Copper Junior Soars on Acquisition Agreement

Mason Resources Corp. (TSX:MNR), a copper junior, shot up after agreeing to be acquired by Hudbay Minerals Inc. (TSX:HBM)

Sean Mason | November 1, 2018 | SmallCapPower

Hudbay Minerals turned out to be a big fan of a copper junior and its project Thursday. Here’s some small stocks making big moves on Thursday, November 1, 2018 (as of 4 pm EST):

Mason Resources Corp. (TSX:MNR) shares surged 114% to $0.395 on Thursday after the copper junior announced that it has agreed to be acquired by Hudbay Minerals Inc. (TSX:HBM) for $0.40 per share in cash, valuing Mason Resources at $31 million.

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As well, shares of Ballard Power Systems (TSX:BLDP) fell 20% to $3.90 as the clean energy products provider said its third-quarter revenue slid 32% to US$21.6 million, due primarily to lower Heavy Duty Motive product shipments and lack of one-time revenue from China that was generated in 2017.

Tetra Bio-Pharma Inc. (TSXV:TBP), meanwhile, reported that its Tetra Natural Health division has signed a major distribution agreement with Kombucha Baby Brewing Company and its partners for the exclusive distribution of its Hemp Energy Drink in the Provinces of British Columbia, Alberta, Saskatchewan, Manitoba, and Ontario as well as California, Washington, Oregon and Hawaii. Tetra Bio-Pharma stock moved up as much as 6% following the announcement.

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

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