Canadian Energy Stock Surges on Takeover Deal

Painted Pony Energy Ltd. (TSX:PONY), a Canadian energy stock, jumped after agreeing to be acquired by Canadian Natural Resources

Sean Mason | August 10, 2020 | SmallCapPower

A Canadian energy stock powered higher Monday following an acquisition agreement with Canadian Natural Resources. Here’s some small stocks making big moves on Monday, August 10, 2020 (as of 4 pm EST):

Painted Pony Energy Ltd. (TSX:PONY), a Canadian energy stock, climbed 15% to $0.68 on Monday after announcing that it has agreed to be acquired by Canadian Natural Resources Limited for $0.69 per share in cash.

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As well, shares of PetroTal Corp. (TSXV:TAL) slid 13% to $0.21 as the oil and gas producer/developer said it has shut down the Bretana Oil Field in Peru as a preemptive measure due to civil unrest outside the oil field camp.

GreenPower Motor Company Inc. (TSXV:GPV), meanwhile, reported that it has completed the first EV Star CarGo+ delivery box truck in collaboration with Marathon Truck Body of Santa Clarita, California. GreenPower Motor stock moved up 8% to $1.59 following the announcement.

Finally, Nano One Materials Corp. (TSXV:NNO) shares gained 18% to $3.50 after the provider of lithium ion battery cathode material technology announced that it has entered into a Joint Development Agreement with a multi-billion-dollar Asian cathode material producer.

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Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.

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