Deals

Resource Development Group has made its first major purchase since the sale of three subsidiaries in 2015, buying a majority stake in mining services business Mineral Solutions Australia for $2.8 million.

Nedlands-based NeuroScientific Biopharmaceuticals, which has been bankrolled by the Clough family, is set to begin trading on the ASX tomorrow, after raising $6 million via an initial public offering.

Fleetwood Corporation has continued with a major reshaping of its business, announcing two acquisitions on the east coast and a $60 million capital raising, one month after selling its caravan manufacturing business.

Car rental and mechanical service company Thrifty WA has begun a $20 million expansion of its operations in the Goldfields, a new branch at Kalgoorlie-Boulder Airport.

MMJ PhytoTech has invested CAD$0.15m for a 2.5% shareholding in privately-held Embark Health Inc as part of their CAD$1m seed funding round. 

Wesfarmers has announced it anticipates the demerger of Coles to be completed by the end of November, after the company’s annual general meeting, and will seek to retain a 15 per cent stake of the business.

Perth finance executives Andrew Frazer and Simon Lill have agreed to a strategic alliance between their respective businesses.

MOD Resources has moved to full ownership of its T3 copper project in Botswana, after acquiring UK-based Metal Tiger’s stake of the project in a scrip deal worth $26.6 million.

Hancock Prospecting’s $390 million takeover bid for struggling iron ore miner Atlas Iron has been endorsed by independent expert BDO, which found the pricing was fair and reasonable.

Altech Chemicals is pleased to announce that it has received commitments from a variety of institutional and professional investors for a share placement of ~$17 million.

Listed funeral company InvoCare has continued to expand its market share in Western Australia, after purchasing South West business Archer & Sons Funeral Homes.

Canada-listed BlueBird Battery Metals has entered into an agreement to farm-in to Impact Minerals’ Broken Hill project in NSW, in a cash-and-scrip deal worth about $5.5 million.

Tap Oil has urged shareholders to reject a $29.8 million takeover bid from major shareholder Risco Energy Investments, after independent expert BDO valued the company well above the offer price.

Dacian Gold has announced a capital raising worth up to $45 million to fund exploration at its Mt Morgans operation near Laverton.

Sandfire Resources has entered into a strategic relationship with Victoria-based White Rock Minerals, which includes a $2.5 million equity investment and an option to earn-in to the junior explorer’s Red Mountain zinc project in Alaska.

Diversified contractor Tempo Australia has announced it will acquire NSW-based telco services company Comsite Services in a deal worth up to $4 million.

UK-based Black Dragon Gold has announced plans for a $6 million initial public offering and listing on the Australian Securities Exchange.

Local engineering company Primero Group made a steady debut on the ASX today after completing a $25 million initial public offering.

Automotive Holdings Group today announced that HNA International (HNA) has confirmed that it is terminating the agreement announced on 23 November 2017 to acquire the Company’s Refrigerated Logisti

Altech Chemicals has raised $17 million to help fund the construction of a high-purity alumina (HPA) plant in Malaysia.

Williams-based Wide Open Agriculture has begun trading on the ASX today after the company raised $5 million via an initial public offer.

South African firm DRA has expanded its Australian presence with the purchase of G&S Engineering Services from diversified infrastructure company Calibre Group.

Tech company Family Zone Cyber Safety has raised $5 million via an equity investment from UK-based advisory firm Tellus Matrix.

Joondalup-based medicinal cannabis hopeful AusCann Holdings has secured $33.4 million from local and North American institutions, with NYSE-listed marijuana play Canopy Growth Corporation upping its stake to 11.2 per cent.

Potash explorer Agrimin has boosted its coffers with a $10 million capital raising to progress the definitive feasibility study being undertaken at its Mackay project in Western Australia.

Sydney-based Vango Mining has announced a $5.1 million capital raising to fund exploration at its Plutonic Dome gold project in Western Australia's Mid West.

Independence Group has agreed to pay $21 million in cash and shares to prospector Mark Creasy to acquire a 70 per cent stake in a series of tenements in the Fraser Range near its Nova nickel mine.

Rift Valley Resources has tapped investors for $5.5 million as the company continues exploration work at its Longonjo rare earths project in Angola.

Automotive cooperative Capricorn Society has increased its stake in Fremantle-based environmental technology company Pearl Global (formerly Citation Resources) to 6.1 per cent after investing $1.8 million.

The Takeovers Panel has dismissed an application from Fortescue Metals Group questioning the veracity of Hancock Prospecting’s $390 million bid for Atlas Iron.

Automotive Holdings Group has confirmed the proposed $400 million sale of its refrigerated logistics business has fallen through after Chinese conglomerate HNA Group called off the deal due to liquidity issues and approval delays.

The board of Atlas Iron has unanimously recommended a revised bidder’s statement from Hancock Prospecting, while also announcing the suspension of production at its Mt Dove iron ore mine due to challenging market conditions.