A big financing letter of intent (LOI) was a breath of fresh air for investors in a cleantech stock Monday. Here’s some small stocks making big moves on Monday, June 25, 2018 (as of 4 pm EST):
Pond Technologies Holdings Inc. (TSXV:POND), a cleantech stock, powered 29% higher to $1.35 on Monday after announcing that private equity firm Inventiv Capital Management has entered into a letter of intent with Pond to provide US$100 Million in project funding. Pond Technologies has developed a platform that uses algae to absorb carbon emissions from emitters, making an algae product that can be used for animal feed, aquaculture feed, soil amendment, human nutraceuticals, and even fuel.
As well, shares of Clean TeQ Holdings Limited (TSX:CLQ) fell 12% to $0.90 as the provider of metals recovery and industrial water treatment revealed results of the Definitive Feasibility Study for the Clean TeQ Sunrise Project in Australia. Highlights included a Net Present Value (NPV) of US$1.392 billion and post-tax Internal Rate of Return (IRR) of 19.1%.
Leonovus Inc. (TSXV:LTV), meanwhile, reported what it calls a major trial of Leonovus software for a large department in the Government of Canada, which the Company expects will dramatically reduce their storage costs while ensuring the protection of public data. Leonovus stock popped 13% to $0.18 following the announcement.
Finally, Ultra Lithium Inc. (TSXV:ULI) shares gained 28% to $0.255 after the lithium junior announced that it has begun ground geophysical surveys at its Laguna Verde brine lithium property in Argentina.
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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Pond Technologies Holdings Inc. (TSXV:POND), a cleantech stock, powered 29% higher to $1.35 on Monday after announcing that private equity firm Inventiv Capital Management has entered into a letter of intent with Pond to provide US$100 Million in project funding. Pond Technologies has developed a platform that uses algae to absorb carbon emissions from emitters, making an algae product that can be used for animal feed, aquaculture feed, soil amendment, human nutraceuticals, and even fuel.
