Gold Royalty Stock Shines on Claims Acquisition

Ely Gold Royalties Inc. (TSXV:ELY), a gold royalty stock, revved higher after purchasing 75 patented Nevada mining claims

Sean Mason | February 3, 2020 | SmallCapPower

A Nevada claims purchase agreement sparked excitement in a gold royalty stock Monday. Here’s some small stocks making big moves on Monday, February 3, 2020 (as of 4 pm EST):

Ely Gold Royalties Inc. (TSXV:ELY), a gold royalty stock, jumped 11% to $0.78 on Monday after announcing that it has signed a binding term sheet for the purchase of 75 patented mining claims in Nevada from Cliff ZZ LLC, for a purchase price of $650,000 in cash and 600,000 Ely Gold share purchase warrants exercisable into common shares at $0.65 for a period of two years.

Watch: We Expect Nearly $4 Million in Revenue This Year, Says Ely Gold Royalties CEO  

Plus, discover why Ely Gold is a top pick of Mickey Fulp by watching our interview here

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As well, shares of Rifco Inc. (TSXV:RFC) surged 35% to $1.15 as the Canadian alternative auto finance company said it has agreed to be acquired by CanCap Group Inc. for $1.18 per share in cash, or a total consideration of approximately $25.5 million.

Resverlogix Corp. (TSX:RVX), meanwhile, reported that the U.S. Food & Drug Administration (FDA) has granted Breakthrough Therapy Designation for apabetalone in combination with top standard of care, including high-intensity statins, for the secondary prevention of major adverse cardiac events in patients with Type 2 diabetes mellitus and recent acute coronary syndrome. Resverlogix stock popped 12% to $1.33 following the announcement.

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

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