Energy Junior Jumps on Assets MOU

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CruzSur Energy Corp. (TSXV:CZR), an energy junior, moved up after announcing a Memorandum of Understanding with Panacol Oil & Gas

Sean Mason | September 3, 2019 | SmallCapPower

A Memorandum of Understanding (MOU) and resolution agreement boosted shares of an energy junior Tuesday. Here’s some small stocks making big moves on Tuesday, September 3, 2019 (as of 4 pm EST):

CruzSur Energy Corp. (TSXV:CZR) shares shot up 29% to $0.45 on Tuesday after the energy junior announced that it has signed a Memorandum of Understanding with Panacol Oil & Gas Corp. to jointly develop assets of CruzSur in Colombia and Argentina. CruzSur Energy added that it reached an agreement with Compañía Argentina de Comodoro Rivadavia Explotación de Petróleo – CACR to resolve the liabilities regarding KM 8.

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As well, shares of Labrador Gold Corp. (TSXV:LAB) slid 27% to $0.16 as the gold explorer said it has received a request from members of the Matimekush-Lac John First Nation to stop further exploration at its Ashuanipi project in Labrador.

Canada Jetlines Ltd. (TSXV:JET), meanwhile, reported that SmartLynx Airlines SIA has agreed to extend the funding milestone under the definitive subscription agreement under which SmartLynx will provide $7.5 million in financing under the terms of a convertible debenture. Canada Jetlines stock popped 43% to $0.35 following the announcement.

Finally, Score Media and Gaming Inc. (TSXV:SCR) shares climbed 11% to $0.81 after the digital media company announced that Fengate Asset Management has agreed to invest $40 million to fund the growth and development of the Company’s media and sports betting businesses.

See more Small and Micro Cap Market Movers Daily from Sean Mason. Tomorrow’s big stock market winners could be found here today!

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

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