Cobalt Explorer Climbs on Acquisition Announcement

Cobalt Power Group Inc. (TSXV:CPO), a cobalt explorer, jumped after announcing the acquisition of Western Cobalt Corp.

Sean Mason | April 30, 2018 | SmallCapPower

More consolidation in the cobalt patch powered shares of a cobalt explorer Monday. Here’s some small stocks making big moves Monday, April 30, 2018 (as of 4 pm EST):

Cobalt Power Group Inc. (TSXV:CPO) shares rose 10% to $0.215 on Monday after the cobalt explorer announced the acquisition of Western Cobalt Corp., a privately-held mineral exploration company that holds nine mineral claims in the eastern Athabasca basin of Saskatchewan. Western Cobalt’s claims are contiguous with UEX Corporation’s West Bear Cobalt-Nickel Project.

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As well, shares of Katanga Mining Limited (TSX:KAT) slipped 21% to $0.78 as the cobalt miner said Ventora Development Sasu, a company affiliated with Dan Gertler, has served in the Democratic Republic of the Congo a freezing order against Kamoto Copper Company, Katanga’s 75% operating subsidiary, for damages in the amount of US$2.28 billion.

ImmunoPrecise Antibodies Ltd. (TSXV:IPA) stock, meanwhile, moved up 13% to $0.98 following a 13% gain on Friday after the Company reported the opening of its new, full-service B-cell facility offering B-cell screening, sorting and sequencing on a broad range of therapeutically-relevant protein families including GPCRs and other multi-membrane spanning proteins, which ImmunoPrecise says will greatly increases the profit margin of its services.

Finally, Village Farms International, Inc. (TSX:VFF) shares added 8% at $5.10 after the greenhouse grower announced that Pure Sunfarms Corp., the Company’s 50/50 joint venture with Emerald Health Therapeutics, has entered into a supply agreement in which Emerald Health will purchase 40% of Pure Sunfarms’ production in 2018 and 2019.

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

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