Cleantech Penny Stock Shines on Financing Announcement

OneRoof Energy, Inc. (CVE:ON), a cleantech penny stock, shot up after receiving US$50 million to finance its national growth strategy

Sean Mason | June 16, 2016 | SmallCapPower

A solar cleantech penny stock powered higher following much-needed financing Thursday, while a report tarnished a gold play. Here’s some small stocks making big moves on Thursday, June 16, 2016 (as of 4 pm EST):

ON logoCleantech penny stock OneRoof Energy, Inc. (CVE:ON) shot up 717% to $0.245 on Thursday after the residential solar services provider announced that certain of its affiliates have signed a US$50 million construction loan facility, which will be used to finance construction of new solar projects for the Company’s Solar 2.0 national growth strategy.

OneRoof Energy is a component company of the top-performing Ubika Sustainability 20 index. See the other stocks here >>

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As well, shares of Sabina Gold & Silver Corp. (TSE:SBB) sank 35% to $1.13 as the precious metals project developer said it has received the report of the Nunavut Impact Review Board to the Minister of Indigenous and Northern Affairs, which recommended that Sabina’s Back River Gold Project in Nunavut not proceed to the licensing and permitting regulatory phase at this time but indicated that the proposal could be reconsidered once more information is provided to address uncertainties regarding effects predictions and mitigation measures, particularly with respect to caribou and climate change.

Response Biomedical Corp. (TSE:RBM), meanwhile, reported that it has entered into a definitive agreement to go private for cash consideration of $1.12 per share. Response Biomedical stock popped 62% to $1.20 following the announcement.

In addition, shares of Electrovaya Inc. (TSE:EFL) continued to move higher, up 11% to $2.93. On Wednesday, its stock price surged 35% after the Company said it has signed a Letter of Intent with a Global Original Equipment Manufacturer for the delivery of battery modules for Residential Energy Storage with volume quantity deliveries starting early in the first quarter of 2017.

Finally, Pétrolia (CVE:PEA) shares jumped 15% to $0.30 after the oil and gas explorer announced that Ressources Québec Inc. is investing an additional $8.5 million in the Company’s Bourque Project.

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