Precious Metals Junior Shines on Takeover Agreement

Coral Gold Resources Ltd. (TSXV:CLH), a precious metals junior, climbed after agreeing to be acquired by Nomad Royalty

Sean Mason | August 24, 2020 | SmallCapPower

A cash-and-stock acquisition powered shares of a precious metals junior Monday. Here’s some small stocks making big moves on Monday, August 24, 2020 (as of 4 pm EST):

Coral Gold Resources Ltd. (TSXV:CLH) shares jumped 21% to $1 on Monday after the precious metals junior announced that it has agreed to be acquired by Nomad Royalty Company, in which Coral Gold shareholders will receive C$0.05 per share in cash plus 0.8 Nomad shares for each CLH share held. The transaction is valued at approximately $45.8 million.

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As well, shares of Northern Dynasty Minerals Ltd. (TSX:NDM) sank 38% to $1.19 following reports that the Trump administration is planning to block the Pebble Mine in Alaska.

Dealnet Capital Corp. (TSXV:DLS), meanwhile, reported that it has agreed to be acquired by Simply Green Home Services Inc. for $0.16 per share in cash, or a total equity value of $47.8 million. Dealnet Capital stock popped 29% to $0.155 following the announcement.

Finally, Avicanna Inc. (TSX:AVCN) shares rose as much as 9% after the cannabinoid-based products developer announced that it has completed exports of CBG and CBD isolates into the United States and CBD isolate into Germany.

Ubika Research/SmallCapPower has received compensation from Avicanna to provide analyst research coverage. For full disclosure please visit here >>

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

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