CALGARY, ALBERTA–(Marketwired – May 20, 2016) – BACANORA MINERALS LTD. (“Bacanora” or the “Company”) (TSX VENTURE:BCN) (AIM:BCN), the London and Canadian listed lithium company which is developing the Sonora Lithium Project in northern Mexico(1), is pleased to announce that it has raised £7,702,500 (approximately US$11.2 million / approximately CAD $14.7 million) via the placing of 9,750,000 units (the “Placing Units”) at a price of 79 pence (approximately CAD $1.48) per Placing Unit (the “Placing”) with certain funds and accounts managed by BlackRock (“BlackRock”). Each Placing Unit is comprised of one new common share of the Company (a “Placing Share”) and 0.3 of one common share purchase warrant, with each whole warrant (a “Placing Warrant”) being exercisable into one common share at a price of 79 pence at any time subsequent to July 25, 2016, but on or before September 30, 2016. Accordingly, an aggregate of 9,750,000 Placing Shares and 2,925,000 Placing Warrants are issuable under this Placing. In the event that the Placing Warrants are fully exercised, the total proceeds received by the Company from the Placing will be approximately £10,000,000 (approximately US$14.6 million / approximately CAD $19.1 million). The Placing is in line with the Company’s strategy to increase the institutional representation of its shareholder register and follows the securing of Bacanora’s first major institutional investor in November 2015.
Month: May 2016
Silver Bull Announces Closing of Initial Tranche of Private Placement for CDN$565,435
, BC–(Marketwired – May 20, 2016) –
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Silver Bull Resources, Inc. (TSX:SVB)(OTCQB:SVBL) (“Silver Bull” or the “Company“) is pleased to announce that it has completed the initial tranche of its previously announced non-brokered private placement (the “Private Placement“). The initial tranche consisted of 4,349,500 CDN$ units (the “CDN$ Units“) of the Company at a price of CDN$0.13 per CDN$ Unit for aggregate gross proceeds of approximately CDN$565,435. Each CDN$ Unit consists of one common share in the capital of the Company and one Common Share purchase warrant (a “CDN$ Warrant“). Each CDN$ Warrant entitles the holder thereof to acquire one common share at a price of CDN$0.16 until the date that is 12 months following closing of the Private Placement. If the closing price of the common shares of the Company on the OTCQB Venture Marketplace is US$0.18 or higher for five consecutive trading days, then the CDN$ Warrant will expire thirty trading days from such fifth consecutive day.
Hecla Declares Preferred Dividend
COEUR D’ALENE, Idaho–(BUSINESS WIRE)–Hecla Mining Company (NYSE:HL) today announced its Board of Directors has declared the regular quarterly dividend of $0.875 per share on the outstanding Series B Cumulative Convertible Preferred Stock, on a total of 157,816 shares outstanding. This represents a total amount to be paid of approximately $138,000. The cash dividend is payable July 1, 2016, to shareholders of record on June 15, 2016.
IMPACT Silver Announces Private Placement
VANCOUVER, BRITISH COLUMBIA–(Marketwired – May 20, 2016) – IMPACT Silver Corp. (TSX VENTURE:IPT) (“IMPACT” or the “Corporation”) is pleased to announce a brokered private placement (the “Private Placement”) of a minimum of $3,000,000 worth of units (each a “Unit”), at a price of $0.57 per Unit (a minimum of 5,263,158 units). Each Unit consists of one common share and one-half of one warrant. Each whole warrant (each a “Warrant”) entitles the holder to purchase one common share (each a “Share”) per Warrant at a price of $0.90 per Share for a period of 36 months from the date of issuance.
Americas Silver Corporation Announces C$20 Million Financing With Strategic Shareholders
TORONTO, ONTARIO–(Marketwired – May 20, 2016) –
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Americas Silver Corporation (TSX:USA)(OTCQX:USAPF) (the “Company”) is pleased to announce a private placement with Eric Sprott and other strategic shareholders led by GMP Securities L.P. and Medalist Capital Ltd. The Company intends to issue up to approximately 67 million units (the “Units”) at a price of C$0.30 per Unit, for gross proceeds of up to C$20 million (the “Offering”).
