdings Pte. Ltd. (“CRH”), an affiliate of Cartesian Capital Group, consisting of a US$5 million revolving gold prepayment loan facility (“Gold Prepay”) and a US$1 million equity private placement investment (together the “Finance Package”).
Key Finance Package Points:
- This funding is intended to cover the projected development and acquisition expenditure of Equitas for up to 5 years.
- The equity portion raised is likely to be channelled towards exploration, grade control drilling, and other costs to prove up further gold resources at our flagship Cajueiro Project, and other prospects.
- The debt financing aspect of the Gold Prepay provides protection against shareholder dilution. CRH has committed to be a long-term partner while we develop the Cajueiro Project.
- The Finance Package is intended to help Equitas become cash-flow generative and to move towards its 5-year strategic goal of becoming a mid-sized gold producer.
- CRH will have board representation for as long as they have material involvement with Equitas. Equitas hopes to benefit from the breadth of their strategic and financial experience.
Chris Harris, President and CEO of Equitas, states “we are very pleased to have agreed to this innovative financing with Peter Yu and the CRH team. Upon closing, the funding provided should secure the near- and medium-term growth plans of Equitas, and help us towards our goal to become a profitable, cash-flow generating, self sustaining mid-tier gold producer in Brazil, with a potentially significant development portfolio. We look forward to working together with Cartesian on building the value of Equitas for its shareholders”.
“CRH and Equitas share a similar philosophy in developing highly scalable gold assets with near-term production and low all-in sustaining costs,” said Peter Yu, Founder and Managing Partner of Cartesian Capital Group. “We are excited to be partners with Chris Harris and the team at Equitas in this unique opportunity in Brazil, and look forward to helping grow the business with a focus on efficient and profitable gold production.”
The Finance Package: – Highlights
The package consists of a US$5 million revolving secured gold prepay facility with a 5-year term, and a US$1 million equity private placement agreement.
1. US$5 million revolving secured Gold Prepay.
The Gold Prepay is a secured loan to be repaid in gold at a pre-agreed volume and price. For every US$1 million drawn down by Equitas, repayment will require 2,100oz Au if within 1 year of drawdown, or 2,300oz Au if repayment takes longer than 1 year but within 3 years. If the full US$5 million is drawn, repayments would range between 10,500 ounces of gold and 11,500 ounces of gold.
Drawdown is permitted on meeting development milestones. The first drawdown shall be for US$250,000 and must be advanced within 90 days. It will be advanced with the first US$250,000 equity private placement. After the first drawdown, the minimum loan drawdown size will be US$1 million.
Each drawdown has up to 36 months to be repaid, with payments starting after 6 months. Any repayments made within 1 year of drawdown can be re-drawn again, providing Equitas with a “revolving” potential borrowing capacity of over US$5 million.
Security is over the existing assets of Equitas, and any new assets that are funded for development by the Gold Prepay. There are constraints over raising further debt, or selling assets, unless CRH gives its approval.
A 0.5{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Net Smelter Royalty (“NSR”) shall be receivable by CRH from the earlier of 42 months following closing, and the full repayment of the gold prepay facility. The NSR is payable on production from the existing Equitas assets at financial close, and on any new assets acquired or developed with the gold prepay funds. The NSR is fully re-purchasable by Equitas in stages for a total of US$4 million.
2. US$1 million equity private placement
The private placement is for Equitas units, each of which comprises one Equitas share and one Equitas warrant. Pricing is CDN$0.07 per unit. Shares are subject to an 18 month lockup from June 6, 2016. Warrants have a 24-month expiry following the closing date, a strike price of CDN$0.117 per share and are not subject to a lockup.
Equity issue timing will be:
(i.) US$250,000 on first gold prepay drawdown, on completion of the gravity plant, and
(ii.) US$750,000 on second drawdown under the Gold Prepay for the first Carbon-in-Leach (“CIL”) plant.
An upfront loan establishment fee of 2{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the full finance package, i.e. an amount of US$120,000 will be issued to CRH in Equitas units on first closing.
3. Use of Proceeds:
The proceeds of the Gold Prepay will be focused on our near- and medium-term development programme, including the proposed CIL intended to be developed later this year, as well as overhead costs. The proceeds of the equity placement are intended to be applied to future exploration, overhead costs, and new projects.
The Gold Prepay and the equity placement are both subject to definitive documents being completed and to TSX Venture Exchange approval.
About Cartesian Capital Group
Cartesian Capital Group, LLC is a global private equity firm with proven expertise in assisting closely-held companies develop into global market leaders. Cartesian manages more than $2.4 billion in capital and has offices in New York, Sao Paulo, Shanghai, Warsaw, and Bermuda.
