Canadian Medical Tech Stock Soars on License Agreement

Titan Medical Inc. (TSX:TMD), a Canadian medical tech stock, skyrocketed after announcing a development and license agreement with Medtronic plc

Sean Mason | June 4, 2020 | SmallCapPower

A development and license agreement powered a Canadian medical tech stock Thursday. Here’s some small stocks making big moves on Thursday, June 4, 2020 (as of 4 pm EST):

Titan Medical Inc. (TSX:TMD), a Canadian medical tech stock, surged 486% to $2.11 on Thursday after announcing a development and license agreement with Medtronic plc to further the development of robotic-assisted surgical technologies.

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As well, shares of Guyana Goldfields Inc. (TSX:GUY) jumped 16% to $1.70 as the junior gold miner said it has received a takeover offer from a foreign-based multinational mining company valued at C$1.85 per share in cash, which Guyana Goldfields’ Board has determined to be “superior” to the offer from Silvercorp Metals.

Intermap Technologies (TSX:IMP), meanwhile, reported an Amended Settlement Agreement with Pender Funds, in which all outstanding Vertex Notes totaling US$33.9 million shall be settled for US$1 million in cash. IMP also announced a 100% year-over-year increase in its first-quarter revenue to US$1.6 million. Intermap Technologies stock popped 122% to $0.355 following the announcement.

Finally, Aztec Minerals Corp. (TSXV:AZT) shares gained 9% to $0.36 after the junior explorer announced that its 2020 focus is on drilling the Tombstone silver-gold-zinc-lead-copper district in Arizona.

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

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