Small
stocks making big moves on Tuesday, October 21, 2014 (as of 4 pm EST), as
reported by Sean Mason, SmallCapPower.com
Donnycreek Energy Inc. (TSXV: DCK)
shares powered 37% higher to $2.60 on volume of more than 3 million shares
Tuesday after the oil and gas producer/explorer said it has agreed to merge with
Contact Exploration Inc. to form a new company called “Kicking Horse
Energy Inc.” Contact Exploration shareholders will receive 0.075 of a
common share of Kicking Horse for each Contact share held, while shareholders
of Donnycreek are entitled to 0.6 of a Kicking Horse share for every Donnycreek
share held. There will be approximately 60.6 million Kicking Horse shares outstanding
upon completion of the merger.
As well,
shares of Atlantic Power Corporation (TSX: ATP)
slipped 9% to $2.57 as the owner and operator of a fleet of power generation
assets announced that after conducting a strategic review it has concluded that
a sale or merger of the company was not in the best interests of the company or
its stakeholders at this time.
Exchange Income Corporation (TSX: EIF),
meanwhile, reported that its subsidiary, Regional One, Inc., has entered into
an agreement to acquire, over a 12 to 15-month period, 12 Bombardier CRJ700
aircraft, which will be used in a variety of revenue streams. Exchange Income stock
moved up 9% to $19.01 following the announcement.
Finally,
Spectra7 Microsystems Inc. (TSXV: SEV)
shares rose 3% to 71 cents after the consumer connectivity company said it
expects its third-quarter revenue to increase 170% year over year to approximately
$1.7 million. For more insight into Spectra7 please click here
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