Canadian Financing Bulletin

Canadian Financing Bulletin

February 28, 2011 17:59 ET

Canadian Financing Bulletin (CFB) Reports Cdn $664.1m in Proposed and $806.0m Closed Financings for the Week of February 21-25

Legacy Oil + Gas Inc. Raises $139.9m in a Share Offering Led by GMP Securities

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 28, 2011) - In this week's report, the CFB published term sheets for 53 new proposed placements from the mining, oil/gas (termed metals and energy in the report) and technology sectors. Of those, 38 were for mining stocks, 12 for oil/gas stocks, and three for technology stocks with the total value of new proposals reaching almost $664m. Ten of these placements were designated a 'flow through' issuance and there were no new debenture offerings. The largest new public proposal was by Canaco Resources Inc. (CAN.V), which launched an offering consisting of 18.7m shares priced at $5.40 for proceeds of $101.0m in a placement led by Canaccord Securities.

The CFB published term sheets for 71 placements that were closed during the week. Of these, 56 were for mining stocks, 10 for oil/gas, and five for technology stocks, with the total value of these closings being almost $806m. 13 of these placements were designated 'flow through' issuances and three new debenture placements closed. The largest public closing was by Legacy Oil + Gas Inc. (LEG.V) which issued 9,355,000 shares (including a 1,005,000 shares in an overallotment) at a price of $14.95 for gross proceeds of $139.9m in a placement led by GMP Securities.

The CFB also tracked 11 amendments to placements and 12 overallotments, published at the end of the weekly report. To date, there have been 333 weekly reports created by CFB; backdated reports can be obtained by subscribers.

Click here to view CFB for the week of February 21 to February 25, 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 161 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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