Greenfire Resources plans to secure C$300M through a rights offering.
Rights Offering Announcement: Greenfire Resources plans to conduct a rights offering of its common shares, aiming for gross proceeds of approximately C$300 million.
Standby Purchase Agreement: The company will enter a standby purchase agreement with Waterous Energy Fund, which holds about 55.9% of shares, ensuring they will fully exercise their subscription rights.
Use of Proceeds: The net proceeds from the rights offering, along with existing cash, will be utilized to redeem the company's $237.5 million senior secured notes due in 2028.
Redemption Notice: Greenfire intends to issue a conditional notice of redemption for the 2028 Notes following the official launch of the rights offering.
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Lux Metals increases private placement to $3.5 million
Private Placement Increase: Lux Metals has increased its private placement from 12.5 million units to 17.5 million units due to strong investor demand, aiming for total gross proceeds of up to $3.5 million.
Unit Composition: Each unit will consist of one common share and one transferable share purchase warrant, with warrants exercisable for an additional share at $0.40 each for two years.
Use of Proceeds: The funds raised will be allocated for exploration costs and general working capital.
Company Information: Additional financial information and ratings for Lux Metals Corp. can be found on Seeking Alpha.
Copper Giant increases private placement to $12 million
Private Placement Increase: Copper Giant Resources has raised the size of its non-brokered private placement from $10 million to $12 million.
Unit Details: The company plans to issue up to 30 million units at C$0.40 each, with each unit consisting of one common share and one-half of a warrant.
Warrant Terms: Each whole warrant will be exercisable at C$0.60 per share for a period of 36 months from the closing date.
Use of Proceeds: The funds raised will be used for working capital and general corporate purposes, pending approval from the TSX Venture Exchange.