Junior Gold Miner Rises on Takeover Deal

Brio Gold Inc. (TSX:BRIO), a junior gold miner, climbed after agreeing to be acquired by Leagold Mining Corporation

Sean Mason | February 16, 2018 | SmallCapPower

A sweetened takeover offer was good news for shareholders of a junior gold miner Friday. Here’s some small stocks making big moves on Friday, February 16, 2018 (as of 4 pm EST):

Brio Gold Inc. (TSX:BRIO) shares gained 11% to $2.56 on Friday after the junior gold miner announced that it has agreed to be acquired by Leagold Mining Corporation in an all-stock transaction. Brio Gold shareholders will receive 0.922 of a Leagold common share, and 0.4 of a Leagold share purchase warrant, for each common share of Brio Gold held.

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As well, shares of Jaxon Mining Inc. (TSXV:JAX) slipped 14% to $0.245 as the junior explorer released 2,281 metres of diamond drilling results on the Max silver-zinc target at the Hazelton Project in British Columbia, which included grades from 103 g/t to 1,206 g/t silver, up to 11.1% zinc and up to 2.07 g/t gold.

Delta 9 Cannabis Inc. (TSXV:NINE), meanwhile, reported that its consortium with Canopy Growth has been awarded a retail license in the province of Manitoba. Delta 9 Cannabis stock moved up 8% to $2.30 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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