Invicta pockets C$4.22 million; Altair raises $40 million; Plato arranges C$1.02 million, plans more

By LLuvia Mares

New York, Nov. 30 - Invicta Oil & Gas Ltd. wrapped the C$4.21 million second tranche of its private placement Friday, saying the transaction went smoothly despite a small mishap earlier in the process.

"It's was just the way it happened," said Ian McKinnon, company president, regarding the tranches. "There was a larger chunk of the money that came and then there was a delay on the second bit we were expecting, so we just decided to do it in two tranches, so there really isn't anything mysterious about it."

The company raised C$39 million in the first tranche on Nov. 23, and raised C$43,215,680 total after completing the second piece.

The deal was announced as a C$40 million placement on Oct. 1 and priced on Nov. 1 for C$35 million, then was boosted to C$40 million again on Nov. 5 and increased again to C$45 million on Nov. 8.

In the final tranche, the company sold 7,528,000 common shares at C$0.56 per share.

The company's stock (TSX Venture: IGG) closed at C$0.53 on Friday, up C$0.01 from Thursday's C$0.52 close.

The company initially planned to sell a total of about 80.36 million shares.

A portion of the proceeds will be used to finance the closing of a previously announced deal with Cheetah Oil & Gas Ltd., its subsidiary, Cheetah BC, and Kepis & Pobe Investments Inc. in which Invicta plans to acquire 90% of Cheetah BC's shares. The balance of the proceeds will be used for exploration and working capital.

Invicta Oil & Gas is an oil and gas company based in Vancouver, B.C.

Altair sells $40 million

In the technology sector, Altair Nanotechnologies Inc. completed a $40 million private placement of stock.

The company sold 11,428,572 shares at $3.50 per share to investor Al Yousuf LLC. No warrants were attached to the deal.

"We see the tremendous global growth opportunity for Altairnano's innovative battery technology in both the transportation and stationary power markets," said Iqbal Al Yousuf, Al Yousuf president, in a press release.

"Given our transportation expertise, we believe these markets are ready for Altairnano's clean, powerful and scaleable energy storage systems."

Altair's stock (Nasdaq: ALTI) closed at $4.05 on Friday, down $0.09 from Thursday's $4.14 close.

J.P. Morgan Securities Inc. was the placement agent.

Proceeds will be used toward manufacturing growth, working capital and general corporate purposes.

Reno, Nev.-based Altair is an innovator and advanced novel supplier of ceramic nanomaterials.

Plato to return after C$1.02 million

Even before Plato Gold Corp. settles a C$1.02 million private placement of units, the company already has plans for future financing shortly after the new year.

"In the new year we will be going back to the market for some hard dollar financing in January or February and we are also going to be focusing on our properties in Argentina," said Anthony Cohen, company president.

"In Canada flow-through shares have a huge tax incentive and because there is such a huge amount of junior exploration companies, investors get all the money back from the government if they do it at this time of year."

The company will sell 9.28 million units at C$0.11 each. The units consist of one flow-through share and one warrant with each two-year warrant exercisable at C$0.20 for one year and at C$0.30 thereafter.

The warrants may expire sooner if the company's common shares close at C$0.30 or higher in the first year or at C$0.40 or higher in the second year for 20 consecutive trading days. In that case, the warrants will expire 30 days after the company notifies holders.

The company's stock (TSX Venture: PGC) closed at C$0.115 Thursday and did not see a change on Friday.

Proceeds will be used for exploration.

Toronto-based Plato Gold is a mineral exploration company with properties in Canada and Argentina.

Faroe sells £45 million

In the oil and gas sector, Faroe Petroleum plc led news after raising £45 million in a private placement of shares.

"Faroe has been transformed over the last few years; the team has built a strong portfolio of production, appraisal and exploration assets with a very substantial prize in excess of two billion barrels of oil equivalent net un-risked resource," said Graham Stewart, company chief executive, in a press release.

"Alongside this we have established high-level partnerships with major oil companies and now enjoy the position as the third largest gross acreage holder in the Atlantic Margin. This placing gives us the firepower through efficient use of capital to execute the many opportunities open to us, including a 26 well program with 15 expected by the end of 2008."

The company will sell 30,612,245 ordinary shares at 147p apiece.

The company's stock (London: FPM) closed at 162p on Friday, up 11.50p from Thursday's 150.5p close.

Panmure Gordon and Tristone Capital will be joint brokers for the deal.

Proceeds will be used for drilling, development, exploration and growth.

Based in Aberdeen, Scotland, Faroe Petroleum is an independent oil and gas company focused on exploration in the Atlantic Margin, the North Sea and Norway.

DigitalFX negotiates $7 million

With plans to expand business, DigitalFX International, Inc. said its $7 million private placement of senior secured convertible notes and warrants will help it reach its short-term goals.

"This financing provides us with working capital to support our product development and growth initiatives to drive growth in 2008," said Craig Ellins, company chief executive officer, in a press release.

"The additional funds will also provide valuable flexibility and stability to continue to expand our business to a global level."

The convertibles will mature in three years and bear interest at 7.5% per year. Interest is payable quarterly.

They will be convertible at $2.80 per share.

Beginning one year after closing, DigitalFX will be able to force conversion if the average of the daily volume-weighted average price of its stock is at least $4.90 for 20 consecutive trading days.

The investors will receive five-year warrants for 875,000 shares, exercisable at $2.93 per share.

DigitalFX's stock (Amex: DXN) closed at $2.52 on Friday, down $1.13 from Thursday's $2.65 close.

Maxim Group LLC is the placement agent.

Settlement was expected on Friday.

Proceeds will be used for strategic initiatives and working capital.

DigitalFX is a Las Vegas-based digital communications and social networking company.

Baymount negotiates C$2 million

Baymount Inc. announced Friday its plan to raise C$2 million in a private placement of shares.

"We anticipate that this private placement in addition to our previously announced construction loan financing will provide all of the necessary capital to complete the construction of the company's Racino facility in Belleville, Ontario," said Graham Simmonds, company president, in a press release.

The company will sell 20 million common shares at C$0.10 per share.

Baymount's stock (TSX Venture: BYM) closed at C$0.10 on Thursday and did not see any change Friday.

Blackmont Capital Inc. will be the agent.

Proceeds will be used to build and develop the company's Quinte Raceway and Slots, a new racetrack and slot facility.

Based in Toronto, Baymount makes investments within the equine industry.

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