Potash Junior Soars on Takeover Speculation: Sean Mason’s Canadian Small Cap Market Movers

Published:

Growing
demand for a small potash play caused its share price to sprout Thursday while
every investor loves a special dividend. Here’s some small stocks making big
moves on Thursday, October 1, 2015 (as of 4 pm EST):

Karnalyte
Resources Inc.
(TSX:
KRN
) shares surged 74% to
$0.94 on Thursday after the potash project developer acknowledged a
press release issued this morning on behalf of Erwin Singh Braich, which
indicates his interest in acquiring control of Karnalyte.

As well,
shares of ProMetic Life Sciences Inc.
(TSX:
PLI
) gained 24% to $1.82 as the biopharmaceutical company said it had
a successful Pre-Investigational New Drug meeting with the U.S. Food and Drug
Administration (FDA) for its orally active anti-fibrotic lead drug candidate,
PBI-4050. 

Kingsway Arms Retirement Residences Inc. (TSXV:
KWA
), meanwhile, reported that it will pay a special dividend of $0.055 per
share (return of capital distribution) to shareholders of record as at the
close of business on October 7, 2015. Kingsway Arms stock moved up 36% to
$0.075 following the announcement.   

Finally, Naturally Splendid Enterprises Ltd. (TSXV:
NSP
) shares jumped 13% to $0.225 after the biotechnology company announced that
three additional custom formulated, flavoured hemp protein blends created by
Naturally Splendid for Laguna Blends, has received approval from Health
Canada.

Hi, did you know SmallCapPower
accepts blog submissions? You can contact me at 
sean@smallcappower.com.

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