Sean Mason | October 16, 2015 | SmallCapPower
Trading
volume flowed following an African oil agreement Friday while some speculators had
an appetite for a potash play. Here’s some small stocks making big moves on Friday,
October 16, 2015 (as of 4 pm EST):
Mart Resources, Inc. (TSX:
MMT) shares powered 37% higher to $0.26 on volume of more than 4.5 million
shares Friday after the Nigeria-focused oil and gas producer announced that it
has agreed to be acquired by Delta Oil Nigeria B.V. for C$0.35 in cash, or a
total consideration of approximately C$124.92 million.
As well,
shares of Aeterna Zentaris Inc. (TSX:
AEZ) slipped 12% to $0.075 as the specialty biopharmaceutical company said
it is proposing a consolidation of its issued and outstanding common shares at
a ratio of between 8-for-1 and 100-for-1 to avoid a potential delisting of its stock
from the NASDAQ.
Encanto Potash Corp. (TSXV:
EPO), meanwhile, reported that it has entered into a Memorandum of
Understanding with Metals and Minerals Trading Corporation of India, to define
the framework for a long-term supply arrangement for Muriate of Potash. Encanto
Potash stock moved up 25% to $0.075 following the announcement.
Finally, Avcorp Industries Inc. (TSX:
AVP) shares gained 20% to $0.06 after the designer and builder of major
airframe structures announced it has been awarded its first purchase contract
from Lockheed Martin.
Hi, did you know SmallCapPower
accepts blog submissions? You can contact me at sean@smallcappower.com.
