A contract
award put a charge into a battery play Tuesday, while a dividend reduction didn’t
sit well with some. Here’s some small stocks making big moves on Tuesday, September
1, 2015 (as of 4 pm EST):
Electrovaya Inc. (TSX:
EFL) shares powered 11% higher to $0.79 on Tuesday after the manufacturer
of Lithium Ion Super Polymer batteries, battery systems, and battery-related
products for energy storage announced that its wholly-owned subsidiary,
Litarion GmbH, has signed a contract for about Euro 18.5 million (C$27.3
million) to supply Lithium Ion battery products to a German company in the
non-automotive space, of which C$4.1 million of the contract will be delivered
in 2015.
As well,
shares of Pengrowth Energy Corporation (TSX:
PGF) slipped 15% to $1.65 as the intermediate Canadian oil and natural gas producer
said its Board of Directors has slash its dividend to $0.01 per share per
quarter, as a result of the continued weakness in commodity prices.
IBC Advanced Alloys Corp. (TSXV:
IB), meanwhile, reported that Lockheed Martin has issued IBC a second
contract to produce components for the F-35 Lightning II Electro-Optical
Targeting System (EOTS). This purchase order extends production of a component
contract announced in September 2014. IBC Advanced Alloys stock moved up 37% to
$0.13 following the announcement.
Finally, Gold Canyon Resources (TSXV:
GCU) shares shot up 52% to $0.175 after the Red Lake gold project developer
said it has agreed to be acquired by First
Mining Finance Corp. (TSXV:
FF), which also agreed to purchase PC
Gold (TSXV:
PKL) at the same time. Shareholders of Gold Canyon will receive one common
share of First Mining for each Gold Canyon share held in addition to shares in
a newly formed Spin-out company, which will hold certain non-gold exploration
assets currently held by Gold Canyon. PC Gold shareholders, meanwhile, will
receive 0.2571 common shares of First Mining for each share held.
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