Dunav Resources (DNV-V)
www.dunavresources.com
119 million o/s
Dundee Precious Metals 47.3%
$17 million cash
Key people
David Fennel – Chairman
David Fennell received his law degree in 1979 from the University of Alberta and practiced in the areas of corporate and resource law until 1983, when he founded Golden Star Resources ('Golden Star'). During his term as president and CEO, Golden Star became a TSE 300 company and one of the largest and most successful exploration companies. In 1998, Mr. Fennell left Golden Star to become chairman and CEO of Cambiex Explorations Ltd, which became Hope Bay Gold Corporation ("Hope Bay'). He held this position until the merger of Hope Bay and Miramar Mining Corporation (' Miramar') where he continued as executive vice-chairman and director for the combined entity until its takeover, in January 2008, by Newmont Mining Corporation. He was chairman of Ariane Gold Corp. ('Ariane') from August 2002 until its acquisition by Cambior Inc. in November 2003, and was a director of Palmarejo Silver and Gold Corporation ('Palmarejo') until the merger with Coeur d'Alene Mines Inc. He was chairman of Maximus Ventures Ltd. until the business combination with NFX Gold Inc. to form Bear Lake Gold Ltd. ('Bear Lake') where he continues as executive chairman. Mr. Fennell is also currently an officer or director or both of a number of publicly-traded resource companies.
James Crombie – President, CEO and Director
James Crombie graduated from the Royal School of Mines, London, in 1980 with a B.Sc. (Hons) in mining engineering, having been awarded an Anglo American scholarship. Mr. Crombie held various positions with DeBeers Consolidated Mines and the Anglo American Corporation in South Africa and Angola between 1980 and 1986. He spent the next 13 years as a mining analyst and investment banker with Shepards, Merrill Lynch, James Capel & Co. and finally with Yorkton Securities. Mr. Crombie was vice president, corporate development of Hope Bay from February 1999 through May 2002 and president and CEO of Ariane Gold Corp. from August 2002 to November 2003. Mr. Crombie was president, CEO and a director of Palmarejo until the merger with Coeur d'Alene Mines Corporation in December 2007. Mr. Crombie is also currently an officer or director or both of a number of publicly-traded resource companies.
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Dunav closes $16.82-million private placement - over subscribe
March 6, 2013 - News Release
Dunav Resources Ltd. has closed its previously announced brokered private placement financing for total gross proceeds of $16,822,950.
A total of 56,076,500 units, including 6,076,500 units from the exercise of the overallotment option, were sold at 30 cents per unit. Each unit comprises one common share of the company and one common share purchase warrant. Each warrant entitles the holder to acquire one common share of Dunav at a price of 50 cents per share until March 6, 2016.
The offering syndicate was led by Dundee Securities Ltd., and included Paradigm Capital Inc., Clarus Securities Inc. and Primary Capital Inc. As consideration for their services related to the offering, the agents received a cash commission equal to 6.0 per cent of the gross proceeds raised under the offering (inclusive of the option). The agents also received 6.0 per cent compensation warrants, exercisable into one unit at a price of 30 cents per unit until March 6, 2015. On units sold to certain existing shareholders and to persons on the president's list, the agents received a reduced commission of 3.0 per cent in cash and 3.0 per cent in compensation warrants.
Company presentation
dunavresources.com |
