Dia Bras upsizes deal, could look for more; Ondine, AnaeCo sell stock; International Stem Cell sells more

By Kenneth Lim

Boston, Jan. 23 - Dia Bras Exploration Inc. upsized a stock and warrant unit placement to C$1.85 million and could be raising even more.

Ondine Biopharma Corp. plans to raise C$1.02 million through a non-brokered stock placement that is expected to draw significant insider involvement.

AnaeCo Ltd. sold A$1.79 million of its common stock through a private placement to help finance the development of its projects.

International Stem Cell Corp. took in another $1 million in the second tranche of a planned $5 million convertible preferred stock offering.

Dia Bras upsizes deal, to raise more

Dia Bras Exploration upsized a non-brokered private placement of stock and warrant units to C$1.85 million from C$1.7 million after the offering was oversubscribed.

The company is now selling 30.75 million units of one common share and one warrant at C$0.06 per unit. Each warrant is exercisable at C$0.15 for 18 months.

Dia Bras common stock (TSX: DIB) rose 27.27% or C$0.015 to close at C$0.07 on Friday. The company's market capitalization is C$9.6 million.

Proceeds will be used to initiate the engineering study for the construction of an on-site mill at the company's Bolivar Mine and for general corporate and working capital purposes.

Based in Montreal, Dia Bras is a precious and base metals exploration company.

Arias Resource Capital Fund LP, a New York-based private equity firm specializing in metals and mining companies, bought $756,643 of the units offered, or about 12.61 million units. It plans to invest an additional C$443,357, or about 7.39 million units, at the same price.

If both tranches are completed, Arias will hold a 24.13% stake in Dia Bras.

Ondine to offer stock

Ondine Biopharma is offering C$1.02 million of its common stock through a non-brokered private placement.

The company will sell 17 million shares at C$0.06 apiece. The company's common stock (TSX: OBP) fell 23.81% or C$0.025 to close at C$0.08 on Friday. The company has a market capitalization of C$4.9 million.

Proceeds will be used for research and development of new products, working capital and general corporate purposes.

Ondine, based in Vancouver, B.C., develops non-antibiotic therapies for the treatment of bacterial, fungal and viral infections.

Insiders of the company are expected to subscribe for about 6.135 million shares, or $368,000.

AnaeCo in stock deal

AnaeCo raised A$1.79 million through a private placement of its common stock.

The company offered 17.94 million shares at A$0.10 per share. AnaeCo common stock (ASX: ANQ) closed unchanged at A$0.13 on Friday. The company has a market capitalization of A$12.6 million.

Proceeds will be used as working capital to support the performance testing of the company's Western Metropolitan Regional Council Stage 1 project, preparation for the commencement of Stage 2 for the project, and for early preparation work on its Barwon Regional Waste Management Group project.

AnaeCo is a Bentley, Australia-based company that operates in the organic solid waste treatment industry.

International Stem Cell deal progresses

International Stem Cell settled a $1 million second tranche of a $5 million convertible preferred stock private placement.

The company wrapped up the initial $1 million tranche on Dec. 30.

Each 10% preferred is initially convertible into common stock at $0.25 per common share. The dividend rate reduces to 6% after two years.

International Stem Cell common stock (OTSBB: ISCO) closed at $0.37 on Friday, up by 27.59% or $0.08. The company's market capitalization is $13.3 million.

Proceeds will allow the company to retire its existing secured debt and fund operations.

International Stem Cell has headquarters in Oceanside, Calif.

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