Gold Royalty Stock Jumps on Acquisition Agreement

Terraco Gold Corp. (TSXV:TEN), a gold royalty stock, moved higher after agreeing to be acquired by Sailfish Royalty Corp. (TSXV:FISH)

Sean Mason | June 20, 2019 | SmallCapPower

More M&A in the junior gold patch powered a gold royalty stock Thursday. Here’s some small stocks making big moves on Thursday, June 20, 2019 (as of 4 pm EST):

Terraco Gold Corp. (TSXV:TEN), a gold royalty stock, climbed 31% to $0.105 on Thursday after announcing that it has agreed to be acquired by Sailfish Royalty Corp. (TSXV:FISH) in an all-stock transaction. Terraco shareholders will receive 0.12 of a common share of Sailfish for each Terraco share held.

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As well, shares of IAMGOLD Corporation (TSX:IMG) rose 7% to $4.27 following a Bloomberg report, which said China National Gold Group, China’s second-largest gold miner, is considering making a bid for the Canadian gold producer.

Kane Biotech Inc. (TSXV:KNE), meanwhile, reported that it has reached a settlement agreement with Nestec, Ltd. and Nestlé Purina Petcare Global Resources, Inc. to resolve the lawsuit filed February 26, 2018. The Company added that specific details of the settlement are confidential but material. Kane Biotech stock moved up 20% to $0.12 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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