Fibre Optic Stock Soars on Takeover Deal

Sean Mason | March 9, 2016 | SmallCapPower

More cash in their pockets was good news for some shareholders Wednesday, while a financing hit a uranium miner hard. Here’s some small stocks making big moves on Wednesday, March 9, 2016 (as of 4 pm EST):

AXX logoAxia NetMedia Corporation (TSX: AXX) shares surged 47% to $4.20 on Wednesday after the fibre optic communications infrastructure services seller announced that it has agreed to be acquired by Partners Group for a cash payment of $4.25 per share, or a total equity value of approximately $272 million.

As well, shares of Energy Fuels Inc. (TSX: EFR) slid 16% to $3.11 as the uranium miner said it has entered into an Underwriting Agreement to sell 4,375,000 units of the Company at a price of US$2.40 per unit for gross proceeds of US$10.5 million.

Starcore International Mines Ltd. (TSX: SAM), meanwhile, reported that it has entered into a binding agreement to sell the San Pedrito Property in Queretaro, Mexico, which is expected to net the Company approximately US$7 million. Starcore stock moved up 20% to $0.455 following the announcement.

Finally, Titan Medical, Inc. (TSX: TMD) shares climbed 17% to $0.99 after the medical device company focused on the design and development of a robotic surgical system for application in minimally invasive surgery announced that it will make its first public unveiling and demonstration of its SPORT Surgical System at the upcoming Society of American Gastrointestinal and Endoscopic Surgeons Society 2016 Annual Meeting.

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