Perseus plans two deals; Western Wind wraps unit sale; Pluristem to sell $1.33 million of stock

By Stephanie N. Rotondo

Portland, Ore., May 6 - Perseus Mining Ltd. brought one of Wednesday's biggest deals to market, though a majority of the deals were on the smaller side.

Perseus announced plans to raise A$58 million via a stock placement. The company also announced a A$17 million offering. Proceeds from both financings will go toward funding development at the company's Ayanfuri mine.

Back in the northern hemisphere, Canadian power company Western Wind Energy Corp. said it completed a C$4.56 million placement of units. The deal originally priced at C$3.8 million along with a 20% greenshoe.

Pluristem Therapeutics Inc. will raise $1.33 million via a direct offering of stock, the company said. Proceeds will be used for clinical trials, among other things.

In the mining sector, GoldSpring Inc. announced it would issue convertible promissory notes to raise $2 million.

Perseus plans two deals

Balcatta, Western Australia-based Perseus Mining will take in up to A$58 million though a private placement of stock.

The company will sell its shares at A$0.82 per share.

Additionally, Perseus is planning to offer a 1-for-10 non- renounceable issue to raise another A$17 million.

Funding from the transaction will go toward development of the company's Ayanfuri mine.

"I am pleased to be able to announce this capital raising, one in which our existing shareholders will be able to participate to a significant extent," commented Mark Calderwood, managing director, in a statement.

"On completion of the offers, the funds will assist with mine development costs at Ayanfuri and will be particularly helpful in dealing with the 'long lead' items of plant, equipment and infrastructure. It will also put the company in a strong position to negotiate project finance upon completion of the Definitive Feasibility Study at Ayanfuri in July.

"I am also pleased to be able to offer participation to North American investors and, in particular, to key Canadian investors many of whom have been keen followers of Perseus's progress," Calderwood added.

Perseus'stock (Australia: PRU) closed at A$0.865.

Western Wind wraps unit sale

Western Wind Energy settled a C$4.56 million private placement of units, the company announced.

The deal originally priced at C$3.8 million with a 20% greenshoe on March 31. The greenshoe was fully exercised.

The company sold approximately 7 million units containing one common share and one half-share warrant at C$0.65 per unit. Each whole warrant is exercisable at C$1.00 for two years.

Proceeds will go, in part, toward securing a letter of credit on behalf of Southern California Edison Co. in connection with a 20-year power purchase agreement related to the Windstar project.

Western Wind's equity (TSX Venture: WND) closed unchanged at C$0.75. Market capitalization is C$27.5 million.

Western Wind Energy is a Coquitlam, B.C.-based operator of wind power generation facilities.

Pluristem to raise $1.33 million

Pluristem Therapeutics is planning to raise $1.33 million via a registered direct offering of stock and warrants, according to a press release.

Under the terms of the deal, Pluristem will issue 888,407 shares at $1.50 per share. The company will also give investors five-year warrants equal to an additional 488,624 shares. The warrants are exercisable at $1.96.

Pluristem said that the offering includes two institutional investors, with a health care fund being the majority investor.

"We will use these funds to strengthen our balance sheet while initiating our clinical trials in the USA and Europe for our PLX-PAD product," said Zami Aberman, Pluristem's president and chief executive officer, in the release. "PLX-PAD is intended to improve the quality of life of millions of people suffering from peripheral artery disease."

Settlement is expected by May 11.

Pluristem's shares (Nasdaq: PSTI) fell $0.1499, or 9.14%, $1.4901. Market capitalization is $18.9 million.

Pluristem Therapeutics is a Haifa, Israel-based developer of stem cell technology.

GoldSpring to issue converts

Mineral exploration company GoldSpring will sell convertible promissory notes in its effort to raise $2 million.

The deal, which priced May 1, will be spread out over four months. The notes are convertible into common stock at $0.0125 per share, a 14% premium. Investors will also receive 50% warrant coverage, with the warrants exercisable at $0.02 for four years.

"This financing provides GoldSpring with additional working capital to advance our Comstock mining project in Nevada," said Rob Faber, GoldSpring's CEO, in a press release. "We continue to be pleased with our progress and look forward to further defining assets and increase shareholder value."

GoldSpring's equity (OTCBB: GSPG) gained $0.0002, or 1.50%, to finish at $0.0135. Market capitalization is $46.4 million.

Goldspring is based in Gold Hill, Nev.

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