Canadian Financing Bulletin

Canadian Financing Bulletin

March 14, 2011 15:05 ET

Canadian Financing Bulletin (CFB) Reports CDN $1,273.7m in Proposed and $1,199.3m Closed Financings for the Week of March 07-11

Progress Energy Resources Corp. Raises $400.2m in a Share and Debenture Offering Led by BMO Capital Markets

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 14, 2011) - In this week's report, the CFB published term sheets for 54 new proposed placements from the mining, oil/gas (termed metals and energy in the report) and technology sectors. Of those, 43 were for mining stocks, 10 for oil/gas stocks, and one for technology stocks with the total value of new proposals reaching almost $1,274m. 12 of these placements were designated a 'flow through' issuance and there were no new debenture offerings. The largest new public proposal was by Celtic Exploration Ltd (CLT.TO), which launched an offering consisting of 5m shares priced at $20.30 for proceeds of $101.5m in a placement led by FirstEnergy Capital.

The CFB published term sheets for 87 placements that were closed during the week. Of these, 55 were for mining stocks, 25 for oil/gas, and seven for technology stocks, with the total value of these closings being over $1,199m. 14 of these placements were designated 'flow through' issuances and four new debenture placements closed. The largest public closing was by Wild Stream Exploration Inc (WSX.V) which issued 7.7m shares (including a 700,000 share overallotment) at a price of $10.85 for gross proceeds of $83.5m in a placement led by Peters & Co.

The CFB also tracked seven amendments to placements, two cancellations and 13 overallotments, published at the end of the weekly report. To date, there have been 337 weekly reports created by CFB; backdated reports can be obtained by subscribers.

Click here to view CFB for the week of March 7 to March 11, 2011

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Since CFB began offering its weekly report over five years ago, it has developed other more wide reaching reports that have now been published. Our quarterly and year-in-review reports provide charts, graphs and other comparative tables that exhibit sophisticated capital market intelligence. The data in these reports has been read by thousands of executives, investment advisors, fund managers, and investors from around the world. CFB has also recently begun offering specialized monthly reports, focusing on individual segments within the sectors CFB covers (i.e., gold, uranium, oil, etc.) To date, there have been 162 reports created by CFB; several of these reports are currently posted on the CFB website.

As one can see, CFB offers an important perspective into Canadian capital markets. These markets play a crucial role in the financing of companies active worldwide in various business sectors, specifically for natural resources exploration and development. Canada maintains a leadership role due to a number of factors:

  • A history of significant natural resources;
  • Efficient and transparent capital markets;
  • Strong backing from the investment community; and
  • Regional clusters of the world's most innovative, organized and aggressive exploration and development personnel, in cities like Vancouver, Calgary and Toronto.

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