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News for ADT
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Adroit prepares to have a go at Southern Tuscany
2005-01-25 16:39 ET - News Release
Mr. Graeme Rowland reports
SOUTHERN TUSCANY GOLD PROJECT VISIT
Adroit Resources Inc. chairman and president, Graeme Rowland, has recently returned from a site visit to the Southern Tuscany gold project
http://www.stockwatch.com/swnet/newsit/newsit_newsit.aspx?bid=B-415537-C:ADT&symbol=ADT&news...
Thanks for the list - a few of my stocks have been bought up by RAB and I like their track record. I put them in links to the stockwatch server as follows (10 per link limit) (EXR, QTZ & SGVL don't work - I guess they have a few delisted stinkers too.)
http://www.stockwatch.com/oldsite/oldsite_quote.aspx?symbol=ADA+ADB+ADT+AFK+AMC+APM+BDI+BM+BPR+CPN
http://www.stockwatch.com/oldsite/oldsite_quote.aspx?symbol=CTG+DIB+EAM+ENM+FR+GL+GSL+GWG+HAT+QBYRE
http://www.stockwatch.com/oldsite/oldsite_quote.aspx?symbol=IAU+IPR+IRK+JBO+JLB+KAN+KGI+LGO+LAL+MJS
http://www.stockwatch.com/oldsite/oldsite_quote.aspx?symbol=MSK+ORS+PLG+ROK+RSM+SAM+SKY+SGV+SLV+SPM
http://www.stockwatch.com/oldsite/oldsite_quote.aspx?symbol=SRG+SQZ+SVL+TBM+TDC+TMI+TNR+TVC+TWD
Thanks, you've been promoted.
RAB has purchased 1.7M units of Starcore Intl. Ventures -SAM.V-
@ .45 ...each unit representing potentially two shares of stock ... one share + one warrant... the warants are exercisable @ .60 for two years.... the purchase will amount to 30.77% of all issued shares, if & when all warrants are exercised...
http://www.starcore.com/
SAM is a Canadian junior explorer which has its 1st project at Cerro de Dolores, in Puebla, Mexico....this is not a grassroots operation, but rather much infrastructure is in place for a quick startup.... drills are set to start turning this month...
read the fine research by Lawrence Roulston & Greg McCoach at the co. site...
SVL SilverCrest attracts $2.79-million investment from RAB
2004-12-08 16:51 ET - News Release
Mr. Neil Warrender of Special Situations reports
RAB SPECIAL SITUATIONS L.P./SILVERCREST MINES INC.-ANNOUNCEMENT
RAB Special Situations L.P. has entered into a subscription agreement with SilverCrest Mines Inc. where it subscribed for a total of 3.1 million units of the company at a price of 90 cents per unit. Each unit consists of one common share and one-half of a common share purchase warrant of the company. Each warrant entitles Special Situations to purchase one share for a period of two years after closing at a price of $1.20 per share. The transaction took place off the market by way of private placement.
Special Situations has ownership of and control over the securities purchased in the private placement. The purchased securities represent approximately 17.89 per cent of the issued and outstanding shares on a partially diluted basis (assuming exercise of its warrants).
Immediately after the private placement, Special Situations owned 3.1 million shares and 1.55 million warrants representing approximately 17.89 per cent of the issued and outstanding shares on a partially diluted basis.
Special Situations purchased units for investment purposes only and not with the purpose of influencing the control or direction of the company. Special Situations together with joint actors, if any, may, subject to market conditions, make additional investments in or dispositions of securities of the company in the future, including additional purchases of shares. Special Situations and its with joint actors, if any, do not, however, intend to acquire 20 per cent of any class of the outstanding voting or equity securities of the company.
Jilbey Gold shares acquired by RAB Special Situations
2004-11-19 15:52 ET - News Release
Mr. Neil Warrender of RAB Special Situations reports
RAB SPECIAL SITUATIONS LP/JILBEY GOLD EXPLORATION LTD. -- ANNOUNCEMENT
Jilbey Gold Exploration Ltd. has entered into a subscription agreement with RAB Special Situations LP, pursuant to which it subscribed for a total of 1.8 million units of the company, at a price of 50 cents per unit. Each unit consists of one common share and one-half of one common share purchase warrant of the company. Each warrant entitles Special Situations to purchase one share until May 12, 2006, at a price of 70 cents per share. The transaction took place off the market by way of a private placement and closed on Nov. 12, 2004.
Special Situations has ownership of and control over the securities purchased in the private placement. The purchased securities represent approximately 8 per cent of the issued and outstanding shares on a partially diluted basis (assuming exercise of its warrants).
Immediately after the private placement, Special Situations owned 3.8 million shares and 1.9 million warrants, representing approximately 16 per cent of the issued and outstanding shares on a partially diluted basis.
Special Situations purchased units for investment purposes only and not with the purpose of influencing the control or direction of the company. Special Situations, together with joint actors, if any, may, subject to market conditions, make additional investments in or dispositions of securities of the company in the future, including additional purchases of shares. Special Situations and its joint actors, if any, do not, however, intend to acquire 20 per cent of any class of the outstanding voting or equity securities of the company.
RAB Special Situations L.P./Sargold Resource
Corporation-Announcement
LONDON, UNITED KINGDOM--(CCNMatthews - Oct. 22, 2004) - RAB Special
Situations L.P. ("Special Situations") announces that Special Situations
entered into a Subscription Agreement with Sargold Resource Corporation
(the "Company") where it subscribed for a total of 4,000,000 units of
the Company (the "Units"), at a price of Cdn.$0.30 per Unit (the
"Private Placement"). Each Unit consists of one common share (a "Share")
and one share purchase warrant (each whole warrant being a "Warrant") of
the Company. Each Warrant entitles Special Situations to purchase one
Share for a period of 24 months after closing at a price of Cdn.$0.36
per Share. The transaction took place off the market by way of private
placement and closed on October 19, 2004.
