Capital Watch: Cougar, Taruga and more

JUNIORS raise cash despite market volatility.
Capital Watch: Cougar, Taruga and more Capital Watch: Cougar, Taruga and more Capital Watch: Cougar, Taruga and more Capital Watch: Cougar, Taruga and more Capital Watch: Cougar, Taruga and more

Staff reporter

Brazil-focused Cougar Metals has executed a funding deal with The Lind Partners for up to A$3.15 million.

Under the agreement, Cougar will the funds over two years via convertible note placements and agreed monthly equity placements.

Taruga Gold has received firm commitments from a group of strategic and sophisticated investors, including Hongze Group, to raise $2.83 million at 21c per share.

Hongze approached the company following its latest results from its cobalt projects in the Democratic Republic of Congo.

Dual-listed uranium player Laramide Resources said it had arranged a non-brokered private placement to raise up to C$2.1 million, but demand saw the company up the offer to $3.3 million.

The company will issue 11 million units, with each unit comprising one share, one half of a share purchase warrant at 45c and one half of a share purchase warrant at 60c.

The funds will be used to advance projects in Australia and the US.

Verdant Minerals has placed A$2 million worth of shares to Regal Funds Management, a number of other Australian institutional and high net worth investors and new North American investors.

The proceeds from the raising will be used to complete the final stages of the environmental approvals for the Ammaroo phosphate project and the progression of the project to a final investment decision.

Tanga Resources has secured commitments from new and existing shareholders to raise $800,000 for zinc exploration in Namibia and gold exploration in Tanzania.

Shares will be issued at 0.8c each, with every two new shares to come with a 1.5c June 2019 option.

Greenpower Energy will raise $750,000 via a placement at 0.6c, a 13% discount to the five-day volume-weighted average price.

The funds will be used for further lithium exploration in Guyana.

Finally, Haiti-focused 3D Resources has received firm commitments to place $250,000 of shares at 0.4c each, with every two shares to come with a 0.7c option.