Loncor raises C$15.21 million; D-BOX settles sale; NXT wraps first tranche; DOT to issue units

By Stephanie N. Rotondo

Portland, Ore., Feb. 18 - As the week neared its end, so did many PIPE deals come to a close.

Loncor Resources Inc. raised more than C$15 million in a private placement of units. The deal was conducted on both a non-brokered and brokered basis.

D-BOX Technologies Inc. meanwhile took in more than C$7 million, also from a private unit sale. Caisse de dépôt et placement du Québec and Sipar Inc. were among the participating investors.

And, NXT Nutritionals Holdings Inc. settled the first tranche of its $6 million private placement of discounted convertible notes, taking in $2.35 million.

Among companies with new deals was DOT Resources Ltd., which said it was planning to privately issue units to raise exploration funding. The company will sell both flow-though and non-flow-through units.

Loncor raises over C$15 million

Loncor Resources settled a C$15.21 million private placement of common-share units, according to a press release.

The company issued a total of 12.16 million units, 4 million of which were sold on a non-brokered basis to Newmont Mining Corp. The remaining units were sold on a bought-deal basis.

Each unit was sold at C$1.25. The units consisted on one common share and one half-share warrant. Whole warrants are exercisable at C$1.45 for two years.

Proceeds will be used for exploration activities at the company's Congo mineral properties, as well as for working capital and general corporate purposes.

Loncor's shares (TSX Venture: LN) gained 5 cents, or 4%, to C$1.30. Market capitalization is C$40 million.

Loncor Resources is a Toronto-based mineral exploration company.

D-BOX settles unit placement

D-BOX Technologies, a Longueuil, Quebec-based manufacturer of motion systems for the entertainment industry, said it wrapped a private placement of units, taking in C$7.24 million.

The company sold approximately 20.69 million units at C$0.35 each. The units contained one common share and one half-share warrant. Whole warrants are exercisable at C$0.55 until Feb. 17, 2011.

"We are very pleased that the Caisse de dépôt et placement du Québec, a major institutional investor, participated in our private placement," said Claude Mc Master, president and chief executive officer, in a press release.

"Sipar Inc. and other important Canadian investment funds also participated. Their decision to invest, or increase their existing equity position in D-BOX, is a sign of their confidence in our growth strategy. At the same time, the proceeds from the private placement will help D-BOX to carry out its business plan."

Proceeds will be used for the acceleration of the company's motion systems for commercial theater applications and for working capital and general corporate purposes.

D-BOX's stock (TSX Venture: DBO-A) improved by 2 cents, or 6.06%, to C$0.35. Market capitalization is C$35.7 million.

NXT wraps first tranche

NXT Nutritionals Holdings raised $2.35 million in the first tranche of a $6 million private placement of convertible notes.

The 0% original issue discount senior secured convertible notes are convertible into common shares at $1.00 per share. The principal represents 115% of proceeds.

Additionally, investors received 100% warrant coverage. The five-year warrants are exercisable at $1.25.

"This successful financing demonstrates the confidence that our investors have in the company, our product and our ability to execute our business plan," said Michael McCarthy, president and CEO, in a statement. "This is an important milestone in our strategy as we continue to raise consumer awareness of the health benefits and the great taste of our all-natural sweetener, Susta."

"We have already begun seeing a positive response from our initial marketing efforts and we anticipate that the demand for our Susta products will continue to increase throughout the U.S.," McCarthy added. "We believe that the additional capital from the private placement will enable us to expand the accessibility of our Susta products throughout the country and we thank the support of our new and existing shareholders."

NXT's equity (OTCBB: NXTH) fell 8 cents, or 5.48%, to $1.38. Market capitalization is $51.1 million.

NXT Nutritionals is a Holyoke, Mass.-based developer of proprietary, patent-pending healthy alternative sweeteners, food and beverage products.

DOT to sell units

DOT Resources is planning to issue units in a private placement, the company announced.

The company intends to sell a total of 5 million units, split between flow-though and non-flow-through units. The flow-through units will be issued at C$0.225 each and will contain a flow-though common shares and a two-year warrant, which is exercisable at C$0.30 in the first year and at C$0.40 in the second.

The common share units will be sold at C$0.20 each and will consist of a common share and a warrant. The warrants are exercisable at C$0.25 for two years.

DOT expects that certain insiders will participate in the deal and the company has already received non-binding commitments for C$500,000 of the flow-though units and C$150,000 of the non-flow-though units.

"We are very pleased with the results of the 2009/2010 drilling program recently completed and are anxious to continue to add to that success," stated John J. Komarnicki, chairman and CEO, in a press release. "Our ability to continue to attract investors to finance our exploration program is an indication to us that others share our views on the potential of the DOT property."

DOT's stock (TSX Venture: DOT) was unchanged at C$0.175. Market capitalization is C$9.75 million.

DOT Resources is a Calgary, Alta.-based copper exploration company.

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