Junior Gold Miner Climbs on Merger Announcement

Guyana Goldfields Inc. (TSX:GUY), a junior gold miner, surged after announcing a merger with Gran Colombia Gold (TSX:GCM) and Gold X Mining (TSXV:GLDX)

Sean Mason | May 11, 2020 | SmallCapPower

A proposed three-way merger propelled shares of a junior gold miner Monday. Here’s some small stocks making big moves on Monday, May 11, 2020 (as of 4 pm EST):

Guyana Goldfields Inc. (TSX:GUY) shares jumped 14% to $0.80 on Monday after the junior gold miner announced a three-way merger with Gran Colombia Gold Corp. (TSX:GCM) and Gold X Mining Corp. (TSXV:GLDX). Guyana Goldfields investors will receive 0.142 of a Gran Colombia share for each Guyana Goldfields share held, which the Company claims is an ~50% premium to the Silvercorp offer.

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As well, shares of Alacer Gold Corp. (TSX:ASR) slipped 4% to $7.87 as the gold miner said it has agreed to an at-market merger with SSR Mining Inc. (TSX:SSRM), in which Alacer shareholders will receive 0.3246 SSR Mining shares for each Alacer share held.

iFabric Corp. (TSX:IFA), meanwhile, provided details of its test results about the efficacy of fabrics treated with the Company’s proprietary PROTX2 technology for inactivating the SARS-CoV-2 virus, which is the cause of COVID-19 disease. The laboratory reported that the treated fabrics demonstrated a greater than 99.9% reduction in active viral loads on the tested fabrics at each of the four time points, which represents a more than 1,000-fold reduction in active viral load when compared to untreated fabric. iFabric stock popped 18% to $3.31 following the announcement.

Finally, dynaCERT Inc. (TSXV:DYA) shares gained 13% to $0.68 after the provider of carbon emission reduction technology announced that it has received a purchase order for 3,000 HydraGEN Technology Units from KarbonKleen Inc. KarbonKleen has also granted the Company exclusive Dealership rights in the trucking industry in the United States of America until December 31, 2024.

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

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