Resource Junior Soars on Takeover Bid

Nevsun Resources Ltd is set to acquire this prospect generator

Sean Mason | April 25, 2016 | SmallCapPower

More M&A activity in the mining space was good news for some shareholders Monday, while others soured on a proposed placement. Here’s some small stocks making big moves on Monday, April 25, 2016 (as of 4 pm EST):

RMC logoReservoir Minerals Inc. (CVE:RMC) shares shot up 20% to $8.35 on Monday after the mineral exploration and development company announced that it has agreed to be acquired by Nevsun Resources Ltd. (TSE:NSU) in a transaction valued at approximately $365 million. Reservoir shareholders will receive two shares of Nevsun and $0.001 in cash for each Reservoir share held.

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As well, shares of FLYHT Aerospace Solutions Ltd. (CVE:FLY) slipped 11% to $0.17 as the provider of real-time aircraft intelligence and cockpit communications said it has proposed a private placement offering of up to $5 million at a subscription price of $0.15 per unit.

Niko Resources Ltd. (TSE:NKO), meanwhile, reported that it has now received executed support agreements from 100% of its institutional lenders for the previously-disclosed strategic plan of maintaining its core assets for a period of time with the goal of enhancing the value of such assets for the benefit of all of the Company’s stakeholders. Niko Resources stock popped 65% to $0.255.

Finally, Acerus Pharmaceuticals Corporation (TSE:ASP) shares rose 9% to $0.19 after the Canadian pharmaceutical company announced the execution of a long-term, exclusive license agreement with Aytu BioScience, Inc. for the U.S. commercial rights to Natesto (testosterone) Nasal Gel, the first and only nasal formulation of testosterone approved by the U.S. Food and Drug Administration (FDA) as a replacement therapy for men diagnosed with hypogonadism (low testosterone).

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