The question facing each investor is how quickly they will need to dump equities as financial conditions tighten.Getty Images/iStockphoto
Our roundup of Canadian small-caps making news and on the move today. This post will be updated through the morning.
Burcon NutraScience Corporation said it closed a non-brokered private placement of 660,000 shares at a price of $2.50 (U.S.) per share on Thursday. Shares gapped higher to open more than 14 per cent in positive territory.
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Carfinco Financial Group Inc. said it has entered into a letter of intent to sell one of its subsidiaries. This move was required by Banco Santander, S.A., which is set to acquire the consumer vehicle loans company. Shares of Carfinco were up double digits at the open.
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Knight Therapeutics Inc. said it will be providing Synergy Strips Corp. with a secured loan of $6-million (U.S.) to fund the acquisition of a product line. Knight will receive 15 per cent interest on this loan. It also obtained the exclusive sales rights for Synergy's brands in Canada, Israel, South Africa, and Russia in exchange for cost of goods plus a supply profit.
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EXO U Inc., a software provider, said it is "not aware of any material change in its business or prospects that has not been disclosed and that would justify the decrease in its share price." Shares have fallen by two-thirds over the past three months.
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Serinus Energy Inc. said that legislation passed in Ukraine and the drop-off in commodity prices would weigh on its planned capital expenditures for the year ahead. The company set its 2015 capital budget at $17-million (U.S.).
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Tethys Petroleum Ltd. said its subsidiary in Kazakhstan has had its production contract extended for another 15 years through the end of 2029. "This very important gas production contract extension follows on from the Akkulka Exploration Contract Extension earlier this month, and is another manifestation of the good working relationship that the Company has worked hard to build up with the Kazakh authorities," said executive chairman John Bell. "We see very good growth potential in the gas business over next few years both in terms of pricing and volume and this approval of Kyzyloi for an additional 15 years provides a solid production base from which to achieve this growth."
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More to come.