Oil & Gas Junior Gushes on Hydrocarbon Legislation

Questerre Energy Corporation (TSE:QEC), an oil & gas junior, moved up after announcing that Quebec has approved a bill to amend the Petroleum Resources Act

Sean Mason | October 12, 2016 | SmallCapPower

Government legislation could pave the way for big gains for an oil & gas junior Wednesday. Here’s some small stocks making big moves on Wednesday, October 12, 2016 (as of 4 pm EST):

Questerre Energy Corporation (TSE:QEC) shares shot up 41% to $0.38 on Wednesday after the oil & gas junior announced that the National Assembly in Quebec has approved a bill to amend the Petroleum Resources Act that will govern the development of petroleum resources in Quebec.

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As well, shares of Memex Inc. (CVE:OEE) slipped 11% to $0.325 as the provider of a technology platform to boost manufacturing productivity said Dave Edstrom has resigned as the CTO of MEMEX effective Monday, October 10, 2016, to pursue personal interests.

Intellipharmaceutics International Inc. (TSE:I), meanwhile, reported that it has entered into a license and commercial supply agreement with Mallinckrodt LLC, by which the Company has granted Mallinckrodt an exclusive license to market, sell and distribute in the United States some of its extended release drug product candidates for which Intellipharmaceutics has abbreviated new drug applications filed with the U.S. Food and Drug Administration. Intellipharmaceutics stock moved up 13% to $3.94.

Finally, TekModo Industries Inc. (CVE:TEK) shares surged 65% to $0.215 after the manufacturer and distributor of advanced composite panels that are currently being used in the walls, roofs, floors and doors of recreational vehicles, buses and trailers announced that additional products are expected to be commercialized in the next few months that would boost its annual market opportunity to US$432 million.

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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