MGM Energy Corp. (
TSX: T.MGX,
Stock Forum) fell 20% to 16 cents Tuesday after the company said it has received a proposal from
Paramount Resources Ltd. (
TSX: T.POU,
Stock Forum) that would result in Paramount purchasing all of the MGM shares not currently owned by Paramount.
Paramount currently owns 54.1 million MGM common shares or 13.9% of the issued and outstanding shares. Clayton Riddell, CEO of both Paramount and MGM Energy, currently owns 122.8 million shares of MGM Energy or 31.6% of the outstanding shares. Riddell is supporting the transaction,
MGM said in a press release.
RDX Technologies (TSX-V:RDX, StockForum) was down 8.2% to 39 cents. The Scottsdale Arizona-based water treatment and management firm, announced today that Global Emerging Markets, along with affiliates GEM Holdco and GEM Ventures, principals Christopher Brown and Edward Tobin and consultant Demetrios Diakolios, has launched a defamation suit against Ridgeline Energy Services, now known as RDX Technologies.
According to the news release, the legal claim names Dennis Danzik, CEO and director of RDX; Tony Ker, chairman of the RDX board of directors; Bruce MacFarlane, director of RDX; Richard Carrigan, director of RDX; Douglas Johnson, former director of Ridgeline; and Kelly Sledz, former director of Ridgeline, as defendants in the case.
| Select Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern) |
| Satori Resources Inc. (V.BUD, Stock Forum) |
185.71% |
| Burcon Nutrascience Corporation (T.BU, Stock Forum) |
22.37% |
| Titan Medical Inc. (V.TMD, Stock Forum) |
16.00% |
| Probe Mines Limited (V.PRB, Stock Forum) |
10.45% |
| BSM Technologies Inc. (V.GPS, Stock Forum) |
10.41% |
| Select Canadian Small/Micro-cap Decliners (as of 4:00 PM Eastern) |
| Ballard Power Systems Inc. (T.BLD, Stock Forum) |
-25.95% |
| Rodinia Lithium Inc. (V.RM, Stock Forum) |
-23.08% |
| Hydrogenics Corporation (T.HYG, Stock Forum) |
-15.10% |
| Energy Fuels Inc. (T.EFR, Stock Forum) |
-13.15% |
| Fortress Paper Ltd. (T.FTP, Stock Forum) |
-12.92% |