Another week, another round of private placements announced this week that investors should know about. Read on for all the details.
1. BriaCell Therapeutics Corp. (TSX-V: BCT)
- Gross Proceeds: US$27.2 million
- Sector: Cancer immunotherapy
- Units issued: 5.17 million
- Type: Special units
- Price: US$5.26
- Warrants: Full; US$6.19; 5.5 years
- Agents: ThinkEquity
- Use of Proceeds: Not stated
BriaCell Therapeutics Corp. (TSX-V: BCT), a company that develops immunotherapies for advanced breast cancer, announced a private placement for US$27.2 million on Thursday. The company plans to issue 5.17 million units at US$5.26 each. Each unit will include a common share and a full warrant, exercisable at US$6.19 for five and a half years.
No doubt BriaCell is working to capitalize on its momentum from its recent survival benefit results announced on Wednesday. We wrote about that announcement earlier this week; click here to read the full article.
Shares of BriaCell jumped 90% in a single day following the release of that data, but have since fallen $1.19 to close at $6.19 on Friday.
2. Alexco Resource Corp. (TSX: AXU)
- Gross Proceeds: $25 million (bought deal)
- Sector: Silver
- Units issued: 7.14 million
- Type: Common shares
- Price: $3.50
- Warrants: None
- Agents: Unnamed
- Use of Proceeds: Ongoing development
Silver miners Alexco Resource Corp. (TSX: AXU) announced a $25 million bought deal on Thursday. The company plans to issue 7.14 million common shares of the company at $3.50 each, through a syndicate of unnamed underwriters.
Proceeds for the deal will be used for the ongoing development of the company's Keno Hill silver project, for which the company recently filed an updated technical report increasing its reserves by 22%.
Shares of Alexco are down 35 cents since announcing the bought deal, closing at $3.54 on Friday.
3. Noront Resources Ltd. (TSX-V: NOT)
- Gross Proceeds: $6.1 million
- Sector: Battery metals
- Units issued: 21.66 million
- Type: Common shares
- Price: $0.38
- Warrants: None
- Agents: Non-brokered
- Use of Proceeds: Working capital
Noront Resources Ltd. (TSX-V: NOT), a junior miner focused on battery metals in the Ring of Fire, announced a non-brokered private placement for up to $6.1 million. The company plans to issue 21.66 million common shares at 38 cents each.
Noront says it has "an immediate need for funding," and plans to use the proceeds for working capital. Any remaining funds will go toward its projects in the Ring of Fire.
Shares of Noront are down half a cent since announcing the private placement.
