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This week, we counted 21 financings that went free-trading with over 100% returns. To help you track the market, we've zeroed in on the three we think are most interesting.
One of these is a stunning non-brokered private placement from a decentralized finance company that has climbed tremendously as blockchain-everything becomes all the rage, one comes from a battery metals recycler capitalizing on growing support for green tech, and another comes from a digital gambling company that has been aggressively expanding over the past year. Read on for more details.
DeFi Technologies Inc. (NEO: DeFi) Term Sheet
- Type of financing: Non-brokered
- Gross proceeds: US$50 million
- Number of units: 20 million
- Price per unit: $0.10
- Closing date: 11/16/20
- Yesterday’s closing price (March 25): $1.85
- Gains: 1750%
- Warrants: Full
- Strike Price: $0.25
- Expiry date: 11/16/22
- Net ROI w/ warrants ($100k investment): $3.35 million
Company breakdown:
- Formerly Routemaster Capital Inc.
- Provides exposure at the intersection of the decentralized finance and cryptocurrency markets
- Recently appointed Anthony Pompliano, a managing partner at Pomp Investments overseeing a $500 million portfolio and a prominent bitcoin podcaster, as an advisor
- Shares have risen in 2021 amid a growing interest surrounding decentralized finance in the markets
American Manganese Inc. (TSX-V: AMY) Term Sheet
- Type of financing: Brokered
- Gross proceeds: $213,770
- Number of units: 1.07 million
- Price per unit: $0.20
- Closing date: 11/18/21
- Yesterday’s closing price (March 2): $1.58
- Gains: 690%
- Warrants: Full
- Strike Price: $0.30
- Expiry date: 11/10/22
- Net ROI w/ warrants ($100k investment): $1.33 million
Company breakdown:
- Recycles lithium-ion batteries through its patented RecycLiCo process
- Recently signed a $2.6 million contract for Kemetco Research Inc. to develop a demonstration plant design to increase its capacity from three to five tonnes a day, to be used as a tool for future licensing
- Has planned a plant with 1,000 tonnes per year capacity and an estimated capital cost of US$12 million and $1000 per ton of cathode scrapped
Bragg Gaming Group Inc. (TSX: BRAG) Term Sheet
- Type of financing: Bought deal
- Gross proceeds: $20.7 million
- Number of units: 29.57 million
- Price per unit: $0.70
- Closing date: 11/18/20
- Yesterday’s closing price (March 2): $2.40
- Gains: 242.86%
- Warrants: Half
- Strike Price: $1.00
- Expiry date: 11/17/23
- Net ROI w/ warrants ($100k investment): $342,857
Company breakdown:
- Online B2B gaming solution provider, with gambling platforms, casino content aggregators, sportsbook, lottery, marketing, and operational services
- Increased revenue by 74.6% in 2020
- Also launched 54 B2B operators in 2020
- Has footholds in a wide variety of global markets
- Recently appointed prominent digital sports betting veteran Richard Carter as CEO
