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Top 10 Financings for November 2017

November 2017 saw 107 deals close in the Canadian financial markets for an aggregate C$477.9 million, up 5% on the $455.0 million closed in October. The average size per closing remained at $4.6 million as it was in October, when 100 deals closed.

October saw 50 gold deals close for $285.8 million at an average of $5.3 million, up 28.4% in total value terms compared to the $222.5 million closed in 53 deals at an average of $4.8 million in November.

November saw 12 brokered deals and eight bought deals for an aggregate of $145.4 million at an average $19.3 million per bought deal.

The top ten deals by size announced in November totalled $345.9 million, up 9.32% from the $316.4 million announced in November. Gold took two of the top three spots with Solgolds (TSX:SOLG) $75.6 million raise and Dalradian Resources’ $49.9 million raise. Ecuador figured prominently too, with Lumina Gold’s (TSXV:LUM) $20 million raise in addition to Solgold’s.

Lithium claimed three of the top ten financings announced for an aggregate of $75 million between Neo Lithium (TSXV:NLC), Millennial Lithium (TSXV:ML) and Lithium X Energy (TSXV:LIX).

#1 Solgold              $75.6 million

SolGold (TSX:SOLG) opened and closed a  £45.0 million (C$75.6 million) bought deal private placement of 180.0 million @ £0.25 pence (C$0.42). The gross proceeds will be used for exploration and studies to advance its flagship Cascabel project and selective regional exploration in Ecuador.

#2 MAG Silver         $61.6 million

MAG Silver (TSX:MAG) opened and closed a non-brokered private placement offering of 4.6 million shares to existing shareholders @ US$10.47 for gross proceeds of US$48.16 million. MAG intends to use the net proceeds to fund exploration and development of the Juanicipio silver project in Mexico.

#3 Dalradian Resources        $49.9 million

Dalradian Resources (TSX:DNA) closed a private placement with Orion Mine Finance (34.0 million) and Osisko Gold Royalties (19.2 million) shares @ C$1.47 for gross proceeds of C$78.2 million). Orion now owns 9.6% and Osisko 8.9% of Dalradian.    

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Top 10 Financings for October 2017

Top 10 Financings of October 2017

October 2017 saw 100 deals close in the Canadian financial markets for an aggregate C$455.0 million at an average of $4.6 million, up 56.4% in total dollar terms over September when 82 financings closed for $290.9 million at an average of $3.5 million.

October saw 53 gold deals close for $222.5 million at an average of $4.8 million, down 5.2% in total value terms from the $234.6 million raised in 59 gold deals in September at an average of $4.0 million. The top ten gold deals in October totalled $258.5 million, some 43.2% of the total.

The top ten deals by size in October totalled $316.4 million, up 60% from the $197.9 million that the top ten represented in September.

Gold companies took just one of the top seven spots, with potash, lithium, oil and base metals performing strongly.

 

#1 Encanto Potash                 $100.0 million

Encanto Potash (TSXV:EPO) secured a $100 million funding facility over three years with GEM Investments America and GEM Global Yield. Shares will be issued at 90% of the market price. The proceeds will be used to commence the engineering and design phase of a mine at Muskowekwan in Saskatchewan, Canada in anticipation of a shovel-ready construction date of September 2019.

 

#2 Osisko Mining   $92.4 million

Osisko Mining (TSX:OSK) completed a bought deal brokered private placement of 8.5 million shares @ $4.20 for aggregate gross proceeds of $57.4 million, and 8.3 million @ $4.20 for aggregate gross proceeds of $35.0 million led by Canaccord Genuity on behalf of a syndicate of underwriters. The gross proceeds will be used to fund Canadian exploration expenses.

 

#3 Questerre Energy                $31.1 million

Questerre Energy (TSX:QEC) closed an oversubscribed private placement @ $0.89 for gross of $31.1 million. The funds will allow the company to participate in the development of Kakwa natural gas project in Alberta, Canada and its St Lawrence Lowlands project in Quebec. 

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Top 10's of Q3 2017

Top 10’s of Third Quarter 2017

The third quarter to September 30th saw 282 deals close in the Canadian financial markets for an aggregate C$958.7 million at an average of $3.4 million, down 29.9% from the second quarter to June 30th that saw $1.37 billion raised.

The third quarter saw 120 gold deals close for $502.1 million at an average of $4.2 million, down 17.1% from the $605.7 million raised in the second quarter in 193 deals, at an average of $3.1 million.

The top ten deals by size in the third quarter of 2017 totalled C$427.4, down 23.5% from the $558.7 million that the top ten accounted for in the second quarter.

Gold deal took seven of the top ten spots in the third quarter, with the biggest deal being for uranium at $65.2 million, with lithium and silver oil taking one spot each. The three top base metals deals were for zinc $28.7 million, tin $13.1 million and tin $12.8 million.