- Published in Blog, Equitas Resources, Mining, News Home
Namaste Launches Online Investor Relations Activities with AGORACOM
Namaste Launches Online Investor Relations Activities with AGORACOM
– Momentum Public Relations –
Press Release: June 6, 2016
Namaste Technologies Inc. (CSE:N)(OTC PINK:NXTTF)(FRANKFURT:M5BQ) reports that it is implementing an online financial marketing and awareness program through AGORACOM. As a Company with significant online experience, Namaste’s management team views the utilization of online financial media portals as an excellent means to increase awareness in the financial community as well as enhance overall organic content ranking and in-bound marketing efforts associated with its e-commerce platforms.
Namaste will receive exposure through content brand insertions on the AGORACOM network and extensive search engine marketing. In addition, Namaste will receive digital sponsorship through AGORACOM TV, the AGORACOM home page, the AGORACOM Twitter account and other social media applications.
Namaste intends to issue shares for services to AGORACOM in exchange for the online advertising, marketing and branding services (the “Services”). The shares for services will result in a total share issuance of C$40,000, with an initial issuance at signing of the agreement and issuances in quarterly increments over 12-months, based on the closing price of the shares of Namaste on the Canadian Securities Exchange on the first trading day following each period for which the Services were provided by AGORACOM.
The term of the Agreement is for 12 months effective immediately. Namaste will issue a press release after the issuance of shares under the terms of the agreement. The agreement is subject to exchange approval.
Management Commentary
Mr. Sean Dollinger, President and CEO of Namaste, comments: “As an executive with over 15-years of e-commerce experience, I understand the potential to address a mass audience with online communication tools and will seek to leverage these skills to extract the maximum value possible from our online investor relations activities. I look forward to working with AGORACOM and their subscribers.”
About AGORACOM
AGORACOM is the pioneer of online investor relations, online conferences and online branding services to North American small and mid-cap public companies, with more than 250 companies served. AGORACOM is the home of more than 808K investors that visited 5.6 million times and read 52.4 million pages of information every year (Average 2008 – 2015).
AGORACOM traffic ranks within the top 0.5{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of all websites around the world. These traffic results are independently tracked and verified by Google analytics. AGORACOM traffic can be attributed to its strategy of maintaining the cleanest, moderated small-cap discussion as a result of implementing the first ever Investor Controlled Stock Discussion Forums.
About Namaste Technologies Inc.
Namaste Technologies Inc. is an emerging leader in vaporizer and accessories space. Namaste has over 30 e-commerce retail stores in 20 countries, offers the largest range of brand name vaporizers products on the market and is actively manufacturing and launching multiple unique proprietary products for retail and wholesale distribution. The Company is currently focused on expanding its product offering, acquisitions and strategic partnerships, and entering new markets globally.
On behalf of the Board of Directors
Sean Dollinger, Chief Executive Officer
Learn more by clicking here: www.namastetechnologies.com
- Published in Life Sciences, Namaste Technologies, News Home
Nouveau Monde Announces a Private Placement of Units and Flow-Through Shares
Nouveau Monde Announces a Private Placement of Units and Flow-Through Shares
– Momentum Public Relations –
Press Release: June 2, 2016
Nouveau Monde Mining Enterprises Inc. (TSX VENTURE:NOU)(OTC PINK:NMGRF)(FRANKFURT:NM9) announces two non-brokered private placements for a maximum of $1,500,000 (the “Offering”) by a combination of units (the “Units”) at a price of $0.25 per Unit and flow-through shares at a price of $0.30 per flow-through share. The Corporation intends to complete the Offering on or before June 15, 2016 (the “Closing”).
Each unit is comprised of one common share of the Corporation (the “Common Share”) and one-half of one common share purchase warrant (the “Warrant”). Each Warrant shall entitle the holder thereof to subscribe for one Common Share of the capital stock of the Corporation, at a price of $0.35 per Common Share, for a period of 12 months following the Closing. The Common Shares, the flow-through shares and the Warrants are subject to a hold period of 4 months and a day from Closing under Canadian Securities legislation.
The proceeds of the Offering will be used by Nouveau Monde for its working capital and to incur exploration expenses on the Matawinie property.
The Offering is subject to the receipt of all necessary regulatory approvals. The Corporation may pay, at Closing, fees to dealers duly registered in accordance with applicable securities legislation a cash commission up to 6{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the gross proceeds of the Offering and a number of non transferable compensation options of the Corporation up to 6{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the aggregate number of Common Shares comprised in the Units and the flow-through shares sold pursuant to the Offering.
