Energy Junior Surges on Acquisition Deal: Sean Mason’s Canadian Small Cap Market Movers

Sean Mason | October 16, 2015 | SmallCapPower

volume flowed following an African oil agreement Friday while some speculators had
an appetite for a potash play. Here’s some small stocks making big moves on Friday,
October 16, 2015 (as of 4 pm EST):

Mart Resources, Inc. (TSX:
) shares powered 37% higher to $0.26 on volume of more than 4.5 million
shares Friday after the Nigeria-focused oil and gas producer announced that it
has agreed to be acquired by Delta Oil Nigeria B.V. for C$0.35 in cash, or a
total consideration of approximately C$124.92 million. 

As well,
shares of Aeterna Zentaris Inc. (TSX:
) slipped 12% to $0.075 as the specialty biopharmaceutical company said
it is proposing a consolidation of its issued and outstanding common shares at
a ratio of between 8-for-1 and 100-for-1 to avoid a potential delisting of its stock
from the NASDAQ.  

Encanto Potash Corp. (TSXV:
), meanwhile, reported that it has entered into a Memorandum of
Understanding with Metals and Minerals Trading Corporation of India, to define
the framework for a long-term supply arrangement for Muriate of Potash. Encanto
Potash stock moved up 25% to $0.075 following the announcement.  

Finally, Avcorp Industries Inc. (TSX:
) shares gained 20% to $0.06 after the designer and builder of major
airframe structures announced it has been awarded its first purchase contract
from Lockheed Martin. 

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