Canadian Healthcare Tech Stock Moves Higher on Acquisition

CloudMD Software & Services Inc. (TSXV:DOC), a Canadian healthcare tech stock, powered higher after agreeing to acquire the Canadian Medical Directory

SmallCapPower | October 21, 2020:

A positive prognosis seems possible for a Canadian healthcare tech stock Wednesday following an acquisition. Here’s some small stocks making big moves on Wednesday, October 21, 2020 (as of 4 pm EST):

CloudMD Software & Services Inc. (TSXV:DOC), a Canadian healthcare tech stock, gained 10% to $3.20 on Wednesday after agreeing to acquire the Canadian Medical Directory, Canada’s largest directory of medical professionals, in a cash-and-stock transaction valued at $1.95 million. CloudMD added that the acquisition will be immediately accretive to its top line.

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As well, shares of Nighthawk Gold Corp. (TSX:NHK) climbed 8% to $1.38 as the gold junior released assay results for four drill holes at the Colomac Gold Project in the Northwest Territories, which included 252.13 metres (150 metres true width) of 1.84 grams per tonne (g/t) gold.

Aztec Minerals Corp. (TSXV:AZT), meanwhile, reported assay results for drill holes TR20-06 to 09 as part of the ongoing Phase 1 reverse circulation program at its Tombstone project in Arizona, which included 6.18 g/t gold and 77.2 g/t silver over 15.14 meters. Aztec Minerals stock moved up 17% to $0.385 following the announcement.

Finally, PowerBand Solutions Inc. (TSXV:PBX) shares jumped 24% to $0.235 after the automotive FinTech company announced that it has agreed to partner with a global big-data and artificial intelligence provider to offer 4.5 million vehicles for sale and lease on the Company’s virtual transaction platform, DRIVRZ.

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

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