Energy Services Stock Powers Higher on Asset Sale

Sean Mason | January 26, 2016 | SmallCapPower

An oil and gas play gushed on expectations of some much-needed cash Tuesday, while good news from a gold miner did little to win over investors. Here’s some small stocks making big moves on Tuesday, January 26, 2016 (as of 4 pm EST):

TCW logoTrican Well Service Ltd. (TSX: TCW) shares surged 84% to $1.38 on Tuesday after the provider of services to the oil & gas industry announced that it has agreed to sell its U.S. assets to privately-held Keane Group for a total consideration of US$247 million, $200 million of which will be paid in cash.

As well, shares of Gran Colombia Gold Corp. (TSX: GCM) sank 23% to $0.085 as the precious metals miner said its total gold production for the fourth quarter of 2015 was 30,051 ounces, up 3.5% from the same period last year.

Pivot Technology Solutions, Inc. (TSXV: PTG), meanwhile, reported that it has entered into an arrangement agreement to convert its Common Shares to Preferred Securities with a face value equivalent of $0.70 per Common Share. It will also increase its yearly payout three-fold, representing an annual yield of 12.85%. Pivot Technology stock moved up 4% to $0.55 following the announcement.

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