Canadian issues that are moving on early news
EcoSynthetix Inc., which rose 8 per cent yesterday, announced today that it intends to make a normal course issuer bid to repurchase certain of its outstanding common shares. The number of shares to be purchased during the period of the bid from Aug. 20 to Aug. 19, 2013 will not exceed 2,348,261 shares being approximately 5 per cent of the outstanding shares as of Aug. 13, 2012.
Black Diamond Group Limited said its Board of Directors declared a dividend for the month of August of $0.06 per share to holders of common shares. The dividend will be paid on Sept. 17 to shareholders of record on Aug. 31. BDI closed at $21.30.
StrikePoint Gold Inc., which lost 10 per cent yesterday, announced today it has completed its first drill program on the Pokiok Batholith project in New Brunswick. Five holes were drilled in a concentrated area, totaling 1176 metres, at 45 degree dips in order to precisely localize the position of the fault zone.
Petroamerica Oil Corp. announced preliminary results of its Las Maracas-4 well drilled on the Los Ocarros Block in the Llanos Basin of Colombia. The well has reached total depth with electrical logs indicating more than 65 feet of prospective oil pay in the Mirador and Gacheta formations. Additionally, the Las Maracas-3 well is now producing approximately 2,000 barrels of oil per day from the Gacheta formation with an electro-submersible pump.
Ballard Power Systems, which hit a year low 98 cents yesterday, announced that it has received purchase orders for 102 fuel cell power generation systems to be delivered to the company’s new Southeast Asian distributor, Cascadiant Inc. The systems will be deployed in the networks of two wireless telecom customers in Indonesia, to provide reliable and cost-effective backup power in the event of grid outages.
Oliver Lennox-King, a significant shareholder of Roxgold Inc., responded to the recent announcement by Roxgold’s existing board of directors that it has established a special committee to “independently and objectively consider the issues raised by Roxgold shareholders.” Lennox-King previously announced that shareholders representing well in excess of 50 per cent of the outstanding Roxgold shares favour his dissident slate of nominees for the Roxgold board. Roxgold closed up 13 per cent Thursday after earlier hitting year lows.
Photon Control Inc., which last traded near a year low 4 cents, announced that the Court of Appeal for British Columbia has released an unfavourable decision in the litigation involving the company and John Kidder, who was formerly president of the company. The company said it is considering its options of further appeal regarding the decision.
Terrex Energy Inc., which last traded at year low levels, posted a second quarter net loss of $730,000 versus $345,000 a year earlier. Per share, basic and diluted was $0.009 versus $0.004.
CounterPath Corporation, a provider of desktop and mobile VoIP software products and solutions, announced that its common stock will commence trading on the Toronto Stock Exchange on Aug. 20 under the symbol CCV. The company will not issue any additional shares in connection with the TSX listing. The company will retain its listing on NASDAQ under the trading symbol CPAH.