Company Profile
Vulcan is a junior Canadian exploration company focussed on searching for new petroleum and mineral deposits in Canada. Their objective is to discover large deposits of economic significance that will have a major impact on the value of their company.
Event
On May 21st, 2008 – the TSX Venture Exchange Daily Bulletin reported that the TSX Venture Exchange had accepted for filing documentation with respect to a Non-Brokered Private Placement announced April 18, 2008 by Vulcan Minerals.
Details of the Private Placement
Number of shares: 1,666,667 shares
Warrants: 833,334 share purchase warrants to purchase 833,334 shares
Number of Placees: 8 placees
Purchase Price: $0.60 per share
Private Placement Participants
Ficor Resourcers Inc. for 166,666 shares (family holding company controlled by Richard Hermon)
Andrew Gustajtis for 133,333 shares (Investment Banker with D&D Securities Company)
About Andrew Gustajtis
Andy Gustajtis is an Officer and Managing Director of D&D Securities Company which is a member of the IDA and the Canadian Investor Protection Fund.
About Richard Hermon (B.A., LL.B., B.C.L.)
Richard is a portfolio manager and branch manager of Trapeze Capital Corp.’s Ottawa office. Trapeze Capital Corp. (TCC) is an affiliated investment dealer and portfolio manager with Trapeze Asset Management Inc. (TAMI). All ideas and strategies are shared between TAMI and TCC in a common forum among both firms’ portfolio managers and research analysts. Richard has been with Trapeze Capital Corp. since its inception in 1998. Prior thereto, he was a portfolio manager and branch manager of Connor Clark's Ottawa office for 10 years and worked for 5 years in the investment business at brokerage operations in Ottawa and Montreal.
Trapeze Asset Management Inc. (TAMI ) is an investment counselor/portfolio management firm which manages equity/growth, income and balanced portfolios on a discretionary basis for high net worth individuals and institutions. TAMI provides its money management services primarily through individually managed accounts. The team at Trapeze have averaged annualized returns of 24.9% since inception (October 1st, 1998) in their long/short accounts and 24% over the same period in their long only accounts. I’m a huge fan of these guys and encourage everyone to visit their website (http://www.trapezeasset.com/) to read their quarterly letters (http://www.trapezeasset.com/news.html). Their most recent letter is dated May 1, 2008 and provides a comprehensive overview of the markets (and a few specific stocks).
Investment Risks
Without limitations, some of the risks include reserves and resource risk, development risks, permitting risks, off-take agreements, commodity price risks, geo-political risks, exchange rates, weather related impacts etc.
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