Deals

Perth-based Palace Resources is one step closer to becoming a tech company, after completing a $4.5 million capital raising as part of a reverse takeover of TikForce.

Nine Entertainment has taken a 9.99 per cent stake in regional broadcaster Southern Cross Media, in the first of many moves expected in the sector as players position themselves ahead of a likely change in ownership rules.

Investment banking giant Credit Suisse has dealt a blow to the state government’s hopes of a big windfall from the privatisation of Western Australia’s TAB, revising its value estimate down by at least 65 per cent to under $250 million.

Flinders Mines shares have surged after the Pilbara focused iron ore junior received a $38 million takeover offer from private New Zealand company Todd Corporation, which last year offered to buy Flinders' major project.

Shares in TW Holdings slumped sharply today after it announced a backdoor listing of medical cannabis company AusCann Group Holdings, the second deal of this type involving members of the Washer family.

Logistics firm QUBE Holdings has raised $250 million through a rights share placement to institutional investors as part of its fund raising related to the Asciano acquisition.

Shares in Platypus Minerals were down more than 31 per cent today as the company announced a $10 million deal to buy Belmont-based lithium explorer Lepidico.

The Pacific National rail business and the Patrick container terminal business are set to come under new ownership after Asciano agreed to a $9.05 billion takeover deal that is designed to sidestep regulatory concerns.

Troy Hayden will step down from the helm of Tap Oil as the company swings the axe on jobs and operations so it can meet its now-restructured debt repayment obligations.

Local tech company iWebGate has signed a $US8.6 million ($A11.4 million) funding deal with an entity managed by US-based Lind Partners to help grow its business.

CBH Group is planning to launch a full review of its cooperative structure after formally rejecting a proposal from Australian Grains Champion to corporatise and list the business on the ASX.

Western Areas founder Terry Streeter has emerged as a major shareholder in nickel and gold explorer St George Mining, after participating in a $2.13 million capital raising.

Gold hopeful Blackham Resources has tapped investors for a $20.3 million capital raising to fund ongoing work at its Matilda project near Wiluna.

Shares in West Perth-based Drake Resources have doubled in value on news the company is planning to exit the resources industry by acquiring an Israeli tech company for $11 million.

Grower feedback has led the Australian Grains Champion to remove two clauses from its proposal to corporatise CBH Group, with the consortium continuing to criticize the CBH board’s handling of the matter.

Local company Talisman Mining has tapped investors for a $16.7 million capital raising to fund ongoing exploration at its Springfield copper-gold project in the Murchison region.

Gold hopeful ABM Resources has restructured its board and initiated a capital raising and debt facility agreement as it progresses its Tanami tenements in the Northern Territory.

Local tech firm Shark Mitigation Systems has launched a prospectus for a $4 million IPO, while two other WA companies have revised their plans for backdoor listings.

Offshore oil and gas services firm Aecor Group has expanded through the acquisition of industrial rope access and inspection company Vertical Services.

Perth-based financial services provider Pioneer Credit has acquired an online mortgage broking company for an undisclosed sum.

Perth-based wearable technology company Nuheara has enjoyed a bright start to trading on the ASX, with investors in its $3.5 million capital raising sitting on big gains today.

Five junior resources companies have completed a combined $16.4 million worth of capital raisings to fund ongoing work at their respective operations.

Shares in gold hopeful Alicanto Minerals have surged on news the company has signed a $US10 million ($A14 million) earn-in agreement with Canadian mining giant Barrick Gold for its Arakaka project in Guyana.

After nearly eight years of inactivity on the ASX, Michael Fotios’s Eastern Goldfields could be reinstated as early as next month after announcing today its capital raising had closed oversubscribed.

Subiaco-based gold miner Perseus Mining has launched an all-scrip bid for London-listed Amara Mining in a deal worth about $85 million.

Perth technology entrepreneur Kashif Saleem has begun a seed capital raising for his award-winning Track’em business ahead of a planned ASX listing by the end of the year.

Grain handler CBH Group has called for more information on the $1 billion-plus offer from Graincorp-backed Australian Grains Champion to corporatise and list the cooperative, highlighting concerns around long term cost increases, the proportion of grower ownership and board representation.

Perth-based law firm AdventBalance, which pioneered a new approach to flexible delivery of legal services, has announced plans to merge with London counterpart LOD, formerly Lawyers On Demand.

Rival bidders for rail and ports giant Asciano are considering making a joint, all-cash $9.05 billion bid in an effort to seal the long-running takeover battle.

Gold miner Beadell Resources has received commitments for a $50 million capital raising to fund exploration to build its mining inventory.

Mineral sands miner Iluka Resources has made good on its commitment to invest further in UK technology company Metalysis, announcing today a $12.2 million injection into the business with plans for another $8.1 million soon.

Automotive Holdings Group has won regulatory approval for the sale of its Covs Parts business after agreeing to retain four regional stores, and has also expanded its east coast operations through another acquisition in Melbourne.