Cadillac Mines (CADY.TO) released new assay results from the Kerr-Addison deposit in Ontario that demonstrated potential for adding to in-pit resources.
Highlights from the results include 2.13 grams per tonne gold over 38.2 meters. The results also added new mineralization in areas previously considered waste, the company said Wednesday.
IsoEnergy (ISO.TO) and DISA Technologies after trade Wednesday said they completed their deal to create DISA Uranium Corp., a new U.S. uranium company.IsoEnergy contributed its portfolio of permitted, past-producing uranium mines in Utah, including the Tony M, Daneros, Rim, Sage Plain and Flatiron projects, to DISA Uranium in exchange for nearly 1.68-million common shares, the company said."DISA Uranium combined IsoEnergy's Utah Portfolio with DISA's proprietary HPSA technology and remediation and recovery business," it added.Concurrently, DISA Uranium completed a $105-million private placement. IsoEnergy invested $33 million in the financing. Following the transaction and financing, IsoEnergy owns about 33% of DISA Uranium on a fully diluted basis, making it the company's largest shareholder, according to the statement.DISA Uranium's board now has seven directors, including IsoEnergy Chairman Richard Patricio and Chief Executive Phillip Williams, as well as representatives from Tembo Capital and DISA's existing board, the company said.
McFarlane Mining (MLM.CN) said Wednesday after trade it is raising C$15 million through a private placement of shares.The company will raise C$11 million through the issue of 21-million flow-through shares at C$0.525 apiece, and a further C$4 million through the sale of 10.5-million common shares at C$0.38 each. The underwriters have been granted an over-allotment option of 5.9 million shares at the same price, which, if fully exercise would raise C$2.25 million.The offering is expected to close on Sept. 9.The company overnight Tuesday said it was extending the maturity date of the outstanding $1.7 million of its 15% senior debentures from Oct. 26, 2026, to Oct. 31, 2027.The amendment also eliminates McFarlane's obligation to fund and top up the interest reserve, a statement said.McFarlane Mining shares closed up C$0.05, to C$0.45, on the TSX Venture Exchange.
TerraVest Industries (TVK.TO) said Wednesday it received approval from the Toronto Stock Exchange to launch a normal course issuer bid to repurchase and cancel up to 1.5-million of its shares.Purchases under the bid may commence on Aug. 24 and runs for up to 12 months.Under its current NCIB, which expires on Aug.21, the company repurchased 260,000 shares of the 1.56-mllion allowed.Shares of the company closed down C$0.29 to C$117.70 on Toronto Stock Exchange.