Exmin sells C$1.09 million; BrazAlta plans C$5.5 million; Gold Resource gets $21.6 million

By LLuvia Mares

New York, Dec. 6 -Exmin Resources Inc. announced Thursday it negotiated a C$1.09 million private placement of shares.

"We are always acquiring things for our portfolios and as far as new financing goes, it's likely that at some point in 2008 we will be doing further financing," said Andrew C. Hoffman, company vice president of corporate development.

"However the amount and terms will depend on market conditions and what [the company] is doing at that moment."

The company will sell 2,736,318 common shares at C$0.40 each to Hochschild Mining plc.

Exmin's stock (TSX Venture: EXM) closed at C$0.34 on Thursday, down C$0.01 from Wednesday's C$0.35 close.

Hoffman said Exmin has one of the largest land positions of any junior mining company in Mexico, making it desirable for investors.

"We also have joint ventures with five different companies including Hochschild Mining Ltd., which is the fourth largest silver miner in the world and recently bought our private placement, now owning 20% of our shares," he said.

Proceeds will be used for rehabilitation and operation costs associated with the Moris Mine, which is jointly owned by Hochschild (70%) and Exmin (30%).

Exmin Resources is a precious metals exploration and development company based in Vancouver, B.C.

WiFiMed takes in $2.03 million

WiFiMed Holdings Co., Inc. raised $2.03 million from a private placement of discounted senior convertible debentures and warrants. The company also plans to use its strategic planning to raise additional finance for other pending acquisitions.

"They have a couple of acquisitions still pending and are looking to raise the capital to complete those acquisitions," said Zack Noory, Nexus Investor Relations managing director.

"The acquisitions are accretive and have positive cash-flow, so they will be using that part of the cash-flow to pay back the debenture at the 5% interest rate. So they are not looking to convert any shares."

The debentures have a total principal amount of $2.25 million and are priced at 90.

"They will be looking into additional financing and this [financing] will pay for the first acquisition," he said. "Their strategy is to grow through accretive acquisitions, so they have a couple of accretive acquisitions targets once that happens they will be looking for additional acquisition."

Enable Growth Partners LP, Pierce Diversified Strategy Master Fund LLC and Enable Opportunity Partners LP were the investors.

The debentures mature on May 31, 2010 and bear interest at 5% per year. They are convertible into common stock at $0.20 per share.

WiFiMed's stock (OTCBB: WIFM) closed at $1.00 on Wednesday and did not see any activity on Thursday.

Meyers Associates, LP is the placement agent.

WiFiMed is an Atlanta-based provider of technology for the medical industry.

BrazAlta to sell C$5.5 million

Back in the Canadian mining sector, BrazAlta Resources Corp. said it plans to raise a C$5.5 million non-brokered private placement of shares to use for drilling rig equipment, exploration and development programs.

The company will sell 10 million common shares at C$0.55 each.

BrazAlta's stock (TSX Venture: BRX) closed at C$0.56 on Thursday, down C$0.04 from Wednesday's C$0.60 close.

The deal is being conducted by a syndicate of agents led by FirstEnergy Capital Corp. and including Westwind Partners Inc.

The deal will settle on Dec. 20.

Calgary, Alta.-based BrazAlta Resources explores, develops and produces oil and gas in the Reconcavo and Sergipe basins of Brazil.

Gold Resource gets $21.6 million

Gold Resource Corp. took home $21.6 million after completing a private placement of stock on Thursday.

"We are pleased with the confidence shown in Gold Resource Corporation by all the funding participants, several of which participated in Gold Resource's IPO funding in September of 2006," said Jason Reid, company president, in a press release.

"We are also pleased to welcome several new U.S. institutional shareholders. Many of our institutional participants are resource focused and industry leaders in mine finance."

The company sold 5.4 million restricted common shares at $4.00 apiece.

The company's stock (OTCBB: GORO) closed at $4.40 on Wednesday and did not see any change on Thursday.

Proceeds will be used for the construction of the company's El Aguila project in Oaxaca, Mexico.

Denver-based Gold Resource is a gold and silver exploration and development company.

Pitchstone issues C$3.13 million

Pitchstone Exploration Ltd. completed a C$3.13 million non-brokered private placement of shares to be used for exploration.

The deal priced for C$3.1 million on Nov. 19.

The company sold 1,008,200 flow-through common shares at C$3.10 each, up slightly from its planned sale of 1 million shares at that price.

Pitchstone's stock (TSX Venture: PXP) closed at C$2.58 on Thursday, up C$0.08 from Wednesday's C$2.50 close.

The company paid a 5% cash finder's fee of C$131,440.

Pitchstone is a uranium exploration company based in Vancouver, B.C.

Timbercorp finalizes A$56.42 million

In other news, Timbercorp Ltd. settled a A$56.42 million private placement of shares on Dec. 10. The deal priced Dec. 4.

The company sold approximately 37 million shares at A$1.525 each.

Timbercorp's stock (Australia: TIM) closed at A$1.585 on Wednesday and did not see any change on Thursday.

Proceeds will be used for additional working capital.

Timbercorp is a Melbourne, Australia-based agribusiness investment manager.

Murgor sells C$1.63 million

With the finalization of its C$1.63 million private placement of shares Thursday, Murgor Resources Inc. will continue further exploration of its properties and take advantage of high metal prices.

"Since Murgor signed its six agreements with HudBay Minerals, Mavrix has recognized the value of Murgor's new assets and has been a strong supporter of the corporation," said Andre C. Tessier, president and chief executive officer, in a press release.

"Murgor is extremely pleased to count on the support of Mavrix. These funds will help Murgor complete its definition drilling at the Hudvam and Wim deposits, in preparation for feasibility studies in 2008 and 2009."

The company sold 1.6 million flow-through common shares at C$1.02 each to Mavrix.

Murgor's stock (TSX Venture: MGR) closed at C$0.68 on Thursday, down C$0.01 from Wednesday's C$0.69.

Proceeds will be used for exploration.

Murgor is a mineral exploration company specializing on zinc, copper and gold exploration. The company is based in Montreal.

Tirex prices C$5.5 million private placement of shares

In the mining sector, Tirex Resources Ltd. led news after it negotiated a C$5.5 million non-brokered private placement of shares.

"We are intensifying and expanding our exploration efforts in the Mirdita property," said Bryan Slusarchuk, Tirex chief executive officer and director. "We have a large district of projects to explore and that district will keep us very busy."

The company intends to sell 2 million shares at C$2.75 each. No warrants will be issued.

Tirex's stock (TSX Venture: TXX) closed at C$2.95, down C$0.27 from Thursday's C$3.22 close.

Proceeds will be used for exploration and general corporate purposes.

Tirex is a resource exploration and development company based in Vancouver, B.C.

Copper Mountain pockets C$3 million

Copper Mountain Mining Corp. also took home C$3 million after closing a private placement of shares with MineralFields Group.

"We are very pleased to be entering into this relationship with MineralFields Group," said James O'Rourke, company president and chief executive officer, in a press release.

"This week has seen an important milestone in the growth of Copper Mountain Mining Corp. and we look forward to working with MineralFields Group as we continue to develop our Copper Mountain Project and follow up on the highly encouraging Titan 24 deep earth imaging results released this week."

MineralFields bought 1.2 million flow-through shares at C$2.50 apiece.

The company's stock (TSX Venture: CUM) closed at C$1.95 on Thursday, down C$0.10 from Wednesday's C$2.05 close.

The placement was non-brokered.

Proceeds will be used for drilling at the company's Copper Mountain project in British Columbia.

Copper Mountain is a resource company based in Vancouver, B.C.

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