Canadian Financing Bulletin

Canadian Financing Bulletin

November 23, 2010 13:53 ET

Canadian Financing Bulletin (CFB) Reports (CDN) $684m in Proposed and $1,324m Closed Financings for the Week of Nov. 15-19

Baja Mining Corp. Raises $184m in Share Offering Led by Raymond James

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 23, 2010) - In this week's report, the CFB published term sheets for 69 new proposed placements from the mining, oil/gas (termed metals and energy in the report) and technology sectors. Of those, 57 were for mining stocks and 12 for oil/gas stocks with the total value of new proposals reaching almost CDN $684m. 28 of these placements were designated 'flow through' issuances and there were no new debenture offerings. The largest new public proposal was Penn West Energy Trust (PWT-UN.TO), which launched an offering consisting of US$230m of bonds in a brokered placement.

The CFB published term sheets for 123 placements that were closed during the week. Of these, 84 were for mining stocks, 31 for oil/gas, and eight for technology stocks, with the total value of these closings being over $1,324m. 29 of these placements were designated 'flow through' issuances and two debenture placements closed. The largest public closing was by Baja Mining Corp. (BAJ.TO) which issued 167.3m shares (including 21,825,000 shares in an overallotment) priced at $1.10 for $184.1m in a placement led by Raymond James.

The CFB also tracked 17 amendments to placements and 11 overallotments, published at the end of the weekly report. To date, there have been 321 weekly reports created by CFB; backdated reports can be obtained by subscribers.

Click HERE to download this last weeks' summary.

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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 160 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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