Sean Mason | November 20, 2015 |
SmallCapPower
Nevada
lithium plays continued to generate investor interest Friday, while the tax man
took down shares of an energy junior. Here’s some small stocks making big moves
on Friday, November 20, 2015 (as of 4 pm EST):
Noka Resources Inc. (TSXV: NX) shares climbed 25% to $0.05 on volume of
more than 2.6 million shares Friday after the resource junior announced that it
has entered into an agreement with arms-length vendors to acquire a 100%
interest in the Columbus Lithium Project in Nevada. Under the terms of the
agreement, Noka can earn a 100% interest in the Project by issuing 1.6
million common shares to each of the vendors, for a total of 3.2 million
common shares. The Company must also make cash payments totaling $450,000 over
the next three years, with the initial payment being due in December 2016, and
incur no less than $1 million in exploration expenditures within 36 months of
the agreement.
As well, shares
of Bankers Petroleum Ltd. (TSX:
BNK) slid 21% to $1.65 as the oil and gas producer/explorer said it has
applied for an injunction through the International Chamber of Commerce to
provide protection against enforcement of the previously announced Albanian tax
assessment until the conclusion of the agreed upon third-party international
audit. On November 19, 2015, Bankers received notification that the
Albanian tax department has suspended the use of the Company’s Albanian bank
accounts used to pay local suppliers in an attempt to collect an amount of $75
million, increased due to assessed interest and penalties from the previously
announced $57 million tax assessment.
Difference Capital Financial Inc. (TSX:
DCF), meanwhile, reported that its Board of Directors has approved the start
of an issuer bid, pursuant to which the Company will offer to purchase for
cancellation from shareholders up to $7 million of its outstanding common
shares. The range of Offer prices will be from $0.90 to $1.05 per share. Difference
Capital stock moved up 16% to $0.81 following the announcement.
Finally,
Slyce Inc. (TSXV: SLC) shares sank 31% to $0.20 after the visual
product search platform’s Board of Directors determined that it was their
belief that the unsolicited takeover offer by Quest Ventures at a price of
$0.85 per common share was without merit.
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