Tag: Investor’s Corner

Starcore International Mines Ltd. announces that the Board of Directors has approved a resolution consolidating the Company’s share capital on the basis of every four shares of the Company being consolidated to one share.

Santacruz Silver Mining Ltd. announces that the Company has agreed in principle to terms whereby it will receive US$9.5 million under a senior secured loan facility with a lender syndicate headed by CrediPresto Group and including two other institutions.

All matters tabled for consideration, as outlined on the Company’s Notice of Annual General Meeting, were unanimously approved at the Meeting. A brief list of the most important items of business conducted at the Meeting are as follows:

A$5.22 million placement to underpin resource drilling and pre-feasibility work

Significant support from major North American institutions

Substantial shareholder Mr Mark Creasy continues support with a further A$1 million investment

Millrock President & CEO Gregory Beischer commented, “For this strategic financing – which will be used to acquire several high-potential projects – we were approached by a group of financiers that have previously invested in Millrock. While we are cognizant of the dilution this strategic financing will cause, we believe that the property acquisitions that we intend to make with the proceeds of this financing will ultimately pay off for all Millrock shareholders.”

Net proceeds from the private placement will be used to augment the Company’s current cash of $5.1 million and for general corporate purposes. The Company’s total cash position at closing is approximately $7.6 million.

Oroco Resource Corp. announces that, further to its news release of September 28, 2015, it has agreed with Goldgroup Mining Inc. to extend until January 16, 2016 the deadline for Goldgroup to enter into a formal debt repayment agreement with the Company. Goldgroup will pay US$25,000 to the Company in consideration for the extension. Remaining in place is the $100,000 break fee payable by Goldgroup if the formal debt payment agreement is not signed by the agreed deadline. In a related transaction, the Company will sell the 3 million shares of Goldgroup that it had agreed to sell to persons introduced by Goldgroup at a price of $0.06. After completion of the sale, the Company will hold 14,125,000 Goldgroup shares.

At the Meeting, the shareholders approved all resolutions including a resolution for a proposed share consolidation. The Company may effect a consolidation of the issued and outstanding common shares of the Company on the basis that no more than every four issued and outstanding common shares without par value before consolidation be consolidated into one issued and outstanding common share without par value after consolidation. The Proposed Consolidation is subject to the acceptance by the TSX Venture Exchange and may be completed at any time before the Company’s next Annual General Meeting.

Evrim Resources Corp. announces a 15,000,000 unit non-brokered private placement at $0.12 per unit for gross proceeds of $1.8 million. Each Unit will consist of one common share and one non-transferable share purchase warrant. Each Warrant is exercisable into one common share at a price $0.25 for five years from the date of closing.

Defiance Silver Corp is pleased to announce the appointment of Michael Kinley to the position of Chief Financial Officer. Mr. Kinley has been the President of Winslow Associates Management & Communications Inc., a private consulting firm which provides professional services to junior public companies. Mr. Kinley is a Chartered Professional Account and has served as an officer and director for several public companies over the past twenty five years. Defiance also announces the resignation of Matthew Kavanagh as Chief Financial Officer.