CRH Medical Corporation (TSX:CRH), a Canadian medical services stock, powered higher after announcing acquisitions in the United States
Sean Mason | June 8, 2020 | SmallCapPower
Two accretive acquisitions produced healthy gains for a Canadian medical services stock Monday. Here’s some small stocks making big moves on Monday, June 8, 2020 (as of 4 pm EST):
CRH Medical Corporation (TSX:CRH), a Canadian medical services stock, surged 22% to $3.77 on Monday after announcing that it has acquired 75% of a gastroenterology anesthesia practice located in the United States, with estimated annual revenue of $2.7 million that is EBITDA and cash flow accretive. In addition, the Company will own a 51% interest in Oconee River Anesthesia Associates, located in Athens, Georgia, a start-up venture with estimated annual revenue of $500,000.
As well, shares of Great Bear Resources Ltd. (TSXV:GBR) gained 10% to $11.89 as the gold junior released drill results from the ongoing exploration program at its 100% owned flagship Dixie Project in the Red Lake district of Ontario, which included 30.51 grams per tonne (g/t) gold over 12.40 metres.
Loop Insights Inc. (TSXV:MTRX), meanwhile, reported that it has been accepted into Amazon Web Services’ Partner Network, furthering the Company’s partnership with Amazon. “Loop’s visibility is going to increase exponentially with Amazon’s endorsement. As a result, we expect incredible growth in both our client and partner base. We will leverage the AWS brand and credibility, its top-tier partnership opportunities, and its huge project portfolio to accelerate Loop’s global scalability,” said Loop Insights CEO Rob Anson. Loop Insights stock popped 41% to $0.205 following the announcement.
Finally, Aztec Minerals Corp. (TSXV:AZT) shares climbed 29% to $0.45 after the junior explorer announced that data inversion and interpretation of a recently-completed NSAMT geophysical survey has identified what the Company called “strong conductive bodies” underlying its Tombstone silver-gold-copper-lead-zinc property in Arizona.
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