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FINWIRES

Westgate Energy Upsizes Bought Deal LIFE Offering to CA$6.5 Million

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Westgate Energy (WGT.V) increased the size of its "bought deal" private placement offering to about CA$6.5 million from CA$5 million, it said in a statement late Thursday.

The company said the underwriter agreed to buy, on a bought deal private placement basis, 26-million units, each consisting of one share and one warrant, at CA$0.25 apiece, subject to some conditions. Each two-year warrant will entitle the holder to buy a share for CA$0.35.

Shares of the company closed up 8.7% at CA$0.25 on Thursday on the TSX Venture Exchange.

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Mining & Metals

Allied Gold Reports Progress at the Kurmuk Mine in Ethiopia

Allied Gold (AAUC.TO) after trade Thursday provided a progress update on its Kurmuk Mine in Ethiopia.The company said the mine is nearing the end of commissioning and moving toward full operations. Once operational, Kurmuk is expected to become one of Allied Gold's major gold mines.A major milestone has been reached with the mine now connected to Ethiopia's national electricity grid via an 88-kilometer-long power line, the company added.First ore has also been fed into the processing facility's crushing circuit. Mining is progressing as planned, and ore stockpiles are building to support the ramp-up toward commercial production, the company said.

$AAUC.TO
Mining & Metals

Reitmans Fiscal Second-Quarter Net Earnings Fall YoY

Reitmans (RET.V) said Thursday after trade its fiscal second-quarter net earnings fell 23% to CA$0.20, from CA$0.26, in the prior year period.Net revenue for the clothing company edged down 1.9% to CA$211.8 million, in the quarter ended Aug.1, a statement said."Our second quarter reflected deliberate, strategic execution across our brands," said Chief Executive Andrea Limbardi. "While net revenues were modestly below last year, we meaningfully improved gross margin through stronger regular-price selling, a more disciplined promotional strategy and tighter inventory management.Reitmans shares closed up CA$0.01, to CA$2.22, on the TSX Venture Exchange.

$RET.V
Mining & Metals

Vext Science Reopens Ohio Dispensary, Extends Maturity of Acquisition Notes to 2029

Vext Science (VEXT.CN) said Thursday it reopened its Herbal Wellness Center dispensary in Jackson, Ohio, after receiving authorization from the Ohio Division of Cannabis Control.The company also said its Vapen Ohio subsidiary and certain holders of promissory notes issued in connection with its 2023 acquisitions of Appalachian Pharm Products and APP1803 agreed to restructure the notes.The restructuring would extend the maturity date of the notes to Jan. 15, 2029, Vext said.The APP Notes, issued in an original principal amount of $6.0 million, were scheduled to mature on Dec. 31, 2026, with a balloon payment of $5.6 million. Pursuant to the restructuring, $2.4 million will be paid in cash on the first business day of Jan. 2027.The APP notes held by the continuing noteholders, representing approximately $3.2 million of remaining principal, will be canceled and replaced with new promissory notes issued by Vapen Ohio, Vext said.

$VEXT.CN