Radient Technologies Inc. (CVE:RTI), a biotech stock, shot up after announcing a Memorandum of Understanding with Aurora Cannabis Inc. (CVE:ACB)
Sean Mason | December 14, 2016 | SmallCapPower
Marijuana talk was smoking hot for one biotech stock Wednesday. Here’s some small stocks making big moves on Wednesday, December 14, 2016 (as of 4 pm EST):
Biotech stock Radient Technologies Inc. (CVE:RTI) surged 107% to $0.31 on Wednesday after announcing that it has signed a Memorandum of Understanding with Aurora Cannabis Inc. (CVE:ACB) to evaluate an exclusive partnership for the Canadian market with regard to the joint development and commercialization of superior and standardized cannabinoid extracts, which would also involve an investment of up to $2 million into Radient by means of a convertible debenture.
As well, shares of Merus Labs International Inc. (TSE:MSL) slid 21% to $1.10 as the specialty pharmaceutical company said stronger than anticipated sales in 2016 were offset by increased cost of goods and operating expenses, resulting in Adjusted EBITDA at the lower end of guidance.
Toro Oil & Gas Ltd. (CVE:TOO), meanwhile, reported that it has agreed to be acquired by Steelhead Petroleum Ltd. for $0.37 per share in cash. Toro Oil & Gas stock popped 60% to $0.36 following the announcement.
Finally, Zecotek Photonics Inc. (CVE:ZMS) shares climbed 11% to $0.295 as the developer of leading-edge photonics technologies for industrial, healthcare and scientific markets announced that it has been approached by a major European automobile manufacturer to jointly integrate a 3D display system into a head-up display (HUD) and entertainment console, based on its patented 3D auto stereoscopic display technology.
Ubika Research/SmallCapPower has received compensation from Zecotek Photonics to provide analyst research coverage. For full disclosure please visit here >>.
Hi, did you know SmallCapPower accepts blog submissions? You can contact me here
The Content contained on this page (including any facts, views, opinions, recommendations, description of, or references to, products or securities) made available by SmallCapPower/Ubika Research is for information purposes only and is not tailored to the needs or circumstances of any particular person. Any mention of a particular security is merely a general discussion of the merits and risks associated there with and is not to be used or construed as an offer to sell, a solicitation of an offer to buy, or an endorsement, recommendation, or sponsorship of any entity or security by SmallCapPower/Ubika Research. The Reader should apply his/her own judgment in making any use of any Content, including, without limitation, the use of any information contained therein as the basis for any conclusions. The Reader bears responsibility for his/her own investment research and decisions. Before making any investment decision, it is strongly recommended that you seek outside advice from a qualified investment advisor. SmallCapPower/Ubika Research does not provide or guarantee any financial, legal, tax, or accounting advice or advice regarding the suitability, profitability, or potential value of any particular investment, security, or information source. Ubika and/or its affiliates and/or their respective officers, directors or employees may from time to time acquire, hold or sell securities and/or commodities and/or commodity futures contracts in certain underlying companies mentioned in this site and which may also be clients of Ubika’s affiliates. In such instances, Ubika and/or its affiliates and/or their respective officers, directors or employees will use all reasonable efforts to avoid engaging in activities that would lead to conflicts of interest and Ubika and/or its affiliates will use all reasonable efforts to comply with conflicts of interest disclosures and regulations to minimize the conflict.