ORENINC INDEX – February 20th, 2023

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ORENINC INDEX – Monday, February 20th, 2023

North America’s leading junior mining finance data provider

Last Week: 79.18

This week: 45.09

Summary:

  • The number of financings increased to 25.
  • Five brokered financings were announced this week for $21m, a 6-week low.
  • One bought deal financing was announced this week for $5m, a 6-week low.
  • Total dollars lessened to $41m, a 6-week low.
  • The average offer lessened to $1.7m, a 6-week low.

Major Financing Openings:

  • Bunker Hill Mining Corp. (CSE:BNKR) opened a $9 million offering underwritten by a syndicate led by Echelon Wealth Partners Inc. on a best-efforts basis. Each unit includes 1 warrant that expires in 36 months. The deal is expected to close on or about March 7, 2023.
  • Callinex Mines Inc. (TSX-V:CNX) opened a $7 million offering underwritten by a syndicate led by Research Capital Corp. on a best-efforts basis. Each unit includes a 1/2 warrant that expires in 24 months. The deal is expected to close on or about March 6, 2023.
  • Brunswick Exploration Inc. (TSX-V:BRW) opened a $7 million offering underwritten by a syndicate led by Red Cloud Securities Inc. on a bought deal Each unit includes a 1/2 warrant that expires in 36 months. The deal is expected to close on or about March 9, 2023.
  • Mkango Resources Ltd. (TSX-V:MKA) opened a $5.7 million offering on a best-efforts basis. The deal is expected to close on or about February 27, 2023.

Major Financing Closings:

  • Faraday Copper Corp. (CSE:FDY) closed a $40 million offering underwritten by a syndicate led by Canaccord Genuity Corp on a bought deal basis. The deal is expected to close on or about February 14, 2023.
  • Arizona Sonoran Copper Company Inc. (TSX:ASCU) closed a $30 million offering underwritten by a syndicate led by Haywood Securities Inc. on a bought-deal basis.
  • Luminex Resources Corp. (TSX-V:LR) closed a $12.5 million offering on a best-efforts basis. Each unit includes a 1/2 warrant that expires in 24 months. The deal is expected to close on or about February 16, 2023.
  • Scottie Resources Corp. (TSX-V:SCOT) closed a $6.5 million offering underwritten by a syndicate led by Cormark Securities Inc. on a bought-deal basis. The deal is expected to close on or about February 16, 2023.

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