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Yahoo
7 hours ago
- Business
- Yahoo
Denison secures $345m in convertible notes offering to support uranium project
Denison Mines has completed its offering of convertible senior unsecured notes, raising an aggregate principal amount of $345m. This includes an upsized offering of $300m and the full exercise of a $45m option granted to initial purchasers. Denison announced the pricing of the upsized notes on 14 August. Net proceeds amounted to around $333m following the deduction of commissions and other expenses. Denison plans to allocate the net proceeds from the offering to enable the evaluation and development of its uranium projects, including the Wheeler River Uranium Project, as well as for general corporate requirements. Cantor Fitzgerald and Scotia Capital were the active bookrunners for the transaction. The notes carry a cash interest coupon of 4.25% per annum, with semi-annual payments starting on 15 March 2026. The initial conversion rate for the notes is set at 342.9355 common shares of Denison per $1,000 principal amount, which equates to an initial conversion price of around $2.92 per share. This represents a roughly 35% premium over the share's closing price as of 12 August 2025. Denison has enhanced the potential conversion value of the notes to up to $4.32 per share, reflecting a premium of 100%, by implementing a capped call overlay option strategy. This involved purchasing cash-settled call options at a cost of approximately $35.36m. Denison president and CEO David Cates said: 'Denison is humbled by the overwhelming support we received from the convertible note investment community for this offering of a 'US-Style' convertible note with a cash-settled capped call overlay – a novel transaction for a Canadian-domiciled and TSX [Toronto Stock Exchange]-listed company. Any conversions of the Notes, prior to the maturity date of September 15, 2031, may be settled in cash, Denison common shares, or a combination of both, at Denison's election. 'With an annual coupon rate of 4.25%, the Notes are estimated to save Denison over $100m in interest payments over the life of the instrument when compared to the range of expected interest payments associated with traditional project debt financing alternatives.' Holders may convert the notes into shares, cash, or a combination thereof, at Denison's discretion. The company also reserves the right to redeem the notes under certain conditions and is obligated to repurchase them upon specific events. Conversion by holders is restricted to certain circumstances before 15 June 2031 but is open after this date. The notes are due to mature on 15 September 2031, with the principal to be repaid in cash if not converted, repurchased, or redeemed beforehand. "Denison secures $345m in convertible notes offering to support uranium project" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
28-07-2025
- Business
- Yahoo
Canadian Pacific Railway (CP) Discloses C$1.4 Billion Debt Offering
Canadian Pacific Kansas City Limited (NYSE:CP) is one of the best high growth stocks. On June 11, Canadian Pacific announced a debt offering through its subsidiary, Canadian Pacific Railway Company, involving the issuance of C$1.4 billion in senior notes. The offering comprises C$500 million in 4.00% notes due 2032, C$600 million in 4.40% notes due 2036, and C$300 million in 4.80% notes due 2055, all of which will be fully guaranteed by CP. The transaction was set to close on June 13, 2025, given that the customary closing conditions were met. Net proceeds from the offering will go toward the refinancing of Canadian Pacific Railway Company's existing debt obligations and utilized for general corporate purposes. ankush-minda-7KKQG0eB_TI-unsplash Scotia Capital, BMO Nesbitt Burns, CIBC World Markets, and RBC Capital Markets were leading the offering as joint bookrunners and agents. It is important to note that since the securities are not registered under US federal securities laws, their sale or distribution within the US is restricted unless an exemption is eligible or formal registration is completed. Canadian Pacific Kansas City Limited (NYSE:CP) operates a transcontinental freight railway across Canada, the United States, and Mexico. The company provides rail and intermodal transportation services to move bulk commodities, industrial products, and consumer merchandise. While we acknowledge the potential of CP as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure. None. Sign in to access your portfolio
National Post
15-07-2025
- Business
- National Post
Arizona Sonoran Announces Private Sale of Shares by Tembo Capital
Article content CASA GRANDE, Ariz. & TORONTO — Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) ('ASCU' or the 'Company') an emerging US-based copper developer and near-term producer, advises that, on July 11, 2025, Tembo Capital Elim Co-Investment LP ('Tembo') announced the sale of 17.5 million common shares of the Company (the 'Tembo Shares') to Scotia Capital Inc. ('Scotia') in a bought deal arrangement which, ASCU understands, closed on July 14, 2025 (the 'Tembo Sale'). The Company further understands that Scotia, in turn, sold the Tembo Shares to various institutions in a secondary market transaction, also completed on July 14, 2025. As a result of the Tembo Sale, Tembo Capital's aggregate common share ownership in ASCU was reduced from 18.8% to 9.0% and, as a result, the Investor Rights Agreement between the