A joint development agreement involving Nestlé caused a Canadian biotech stock to soar Friday. Here’s some small stocks making big moves on Friday, January 24, 2020 (as of 4 pm EST):
Burcon NutraScience Corporation (TSX:BU), a Canadian biotech stock, powered 35% higher to $1.88 on Friday after announcing that Burcon, Nestlé and Merit Functional Foods Corporation have entered into a joint development agreement to tailor Burcon and Merit’s plant-based proteins for use in Nestlé food and beverage applications.
As well, shares of Strongco Corporation (TSX:SQP) soared 72% to $3.10 as the multiline mobile equipment dealer said it has agreed to be acquired by Nors, S.A. for C$3.15 per share in cash.
Rokmaster Resources Corp. (TSXV:RKR), meanwhile, reported that it is increasing the size of its proposed non-brokered private placement to up to 11,666,667 units for gross proceeds of up to $700,000. Rokmaster Resources stock moved up 33% to $0.10 following the announcement.
Finally, Aphria Inc. (TSX:APHA) shares eased 9% to $6.93 after the Canadian cannabis company announced that it will receive a $100 million strategic investment from an institutional investor at a price of C$7.12 per unit.
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.
Burcon NutraScience Corporation (TSX:BU), a Canadian biotech stock, powered 35% higher to $1.88 on Friday after announcing that Burcon, Nestlé and Merit Functional Foods Corporation have entered into a joint development agreement to tailor Burcon and Merit’s plant-based proteins for use in Nestlé food and beverage applications.
, to soar on Friday.){kind=link}