News Releases From NEX Companies For October 16th

There was one news release from a NEX company that was picked up by Marketwire on Tuesday. Jalna Minerals Ltd. [NEX: JMA.H] has announced a non-brokered private placement for up to $1,000,000 in gross proceeds, to be raised through selling a maximum of 2 million common shares at 25 cents/share and 1,666,650 flow-though shares at a price of 30 cents/share. This planned financing, which will have a 7.5% finder's fee deducted from its gross proceeds, is subject to TSX Venture regulatory approval. JMA.H is currently halted: it last traded on October 3rd, on which it closed at 30 cents/share.

One bulletin from a NEX company was at the bottom of Tuesday's TSX Venture Daily Bulletins, from BHR Buffalo Head Resources Ltd. [NEX: BHR.H]. It details a brokered private placement, announced Sept. 10th, whose documentation has been accepted for filing by the TSX Venture Exchange. 7,500,000 shares will be sold at 9 cents/share with 28 placees, for total gross proceeds of $675,000. Five of the placement's subscribers are insiders, and four are pro groups. The insiders signed up for 2,276,000 of the shares; the pro groups signed up for 475,000 of them. The associated agent's fee is $2,835 cash, payable to Union Securities Ltd. Canjex Publishing has a webbed copy of the bulletin. BHR.H last closed on Monday, at 18 cents/share.

One news release from a NEX company was sent out exclusively through Canjex on Tuesday. DVD Investments Limited [NEX: DVD.H] is issuing an update about the planned reverse takeover of/by Mooncor Energy Ltd, and has announced that it's changing its name to Mooncor Oil and Gas Corp. The bulk of the news release offers details about the private placement just completed by Mooncor Oil and Gas, including dealmakers' compensation. The placement is in the amount of $4,057,801 in gross proceeds, partly raised through selling 3,748,000 non-flow-through units, at a deemed price of 50 cents/unit, and 306,335 flow-through units at a deemed price of 60 cents/unit. Each unit contains one common share of the respective kind, and half a purchase warrant with strike price of 83 cents/share and life of eighteen months. $2 million was also raised through a convertible subordinated balloon debenture bearing interest at 10% per year, payable upon conversion or maturity. The financing has changed a little since the previous announcement of it: originally, flow-through units were not supposed to be part of it. Shareholder approval has yet to be secured. DVD Investments, now Mooncor Oil and Gas, is still halted; it last traded at 60 cents/share on November 3rd, 2006.


To read about the highlighted NEX stocks for Tuesday, you can go here.