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Mobile Commerce Stock Climbs on Acquisition

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Reading time: 3 min.

Fireswirl Technologies Inc. (TSXV: FSW), a mobile commerce stock, moved higher after acquiring 40% of AMZON (HK)

Sean Mason | March 24, 2017 | SmallCapPower

A Hong Kong acquisition likely made more than a few mobile commerce shareholders happy Friday. Here’s some small stocks making big moves on Friday, March 24, 2017 (as of 4 pm EST):

Fireswirl Technologies Inc. (TSXV: FSW) shares powered 73% higher to $0.095 on Friday after the mobile commerce solutions provider announced that it has completed the acquisition of 40% of the outstanding common shares of AMZON (HK) Limited for a total purchase price of approximately C$800,000. Fireswirl expects to complete the acquisition of an additional 10% of the outstanding shares for about C$200,000 within 30 days and an additional 10% for about C$200,000 within 30 days thereafter. AMZON is in the business of providing multimedia and interactive marketing solutions, specializing in 3D visualizations, computer graphics and digital design.

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As well, shares of Fairmont Resources Inc. (TSXV: FMR) slipped 17% to $0.075 as the industrial mineral and dimensional stone company said it has elected to not proceed with a proposed financing from a European funding group due to certain discrepancies identified by the Spanish courts. As a result, Fairmont will be pursuing alternative methods of financing for the Grabasa acquisition.

Hinterland Metals Inc. (TSXV: HMI), meanwhile, reported that it has staked 175 cobalt claim units (2,800 hectares) in four blocks located in the Gowganda area of northeastern Ontario. Hinterland Metals stock moved up 29% to $0.045 following the announcement.

Finally, First Global Data (TSXV: FGD) shares jumped 11% to $0.98 after the FinTech company announced that it plans to accelerate its efforts to obtain the balance of its money service licenses in the United States. First Global currently has money service licenses in 21 States and has taken the requisite actions to obtaining licensing in the other 29 States.

See more Small and Micro Cap Market Movers Daily from Sean Mason. Tomorrow’s big stock market winners could be found here today!

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