It was M&A Monday in the Canadian gold patch, which included a well-known junior gold miner. Here’s some small stocks making big moves on Monday, March 19, 2018 (as of 4 pm EST):
Klondex Mines Ltd. (TSX:KDX) shares surged 59% to $2.86 on Monday after the junior gold miner announced that it has agreed to be acquired by Hecla Mining Company in exchange for US$2.47 per share in cash or shares of Hecla. The transaction is valued at US$462 million.
As well, shares of Rye Patch Gold Corp. (TSXV:RPM) added 5% at $1.32 as the gold junior said it has agreed to be acquired by Alio Gold Inc. in an all-stock transaction. Rye Patch Gold shareholders will receive 0.48 common shares of Alio Gold for each Rye Patch common share held.
Maritime Resources Corp. (TSXV:MAE), meanwhile, reported that it has agreed to be acquired by Anaconda Mining Inc., in which Maritime Resources shareholders will receive 0.364 of a common share of Anaconda in exchange for each Maritime share held. Maritime Resources stock moved up 15% to $0.115 following the announcement.
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
To read our full disclosure, please click on the button below:
The Content contained on this page (including any facts, views, opinions, recommendations, description of, or references to, products or securities) made available by SmallCapPower/Ubika Research is for information purposes only and is not tailored to the needs or circumstances of any particular person. Any mention of a particular security is merely a general discussion of the merits and risks associated there with and is not to be used or construed as an offer to sell, a solicitation of an offer to buy, or an endorsement, recommendation, or sponsorship of any entity or security by SmallCapPower/Ubika Research. The Reader should apply his/her own judgment in making any use of any Content, including, without limitation, the use of any information contained therein as the basis for any conclusions. The Reader bears responsibility for his/her own investment research and decisions. Before making any investment decision, it is strongly recommended that you seek outside advice from a qualified investment advisor. SmallCapPower/Ubika Research does not provide or guarantee any financial, legal, tax, or accounting advice or advice regarding the suitability, profitability, or potential value of any particular investment, security, or information source. Ubika and/or its affiliates and/or their respective officers, directors or employees may from time to time acquire, hold or sell securities and/or commodities and/or commodity futures contracts in certain underlying companies mentioned in this site and which may also be clients of Ubika’s affiliates. In such instances, Ubika and/or its affiliates and/or their respective officers, directors or employees will use all reasonable efforts to avoid engaging in activities that would lead to conflicts of interest and Ubika and/or its affiliates will use all reasonable efforts to comply with conflicts of interest disclosures and regulations to minimize the conflict.