Solar Alliance Energy Inc. (CVE:SAN), a solar energy stock, climbed after announcing a Letter of Intent to acquire Aries Solar, LLC
Sean Mason | July 10, 2017 | SmallCapPower
An acquisition south of the border put the spotlight on a solar energy stock Monday. Here’s some small stocks making big moves on Monday, July 10, 2017 (as of 4 pm EST):
Solar Alliance Energy Inc. (TSXV: SAN), a solar energy stock, powered 17% higher to $0.105 on Monday after announcing that it has signed a Letter of Intent with Thompson Machinery Commerce Corporation to acquire Aries Solar, LLC, a Tennessee commercial solar company that is licensed to operate in four southeast U.S. states, for a contingent payment purchase price of US$1 million. The Company added that Aries has a pipeline of commercial projects with a potential revenue of ~US$18 million (unaudited).
As well, shares of Canada Carbon Inc. (TSXV: CCB) sank 24% to $0.13 as the graphite junior said it was recently informed of the decision of Québec’s Agricultural Board to suspend its review of the Company’s CPTAQ application until December 31, 2017, due to ongoing legal proceedings regarding the validity of municipal zoning by-laws applicable to the Miller Project area.
Clean Commodities Corp. (TSXV: CLE), meanwhile, reported that it has significantly expanded the tenure base of its Ogilvie Quarry Zeolite Project located in Nova Scotia, through the acquisition of a further 30 mineral claims, bringing the project claim base to 34 mineral claims. Clean Commodities stock moved up 29% to $0.09 following the announcement.
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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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