Sean Mason | January 29, 2016 | SmallCapPower
Broadcast recognition lifted a social media stock Friday, while some investors jeered one financing and cheered another. Here’s some small stocks making big moves on Friday, January 29, 2016 (as of 4 pm EST):
Frankly Inc. (TSXV: TLK) shares climbed 23% to $0.65 on Friday after the content and conversation platform announced that it has become a charter member of PILOT, an initiative launched through the National Association of Broadcasters. PILOT is designed to create a coalition of broadcasting and technology stakeholders, such as new media broadcasters, measurement and attribution companies, advertising partners and technology enablers.
As well, shares of Orbite Technologies Inc. (TSX: ORT) sank 20% to $0.32 as the Canadian clean tech company said it has entered into an underwriting agreement with Euro Pacific Canada for a 5% convertible debenture bought deal financing, for gross proceeds of $4 million. The conversion price is $0.40 per common share.
OneRoof Energy Group, Inc. (TSXV: ON), meanwhile, reported that its wholly-owned subsidiary has agreed to a financing in the aggregate principal amount of US$1 million, consisting of secured convertible notes issuable to Spindrift Equities LLC. OneRoof Energy stock moved up as much as 20% before ending unchanged at $0.05 following the announcement.
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