SaaS Stock Surges on Subscriber Growth

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Identillect Technologies Corp. (CVE:ID), a SaaS stock, powered higher after announcing a 25% subscriber growth increase so far in 2017

Sean Mason | July 11, 2017 | SmallCapPower

Double-digit subscriber growth was good news for investors in a SaaS stock Tuesday. Here’s some small stocks making big moves on Tuesday, July 11, 2017 (as of 4 pm EST):

Identillect Technologies Corp. (TSXV: ID), a SaaS stock, jumped 9% to $0.125 on Tuesday after announcing that during the first six months of 2017, its subscriber base has grown 24.81% from that at December 31, 2016.

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As well, shares of RNC Minerals Corporation (TSX: RNX) slipped as much as 5% before ending unchanged at $0.20 as the resource junior said it has completed the previously announced toll processing and purchase option agreements with Westgold Resources Limited. Ore processing under the toll agreement is expected to begin on or about July 22, 2017.

Canada Carbon Inc. (TSXV: CCB), meanwhile, reported that Québec’s Agricultural Board has reversed its decision to suspend its review of the Company’s CPTAQ application. Canada Carbon stock popped 27% to $0.165 following the announcement.

Finally, Enforcer Gold Corp. (TSXV: VEIN) shares rose 2% to $0.21 after the gold explorer provided an update of its exploration activities at the Montalembert Gold Project in Quebec, which included the discovery of what the Company called “high-grade gold mineralization” in a new exposure along the No. 2 Vein.

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Disclosure: Neither the author nor any of the principals at Small Cap Power, or their family members, own shares in any of the companies mentioned above.

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