Microcap Report: NexGen (C.N) active on weed latest, Anthem (V.AYN) skyrockets

Next Gen Metals (C.N, StockForum) was down 3.8% to 50 cents Tuesday on news that the company has appointed Howard Fitch of Market Edge Media to assist the company's wholly-owned subsidiary, GreenRush Financial Conferences, in the coordination of the first two medical marijuana investment conferences scheduled later this year in Vancouver and Toronto.

According to the news release, Fitch has over 25 years experience throughout the conference industry and is expected to establish GreenRush as the industry leader in providing investment conferences for the emerging medical marijuana, industrial hemp and alternative medicine investment communities.

Anthem Resources Inc. (TSX: V.AYN, Stock Forum) skyrocketed 108% to 12.5 cents after the company announced that its 35.6%-owned affiliate Boss Power Corp. (TSX: V.BPU, Stock Forum) has signed a binding letter of agreement with Anthony Beruschi and his related corporate entities setting out the terms and conditions upon which the parties will settle all of the legal disputes between them, and complete a divisive reorganization of Boss Power, pursuant to a plan of arrangement.

Under an agreement, Boss Power and the Beruschi Parties will settle for cancellation the mineral claims constituting the Blizzard uranium deposit and certain peripheral properties in British Columbia. Under an October, 2011 agreement, B.C. agreed to pay Boss Power $30 million, plus costs for the loss of economic value of the deposit as a result of the cancellation of the mineral claims.

Anthem owns 27.2 million Boss Power shares, or 35.6% of the company. When the reorganization is completed, Anthem is likely to become the majority shareholder of Boss Power, which was unchanged at 14 cents on Tuesday.