Energy Junior Gushes on Government Go Ahead

BlackPearl Resources Inc. (TSE:PXX), an energy junior, announced that its Blackrod project has received regulatory and environmental approval

Sean Mason | September 16, 2016 | SmallCapPower

Regulatory approval for an oil sands project pumped up shares of an energy junior Friday. Here’s some small stocks making big moves on Friday, September 16, 2016 (as of 4 pm EST):

BlackPearl Resources Inc. (TSE:PXX) shares jumped 7% to $1.33 on Friday after the energy junior announced that its 80,000 barrel per day commercial development application at Blackrod, located in the Athabasca Oil Sands, has received regulatory and environmental approval from the Alberta Energy Regulator and the Alberta government.

As well, shares of Concordia International Corp. (TSE:CXR) slid 19% to $7.12 as the international pharmaceutical company reaffirmed its full-year 2016 guidance, saying that it believes it has access to sufficient financial resources to manage its liabilities.

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Hamilton Thorne Ltd. (CVE:HTL), meanwhile, reported that it completed the acquisition of 100% of the operating assets of Embryotech Laboratories, Inc. for total consideration of about US$7.25 million. Hamilton Thorne estimates this transaction will be accretive to earnings in 2016 and is expected to add over US$5 million of revenue and more than US$1.5 million to EBITDA in calendar year 2017. Hamilton Thorne stock popped 45% to $0.275 following the announcement.

Related: Hamilton Thorne (CVE:HTL) – Top Company to Watch

See more Small and Micro Cap Market Movers Daily from Sean Mason. Tomorrow’s big stock market winners could be found here today!

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