Palladium One Mining Inc. (TSXV:PDM), a resource junior, moved higher after announcing that Eric Sprott is expected to take an equity stake in the Company
A significant investment from financier Eric Sprott boosted shares of a resource junior Tuesday. Here’s some small stocks making big moves on Tuesday, October 29, 2019 (as of 11:30 am EST):
Palladium One Mining Inc. (TSXV:PDM) shares gained 14% to $0.08 on Tuesday after the resource junior announced that Eric Sprott is expected to take a 19.99% equity stake in the Company via a non-brokered private placement at a price of C$0.06 per unit. Proceeds of the financing will be used primarily for exploration activities on Palladium One’s palladium-dominant, LK Project in Finland in addition to its Tyko Sulphide Nickel Project in Ontario.
As well, shares of Canada Jetlines Ltd. (TSXV:JET) plummeted 81% to $0.04 as the pending Ultra-Low Cost Carrier airline said it is postponing its planned December launch and laying off most employees after failing to secure $40 million in required financing and losing investment partners SmartLynx and InHarv ULCC Growth Fund.
Drone Delivery Canada Corp. (TSXV:FLT), meanwhile, reported that it has entered into a commercial agreement with the Edmonton Regional Airports Authority for the purpose of establishing the world’s first airport drone delivery hub at the Edmonton International Airport. Drone Delivery Canada stock moved up 7% to $0.94 following the announcement.
Finally, MediaValet Inc. (TSXV:MVP) shares jumped 12% to $0.52 after the provider of cloud-based enterprise digital asset management and creative operations software announced that it has signed a master services agreement with a global entertainment company.
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:
The Content contained on this page (including any facts, views, opinions, recommendations, description of, or references to, products or securities) made available by SmallCapPower/Ubika Research is for information purposes only and is not tailored to the needs or circumstances of any particular person. Any mention of a particular security is merely a general discussion of the merits and risks associated there with and is not to be used or construed as an offer to sell, a solicitation of an offer to buy, or an endorsement, recommendation, or sponsorship of any entity or security by SmallCapPower/Ubika Research. The Reader should apply his/her own judgment in making any use of any Content, including, without limitation, the use of any information contained therein as the basis for any conclusions. The Reader bears responsibility for his/her own investment research and decisions. Before making any investment decision, it is strongly recommended that you seek outside advice from a qualified investment advisor. SmallCapPower/Ubika Research does not provide or guarantee any financial, legal, tax, or accounting advice or advice regarding the suitability, profitability, or potential value of any particular investment, security, or information source. Ubika and/or its affiliates and/or their respective officers, directors or employees may from time to time acquire, hold or sell securities and/or commodities and/or commodity futures contracts in certain underlying companies mentioned in this site and which may also be clients of Ubika’s affiliates. In such instances, Ubika and/or its affiliates and/or their respective officers, directors or employees will use all reasonable efforts to avoid engaging in activities that would lead to conflicts of interest and Ubika and/or its affiliates will use all reasonable efforts to comply with conflicts of interest disclosures and regulations to minimize the conflict.
Palladium One Mining Inc. (TSXV:PDM) shares gained 14% to $0.08 on Tuesday after the resource junior announced that Eric Sprott is expected to take a 19.99% equity stake in the Company via a non-brokered private placement at a price of C$0.06 per unit. Proceeds of the financing will be used primarily for exploration activities on Palladium One’s palladium-dominant, LK Project in Finland in addition to its Tyko Sulphide Nickel Project in Ontario.
