Canadian Financing Bulletin

Canadian Financing Bulletin

October 06, 2010 17:23 ET

Canadian Financing Bulletin (CFB) Reports (CDN) $599m in Proposed and $1,262m Closed Financings for the Week of September 27 to October 1

Baja Mining Corp Closes $885.4m in Project Loan Led by Export-Import Bank (US)

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 6, 2010) - In this week's report, the CFB published term sheets for 47 new proposed placements from the mining, oil/gas (termed metals and energy in the report) and technology sectors. Of those, 42 were for mining stocks, three for oil/gas and two for technology stocks with the total value of new proposals reached over $599m. Nine of these placements were designated 'flow through' issuances and there were two new debenture offerings. The largest new public proposal was by Platinum Group Metals Ltd. (PTM.TO), which launched a share offering consisting of 49m shares priced at $2.05 in a placement led by a Canadian chartered financial institution.

The CFB published term sheets for 73 placements that were closed during the week. Of these, 54 were for mining stocks, 14 for oil/gas, and five for technology stocks, with the total value of these closings being almost $1,262m. 13 of these placements were designated 'flow through' issuances and two debentures closed. The largest public closing was by Extorre Gold Mines Ltd. (XG.TO) which issued 9.1m shares (including a 2.3m share overallotment) priced at $4.45 for gross proceeds of $40.5m in a placement led by Canaccord Genuity.

The CFB also tracked 22 amendments to placements, one cancellation, and three overallotments, published at the end of the weekly report. To date, there have been 314 weekly reports created by CFB; backdated reports can be obtained by subscribers.

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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 154 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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