Small
stocks making big moves on Monday, June 8, 2015 (as of 4 pm EST), as
reported by Sean Mason, SmallCapPower.com
Tribute Pharmaceuticals Canada Inc. (TSXV:
TRX) shares climbed 15% to $1.50 on volume of more than 9.4 million shares
Monday after the specialty pharmaceutical company announced that it has agreed
to be acquired by POZEN Inc. (NASDAQ:
POZN) in a transaction valued at approximately US$146 million. Tribute
investors will receive 0.1455 Aralez ordinary shares for each Tribute common
share held.
As well,
shares of Banro Corporation (TSX:
BAA) rose 8% to $0.415 as the gold miner with operations in the Democratic
Republic of the Congo said a resource update has increased Twangiza’s Proven
and Probable Reserves by 59% to 1.64 million ounces, which expands the Twangiza
mine life utilizing the existing plant to 14 years.
Simba Energy Inc. (TSXV:
SMB), meanwhile, reported that it has executed an agreement with Essel
Group Middle East, of Dubai, UAE, a subsidiary of Essel Group India, wherein
Essel Group will earn a 60% participating interest in Simba’s existing
Production Sharing Contracts in Kenya, Chad and Guinea. Simba will be carried
on all future exploration costs. Simba Energy stock moved up 50% to $0.045 on
more than 4.5 million shares traded following the announcement.
Finally, Sandvine (TSX:
SVC) shares slipped 9% to $4 after the provider of intelligent network
policy control solutions for fixed and mobile operators announced that it
expects revenue for its second quarter to be between US$28.0 million and $28.5
million. The company also said it has received an expansion order for more
than $8 million.
Disclosure: Simba Energy is a client company
of SmallCapPower/Ubika Research and has paid a fee for coverage.
