Sean Mason | November 16, 2015 |
SmallCapPower
More
favourable financing terms boosted a social media play Monday, while uncertainty
weighed on an energy junior. Here’s some small stocks making big moves on Monday,
November 16, 2015 (as of 4 pm EST):
Keek Inc. (TSXV:
KEK) shares surged 30% to $0.56 on volume of more than 2.7 million
shares Monday after the video social network with more than 75 million
registered users announced that Riavera Corporation has completed its
acquisition of $3 million principal amount of 12% secured promissory notes issued
by Keek on November 5, 2014. The Notes have been amended to extend its maturity
date to March 1, 2017, and to reduce the interest rate from 12% per annum to 7%
per annum. In addition, the Notes (both principal and accrued interest) will be
convertible into common shares of Keek at the option of Riavera at any time before
maturity.
For
more technology stock investing ideas please see the Ubika Technology 20 reports
>>
As well, shares
of Niko Resources Ltd. (TSX:
NKO) slipped 9% to $0.10 as the international oil and gas producer/explorer
said the previously-disclosed waiver of certain financial covenants and
undertakings under the facilities agreement (as amended) with the institutional
lenders of its US$340 million senior term loan facilities and a related
forbearance agreement expired on November 15, 2015, and the Company is in
negotiations with its senior lenders to extend the forbearance period.
Callinex Mines Inc. (TSXV:
CNX), meanwhile, revealed a fully-funded 2016 drilling campaign consisting
of approximately 10,000 metres at its 100% owned Pine Bay Project located near
HudBay’s 777 mine and processing facilities in Flin Flon, Manitoba. The
Company added that the objective of the 2016 campaign is to identify additional
high-grade VMS mineralization rich in copper, zinc, gold and silver that has
potential to be associated with a large deposit. Callinex Mines stock moved up 17% to $0.35 following
the announcement.
Hi, did you know SmallCapPower accepts
blog submissions? You can contact me at sean@smallcappower.com.
