Arcus Development Group Inc. (CVE:ADG), a gold junior, surged after announcing that Goldcorp will own a 19.9% stake in the Company
Sean Mason | October 24, 2016 | SmallCapPower
More than a few speculators were interested in a gold junior Monday after Goldcorp took a big stake. Here’s some small stocks making big moves on Monday, October 24, 2016 (as of 4 pm EST):
Arcus Development Group Inc. (CVE:ADG) shares jumped 57% to $0.11 on Monday after the gold junior announced concurrent non-brokered flow-through and non-flow-through private placements at prices of $0.10 per unit and $0.077 per unit, respectively, after which Goldcorp will own about 19.9% of the issued and outstanding shares of Arcus.
As well, shares of Quantum International Income Corp. (CVE:QIC) slid 21% to $0.095 after the Company said it has closed its previously-announced acquisition of Lucky Bucks, LLC, an operator of electronic gaming machines in the Georgia market. An affiliate of Trive Capital will provide a US$11 million first lien senior secured loan to fund the US$13.5 million acquisition.
Canopy Growth Corporation (TSE:CGC), meanwhile, reported that its wholly-owned subsidiary, Tweed Farms Inc., has received its license to sell dried cannabis products. The Tweed Farms license capacity has also been amended and the greenhouse facility is now licensed to produce and sell 6,000kg of dried cannabis, valid through January 13, 2017. Canopy Growth stock eased 5% to $6.47 following the announcement.
Finally, Uniserve Communications Corporation (CVE:USS) shares powered 100% higher to $0.09 after the provider of voice and data services over multiple IP networks announced that it has entered into a contract to provide extensive B2B technology and IT Solutions to a major international institution. The contract represents the largest single order in Uniserve’s history, amounting to added revenue of about $1 million.
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