Gold Explorer Powers Higher on Blockchain Initiative

Canamex Gold Corp. (CVE:CSQ), a gold explorer, climbed after announcing a Terms of Agreement to consider the issues around an Initial Coin Offering based on Ethereum blockchain technology

Sean Mason | December 7, 2017 | SmallCapPower

Blockchain mania continues to build, drawing a gold explorer into its fold Thursday. Here’s some small stocks making big moves on Thursday, December 7, 2017 (as of 4 pm EST):

Canamex Gold Corp. (TSXV:CSQ) shares jumped 38% to $0.165 on Thursday after the gold explorer announced that it has executed a Terms of Agreement with Harmonychain AS to consider the issues around an Initial Coin Offering of asset-backed digital tokens based on the Ethereum blockchain technology, and whether the Company could utilize this new technology in future offerings.

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As well, shares of Kalytera Therapeutics, Inc. (TSXV:KALY) fell 19% to $0.255 as the biotechnology company said it has initiated a Phase 2 clinical study evaluating the use of cannabidiol in the prevention of graft versus host disease. Results of the study are expected by Q3 2018.

Resverlogix Corp. (TSX:RVX), meanwhile, reported that it has repaid, in full, its C$68.8 million loan and now has no outstanding long-term debt. Resverlogix stock moved up 20% to $1.97 following the announcement.

Finally, Goldcliff Resource Corporation (TSXV:GCN) shares gained 121% to $0.42 after the company announced that it has begun work to introduce a digital currency based on gold.

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Disclosure: Neither the author nor any of the principals at SmallCapPower, or their family members, own shares in any of the companies mentioned above.

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