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Oreninc Index Remains Flat

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Oreninc Index Remains Flat

 

 

 

 

 

 

The Oreninc Index remained flat for the week ending January 30, 2014. Total dollars announced rose to $233.1m, a twelve-week high. Ten brokered deals were announced for $125.5m, five of them bought for $98.7m. Average deal size also increased to $6.5m, an eleven-week high. This is the second straight week of increased broker activity and, similar to last week, the performance of the Index may downplay the optimistic tone that the uptick in financing activity has brought. Still, caution should be had as we continue to linger well below the historical averages for this time of year.

 

                       

 

Summary:

 

  • Deals announced rose to 36, five-week high.
  • Ten brokered deals were announced for $125.5m, an eleven-week high.
  • Five bought deals were announced for $98.8m, a two-week low.
  • Total dollars announced rose to $233.1m, a twelve-week high.
  • Average deal size increased to $6.5m, an eleven-week high.

 

 

Major Financing Openings:

 

  • Oando Energy Resources Inc. (TSX:OER) opened a $55.06 million offering  on a best efforts basis. Each unit includes a 1/2 warrant that expires in 24 months.
  • True Gold Mining Inc. (TSX-V:TGM) opened a $45.03 million offering underwritten by a syndicate led by RBC Capital Markets on a bought deal basis.  Each unit includes a 1/2 warrant that expires in 6 months. The deal is expected to close on or about February 18, 2014.
  • Tamarack Valley Energy Ltd. (TSX-V:TVE) opened a $30.1 million offering underwritten by a syndicate led by Dundee Securities Ltd. on a bought deal basis. The deal is expected to close on or about February 19, 2014.
  • Lydian International Ltd. (TSX:LYD) opened a $15 million offering underwritten by a syndicate led by GMP Securities L.P. on a bought deal basis. The deal is expected to close on or about February 18, 2014.

 

 

Major Financing Closings:

 

  • Pershimco Resources Inc. (TSX-V:PRO) closed an $11.2 million offering on a strategic deal basis. Each unit includes 1 warrant that expires in 24 months.
  • Sunshine Oilsands Ltd. (TSX:SUO) closed a $10.8 million offering  on a strategic deal basis. Each unit includes a 1/2 warrant that expires in 24 months.
  • Primeline Energy Holdings Inc. (TSX-V:PEH) closed a $5.04 million offering underwritten by a syndicate led by D&D Securities on a best efforts basis. Each unit includes a 1/2 warrant that expires in 24 months.
  • Uracan Resources Ltd. (TSX-V:URC) closed a $1.65 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 February 5, 2014

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