Special Situations has ownership of and control over the securities
purchased in the Private Placement. The purchased securities represent
approximately 20% of the issued and outstanding Shares on a partially
diluted basis (assuming exercise of its Warrants) ("Partially Diluted
Basis").
Immediately after the Private Placement, Special Situations owned
5,666,666 Shares and 4,833,333 Warrants representing approximately 26%
of the issued and outstanding Shares on a Partially Diluted Basis.
Special Situations purchased Units for investment purposes only and not
with the purpose of influencing the control or direction of the Company.
Special Situations together with joint actors, if any, may, subject to
market conditions, make additional investments in or dispositions of
securities of the Company in the future, including additional purchases
of Shares. Special Situations and its with joint actors, if any, do not,
however, intend to acquire 20% of any class of the outstanding voting or
equity securities of the Company.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
RAB Special Situations L.P.
Mr. Neil Warrender
(44) 20-7389-7000
nw@rabcap.com
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
RAB Special Situations L.P./Crowflight Minerals
Inc.-Announcement
LONDON, UNITED KINGDOM--(CCNMatthews - Oct. 18, 2004) - RAB Special
Situations L.P. ("Special Situations") announces that Special Situations
entered into a Subscription and Purchase Agreement with Crowflight
Minerals Inc. (the "Company") where it subscribed for a total of
5,000,000 units of the Company (the "Units"), at a price of Cdn.$0.20
per Unit (the "Private Placement"). Each Unit consists of one common
share (a "Share") and one share purchase warrant (each whole warrant
being a "Warrant") of the Company. Each Warrant entitles Special
Situations to purchase one Share for a period of 24 months after closing
at a price of Cdn.$0.30 per Share. The transaction took place off the
market by way of private placement.
Special Situations has ownership of and control over the securities
purchased in the Private Placement. The purchased securities represent
approximately 15% of the issued and outstanding Shares on a partially
diluted basis (assuming exercise of its Warrants) ("Partially Diluted
Basis").
Immediately after the Private Placement, Special Situations owned
7,100,400 Shares and 5,945,200 Warrants representing approximately 20%
of the issued and outstanding Shares on a Partially Diluted Basis.
Special Situations purchased Units for investment purposes only and not
with the purpose of influencing the control or direction of the Company.
Special Situations together with joint actors, if any, may, subject to
market conditions, make additional investments in or dispositions of
securities of the Company in the future, including additional purchases
of Shares. Special Situations and its with joint actors, if any, do not,
however, intend to acquire 20% of any class of the outstanding voting or
equity securities of the Company.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
RAB Special Situations L.P.
Mr. Neil Warrender
(44) 20-7389-7000
(44) 20 7389 7054 (FAX)
nw@rabcap.com
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Tyhee Development clarifies RAB subscription agreement
Tyhee Development Corp (TSX-V:TDC)
Shares Issued 31,578,507
Last Close 10/14/2004 $0.33
Friday October 15 2004 - News Release
Mr. Dave Webb reports
TYHEE CLARIFIES NEWS RELEASE BY RAB SPECIAL SITUATIONS LP
Tyhee Development Corp. has clarified a news release in Stockwatch issued by RAB Special Situations LP dated Oct. 14, 2004, in which it announced that it had entered into a subscription agreement with Tyhee Development Corp. Tyhee believes this release relates to a prior private placement, announced in Stockwatch on June 18, 2004, that closed on June 30, 2004. Tyhee has not entered into any new subscription agreement with any party.
RAB Special Situations L.P./St. Genevieve Resources
Ltd.-Announcement
LONDON, UNITED KINGDOM--(CCNMatthews - Oct. 14, 2004) - RAB
Special Situations L.P. ("Special Situations") announces that
Special Situations entered into a Subscription Agreement with St.
Genevieve Resources Ltd. (the "Company") where it subscribed for
a total of 10,000,000 units of the Company (the "Units"), at a
price of Cdn.$0.10 per Unit (the "Private Placement"). Each Unit
consists of one common share (a "Share") and one share purchase
warrant (each whole warrant being a "Warrant") of the Company.
Each Warrant entitles Special Situations to purchase one Share
for a period of 24 months after closing at a price of Cdn.$0.15
per Share. The transaction took place off the market by way of
private placement.
Special Situations has ownership of and control over the
securities purchased in the Private Placement. The purchased
securities represent approximately 17% of the issued and
outstanding Shares on a partially diluted basis (assuming
exercise of its Warrants) ("Partially Diluted Basis").
Immediately after the Private Placement, Special Situations owned
12,000,000 Shares and 12,000,000 Warrants representing
approximately 20% of the issued and outstanding Shares on a
Partially Diluted Basis.
Special Situations purchased Units for investment purposes only
and not with the purpose of influencing the control or direction
of the Company. Special Situations together with joint actors, if
any, may, subject to market conditions, make additional
investments in or dispositions of securities of the Company in
the future, including additional purchases of Shares. Special
Situations and its with joint actors, if any, do not, however,
intend to acquire 20% of any class of the outstanding voting or
equity securities of the Company.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
RAB Special Situations L.P.
Mr. Neil Warrender
(+44) 20 7389 7000
(+44) 20 7389 7054 (FAX)
nw@rabcap.com
The Canadian Trading and Quoting System has not reviewed and does
not accept responsibility for the adequacy or accuracy of this
release.
RAB Special Situations L.P./Tyhee Development
Corporation-Announcement
LONDON, UNITED KINGDOM--(CCNMatthews - Oct. 14, 2004) - RAB
Special Situations L.P. ("Special Situations") announces that it
entered into a Subscription Agreement with Tyhee Development
Corporation (the "Company") where it subscribed for a total of
3,750,000 units of the Company (the "Units"), at a price of
Cdn.$0.40 per Unit (the "Private Placement"). Each Unit consists
of one common share (a "Share") and one share purchase warrant
(each whole warrant being a "Warrant") of the Company. Each
Warrant entitles Special Situations to purchase one Share for a
period of 24 months after closing at a price of Cdn.$0.50 per
Share. The transaction took place off the market by way of
private placement.
