Gensource Potash (GSP.V) on Monday said it will issue 9.9-million shares priced at $0.15 apiece to settle $1.5 million of unsecured, non-interest-bearing promissory notes owing to creditors.
The shares will be issued on a private placement basis and will be subject to a four-month hold period. The closing of the shares for debt transaction remains subject to the approval of the TSX Venture Exchange.
Shares of the company were last seen unchanged at $0.15 on the TSX Venture Exchange.
The 71% jump in Wealthsimple's assets under administration (AUA) to $125 billion in the fiscal first quarter has "clearly" been a factor in IGM Financial's (IGM.TO) share price performance over the last year, notes CIBC Capital Markets.Analyst Scott Fletcher, who accompanied IGM Financial management, including chief financial officer Keith Potter, for two days of West Coast marketing meetings last week, said the success of Wealthsimple's automated wealth management services "naturally" leads to questions about the future of advisor-led wealth management and how IG Wealth will compete going forward.However, the company sees more than enough room in the $8 trillion Canadian discretionary wealth management market for both models to succeed, and expects that, over the longer term, similarities in the business models will emerge, he notes."With Wealthsimple adding dedicated financial advisors and IG Wealth deepening its investments in technology, partnering with fintechs to broaden the product suite, and leveraging AI to improve advisor effectiveness, those similarities have already started to show up," Fletcher writes.IGM has a neutral rating and $79.00 price target at CIBC.Price: $78.56, Change: $+1.12, Percent Change: +1.45%
First Lithium Minerals (FLM.CN) plans to raise $4.9 million through a private placement of up to 44.9-million of its units (NFT unit) at $0.11 per NFT unit, it said Monday.Each unit is comprised of a share and one-half of a three-year warrant to buy a share for $0.18, and up to 3.3-million flow-through units (FT unit) made of a tax-advantaged share h share" and one-half of a warrant.Proceeds of the NFT units will be used for exploration drilling and brine sampling at the Ascotan Lithium project in Chile and working capital and general corporate needs. Closing is expected on or about June 9.The company said it may close a concurrent private placement of up to 5.1-million units at $0.11 per unit for about $565,751. Each unit will consist of a share and one-half of one warrant with the same terms.Shares of the company were last seen unchanged at $0.13 on the Canadian Securities Exchange.
HM Exploration (HM.CN) on Moanday said iot expanded its land position through the staking of additional mineral tenure at the company's Lewis Pilley's Project in Newfoundland.The new tenure consists of 67 mineral claims encompassing an additional 17 square kilometers and connects the northern and southern claim blocks, resulting in HM controlling the entirety of Pilley's Island.The new tenure increases total land position at the Lewis Project to around 60.25 square kilometers, said the company.It also noted diamond drilling continues at Clifford Jones Zone for a minimum of 2,500 meters."This marks the first time in recent history that the entirety of Pilley's Island has been consolidated under a single company," said chief executive Nick Rodway. "With district-scale control now in place, we are focused on unlocking additional VMS-style targets across the property while continuing to aggressively drill the Clifford Jones Zone, where several compelling targets have remained untested for years. We look forward to providing further updates as drilling progresses."Shares of the company were last seen up $0.03 to $0.47 on the Canadian Securities Exchange.Price: $0.47, Change: $+0.03, Percent Change: +6.82%