Zecotek plans C$3 million; Buffalo Resources gets C$2 million; Uranium negotiates $7 million

By LLuvia Mares

New York, Nov. 29 - In order to build the institutional following for Zecotek Photonics Inc.'s stock, the company is looking to raise C$3 million in a private placement of units.

"The company is currently moving from a research and development phase to a commercial phase so it will start generating revenue in fiscal year 2008," said Tim McNulty, company investor relations director. "With numerous leads in cutting-edge photonic technology, any of its products can be a blockbuster."

The company will sell 1,875,000 units at C$1.60 each. Each unit consists of one common share and one half share warrant. Each whole warrant is exercisable at C$2.10 for two years.

McNulty said with the company's thriving technology, it is very likely to continue to looking to the market for additional financing in the near future.

The company's stock (TSX Venture: ZMS) closed at C$1.90 on Thursday, up C$0.05 from Wednesday's C$1.85 close.

Proceeds will be used for working capital purposes and to fund projects. The deal is expected to settle on

Based in Vancouver, B.C., Zecotek is a photonics technology company developing high-performance crystals, photo detectors, lasers, optical imaging and 3D display technologies for commercial applications in the medical diagnostics and high-tech industry.

Buffalo Resources gets C$2 million

With the end of the year nearing, Buffalo Resources Corp., among other companies, is issuing flow-through shares as a way to raise financing, according to a market observer.

Buffalo announced Thursday it pocketed C$2 million in a private placement of shares.

"We get a higher price for the flow-through shares," said Trevor Penford, company senior vice president and chief financial officer. "We gave up the tax incentive, but we can afford to do that so that's kind of the trade-off."

The company will sell 1,515,152 flow-through common shares at C$1.32 apiece on a bought-deal basis.

The deal is being conducted by a syndicate of underwriters led by Acumen Capital Finance Partners Ltd. and including Research Capital Corp. and Evergreen Capital Partners Inc.

Penford said no short-term plans for additional financing are in the works at the moment, however the company will be expanding.

Buffalo Resources' stock (TSX Venture: BFR) closed at C$1.10 on Wednesday and did not see any significant change on Thursday.

Proceeds will be used to fund Buffalo's ongoing capital expenditure program. The deal is expected to settle on Dec. 19.

Calgary, Alta.-based Buffalo is an emerging junior oil and gas company engaged in the exploration, development and production of oil and gas reserves in Alberta.

Uranium negotiates $7 million

For a small company Uranium Energy Corp. is finding the PIPEs market the best means - hence its plans to raise $7 million in a private placement of units.

"We are a development stage company so at this point the main instrument we use is equity," said Amir Adnani, company president and chief executive officer.

"We also like the valuation that we were at for the size of the private placement. There are no hard assets in terms of either reserves or equipment the company can use as a way of providing that financing."

The company will sell up to 1,866,667 units at $3.75 each. Each unit consists of one common share and one transferable warrant. Each whole warrant is exercisable at $4.25 for one year.

"You really have to look at the development in the nuclear sector right now, it's expanding," Adnani said.

"There is a big shortfall for uranium moving forward. The market isn't going to be back in equilibrium for the next five or six years so our company really is a proxy for the growth and rising uranium prices that we are going to have for years to come.

"We are searching for uranium and we think we can be in production in just a couple of years and this development has all taken place in a fairly rapid expanding sector at this point," he said.

The company's stock (Amex: UEC) closed at $3.67 on Thursday, down $0.02 from Wednesday's $3.69 close.

Proceeds will be used to advance the company's Goliad project, for exploration and development activities, for land and project acquisitions and for general corporate purposes. The deal will settle on Dec. 12.

Uranium Energy is a resource company based in Austin, Texas.

Colombia Goldfields to sell C$15 million

In an effort to raise funds for more expansion and exploration, Colombia Goldfields Ltd. is negotiating a C$15 million private placement of units.

"The purpose is to support the company's strategy of consolidating this region and so that is what the use of these proceeds will be for,' said Michelle Roth, president of Roth Investor Relations, Inc. "The closing is expected to take place within two weeks."

Each unit will consist of one common share and one half share warrant.

The company's stock (Nasdaq: RMTI) closed at C$1.41 on Thursday, up C$0.06 from Wednesday C$1.35.

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

Based in Toronto, Colombia Goldfields is a gold exploration company which is advancing two projects known as the Marmato Mountain Development Project and the Caramanta Exploration Project, both of which are located in Colombia's Marmato Mountain Gold District.

Rockwell pockets $12.95 million in private

In the medical technology sector, Rockwell Medical Technologies, Inc. made news after selling $12.95 million in a private placement of units.

The company sold 2,158,337 units at $6.00 apiece. Each unit consists of one common share and one half-share warrant. The warrants are exercisable at $7.18.

Rockwell's stock (Nasdaq: RMTI) closed at $7.50 on Thursday, up $0.01 from Wednesday's $7.50 close.

Proceeds will be used for development of the company's iron maintenance therapy drug, SFP (soluble ferric pyrophosphate).

Wixom, Mich.-based Rockwell Medical is a manufacturer and developer of renal drug therapies.

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