Special Situations has ownership of and control over the
securities purchased in the Private Placement. The purchased
securities represent approximately 21% of the issued and
outstanding Shares on a partially diluted basis (assuming
exercise of its Warrants) ("Partially Diluted Basis").
Immediately after the Private Placement, Special Situations owned
3,750,000 Shares and 3,750,000 Warrants representing
approximately 21% of the issued and outstanding Shares on a
Partially Diluted Basis.
Special Situations purchased Units for investment purposes only
and not with the purpose of influencing the control or direction
of the Company. Special Situations together with joint actors, if
any, may, subject to market conditions, make additional
investments in or dispositions of securities of the Company in
the future, including additional purchases of Shares. Special
Situations and its with joint actors, if any, do not, however,
intend to acquire 20% of any class of the outstanding voting or
equity securities of the Company.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
RAB Special Situations L.P.
Mr. Neil Warrender
(+44) 20 7389 7000
(+44) 20 7389 7054 (FAX)
nw@rabcap.com
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
SQZ Serica Energy raises $2.9-million privately
2004-09-17 17:15 ET - News Release
Mr. Neil Warrender reports
RAB SPECIAL SITUATIONS L.P./SERICA ENERGY CORPORATION-ANNOUNCEMENT
Each of RAB Special Situations L.P., RAB Investment Funds PLC and RAB Energy Fund have subscribed for a total of 3,625,000 special warrants of Serica Energy Corp. at a price of 80 cents per special warrant. Each special warrant is convertible, for no additional consideration, into one common share and one-half of one common share purchase warrant of the company. Each whole warrant will entitle the holder to acquire one additional share of the company at a price of $1.20 per warrant share for a period of two years from the closing.
As part of the private placement, Special Situations, the fund and the energy fund acquired 750,000 special warrants, 375,000 special warrants and 2.5 million special warrants, respectively, at a price of 80 cents per special warrant representing, in the total, approximately 10.3 per cent of the issued and outstanding common shares of the company on a partially diluted basis (assuming exercise of their special warrants and warrants). Each subscriber has ownership of and control over the securities purchased in the private placement.
Immediately after the private placement, the subscribers owned, in total, approximately 10.3 per cent of the issued and outstanding common shares of the company on a partially diluted basis.
The subscribers purchased special warrants for investment purposes only and not with the purpose of influencing the control or direction of the company. The subscribers and/or their joint actors, if any, may, subject to market conditions, make additional investments in or dispositions of securities of the company in the future, including additional purchases of shares. The subscribers and/or their joint actors, if any, do not, however, intend to acquire 20 per cent of any class of the outstanding voting securities of the company.
I think it already qualifies. How much $$$$ do these guys have?
Might double bottom.
Nice results but they didn't do much for the stock.
Sargold SRG receives Sa Perrima assay results
2004-07-22 11:54 ET - News Release
Mr. Richard Warke reports
SARGOLD INTERSECTS HIGHEST GOLD GRADES TO DATE AT SA PERRIMA INCLUDING 14 METRES OF 11.75 G/TON AU.
Sargold Resource Corp. has received the gold assay results from six diamond drill holes drilled at the Sa Perrima stratabound gold-pyrite deposit at the Furtei gold mine in Sardinia, Italy. The holes were drilled to provide representative samples for metallurgical testing.
Inter- Gold
From To section grade
Hole No. (m) (m) (m) (g/t)
SPDM 001 37 77 40 2.38
including 44 54 10 5.29
SPDM 002 26 53 27 0.98
including 26 34 8 1.68
and 70 79 9 1.15
SPDM 003 50 53 3 1.80
and 57 58 1 1.17
SPDM 004 49 88 39 6.30
including 57 71 14 11.75
SPDM 005 71 95 24 2.12
including 79 95 16 2.77
including 80 84 4 5.82
SPDM 006 56 88 32 1.70
including 67 68 1 5.37
including 85 87 2 7.16
TNR Gold primes Shotgun, Iliamna projects for drilling
2004-08-18 16:44 ET - News Release
Mr. Gary Schellenberg reports
ALASKA PROJECTS UPDATE
TNR Gold Corp. has provided the following update regarding its exploration projects in Alaska.
Shotgun project
The company has mobilized an exploration crew to its Shotgun project in the Kuskokwim mineral belt in western Alaska. The focus of this year's program is to delineate drill targets on the Shotgun zone extension and at the Shot, King and Winchester showings. Previous work at Shotgun by joint-venture partner NovaGold Resources Inc. has identified an inferred resource of approximately one million ounces gold, with numerous targets still untested. (Note: This resource estimate is used as an historical reference only. It is not fully compliant with CIM standards on mineral resources and reserves used by NI 43-101. See "Summary Report for the Shotgun Gold Prospect, Kuskokwim Mineral Belt, Alaska," dated March 1, 2004, on SEDAR.) The company believes that there are several key similarities between the Shotgun occurrence and that of the 25-million-ounce Donlin Creek gold deposit to the north.
Iliamna project:
The company has been notified by joint-venture partner Geocom Resources Inc. that it intends to drill several new targets on the Iliamna project later this summer. Iliamna is also located in the Kuskokwin mineral belt in Alaska. The focus of this year's drilling program is to expand the porphyry copper-gold mineralization encountered in last year's drill program. At present Geocom, the project operator, is awaiting permits to be issued so that drilling can commence.
John Harrop, PGeo, is the company's qualified person for this news release.
Inca Pacific shares obtained by RAB and Richards
2004-08-26 17:18 ET - News Release
Mr. Neil Warrender of RAB Special Situations L.P.reports
RAB SPECIAL SITUATIONS L.P./INCA PACIFIC RESOURCES INC. -- ANNOUNCEMENT
Inca Pacific Resources Inc. has entered into separate subscription agreements with RAB Special Situations L.P. and William Philip Seymour Richards, where the subscribers subscribed for a total of 16,625,000 units of the company, at a price of 10 cents per unit. Each unit consists of one common share of the company and one common share purchase warrant. Each warrant entitles the subscribers to purchase one share for a period of two years at a price of 15 cents per share.