Telferscot to Acquire Silver/Gold Mines in Mexico & Strategic Supply Alliance
Telferscot Resources Inc. (CSE:TFS) (“Telferscot” or the “Company”) is pleased to announce the signing of a binding Letter of Intent (“LOI”) to acquire the issued and outstanding shares of Auxico Resources Canada Inc.(“Auxico”). The LOI calls for the issuance of up to 23,500,000 shares of the Company following a consolidation of Telferscot shares to equal not more than 3,000,000 issued and outstanding immediately prior to completion. The Company currently has 104,856,961 shares outstanding following the recent Return of Capital (see Press Releases dated March 24, 2016 and April 29, 2016).
Auxico’s principal project is the Zamora Property, located in the State of Sinaloa, Mexico approximately 85km southeast of the city of Culiacan. Zamora covers 3,376 hectares and hosts 15 Silver/Gold mines and exploration prospects. Historical workings at Zamora date back to the 1800’s and in 1982 the Consejo de Recursos Minerales “CRM” (now referred to as the Servicio Geologico Mexicano “SRM” or Geological Services of Mexico) partially restored remaining mine infrastructure on the property. Details on historic resources at Zamoro will be provided in due course.
Telson Resources Inc. Announces Appointment of New Chief Financial Officer
VANCOUVER, BRITISH COLUMBIA / TheNewswire / May 19, 2016 – Telson Resources Inc. (TSX Venture – TSN) (“Telson” or the “Company”) is pleased to announce the appointment of Mr. Omar Garcia Abrego, CPA, CA to the position of Chief Financial Officer (“CFO”), effective immediately.
Mr. Garcia Abrego will succeed Donald Crossley, who has stepped down from the position of Chief Financial Officer. Mr. Crossley will remain available to the Company as a consultant during a transition period in 2016 and as an advisor in subsequent years.
Marlin Gold Commences Mining at the High Grade HS Zone and Intersects 9.73 g/t Gold Over 7.5 Meters at the La Trinidad Open Pit Heap Leach Gold Mine in Sinaloa, Mexico
Marlin Gold Mining Ltd. (“Marlin” or the “Company”) (TSX VENTURE:MLN) is extremely pleased to announce that it has commenced mining at the high grade HS Zone at its wholly owned La Trinidad mine in Sinaloa, Mexico (“La Trinidad”). The past one and a half years of commercial mining has been in preparation for this milestone, and over the course of the next weeks and months, La Trinidad will transition from being a high cost operation to become one of the lowest cost gold mines in the world.
Additionally, Marlin has completed an exploration program at La Trinidad. New drill intersections described below focused on the south side of the Taunus pit. Last year, Management deferred mining activities towards the south so that the Company could reach the high grade HS zone on an accelerated basis; as a result of this decision, the Company incurred $22.6 million in aggregate write-downs during 2015 as approximately 40,000 ounces were removed from the La Trinidad mine plan. Given the successful drill campaign on the south side of the deposit, the Company has recommenced mining on the south side of the Taunus pit. An updated life of mine plan is being engineered, and Management believes that there is a high likelihood that some, if not all, of the previously sustained write downs will be written back up over the course of 2016.
Americas Silver Corporation Announces Results of Shareholder Meeting
http://www.americassilvercorp.com/s/NewsReleases.asp?ReportID=749533
Toronto, Ontario – May 17, 2016 – Americas Silver Corporation (TSX: USA)(OTCQX: USAPF) (the “Company”) is pleased to report that shareholders voted in favour of all items of business including the election of each of the nominees listed in its management information circular dated April 7, 2016 (the “Circular”) at its annual and special meeting of shareholders held on May 17, 2016 (the “Meeting”).
Marlin Gold Mining Successfully Completes Rights Offering to Shareholders
VANCOUVER, BRITISH COLUMBIA–(Marketwired – May 17, 2016) –
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES
Marlin Gold Mining Ltd. (TSX VENTURE:MLN) (“Marlin” or the “Company“) is pleased to announce the completion of its rights offering (the “Rights Offering“), which expired at 5:00 p.m. (Eastern time) on May 16, 2016. The shareholders of Marlin, including Wexford Spectrum Trading Limited (“WST“) and Wexford Catalyst Trading Limited (“WCT“), the Company’s largest shareholders, exercised rights to acquire 43,340,680 common shares of the Company (the “Common Shares“). The 43,340,680 Common Shares issued by the Company pursuant to the Rights Offering were issued at a price of $0.30 per Common Share for gross proceeds of $13,002,204. Following the closing of the Rights Offering, there were a total of 158,854,219 Common Shares issued and outstanding.