Savanna Energy Services Corp. (TSE:SVY), an oilfield services stock, may get a bid from Total Energy Services Inc. (TSE:TOT)
Sean Mason | November 24, 2016 | SmallCapPower
A potential acquisition lifted an oilfield services stock Thursday. Here’s some small stocks making big moves on Thursday, November 24, 2016 (as of 4 pm EST):
Oilfield services stock Savanna Energy Services Corp. (TSE:SVY) gained 8% to $1.59 on Thursday after Total Energy Services Inc. (TSE:TOT) announced that it intends to make an offer to acquire all outstanding shares of Savanna Energy, in an all-stock transaction in which Savanna shareholders would receive 0.1132 of a common share of Total for each Savanna share held.
As well, shares of Canopy Growth Corporation (TSE:CGC) rose as much as 13% before ending up 3% to $10.75 as the medical cannabis producer said its wholly-owned subsidiary, Bedrocan Canada Inc., has successfully exported 10 kg of dried cannabis to Brazil for research purposes.
Saint Jean Carbon Inc. (CVE:SJL), meanwhile, reported that the Company and its battery manufacturing partner will build a high powered full scale lithium-ion battery with recycled/upcycling material from an electric car power pack and the upcycled anode material from Saint Jean Carbon. Saint Jean Carbon stock moved up 38% to $0.055 following the announcement.
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