St. Andrew increases deal to C$25.2 million; Mint negotiates C$1 million; Petaquilla raises C$2.63 million

By LLuvia Mares

New York, Jan. 14 - Leading PIPEs news in Monday's session, St. Andrew Goldfields Ltd. increased the remaining brokered portion of its private placement of shares.

The deal priced for C$20 million on Nov. 12 and the company lowered the share price on Nov. 15. A C$10.4 million non-brokered tranche settled on Nov. 19. The remaining amount is being increased to C$14.8 million from C$9.6 million, which would bring the total deal size to about C$25.18 million.

"The [company] is just trying to expand, the management wanted to get more of a brokerage perspective of this deal," said Alex Grasden, company investor relations coordinator.

"We have a solid infrastructure, we brought in a new president who has made a career working in exploration and we are not spreading ourselves thin. We have a lot of assets and unlike other junior exploration companies we don't have a lot of debt."

Managed accounts of Trapeze Asset Management Inc. and Trapeze Capital Corp., both insiders of the company, bought 18,956,914 shares at C$0.55 for about C$10.4 million on Nov. 19.

When the placement was first announced, on Nov. 12, the Trapeze funds were expected to subscribe for about C$11.4 million of the shares at C$0.60 per share.

A syndicate led by Octagon Capital Corp. and including D&D Securities Co., Haywood Securities Inc. and Maison Placements Canada Inc. will be the agents for the remainder of the deal, which is to include up to 26,825,822 common shares, increased from up to 17,406,722 shares.

Closing of this tranche is anticipated to occur later this month.

When the share price was increased, the deal was to have included 36,363,636 shares total. At pricing, the company intended to sell 33,333,333 shares. It now will sell a total of 45,782,736 shares.

Proceeds will be used for exploration at St Andrew's Nixon Fork property, development and drilling, working capital and general corporate purposes.

St Andrew is a gold mining and exploration company based in Oakville, Ont.

Mint negotiates C$1 million

In the technology sector, Mint Tech. Corp. will conduct a C$1 million non-brokered private placement of units.

The company will sell 13,333,333 units at C$0.075 per unit. Each unit consists of one common share and one warrant. Each warrant will be exercisable at C$0.10 for two years.

Mint's stock (TSX Venture: MIT) closed at C$0.01 on Friday and was unchanged on Monday.

The units are being bought by Cristomel Inc., Notre-Dame Capital Inc., Glocap Management Inc. and Hermitage Canada Finance Inc., along with other investors designated by Hermitage.

Proceeds will be used for working capital purposes.

Toronto-based Mint develops and markets prepaid credit cards.

Petaquilla wraps C$2.63 million

In mining, Petaquilla Copper Ltd. took in C$2.63 million in the third tranche of a non-brokered private placement of units. The C$50.75 million deal priced on Dec. 14. The company raised C$23 million in the first tranche on Dec. 24 and C$11.8 million in the second tranche on Jan. 2.

"We won't be looking into additional funding after this close, the money will be used for general corporate purposes and for further exploration," said a company insider. "We are always looking for good opportunities."

In the first tranche, Petaquilla Copper sold 6,571,200 units. It sold 3.37 million units in the second tranche and 750,000 units in this one.

The company plans to sell a total of 14.5 million units at C$3.50 each. The units consist of one share and one half-share warrant with each whole warrant exercisable at C$5.50 for two years.

The company's stock (Toronto: PTC) closed at C$2.72 on Monday, down C$0.01 from Friday's C$2.73 close.

Proceeds will be used for general corporate purposes and working capital.

Vancouver, B.C.-based Petaquilla Copper is a copper exploration company.

Sanatana plans C$13 million

Also making news in the mining sector, Sanatana Diamonds Inc. announced it plans a C$13 million private placement of units and shares.

The company will sell units of one common share and one half-share warrant. Each whole warrant will be exercisable for 18 months. The exact price of the units and the warrant strike price will be determined at a later date.

Sanatana also will sell flow-through shares at a price to be determined according to market conditions.

The deal will be conducted by a syndicate of agents led by Genuity Capital Markets and including J.F. Mackie & Company Ltd., Haywood Securities Inc. and Raymond James Ltd. The deal is expected to close on Feb. 5.

Sanatana's stock (TSX Venture: STA) closed at C$1.25 on Monday, down C$0.25 from Friday's C$1.50 close.

Proceeds will be used for exploration, working capital and general corporate purposes.

Sanatana is a diamond exploration company based in Vancouver, B.C.

Nymox gets $15 million equity line

In the biotechnology field, Nymox Pharmaceutical Corp. received a $15 million equity line from institutional investors.

"Nymox has a very low burn rate. The company has achieved minimal dilution for our shareholders (under 4% per year)," said Paul Averback, company chief executive officer, in a press release. "The company has zero long-term debt. The new financing reinforces our drug development activities as we advance our products to market."

The company may sell stock to the investors at a 3% discount to the market price. All of the investors have participated in previous equity financing with Nymox.

Nymox's stock (Nasdaq: NYMX) closed at $5.25 on Friday and was unchanged on Monday.

No warrants are included.

The agreement does not include restrictions on future financings.

Based in Hasbrouck Heights, N.J., Nymox is a biotechnology company focused on needs of the aging population.

Bio-Extraction reveals terms of C$10 million

In other news, Bio-Extraction Inc. priced a C$10 million private placement of units. The deal was announced Nov. 15.

"We are certainly very pleased to be in a position to conclude this offering. Clearly, there is significant uncertainty in the financial markets of late, and as such we are gratified and compelled by the confidence that investors have laced in BioExx by supporting this offering," said Chris Carl, company chief executive officer, in a press release.

"Pending this closing, our team is primed and ready, and we are very excited about moving forward with the continued execution of our business plan and the creation of value for our shareholders."

The company will sell 40 million units of one common share and one half-share warrant at C$0.25 apiece. Each whole warrant will be exercisable at C$0.40 for 18 months.

The company's stock (TSX Venture: BXI) closed at C$0.32 on Monday, up C$0.04 from Friday's C$0.28 close.

The deal will be conducted by a syndicate of agents led by Canaccord Adams and including Blackmont Capital Corp. and Research Capital Corp.

Settlement is expected Jan. 29.

Proceeds will be used for construction, working capital and general corporate purposes.

Based in Toronto, Bio-Extraction develops and commercializes extraction technology.

PMI raises total to C$4 million

PMI Gold Corp. increased a non-brokered private placement of units to C$4 million from C$2.8 million. The deal priced Nov. 27.

PMI now will sell up to 14.3 million units.

It originally planned to sell up to 10 million units of one share and one half-share warrant at C$0.28 per unit. Each whole warrant will be exercisable for two years, at C$0.375 in the first year and at C$0.45 in the second year.

PMI's stock (TSX Venture: PMV) closed at C$0.27 on Monday, up C$0.01 from Friday's C$0.26 close.

Proceeds will be used for engineering studies at the company's gold projects in Ghana and for working capital.

PMI is a mining company based in Vancouver, B.C.

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