International Gold pockets $3.35 million; Renforth sells C$2.99 million; Radiant negotiates C$1.37 million

By LLuvia Mares

New York, Nov. 21 - International Gold Resources, Inc. is set to resume unfinished work on one of its projects after settling two private placements totaling $3.35 million.

"This financing will give us some breathing room for the next eight or nine months and also gives us the ability to complete work on some properties we had started on that will give us some good asset bases for the company," said Lyle Durham, company vice president of investor relations.

The company sold 1,083,333 units at $0.60 each in the first offering for a total of $650,000. The units are made up of a share and a warrant to purchase a further share at an exercise price of $1.50.

The company also sold $2.7 million in a second offering of warrants to buy an additional 4.5 million units, with each unit consisting of a warrant to purchase one share at $0.60 and a warrant to buy one share at $1.50. Both warrants expire a year from the date the company files an amended and restated charter with the Delaware Secretary of State.

The company's stock (Pink sheets: IGRU) closed at $0.92 on Wednesday, up $0.11 from Tuesday's $0.91 close.

Durham said the company issued two separate private placements after running out of authorized shares.

"We decided to two separate private placements because we were in the middle of authorizing more shares for the company and we had run out of shares so we had to do another warrant deal," he said.

Proceeds will be used for continuation and advancement of the company's gold and manganese projects in Brazil and the Yukon as well as for general corporate purposes.

Denver-based International Gold is an early stage gold exploration company.

Renforth sells C$2.99 million

Renforth Resources Inc. said issuing flow-through shares was the best opportunity for the company to get the most out of its financing.

"These funds will allow us to further our exploration," said David Danziger, president and chief executive officer. "There is a good potential in our properties for finding diamonds."

Renforth raise C$2,992,500 in a non-brokered private placement of shares on Wednesday.

The company sold 5,985,000 flow-through common shares at C$0.50 per share to the MineralFields Group.

Proceeds will be used for exploration and development.

Toronto-based Renforth Resources is a new junior mineral exploration and development company focusing on diamond exploration and development in Northern Ontario. The company currently is in the process of completing a listing with the TSX Venture Exchange.

Radiant negotiates C$1.37 million

As producer of infrared alternative to traditional glycol-based aircraft deicing, Radiant Energy Corp. believes its product will help convince investors to come up with the funds it needs to continue their ongoing projects. The company plans to conduct a C$1.37 million non-brokered private placement of shares.

"This system will reduce the amount of glycol use by 90% and it helps avoid delays, such as the ones in New York last Valentine's Day and last March," said Colin V. F. Digout, company president. "Because of the facilities being undercover, aircrafts are ensured to depart versus trying to deice outside in the icing conditions."

The company will sell 12.5 million common shares at C$0.11 each.

Radiant's stock (TSX Venture: RDT) closed at C$0.165 on Wednesday, up C$0.150 from Tuesday's C$0.15close.

The deal is expected to settle on Dec. 22.

Digout said there is a possibility the company will be searching for additional financing and acquisitions in the new year.

Based in Port Colborne, Ont., Radiant produces an infrared pre-flight aircraft de-icing system.

Shaw to raise A$3 million

In other news, Shaw River Resources Ltd. plans to negotiate a A$3 million private placement of shares. The deal will be conducted in two tranches.

The company will sell a total of 20 million shares at A$0.15 per share.

The company will raise A$1.23 million by selling 8.2 million shares in the first tranche.

It will raise A$1.77 million in the second tranche by selling 11.8 million shares to Atlas Iron, directors and other investors. Atlas will buy A$1.15 million of the shares in that tranche.

The company's stock (Australia: SRR) closed at A$0.18 on Tuesday and did not see any significant change on Wednesday.

Proceeds will be used for exploration.

Based in West Perth, Western Australia, Shaw River Resources is focused on the discovery, definition and development of high-value mineral deposits.

Bioxel raises C$3.66 million

Making lead news in the pharma sector, Bioxel Pharma Inc. pocketed a previously announced private placement of 10% convertible unsecured debentures due in 2014, raising C$3,659,000. The deal priced for between C$5 million and C$8 million on Sept. 4.

As previously reported, each debenture will be convertible into common shares at C$0.16 per share during the first two years. For each subsequent year, the conversion price will be at least 10% higher than the conversion price in the preceding year. After May 1, 2009, the debentures will become redeemable.

On maturity, holders may elect to accept shares as payment for the notes' principal and accrued interest. As part of the offering, holders received 22,868,750 warrants to purchase common shares at C$0.16 per share for two years.

The company's stock (TSX Venture: BIP) closed at C$0.1350 on Wednesday, down C$ 0.250 from Tuesday's C$0.16 close.

Paradigm Capital Inc. was the lead agent for the offering. Laurentian Bank Securities Inc. was part of the syndicate.

Proceeds will be used to fund commercialization, product development of new taxane ingredients including docetaxel and working capital.

Based in Sainte-Foy, Quebec, Bioxel is a biopharmaceutical company focused on developing drugs to treat arthritis, Alzheimer's disease and cardiovascular disease.

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