A cobalt takeover agreement sparked a Canadian battery metals stock Tuesday. Here’s some small stocks making big moves on Tuesday, June 18, 2019 (as of 4 pm EST):
Cobalt 27 Capital Corp. (TSXV:KBLT), a battery metals stock, surged 18% to $4.08 on Tuesday after announcing that it has agreed to be acquired by Pala Investments Limited in a stock-and-cash transaction valued at C$5.75 per common share, or a total consideration of approximately C$501 million. The stock to be received will be in a newly-listed company to be named Nickel 28 Capital Corp.
As well, shares of EastWest Bioscience Inc. (TSXV:EAST) gained 17% to $0.07 as the hemp and CBD company said it has signed a distributor agreement with New Zealand Hemp Brokers, a wholesaler and New Zealand’s only specialist Hemp Broker with reach into important key markets in New Zealand, Australia, and Asia. EastWest will begin shipping Earth’s Menu, Natural Pet Science, Chanvre Hemp and Natural Advancement products within the next two months with plans to ship CBD products from the United States.
Fortress Global Enterprises Inc. (TSX:FGE), meanwhile, reported that it has been granted a multi-year moratorium on upcoming principal and interest payments by Investissement Québec under IQ’s outstanding loan. Fortress Global Enterprises stock moved up 16% to $0.44 following the announcement.
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
To read our full disclosure, please click on the button below:
The Content contained on this page (including any facts, views, opinions, recommendations, description of, or references to, products or securities) made available by SmallCapPower/Ubika Research is for information purposes only and is not tailored to the needs or circumstances of any particular person. Any mention of a particular security is merely a general discussion of the merits and risks associated there with and is not to be used or construed as an offer to sell, a solicitation of an offer to buy, or an endorsement, recommendation, or sponsorship of any entity or security by SmallCapPower/Ubika Research. The Reader should apply his/her own judgment in making any use of any Content, including, without limitation, the use of any information contained therein as the basis for any conclusions. The Reader bears responsibility for his/her own investment research and decisions. Before making any investment decision, it is strongly recommended that you seek outside advice from a qualified investment advisor. SmallCapPower/Ubika Research does not provide or guarantee any financial, legal, tax, or accounting advice or advice regarding the suitability, profitability, or potential value of any particular investment, security, or information source. Ubika and/or its affiliates and/or their respective officers, directors or employees may from time to time acquire, hold or sell securities and/or commodities and/or commodity futures contracts in certain underlying companies mentioned in this site and which may also be clients of Ubika’s affiliates. In such instances, Ubika and/or its affiliates and/or their respective officers, directors or employees will use all reasonable efforts to avoid engaging in activities that would lead to conflicts of interest and Ubika and/or its affiliates will use all reasonable efforts to comply with conflicts of interest disclosures and regulations to minimize the conflict.