The Oreninc Index crawled back up for the week ending April 2, 2015. Total dollars announced rose to $38.3m on 23 deals, three and five week highs respectively. Two brokered financings were announced for $17.4m, one of which has yet to announce an offer size, a two-week high. One bought deal was announced for $17.4m, a two-week high.
The only major deal from the week was Israel Chemicals Ltd. (NYSE:ICL) agreeing to purchase Allana Potash Corp. (TSX:AAA) for $137m CDN. Commodities had a roller coaster of a week, with iron ore dropping 15% in just one week and gold moving up and down before settling right around $1,200. Oil was down slightly on news that a framework of an Iranian nuclear deal had been achieved, though it did not drop as much as analysts had been expecting.
While not great, seeing an improvement over last week’s horrendous performance is a positive, even if the five-week moving average plunged further than last week’s multi-year low.
Major Financing Openings:
Major Financing Closings:
Oreninc also publishes the Oreninc Deal Log, a daily list of all financing activity in the TSX, TSX-V and CSE 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.
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