RiT Technologies to get $10 million; Osisko to sell C$10.64 million; Terrain plans A$5 million

By Devika Patel

Knoxville, Tenn., June 19 - RiT Technologies Ltd. arranged a $10 million three-year convertible unsecured loan with Stins Coman Inc. Stins Coman's president, Sergey Anisimov, is also the chairman of the Israeli company.

Canada's Osisko Mining Corp. said it will raise C$10.64 million via a private placement of stock. The non-brokered deal will raise funds for exploration.

Terrain Minerals Ltd. negotiated a A$5 million committed equity financing facility with Fortrend Securities Pty Ltd. for exploration and development.

RiT plans $10 million

RiT announced that Stins Coman will invest $10 million in the company via a convertible loan agreement. The investing company is headed by RiT's chairman.

"This $10 million credit line, which will be granted to RiT on remarkable terms, especially in the current economic environment, is another indication of Stins Coman's commitment to RiT," chairman Anisimov said in a press release. "I am confident that this loan will allow RiT the necessary funds to continue to focus on implementing its growth strategies."

The three-year convertible unsecured loan will carry a 2.47% coupon and may be converted into ordinary shares at a 10% premium.

It may be called after Oct. 1 in amounts up to $5 million.

Based in Tel Aviv, Israel, RiT is a producer and supplier of infrastructure management and asset management solutions for improved control, utilization and maintenance of networks and datacenters. Its shares (Nasdaq: RITT) were unchanged Friday, closing at $0.40.

Osisko: C$10.64 million

Gold explorer Osisko Mining said it will sell C$10.64 million in flow-through common shares at C$8.75 apiece.

The 1,216,000 shares are being sold in a non-brokered offering, slated to settle on June 30.

"These funds will allow us to pursue aggressively our exploration programs with the objective of increasing our reserve and resource base," president and chief executive officer Sean Roosen stated.

The company is based in Montreal; its shares (Toronto: OSK) dropped 1.42% Friday, or 10 cents, to close at C$6.92.

On Thursday, the company saw an 8% jump in its share price but said in a press release that it was not aware of any material information that may have contributed to the price increase and level of trading activity. According to Reuters, the company's stock was the second most active on the Toronto Exchange on Thursday.

The statement was made at the request of the Investment Industry Regulatory Organization of Canada.

Terrain seals A$5 million

Perth, Australia's Terrain Minerals said it has secured a A$5 million three-year committed equity financing facility with investor Fortrend Securities.

"TMX is delighted that after a detailed review of the company and its prospects, Fortrend has agreed to make available the A$5 million facility," Terrain managing director Keith Wells said in a release.

"Terrain has some very exciting gold and nickel prospects," the investor's chief executive Joe Forster added in the release. "We are delighted to be able to help Terrain fund the development of these projects."

Fortrend will buy the shares at a 10% discount. The investor also will receive one option for every four shares, which will be exercisable at the share price.

The gold exploration company plans to use the proceeds to further develop its mining operations and test established exploration targets.

Company shares (Australia: TMX) were unchanged Friday, closing the week at A$0.057.

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