Canadian Tech Stock Powers Higher on Government Contract

AirBoss of America Corp. (TSX:BOS), a Canadian tech stock, shot up after announcing a contract from the U.S. Department for Health and Human Services

Sean Mason | July 27, 2020 | SmallCapPower

A multi-million dollar government contract sent a Canadian tech stock surging Monday. Here’s some small stocks making big moves on Monday, July 27, 2020 (as of 4 pm EST):

AirBoss of America Corp. (TSX:BOS), a Canadian tech stock, jumped 20% to $23.65 on Monday after announcing that AirBoss Defense Group has been awarded a contract by the U.S. Department for Health and Human Services for the manufacture and sale of 50,000 FlexAir Powered Air Purifying Respirator systems as well as three million high efficiency filters and related accessories. The contract is valued at US$121 million.

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As well, shares of Tudor Gold Corp. (TSXV:TUD) climbed 17% to $3.04 as the junior explorer released drill results from its flagship Treaty Creek property located in the Golden Triangle region of British Columbia, which included a 348 meter intercept grading 2.12 grams per tonne (g/t) gold equivalent.

Canada Nickel Company Inc. (TSXV:CNC), meanwhile, reported that it has created a wholly-owned subsidiary, NetZero Metals, to begin the research and development of a processing facility to produce zero-carbon nickel, cobalt and iron products. Canada Nickel Company stock popped 52% to $2.05 following the announcement.

Finally, Azimut Exploration Inc. (TSXV:AZM) shares slid 20% to $1.92 after the gold explorer announced assay results for 14 holes from its 100% owned Elmer Property in Quebec, which included 2.77 g/t gold over 90.20 metres.

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

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