Tag: Investor’s Corner

Westminster Resources Ltd. is pleased to announce that it has retained the services of Mark Carruthers to provide in-house investor relations on a month-to-month basis with an effective date of November 1, 2017. Mark has 25 years of market experience including over eight years in investor relations and has provided marketing and support to other junior public companies. As consideration, the company has agreed to pay a monthly fee of $3,000 and intends to grant Mr. Carruthers 250,000 stock options, exercisable for a period of two years from date of granting at a price to be determined. These options are granted subject to the company’s Stock Option Plan, and will have a vesting provision of 25% of the options upon the date of the grant, and 25% on the first business day of each of the subsequent three quarters. The options are subject to regulatory approval and the rules and regulations of the TSX Venture Exchange.

During the quarter the Scoping Study into recommencing mining at its Plomosas mine in Mexico was completed with positive results at a base-case level as well as several potential areas where returns might be improved.

Minera Alamos Inc. and Corex Gold Corporation are pleased to announce that they have entered into a definitive arrangement agreement dated January 30, 2018 to combine the two companies, creating a well-funded, multi-asset, Mexican gold development company. The combined company will have a market capitalization of approximately C$50 million, approximately C$6 million in cash and a portfolio of three high quality gold-silver development assets, each offering near-term production potential and low capital cost advantages.

Canuc Resources Corporation is pleased to announce that it has completed a vertical amalgamation with its wholly-owned subsidiary, Santa Rosa Silver Mining Corporation, pursuant to subsection 177 of the Business Corporations Act. The Vertical Amalgamation did not require shareholder approval and was completed to simplify the corporate structure of Canuc. No securities were issued in connection with the vertical amalgamation. The shares of the subsidiary were cancelled without any repayment of capital in respect of them.

Orla Mining Ltd. announced today that it has entered into an agreement with a syndicate of underwriters led by GMP Securities L.P. pursuant to which the Underwriters will purchase, on a bought deal basis, 14,560,000 units of the Company at a price of C$1.75 per Unit for aggregate gross proceeds to the Company of C$25,480,000.

“After a turn-around year in 2017, we are expecting the San Francisco Mine to return to consistent gold production at 90,000 to 100,000 ounces this year compared to 83,558 ounces in 2017.” said Greg McCunn, Chief Executive Officer. “In 2017 we undertook a significant waste stripping campaign to open up the main pit. As a result, we now have increased mining flexibility and the ability to deliver consistent ore feed to the leach pads.

“Premier remains focused on increasing future production by advancing multiple projects” commented President & CEO Ewan Downie. “A substantial portion of this budget is allotted to exploration, a long-standing commitment of the Company that has resulted in several significant discoveries and a peer-best development pipeline.”

Paul Carroll, CEO of War Eagle commented, “This transaction is ideal for both parties – it combines a superb, newly amalgamated land position with critical exploration capital and a first-class management team.”

Orla Mining Ltd. is pleased to announce that it has agreed with a syndicate of underwriters led by GMP Securities L.P., and including Paradigm Capital Inc., Cormark Securities Inc., TD Securities Inc., Desjardins Securities Inc. and Raymond James Ltd. to increase the size of its previously announced C$25,480,000 bought deal offering. Pursuant to the upsized deal terms, the Underwriters have agreed to purchase, on a bought deal basis, 15,288,000 units of the Company at a price of C$1.75 per Unit for aggregate gross proceeds to the Company of C$26,754,000.

Torex Gold Resources Inc. has announced today that it has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets, under which the underwriters have agreed to buy on a bought deal basis 4,370,000 common shares at a price of C$12.60 per Common Share for gross proceeds of approximately C$55 million. The Company has granted the Underwriters an option, exercisable at the offering price for a period of 30 days following the closing of the Offering, to purchase up to an additional 15% of the Offering to cover over-allotments, if any. The Offering is expected to close on or about February 7, 2018 and is subject to the Company receiving all necessary regulatory approvals.