Precious Metals Miner Powers Higher on Takeover Deal

Primero Mining Corp. (TSX:P), a precious metals miner, soared after agreeing to be acquired by First Majestic Silver Corp. (TSX:FR)

Sean Mason | January 12, 2018 | SmallCapPower

A beaten-down precious metals miner received a big life line Friday, sending its stock price surging. Here’s some small stocks making big moves on Friday, January 12, 2018 (as of 4 pm EST):

Primero Mining Corp. (TSX:P) shares shot up 125% to $0.27 on Friday after the precious metals miner announced that it has agreed to be acquired by First Majestic Silver Corp. (TSX:FR) in an all-stock transaction valued at approximately $320 million. Primero Mining shareholders will receive 0.03325 of a First Majestic common share for each Primero common share held.

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As well, shares of Spearmint Resources Inc. (TSXV:SRJ) slid 18% to $0.07 as the resource junior said it has closed the acquisition and now owns 100% of the WHY WEST Magnesium project and the BUDDY claims in British Columbia.

OneSoft Solutions Inc. (TSXV:OSS), meanwhile, reported that its wholly-owned subsidiary, OneBridge Solutions, has entered into a technology license and joint development agreement with Phillips 66 to create a comprehensive pipeline integrity management software application, by migrating Phillips 66’s current pipeline data management system to a cloud-based software-as-a-service solution and integrating Machine Learning and other Data Science technologies into the application. OneSoft Solutions stock moved up 19% to $0.35 following the announcement.

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

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