Digital Video Stock Soars on Takeover Agreement

NeuLion, Inc. (TSX:NLN), a digital video stock, shot up after announcing that it has agreed to be acquired by Endeavor

Sean Mason | March 26, 2018 | SmallCapPower

A digital video stock powered higher Monday following an offer it just couldn’t refuse. Here’s some small stocks making big moves on Monday, March 26, 2018 (as of 4 pm EST):

NeuLion, Inc. (TSX:NLN), a digital video stock, surged 112% to $1.06 on Monday after announcing that it has agreed to be acquired by Endeavor for US$0.84 per share in cash, or a total consideration of approximately US$250 million.

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As well, shares of Hempco Food and Fiber Inc. (TSXV:HEMP) jumped 42% to $1.53 as the hemp-based foods provider said Aurora Cannabis Inc. (TSX:ACB) has increased its ownership interest in Hempco to approximately 35% through the exercising of 10,558,676 warrants for total proceeds of $4.3 million to Hempco.

International Zeolite Corp. (TSXV:IZ), meanwhile, reported that it has entered into a binding agreement to acquire 55% of the outstanding share capital of Ichaana Indo-Can Zeolite Private Limited, an Indian company focused on introducing various products of natural zeolite to the Indian agriculture and farming sectors. International Zeolite stock moved up 9% to $0.415 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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