Wednesday, July 30, 2014

Oreninc Index Falls During Holiday-Shortened Week

Wednesday, September 11th, 2013

Oreninc Index Update: September 5, 2013

 

 

The Oreninc Index fell for the holiday-shortened week ending September 5, 2013.  Total dollars announced fell to $36.87m, with $13.5m of that being raised on six brokered deals. Total deals fell to 27, which is likely a product of the Labour Day holiday in both Canada and the United States.  While the Index is volatile, we do expect it to trend upwards as we move deeper into Fall.

Summary:

·         Total deals announced dropped to 27, a five-week low.

·         Six brokered deals were announced for $13.5m, a three-week low.

·         One bought deal was announced for $2.5m, a one-week low.

·         Dollars announced fell to $36.87m, a five-week low.

·         Average deal size fell to $1.42m, a three-week low.

Major Financing Openings:

·         Global Hunter Corp. (TSX-V:BOB) opened a $9 million offering on a best efforts basis. Each unit includes 1 warrant that expires in 24 months.

·         Veris Gold Corp. (TSX:VG) opened an $8 million offering underwritten by a syndicate led by Secutor Capital Management on a best efforts basis. Each unit includes a 1/2 warrant that expires in 36 months.

·         Petrichor Energy Inc. (TSX-V:PTP) opened a $3 million offering on a best efforts basis. Each unit includes 1 warrant that expires in 24 months.

·         Kaminak Gold Corp. (TSX-V:KAM) opened a $2.5 million offering underwritten by a syndicate led by Raymond James Ltd. on a bought deal basis. The deal is expected to close on or about September 24, 2013.

Major Financing Closings:

·         Tamarack Valley Energy Ltd. (TSX-V:TVE) closed a $25.01 million offering underwritten by a syndicate led by Dundee Capital Markets on a bought deal basis. The deal was expected to close on or about September 15, 2013.

·         Pretium Resources Inc. (TSX:PVG) closed a $17.42 million offering underwritten by a syndicate led by Cormark Securities Inc. on a bought deal basis. The deal was expected to close on or about September 6, 2013.

·         Legend Gold Corp. (TSX-V:LGN) closed a $6.3 million offering on a best efforts basis.  Each unit includes 1 warrant that expires in 60 months.

·         NexGen Energy Ltd. (TSX-V:NXE) closed a $5 million offering on a best efforts basis. The deal was expected to close on or about August 19, 2013.

 

Author: Eli Fabens

 

Original Link: http://oreninc.com/orenthink/entry/oreninc-index-update-september-5-2013

 

Oreninc also publishes the Oreninc Deal Log, a daily list of all financing activity in the TSX resource sectors. Visit http://oreninc.com to see which companies and sectors to watch. Oreninc also writes custom reports for companies on effective capital raising strategies to help companies maintain long-term shareholder value.

Disclaimer: The views presented in Oreninc’s blog reflect the opinions of the Oreninc Team only. We use the publicly available data we collect for the ODL to discuss greater market and financing issues. See Terms.

 

 

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