Energy Penny stock Arsenal Energy Inc. (TSE:AEI) moves up after the company announces the sale of all its oil and natural gas properties in the United States
Sean Mason | May 27, 2016 | SmallCapPower
Property sales gave an energy penny stock a jolt Friday, while a medical play was rocked by financial results. Here’s some small stocks making big moves on Friday, May 27, 2016 (as of 4 pm EST):
Arsenal Energy Inc. (TSE:AEI) shares powered 33% higher to $1.46 on Friday after the oil and gas producer/explorer announced the sale of all its oil and natural gas properties in the United States for a price of US$34 million. The Company added that it will also sell 250 boe/d of Canadian production for total proceeds of $8.7 million.
As well, shares of LED Medical Diagnostics Inc. (CVE:LMD) slid 15% to $0.11 as the provider of diagnostic imaging products and software for the dental industry said its first-quarter net revenue fell 12% to $2,153,250, while its net loss for the quarter widened to $2,051,827 from $1,489,924 during the same period last year.
Monarques Gold Corporation (CVE:MQR), meanwhile, reported that it has entered into two private placement agreements with companies controlled by Robert McEwen and Greg Chamandy, at a price of $0.175 per share, for total gross proceeds of $3 million. Monarques Gold stock moved up 45% to $0.275 following the announcement.
In addition, shares of SunOpta Inc. (TSE:SOY) climbed 27% to $6.32 after an activist investor, Tourbillon Capital Partners, send a letter to its Board to push the organic and specialty foods provider to explore strategic alternatives, which could include the sale of the Company.
Finally, Gold Bullion Development Corp. (CVE:GBB) shares rose 17% to $0.14 as the gold junior announced an updated Mineral Resource estimate on its Granada Gold Property in Quebec, which showed 1.8 million Measured & Indicated ounces grading 0.71 g/t gold as well as 1.7 million Inferred ounces grading 0.79 g/t gold, using a cut-off grade of 0.21 g/t gold.
Hi, did you know SmallCapPower accepts blog submissions? You can contact me here
The Content contained on this page (including any facts, views, opinions, recommendations, description of, or references to, products or securities) made available by SmallCapPower/Ubika Research is for information purposes only and is not tailored to the needs or circumstances of any particular person. Any mention of a particular security is merely a general discussion of the merits and risks associated there with and is not to be used or construed as an offer to sell, a solicitation of an offer to buy, or an endorsement, recommendation, or sponsorship of any entity or security by SmallCapPower/Ubika Research. The Reader should apply his/her own judgment in making any use of any Content, including, without limitation, the use of any information contained therein as the basis for any conclusions. The Reader bears responsibility for his/her own investment research and decisions. Before making any investment decision, it is strongly recommended that you seek outside advice from a qualified investment advisor. SmallCapPower/Ubika Research does not provide or guarantee any financial, legal, tax, or accounting advice or advice regarding the suitability, profitability, or potential value of any particular investment, security, or information source.