Aston Hill Financial Inc. (TSE:AHF), a financial stock, climbed after announcing that it will merge with Front Street Capital 2004
Sean Mason | September 9, 2016 | SmallCapPower
A multi-billion dollar asset merger lifted a financial stock Friday. Here’s some small stocks making big moves on Friday, September 9, 2016 (as of 4 pm EST):
Aston Hill Financial Inc. (TSE:AHF) shares surged 81% to $0.145 on Friday after the diversified asset management company announced that it will merge with Front Street Capital 2004 to create an investment firm with $3.1 billion in assets under management. Aston Hill shareholders will own 41% of the combined company.
As well, shares of Royal Nickel Corporation (TSE:RNX) jumped 10% to $0.38 as the resource projects developer said it will issue 17,648,000 units at a price of $0.34 per unit in a bought deal private placement to investors, which include Eric Sprott, for gross proceeds of $6,000,320.
Reitmans (Canada) Limited (TSE:RET), meanwhile, reported that its second-quarter same store sales rose 6.3% while swinging to a quarterly profit of $9.0 million from a net loss of $0.2 million during the same period last year. Reitmans stock moved up 9% to $4.95 following the announcement.
Hi, did you know SmallCapPower accepts blog submissions? You can contact me here
DISCLAIMER
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.
