Canadian Gaming Stock Rolls Higher on Takeover Deal

Seven Aces Limited (TSXV:ACES), a Canadian gaming stock, climbed after agreeing to be acquired for C$2.15 per share

Sean Mason | June 12, 2020 | SmallCapPower

Speculators who took a gamble on a Canadian gaming stock are set to get paid out Friday. Here’s some small stocks making big moves on Friday, June 12, 2020 (as of 4 pm EST):

Seven Aces Limited (TSXV:ACES), a Canadian gaming stock, surged 22% to $2.15 on Friday after agreeing to be acquired by an affiliate of Trive Capital Management LLC for C$2.15 per share in cash, or a total consideration of approximately C$178.6 million.

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As well, shares of PetroTal Corp. (TSXV:TAL) rose 3% to $0.195 as the oil and gas producer/developer said it has entered into an arrangement with PETROPERU S.A., in which PetroTal’s liability to Petroperu will be payable over a three-year period rather than at the point of sale of the oil.

PyroGenesis Canada Inc. (TSXV:PYR) stock, meanwhile, continued to move higher Friday, up 12% to $2.08 following a 14% gain on Thursday, after reporting that it has signed a second multi-phase torch modelling contract, aimed at evaluating the performance of PyroGenesis’ proprietary torches in an existing iron ore industrial furnace with the goal of replacing existing fossil fuel burners with PyroGenesis’ plasma torches. The contract is with another multi-billion-dollar producer of iron ore pellets.

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

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