Canadian Zeolite Corp. (CVE:CNZ), a green tech stock, moved higher after announcing a new distribution agreement with Shift Supplies Ltd.
Sean Mason | May 29, 2017 | SmallCapPower
A new distribution agreement put cash in the pockets of a few green tech stock investors Monday. Here’s some small stocks making big moves on Monday, May 29, 2017 (as of 4 pm EST):
Canadian Zeolite Corp. (TSXV: CNZ), a green tech stock, surged 63% to $0.79 on Monday after announcing that it has begun the 2017 shipping season with a new distribution agreement with Shift Supplies Ltd., as a Canadian distributor of the Company’s natural zeolite product line. Zeolite is a naturally occurring mineral found in volcanic ash, and is widely used in multiple cross industry applications ranging from water purification to radioactive waste containment.
As well, shares of DragonWave Inc. (TSX: DRWI) slid 23% to $1.10 as the supplier of packet microwave radio systems for mobile and access networks said its fourth-quarter financial results reflected its difficult operating conditions, as revenue fell quarter over quarter to $8.0 million from $10.2 million.
Sandvine Corporation (TSX: SVC), meanwhile, reported that it has agreed to be acquired by an affiliate of Vector Capital for C$3.80 per share in cash, or a total consideration of approximately C$483 million. Sandvine stock popped 23% to $3.86 following the announcement.
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Disclosure: Neither the author nor any of the principals at Small Cap Power, or their family members, own shares in any of the companies mentioned above.
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