Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Oroco Resource Corp. (OCO-X) announced that it has temporarily suspended its drilling operations at Santo Tomas “for safety and security reasons relating to an increase in federal military operations in the region resulting from a dispute between criminal elements.”
The company said it will provide a seasonal break for its drilling crews during the shutdown, “while maintaining its core-processing activities at Ranchito,” its central processing and storage facility.
Solaris Resources Inc. (SLS-T) announced an agreement with the Government of Ecuador in relation to an Investment Protection Agreement (IPA) for its Warintza Project in the southeastern part of the country.
“The IPA provides a foundation of certainty with respect to the legal framework governing the project, including stable mining regulations, security of title and investment for the term of the agreement, as well as significant new tax incentives to accelerate development,” the company stated.
It said specific tax incentives include a 5-per-cent reduction of income tax, fixing the income tax rate applicable to the company at 20 per cent, exemption from the capital outflow tax, as well as the exemption of all import duties for the import of goods needed for new investments in the project, the company stated.
Flagship Communities Real Estate Investment Trust (MHC-UN-T) announced a Canadian-dollar listing of its trust units on the Toronto Stock Exchange, effective June 13. The trust units will continue to trade in U.S. dollars under the existing symbol “MHC.U,” the company stated.
Rupert Resources Ltd (RUP-X) reported a loss of $2.6-million or a penny per share for its fourth-quarter ending Feb. 28 compared to $1.8-million or a penny per share a year ago, according to documents filed on Sedar.com. The gold exploration company has no revenue.
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