Jasper Mining to raise C$3.5 million; Melkior plans C$1.2 million; Berkeley, iLookabout merge

By LLuvia Mares

New York, Oct. 8 - It was a slow day in the PIPEs market Monday with no deals announced - but business should be back to a steady streak by mid-week, a market source said Friday.

Jasper Mining Corp. announced Friday it plans a private placement of units, to raise C$3.5 million.

"We are very pleased to be commencing our relationship with MineralFields Group," said Gordon Dixon, company chairman, in a press release. "This is an important milestone in the growth of Jasper Mining Corporation and we look forward to working with MineralFields Group as we develop our properties in B.C."

The company will sell 8,750,000 flow-through units of one flow-through common share and one warrant at C$0.40 per unit to MineralFields Group and First Canadian Securities. Each whole two-year warrant will be exercisable for one common share at C$0.75 for one year and at C$1.00 after that.

The company's stock (TSX Venture: JSP) closed at C$0.40 Friday and did not see any activity Monday since Canadian markets were closed for the Thanksgiving holiday.

Based in Calgary, Alta., Jasper is a mineral exploration company.

Melkior negotiates C$1.2 million of placements

The mining and oil sectors continued to strive this month with Melkior Resources Inc. announcement Friday that it plans to entered into an agreement with Becher McMahon Capital Markets Inc. for a C$1 million private placement of shares. The company said it also will raise C$200,000 in another placement of stock.

In the first deal, the company will sell up to 3,030,303 flow-through common shares at C$0.33.

In the second placement, Melkior will sell up to 606,060 flow-through common shares at the same price.

Proceeds will be used for exploration.

Ottawa-based Melkior is a uranium, gold and nickel exploration company.

iLookabout plans placement for reverse merger

In the technology sector, Berkeley Capital Corp. announced that it will merge with iLookabout Holdings Inc. and the newly formed company will conduct a private placement of stock to raise between C$5 million and C$10 million.

The new public iLookabout will sell at least 10,000,000 common shares and at most 20,000,000 shares at C$0.50 apiece.

iLookabout Holdings and Berkeley will mutually select the deal's agent.

Proceeds will be used for data capture, expansion of infrastructure, sales and marketing initiatives and for working capital.

Berkeley Capital Corp. I is a Toronto-based capital pool company. iLookabout Holdings is a private software company based in London, Ont., offering imaging solutions.

Nyfix sells convertible promissory note for $2.5 million

Nyfix, Inc. made PIPEs news after completing a $2.5 million private placement of a convertible promissory note with investor Whitebox Convertible Arbitrage Partners LP.

The note matures on Dec. 30, 2009 and bears interest at 5% per year. It is convertible into common stock at $5.65 per share.

Nyfix may force conversion under certain conditions, including that the company's stock trades above 150% of the conversion price.

Nyfix stock (Pink sheets: NYFX) closed Monday at $4.37, down $0.13 from Friday's $4.50 close.

The notes were issued after Whitebox exercised an additional-investment option under a $7.5 million private placement of convertible promissory notes that settled in December 30, 2004.

New York-based Nyfix provides technology and services to the financial industry.

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