Gold Junior Jumps on Merger Agreement

Metanor Resources Inc. (TSXV:MTO), a gold junior, climbed after agreeing to be acquired by Bonterra Resources Inc. (TSXV:BTR)

Sean Mason | June 19, 2018 | SmallCapPower

A merger out of Quebec sparked much interest in shares of a gold junior Tuesday. Here’s some small stocks making big moves on Tuesday, June 19, 2018 (as of 4 pm EST):

Metanor Resources Inc. (TSXV:MTO) shares moved 14% higher to $0.64 on Tuesday after the gold junior announced that it has agreed to be acquired by Bonterra Resources Inc. (TSXV:BTR) in an all-stock transaction. Metanor shareholders will receive 1.6039 Bonterra shares for each Metanor share held.

Related: Metanor Resources (TSXV:MTO) – All Signs Point to a Company Sale

As well, shares of Neptune Technologies & Bioressources Inc. (TSX:NEPT) surged 32% to $4.26 as the wellness products company said it has entered into a multi-year agreement with Canopy Growth Corp. (TSX:WEED) to supplement Canopy Growth’s extraction, refinement, and extract product formulation capacity.

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Erin Ventures Inc. (TSXV:EV), meanwhile, reported that it has entered into a strategic partnership option agreement with a London-based commodity investment specialist, which has the right to make equity investments totaling US$20.135 million to advance Erin’s Piskanja Borate Project in Serbia. Erin Ventures stock moved up 17% to $0.14 following the announcement.

Finally, BLOCKStrain Technology Corp. (TSXV:DNAX) shares slid 25% to $0.375 after the cannabis blockchain provider announced that National Green Biomed Ltd. has signed a Letter of Intent for adoption of the BLOCKStrain software platform at NG Biomed’s production facility in British Columbia.

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

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