Sean Mason | January 22, 2016 | SmallCapPower
A troubled energy play hopes the third time’s a charm when it comes to being acquired, while a debt deal sparked a social media provider. Here’s some small stocks making big moves on Friday, January 22, 2016 (as of 4 pm EST):
Mart Resources, Inc. (TSX: MMT) shares surged 100% to $0.17 on volume of more than 13.5 million shares Friday after the oil and gas producer/explorer with operations in Nigeria announced that it has agreed to be acquired by a group that includes Midwestern Oil & Gas Company Limited, San Leon Energy Plc, and 1038221 B.C. Ltd., for a purchase price C$0.25 per share in cash, or a total consideration of approximately C$89.2 million.
As well, shares of DiagnoCure, Inc. (TSX: CUR) slipped 4% to $0.12 as the life sciences company said its net loss for the fourth quarter widened to $2,425,901 from $461,710 during the same period in 2014.
Mitel (TSX: MNW), meanwhile, increased its fourth-quarter earnings guidance to $0.27 to $0.28 per share, and upped its Q4 revenue forecast to $330 million to $335 million. Mitel stock popped 19% to $10.31 following the announcement.
Finally, Keek Inc. (TSXV: KEK) shares rose 6% to $0.25 after the mobile video social network announced that Riavera Corp. has agreed to purchase 4 million units, of a 6 million unit private placement, at a price of $1 million. As well, the $3 million principal amount of 7% secured notes due March 1, 2017 held by Riavera will automatically convert, according to its terms, into common shares of Keek at a price of $0.25 per share, the result of which being that Riavera will own or control 49.26% of Keek’s outstanding common shares on an undiluted basis.
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