3 Financings You Need to Know About This Week (Aug. 24-28)

August 28, 2020 03:47 PM PST

It's been a bit of a slow week for new financings, but there's still plenty of exciting deals. Here are three that should be on your radar this week.

1. Aftermath Silver Ltd. (TSX-V: AAG)

  • Gross Proceeds: $15.6 million
  • Sector: Precious metals
  • Units issued: 24 million
  • Type: Common shares
  • Price: $0.65
  • Warrants: None
  • Agents: Non-brokered
  • Use of Proceeds: Ongoing exploration
  • Press release

Canadian silver junior Aftermath Silver Ltd. (TSX-V: AAG) announced a $12.5 million non-brokered private placement on Thursday and upsized it to $15.6 million the following day. The deal includes a large investment from billionaire mining speculator Eric Sprott.

Under the amended terms of the deal, the company plans to issue 24 million common shares at 65 cents each. Mr. Sprott has agreed to purchase shares such that he will hold 19.9% of Aftermath's outstanding shares after the deal closes.

Shares of Aftermath Silver have risen 8 cents since the deal was originally announced, and at the time of writing are trading at 88 cents per share.

Read our full article about the Aftermath financing for more details on the deal, the company, and its operations.

2. Gatekeeper Systems Inc. (TSX-V: GSI)

  • Gross Proceeds: $5 million
  • Sector: Public transportation video tech
  • Units issued: 5 million
  • Type: Special units
  • Price: $1.00
  • Warrants: Full; $1.10; Two years
  • Agents: Non-brokered
  • Use of Proceeds: Growth initiatives
  • Press release

Gatekeeper Systems Inc. (TSX-V: GSI), a BC-based company that develops video and other technologies for public transit and smart cities, announced a $5 million non-brokered private placement on Wednesday.

The company plans to issue five million units at a dollar each. Each unit will include a common share and a full purchase warrant, exercisable at $1.10 for two years following the deal's close.

Gatekeeper has seen a spike in activity since announcing the financing; on Thursday, stock in the company rose 24 cents on almost 3.9 million shares. 

The company has been on the rise since June amid a smattering of contracts for its video recording tech as well as the launch of a system that measures the temperature of students boarding buses.

At close of market Friday, shares of Gatekeeper were trading at 90 cents, up 300% since early June.

3. Monarch Gold Corp. (TSX: MQR)

  • Gross Proceeds: $10 million
  • Sector: Precious metals
  • Units issued: 6.95 million; 8.77 million
  • Type: Flow-through units
  • Price: $0.72; $0.60
  • Warrants: Half; $0.60; Two years
  • Agents: Stifel GMP, Sprott Capital Partners LP
  • Use of Proceeds: Flow-through expenses
  • Press release

Monarch Gold Corp. (TSX: MQR) announced a $7 million bought deal on Tuesday, upsizing it to $10 million the same day.

Under the upsized deal, a syndicate of underwriters led by Stifel GMP and Sprott Capital Partners LP have agreed to purchase 6.95 million flow-through shares at 72 cents each and another 8.77 flow-through shares at 60 cents each. All units will include a half warrant, with full warrants exercisable at 60 cents for two years.

Read more details about Monarch in our full article on its financing here.

You May Like