Xinergy announces completion of acquisition of Raven Crest Mining
Xinergy Ltd. through its wholly owned subsidiary, Shenendoah Energy, LLC, is pleased to announce that, effective yesterday, it completed the acquisition of the remaining 95% interest of Raven Crest Mining, LLC (“Raven Crest”) that Xinergy does not already own for US$40.0 million in cash, the assumption of US$18.8 million in debt, which was paid upon closing, and a working capital adjustment of approximately US$5.0 million (“the Transaction”). Xinergy had indirectly acquired 5% of Raven Crest in December 2009. The purchase price for the Transaction was financed by the issuance of US$75.0 million of secured notes issued to Marret Asset Management Inc. on behalf of various funds under management (the “Secured Notes”). The Secured Notes are due on April 29, 2015 and pay interest at a rate of 9.75% per annum. Read more
Colossus Minerals Inc. Announces Filing of Preliminary Prospectus
TORONTO, ONTARIO-Colossus Minerals Inc. announced today that it has filed a preliminary short form prospectus in respect of the previously announced bought deal offering . The Company entered into an underwriting agreement with a syndicate of underwriters led by Macquarie Capital Markets Canada Ltd. and including Thomas Weisel Partners Canada Inc., Canaccord Capital Corporation, and GMP Securities L.P. , with PowerOne Capital Markets Limited to act as a selling group member. Pursuant to the underwriting agreement, the Underwriters have agreed to purchase 11,000,000 common shares of the Company at a price of CDN$5.75 per Common Share for gross proceeds of CDN$63,250,000. Read more
Colossus Minerals Inc. Announces Increase to Bought Deal Financing
TORONTO, ONTARIO-
Colossus Minerals Inc. is pleased to announce that, due to the positive response the Company has received, the common share offering announced earlier today with a syndicate of underwriters led by Macquarie Capital Markets Canada Ltd. and including Thomas Weisel Partners Canada Inc., Canaccord Capital Corporation, and GMP Securities L.P., with PowerOne Capital Markets Limited to act as a selling group member, has been increased by an additional 1,000,000 common shares. The Underwriters will now purchase 11,000,000 common shares of the Company at a price of CDN$5.75 per Common Share for gross proceeds of CDN$63,250,000. Read more
