Diamond Miner Sparkles on Acquisition

Lucara Diamond Corp. (TSE:LUC), a diamond miner, shone after announcing the acquisition of Clara Diamond Solutions

Sean Mason | February 26, 2018 | SmallCapPower

More than a few speculators gravitated towards shares of a diamond miner Monday following an acquisition announcement. Here’s some small stocks making big moves on Monday, February 26, 2018 (as of 4 pm EST):

Lucara Diamond Corp. (TSX:LUC) shares jumped 17% to $2.49 on Monday after the diamond miner announced the acquisition of Clara Diamond Solutions Corp., a company whose primary asset is a secure, digital sales platform that could transform how rough diamonds are sold, in consideration for 13.1 million Lucara shares (valued at approximately $29 million).

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As well, shares of DHX Media (TSX:DHX.B) slipped 10% to $4 as the global provider of children’s content and brands said both its CEO and CFO have decided to leave the Company.

Namibia Rare Earths Inc. (TSXV:NRE), meanwhile, reported that its Chairman, Gerald McConnell, has acquired 5.5 million shares of Namibia Rare Earths, by way of a private placement, at a price of C$0.05 per common share. Following the acquisition, Mr. McConnell will own approximately 26.96% of the Company’s outstanding stock. Namibia Rare Earths stock moved up 188% to $0.115 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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