The Oreninc Index stumbled modestly for the week ending May 22, 2014. While it’s never good to see a dip in performance, this was an expected one given the Victoria Day holiday last week and Memorial Day in the States this week. Total dollars announced jumped to $115.2m, a two-week high. Brokered dollars were down to $15m on one deal, a nine-week low. There were no bought deals for the first time in 19 weeks. Expect next week to be at a similarly low level, given the holiday in the States and the unofficial mark of the beginning of summer.

Summary:

• Deals announced dropped to 25, a six-week low.
• One brokered deal was announced for $15m, a nine-week low.
• No bought deals were announced, a 19-week low.
• Total dollars announced jumped to $115.2m, a two-week high.
• Average deal size rose to $4.6m, an eleven-week high.

Major Financing Openings:

• Americas Petrogas Inc. (TSX-V:BOE) opened a $15 million offering underwritten by a syndicate led by Mackie Research Capital Corporation on a best efforts basis. The deal is expected to close on or about June 2, 2014.
• Ascot Resources Ltd. (TSX-V:AOT) opened a $4 million offering  on a best efforts basis. Each unit includes a 1/2 warrant that expires in 24 months.
• EMC Metals Corp. (TSX:EMC) opened a $3 million offering  on a best efforts basis.    
• Pinecrest Resources Ltd. (TSX-V:PCR) opened a $3 million offering  on a best efforts basis. Each unit includes 1 warrant that expires in 24 months.

Major Financing Closings:

• PRD Energy Inc. (TSX-V:PRD) closed a $22.74 million offering underwritten by a syndicate led by Macquarie Capital Markets Canada Ltd. on a bought deal basis.    
• RB Energy Inc. (TSX:RBI) closed a $22.03 million offering underwritten by a syndicate led by Dundee Securities Ltd. on a bought deal basis.    
• PanTerra Resource Corp. (TSX-V:PRC) closed a $20 million offering  on a best efforts basis.    
• Sunshine Oilsands Ltd. (TSX:SUO) closed a $10.96 million offering on a strategic deal basis.

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.