SolarCity and Goldman Sachs Create Largest U.S. Rooftop Solar Lease Financing Platform
Collaboration Expected to Fund more than $500 Million in Solar Projects, 110 Megawatts of Solar Capacity
SolarCity (SCTY), a leading provider of clean energy, today announced a lease financing agreement with Goldman Sachs (GS) to fund more than $500 million in solar power projects; an estimated 110 megawatts in generation capacity for homeowners and businesses.
The financing makes it possible for homeowners, businesses, government and other non-profit organizations to install solar panels with no upfront cost and pay less for clean, solar electricity than they currently pay for utility bills. The agreement was initiated in 2012 and expanded per its initial terms at the end of April.
Allied Nevada Announces US$150.5 Million Bought Deal Financing
Allied Nevada Gold Corp. ("Allied Nevada", "we", "us", "our" or the "Company") (TSX:ANV)(NYSE Amex:ANV)(NYSE MKT:ANV) announces that the Company has entered into an agreement with a syndicate of underwriters, led by Dundee Securities Ltd. and including Cormark Securities Inc. (collectively, the "Underwriters"), which have agreed to purchase, on a bought deal equity financing basis, 14,000,000 shares of common stock of the Company (the "Shares") at a price of US$10.75 per Share, for aggregate gross proceeds to the Company of US$150,500,000. The Underwriters will also have the option, exercisable in whole or in part at any time up to 30 days after the closing of the offering, to purchase up to an additional 2,100,000 Shares at a price of US$10.75 per share to cover over-allotments. In the event that the over-allotment option is exercised in its entirety, the aggregate gross proceeds of the offering to the Company will be US$173,075,000.
Cline Mining announces entering into recapitalization agreement
Cline Mining Corporation ("Cline" or the "Company") (TSX:CMK) announced today that it has entered into the definitive recapitalization agreement (the "Recapitalization Agreement") with Marret Asset Management Inc., as agent for the bondholders and standby purchasers party thereto. The transactions contemplated by the Recapitalization Agreement were disclosed by the Company on December 27, 2012. Pursuant to the Recapitalization Agreement, the Company has filed a preliminary short form prospectus dated April 25, 2013 (the "Preliminary Prospectus") with respect to the rights offering and issuance of warrants to its shareholders, as described in greater detail in the Preliminary Prospectus.
Travelzoo Reports First Quarter 2013 Results
Travelzoo Inc. (TZOO):Revenue of $42.2 million, up 7% year-over-year Net income of $5.6 million, up 49% year-over-year Earnings per share of $0.36, compared to $0.23 (GAAP) / $0.42 (non-GAAP) in the prior-year period Cash flow from operations of $6.5 million
Travelzoo Inc., a global Internet media company, today announced financial results for the first quarter ended March 31, 2013, with revenue of $42.2 million, an increase of 7% year-over-year. Operating profit was $8.0 million. Net income was $5.6 million, with earnings per share of $0.36, up from $0.23 in the prior-year period. Non-GAAP earnings per share was $0.36, down from $0.42 in the prior-year period.
Cline Mining proceeds with Marret Plan
Cline Mining Corporation ("Cline" or the "Company") (TSX:CMK) announced today that it has not received the $2.5 million deposit from Portpool Investments Ltd. by the 5:00 p.m. (EDT) deadline on April 10, 2013 pursuant to the subscription agreement with Portpool dated April 1, 2013.
Cline is currently proceeding with the alternative restructuring transaction (the "Marret Plan") that was previously negotiated with Marret Asset Management Inc., on behalf of certain funds advised by it, as first described in Cline's press release of December 27, 2012. Pursuant to the Marret Plan, Cline expects to file a preliminary prospectus with respect to a rights offering as soon as possible.
Sulliden Announces Strategic Investment by Agnico-Eagle Mines Limited
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./
Sulliden Gold Corporation Ltd. ("Sulliden", or the "Company") (TSX:SUE.TO - News) (BVL:SUE.TO - News) (OTCQX:SDDDF - News) announces that Agnico-Eagle Mines Limited ("Agnico-Eagle") has entered into a subscription agreement to make a strategic investment of $24,000,000 into Sulliden through a non-brokered private placement of units. As a result of the transaction, Agnico-Eagle will own 9.96% of Sulliden's issued and outstanding shares on a non-diluted basis.
Argentex Mining Announces $5.0 Million Strategic Investment From Austral Gold Ltd.
Argentex Mining Corporation ("Argentex" or the "Company") (TSX VENTURE:ATX)(AGXMF) is pleased to announce that it has signed a Term Sheet with Austral Gold Limited ("Austral Gold") (AGD.AX) pursuant to which Austral Gold has agreed that it or one of its affiliates (the "Purchaser") will purchase, in a private placement, 17,347,866 units (each, a "Unit") of the Company at a price of $0.2882 per Unit for gross proceeds of $5,000,000 (the "Financing"). Each Unit will consist of one Argentex common share (each a "Unit Share") and one-half of one share purchase warrant (each whole warrant a "Unit Warrant"), and each Unit Warrant will entitle the holder to purchase one additional Argentex common share at an exercise price of $0.40 for a period of 60 months from closing. The Unit Share price represents a 92% premium, and the Unit Warrant exercise price represents a 167% premium, to the closing price of the Company's common shares on the TSX Venture Exchange on March 22, 2013.