As part of the private placement, Special Situations and Mr. Richards acquired 16 million units and 625,000 units, respectively, at a price of 10 cents per unit, representing a total of approximately 30 per cent of the issued and outstanding common shares of the company on a partially diluted basis (assuming exercise of their warrants). Each subscriber has ownership of and control over the securities purchased in the private placement.
Immediately after the private placement, the subscribers owned a total of approximately 32 per cent of the issued and outstanding common shares of the company on a partially diluted basis.
The subscribers purchased units for investment purposes only and not with the purpose of influencing the control or direction of the company. The subscribers and/or their joint actors, if any, may, subject to market conditions, make additional investments in, or dispositions of, securities of the company in the future, including additional purchases of shares. The subscribers and/or their joint actors, if any, do not intend to acquire more than 20 per cent of any class of the outstanding voting securities of the company.
Ecstall units purchased by RAB Special Situations
2004-08-24 12:56 ET - News Release
EAM
Mr. Neil Warrender reports
RAB Special Situations L.P. has entered into a subscription agreement with Ecstall Mining Corp. pursuant to which it subscribed for a total of 2.7 million units of the company at a price of 10 cents per unit. Each unit consists of one common share of the company and one share purchase warrant. Each warrant entitles special situations to purchase one share for a period of two years from closing at a price of 20 cents per share.
The purchased securities represent approximately 17.73 per cent of the issued and outstanding shares on a partially diluted basis (assuming exercise of its warrants). Special Situations has ownership of and control over the securities purchased in the private placement.
Immediately after the private placement, Special Situations owned 2.7 million shares and 2.7 million warrants representing approximately 17.73 per cent of the issued and outstanding shares on a partially diluted basis.
Special Situations purchased units for investment purposes only and not with the purpose of influencing the control or direction of the company. Special Situations together with joint actors, if any, may, subject to market conditions, make additional investments in or dispositions of securities of the company in the future, including additional purchases of shares. Special Situations and its joint actors, if any, do not, however, intend to acquire 20 per cent of any class of the outstanding voting or equity securities of the company.
NP says Energem Resources Q2 profit takes a hit
2004-08-04 08:45 ET
The National Post reports in its Wednesday, Aug. 4, edition that Energem Resources swung to a loss in the latest quarter from a year earlier profit due to a change in the sales mix, lower margins and the focus on development activities. The Post's Page Two column reports that the mining company said its second quarter loss totalled $1.6-million (U.S.) or two U.S. cents a share versus a profit of $4.5-million (U.S.) or eight U.S. cents in the same period last year. Revenue decreased 17 per cent to $21.9-million (U.S.) from $26.3-million (U.S.) in the second quarter 2003. Energem said it remains on track with development of its projects and trading positions with a view to ramping up earnings from the latter part of 2004.
Adroit Resources 1,126,000-share private placement
2004-07-29 16:30 ET - Private Placement
The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced June 9, 2004.
No. of shares: 1,126,000
Price: 37.5 cents per share
Warrants: 1,126,000 exercisable at 50 cents for a one-year period and 60 cents in the second and third year
Placees: Three placees participated
Insiders: RAB Special Situations (William P.S. Richards) one million; and William P.S. Richards 100,000
Shareholder approval will be required prior to the exercise of a sufficient number of warrants held by RAB Special Situations and William P.S. Richards that will result in them jointly holding a control position in the company.
Stealth raises $500,000 with RAB Special Situations
2004-07-13 17:36 ET - News Release
Mr. Neil Warrender reports
RAB Special Situations LP has subscribed for a total of 1.25 million units of Stealth Ventures Ltd., at a price of 40 cents per unit. Each unit consists of one common share and one-half of a share purchase warrant in the capital of the company. Each warrant entitles Special Situations to subscribe for one additional share for a period of one year from the closing, at a price of 50 cents per share. The transaction took place off the market by way of private placement.
As part of the private placement, Special Situations acquired 1.25 million units (representing approximately 15.85 per cent of the issued and outstanding shares of the company on a partially diluted basis (assuming exercise of its warrants). Special Situations has ownership of and control over the securities purchased in the private placement.
Immediately after the private placement, Special Situations owned 1.25 million shares and 625,000 warrants representing approximately 15.85 per cent of the issued and outstanding shares of the company on a partially diluted basis.
Special Situations purchased units for investment purposes only and not with the purpose of influencing the control or direction of the company. Special Situations and/or its joint actors, if any, may, subject to market conditions, make additional investments in or dispositions of securities of the company in the future, including additional purchases of shares. Special Situations and/or its joint actors, if any, do not, however, intend to cquire 20 per cent of any class of the outstanding voting securities of the company.
TNR Gold shares purchased by RAB Special Situations
2004-08-03 05:19 ET - News Release
Mr. Neil Warrender of RAB Special Situations reports
RAB SPECIAL SITUATIONS L.P./TNR GOLD CORP.-ANNOUNCEMENT
TNR Gold Corp. has entered into a subscription agreement with RAB Special Situations LP pursuant to which RAB Special Situations subscribed for a total of four million units of TNR Gold at a price of 13 cents per unit. Each unit consists of one common share of the company and one share purchase warrant (each whole warrant being a warrant). Each warrant entitles Special Situations to purchase one share for a period of two years from closing at a price of 16 cents per share.
The purchased securities represent approximately 33.3 per cent of the issued and outstanding shares on a partially diluted basis (assuming exercise of its warrants) (partially diluted basis). Special Situations has ownership of and control over the securities purchased in the private placement.
Immediately after the private placement, Special Situations owned four million shares and four million warrants, representing approximately 33.3 per cent of the issued and outstanding shares on a partially diluted basis.
