Canplats plans C$11.7 million; Largo negotiates C$3 million; Wyn prices C$1.12 million

By LLuvia Mares

New York, Jan. 25 - Leading PIPEs news, Canplats Resources Corp. announced it plans to raise C$10.13 million in a private placement of units. It also may raise C$1.58 million in a non-brokered placement of units.

"We have an expanded drill program in Mexico and that's where this money is going to be used," said R.E. Gordon Davis, company president. "Doing this private placement was one element where there was a lot of interest and it fitted our timeline."

The company will sell 4.5 million units at C$2.25 each on a bought-deal basis. The units consist of one share and one half-share warrant with each whole warrant exercisable at C$3.00 for two years.

Davis said the company will not be looking for any more acquisitions in the foreseeable future and the financing will be sufficient to cover the project.

The deal is being conducted by a syndicate of underwriters led by Canaccord Capital Corp. and including Macquarie North America Ltd., Bolder Investment Partners and National Bank Financial.

The company may also sell up to 700,000 units in a non-brokered private placement. These units would have the same terms as those sold in the brokered deal, and would bring the total number of units sold to 5.2 million.

The company's stock (TSX Venture: CPQ) closed at C$2.45 on Friday, down C$0.07 from Thursday's C$2.52 close.

Proceeds will be used to advance the company's mineral projects in Mexico and for general working capital purposes.

Vancouver, B.C.-based Canplats is a gold exploration company.

Largo negotiates C$3 million

In the mining sector, Largo Resources Ltd. announced it plans to conduct a C$3 million private placement of units.

The company will sell 5,454,545 flow-through units at C$0.55 each to MineralFields Group. The units consist of one flow-through share and one half-share warrant with each whole warrant exercisable at C$0.80 for 18 months.

Largo's stock (TSX Venture: LGO) closed at C$0.44, up C$0.03 from Thursday's C$0.41 close.

Each compensation option is exercisable into units at C$0.55 for 18 months. Each compensation unit will be comprised of one non-flow-through common share and one half-share warrant.

Proceeds will be used for exploration.

Largo is a Toronto-based resource development and exploration company.

Wyn prices C$1.12 million

In the natural resources division, Wyn Developments Inc. said it plans to conduct a C$1.12 million non-brokered private placement of units.

The company will sell 16 million units at C$0.07 each. The units consist of one share and one warrant with each warrant exercisable at C$0.10 for two years.

Proceeds will be used to fund acquisitions, cover testing, equipping and tie-in of the recently drilled a-38-A/94-G-15 Bougie Trutch Halfway development well and ongoing transaction costs in connection with the proposed amalgamation of Wyn, Flying A, Bighorn and Tenaka Drilling Consortium Ltd.

Wyn's stock (TSX Venture: WL) closed at C$0.0650 on Friday, up C$0.0050 from Friday's C$0.06 close.

Based in Vancouver, B.C., Wyn is an oil and natural gas exploration company.

Thin Film raises NOK 16 million

Thin Film Electronics ASA announced it completed a NOK 16 million private placement of shares.

The company sold 1.6 million ordinary shares at NOK 10 each.

Thin Film's stock (Oslo: THIN) closed at NOK 1.30 on Thursday and did not change Friday.

Proceeds will be used for operations and business development.

Based in Oslo, Norway, Thin Film uses polymers as the active material to make electronic memory devices.

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