Quantum Fuel wraps stock sale; Kalahari Minerals sells loan notes; Hanmi closes first tranche

By Stephanie N. Rotondo

Portland, Ore., Sept. 8 - The private placement market jumped right back into the swing of things Tuesday after a long holiday weekend.

Several large deals were completed - or were well on their way - during the session. Quantum Fuel Systems Technologies Worldwide, Inc., for example, said it closed on a $12.3 million placement of equity.

Kalahari Minerals plc also wrapped a deal, taking in £10 million from the sale of convertible loan notes. The company will use proceeds to maintain its interest in Extract Resources Ltd.

Hanmi Financial Corp. meanwhile said it had settled the first tranche of its $11.02 million private placement. The company raised more than $6 million in this portion.

Also, Golden River Resources Corp. pocketed $4.13 million in the first tranche of its private placement agreement with Northern Capital Resources. The company intends to raise a total of $8.5 million.

And, Selwyn Resources Ltd. said it was planning a C$6 million placement of stock. The funds will be used for the company's Selwyn Project.

Quantum completes stock sale

Quantum Fuel Systems Technologies Worldwide settled a $12.3 million private placement of common share units, according to a press release.

The units included 1,000 common shares, as well as warrants for another 100 shares. Each unit sold at $612 each and the warrants are exercisable at $0.85 for five years.

In total, the company issued 20.1 million new common shares, with 6.4 million being sold Aug. 3 and the remaining 13.7 million selling on Sept. 4. Warrants for 2 million additional shares were issued.

Calls seeking further comment went unreturned Tuesday.

Quantum's stock (Nasdaq: QTWW) fell 2 cents, or 2.04%, to $0.7935. Market capitalization is $77.6 million.

Quantum Fuel is an Irvine, Calif.-based engineering company.

Kalahari issues loan notes

Kalahari Minerals pocketed £10 million from a private placement of 10% convertible loan notes.

The two-year notes are convertible at 212.5p per share and may be redeemed after one year at a 10% premium.

The company raised the funds in an effort to maintain its 40% equity interest in Extract Resources Ltd. Extract announced an A$91 million financing arrangement on Aug. 26.

Kalahari's shares (London: KAH) closed at 194.75p. Market capitalization is £389 million.

Kalahari Minerals is a London-based mining exploration and evaluation company.

Hanmi closes first tranche

Hanmi Financial took in $6.95 million in the first tranche of its $11.02 million equity private placement, the company said in a regulatory filing.

The deal originally priced June 12.

The Los Angeles bank holding company sold approximately 5.07 million shares at $1.37 each to Korean investor Leading Investment & Securities Co. All told, the company will sell approximately 8.04 million shares.

"We are pleased to have received the initial $6.9 million and we look forward to receiving the balance of $4.1 million following the applicable regulatory approvals," said Jay S. Yoo, president and chief executive officer, in a statement.

"When completed, Leading's investment will augment Hanmi's capital reserves and, in conjunction with our program to deleverage the balance sheet, will enhance our ability to weather the current recession and emerge well-positioned to take advantage of opportunities as the economy recovers."

The company said it is also "in active negotiations with certain Korean institutional investors relating to a larger equity capital infusion."

Calls made to the company seeking comment went unreturned Tuesday.

Hanmi's equity (Nasdaq: HAFC) gained 13 cents, or 9.03%, to $1.57. Market capitalization is $70.1 million.

Golden River to raise $8.5 million

Golden River Resources, a Melbourne, Australia-based gold exploration company, intends to raise $8.5 million via a private placement of equity.

The company has already raised $4.13 million under its agreement with Northern Capital Resources.

Golden River sold approximately 41.27 million common shares, with each shares selling at $0.10 per share. The company will issue a total of 85 million shares.

Proceeds from the financing will help the company complete its acquisition of Acadian Mining Corp. shares.

Golden River's shares (OTCBB: GORV) dropped a penny, or 9.09%, to $0.10.

Selwyn to sell stock

Selwyn Resources is planning a C$6 million non-brokered private placement of common stock, the company announced.

A total of 50 million shares will be issued at C$0.12 per share.

"The proceeds of the financing will be used for funding general working capital and to fund drilling, metallurgical studies, engineering studies and environmental activities at the Selwyn Project," the company said in a press release. "These activities will advance the Selwyn Project while the company continues to have discussions with various potential strategic partners for their participation in the Selwyn Project."

Settlement is expected by Sept. 30.

Calls made to the company seeking comment went unreturned Tuesday.

Selwyn's equity (TSX Venture: SWN) ended unchanged at C$0.115. Market capitalization is C$26 million.

Selwyn resources is a Vancouver, B.C.-based resource exploration company.

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