Special Situations purchased units for investment purposes only and not with the purpose of influencing the control or direction of the company. Special Situations together with joint actors, if any, may, subject to market conditions, make additional investments in or dispositions of securities of the company in the future, including additional purchases of shares. Special Situations and its joint actors, if any, do not, however, intend to acquire 20 per cent of any class of the outstanding voting or equity securities of the company.
Alexis Minerals issues $1-million in units to RAB
2004-06-29 17:37 ET - News Release
Mr. Neil Warrender reports
RAB SPECIAL SITUATIONS L.P./ALEXIS MINERALS CORPORATION-ANNOUNCEMENT
RAB Special Situations L.P. has entered into a subscription agreement with Alexis Minerals Corp. where it subscribed for a total of 2,222,300 units of the company at a price of 45 cents per unit. Each unit consists of one common share of the company and one-half of one share purchase warrant. Each warrant entitles special situations to purchase one share for a period of 24 months after closing at a price of 65 cents per share. The transaction took place off the market by way of private placement.
Special Situations has ownership of and control over the securities purchased in the private placement. The purchased securities represent approximately 8.52 per cent of the issued and outstanding shares on a partially diluted basis (assuming exercise of its warrants).
Immediately after the private placement, Special Situations owned 4,322,300 shares and 1,761,150 warrants representing approximately 15.29 per cent of the issued and outstanding shares on a partially diluted basis.
Special Situations purchased units for investment purposes only and not with the purpose of influencing the control or direction of the company. Special Situations together with joint actors, if any, may, subject to market conditions, make additional investments in or dispositions of securities of the company in the future, including additional purchases of shares. Special Situations and its joint actors, if any, do not, however, intend to acquire 20 per cent of any class of the outstanding voting or equity securities of the company.
Jumbo Development shares acquired by RAB
2004-06-29 17:32 ET - News Release
Mr. Neil Warrender of RAB Special Situations reports
RAB SPECIAL SITUATIONS L.P./JUMBO DEVELOPMENT CORPORATION-ANNOUNCEMENT
RAB Special Situations L.P. and RAB Energy Fund Ltd. entered into a separate subscription agreement with Jumbo Development Corp. where the subscribers subscribed for a total of nine million common shares of the company, at a price of 12.5 cents per share.
The subscribers may be considered joint actors. As part of the private placement, Special Situations acquired six million shares (representing approximately 10.68 per cent of the issued and outstanding shares on a non-diluted basis) and the fund acquired three million shares (representing approximately 5.34 per cent of the issued and outstanding shares on a non-diluted basis). Each of the subscribers has ownership of and control over the securities purchased in the private placement.
Immediately after the private placement, Special Situations owned six million shares and the fund owned three million shares, collectively representing approximately 16.02 per cent of the issued and outstanding shares on a non-diluted basis.
The subscribers purchased shares for investment purposes only and not with the purpose of influencing the control or direction of the company. Special Situations and the fund, together with joint actors, if any, may, subject to market conditions, make additional investments in or dispositions of securities of the company in the future, including additional purchases of shares. Special Situations and the fund, together with joint actors, if any, do not, however, intend to acquire 20 per cent of any class of the outstanding voting or equity securities of the company.
Adroit Resources arranges $450,000 equity offering
2004-06-09 12:12 ET - News Release
Mr. Graeme Rowland reports
PRIVATE PLACEMENT
Adroit Resources Inc., subject to TSX Venture Exchange acceptance, has arranged a non-brokered private placement totalling up to $450,000 for 1.2 million units consisting of one share and one transferable warrant, each warrant to entitle the holder to purchase one new common share of the company at a price of 50 cents until May 31, 2005, and 60 cents until May 31, 2007. The major investor in this private placement is the RAB Special Situations Fund which is subscribing for one million units. A portion of the private placement will be eligible for flow-through tax benefits. The proceeds from this financing will be used for general working capital, current obligations plus the development and possible acquisition of mineral properties. A finder's fee of up to 10 per cent may be paid to arm's-length parties with respect to the private placement.
In making the announcement, Graeme Rowland, chairman and president of Adroit Resources, said, "I welcome RAB's much-appreciated support and I am delighted we have further funds for continuing the development of the company's business."
I see RAB is making about a gazillion investments in the junior sector right now. I guess they really like this correction.
I've noticed quite a few RAB newsreleases but haven't had time to post.
RAB SPECIAL SITUATIONS L.P./Great Western Minerals Group
Ltd.-Announcement
LONDON, UNITED KINGDOM--(CCNMatthews - Jul 2, 2004) - RAB Special
Situations L.P. ("RAB") announces that RAB entered into a
Subscription Agreement with Great Western Minerals Group Ltd. GWG
(the "Company") where RAB subscribed for a total of 5,000,000
units of the Company (the "Units"), at a price of Cdn.$0.20 per
Unit (the "Private Placement"). Each Unit consists of one common
share of the Company (a "Share") and one share purchase warrant
(each whole warrant being a "Warrant"). Each Warrant entitles RAB
to purchase one Share for a period of two years after the closing
at a price of Cdn.$0.25 per Share. The transaction took place off
the market by way of private placement.
As part of the Private Placement, RAB acquired 5,000,000 Units
(representing approximately 26.45% of the issued and outstanding
Shares on a partially diluted basis (assuming exercise of its
Warrants) ("Partially Diluted Basis")). RAB has ownership of and
control over the securities purchased in the Private Placement.
Immediately after the Private Placement, RAB owned 5,000,000
Shares and 5,000,000 Warrants, collectively representing
approximately 26.45% of the issued and outstanding Shares on a
Partially Diluted Basis.
RAB purchased Units for investment purposes only and not with the
purpose of influencing the control or direction of the Company.
RAB may, subject to market conditions, make additional
investments in or dispositions of securities of the Company in
the future, including additional purchases of Shares. RAB does
not, however, intend to acquire 20% of any class of the
outstanding voting or equity securities of the Company.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
RAB Special Situations L.P.
