Atacama Pacific Gold Corporation (TSXV:ATM), a precious metals explorer, jumped after announcing that it has agreed to merge with Rio2 Limited (TSXV:RIO)
A pending merger sent shares of a precious metals explorer sharply higher Monday. Here’s some small stocks making big moves on Monday, May 14, 2018 (as of 4 pm EST):
Atacama Pacific Gold Corporation (TSXV:ATM) shares shot up 33% to $0.80 on Monday after the precious metals explorer announced that it has agreed to merge with Rio2 Limited (TSXV:RIO). Each Atacama Pacific shareholder will receive 0.6601 shares of the combined company for each Atacama Pacific common share held while each Rio2 shareholder will receive 0.6667 shares of the combined company for each Rio2 share held.
As well, shares of DHX Media Ltd. (TSX:DHX.B) slid 21% to $3.37 as the global children’s content provider said it swung to a third-quarter net loss of $8.0 million compared to net income of $7.6 million during the same period last year.
InMed Pharmaceuticals Inc. (TSX:IN), meanwhile, reported that it has filed a Patent Cooperation Treaty application for INM-085 as a cannabinoid-based topical therapy for glaucoma, which includes protection of its technology in about 150 different countries including the United States. InMed Pharmaceuticals stock moved up 6% to $1.06 following the announcement.
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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Atacama Pacific Gold Corporation (TSXV:ATM) shares shot up 33% to $0.80 on Monday after the precious metals explorer announced that it has agreed to merge with Rio2 Limited (TSXV:RIO). Each Atacama Pacific shareholder will receive 0.6601 shares of the combined company for each Atacama Pacific common share held while each Rio2 shareholder will receive 0.6667 shares of the combined company for each Rio2 share held.
