Oreninc Index Update: June 6, 2013
Oreninc Index Climbs to Two-Week High
The Oreninc Index climbed to a two-week high and the second highest in five weeks for the week ending June 6, 2013. The Index jumped slightly following the two holiday-shortened weeks; however, the five week moving average fell for the second straight week. One additional positive note was the increase in brokered offerings, the most since mid-April.
Summary:
- Total deals announced jumped to 36, a 16-week high.
- Five brokered deals were announced for $35 million dollars, a six-week high.
- One bought deal was announced for $5 million dollars.
- Total dollars announced climbed to $89 million, a five-week low.
- Average deal increased to $2.4 million, a three-week high.
Major Financing Openings:
- Pine Cliff Energy Ltd. (TSX-V:PNE) opened a $25 million offering underwritten by a syndicate led by Paradigm Capital Inc. on a best efforts basis. The deal is expected to close on or about June 19, 2013.
- Crocotta Energy Inc. (TSX:CTA) opened a $22 million offering on a best efforts basis.
- Greenfields Petroleum (TSX-V:GNF) opened a $10.2 million offering on a best efforts basis. The deal is expected to close on or about June 27, 2013.
- EastCoal Inc. (TSX-V:ECX) opened a $7.7 million offering on a best efforts basis.
Major Financing Closings:
- St. Augustine Gold and Copper Limited (TSX:SAU) closed an $11 million offering on a best efforts basis.
- Pacific Coal Resources Ltd. (TSX-V:PAK) closed a $4.08 million offering on a best efforts basis. Each unit includes 1 warrant that expires in 60 months.
- UEX Corporation (TSX-V:UEX) closed a $3.18 million offering on a best efforts basis.
- Sama Resources Inc. (TSX-V:SME) closed a $2.57 million offering on a best efforts basis.
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