A go-private proposal likely made more than a few investors in a Canadian oil stock happy Wednesday. Here’s some small stocks making big moves on Wednesday, March 7, 2018 (as of 4 pm EST):
Cona Resources Ltd. (TSX:CONA), a Canadian oil stock, shot up 27% to $2.43 on Wednesday after announcing that it has received a proposal from Waterous Energy Fund and its affiliates to take the Company private at $2.55 per Cona common share.
As well, shares of Verde AgriTech Plc (TSX:NPK) added 5% at $0.62 as the agricultural minerals project developer said it has signed a turnkey agreement for the construction of a processing plant in the municipality of São Gotardo, Brazil. The plant is expected to start production in the second half of 2018, with output of 45 tons per hour.
Stuart Olson Inc. (TSX:SOX), meanwhile, reported that its fourth-quarter contract revenue rose 29% along with a 98% increase in adjusted EBITDA for the period. Stuart Olson stock moved up 13% to $6.88 following the announcement.
Finally, Global Gardens Group Inc. (TSXV:VGM) shares gained 27% to $0.07 after the producer of Veggemo, a non-dairy milk product line originating from vegetables, announced that its first-quarter gross sales soared 226% to $327,153.
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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Cona Resources Ltd. (TSX:CONA), a Canadian oil stock, shot up 27% to $2.43 on Wednesday after announcing that it has received a proposal from Waterous Energy Fund and its affiliates to take the Company private at $2.55 per Cona common share.
