Small
stocks making big moves on Monday, November 24, 2014 (as of 4 pm EST), as
reported by Sean Mason, SmallCapPower.com
Trimel Pharmaceuticals Corporation (TSX: TRL)
shares shot up 22% to $0.56 on Monday after the specialty pharmaceutical
company announced the signing of an agreement by its subsidiary, Trimel
Biopharma SRL, providing an affiliate of Endo International plc with the
exclusive rights to market NATESTO in the United States and Mexico, in return
for payments of up to US$165 million based on certain regulatory and sales
milestones in addition to an upfront fee of US$25 million and a prepaid
inventory deposit of US$5 million upon closing of the deal. NATESTO is a
FDA-approved testosterone nasal gel indicated for replacement therapy in adult
males diagnosed with hypogonadism.
As well,
shares of EQ Inc. (TSX: EQ)
slid 38% to $0.075 as the social media-related tech firm revealed that it has
been advised by the Toronto Stock Exchange that as a result of the market value
of its shares for the previous 30 trading days being below $3 million, or $0.19
per share, the company is being reviewed for eligibility for continued listing
of its common shares on the TSX.
Pacific Potash Corporation (TSXV: PP),
meanwhile, said it has entered into a non-binding Memorandum of Understanding
of strategic investment with Northern International Group, a Chinese
conglomerate, in which Northern International intends to purchase $15 million worth
of Pacific Potash convertible debentures. Pacific Potash also revealed the
appointment of Dr. Charlie Cheng as the company’s new President & Chief
Operation Officer, effective immediately. Pacific Potash stock popped 100% to
$0.04 following the announcements.
In addition, shares of Pacific Safety Products Inc. (TSXV: PSP)
rose 7% to $0.165 as the manufacturer of safety products for the defense and
security market said it has received a contract with a large federal agency for
the production of ballistic vests and related products with a firm value of
C$6.78 million. The contract term is for 4 years beginning in early 2015.
Finally, Amarc Resources Ltd. (TSXV: AHR)
shares powered 25% higher to $0.10 after the junior explorer reported that it
has made what it calls “a significant copper-molybdenum-silver discovery” at
its IKE Project in British Columbia. Recent drill results included 247 metres
of 0.42% copper equivalent.
