EQTEC plc, an Ireland-based gasification technology solutions company, entered into a new unsecured loan facility for up to £10M with RiverFort and Yorkville Advisors. EQTEC drew down an initial tranche of £5M, to be repaid in monthly instalments following a 4-month principal and interest repayment holiday.
EQTEC will use the facility to fund its CAPEX requirements for its major projects.
Having previously arranged a £3M facility for Deepverge back in July 2020, RiverFort has now arranged and participated in a new 12-month mezzanine loan note for up to £25M, available for 3-years. DeepVerge drew down £4M immediately to acquire Glanaco Limited, an engineering services company, with the remaining funds being used for DeepVerge’s US expansion.
Investment holding company, Blackhawk Growth Corp, entered a Credit Facility of up to $10 Million, arranged by Riverfort Global Capital and funded by a regulated institutional investor. The firm put the proceeds towards the research undertaken by its subsidiary, Trip Pharma, as well as for Blackhawk’s operational and working capital purposes.
Frederick Pels, Chief Executive Officer of Blackhawk, commented: “this new Credit Facility serves as a proactive step towards continuing to strengthen Blackhawk’s balance sheet, improving our long-term financial liquidity and lowering our overall cost of capital. Teaming with RiverFort will allow us to continue growing our investment portfolio while driving returns for our stakeholders with a partner who demonstrates an understanding of the opportunity of lending to venture backed companies.”
Levitee Labs Inc. is a multidisciplinary, integrated, wellness company based in Vancouver, British Columbia. Levitee entered into a credit facility of up to $12M to fund acquisitions in the clinic, pharmacy and mental health spaces. The initial $2.5M tranche matures on October 20, 2023. The secured loan facility was arranged by RiverFort Global Capital and provided by RiverFort Global Opportunities.
Pouya Farmand, CEO of Levitee commented, “We are grateful for the support we are receiving from RiverFort. We believe this financing is not only reflective of their confidence in the proposed acquisition strategy, but also in the acquisitive growth potential of Levitee Labs once acquisitions are completed. We are committed to continuing to execute our accretive acquisition program, adding another catalyst engine to Levitee’s future growth potential.”
In September 2021, RiverFort Global Capital arranged a convertible loan deal between Bioactive Bone Substitutes Oyj and RiverFort Global opportunities PCC Ltd. The facility had an aggregate commitment amount of up to €2,000,000 and a commitment period of 3 years. The initial commitment amount is between €500,000 – €750,000 with further tranches up to the aggregate commitment amount subject to mutual agreement.
Funds were used towards achieving the CE-marking of the first product in addition to financing sales, marketing and operations.
Further to the announcement on 30 July 2021, Valoe Corporation has completed the drawdown of the Second Advance of €1M.
Iikka Savisalo, CEO, Valoe Oyj concludes: ”Valoe has been proceeding with the growth of our operations in accordance with our plans. We intend to deploy the additional working capital to drive towards our objective to have clean solar electricity available for everyone everywhere. We are delighted in the vote of confidence from RiverFort in completing the Equity Subscription as we strive towards the position as the global technology leader in the Vehicle Integrated PV.”
Alongside it’s participation in a £1 Million equity raise arranged by Shard Capital Partners, RiverFort combined with Sanderson Capital Partners Ltd to provide a £3 Million amortizing Mezzanine Loan Note via a 50:50 split between the 2 firms. The proceeds will be used by Dukemount to construct and operate two 11kv gas peaking sites with a total 10MW in size, the first two of a portfolio of peaking sites the company intends to construct.
Valoe Corporation, a Finnish company specialising in photovoltaic technology, has signed an agreement providing for €3M of committed advances. Each drawdown of the amortising mezzanine loan facility will have an 18-month maturity, with a 4-month payment holiday, followed by 14 equal monthly principal and interest payments which may be settled by Valoe in either cash or shares.
Rambler Metals and Mining is a mining and development company that brought its first mine into commercial production in November 2012. The company has 100% ownership of the Ming Copper-Gold Mine in Canada, as well as fully operational precious metals processing, storage and shipping facilities.
Rambler signed a 3 year term sheet for a $20 Million senior secured loan with an institutional investor based in Toronto, Canada. Additionally, the company signed a term sheet for a $30 Million unsecured, subordinated, convertible loan provided by RiverFort Global Opportunites PCC limited and YA II PN Ltd.
The funds will be used to pay off existing $6.6M debts and to fund the company’s mine development program.
