Penny Stock Horizon North Logistics Inc. (TSE:HNL) agrees to acquire Karoleena Inc.
Sean Mason | May 5, 2016 | SmallCapPower
Some investors found a home in a temporary penny housing play Thursday, while a contract win wasn’t all good news. Here’s some small stocks making big moves on Thursday, May 5, 2016 (as of 4 pm EST):
Horizon North Logistics Inc. (TSE:HNL) shares surged 24% to $1.75 on Thursday after the provider of temporary accommodations for the energy, mining, and construction sectors announced that it has entered into an agreement to acquire Karoleena Inc. and its affiliates and has agreed in principle with DIRTT Environmental Solutions Ltd. for the utilization of their ICE Interactive Software.
As well, shares of exactEarth Ltd. (TSE:XCT) plunged 49% to $1.41 as the provider of global maritime vessel data for ship tracking said it has won a competitive procurement process for a contract with the Government of Canada for the provision of AIS maritime data services. The initial length of the Contract covers the period to March 31, 2017, with two one-year options. At the awarded contract value, however, this service represents a revenue level that is approximately $600,000 per month lower than the revenue level generated by exactEarth for satellite AIS data services that were provided to the Government for its domestic use last year.
Urban Communications Inc. (CVE:UBN), meanwhile, reported that its monthly recurring revenue reached a new record in April, surpassing $100,000 with 30% month-over-month growth in Urban’s enterprise segment. Urban Communications stock popped 19% to $0.095 following the announcement.
Finally, Kinaxis (TSE:KXS) shares jumped 11% to $46.85 after the provider of cloud-based subscription software announced that its first-quarter revenue rose 37% to $27.0 million, while its profit for the quarter was $0.14 per share, up from $0.10 during the same period last year.
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