An improved acquisition offer powered shares of a gold junior Thursday. Here’s some small stocks making big moves on Thursday, June 18, 2020 (as of 4 pm EST):
Cardinal Resources Limited (TSX:CDV) shares surged 23% to $0.56 on Thursday after the gold junior announced that it has agreed to be acquired by Shandong Gold Mining (Hong Kong) Co, Ltd. for A$0.60 per share in cash, which CDV’s Board considers to be a superior proposal to Nord Gold SE’s bid of A$0.45775 submitted back in March 2020.
As well, shares of MediPharm Labs Corp. (TSX:LABS) fell 14% to $1.46 as the cannabis extraction company said its first-quarter 2020 revenue fell 49% from the same quarter a year ago, due to a “reduction in the average selling price of bulk extracts and reduced volumes sold because of a continued muted demand in the Canadian bulk wholesale market.”
Manganese X Energy Corp. (TSXV:MN), meanwhile, reported that its wholly-owned subsidiary, Disruptive Battery Corp., has signed a Partnership Agreement for continental African distribution of an air disinfectant system with Ecor Cleaning (Pty) Limited of South Africa. Manganese X Energy stock moved up 15% to $0.115 following the announcement.
Viemed Healthcare, Inc. (TSX:VMD) shares rose 6% to $15.21 after the home medical equipment supplier announced that its stock is expected to be included in the Russell 3000 Index on June 29, 2020.
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
To read our full disclosure, please click on the button below:
The Content contained on this page (including any facts, views, opinions, recommendations, description of, or references to, products or securities) made available by SmallCapPower/Ubika Research is for information purposes only and is not tailored to the needs or circumstances of any particular person. Any mention of a particular security is merely a general discussion of the merits and risks associated there with and is not to be used or construed as an offer to sell, a solicitation of an offer to buy, or an endorsement, recommendation, or sponsorship of any entity or security by SmallCapPower/Ubika Research. The Reader should apply his/her own judgment in making any use of any Content, including, without limitation, the use of any information contained therein as the basis for any conclusions. The Reader bears responsibility for his/her own investment research and decisions. Before making any investment decision, it is strongly recommended that you seek outside advice from a qualified investment advisor. SmallCapPower/Ubika Research does not provide or guarantee any financial, legal, tax, or accounting advice or advice regarding the suitability, profitability, or potential value of any particular investment, security, or information source. Ubika and/or its affiliates and/or their respective officers, directors or employees may from time to time acquire, hold or sell securities and/or commodities and/or commodity futures contracts in certain underlying companies mentioned in this site and which may also be clients of Ubika’s affiliates. In such instances, Ubika and/or its affiliates and/or their respective officers, directors or employees will use all reasonable efforts to avoid engaging in activities that would lead to conflicts of interest and Ubika and/or its affiliates will use all reasonable efforts to comply with conflicts of interest disclosures and regulations to minimize the conflict.