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Top 10 Financings for April 2018

Top Ten April 2018

April 2018 saw 86 deals close in the Canadian financial markets for an aggregate C$361.8 million at an average of $4.4 million. Whilst the number of deals closing was exactly the same as the 86 deals in March, the total amount raised increased a massive 80.4% from the C$200.5 million at an average of $2.7 million, almost identical figures as in February.

April saw six brokered deals close for an aggregate $53.6 million at an average of $8.9 million. This was down from the 12 brokered deals in March with funds raised falling 42.2% from an aggregate $91.1 million at an average of $8.3 million, continuing the downward streak for brokered deals since February.

Within the brokered deals, just five bought deals closed in March for an aggregate of $48.6 million deal at an average $9.7 million, compared to just two bought deals closing in March. Aggregate funds raised increased 42.1% from the $34.2 million raised in March at an average of $17.1 million.

105 deals opened in April compared to 99 in March.

The top ten deals by size closed in April totalled $256.9 million, up 148.2% from the $103.5 million in March. Lithium took top spot with Nemaska Lithium’s $99.0 million raise in a month with great variety in the top ten: gold, silver and nickel each took two spots, copper, vanadium and diamonds one each.

April saw 43 gold deals close for $129.8 million at an average of $2.4 million, up 18.4% in total value terms from the $109.6 million raised in 44 gold deals in March at an average of $2.5 million. The top ten gold deals in April totalled $95.8 million, some 70.3% of the total.

March saw 44 gold deals close for $109.6 million at an average of $2.5 million, down 52.2% in total value terms from the $229.2 million raised in 56 gold deals in February at an average of $3.4 million. The top ten gold deals in March totalled $77.0 million, representing an unusually low 26.5% of the total raised.

Battery metals accounted for $117.4 million of the funds raised in April, some 32.4% of the total, with the top ten deals accounting for $117.4 million, dominated by lithium with six raises, with cobalt, graphite and vanadium also present.

Base metals accounted for $83.8 million of the funds raised in April, some 23.2% of the total and with the top ten raises bringing in $67.7 million, with five copper deals and three zinc deals.

#1 Nemaska Lithium (TSX:NMX) entered into an investment agreement with SoftBank Group for a C$99.1 million private placement @ C$1.12. SoftBank acquired 9.9% of Nemaska. Funds will be used for the construction and commissioning of its Whabouchi mine and Shawinigan lithium plant.

#2 Orezone Gold (TSXV:ORE) closed a non-brokered private placement and raised $44.9 million @ $0.80 per share. The net proceeds will be used to advance the development of its Bomboré gold project in Burkina Faso.

#3 Trilogy Metals (TSX:TMQ) closed a bought-deal financing for US$28.7 million @ US$1.16. Proceeds will advance its Arctic project in Alaska towards feasibility and permitting and advance exploration in the Ambler mining district. South32 (ASX:S32) took 40%, Electrum Strategic Opportunities Fund took 20%, The Baupost Group took 10% and Selz Capital took 4%.

 

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