The securities issued under the first tranche of the Units Offering have not been registered under the United States Securities Act of 1933 (the “Act”) or any state securities laws and may not be offered or sold absent registration under the Act and applicable state securities laws or an applicable exemption from the registration requirements thereof. This news release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction or an exemption there from.
About Nouveau Monde
Nouveau Monde is a mining exploration company holding a large portfolio of base and precious metals and industrial minerals in the province of Québec. Our business model is based on the generation of projects in new underexplored territories using the most advanced remote sensing and geophysical tools available in the industry. The company is now focusing on the development of its first major discovery on the Matawinie graphite project.
Learn more by clicking here: www.nouveaumonde.ca
- Published in Mining, News Home, Nouveau Monde Mining
Mobi724 Global Solutions Inc. (CSE:MOS) Releases Q1 Revenues Up 630 and Operating Loss Decrease by 30
Mobi724 Global Solutions Inc. (CSE:MOS) Releases Q1 Revenues Up 630{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} and Operating Loss Decrease by 30{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}
– Momentum Public Relations –
Press Release: June 1, 2016
MOBI724 Global Solutions Inc. (“MOBI724” or the “Company”) (CSE:MOS), a Fintech technology leader in the digital incentives, couponing and payment space, has filed its Q1 financial results for quarter ending on March 31 -2016.
Highlights:
- Revenues year over year increase for Q1 increase 630{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} to 557K versus 88k.
- The acquisition of IQ 7/24 is now fully consolidated in Q1.
- Notwithstanding the acquisition of IQ 7/24 Inc. completed in Q4 with the addition SG&A of 173k: $1.256M in Q1 2016 compared to $1.083M in Q1 2015.
- Decrease operating lost by 30{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} to (699k) versus (995k) despite an increase by 173k in operating costs in the consolidated phase.
(in $’000) | March 31, 2016 | March 31, 2015 | |||
Sales | 557 | 88 | |||
Operating Expenses | 1,256 | 1,083 | |||
Operating Loss | (699) | (995) | |||
Other Expenses (Income) | 298 | 3,371 | |||
Income Tax expense (recovery) | (34) | (34) | |||
Net Loss | (964) | (4,332) | |||
Loss per share | |||||
Basic and Diluted | $(0.01) | $(0.10) | |||
- During the three month period ended March 31, 2016, a total of 3,030,303 warrants were exercised for a cash consideration of $250,000 (exercise price at $0.0825)
- The Company is progressing in a new round of financing of $3 million which is expected to be concluded in Q2 or beginning of Q3 2016.
“We are starting to see the beginning of the results of our strategy that we put forward in mid-year 2015” said Marcel Vienneau, CEO. “The company continues to make material progress in its sales funnel globally and continues to make material progress in its funding plan. This have been the best quarter in the company’s history. We now have traction with our 3 turnkey solutions and this confirms the value proposition we are bringing to the market globally”.
About Mobi724 Global Solutions
MOBI724 Global Solutions Inc. (CSE:MOS), a Fintech corporation based in Montreal (Canada), offers a unique and fully integrated suite of solutions PAYMENT – COUPONING – LOYALTY (all in one), is a leader in the Fintech industry.
Our vision is to enhance the value of commoditized payment transactions to the players in this eco- system (card associations, banks, mobile carriers and retailers) by adding layers of intelligence to these card-linked transactions (i.e. smart transactions) in a seamless manner for all the players in the eco-system.
MOBI724 Global Solutions unleashes the true potential of both payment and card-linked couponing/rewards transactions for both online and offline points of sale (POS).
The Corporation provides its customers with full and comprehensive traceability and enriched consumer data through its offering. Its solutions enables card associations, retailers, manufacturers, offer providers, mobile operators and card issuers to create, manage, deliver and “track and measure” incentive campaigns worldwide to ANY mobile device and allow its redemption at ANY point of sales.
Our credit and debit EMV payment solutions will allow banks to process end to end EMV transactions, focusing on authentication, approved security and quick merchant adoption which allows the users to process payments with a wide range of devices over a secure and seamless transaction.
MOBI724’s PCI and EMV cloud-based switch, with their device agnostic connectivity, simplifies deployment and integration, and introduces new payment and digital incentives solutions to the market enabling multi layered intelligent transactions therefore SMART TRANSACTIONS.
- Published in Financial Technology, Mobi724 Global Solutions, Mobile Technology, News Home, Technology