Company and Tembo concurrently terminated. On July 11, 2025, Tembo issued a corresponding press release on Canada Newswire ( and is expected, in due course, to file a corresponding early warning report under the Company's issuer profile on SEDAR+ ( The Company did not receive any proceeds from the Tembo Sale. Tembo's nominee to the ASCU Board of Directors, Mark Palmer, resigned as director of the Company effective July 15, 2025. Article content Tembo separately advised ASCU of its continuing support for the Company and its development of the Cactus Project. Article content , 'This sale is a win-win for ASCU and Tembo, as ASCU matures into a meaningful copper developer in the United States. Tembo's investment in ASCU has demonstrated a significant return for its investors from both this sale and the royalty monetization by sale to Royal Gold earlier this year. For ASCU shareholders, we see this successful trade by Tembo as improving trading liquidity in the Company's shares and, in turn, providing a point of entry for a new, broader group of what we understand to be institutional investors, to participate in the development of the Cactus Project.' Article content Mr. Ogilvie continued, 'Tembo has been an important partner to ASCU since our acquisition of the historic Sacaton mine, which we renamed to the Cactus Project in 2020. We are thankful for Tembo's financial support and technical expertise over the years, including the guidance provided on our Board of Directors through Tembo's nominee, Mark Palmer. We wish Mark and Tembo success, both as a continuing shareholder of ASCU and in their other endeavours. We look forward to Tembo's continued participation in our future successes, particularly as we remain on track to issue the pending Cactus pre-feasibility study within the next few months.' , 'Tembo Fund III has been heavily involved in the acquisition and funding of the Sacaton project since 2020 when ASCU was a private company. The Company is now in a very strong position with a clear path to development and a strong balance sheet. Tembo will remain a significant shareholder in the Company and we wish George and the team every success as they progress with the upcoming PFS on Cactus and advance this robust copper project in a Tier 1 jurisdiction towards production.' Article content As a result of the completion of the Tembo Sale, Tembo's Investor Rights Agreement with the Company concurrently terminated and its nominee on ASCU's Board of Directors, Mark Palmer, resigned as Director of the Company effective July 15, 2025. The Company's Board of Directors is assessing the resulting vacancy and may, in due course, undertake a process to identify and potentially appoint a replacement. Article content Neither the Toronto Stock Exchange nor the regulating authority has approved or disproved the information contained in this press release. Article content | ) Article content ASCU is a copper exploration and development company with a 100% interest in the brownfield Cactus Project. The Project, on privately held land, contains a large-scale porphyry copper resource and a 2024 PEA proposes a generational open pit copper mine with robust economic returns. Cactus is a lower risk copper developer benefitting from a state-led permitting process, in place infrastructure, highways and rail lines at its doorstep and onsite permitted water access. The Company objective is to develop Cactus and become a mid-tier copper producer with low operating costs, that could generate robust returns and provide a long-term sustainable and responsible operation for the community, investors and all stakeholders. The Company is led by an executive management team and Board which have a long-standing track record of successful project delivery in North America complemented by global capital markets expertise. Article content Cautionary Statements regarding Forward-Looking Statements and Other Matters Article content Forward-Looking Statements Article content All statements, other than statements of historical fact, contained or incorporated by reference in this press release constitute 'forward-looking statements' and ' 'forward-looking information' (collectively, 'forward-looking statements') within the meaning of applicable Canadian and United States securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as 'anticipated', 'become', 'believe', 'confidently', 'continuing', 'developer', 'emerging', 'forward', 'further', 'generational', 'long-term', 'look', 'matures', 'may', 'near-term', 'objective', 'ongoing', 'on track', 'PEA', 'potentially', 'pre-feasibility', 'preliminary', 'program', 'project', 'projected', 'proposes', 'providing', 'remaining', 'risk', 'study', 'subject to', and 'will', 'or variations of such words, and similar such words, expressions or statements that certain actions, events or results can, could, may, should, would, will (or not) be achieved, occur, provide, result or support in the future, or which, by their nature, refer to future events. In some cases, forward-looking information may be stated in the present tense, such as in respect of current matters that may be continuing, or that may have a future impact or effect. Forward-looking statements include those relating to the filing of an early warning report by Tembo (including timing thereof); improved liquidity in the Company's shares as a result of the Tembo Sale or otherwise; Tembo remaining as a shareholder of the Company including any continued participation in