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.

Win Big With Our Small Cap Picks


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 >>

See more Small and Micro Cap Market Movers Daily from Sean Mason. Tomorrow’s big stock market winners could be found here today!

Hi, did you know SmallCapPower accepts blog submissions? You can contact me here

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: