Gold Explorer Glisters on Big-Name Investment

Great Bear Resources Ltd. (TSXV:GBR), a gold explorer, jumped after announcing a private placement financing involving Rob McEwen

Sean Mason | August 24, 2018 | SmallCapPower

A significant investment by Rob McEwen sparked much speculation in shares of a gold explorer Friday. Here’s some small stocks making big moves on Friday, August 24, 2018 (as of 4 pm EST):

Great Bear Resources Ltd. (TSXV:GBR) shares climbed 27% to $1.95 on Friday after the gold explorer announced that it will raise up to $10 million in a private placement financing at a price of $1.45 per unit. Rob McEwen has agreed to purchase $4.8 million of the Financing and McEwen Mining has agreed to purchase $1.2 million for a total of $6 million. Upon completion, Rob McEwen and McEwen Mining will collectively own 18.8% of Great Bear Resources stock on a partially-diluted basis.

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As well, shares of LGC Capital Ltd. (TSXV:LG) shot up 15% to $0.195 as the cannabis company said that the Phase I construction of Tricho-Med’s 34,000 square foot cannabis growing facility in Brownsburg, Quebec is on track and on schedule, expected to be completed within three months.

BTU Metals Corp. (TSXV:BTU), meanwhile, reported that it has acquired 10 claims comprising 85 units (1,514 hectares) adjoining the northern and eastern boundaries of Great Bear Resources’ Dixie Project located in the Red Lake District of Ontario. BTU Metals stock popped 114% to $0.075 following the announcement.

Finally, Namaste Technologies Inc. (TSXV:N) shares jumped 8% to $1.87 after the cannabis e-commerce platform provider announced that it has received official approval of the latest version of its NamasteMD cannabis telemedicine App for Google Android devices.

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

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