any future successes of the Company and/or the Cactus Project; the Company's activities, plans and objectives for the remainder of 2025 and 2026 (including the ongoing pre-feasibility study (or PFS) in respect of the Cactus Project and the timing thereof); the 2024 PEA and results thereof (including risk, economic returns, operating costs, production (including being a near-term producer), and proposal of a generational open pit copper mine); the Company's strategic and other objectives (including development of the Cactus Project, becoming a mid-tier copper producer with low operating costs, that could generate robust returns and provide a long-term sustainable and responsible operation for the community, investors and all stakeholders, and any other continuing or future successes). Although the Company believes that such statements are reasonable, there can be no assurance that those forward-looking statements will prove to be correct, and any forward-looking statements by the Company are not guarantees of future actions, results or performance. Forward-looking statements are based on assumptions, estimates, expectations and opinions, which are considered reasonable and represent best judgment based on available facts, as of the date such statements are made. If such assumptions, estimates, expectations and opinions prove to be incorrect, actual and future results may be materially different than expressed or implied in the forward-looking statements. The assumptions, estimates, expectations and opinions referenced, contained or incorporated by reference in this press release which may prove to be incorrect include those set forth or referenced in this press release, as well as those stated in the technical report for the Cactus Project filed on August 27, 2024 (the '2024 PEA Technical Report'), the Company's Annual Information Form dated March 27, 2025 (the 'AIF'), Management's Discussion and Analysis (together with the accompanying financial statements) disclosed for the year ended December 31, 2024 and quarter(s) already ended in 2025 (collectively, the '2024-25 Financial Disclosure') and the Company's other applicable public disclosure (collectively, 'Company Disclosure'), all available on the Company's website at and under its issuer profile at Forward-looking statements are inherently subject to known and unknown risks, uncertainties, contingencies and other factors which may cause the actual results, performance or achievements of ASCU to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks, uncertainties, contingencies and other factors include, among others, the 'Risk Factors' in the AIF, and the risks, uncertainties, contingencies and other factors identified in the 2024 PEA Technical Report and the 2024-25 Financial Disclosure. The foregoing list of risks, uncertainties, contingencies and other factors is not exhaustive; readers should consult the more complete discussion of the Company's business, financial condition and prospects that is provided in the AIF, the 2024-25 Financial Disclosure and other Company Disclosure. Although ASCU has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this press release (or as otherwise expressly specified) and ASCU disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements referenced or contained in this press release are expressly qualified by these Cautionary Statements as well as the Cautionary Statements in the AIF, the 2024 PEA Technical Report and the 2024-25 Financial Disclosure. and under its issuer profile at Forward-looking statements are inherently subject to known and unknown risks, uncertainties, contingencies and other factors which may cause the actual results, performance or achievements of ASCU to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks, uncertainties, contingencies and other factors include, among others, the 'Risk Factors' in the AIF, and the risks, uncertainties, contingencies and other factors identified in the 2024 PEA Technical Report and the 2024-25 Financial Disclosure. The foregoing list of risks, uncertainties, contingencies and other factors is not exhaustive; readers should consult the more complete discussion of the Company's business, financial condition and prospects that is provided in the AIF, the 2024-25 Financial Disclosure and other Company Disclosure. Although ASCU has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this press release (or as otherwise expressly specified) and ASCU disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements referenced or contained in this press release are expressly qualified by these Cautionary Statements as well as the Cautionary Statements in the AIF, the 2024 PEA Technical Report and the 2024-25 Financial Disclosure. Article content The Preliminary Economic Assessment (or '2024 PEA') referenced in this press release and summarized in the 2024 PEA Technical Report is only a conceptual study of the potential viability of the Cactus Project and the economic and technical viability of the Cactus Project has not been demonstrated. The 2024 PEA is preliminary in nature and provides only an initial, high-level review of the Cactus Project's potential and design options; there is no certainty that the 2024 PEA will be realized. For further detail on the Cactus Project and the 2024 PEA, including applicable technical notes and cautionary statements, please refer to the Company's press release dated August 7, 2024 and the 2024 PEA Technical Report, both available on the Company's website at and under its issuer profile at Article content Article content Article content Article content Contacts Article content For more information Article content Article content
