On Friday (2 May), a combination of Canadian and Australian junior mining companies announced capital raisings, including Vior (TSX-V:VIO), which raised C$39 million ($44.045 million) via a brokered private placement.
On 30 January 2025, the company launched the placement, which had an issue price of C$0.20 for each hard dollar unit and C$0.35 for each charity flow-through share.
Stifel Nicolaus Canada and Desjardins Capital Markets acted as co-lead agents and joint bookrunners to the placement.
Each hard dollar unit comprises one common share of Vior plus one common share purchase warrant. Each charity flow-through unit comprises one flow-through share and one warrant.
Vior says the funds will be used to advance exploration at the Belleterre Gold Project in Québec, as well as other projects, and for general working capital.
Kalo Gold (TSX-V:KALO) has increased the size of a previously announced private placement from C$2 million to C$4.52 million.
The upsized offering consists of 90.43 million units at $0.05 per unit. Each unit will comprise one share and one share purchase warrant, exercisable at $0.08 per share with a two-year expiry date.
Kalo Gold plans to use the funds towards a 9,000m diamond drilling program at the Vatu Aurum Project in Fiji, as well as for general working capital purposes.
At Vatu Aurum, the company will initially focus on the Namalau trend with drilling to begin in June 2025. Upon completion, drilling will focus on advancing other targets, as well as further drilling at the Qiriyaga Complex.
Australian junior explorer Arika Resources (ASX:ARI) has also decided to upsize its capital raising to $5 million to fast-track exploration at the Yundamindra and Kookynie gold projects in Western Australia.
Under the placement, shareholders can purchase shares at $0.023 per share, which represents a 13.4% discount to the five-day volume weighted average price on 29 April.
Canaccord Genuity and Bell Potter Securities will act as joint lead managers to the placement.
The funds will put Arika in a position to execute its exploration and growth plans at Yundamindra and Kookynie. Arika plans to begin drilling next week at Yundamindra, initially focusing on the high-priority Pennyweight Point and Landed at Last prospects.
Meanwhile, Westhaven Gold Corp (TSX-V:WHN) has entered into an agreement with Red Cloud Securities to act as sole agent and bookrunner for a private placement to raise C$4 million.
As part of the placement, shareholders will be able to purchase units at C$0.12 per unit, common shares at C$0.135 per flow-through share, and flow-through units at C$0.18 per unit.
Westhaven intends to use funds for working capital and general corporate purposes.
Write to Aaliyah Rogan at Mining.com.au
Images: Vior