Challenger Exploration announced a fully funded new 5-rig, 30,000 metre drill program at its Flagship Hualilan Gold project in San Juan, Argentina, enabled by a A$3.5M advance from RiverFort.
Under the Funding Agreement, Challenger issued A$3.5M of deep in the money options in return for the A$3.5M advance, whilst also being required to pay 6% interest per annum on the outstanding balance until the facility is repaid in July 2022.
Ideanomics Inc is a NASDAQ-listed global electric vehicle company focused on driving the adoption of commercial electric vehicles. Ideanomics entered a US $80M convertible debenture that allows the investors to convert the loan into shares of its common stock at the fixed price of $4.95.
Blackstone Resources AG, the Swiss Exchange-listed company, entered an agreement for a zero-coupon convertible loan facility for up to CHF 20M.
The loan facility will be invested in Blackstone Resources’ German subsidiary, Blackstone Technology GmbH, to fund its plans to mass-produce the next generation of 3D-printed solid-state batteries.
Invinity Energy Systems, the AIM listed manufacturer of vanadium flow batteries for the large-scale energy storage requirements of businesses, industry and electricity networks, has completed a £20M institutional fund raise at the placing price of £1.75, representing an 8.1% discount.
In March, alongside an equity investment from Schroders, Riverfort provided a £3M convertible loan package to Invinity. This empowered Invinity to complete its merger, secure new contracts including an 8 MWh Vanadium Flow Battery system for a utility-scale solar-plus-storage project and has led to over a 250% increase in share price.
Resource management company Cerra De Pasco Resources announced the completion of a $1 Million, one-year, convertible debenture to to be used for general working capital and to initiate the company’s Quiulacocha Drilling Program in Peru.
Deep Verge (formerly Integumen), the vertically integrated, LSE-listed tech firm, secured a £3 Million, convertible funding facility, of which £1.5 Million was drawn down immediately.
Integumen’s CEO, Gerard Brandon, commented:
“Integumen has built multiple revenue streams, guided £4m in revenue for 2020 and continues to expand product and service development programmes. This comprehensive loan facility has been designed to align with the Company’s guided revenue projection and provide sufficient working capital to maintain and build on that growth well into 2021. Our objectives for the next year see further opportunities to support the fight against COVID-19 and expansion of our Labskin services business into new regions and these funds will support that progress.“
RiverFort is pleased to announce that it has arranged the signing of a US$14 million convertible debenture loan agreement announced by Tanzanian Gold Corp, the TSX and NYSE-listed mining company.
The funding will enable Tanzanian Gold to expand its oxide mining and processing operation as part of its Buckreef Project, as well as advancing a Feasibility Study for its larger sulphide mining complex
Kodal Minerals received an initial advance of $0.75 Million, with a further $0.75 Million available under the facility. The funding, which was made via an unsecured convertible loan note, was provided by Riverfort Global Opportunities PCC and YA II PN Ltd.
The loan will enable Kodal to accelerate its development of its flagship Bougouni Lithium project in Mali, in addition to funding further exploration work at the companies gold projects.
Zanagi Iron Ore, whose flagship asset is a 50% less one share interest in the Zanaga Iron Ore Project located in the Republic of Congo, entered into a Subscription Agreement with Shard Merchant Capital Ltd.
Under the Subscription Agreement, Zanaga will issue up to 21 million ordinary shares to Shard in up to three tranches of up to 7 million shares. Shard will then place these Subscription Shares within a three month period, with the proceeds being returned to Zanaga, less fees.
Kodal Minerals, a lithium focussed development and exploration company, is set to raise £0.5 Million over a period of 12 months through the completion of an equity placing and sharing agreement with RiverFort Global Opportunities PCC.
InfraStrata have entered into an agreement to purchase the Harland And Wolff Heavy Industries Limited and Harland and Wolff Group Plc from the administrator for a total consideration for £6million, the purchase will save the 79 jobs that were originally at risk due to the administration of the company.
To fund the purchase InfraStrata have entered into an agreement for £2.2million with RiverFort Global Opportunities PCC arranged by RiverFort Global Capital. The loan is unsecured and interest free on the first tranche of £700,000.
RiverFort are pleased to announce an agreement to participate in the £5.5 million loan agreement announced by UK Oil & Gas plc (“UKOG”) on 7 August 2019 in connection with the acquisition of Magellan Petroleum (UK) Investment Holdings Limited. (“Magellan”) Magellan holds a 35% direct interest in the Horse Hill oil field and surrounding highly prospective PEDL137 and PEDL246 licenses.
