Small
stocks making big moves on Tuesday, February 17, 2015 (as of 4 pm EST), as
reported by Sean Mason, SmallCapPower.com
Oncolytics Biotech Inc. (TSX: ONC)
shares shot up 41% to $0.89 on Tuesday after the clinical-stage biotechnology
company announced that the U.S. Food and Drug Administration (FDA) has granted
Orphan Drug Designation for its lead product candidate, REOLYSIN, for the
treatment of pancreatic cancer.
As well, shares of Newstrike Capital Inc. (TSXV: NES)
rose 4% to $1 as the Mexico-focused gold project developer said it has agreed
to be acquired by Timmins Gold Corp.
(TSX: TMM)
in a stock and cash transaction valued at about $140 million. Newstrike
shareholders will receive 0.9 of a Timmins Gold common share and C$0.0001 in
cash for each Newstrike common share held.
Nemaska Lithium Inc. (TSXV: NMX),
meanwhile, reported that it has secured a $12.87 million technology
commercialization grant for its Phase 1 Lithium hydroxide hydromet plant from
the federally-funded Sustainable Development Technology Canada. Nemaska Lithium
stock moved up 3% to $0.20 following the announcement.
Also, shares
of Orbite Aluminae Inc. (TSX: ORT)
gained 6% to $0.29 after the Canadian cleantech company said it has been
selected to receive up to $4.5 million in non-dilutive funding from Sustainable
Development Technology Canada to be applied towards Orbite’s technology
development, demonstration and commercialization related to the processing of
red mud.
Finally, Argex Titanium Inc. (TSX: RGX)
shares climbed 18% to $0.47 as the pending titanium dioxide producer announced
that it has received completed technical due diligence reports associated with
the financing of Argex’s first industrial scale titanium dioxide (TiO2) plant
to be located in Valleyfield, Quebec. Argex and its financial sponsors consider this
stage of the Financing complete, and are now focused on the remaining steps
toward completion of the Financing.
Disclosure:
Argex Titanium has paid SmallCapPower.com and Ubika Research a fee for
coverage.
