Small
stocks making big moves on Monday, November 17, 2014 (as of 4 pm EST), as
reported by Sean Mason, SmallCapPower.com
DiaMedica Inc. (TSXV: DMA)
shares plummeted 81% $0.09 on volume of more than 6.4 million shares Monday after
the development stage biopharmaceutical company reported top-line results of
its Phase IIa proof of concept clinical trial of DM199 in patients with Type 2
diabetes, adding that the treatment did not achieve the secondary
objectives of improvement in glucose control.
As well,
shares of GASFRAC Energy Services (TSX: GFS)
slid 23% to $0.475 as the well-fracturing firm said its third
quarter proved challenging from a revenue and earnings standpoint and, thus, it
is not expected to be compliant with the terms of its Revolving Credit Facility
at December 31, 2014.
Electrovaya Inc. (TSX: EFL),
meanwhile, announced that it plans to acquire the assets of a “state-of-the-art”
manufacturing plant with capacity of about 0.5 Gigawatt hours (GWh) of lithium
ion electrodes and other products. Electrovaya stock popped 28% to $1.10 following the announcement.
Finally, Virginia Mines Inc. (TSX: VGQ)
shares shot up 36% to $13.66 after the gold explorer said it has agreed to be
acquired by Osisko Gold Royalties Ltd. in an all-stock transaction valued at
approximately $479 million.
