Blockchain Stock Rockets Higher on Acquisition LOI

Datametrex AI Limited (TSXV:DM), a Blockchain stock, climbed after entering into a binding letter of intent to acquire Ronin Blockchain Corp

Sean Mason | December 15, 2017 | SmallCapPower

Blockchain investing continued to be hot with another acquisition boosting a Blockchain stock Friday. Here’s some small stocks making big moves on Friday, December 15, 2017 (as of 4 pm EST):

Datametrex AI Limited (TSXV:DM), a Blockchain stock, surged 30% to $0.345 on Friday after announcing that it has entered into a binding letter of intent to acquire all of the outstanding shares of Ronin Blockchain Corp., a private global industrial scale Blockchain platform with specific focus in mining cryptocurrencies.

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As well, shares of Abacus Mining & Exploration Corporation (TSXV:AME) plunged 75% to $0.20 as the resource junior said the British Columbia Minister of Environment and Climate Change Strategy and Minister of Energy, Mines and Petroleum Resources have declined the issuance of an Environmental Assessment Certificate for the Ajax copper-gold project near Kamloops.

Synstream Energy Corp. (TSXV:SHM), meanwhile, reported that it has entered into a form of agreement entitled Heads of Agreement with Byte Power Pty Ltd., a corporation listed on the Australian Stock Exchange. Under this agreement, Byte Power will provide research and development services to determine an appropriate form of cryptocurrency, which may be created and developed by Byte Power for Synstream, from design conception through to Initial Coin Offering. Synstream Energy stock popped 133% to $0.21 following the announcement.

Finally, Clean TeQ Holdings Limited (TSX:CLQ) shares jumped 31% to $1.64 following its debut on the Toronto Stock Exchange Friday. Clean TeQ is the 100% owner of the Clean TeQ Sunrise Project, located in Australia, one of the largest cobalt and nickel deposits outside of Africa. Robert Friedland is Clean TeQ’s Co-Chairman.

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Disclosure: Neither the author nor any of the principals at SmallCapPower, or their family members, own shares in any of the companies mentioned above.

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