Mr. Neil Warrender
(44) 20-7389-7000
(44) 20-7389-7054 (FAX)
nw@rabcap.com
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
RAB Special Situations L.P./Trade Winds Ventures
Inc.-Announcement
LONDON, UNITED KINGDOM--(CCNMatthews - Jul 2, 2004) - RAB Special
Situations L.P. ("Special Situations") announces that it entered
into a Subscription Agreement with Trade Winds Ventures Inc. TWD (the
"Company") where it subscribed for a total of 1,000,000 units of
the Company (the "Units"), at a price of Cdn.$0.75 per Unit (the
"Private Placement"). Each Unit consists of one common share of
the Company (a "Share") and one share purchase warrant (each
whole warrant being a "Warrant"). Each Warrant entitles Special
Situations to purchase one Share for a period of two years at a
price of Cdn.$0.90 per Share during the first year and at a price
of Cdn.$1.15 per Share during the second year. The transaction
took place off the market by way of private placement.
The purchased securities represent approximately 8.32% of the
issued and outstanding Shares on a partially diluted basis
(assuming exercise of its Warrants) ("Partially Diluted Basis").
Special Situations has ownership of and control over the
securities purchased in the Private Placement.
Immediately after the Private Placement, Special Situations owned
2,000,000 Shares and 2,000,000 Warrants representing
approximately 15.98% of the issued and outstanding Shares on a
Partially Diluted Basis.
Special Situations purchased Units for investment purposes only
and not with the purpose of influencing the control or direction
of the Company. Special Situations together with joint actors, if
any, may, subject to market conditions, make additional
investments in or dispositions of securities of the Company in
the future, including additional purchases of Shares. Special
Situations and its with joint actors, if any, do not, however,
intend to acquire 20% of any class of the outstanding voting or
equity securities of the Company.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
RAB Special Situations L.P.
Mr. Neil Warrender
(44) 20-7389-7000
nw@rabcap.com
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
RAB SPECIAL SITUATIONS L.P. Announcement
LONDON, UNITED KINGDOM--(CCNMatthews - Jun 14, 2004) - RAB
Special Situations LP ("Special Situations") entered into an
Option Agreement with Seed Capital Inc. pursuant to which Special
Situations shall have an option (the "Option") to purchase, from
time to time, up to 500,000 common shares (the "Optioned Shares")
of Dia Bras Exploration Inc. (the "Company"), at a price of
Cdn.$0.80 per Optioned Share. The Option shall expire on April
30, 2005.
The Optioned Shares represent approximately 1.37% of the issued
and outstanding common shares of the Company ("Shares") on a
partially diluted basis (assuming full exercise of the Option)
("Partially Diluted Basis").
Immediately after the transaction, Special Situations owned
2,586,666 Shares and 1,041,666 share purchase warrants (the
"Warrants") of the Company which, together with the Option,
represented approximately 11.02% of the issued and outstanding
common shares of the Company on a Partially Diluted Basis.
Special Situations entered into the Option for investment
purposes only and not with the purpose of influencing the control
or direction of the Company. Special Situations and/or its joint
actors, if any, may, subject to market conditions, make
additional investments in or dispositions of securities of the
Company in the future, including additional purchases of Shares.
Special Situations and/or its joint actors, if any, do not,
however, intend to acquire 20% of any class of the outstanding
voting securities of the Company.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
RAB Special Situations LP
Mr. Neil Warrender
(44) 20-7389-7000
nw@rabcap.com
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Hathor Exploration 2,812,500-share private placement
2004-05-27 16:32 ET - Private Placement
The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced March 5 and May 18, 2004.
No. of shares: 2,812,500
Price: 40 cents per share
Warrants: 2,812,500 share purchase warrants for 2,812,500 shares
Warrant price: 50 cents for a two-year period
Placee: One placee participated
Insider: Rab Special Situations LP (W.P.S. Richards) 2,812,500
Pursuant to TSX Venture Exchange Corporate Finance Policy 4.1, Section 1.11 (d), the company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The company must also issue a news release if the private placement does not close promptly.
Greystar raises $1.9-million; extends loan payment date
2004-06-04 09:04 ET - News Release
Mr. Dave Rovig reports
GREYSTAR CLOSES $1.9 MILLION FINANCING AND EXTENSION OF $2.0 MILLION LOAN
Greystar Resources Ltd. has closed its previously announced $1.9-million private placement to funds managed by RAB Capital, a London Stock Exchange-listed pan-European hedge fund manager. Under the financing, one million units of the company were issued at a price of $1.90 per unit. Each unit consists of one common share and one-half share purchase warrant. Each whole warrant will entitle the holder to purchase an additional common share for a period of 24 months at a price of $2.50 per share.
Ocean Equities Ltd., of London, England, was paid a cash fee equal to 5 per cent of the proceeds in connection with the placement and was issued brokers warrants to purchase 50,000 common shares on the same terms as the unit warrants.
In addition, the company's working capital position has improved by $2-million with Belle Isle Investments Ltd.'s agreement to extend the date for payment of its $2-million loan and accrued interest from June 15, 2004, to June 15, 2006, subject to issuance of a convertible promissory note giving Belle Isle the right to convert all or part of the loan into the company's common shares at a price of $2.50 per share and a reduction in the rate of simple interest payable on the loan from 0.5 per cent per month to 3 per cent per year, effective June 15, 2004. The transaction is subject to acceptance by the Toronto Stock Exchange.
RAB Special Situations L.P./Orphan Boy Resources
Inc-Announcement
ORS
LONDON, UNITED KINGDOM--(CCNMatthews - May 28, 2004) - RAB
Special Situations L.P. ("Special Situations") announces that it
has subscribed for a total of 2,000,000 units (the "Units") of
Orphan Boy Resources Inc. (the "Company"), at a price of
Cdn.$1.00 per Unit (the "Private Placement"). Each Unit consists
of one (1) common share (a "Share") and one (1) Share purchase
warrant (a "Warrant") of the Company. Each Warrant entitles
Special Situations to purchase one (1) additional Share (a
"Warrant Share") for a period of two (2) years following the
closing at a price of Cdn.$1.25 per Warrant Share.
