Small
stocks making big moves on Monday, February 23, 2015 (as of 4 pm EST), as
reported by Sean Mason, SmallCapPower.com
Artek Exploration Ltd. (TSX: RTK)
shares soared 49% to $2.61 on Monday after the oil and gas producer/explorer
said it has agreed to be acquired by Kelt
Exploration Ltd. TSX: KEL)
in an all-stock transaction on the basis of 0.34 of a common share of Kelt for
each Artek share held. The transaction values Artek at approximately $307
million, or $2.76 per Artek share.
As well,
shares of Taipan Resources Inc. (TSXV: TPN)
plummeted 75% to $0.025 on volume of more than 8.3 million shares as the Africa-focused
oil exploration company provided an update on the Badada-1 well, Block-2B, onshore
Kenya, saying the well “will be plugged and abandoned as a dry hole.”
Ballard Power Systems (TSX: BLD),
meanwhile, reported that it has signed two new Technology Solutions contracts,
one with Ardica Technologies and one with an unnamed global automotive OEM.
Under each contract Ballard will provide expertise in proton exchange membrane fuel
cell technology in order to advance customer programs through development
stages. Ballard stock moved up 8% to $3.28 following the announcement.
Finally, Theralase Technologies Inc. (TSXV: TLT)
shares jumped 6% to $0.54 after the super-pulsed laser technology manufacturer
said it has identified a potential mechanism of how its lead anti-cancer drug
works to destroy cancer cells and has also discovered a new application of the
lead drug that may lead to the ability to detect the presence of cancer cells.