Yahoo
24-06-2025
- Business
- Yahoo
Hearing Notice - CIRO Hearing Panel finds Andrew John Lougheed Liable and Schedules a Sanctions Hearing
TORONTO, June 24, 2025 /CNW/ - Following a disciplinary hearing held on June 16, 2025 under the Investment Dealer and Partially Consolidated Rules, a hearing panel of the Canadian Investment Regulatory Organization (CIRO) found that Andrew John Lougheed: (a) facilitated off-book investments in a private placement without the knowledge or approval of the Dealer Member, and (b) engaged in an outside business activity in connection with facilitating off-book investments in a private placement. The hearing panel will consider the sanctions to be imposed as a result of its decision on liability in a hearing scheduled to proceed on: Hearing Date: July 17, 2025 at 10 am (Eastern Time) Location: Toronto, Ontario (by videoconference) The hearing is open to the public unless the hearing panel orders otherwise. Members of the public who would like to obtain further particulars should fill out this form. The hearing panel's reasons for the decision on liability will be made available at The Notice of Hearing and Statement of Allegations, which set out the allegations, are available at: Lougheed, Andrew – Notice of Hearing and Statement of Allegations The violations occurred while Andrew Lougheed was a Registered Representative with a Barrie branch of Scotia Capital Inc. Andrew Lougheed is not currently registered in the securities industry in any capacity. The Canadian Investment Regulatory Organization (CIRO) is the national self-regulatory organization that oversees all investment dealers, mutual fund dealers and trading activity on Canada's debt and equity marketplaces. CIRO is committed to the protection of investors, providing efficient and consistent regulation, and building Canadians' trust in financial regulation and the people managing their investments. For more information, visit All information about disciplinary proceedings relating to current and former member firms and individual registrants under the Investment Dealer and Partially Consolidated Rules (for investment dealers), the Mutual Fund Dealer Rules (for mutual fund dealers) and the Universal Market Integrity Rules (UMIR) is available on CIRO's website. Background information regarding the qualifications and disciplinary history, if any, of advisors currently employed by CIRO-regulated investment firms is available free of charge through the AdvisorReport service. Information on how to make dealer, advisor or marketplace-related complaints is available by calling 1-877-442-4322. CIRO investigates possible misconduct by its member firms and individual registrants. It can bring disciplinary proceedings which may result in sanctions including fines, suspensions, permanent bars, expulsion from membership, or termination of rights and privileges for individuals and firms. All other Inquiries: Complaints & Inquiries Secure form Toll-free (Canada/US) 1-877-442-4322 SOURCE Canadian Investment Regulatory Organization (CIRO) View original content to download multimedia: Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
23-06-2025
- Business
- Yahoo
Arizona Sonoran Copper finalises C$51.75m public offering
Arizona Sonoran Copper Company has successfully closed a public offering, raising C$51.75m ($37.6m) through the issuance of 25,875,000 common shares. This includes 3.3 million shares from the full exercise of the over-allotment option by underwriters. Priced at C$2 per share, the offering is a strategic move to secure financial stability for the company's upcoming projects. The offering was conducted under an underwriting agreement dated 6 June 2025, with a syndicate led by Scotia Capital acting as the sole bookrunner. The consortium also included Canaccord Genuity, Haywood Securities, Paradigm Capital, Raymond James, RBC Dominion Securities and Stifel Nicolaus Canada. The net proceeds from the offering are earmarked for several key initiatives. They will primarily enable the company to exercise buy-down rights on net smelter return (NSR) royalties for the Cactus Project, fund potential land acquisitions, complete essential technical and engineering studies, and provide working capital and general corporate resources. The company expects the newly acquired funds to sustain operations up to the final investment decision (FID) for the Cactus Project, which is expected in the fourth quarter of 2026 (Q4 2026). The common shares were made available through a short form prospectus in Canada (excluding Quebec) and were offered in the US and other jurisdictions on a private placement basis, in compliance with all applicable laws. Final approval of the offering from the Toronto Stock Exchange is pending. In January this year, Arizona Sonoran Copper announced a strategic private placement worth C$19.9m with Hudbay Minerals, which will see Hudbay increase its stake in Arizona Sonoran by subscribing for 11.8 million common shares at C$1.68 each. "Arizona Sonoran Copper finalises C$51.75m public offering" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error al recuperar los datos Inicia sesión para acceder a tu cartera de valores Error al recuperar los datos Error al recuperar los datos Error al recuperar los datos Error al recuperar los datos
