Agnico-Eagle to raise $252 million; Live Current, Aldridge close deals; Southern Hemisphere plans sale

By Kenneth Lim

Boston, Nov. 19 - Agnico-Eagle Mines Ltd. plans to sell $252 million of stock and warrant units in a private deal to fund its mine development activities.

Live Current Media Inc. placed C$1.06 million of units in a non-brokered private deal, and expects to settle a second tranche for C$1 million in the next two weeks.

Aldridge Minerals Inc. wrapped a C$2.09 million unit placement that raised capital for working capital, but the deal was downsized by almost a third.

Southern Hemisphere Mining Ltd. will offer C$1.6 million of units through a private placement to fund its exploration programs.

Agnico-Eagle to raise $252 million

Agnico-Eagle Mines plans to place $252 million of units through a private placement.

There is an over-allotment option for a further $37.8 million.

The placement comprises 8 million units of one common share and one half-share warrant at $31.50 per unit. Each whole warrant will be exercisable at $47.25 for five years.

Agnico-Eagle common stock (TSX: AEM) closed at C$33.08 on Wednesday, lower by 11.9% or C$4.47.

Proceeds will be used for mine development and related capital expenditures, as well as for general corporate purposes.

Toronto-based Agnico-Eagle is a gold producer.

"This financing is a prudent measure to secure our ongoing production growth and strengthen our financial position," Agnico-Eagle vice-chairman and chief executive Sean Boyd said in a statement. "It also puts the company in an excellent position to further new internal expansion opportunities and to continue to aggressively grow our gold reserves within our portfolio of high quality deposits."

Live Current wraps placement

Live Current Media closed an initial C$1.06 million non-brokered private placement of units. The company expects to settle a second tranche for an additional C$1 million within the next 15 days.

The first tranche was made up of 1.63 million units of one common share and two half-share warrants at C$0.65 per unit. The first whole warrant will be exercisable at C$0.78 for two years. The second whole warrant will be exercisable at C$0.91 for three years.

Live Current Media common stock (OTCBB: LIVC) fell 21.57% or $0.11 to close at $0.40 on Wednesday.

Proceeds will be used to accelerate the growth of the company's Perfume.com business, meet on-going obligations related to its work with the Indian cricket leagues and for general working capital purposes.

Based in Vancouver, B.C., Live Current Media is a web site operator.

The initial tranche saw insider participation, with Live Current chairman and chief executive Geoffrey Hampson, president and chief operating officer Jonathan Ehrlich and chief corporate development officer Mark Melville all taking part.

"This financing, in addition to the expected proceeds of the previously announced sale of up to six non-core domain names, is consistent with management's strategy to ensure that sufficient cash resources are available to meet our obligations through the end of 2009 while minimizing dilution for existing investors," Hampson said in a press release.

Aldridge downsizes deal

Aldridge Minerals closed a downsized C$2.09 million placement of stock and warrant units.

The deal originally priced Nov. 3 for C$3 million.

The company sold 758,500 units at C$2.75 apiece. Each unit consists of one common share and one warrant. Each warrant is exercisable at C$3.40 for two years.

Aldridge common stock (TSX: AGM) gained 19.05% or C$0.44 to close at C$2.75 on Wednesday.

Aldridge is a gold and base metals exploration company based in Vancouver, B.C.

Southern Hemisphere plans deal

Southern Hemisphere plans to sell C$1.6 million of stock and warrant units through a placement.

The company is offering 8 million units of one common share and one half-share warrant at C$0.20 per unit. Each whole warrant is exercisable at C$0.20 for two years. Southern Hemisphere common stock (TSX: SH) closed unchanged at C$0.20 on Wednesday.

Proceeds will be used for exploration programs, a pre-feasibility study on the recently announced Los Pumas manganese project and general working capital.

Southern Hemisphere is a South America-focused resource company based in Surrey, B.C.

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