Rockwell Medical to Raise $12.9 Million in Registered Direct Common Stock Offering
Rockwell Medical, Inc. (RMTI), a fully-integrated biopharmaceutical company targeting end-stage renal disease (ESRD) and chronic kidney disease (CKD) with innovative products and services for the treatment of iron deficiency, secondary hyperparathyroidism and hemodialysis, announced today that it has entered into definitive agreements to sell 4,300,000 common shares at $3.00 per share in a registered direct offering for an aggregate offering amount of approximately $12.9 million. The net proceeds from the offering, after commissions and other estimated offering expenses, will be approximately $12.0 million. The closing of the offering is expected to take place on or before Monday, March 25, 2013, subject to the satisfaction of customary closing conditions.
Olivut Resources Ltd. Announces Innovative Funding Commitment for Up to $18 Million
Olivut Resources Ltd. ("Olivut" or the "Company") (TSX VENTURE:OLV) is very pleased to announce that it has entered into a Securities Purchase Agreement (the "Agreement") to raise up to $18 million over approximately the next 36 months in a tranched placement of securities to the Canadian Special Opportunity Fund, L.P., a fund managed by The Lind Partners, a New York-based asset management firm (together "Lind") focused on junior natural resource companies. It is anticipated that the initial cash advance date under the Agreement will occur on March 13, 2013.
OCZ Technology Obtains $30 Million Credit Facility With Hercules Technology Growth Capital
OCZ Technology Group, Inc. (OCZ), a leading provider of high-performance solid-state drives (SSDs) for computing devices and systems, today announced that it has entered into a $30 million loan and security agreement ("loan agreement") with Hercules Technology Growth Capital, Inc. ("Hercules"). This loan agreement consists of a $15 million term loan and a $15 million revolving loan facility.
"Obtaining this new credit facility is the first step in providing OCZ with a complete capital structure going forward. This capital will be used to strengthen the business, fund future growth, and support emerging enterprise opportunities," said Ralph Schmitt, CEO of OCZ Technology. "I am pleased with the operational improvements our team is making as we continue building a profitable OCZ which is focused on designing innovative, best-in-class Solid State Storage solutions for our valued customers."
Kelt announces $94.35 million equity financing
Kelt Exploration Ltd. ("Kelt" or the "Company") is pleased to announce a brokered and non-brokered equity financing for gross aggregate proceeds of $94.35 million.
Brokered Private Placement
Kelt is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by Peters & Co. Limited, and including FirstEnergy Capital Corp., RBC Capital Markets, Scotia Capital Inc., CIBC World Markets Inc., Cormark Securities Inc., Dundee Securities Ltd., Macquarie Capital Markets Canada Ltd., National Bank Financial Inc., GMP Securities Inc., and Stifel Nicolaus Canada Inc. (collectively the "Underwriters"), under which the Underwriters have agreed to purchase for resale to the public, on a bought deal private placement basis, 11.0 million common shares of Kelt at a price of $5.55 per common share, resulting in gross proceeds of $61,050,000.
Entree Gold Secures US$55 Million Financing Package From Sandstorm Gold
Entrée Gold Inc. (TSX:ETG)(NYSE MKT:EGI)(FRANKFURT:EKA) ("Entrée" or the "Company") announces that it has entered into a comprehensive financing package with Sandstorm Gold Ltd. (TSX:SSL)(NYSE MKT:SAND) ("Sandstorm") for immediate gross proceeds of approximately US$55 million.
The financing package consists of three key components:Equity participation and funding agreement ("Funding Agreement") that provides for a US$40 million upfront deposit and ongoing payments from Sandstorm. In return, Entrée will use future payments that it receives from its mineral property interests to purchase and deliver metal credits, in amounts that are primarily indexed to Entrée's share of gold and silver by-products and, to a lesser extent, copper production from the Company's joint venture property in Mongolia
ModusLink Announces $30 Million Investment Agreement with Steel Partners Holdings L.P.
Steel Holdings agrees to acquire 7.5 million ModusLink shares at $4 per share, representing 45% premium Company announces settlement with Handy & Harman Ltd. in relation to upcoming annual meeting of stockholders
ModusLink Global Solutions(TM),Inc. (MLNK) today announced that it has entered into an investment agreement with Steel Partners Holdings L.P. (NYSE: SPLP, “Steel Holdings”), which together with certain affiliates, including Handy & Harman Ltd. (NASDAQ: HNH, “Handy & Harman”) (together, the “Steel Group”), beneficially owns 14.9 percent of ModusLink’s outstanding shares.
