Tech Stock Soars on Acquisition Agreement

Mood Media Corporation (TSE:MM), a tech stock, powered higher after agreeing to be acquired for $0.17 per share in cash

Sean Mason | April 13, 2017 | SmallCapPower

A takeover deal likely put one group of tech stock investors in a good mood Thursday. Here’s some small stocks making big moves on Thursday, April 13, 2017 (as of 4 pm EST):

Tech stock Mood Media Corporation (TSX: MM) surged 154% to $0.165 on Thursday after announcing that it has agreed to be acquired by affiliates of several of its key stakeholders, including an affiliate of certain funds managed by affiliates of Apollo Global Management, LLC, for $0.17 per share in cash.

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As well, shares of Purepoint Uranium Group Inc. (TSXV: PTU) slipped 9% to $0.10 as the uranium explorer said drill results from the Dragon Zone at the Hook Lake JV, resulted in the discovery of favourable clay alteration of basement hosted rocks that host hydrothermal quartz, graphitic shears and elevated radioactivity, although no drilling has yet been completed at the Hawk Zone or the Sabre Zone.

Convalo Health International, Corp. (TSXV: CXV), meanwhile, provided a corporate update, saying that it is on track to have a net profit before stock-based compensation for the fiscal first quarter ending May 30, 2017. Convalo Health stock moved up 4% to $0.12 following the announcement.

Finally, Marathon Gold Corporation (TSX: MOZ) shares climbed 15% to $1.26 after the gold explorer announced the intersection of wide intervals of stacked quartz-tourmaline-pyrite veining with visible gold in the deepest holes drilled to date within the Marathon Deposit at Valentine Lake Gold Camp in Newfoundland, which included 2.10 g/t gold over 47.0 meters.

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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Disclosure: Neither the author nor any of the principals at Small Cap Power, or their family members, own shares in any of the companies mentioned above.

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