An acquisition agreement was a ‘Windfall’ for many shareholders of a gold explorer Wednesday. Here’s some small stocks making big moves on Wednesday, August 15, 2018 (as of 4 pm EST):
Beaufield Resources Inc. (TSXV:BFD) shares jumped 25% to $0.075 on Wednesday after the gold explorer announced that it has agreed to be acquired by Osisko Mining Inc. (TSX:OSK) in an all-stock transaction. Beaufield shareholders will receive 0.0482 of a common share of Osisko for each Beaufield share held.
As well, shares of Spectra7 Microsystems Inc. (TSX:SEV) sank 32% to $0.14 as the provider of analog semiconductor products for broadband connectivity markets said its second-quarter revenue fell 11% to $0.8 million. The Company also announced that it has proposed a non-brokered private placement to raise up to $5,022,920 at a price of $0.15 per unit.
GGX Gold Corp. (TSXV:GGX), meanwhile, reported additional analytical results from its diamond drilling program on the Gold Drop property in southern British Columbia, which included 50.1 g/t gold and 375 g/t silver over 2.05 meters. GGX Gold stock moved up 14% to $0.125 following the announcement.
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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Beaufield Resources Inc. (TSXV:BFD) shares jumped 25% to $0.075 on Wednesday after the gold explorer announced that it has agreed to be acquired by Osisko Mining Inc. (TSX:OSK) in an all-stock transaction. Beaufield shareholders will receive 0.0482 of a common share of Osisko for each Beaufield share held.
