Canadian FinTech Stock Soars on Takeover Deal

VersaPay Corporation (TSXV:VPY), a Canadian FinTech stock, powered higher after agreeing to be acquired by Great Hill Partners

Sean Mason | December 13, 2019 | SmallCapPower

A private equity acquisition was great news for investors in a Canadian FinTech stock Friday. Here’s some small stocks making big moves on Friday, December 13, 2019 (as of 4 pm EST):

VersaPay Corporation (TSXV:VPY), a Canadian FinTech stock, surged 45% to $2.66 on Friday after announcing that it has agreed to be acquired by private equity firm Great Hill Partners for C$2.70 per share in cash, or a total consideration approximately C$126 million.

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As well, shares of Valeura Energy Inc. (TSX:VLE) plunged 54% to $0.48 as the natural gas producer revealed production test results for the Devepinar-1 well in Turkey, in which the well produced at an average rate of 1,106 mcf/d for approximately 20 days. The Company added, though, that it continues to see the best flow rates at the deepest intervals in the play.

ENTREC Corporation (TSX:ENT), meanwhile, reported that it has signed a definitive agreement to sell its Canadian crane business and assets to Sterling Crane, a Berkshire Hathaway company, for a total consideration of $21.2 million in cash less certain holdback amounts. ENTREC stock moved up 17% to $0.07 following the announcement.

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

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