Here’s your new weekly roundup of announced equity financings, courtesy of PrivatePlacements.com, the only database that tracks every financing, every day.
1. Cybin Inc. (NEO: CYBN)
- Gross Proceeds: US$30 million
- Sector: Psychedelics
- Units issued: 66.67 million
- Type: Special units
- Price: US$0.45
- Warrants: Full; US$0.51; 6.5 years
- Agents: Alliance Global Partners
- Use of Proceeds: Program advancement
Company breakdown:
Cybin Inc. (NEO: CYBN) is a biopharmaceutical company aiming to tap psychedelic-based therapies to treat mental health. It's currently developing CYB003, a proprietary psilocybin analogue for the treatment of depression, and CYB004, a proprietary DMT molecule, for generalized anxiety disorder.
The company recently released data from its ongoing phase 2 study for CYB003, which indicated a clinically significant reduction of depression symptoms three weeks after a single 12 milligram dose. It also announced its Q2 financial results, with $18.1 million in cash on hand at Sept. 30.
2. Laramide Resources Ltd. (TSX: LAM)
- Gross Proceeds: AU$12 million
- Sector: Uranium
- Units issued: 20 million
- Type: Common shares
- Price: $0.60
- Warrants: None
- Agents: Bell Potter Securities
- Use of Proceeds: Project development
Company breakdown:
Laramide Resources Ltd. (TSX: LAM) is a uranium junior focused on projects in Australia and the western U.S. Its current primary focus is the Westmoreland project in northwest Queensland, which has a 2016 Preliminary Economic Assessment with an indicated resource of 36 million pounds of uranium and an additional inferred resource of 15.9 million pounds.
The company has drilled 4,108 metres so far at Westmoreland. The most recent results include 2.8 metres of 392 ppm U3O8 and 2.55 metres of 439 ppm U3O8.
Shares of the company have risen 89% since the company began drilling in July.
3. Li-FT Power Ltd. (CSE: LIFT)
- Gross Proceeds: $10.81 million
- Sector: Lithium
- Units issued: 1.25 million
- Type: Flow-through shares
- Price: $8.65
- Warrants: None
- Agents: Canaccord Genuity
- Use of Proceeds: Ongoing exploration
Company breakdown:
Li-FT Power Ltd. (CSE: LIFT) is a lithium company focused on its flagship Yellowknife project in the Northwest Territories. The company has been steadily drilling Yellowknife, with recent intervals including 22 metres of 1.35% Li2O, 21 metres of 1.4% Li2O, and 18 metres of 1.75% Li2O over 14,000 metres of drilling. Its drill program is completed, with 34,238 metres drilled, and is releasing assays regularly.
4. Trillion Energy International Inc. (CSE: TCF)
- Gross Proceeds: $10 million
- Sector: Oil & gas
- Units issued: 33.33 million
- Type: Common shares
- Price: $0.30
- Warrants: None
- Agents: Echelon Wealth Partners
- Use of Proceeds: Capital program
Company breakdown:
Trillion Energy International Inc. (CSE: TCF) is an oil and gas junior aimed at production in Europe and Turkey, with assets in Turkey. It has one of the Black Sea's first natural gas development project, and 50 percent interest in three other oil exploration zones in southeast Turkey.
It is currently producing 14.4 Mmcf/d at its SASB gas field.
5. Founders Metals Inc. (TSX-V: FDR)
- Gross Proceeds: $5 million (bought deal)
- Sector: Precious metals
- Units issued: 6.25 million
- Type: Common shares
- Price: $0.80
- Warrants: None
- Agents: BMO Capital Markets
- Use of Proceeds: Ongoing exploration
Company breakdown:
Founders Metals Inc. (TSX-V: FDR) is a gold junior with a flagship project in Suriname, and other projects in the South American Guiana Shield. Antino, its flagship, has historically produced 500,000 ounces of gold via surface and alluvial mining.
The company has recently been drilling the project, hitting intervals including 26 metres of 6.35 g/t Au.
