Mettrum Health Corp. (CVE:MT), a marijuana stock, flied higher after agreeing to be acquired by Canopy Growth Corporation (TSE:CGC)
Sean Mason | December 1, 2016 | SmallCapPower
A big takeover deal sparked speculation in a marijuana stock Thursday. Here’s some small stocks making big moves on Thursday, December 1, 2016 (as of 4 pm EST):
Marijuana stock Mettrum Health Corp. (CVE:MT) surged 28% to $7.60 on Thursday after announcing that it has agreed to be acquired by Canopy Growth Corporation (TSE:CGC) in an all-stock transaction valued at approximately C$430 million. Mettrum shareholders will be entitled to receive 0.7132 common shares of Canopy Growth for each common share of Mettrum held.
Related: Mettrum Health (CVE:MT) Looks Beyond Marijuana For Growth
As well, shares of Magor Corporation (CVE:MCC) plunged 80% to $0.005 as the visual collaboration software developer said it has filed a Notice of Intention to Make a Proposal pursuant to the provisions of Part III of the Bankruptcy and Insolvency Act.
Continental Gold Inc. (TSE:CNL), meanwhile, reported that it has received an environmental permit for its Buriticá project in Colombia. Continental Gold stock moved up 19% to $3.98 following the announcement.
Finally, AnalytixInsight Inc. (CVE:ALY) shares jumped 31% to $0.235 after the Big Data analytics company announced that it has agreed to acquire certain assets of Euclides Technologies, Inc., a Systems Integrator and consulting partner for field service management solutions with annual revenues of about US$4 million.
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