Ivanhoe Mines sells stock to Rio Tinto; Hathor greenshoe fully subscribed; Agennix closes sale

By Stephanie N. Rotondo

Portland, Ore., March 22 - Canadian issuers continued to reign in Monday's PIPE market.

Ivanhoe Mines Ltd. raised more than C$244 million from a private placement arranged with Rio Tinto. The company intends to use the proceeds to purchase mining and equipment assets from the investor.

Hathor Exploration Ltd. also completed a deal, taking in C$15 million. The deal's greenshoe was fully exercised.

Meanwhile, Agennix AG wrapped a private placement of stock, pocketing nearly €10 million. A company spokesperson said that Agennix also planned to complete a public financing sometime this year.

Extenway Solutions Inc. brought a private placement of units to market. The company is aiming for proceeds up to C$8 million.

And Exall Energy Corp. settled a private placement of units for proceeds of C$3.2 million. The funds will be used for drilling.

Ivanhoe Mines sells stock

Ivanhoe Mines, a Vancouver, B.C.-based mining company, settled a C$244.65 million private placement of stock, according to a press release.

The deal originally priced March 1. Rio Tinto was the investor, increasing its stake in Ivanhoe to 22.4% from 19.6%.

The company sold 15 million common shares to the investor at C$16.31 per share.

Proceeds from the financing will be used "to purchase from Rio Tinto key mining and milling equipment to be installed during the construction of the Oyu Tolgoi copper-gold mining complex in Mongolia," the company said in the release.

Company executives were unavailable for comment Monday.

Ivanhoe's shares (Toronto: IVN) gained 13 cents, or 0.80%, to C$16.37. Market capitalization is C$6.97 billion.

Hathor greenshoe fully subscribed

Hathor Exploration raised C$15 million from an oversubscribed private placement of equity, the company said in a press release.

The bought-deal originally priced March 8 for C$10.2 million. The deal also included a C$4.8 million greenshoe.

Hathor issued 6.25 million flow-through shares at C$2.40 per share. About 2 million shares were sold as part of the over-allotment option.

Proceeds will be used for exploration activities at the company's Athabasca basin uranium projects.

Calls seeking further comment were not returned Monday.

Hathor's stock (TSX Venture: HAT) fell 7 cents, or 3.29%, to C$2.06. Market capitalization is C$210 million.

Hathor Exploration is a Vancouver, B.C.-based resource exploration company.

Agennix settles stock sale

Heidelberg, Germany-based biotechnology company Agennix said it had completed a private placement of equity, taking in €9.76 million.

The company sold approximately 1.87 million ordinary shares at €5.22 per share.

Laurie Doyle, director of investor relations and corporate communications, told Prospect News that Agennix was pleased with the outcome of the deal, as were investors.

"We had planned to do this [capital raise] of about 10% of our outstanding shares," she said. She noted that investors had been aware for some time that this was the company's plan and that it was also intending to launch a public secondary offering around mid-year.

Doyle said the funding would help to further its talactoferrin drug candidate.

"We have a large phase 3 trial going on now," she said. The funds will allow the company "to continue moving forward as planned."

In addition to the clinical trial - which is testing how talactoferrin can help treat cancer - Agennix is also hoping to develop the drug as a treatment for severe sepsis, Doyle said.

Agennix's equity (Frankfurt: AGX) closed at €5.46.

Extenway aims for C$8 million

Extenway Solutions intends to raise up to C$8 million via a private placement of units.

The company will sell a maximum of 32 million units at C$0.25 each. The units will hold one common share and one warrant. The three-year warrants are exercisable at C$0.50 in the first year, at C$0.70 in the second and at C$1.00 in the third.

Additionally, the company announced that it would convert existing debts into securities totaling approximately C$3.76 million.

Calls seeking further comment were not returned Monday.

Extenway's stock (TSX Venture: EY) improved by 1½ cents, or 6.38%, to C$0.25. Market capitalization is C$20.4 million.

Extenway Solutions is a Montreal-based provider of media, connectivity and communications solutions serving the hospitality and healthcare industries.

Exall gets drilling dollars

Exall Energy wrapped a C$3.2 million private placement of units, the company announced.

The Calgary, Alta.-based oil and gas company sold approximately 4.93 million units in the brokered placement at C$0.65 each. The units consisted of one common share and one half-share warrant.

Whole warrants are exercisable at C$0.80 for one year.

Proceeds will go toward Exall's drilling program, as well as for working capital and general corporate purposes.

Exall's equity (Toronto: EE) dipped a cent, or 1.59%, to C$0.62. Market capitalization is C$29.1 million.

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