As part of the Private Placement, Special Situations acquired
2,000,000 Units (representing approximately 28% of the issued and
outstanding common shares of the Company on a partially diluted
basis (assuming exercise of its Warrants) ("Partially Diluted
Basis")). Special Situations has ownership of and control over
the securities purchased in the Private Placement.
Immediately after the Private Placement, Special Situations owned
2,000,000 Shares and 2,000,000 Warrants representing
approximately 28% of the issued and outstanding common shares of
the Company on a Partially Diluted Basis.
Special Situations purchased Units for investment purposes only
and not with the purpose of influencing the control or direction
of the Company. Special Situations and/or its joint actors, if
any, may, subject to market conditions, make additional
investments in or dispositions of securities of the Company in
the future, including additional purchases of Shares. Special
Situations and/or its joint actors, if any, do not, however,
intend to acquire 20% of any class of the outstanding voting
securities of the Company.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
RAB Special Situations L.P.
Mr. Neil Warrender
(44) 20-7389-7000
nw@rabcap.com
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Tournigan Gold 10.29-million-share private placement
2004-05-18 16:18 ET - Private Placement
The TSX Venture Exchange has accepted for filing documentation with respect to a brokered and non-brokered private placement announced April 12, 2004, and April 27, 2004:
Number of shares: 10,276,107 (of which 5,561,667 are brokered)
Purchase price: 45 cents per share
Warrants: 5,138,054 share purchase warrants to purchase 5,138,054 shares
Warrant exercise price: 65 cents for an 18-month period
Number of placees: 13
Insider/pro group participation: RAB Special Situations, 2,222,222
Agents: Pacific International Securities and Canaccord Capital
Agents' fees/commission: $188,595.16 and 25,833 commission units and 556,166 agent's options
Finder's fee: $89,720.19 and 649,221 units payable to Brian Felske
Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), Tournigan Gold must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The company must also issue a news release if the private placement does not close promptly. Note that in certain circumstances the exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.
Jilbey arranges 2.2-million-unit private placement
2004-05-13 11:58 ET - News Release
JLB
Mr. Neil Warrender of RAB reports
Each of RAB Special Situations LP and William Philip Seymour Richards have entered into a separate subscription agreement with Jilbey Gold Exploration where the subscribers subscribed for a total of 2.2 million units of the company, at a price of 45 cents per unit. Each unit consists of one common share of the company and one-half of one share purchase warrant. Each warrant entitles the subscribers to purchase one share for a period of 18 months after closing at a price of 60 cents per share. The transactions took place off the market by way of private placement.
The subscribers may be considered joint actors. As part of the private placement, Special Situations acquired two million units (representing approximately 13.8 per cent of the issued and outstanding shares on a partially diluted basis assuming exercise of its warrants) and Mr. Richards acquired 200,000 units (representing approximately 1.44 per cent of the issued and outstanding shares on a partially diluted basis). Each of the subscribers has ownership of and control over the securities purchased in the private placement.
Immediately after the private placement, Special Situations will own two million shares and one million warrants and Mr. Richards will own 200,000 shares and 100,000 warrants, collectively representing approximately 15.11 per cent of the issued and outstanding shares on a partially diluted basis.
The subscribers purchased units for investment purposes only and not with the purpose of influencing the control or direction of the company. Special Situations and Mr. Richards together with joint actors, if any, may, subject to market conditions, make additional investments in or dispositions of securities of the company in the future, including additional purchases of shares. Special Situations and Mr. Richards together with joint actors, if any, do not, however, intend to acquire 20 per cent of any class of the outstanding voting or equity securities of the company.
The AIM Listing Of RAB Capital Will Interest The Junior Mining Sector.
It will be interesting to see how the shares in RAB Capital open on the AIM market in London on Tuesday as it is virtually the only fund management group not dedicated to resources which realised early on that there was a mining boom in the making. This has contributed in no small way to the performance several of its funds have achieved over the past couple of years. It is raising £8 million through what is termed a restricted invitation for subscription at 25 p per share and this has been at least five times oversubscribed, though the directors are constrained from giving exact figures. Unfortunately private investors are not invited to subscribe, presumably for the same reason that they may not invest directly in the funds. RAB Capital focuses mainly on managing hedge funds and the nanny state deems these as being too volatile for thee and me.
The group was set up in January 1999 by Michael Alen-Buckley and Philip Richards who had been working for Smith New Court previously. It started to trade in June of that year and launched its first fund, RAB Europe Fund, in November 1999. It now has US$1.5 billion under management in twelve funds compared with US$1.1 billion at the end of January which gives some idea of the rate of growth. Following this issue, however it will be capitalised at £85.6 million which is close to 10 per cent of funds under management. This is quite a heady rating, but not many of its peers have put up a performance to equal it of late, and the opening price will confirm the view that it offers value.
RAB specialises in managing hedge funds which represent an alternative to traditional debt and equity investments as they can make use of hedging strategies such as short selling, options and futures to take out market risk. There is an honesty about the operation as its funds are measured on an absolute return on invested capital, rather than the benchmarks used by its competitors which may be an index or a basket of similar funds. As indices and baskets can fall in a bear market credit is given for falling less than the norm, but this is no comfort to investors who hope to see positive performances year on year.