RiverFort’s participation in the loan is expected to be £700,000 and will be issued via participation certificate from RiverFort Global Opportunities PCC Limited.
RiverFort continues to actively deploy its investment capital and in recent weeks has made other investments totalling over £150,000.
The Company is pleased to announce that it is participating in the £5.7 million investor sharing agreement (“ISA”) which forms part of a fundraising of up to £8.25 million announced by Anglo African Oil & Gas plc (“AAOG”) on 17 July 2019
The Company is pleased to announce that it is participating in the £5.7 million investor sharing agreement (“ISA”) which forms part of a fundraising of up to £8.25 million announced by Anglo African Oil & Gas plc (“AAOG”) on 17 July 2019. This fund raising also includes Miton Asset Management investing around £2.6 million in a placing of ordinary shares in AAOG. The structure of the ISA is such that 109,331,011 ordinary shares in AAOG, are issued to the ISA
investors and the subscription monies payable for these shares are then paid back to these investors.
These monies will then be repaid to AAOG in 12 equal monthly instalments by the investors, subject to certain adjustments based on the performance of the AAOG share price and the trading of the shares by the investors. The Company’s involvement is through a participation certificate issued by RiverFort Global Opportunities PCC Limited rather than through a direct interest in the ISA. This is a reference linked financial instrument that provides similar economic benefits to the holder as if they were co-investing directly in the underlying investment enabling the Company to participate in any gains realised through the ISA.
Riverfort arranges funding of US$22.5 Million for the execution of the Kabwe Project
Jubilee is pleased to announce that it has executed a share purchase agreement for the acquisition of the Sable Zinc refinery in Kabwe Zambia. The combined secured funding fully funds the Acquisition as well as the project capital required to implement the Project to produce zinc, vanadium and lead from the surface material at Kabwe. The funding was successfully secured in partnership with the Company’s lead arranger RiverFort Global Capital Ltd and its corporate broker Shard Capital Partners LLP with assistance from WH Ireland.
RiverFort facilitates joint loan facility of £3 Million for the development of the Balcombe Field Discovery
WhiteHawk Limited completed a placement to RiverFort Global Opportunities PCC Ltd to raise A$1.2 Million in addition to a A$0.8 Million equity swap. The equity swap will have a term of 12 months, with WhiteHawk receiving 1/12th of the A$0.8 Million amount each month, plus or minus an adjustment based on the company’s share price performance.
RiverFort facilitates joint loan facility of £3 Million for the development of the Balcombe Field Discovery
The Company has entered into a £3 Million loan facility (“Facility”) with YA II PN Ltd and Riverfort Global Capital. Proceeds of the financing will be primarily deployed for the future development of the Balcombe Field Discovery.
RiverFort supports Live Company with £1 Million acquisition finance
Live Company Group plc (AIM: LVCG) is pleased to announce completion of the acquisition of Bright Bricks Holdings Limited (“Bright Bricks”), following payment of the £2.167m cash consideration and issue of the 8,461,536 new ordinary shares of 1p each in the Company (“Consideration Shares”) to the vendors of Bright Bricks (“Vendors”). The Company has today entered into an agreement (the “Agreement”) for the provision of a £1,000,000 loan facility (the “Facility”) arranged by RiverFort Global Capital Limited.
Red Rock Resources collaborated with RiverFort investors to provide secured bridging finance to Steelmin, a ferro-silicon smelter in Bosnia. The investment transaction resulted in Red Rock Resources and RiverFort investors recovering all of their combined principal capital and Red Rock Resources securing a 22% equity interest in Steelmin.
In mid 2017 Red Rock Resources had come across Steelmin in Bosnia just as the latter was looking for the final stage of capital to bring its smelter into production. The opportunity looked to have potentially very attractive operating and financial characteristics once in production.
Steelmin is the owner of a well-built plant in ex-Yugoslavia, with one 48 MVA furnace installed by Elkem and one 30 MVA furnace installed by Tagliaferri. Steelmin was in the final stages of generating production from the first furnace, with a target production run-rate of €36m in annual revenues and €7m EBITDA.
In collaboration with Riverfort, Red Rock executed a process of intensive negotiations and due diligence with Steelmin to complete the ‘last dollar’ finance. On 23 June (and 3 July last year) the deal was announced. Red Rock would borrow a $4.4m Note from a consortium arranged by Riverfort, and would then lend to Steelmin a €3.85m Loan.
