Small
stocks making big moves on Tuesday, June 30, 2015 (as of 4 pm EST), as reported
by Sean Mason, SmallCapPower.com
Lithium Americas Corp. (TSX:
LAC) shares climbed 16% to $0.43 on volume of more than 1.9 million shares
Tuesday after the lithium project developer with operations in Argentina said
it has agreed to be acquired by Western
Lithium USA Corporation (TSX:
WLC) in an all-stock transaction valued at approximately C$80 million. Lithium
Americas shareholders will receive 0.789 of a common share of Western Lithium for
each Lithium Americas share held.
As well,
shares of Telesta Therapeutics Inc. (TSX:
TST) rose 11% to $0.345 as the late stage therapeutics company announced
that it has submitted electronically, through its U.S. agent, a Biologics
License Application to the United States Food and Drug Administration (FDA) for
MCNA, a biologic immunotherapeutic for the treatment of high-risk
non-muscle invasive bladder cancer patients who have failed first-line BCG
therapy. Telesta added that it received a waiver from the FDA, exempting
Telesta from the payment of the US$2.3 million BLA application fee.
Laurion Mineral Exploration Inc. (TSXV:
LME), meanwhile, reported that it has entered into a subscription agreement
for a non-brokered private placement of common shares of the company in an
aggregate amount of up to C$6.0 million with a Dallas, Texas based oil and gas
private equity group, through its investment vehicle, VARA Minerals LP. Laurion
is developing its Ishkoday gold and base metals discovery project in northern
Ontario. Its stock moved up as much as 67% following the announcement.
Finally,
North Country Gold Corp. (TSXV:
NCG) shares powered 30% higher to $0.13 after the gold project developer announced
that it has agreed to be acquired by Auryn
Resources Inc. (TSXV:
AUG) in an all-stock transaction. North Country shareholders will receive
one Auryn share for every 10 North Country common shares held. The acquisition
will give Auryn a 100% interest in the Committee Bay gold project located in
Nunavut.
