CapitalAsia backs Canadian copper miner
CapitalAsia has agreed to invest $1.2 million in Toronto-listed copper miner Cadillac Ventures via the Sino-Canada Natural Resources Fund.
The fund has subscribed to 20 million units in Cadillac - comprising one common share and one common share purchase warrant - at $0.06 apiece. It will own 12.1% of the company, rising to 21.7% assuming all the warrants are exercised.
Cadillac will use the proceeds from the private placement for its Canadian exploration projects and for general working capital purposes. The company owns the Thierry Property, a copper mine in Ontario, and holds a 51% interest in the Burnt Hill Project, a tungsten and tin mine in New Brunswick. Cadillac also has assets in Spain, Peru and Quebec.
The Sino-Canada fund is run out of Hong Kong on behalf of private and institutional investors from Greater China. It invests in Canadian public and private companies in the mining, oil and gas and forestry spaces.
Previous deals include a $3 million financing package for Heatherdale Resources, a Vancouver-based mining company.
More on Industrials
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.