Inside the Market’s roundup of Canadian small caps making news and on the move today. This post will be updated during the trading day.
The precious metals arm of private equity firm Waterton Global Resource Management has hiked its hostile bid for Chaparral Gold Corp. by 10 per cent, up to 55 cents cash per share from 50 cents. The new valuation puts the gold miner at $64.7-million, up $5.9-million. Waterton also withdrew a requirement that the firm would receive two-thirds of the company's shares. Chaparral has consistently rebuffed the bid, stating that Waterton's valuation is too low and that the company would be "aggressively pursuing value-enhancing alternatives," according to a March press release.