#1 NexGen Energy $65.2 million

NexGen Energy (TSX:NXE) raised $65.2 million in equity with CEF Holdings as part of a financing package totalling US$110 million that also included US$60 million in unsecured convertible debentures. The private placement saw the issuance of 24.1 million shares @ C$2.70. Proceeds from the financing are to fund the continuing exploration and development of the SW2 properties in Canada’s Athabasca Basin.

#2 McEwen Mining                  $57.3 million

McEwen Mining (TSX:MUX) closed a bought deal private placement including the exercise in full of the over-allotment of 22.0 million shares @ C$2.25 for C$50.2 million. The proceeds will be used to purchase the Black Fox Complex that is a producing underground gold mine in Timmins, Canada.

#3 Novo Resources                 $56.0 million

Novo Resources (TSXV:NVO) completed a non-brokered private placement with Kirkland Lake Gold as a new strategic investor. The financing was for 14.0 million units @ C$4.00. The net proceeds will be used for exploration and development.

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Top 10 Financings of September 2017

Top Ten's of September 2017

September 2017 saw 82 deals close in the Canadian financial markets for an aggregate C$290.9 million at an average of $3.5 million, up 48.3% over August when 102 financings closed for $196.2 million at an average of $2.0 million.

September saw 59 gold deals close for $234.6 million at an average of $4.0 million, up 130% from the $102.0 million raised in 49 gold deals in August at an average of $1.6 million. The top ten gold deals in September represented 82.7% of the total at $193.9 million.

The top ten deals by size in September totalled $197.9 million, some 31.9% of the total compared to $113.1 million in August, some 57.6% of the total.

Gold companies took six of the top ten spots, with manganese, zinc, copper and other taking one spot each.

#1 McEwen Mining                  $57.3 million

McEwen Mining (TSX:MUX) closed a bought deal private placement including the exercise in full of the over-allotment of 22.0 million shares @ C$2.25 for C$50.2 million. The proceeds will be used to purchase the Black Fox Complex that is a producing underground gold mine in Timmins, Canada.

#2 Novo Resources                 $56.0 million

Novo Resources (TSXV:NVO) completed a non-brokered private placement with Kirkland Lake Gold as a new strategic investor. The financing was for 14.0 million units @ C$4.00. The net proceeds will be used for exploration and development.

#3 Barkerville Gold Mines     $28.0 million

Barkerville Gold Mines (TSXV:BGM) completed a bought deal brokered private placement financing of 25.0 million flow-through shares @ $1.12 to fund the exploration and development of its Cariboo gold project in central British Columbia.

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Top 10 Financings of July 2017

July 2017 saw 138 financings close in the Canadian financial markets for C$656.1 million. 14 brokered financings closed in July for $249.1 million at an average size of $17.8 million, including ten bought deals for $186.8 million at an average size of $18.7 million.    

The top ten financings totalled $319.2 million with uranium company NexGen Energy taking top spot with $65.2 million. Gold companies took five of the top ten spots, with lithium, zinc and diversified one spot each.

#1 NexGen Energy $65.2 million

NexGen Energy (TSX: NXE) closed a US$50 million (C$65.2 million) stock placement with CEF Holdings and affiliates by selling 24.1 million shares @ C$2.70 to fund continuing exploration and development of its properties in the Athabasca Basin in Saskatchewan, Canada. The raise was part of a US$110 million financing with CEF Holdings and affiliates that in addition to the NexGen stock included US$60 million in unsecured convertible debentures. The debentures carry a 7.5% coupon over a 5-year term and are convertible into stock.

#2 Alio Gold $50.4 million

Alio Gold (TSX: ALO) raised $50.4 million to advance its Ana Paula gold project in Guerrero, Mexico via a bought deal underwritten by a syndicate led by Cormark Securities and Clarus Securities who purchased 8 million units @ $6.25. Each unit consisted of one share and half a warrant exercisable @ $8.00 for one year. The underwriters exercised their over-allotment option. Alio Gold was formerly Timmins Gold.

#3 New Pacific Holdings $44.1 million

New Pacific Holdings (TSXV: NUAG) closed financings for $44.1 million by selling 43.5 million subscription receipts @ US$0.80 for gross proceeds of US$34.8 million to pay the purchase price of the acquisition of Empresa Minera Alcira in Bolivia. Each subscription receipt is exercisable into one share. A subsidiary of Silvercorp Metals purchased 25 million subscription receipts. New Pacific subsequently raised an additional US$1.0 million by selling 1.3 million shares @ US$0.80. Alcira has seven silver-polymetallic mineral properties, the most significant of which is the Silver Sand property in Potosí department, which was drilled between 2012 and 2015.

 

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