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Oreninc – Top 10 Financings of October 2017

 

 

 

 

 

October 2017 saw 100 deals close in the Canadian financial markets for an aggregate C$455.0 million at an average of $4.6 million, up 56.4% in total dollar terms over September when 82 financings closed for $290.9 million at an average of $3.5 million.

 

 

October saw 53 gold deals close for $222.5 million at an average of $4.8 million, down 5.2% in total value terms from the $234.6 million raised in 59 gold deals in September at an average of $4.0 million. The top ten gold deals in October totalled $258.5 million, some 43.2% of the total.

 

 

The top ten deals by size in October totalled $316.4 million, up 60% from the $197.9 million that the top ten represented in September.

 

 

Gold companies took just one of the top seven spots, with potash, lithium, oil and base metals performing strongly.

 

 

#1 Encanto Potash      $100.0 million

 

 

Encanto Potash (TSXV:EPO) secured a $100 million funding facility over three years with GEM Investments America and GEM Global Yield. Shares will be issued at 90% of the market price. The proceeds will be used to commence the engineering and design phase of a mine at Muskowekwan in Saskatchewan, Canada in anticipation of a shovel-ready construction date of September 2019.

 

 

#2 Osisko Mining       $92.4 million

 

 

Osisko Mining (TSX:OSK) completed a bought deal brokered private placement of 8.5 million shares @ $4.20 for aggregate gross proceeds of $57.4 million, and 8.3 million @ $4.20 for aggregate gross proceeds of $35.0 million led by Canaccord Genuity on behalf of a syndicate of underwriters. The gross proceeds will be used to fund Canadian exploration expenses.

 

 

#3 Questerre Energy   $31.1 million

 

 

Questerre Energy (TSX:QEC) closed an oversubscribed private placement @ $0.89 for gross of $31.1 million. The funds will allow the company to participate in the development of Kakwa natural gas project in Alberta, Canada and its St Lawrence Lowlands project in Quebec.

 

Posted November 23, 2017

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