Visible gold was a welcome sight for shareholders of a gold explorer Thursday. Here’s some small stocks making big moves on Thursday, October 31, 2019 (as of 4 pm EST):
Apex Resources Inc. (TSXV:APX) shares climbed 29% to $0.09 on Thursday after the gold explorer announced that visible gold has been observed in the initial two diamond drill holes completed at its Ore Hill gold project in British Columbia.
As well, shares of Serengeti Resources Inc. (TSXV:SIR) slid 31% to $0.155 as the junior explorer said it is not in a position to complete the Prefeasibility Study on its 65%-owned Kwanika copper-gold project in British Columbia due to lack of funding and instead will focus on completing an Interim Study Report.
Intrinsyc Technologies Corporation (TSX:ITC), meanwhile, reported that it has agreed to be acquired by Lantronix, Inc. (NASDAQ:LTRX) in a cash-and-stock transaction valued approximately US$27 million. Intrinsyc shareholders will receive US$0.55 in cash plus 0.2135 of a Lantronix share for each common share of Intrinsyc held. Intrinsyc Technologies stock popped 15% to $1.55 following the announcement.
Finally, Valens GroWorks Corp. (TSXV:VGW) shares rose 2% to $2.73 after the cannabis extraction company announced a multi-year, white-label agreement with BRNT Ltd. to launch a line of cannabis vape pens in Canada, with gross revenue potential to Valens of more than $50 million during the first two years.
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
To read our full disclosure, please click on the button below:
The Content contained on this page (including any facts, views, opinions, recommendations, description of, or references to, products or securities) made available by SmallCapPower/Ubika Research is for information purposes only and is not tailored to the needs or circumstances of any particular person. Any mention of a particular security is merely a general discussion of the merits and risks associated there with and is not to be used or construed as an offer to sell, a solicitation of an offer to buy, or an endorsement, recommendation, or sponsorship of any entity or security by SmallCapPower/Ubika Research. The Reader should apply his/her own judgment in making any use of any Content, including, without limitation, the use of any information contained therein as the basis for any conclusions. The Reader bears responsibility for his/her own investment research and decisions. Before making any investment decision, it is strongly recommended that you seek outside advice from a qualified investment advisor. SmallCapPower/Ubika Research does not provide or guarantee any financial, legal, tax, or accounting advice or advice regarding the suitability, profitability, or potential value of any particular investment, security, or information source. Ubika and/or its affiliates and/or their respective officers, directors or employees may from time to time acquire, hold or sell securities and/or commodities and/or commodity futures contracts in certain underlying companies mentioned in this site and which may also be clients of Ubika’s affiliates. In such instances, Ubika and/or its affiliates and/or their respective officers, directors or employees will use all reasonable efforts to avoid engaging in activities that would lead to conflicts of interest and Ubika and/or its affiliates will use all reasonable efforts to comply with conflicts of interest disclosures and regulations to minimize the conflict.