By mid-January Steelmin signed up a new longer term lender, which would also provide additional working capital and possibly expansion finance, and on 21 February, less than eight months after the initial announcement, Red Rock Resources announced that its Loan had been repaid in full and it had repaid the remaining part of the Note. After repayment of RiverFort investors, Red Rock holds an undiluted 22% interest in Steelmin which is preparing to start production in the near term.
Based on the success of its Mistubishi-Hernic project which was financed by RiverFort Global Capital, Jubilee Platinum enters into a $50M, 3-year strategic project finance agreement with a syndicate of investors managed by RiverFort Global Capital to expand on its world-leading position in the profitable recovery of metals from mining waste. The RiverFort syndicate will provide senior-secured (non-equity) asset finance to projects sourced, diligenced and operated by Jubilee Platinum. The funding will allow Jubilee Platinum to accelerate towards unlocking a significant portion of the large global potential that exists in the reprocessing of surface materials. Benefits of this strategy include (1) a long-term income yield linked to the success of each recovery plant, (2) targeting by each recovery plant of production costs in the lowest quartile on a global basis, reducing the impact of any future market correction and (3) positive environmental benefits of each recovery plant leading to increasing opportunities as regulatory authorities and reputational pressure lead to more mining companies seeking sustainability solutions.
RiverFort attends 121 Mining Investment London gathering
Each year the 121 Group holds multiple industry focused finance events around the globe, providing investors and corporates with high quality forums and a gathering place for the latest in market intelligence, project updates and funding opportunities. This year’s 121 Mining Investment London conference, attended by RiverFort Global Capital in the heart of London’s financial district, brought together over 60 international natural resource companies and 250+ institutional investors and analysts. One-on-one meetings provided ample opportunities for our mining team to receive updates on some of the world’s most promising natural resource plays and an intimate setting for company management teams to present the latest in corporate strategies and financing opportunities. Said RiverFort mining specialist Andrew Nesbitt: “With prices of key metal and resource commodities either rising or stabilizing over the past year, we saw the amount of funding partnership opportunities at this year’s London 121 Mining Investment gathering increase. As always, the one-on-one meetings with management teams allowed us to meet and refamiliarize ourselves with some of the most attractive opportunities in the natural resource space.”
Artemis Resources announces acquisition of the Radio Hill mining asset
Artemis Resources has today announced the acquisition of the Radio Hill Nickel/Copper/Cobalt Mine and Metallurgical Plant located in the Pilbara Region of Western Australia. The acquisition, funded via a $2M facility provided by a consortium of institutional investors and arranged by RiverFort Global Capital, represents a major milestone in the company’s goal of creating a “hub-and-spoke”-style operation in the region and a step towards building a multi-faceted production company with widespread asset exposure, consisting of the vast and growing cobalt, copper, nickel, zinc, gold, palladium, platinum and iron ore resources within the region inhabited by the Radio Hill Mine.
Tom Winnifrith and RiverFort CEO co-author structured finance white paper
Making Structured Finance Work! Tom Winnifrith, founder of leading stock exchange commentary website Share Prophets, and Brian Kinane, CEO of RiverFort Global Capital, have published a co-authored structured financing solutions white paper. It has always been RiverFort’s view that structured finance, when done right, provides a valuable source of capital to public companies, enabling management teams to execute business strategies that enhance shareholder value. In their paper, Tom and Brian provide a deeper understanding of the positive aspects of structured financing by (1) distinguishing between reasonable and unreasonable structures, (2) identifying ways in which companies and shareholders can arrange funding to complement equity and debt investments that manage financial risk and (3) looking at how the industry in general can work to institutionalise structured finance instruments in order to make them a routine part of the equity capital markets.
RiverFort receives authorization from FCA
RiverFort Global Capital are delighted to announce that they have today received authorization from the Financial Conduct Authority (FCA) in the United Kingdom. Our reference number is 766760. As a result of obtaining their own authorization, RiverFort is no longer an Appointed Representative. This authorization allows us to continue to engage with our clients to the highest standards which they are accustomed to in addition to ensuring we adhere to the strict regulatory standards expected.
