Northern Peru wraps C$5 million private placement; Lifevantage closes $1.08 million private placement

By: LLuvia Mares

New York, Oct. 1 - The general market tone in the PIPEs sector has been stable recently according to one market source, Monday.

"Since the credit crunch has some what resolved itself from late summer, it seems to have steadied," the market source said. "There isn't anything big coming into the [PIPE] market so we don't expect any increases or decreases in the upcoming weeks."

Although the credit crunch has been turning stomachs in other areas of the market, an analyst said private placement deals from junior companies have been business as usual.

Northern Peru settles C$5 million

Northern Peru Copper Corp. successfully dug into some pockets after completing a previously reported non-brokered C$5 million private placement of shares. The deal was announced Sept. 12.

"We have one of the largest undeveloped copper projects in the world and in a copper market where there is a lack of significant copper supply and future copper supply," said a company insider.

"Galeno is the main project the company represents and it is an extremely good investment for people who are interested in copper, in regards to the copper supply in the future of the world market."

As previously reported, the company sold 549,451 common shares at C$9.10 apiece. The shares have a four-month hold period.

Its stock (Toronto: NOC) closed at C$9.99 Monday, down C$0.44 from C$10.43 on Sept. 28. The company's stock has significantly increased from its closing price of C$9.78 Sept. 12, when the deal was announced.

Proceeds will be used to fund a feasibility study on the company's Galeno project, acquisition of certain surface rights, exploration programs, repay a loan provided to the company, make payments in respect of additional mineral rights and for general corporate purposes.

"At the moment the financing that we have done will take the company through the completion of its feasibility study on the construction of this mine," he said. "So it's uncertain when we will need to come back to the markets again."

Northern Peru is a resource exploration company based in Vancouver, B.C.

Lifevantage wraps $1.08 million convertibles

Lifevantage Corp. announced it settled a $1.075 million private placement of units of convertible debentures and warrants.

The sale was the initial closing of an offering that had a minimum size of $1 million and a maximum of $2 million. Lifevantage may sell up to an additional $500,000.

Each unit is made up of a convertible debenture with a $10,000 principal amount and warrants to purchase up to 50,000 shares at $0.30 each.

The convertibles have an 8% interest rate and expire in three years. They are convertible at $0.20 per share and at maturity Upon the maturity date, all principal and interest will be paid in full or converted into stock at the lower of $0.20 per share or the average trading price for the 10 days immediately prior to the maturity fate.

The warrants expire in five years and can be exercised on a cashless basis beginning one year after the closing date.

Its stock (OTCBB: LFVN) closed at $0.20 Oct. 1, down $0.02 from Friday's $0.22 closed.

Greenwood Village, Colo.-based Lifevantage specializes in health products.

Universal Uranium plans C$2 million

Universal Uranium Ltd. announced it plans a C$2 million private placement of flow-through units.

The company will sell 2,352,940 flow-through units at C$0.85 per unit. Each unit consists of one flow-through common share and one half-share warrant. Each whole two-year warrant is exercisable at C$1.25 in the first year and C$2.00 in the second year.

The warrants may expire sooner if Universal Uranium's shares trade at C$1.50 or higher in the first year and C$2.25 or higher in the second year. In that case, holders will be given 30 days to exercise their securities.

Its stock (TSX Venture: UUL) closed at $0.69 on Monday, down $0.03 from $0.72 on Sept. 28.

"You have uranium discovery in Labrador, the first new discovery in essential minerals in over 30 years. The companies around us are trading between $5 and $15. We are currently trading at $0.70," said a company spokesperson.

"We are drilling in Labrador and also in Arizona at our Artillery Peak location and we have a historical resource of 1.7 million pounds."

Proceeds will be used for exploration.

Universal is a uranium exploration company based in Vancouver, B.C.

Fareport settles C$1.8 million stock

Fareport Capital Inc. announced it completed a C$1.8 million private placement of shares.

The company sold 240,000,000 common shares at C$0.075 apiece to A to Z SPI 3 Inc.

In addition, Fareport issued a common share purchase warrant to A to Z SPI 3 Inc. equal to 12% of the total proceeds. The two-year non-transferable warrant is exercisable at C $0.01 per share.

Its stock (TSX Venture: CAB) closed at C$0.01on Sept. 28 and did not see any activity Monday.

AtoZ is now the controlling shareholder.

Fareport is a Toronto-based taxicab and transportation company.

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