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Oreninc Index Bounces Back

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Oreninc Index Bounces Back

 

 

 

 

 

 

The Oreninc Index bounced back for the week ending January 16, 2014. Total dollars announced exploded to $142m, its highest level since before the holiday season. Two brokered deals were announced for $82m, one of which was bought for $70m. The financing market seems to be returning to some relative normalcy after a brutal couple of post-holiday weeks. While still at a relatively low level, this is at least a small bright spot in what has been a rough start to 2014.

 

                       

 

 

Summary:

 

  • Deals announced exploded to 34, two-week high.
  • Two brokered deals were announced for $82m, a four-week high.
  • One bought deal was announced for $72m, a four-week high.
  • Total dollars announced rose to $142.3m, a four-week high.
  • Average deal size fell to $4.2m, a two-week low.

 

 

Major Financing Openings:

 

  • Surge Energy Inc. (TSX-V:SGY) opened a $70.01 million offering underwritten by a syndicate led by Macquarie Capital Markets Canada Ltd. on a bought deal basis.
  • Passport Energy Ltd. (CNSX:PPO) opened a $20 million offering on a best efforts basis.
  • Cordoba Minerals Corp. (TSX-V:CDB) opened a $12 million offering underwritten by a syndicate led by GMP Securities L.P. on a best efforts basis. Each unit includes 1 warrant that expires in 36 months.
  • NioCorp Developments Ltd. (TSX-V:NB) opened a $10 million offering on a best efforts basis.

 

 

Major Financing Closings:

 

  • Alexander Energy Ltd. (TSX-V:ALX) closed a $77.5 million offering underwritten by a syndicate led by Peters & Co. Ltd. on a bought deal basis.
  • Terrace Energy Corp. (TSX-V:TZR) closed a $10.61 million offering underwritten by a syndicate led by Canaccord Genuity Corp. on a best efforts basis.
  • Energizer Resources Inc. (TSX:EGZ) closed a $7.34 million offering underwritten by a syndicate led by Broker 1 on a best efforts basis.  Each unit includes a 1/2 warrant that expires in 36 months.
  • Athabasca Minerals Inc. (TSX-V:ABM) closed a $5.75 million offering underwritten by a syndicate led by Primary Capital Inc. on a bought deal basis.

 

 

 

 

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.

Posted January 22, 2014

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