Dolly Varden Silver Corporation (CVE:DV), a silver penny stock, surged after receiving an unsolicited takeover bid from Hecla Mining Company
Sean Mason | June 28, 2016 | SmallCapPower
An unsolicited takeover attempt put the shine on a silver penny stock Tuesday. Here’s some small stocks making big moves on Tuesday, June 28, 2016 (as of 4 pm EST):
Silver penny stock Dolly Varden Silver Corporation (CVE:DV) surged 41% to $0.64 on Tuesday after acknowledging Hecla Mining Company’s unsolicited takeover bid for all of the issued and outstanding shares of Dolly Varden that Hecla does not own at price of C$0.69 per share in cash. The Company added that it has not received any formal bid for consideration from Hecla and advises that Dolly Varden’s shareholders take no action at this time.
As well, shares of Sandstorm Gold Ltd. (TSE:SSL) slipped 10% to $5.69 as the gold streaming and royalty company said it has entered into a US$50 million bought deal financing agreement at a price of US$4.45 per common share.
BIOX Corporation (TSE:BX), meanwhile, reported that it has entered into a 50/50 joint venture with World Energy to acquire and operate a 90 million U.S. gallon (341 million litre) biodiesel production facility in Houston, Texas. BIOX stock popped 48% to $0.74 following the announcement.
In addition, shares of Thor Explorations Ltd. (CVE:THX) climbed 136% to $0.13 as the junior explorer said it has entered into an agreement to acquire a 100% interest in the Segilola gold project in Nigeria.
Finally, Prism Medical Ltd. (CVE:PM) shares powered 31% higher to $12.40 after the provider of equipment for the mobility challenged announced that it has agreed to be acquired by Handicare Group AB for $12.50 per share in cash.
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