XTL prices $9.6 million; Maximus Ventures wraps C$3.2 million; Monroe Minerals to conduct C$2.5 million

By LLuvia Mares

New York, Oct. 25 - Leading PIPEs news, XTL Biopharmaceuticals Ltd. announced a $9.6 million private placement of American Depositary Receipts.

"We are very pleased to have consummated this financing with high-quality investors in the biotechnology sector in the U.S.," said Ron Bentsur, company chief executive officer, said in a press release.

"Following this offering, we believe that we will have sufficient capital to execute our business plan and more importantly to reach what we believe could be a major value-enhancing milestone - the completion of our on-going randomized, placebo-controlled phase 2b trial of Bicifadine in diabetic neuropathic pain."

The company will issue 7.1 million ADRs, representing about 71 million common shares, to a group of institutional investors. No warrants were included.

The company's ADRs (Nasdaq: XTLB) closed at $1.88 Thursday, up $0.13 from the $1.75 close Wednesday, and its shares (London: XTL) were 9.25p at the close on Thursday, up 1.25p from Wednesday's 8.00p close.

The transaction is expected to settle on Oct. 31.

The lead investors include Perceptive Life Sciences Fund, Quogue Capital LLC, SCO Capital Partners and Versant Capital.

Valley Cottage, N.Y.-based XTL Biopharmaceuticals develop therapeutics for treatment of neuropathic pain and hepatitis C.

Maximus raises C$3.2 million

Maximus Ventures Ltd. closed a C$3.2 million private placement of units. The deal priced on Sept. 19 and was slated to close on Oct. 15.

"We got caught with a subprime situation and we have $4.8 million debt stuck in this thing, we needed a quick and urgent private placement and we have worked with Dundee in the past many, many times and we have a great working relationship," Francois Viens, company president and chief executive officer told Prospect News.

"I knew it would happen quickly so that is what we did."

The company sold a total of 10,666,666 units of one share and one warrant at C$0.30 per unit. Of these, 9.73 million units were brokered and 936,666 units were non-brokered. Each warrant will be exercisable at C$0.40 for 18 months.

The company sold 666,666 more units than planned for an extra C$200,000.

Dundee Securities Corp. and Primary Capital Inc. were the agents for the brokered portion of the placement.

Maximus Ventures' stock (TSX Venture: MXV) closed at C$0.57, up C$0.04 from Thursday's close of C$0.53.

All of the securities have a four-month hold period.

"We are drilling right now in a couple of our properties so the proceeds will be used to continue doing exploration and for general administrative purposes, but most of the money will be used for the diamond drilling," Viens said.

"We are always looking for acquisitions but we are not going to be contemplating any other financing, we are going to be alright with this money we received at least for another year. We should be able to fulfill all of our exploration programs with this money."

Maximum is a precious metals exploration company based in Longueuil, Quebec.

Monroe to sell C$2.5 million

Monroe Minerals Inc. said it plans a C$2.5 million non-brokered private placement of units.

"We are very pleased to have been introduced to MineralFields Group," said Derek J. Moran, company president and chief executive officer, in a press release.

"This is an important milestone in the growth of Monroe and we look forward to working with MineralFields Group as we develop our uranium holdings in Canada."

The company will sell up to 16,666,667 non flow-through units of one share and one non flow-through warrant at C$0.06 per unit and 20 million flow through units of one flow-through common share and one flow-through warrant at C$0.075 per flow-through unit.

Monroe Minerals' stock (TSX Venture: MMX) closed at C$0.09, up C$0.02 from Wednesday's C$0.07 close.

Proceeds will be used to work towards the assembly of a portfolio of uranium properties, for exploration and development and for general working capital purposes.

Based in Calgary, Alta., Monroe Minerals is a minerals exploration company focusing on diamonds and uranium.

Velti says it has raised £7.5 million

Velti plc announced it has taken in approximately £7.5 million in a private placement of shares.

"We are delighted with the positive response to the placing we have received from both new and existing shareholders and will use the funds raised to continue our strong and profitable growth," said Alexandros Moukas, company chief executive, in a press release.

The company sold 3.58 million new ordinary shares at 210p apiece.

The company's stock (London: VEL) closed at 217.00p Thursday, up 5.00p from Wednesday's 212.00p close.

Proceeds will be used for development, marketing, advertising, enhancing products and operating infrastructure and working capital.

Based in London, Velti, formerly known as Brightmanner plc, provides mobile software platforms, applications and services for operators and advertising agencies in South Eastern Europe, the United Kingdom and United States.

Victoria adds Kinross as investor

Victoria Resource Corp. announced that Kinross Gold Corp. will be participating in Victoria's previously announced C$13.5 million private placement of units. The deal priced on Oct. 17.

"It must be remembered that Black Canyon is one of Victoria's earliest-stage exploration targets," said Chad Williams, chief executive officer, president and director, in a press release.

"However, the abundance of visible-gold grab samples taken by our team, the fact that previous gold mines exist on the property, and its location along a major structural belt encompassing many other precious metal mines make this an attractive project for the company and this phase 1 campaign may only be the beginning of our exploration efforts at Black Canyon."

Kinross has been allocated approximately C$3 million, or about 4,285,714 units, of the deal.

As previously reported, Victoria plans to sell 19,285,714 units at C$0.70 apiece. Each unit consists of one common share and one half share warrant. Each whole warrant is exercisable at C$0.85 for 18 months.

The deal is being conducted by a syndicate of agents led by Blackmont Capital Inc. and CIBC World Markets Inc. and including Orion Securities Inc.

Victoria Resource's stock (TSX Venture: VIT) closed at C$0.80 Wednesday and did not see any activity Thursday.

Proceeds will be used for exploration and general corporate purposes.

Victoria, a gold exploration company, is based in Vancouver, B.C.

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