Mining, oil names set to tap market; Nautilus to raise C$39.09 million; Century Mining plans C$20 million sale

By LLuvia Mares

New York, Sept. 27 - More mining and oil deals will surface in coming sessions following increases in commodity prices over recent days, market sources said.

"With the prices rising, you have greater potential to make profits on any mines that you start up," said a market source. "So it just kind of fuels the profitability in the industry and therefore when there are profits there, there will be investors chasing after those profits."

The market source said most private placements have been for junior mining companies looking for assets and raising financing.

"I wouldn't see any reason short of real pullback in commodity prices if that's going to stop," he said. "With these commodity prices it encourages a lot more development and exploration."

Nautilus Minerals Inc. made PIPEs news, announcing it plans to raise C$39,094,884 in a private placement of units.

The company will sell 10,859,690 units at C$3.60 each to Epion Holdings Ltd. Each unit will consist of one common share and one-fifth of a warrant. Each whole warrant is exercisable at C$3.80 for two years.

Nautilus' stock (Toronto: NUS) closed at $3.56 on Thursday, up $0.24 from $3.32 at Wednesday's close.

"With the recent announcement of our exploration success at Solwara 1, we are keen to get back out on the water and develop a pipeline of projects. Ongoing exploration is the key to increasing shareholder value," said David Heydon, company chief executive officer, in a press release.

"Our existing $270 million in cash is committed for the development of the Solwara 1 project and to the 2007 exploration program ($20 million).

"This placement allows us to maintain momentum and exploration at current levels for 2008 and 2009."

Proceeds will be used for future exploration programs, development of survey, geophysical and sampling equipment and for working capital

Vancouver, B.C.-based Nautilus explores the ocean floor for gold-copper-zinc-silver seafloor massive sulphide deposits.

Century Mining plans C$20 million

Century Mining Corp. announced it aims to raise up to C$20,075,000 in a private placement of units.

The company will sell up to 36.5 million units at C$0.55 each. Each unit will consist of one common share and one half share warrant. Each whole warrant is exercisable at C$0.75 for two years.

Its stock (TSX Venture: CMM) closed at $0.54 on Sept. 27, down $0.05 from the $0.59 close on Wednesday.

Proceeds will be used for development, property payments and working capital.

Century, based in Blaine, Wash., is a gold exploration company.

New Guinea Gold negotiates C$1.25 million

New Guinea Gold Corp. announced a C$1.25 million non-brokered private placement of units.

The company will sell 2.5 million units at C$0.50 apiece. Each unit will consist of one common share and one half share warrant. Each whole warrant is exercisable at C$0.65 for two years.

New Guinea's stock (TSX Venture: NGG) closed at $0.57 on Sept. 26 and did not see any movement Thursday.

The company will pay a finder's fee of 7% in cash and warrants to Bolder Investment Partners Ltd.

Proceeds will be used to accelerate mine development at Sinivit and for general corporate purposes.

New Guinea is a resource exploration company based in Vancouver, B.C.

Focus wraps $5.4 million equity financing

Focus Enhancements, Inc. announced Thursday it completed a $5.4 million equity financing of shares and warrants.

The company sold 3.9 million shares of stock at $0.88 per share and warrants to purchase an additional 965,910 shares at an exercise price of $1.05 per share in the second tranche, which closed Wednesday raising $3.4 million. The warrants expire in five years and can be exercised immediately.

In the first tranche, which closed on Sept. 17, the company issued 2.3 million shares of stock and warrants to purchase an additional 568,182 shares of common stock at the same price as in the second tranche.

Its stock (Nasdaq: FCSE) closed at $0.90 on Sept. 27, up $0.01 from the $0.89 at close on Wednesday.

"We are excited about our next phase of UWB [ultra wideband] commercialization and remain optimistic our high performance UWB chip will start shipping in commercial quantities in October," said Brett Moyer, CEO of Focus Enhancements, in a press release.

First Montauk Securities Corp. acted as placement agent in the transaction.

The company intends to use the net proceeds from this financing for working capital and general corporate purposes.

Campbell, Calif.-based Focus Enhancements specializes in video production and conversion technology.

Boo Koo settles $2.9 million of stock

Boo Koo Beverages, Inc. wrapped up a $2.9 million private placement of stock.

The company sold 2,450,750 shares at $1.20 each in the second tranche which closed Thursday, raising $2.9 million. No warrants were issued.

In the first tranche, which closed in August, the company issued 2.3 million shares of stock and warrants to purchase an additional 6,252,595 shares of common stock at $1.20 each, raising $7.5 million.

Boo Koo's stock (OTCBB: BOKO) closed at $4.00 on Sept. 11, the last time it traded.

"We are excited to have completed our fund raising and can now focus our efforts to expand our distribution and awareness with consumers," said Dan Lee, president of Boo Koo, in a press release. "As a publicly traded company, our objective will be to increase our profile with consumers and the investment community by offering what we believe are the best tasting energy drinks available."

The placement agents for the transaction were Roth Capital Partners, LLC and Aspen Equity Partners, LLC.

Proceeds from both transactions, totaling $11.3 million, will be used to provide working capital, increased marketing support for the company's line of beverages, general corporate purposes and the repayment of debt.

Addison, Tex.-based Boo Koo produces and distributes a line of energy drinks.

Cymat to raise C$1.5 million

Cymat Technologies Ltd. announced it has entered into an agreement with Fraser Mackenzie as an advisor to raise at least C$1.5 million in a private placement of units.

The company will sell at least 6 million units at C$0.25 each. Each unit will consist of one common share and one half share warrant. Each whole warrant is exercisable at C$0.35 for 18 months.

Cymat's stock (Toronto: CYM) closed at $10.66 on June. 21, the last time it traded; it has not seen any movement since.

"This financing, coupled with the substantial revenue potential in our target markets, will allow Cymat to accelerate sales, expedite its primary goal of achieving profitability and realize on a very large market for its advanced patented material," said Chris Skillen, company chief executive officer, in a press release.

Settlement is expected to occur in 60 days.

Proceeds will be used to increase production capacity, reduce order cycle times, hire additional sales staff to accelerate sales and provide general working capital.

Toronto-based Cymat develops aluminum foam products.

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