RiverFort sponsors UK Investor Show 2017
Recognised as the UK’s top one-day event for investors in London, this year’s UK Investor Show was held at the Queen Elizabeth II Conference Centre in Westminster. With over 2,500 people and 100+ major international growth companies, brokers and PLCs in attendance, the show was highlighted by expert panel analysis on trending industry topics, CEO company presentations and an open showroom with hundreds of company-focused stalls. RiverFort Global Capital CEO Brian Kinane was granted the honor of hosting a major panel session with several leading gold mining company CEOs and industry experts focused on gold-centric investments across equity markets. Furthermore, RiverFort teamed up with VR Immersive Education, a virtual reality software company dedicated to creating quality educational experiences, to present conference attendees with a VR demo based on the Apollo 11 space mission, which proved to be one of the event’s most-well attended exhibits.
Mining industry gathers in Cape Town for African Mining Indaba
For over 20 years hundreds of companies, industry experts, institutional investors and government representatives have descended on Cape Town, South Africa, to attend Investing in African Mining Indaba, a week-long conclave dedicated to the forefront of successful capitalisation and development of mining interests in Africa. Committed to the sustainable advancement of the mining development and investing, the gathering brings together the most important people at the forefront of the mining industry for a week of enhanced networking, interactive corporate presentations and proactive meetings between businesses and investors. This year, RiverFort Global Capital was extremely pleased to co-host along with VSA Capital an extremely well-attended corporate event in the heart of Cape Town’s waterfront district entailing an evening of industry networking and fun. RiverFort mining specialist Andrew Nesbitt commented: “I look forward to attending Indaba every year, as it is truly one of the premier gatherings within the industry, all with the backdrop of beautiful Cape Town. I’m especially proud that RiverFort was able to co-host such a well-received event this year, with proceeds going to XXXX charity.”
RNC Minerals receives financing to fund Beta Hunt Mine operations
Located in the prolific Kambalda mining district in Western Australia, RNC Minerals’ 100%-held Beta Hunt Mine combines an excellent location in an established mining region, existing infrastructure, a history of successful and increasing gold and nickel production and tremendous exploration potential, all making the asset one of the premier mining operations in Australia. Today RNC Minerals announced that it has entered into a $2.5M financing facility arranged by RiverFort Global Capital that will provide capital to be used towards the push towards positive cash flow generation at the Beta Hunt Mine. Specifically, the financing provides RNC Minerals with near-term operating flexibility and entails a low cost working capital package that will support the company’s aggressive ramp-up of exploration and production at Beta Hunt.
Keras Resources to acquire the Klondyke Gold Project
Keras Resources, the AIM-listed Australian gold mining company, has announced the low-cost acquisition of 100% of the Klondyke Gold Project in Western Australia, which immediately elevates the company towards its goal of becoming a major stand-alone, owner-operated gold miner in the region. Acquisition of the Klondyke Gold Project has been funded via a $2M financing agreement with a consortium of institutional investors arranged by RiverFort Global Capital. The acquisition represents the company’s first milestone towards consolidating the Warrawoona Greenstone Belt, a highly prospective gold region in the Pilbara region of Western Australia, and Keras plans to commence drilling operations shortly in order to gain knowledge of the geology of the play and to confirm historic results in parallel with detailed mapping and review of the entire area.
Amphion Innovations receives funding for portfolio investments
Coming off a successful AIM-IPO in 2015 coupled with a follow-up £22M institutional investment, Amphion Innovations’ portfolio company Motif Bio is widely seen to be on the verge of a breakthrough in the development of antibiotics designed to be effective against multi-drug resistant bacteria. To this end, Amphion Innovations, developer of medical, life science and technology businesses, has today announced receipt of a funding of $1.8M, co-led by RiverFort Global Capital, which provides capital to support the growth of Motif Bio going forward, as well as progress other portfolio business pipelines through development stages. The investment marks the commencement of a relationship between RiverFort and Amphion as the company continues to help build shareholder value in its high growth company portfolio in the US and UK.
Jubilee Platinum to commence construction on PGM recovery plant via US$8M debt funding
Jubilee Platinum uses $8M of debt funding secured from investors arranged by RiverFort Global Capital to enable the commencement of construction of one of the world’s most advanced metal recovery plants. The plants will recover platinum-group metals from the waste product of the Mitsubishi-Hernic ferro-chrome plant mine, the 4th largest operation of its type globally. Jubilee Platinum is implementing a very progressive strategy that improves the net operational earnings for Hernic, provides a long term income stream and positions the company as a world leader in the profitable recovery of metals from mining waste. Residual metal in mining waste is a large global market that historically has seen under-investment. In the opinion of RiverFort Global Capital investors, Jubilee Platinum’s advanced technological skills, intellectual property and experience put it in a leading position to transform this sector in a globally significant market, using methods that are sustainable from an environmental and societal perspective.