Kingold Jewelry Announces Sale of Common Stock to China-based Investors for $12.6 Million
Kingold Jewelry, Inc. (KGJI), ("Kingold" or the "Company"), one of China's leading manufacturers and designers of high quality 24-karat gold jewelry, ornaments and investment-oriented products, today announced that the Company has entered into a Subscription Agreement ("Agreement") with three individuals providing for the sale of 7,000,000 shares of its common stock at a price of $1.80 per share for gross proceeds of $12,600,000.
The Company also issued to the investors, on a pro rata basis, warrants to purchase up to an additional 2,800,000 shares of its common stock at an exercise price of $1.80, which warrant is not cashless exercise but is exercisable at any time in whole or in part for twelve months following the date of the Agreement.
NewLead Holdings Ltd. Receives Investment of $236.4 million
NewLead Holdings Ltd. (NEWL) ("NewLead") today announced that the Company received a capital contribution of industrial metal valued at $236.4 million for a 36.8% equity interest in NewLead.
Michael Zolotas, President and Chief Executive Officer of NewLead, stated, "this significant investment demonstrates confidence in the management team and the future of NewLead. The investment will provide valuable collateral for loans funding our capital-intensive activities and provides a solid platform to execute on our diversified growth strategy."
Cline Mining Enters Into Agreement for Financial Restructuring
Cline Mining Corporation ("Cline" or the "Company") (CMK.TO) announced today that it has entered into an agreement with Marret Asset Management Inc. ("Marret"), on behalf of certain funds advised by it, providing for a financial restructuring (the "Restructuring") of the Company. Under the terms of the Restructuring, adjustments will be made to the terms of the Company''s outstanding 10% senior secured bonds (the "Bonds") and, subject to approval by the Toronto Stock Exchange (the "TSX"), the exercise price of the company''s outstanding share purchase warrants will be changed and additional securities of the Company will be issued as described below.
Africa Oil Announces $193.75 Million Private Placement
THIS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES Africa Oil Corp. (TSX VENTURE:AOI)(OMX:AOI) ("Africa Oil" or the "Company") reports that it will sell, on a non-brokered, private placement basis, an aggregate of up to 25 million common shares at a price of Cdn $7.75 per share for gross proceeds of up to Cdn $193.75 million. A 4% finder's fee may be payable on all or a portion of the private placement. Net proceeds of the private placement will be used towards the Company's ongoing work program in East Africa as well as for general working capital purposes.
Keegan Closes Non-Brokered Private Placement with Highland Park
Keegan Resources Inc. (TSX:KGN)(NYSE MKT:KGN)(NYSE Amex:KGN) ("Keegan" or the "Company") is pleased to announce that it has completed its previously announced non-brokered private placement for gross proceeds of CAD$32.5 million by issuing 9,443,500 units (the "Units") of the Company at a price of CAD$3.44 per Unit (the "Offering"). The price of the Units were the five-day volume weighted average market price based on the date of signing of the principal subscription agreement with Highland Park. Each Unit consisted of one Common Share of the Company as well as one Warrant to purchase a Common Share in the Company for a period of two years at a price of $4.00 per share. Should the Company's share price trade at a price of greater than $6.00 per share for a period of twenty consecutive trading days, the Company will have a right to accelerate the exercise period of the Warrants to 30 days. The exercise of all of the Warrants within the Offering would raise an additional $37.8 million.
Jaguar Mining Inc. Announces the Arrangement of $30 Million Credit Facility with Renvest Mercantile Bancorp Inc. Global Resource Fund
Jaguar Mining Inc. ("Jaguar" or the "Company") (JAG: TSX/NYSE) is pleased to announce that it has arranged a $30 million standby credit facility ("the Facility") with Renvest Mercantile Bancorp Inc. ("Renvest" or "the Lender") through its Global Resource Fund. The Facility is expected to close on or before November 28, 2012 subject to completion of requisite due diligence by the Lender and the finalization of the required loan documentation. Upon closing, Jaguar will draw down US $5,000,000 from the Facility ("the Initial Drawdown").
Interest will be applied to the outstanding balance of all amounts drawn down from the Facility at a fixed rate of eleven (11%) per annum, payable monthly in arrears. In consideration for the Facility, Renvest will be paid a standby set-up fee as follows:
Xinergy Ltd. receives new US $20 million financing commitment
Xinergy Ltd., (TSX:XRG) ("Xinergy" or the "Company"), a Central Appalachian coal producer, announced today that it has secured a US $20 million financing commitment from affiliates of Bayside Capital Inc. ("Bayside") on behalf of various funds under its management ("Lenders"), replacing a commitment previously obtained by the Company on July 27, 2012. The financing commitment contemplates a US $20 million first lien senior secured term loan facility that the Company can draw in two tranches of $10 million each, bearing interest at a rate of 9.875% per annum and having a four year term.