For some time now Philip Richards has been active on the mining scene, though only a comparatively small portion of the funds under management is in resource stocks. Pride of place is given to the Special Situations fund which has risen 15 fold in the last one and a half years. It is currently valued at US$250 million and around 80 per cent is in resource stocks. RAB Europe is valued at around US$450 million and 20 per cent of this is in mining, while RAB UK is worth around US$150 million and just 10 per cent is in resource stocks. A point worth making here to those doomsters who see strength in the junior mining sector only lasting for another year or two is that Richards is not in love with the sector. As the name suggests Special Situations seeks just that - special situations - and when the managers see another sector on the trot their funds will move in that direction, and that applies to the other two funds as well.. The other difference between Richards’ investment policy and those of many other fund managers is that he is prepared to take quite big positions in very small stocks.
The fact is that RAB’s funds are managed proactively and Philip Richards, who is CEO and Chief Investment Officer has the mind set of an old fashioned jobber. This means that he is always prepared to take a profit or cut a loss and is able to job his way out of any difficulties. What is really needed is an active market and preferred stocks usually have plenty of news flow ahead of them to get things moving. Early on in the mining boom back in 2002 Richards took significant positions in both Oxus Gold and Celtic Resources which were two of the best performers in the AIM market in 2003. RAB may still be a shareholder, but considerable profits have been taken in the meantime. Last year also he took a hefty position in one of Phil Edmonds companies , Southern African Resources. This would have been looked on as a ‘lobster pot stock’ by many, but Richards made a six fold profit.
Two other successes on the IPO front last year were Caledon Resources which was a thirteen bagger at one time and Gold Mines Of Algeria which trebled between April and the end of the summer. At that time Richards took a major slice of placings by Griffin Mining and African Eagle and was taking a profit on the latter in recent weeks after the announcement of a major discovery in Zambia. He rationalises his investment policy by saying that he buys a stock when it is out of favour and sells when a queue has formed to buy. Just for the record there are three stocks which he will admit to favouring at the moment. One is Asia Energy which is due to list soon and owns the Phulbari coal and power development project in Bangladesh. Richards reckons the coal in the ground is valued at around one-tenth of that of some of its peers. He also rates Marakand Minerals, the Oxus spin-off, for its involvement in silver and the same applies to Canadian listed Scorpio Mining. Last, but not least, RAB has a significant shareholding in Tien Shan Gold which is the other story running on Minesite.
March 07, 2004
Hedge fund leads rush to float by Louise Armitstead
RAB Capital is the first to plan a listing in London. Others are bound to follow.
IN the spring of 1999 Philip Richards and Michael Alen-Buckley arrived almost empty-handed at their new office — a small room in 1 Adam Street, just off the Strand in central London.
The day — April Fools’ Day — seemed apt at the time. Richards and Alen-Buckley, both highly regarded bankers at Merrill Lynch, were giving up stellar careers to start their own hedge fund, RAB Capital. The only money they had was their own, and their staff consisted of one manager, a compliance officer and a secretary.
Five years on, the little room in 1 Adam Street, still RAB Capital’s main trading floor, albeit straining under a vastly expanded workforce, is again the engine room of an ambitious and pioneering venture.
Last week RAB Capital became the first stand-alone hedge-fund company to announce its intention to float in London.
Richards, 46, and Alen-Buckley, 43, will be at the helm of a company with a market value that could be as high as £100m. Their stakes could be worth £30m each. Advised by KBC Peel Hunt, the firm will release a prospectus tomorrow revealing how much money it intends to raise.
In the past five years, Richards, a former army officer, and Alen-Buckley, who is the son-in-law of the hotelier Lord Forte, have increased their funds under management from £4m to an estimated £1.1 billion. They have 40 staff (16 of them managers), 7 hedge funds and a track record that is the envy of the City.
RAB’s first fund, the European equities fund, which was launched in November 1999, has made returns of 84% despite the tumbling markets.
Floating will for the first time allow small investors to take part in the success of a hedge-fund boutique rather than investing in one fund.
But there is growing concern that they will also be exposed to risks that at the moment are restricted to professional investors.
Watching in the wings are hundreds of other hedge-fund managers, salivating at the thought of following RAB to market and realising the value of their businesses. Investment bankers and advisers are also rubbing their hands at the prospect of a spate of similar deals.
Two funds earmarked for flotation are Thames River Capital and GLG Partners, one of the biggest hedge funds in London, with about $8 billion under management. Experts say plenty of others are looking to float as a way of cashing in.
Richards and Alen-Buckley dismiss the suggestion that this is their motive for floating RAB. “Right from the start we wanted to create a long-term business and we’re here to stay,” said Richards. “Floating is an indication of our permanence. Neither one of us will be taking cash out. We are also doing this for our staff. We have given them options over the years and this will be their chance to realise some cash. Staff loyalty is important to us and to our clients, who like the stability this offers.”
The cash raised from the float will also be used to launch additional hedge funds and bankroll the company’s rapid expansion.
Managers have already been hired for several new funds that will specialise in energy and in Japan. Small investors are likely to be attracted through a joint venture with Saga, which provides services for the over-fifties and has 7m customers.
Richards and Alen-Buckley built impressive reputations in the City working together in the late 1980s at Smith New Court, where they helped to build the stockbroker from a market value of £10m to one of £500m by the time it was sold to Merrill Lynch in 1995.
Both men had been watching the growing hedge-fund industry with interest. Alen-Buckley had numerous contacts, including leading figures such as George Soros. They spent four years at Merrill before quitting to set up RAB.
Alen-Buckley, who is taking the title of executive chairman, is described as the “public face” of the business. Richards, who goes from chief investment officer to chief executive, is more involved in strategy.
Richards runs the Special Situations fund, which is just over a year old but has already generated a return of 1,274%.
Since hedge funds are known for being opaque and secretive, observers are concerned that RAB will struggle to live with the scrutiny that comes with being a public company.
Richards said the company planned to float on the Alternative Investment Market (AIM) rather than the main market so that lengthy meetings with institutions could be avoided. “We want to spend our time managing the money, not talking about it,” he said.
“We have a simple philosophy. Our goal is to produce consistent returns in all market conditions. We think that if you work on managing the risks and reducing the downside, the upside tends to look after itself. The float is exciting but it will still be business as usual.”
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