Belo Sun Mining Corp. (
TSX: T.BSX,
Stock Forum) jumped 18.2% to 26 cents Friday on news that gold mining giant
Agnico-Eagle Mines Ltd. (TSX: T.AEM, Stock Forum) is making a $15 million strategic investment in Belo Sun via a non-brokered private placement of common shares.
As a result, Agnico-Eagle will own 17.4% of Belo Sun’s outstanding shares on a non-diluted basis,
Belo Sun said in a press release.
Under the terms of the share purchase agreement, Agnico-Eagle will purchase 62.5 million common shares of Belo Sun at 24 cents a share.
Colt Resources Inc. (
TSX: V.GTP,
Stock Forum) fell 2.2% before recovering to close unchanged at 23 cents after the company announced a shares for debt agreement. The company said it has made an offer for conversion in shares of its senior secured debt in the aggregate amount of US$2.7 million to all of its existing senior secured note holders.
It has also struck a deal with one of the note holders, Richard Quesnel, who will receive 14.2 million units price3d at CA$0.17 per unit as payment for a US$2 million note and accrued interest of US$72,877.
The company said in a press release it elected to satisfy this outstanding debt with units to preserve its cash for operations.
| Select Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern) |
| Tethys Petroleum Limited (T.TPL, Stock Forum) |
100.00% |
| Connacher Oil and Gas Limited (T.CLC, Stock Forum) |
25.70% |
| Edgewater Wireless Systems Inc. (V.YFI, Stock Forum) |
23.21% |
| Webtech Wireless Inc. (T.WEW, Stock Forum) |
21.76% |
| Belo Sun Mining Corp. (V.BSX, Stock Forum) |
18.18% |
| Select Canadian Small/Micro-cap Decliners (as of 4:00 PM Eastern) |
| Midway Gold Corp. (V.MDW, Stock Forum) |
-31.25% |
| Theralase Technologies Inc. (V.TLT, Stock Forum) |
-13.10% |
| Banro Corporation (T.BAA, Stock Forum) |
-11.90% |
| DirectCash Payments Inc. (T.DCI, Stock Forum) |
-7.01% |
| Canacol Energy Ltd. (T.CNE, Stock Forum) |
-4.00% |