Gold Explorer Jumps on Investment, Drill Results

Scottie Resources Corp. (TSXV:SCOT), a gold explorer, moved higher after announcing an investment from Eric Sprott

Sean Mason | January 10, 2020 | SmallCapPower

A big-name investment and Golden Triangle drill results lifted shares of a gold explorer Friday. Here’s some small stocks making big moves on Friday, January 10, 2020 (as of 4 pm EST):

Scottie Resources Corp. (TSXV:SCOT) shares climbed 13% to $0.26 on Friday after the gold explorer announced a $2 million investment from Eric Sprott via a non-brokered private placement at a price of $0.20 per unit. As well, on Thursday the Company reported drill results from the Blueberry Vein on the Bow Property in British Columbia’s Golden Triangle area, which included 7.44 g/t gold and 1.29 g/t silver over 34.78 metres.

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As well, shares of CounterPath Corporation (TSX:PATH) powered 329% higher to $5.06 as the provider of Unified Communications and Collaboration solutions for enterprises and service providers said it has partnered with Honeywell to create Smart Talk, a new Unified Communications software solution that enables organizations to streamline communications, increase productivity, and enhance customer experiences by allowing mobile workers to connect and collaborate on the devices they already use in their daily operations.

Renaissance Oil Corp. (TSXV:ROE), meanwhile, reported that it has received an equity investment totaling US$1 million at a price of C$0.20 per share. The name of the investor was not disclosed. Renaissance Oil stock moved up 18% to $0.10 following the announcement.

Finally, Profound Medical Corp. (TSX:PRN) shares gained 14% to $14.79 after the medical device company announced the signing of its first-ever U.S. multi-site imaging center agreement for TULSA-PRO with RadNet, Inc. (NASDAQ:RDNT). In addition, Profound said it anticipates total revenues for the fourth quarter of 2019 to be approximately $2.7 million, representing growth of 59% year over year and 296% sequentially over the previous quarter.

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

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