DATA Communications Management Corp. (TSX: DCM), a communications stock, moved up after announcing the acquisitions of Eclipse Colour & Imaging and Thistle Printing
Sean Mason | February 1, 2017 | SmallCapPower
Acquisitions and cost savings boosted a communications stock Wednesday. Here’s some small stocks making big moves on Wednesday, February 1, 2017 (as of 4 pm EST):
Communications stock DATA Communications Management Corp. (TSX: DCM) jumped 10% to $2.26 on Wednesday after announcing the acquisition of Eclipse Colour & Imaging Corp. as well as Thistle Printing Limited. The Company also said it has realigned its operations, which will result in an estimated cost savings of $2.4 million in 2017.
As well, units of Noranda Income Fund (TSX: NIF.UN) sank 30% to $1.66 after the electrolytic zinc processing facility and ancillary assets owner said it will suspend future monthly distributions to unitholders following its previously-declared January distribution that will be paid on February 27, 2017.
First Global Data Limited (TSXV: FGD), meanwhile, reported that it has entered into a Memorandum of Understanding to deploy its mobile payment services in Bangladesh with strategic partner Aamra Payment Solutions, a division of Aamra Group. First Global Data stock moved up 7% to $0.44 following the announcement.
In addition, shares of Aurion Resources Ltd. (TSXV: AU) surged 86% to $1.10 as the gold explorer said it has discovered what it calls “new, bonanza grade gold mineralization” on its 100% owned Risti Project in Finland.
Finally, MetalCorp Limited (TSXV: MTC) shares rose 50% to $0.045 after the junior explorer announced that it has signed an agreement granting Golden Peak Minerals Inc. an option to earn a 100% interest in 32 mineral exploration claims west of the White River near Marathon, Ontario. To earn a 100% interest, Golden Peak must pay C$340,000, incur C$1,800,000 of exploration expenditures on the property and issue 2,250,000 shares to MetalCorp over a three-year period.
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