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Junior financing roundup: Geologix, Canasil, Alicanto

Bnamericas Published: Tuesday, June 21, 2016
Junior financing roundup: Geologix, Canasil, Alicanto

Vancouver's Geologix Explorations plans to carry out a non-brokered private placement of units for gross proceeds of up to Cdn$1.11mn (US$862,547), which will be used for the advancement of its Tepal project in Mexico and for general corporate purposes.

Geologix also announced in a statement the appointment of Kiran Patankar as president and CEO, succeeding Dunham Craig, who was appointed chairman.

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Vancouver-based Canasil Resources has increased a non-brokered private placement of units to Cdn$2.56mn from Cdn$2.4mn after being oversubscribed, according to a company release.

The proceeds will be used for exploration programs at its projects in Mexico and British Columbia and for working capital. The placement is expected to close by June 29.

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Australia's Alicanto Minerals decided to raise gross proceeds of Aus$1.5mn (US$1.12mn) through a share placement, which will be used for new project generation and for working capital purposes, according to a securities filing.

Alicanto's flagship gold project is Arakaka in Guayana.

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