Sean Mason | March 28, 2016 | SmallCapPower
An improved takeover offer was good news for some shareholders Monday, while a failed discovery soured the mood of others. Here’s some small stocks making big moves on Monday, March 28, 2016 (as of 4 pm EST):
Northern Sun Mining Corp. (TSXV: NSC) shares jumped 30% to $0.065 on Monday after the resource project developer announced that Regal Silver Investments Ltd has agreed to increase its share offer price to acquire all outstanding shares of Northern Sun from $0.05 to $0.07 per common share.
As well, shares of SDX Energy Inc. (TSXV: SDX) sank 41% to $0.38 as the oil and gas producer/explorer said it has failed to make an oil discovery following the completion of drilling operations on the Manatee-1 exploration well in Cameroon.
Wi2Wi Corporation (TSXV: YTY), meanwhile, reported that on March 18, 2016, it entered into a new US$2 million revolving credit facility with Wells Fargo Bank, National Association. Wi2Wi stock moved up 18% to $0.10 following the announcement.
Finally, TSO3 Inc. (TSX: TOS) shares rose 4% to $2.16 after the provider of sterilization technology for medical devices in healthcare settings announced that it has received FDA 510(k) clearance from the U.S. Food and Drug Administration for a universal design of its STERIZONE VP4 Sterilizer.
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