Energy Junior Pumps Up on Asset Sale, Production Results

Altura Energy Inc. (TSXV:ATU), an energy junior, moved higher after announcing that it has agreed to sell its east-central Alberta and Saskatchewan assets

Sean Mason | May 16, 2018 | SmallCapPower

A Western Canadian asset sale sparked speculation in shares of an energy junior Wednesday. Here’s some small stocks making big moves on Wednesday, May 16, 2018 (as of 4 pm EST):

Altura Energy Inc. (TSXV:ATU) shares powered 26% higher to $0.50 on Wednesday after the energy junior announced that it has agreed to sell its east-central Alberta and Saskatchewan assets for $28.375 million in cash. The Company also said its first-quarter production volumes rose 20% from a year ago to an average of 1,215 Boe per day.

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As well, shares of Spectra7 Microsystems Inc. (TSX:SEV) slid 18% to $0.14 as the provider of analog semiconductor products for broadband connectivity markets said its first-quarter revenue fell 69% from the previous quarter to US$0.9 million.

Ventripoint Diagnostics Ltd. (TSXV:VPT), meanwhile, reported that it has received market clearance from the US Food and Drug Administration (FDA) to sell its VMS+ machine with the 4-chamber heart analysis system in the United States. Ventripoint Diagnostics stock popped 19% to $0.35 following the announcement.

Finally, Xebec Adsorption Inc. (TSXV:XBC) shares climbed 15% to $0.69 after the provider of gas purification solutions for the industrial, energy and renewables marketplace announced that it has signed an exclusive Market Development and Commercialization Agreement with Sapio Group for a minimum purchase order commitment for multiple Xebec biogas upgrading plants for a total value of C$51 million to be delivered over three years.

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

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