Oreninc Index Update: September 5, 2013

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Oreninc Index Falls During Holiday-Shortened Week

The Oreninc Index fell for the holiday-shortened week ending September 5, 2013.  Total dollars announced fell to $36.87m, with $13.5m of that being raised on six brokered deals. Total deals fell to 27, which is likely a product of the Labour Day holiday in both Canada and the United States.  While the index is volatile, we do expect it to trend upwards as we move deeper into Fall.

Summary:

  • Total deals announced dropped to 27, a five-week low.
  • Six brokered deals were announced for $13.5m, a three-week low.
  • One bought deal was announced for $2.5m, a one-week low.
  • Dollars announced fell to $36.87m, a five-week low.
  • Average deal size fell to $1.42m, a three-week low.

Major Financing Openings:

  • Global Hunter Corp. (TSX-V:BOB) opened a $9 million offering on a best efforts basis. Each unit includes 1 warrant that expires in 24 months.
  • Veris Gold Corp. (TSX:VG) opened an $8 million offering underwritten by a syndicate led by Secutor Capital Management on a best efforts basis. Each unit includes a 1/2 warrant that expires in 36 months.
  • Petrichor Energy Inc. (TSX-V:PTP) opened a $3 million offering on a best efforts basis. Each unit includes 1 warrant that expires in 24 months.
  • Kaminak Gold Corp. (TSX-V:KAM) opened a $2.5 million offering underwritten by a syndicate led by Raymond James Ltd. on a bought deal basis. The deal is expected to close on or about September 24, 2013.

Major Financing Closings:

  • Tamarack Valley Energy Ltd. (TSX-V:TVE) closed a $25.01 million offering underwritten by a syndicate led by Dundee Capital Markets on a bought deal basis. The deal was expected to close on or about September 15, 2013.
  • Pretium Resources Inc. (TSX:PVG) closed a $17.42 million offering underwritten by a syndicate led by Cormark Securities Inc. on a bought deal basis. The deal was expected to close on or about September 6, 2013.
  • Legend Gold Corp. (TSX-V:LGN) closed a $6.3 million offering on a best efforts basis.  Each unit includes 1 warrant that expires in 60 months.
  • NexGen Energy Ltd. (TSX-V:NXE) closed a $5 million offering on a best efforts basis. The deal was expected to close on or about August 19, 2013.

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