Education Stock Climbs on Takeover Deal

BrightPath Early Learning Inc. (CVE:BPE), an education stock, jumped after agreeing to be acquired by Busy Bees Holdings Limited

Sean Mason | May 23, 2017 | SmallCapPower

An acquisition agreement created a bit of a ‘buzz’ among speculators in an education stock Tuesday. Here’s some small stocks making big moves on Tuesday, May 23, 2017 (as of 4 pm EST):

BrightPath Early Learning Inc. (TSXV: BPE), an education stock, surged 32% to $0.79 on Tuesday after agreeing to be acquired by Busy Bees Holdings Limited for $0.80 per share in cash, or a total consideration of approximately $145 million.

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As well, shares of Macarthur Minerals Limited (TSXV: MMS) slipped 15% to $0.085 as the junior explorer said that it has conducted an extensive near surface geochemical sediment sampling program at its Stonewall Lithium Project in Nevada, adding that all 380 samples contained lithium with sediment assays ranging from 14.6 parts per million (ppm) lithium (Li) and up to 187 ppm Li, with 19 samples over 100 ppm.

Petrowest Corporation (TSX: PRW), meanwhile, reported that it has embarked on a multi-pronged process to dispose of non-core assets, reduce debt levels, and right-size the organization in the context of the future business plan. Petrowest Corporation stock moved up 5% to $0.20 following the announcement.

Finally, ENPAR Technologies Inc. (TSXV: ENP) shares gained 19% to $0.125 after the provider of treatment of waste water, desalination water and drinking water contaminated by metals or nutrients announced a $1.5 million non-brokered private placement at a price of $0.15 per unit.

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Disclosure: Neither the author nor any of the principals at Small Cap Power, or their family members, own shares in any of the companies mentioned above.

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