Water Treatment Stock Flows Higher on Takeover Offer

Ovivo Inc. (TSE:OVI.A), a water treatment stock, gushed after agreeing to be acquired by SKion GmbH

Sean Mason | July 13, 2016 | SmallCapPower

A water treatment stock made a big splash on Wednesday, while a few investors soured on a recapitalization plan. Here’s some small stocks making big moves on Wednesday, July 13, 2016 (as of 4 pm EST):

Water treatment stock Ovivo Inc. (TSE:OVI.A) shares surged 28% to $3.98 on Wednesday after the provider of equipment for the treatment of water and wastewater announced that it has agreed to be acquired by SKion GmbH for a purchase price of $4.00 per share in cash.

BM picDid you know that Ovivo was a Top Pick of Selective Asset Management President Bob McWhirter less than one month ago? Find out more by watching our interview with him here >>

As well, shares of Lightstream Resources Ltd. (TSE:LTS) slipped 10% to $0.18 as the oil and gas producer/explorer said it has proposed a recapitalization plan that it expects will reduce its overall debt by approximately US$904 million.

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Mesa Exploration Corp. (CVE:MSA), meanwhile, reported that it has completed the first phase shallow auger brine sampling program on its 100% owned Sal Rica lithium project in Utah, with 11 brine samples yielding lithium concentrations as high as 80 ppm lithium, averaging 66.4 ppm lithium. Mesa Exploration stock popped 136% to $0.165 following the announcement.

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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