Small
stocks making big moves on Wednesday, April 15, 2015 (as of 4 pm EST), as
reported by Sean Mason, SmallCapPower.com
North American Palladium Ltd. (TSX: PDL)
shares plummeted 52% to $0.125 on volume of more than 13.7 million shares Wednesday
after the precious metals producer announced that it has entered into a recapitalization
agreement with Brookfield Capital Partners Ltd., which would involve the conversion
of all amounts owing to Brookfield into equity, resulting in Brookfield owning 92%
of North American Palladium shares and existing PDL shareholders owning 2% of
the post-recapitalization common shares.
As well,
shares of NeutriSci International Inc.
(TSXV: NU)
shot up 13% to $0.395 as the nutraceutical products provider said it has entered
into a five-year exclusive distribution agreement valued at US$7 million with South
Africa’s B-Well Medical Supplies (Pty) Ltd.
Parallel Energy Trust (TSX: PLT.UN),
meanwhile, reported that its Board of Directors has initiated a process to
explore a range of strategic alternatives to reduce indebtedness and maximize
unitholder value, which includes suspending all monthly distributions to
unitholders beginning in April 2015. Parallel Energy units sank 23% to
$0.24 following the announcement.
Finally, Raise Production Inc. (TSXV: RPC)
shares climbed 45% to $1.33 after the oilfield service company announced
that it has received the latest iteration of the part that had caused
previously disclosed malfunctions in the Horizontal Wellbore Production System
during test deployments. Raise Production added that this new part has been
performing successfully for over three weeks in an accelerated performance test
facility that closely resembles actual wellbore conditions.
