Graphite Junior Jumps on Offtake Agreement

NextSource Materials Inc. (TSX:NEXT), a graphite junior, surged after announcing a binding Offtake Agreement with a Japanese Trading Company

Sean Mason | October 16, 2018 | SmallCapPower

An offtake involving a Japanese electric vehicle manufacturer put a charge into shares of a graphite junior Tuesday. Here’s some small stocks making big moves on Tuesday, October 16, 2018 (as of 4 pm EST):

NextSource Materials Inc. (TSX:NEXT) shares powered 40% higher to $0.105 on Tuesday after the graphite junior announced that it has signed a binding Offtake Agreement for the supply of NextSource’s SuperFlake graphite concentrate with a prominent Japanese Trading Company that is a primary supplier of flake graphite to a major Japanese electric vehicle anode producer.

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As well, shares of Reliq Health Technologies Inc. (TSXV:RHT) plunged 58% to $0.315 as the mobile health technology company said it has decided to restate certain financial information reported for the quarter ended March 31, 2018, which the Company asserts will affect its revenue and is projected to increase the Company’s loss and comprehensive loss for Fiscal Year 2018.

Imex Systems Inc. (TSXV:IMEX), meanwhile, reported that it has advanced its working model of the GOVCANN platform and is in the process of forming strategic relationships as Canada prepares for adult-use cannabis legalization on October 17, 2018. Imex Systems stock moved up as much as 12%  following the announcement.

Finally, Prometic Life Sciences Inc. (TSX:PLI) shares rose 12% to $0.55 after the biopharma company announced that it has completed a Type C meeting in which the FDA agreed with the Company’s proposed action plan for the implementation of additional analytical assays and in-process controls related to the Ryplazim (plasminogen) manufacturing process.

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

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