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Oreninc Index Climbs to Two-Week High

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Oreninc Index Climbs to Two-Week High

 

 

 

 

 

The Oreninc Index climbed to a two-week high and the second highest in five weeks for the week ending June 6, 2013. The index jumped slightly following the two holiday-shortened weeks; however, the five week moving average fell for the second straight week. One additional positive note was the increase in brokered offerings, the most since mid-April.

 

 

 

 

Summary:

 

  • Total deals announced jumped to 36, a 16-week high.
  • Five brokered deals were announced for $35 million dollars, a six-week high.
  • One bought deal was announced for $5 million dollars.
  • Total dollars announced climbed to $89 million, a five-week low.
  • Average deal increased to $7.1 million, a two-week high.

 

 

Major Financing Openings:

 

  • Pine Cliff Energy Ltd. (TSX-V:PNE) opened a $25 million offering underwritten by a syndicate led by Paradigm Capital Inc. on a best efforts basis. The deal is expected to close on or about June 19, 2013.
  • Crocotta Energy Inc. (TSX:CTA) opened a $22 million offering on a best efforts basis.
  • Greenfields Petroleum (TSX-V:GNF) opened a $10.2 million offering on a best efforts basis. The deal is expected to close on or about June 27, 2013.
  • EastCoal Inc. (TSX-V:ECX) opened a $7.7 million offering on a best efforts basis.

 

 

 

Major Financing Closings:

 

  • St. Augustine Gold and Copper Limited (TSX:SAU) closed an $11 million offering on a best efforts basis.
  • Pacific Coal Resources Ltd. (TSX-V:PAK) closed a $4.08 million offering on a best efforts basis. Each unit includes 1 warrant that expires in 60 months.
  • UEX Corporation (TSX-V:UEX) closed a $3.18 million offering on a best efforts basis.
  • Sama Resources Inc. (TSX-V:SME) closed a $2.57 million offering on a best efforts 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 June 12, 2013

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