Calyx Bio-Ventures (TSX-V:CYX, StockForum) rose 23.5% to 10.5 cents Wednesday after the Vancouver company said it had reached an agreement with BDC Capital and Agrisoma Biosciences where Calyx agreed to waive its pre-emptive right to allow a third party to finance Agrisoma.
According to the news release, the proposed financing, if concluded without Calyx's involvement, will dilute the company's stake in Agrisoma from 49.96% to approximately 29%. The decision not to participate in the Agrisoma financing was due to the board's determination that Agrisoma had not progressed as expected and any options for financing Agrisoma would not be satisfactory to Calyx shareholders.
Powertech Uranium (TSX:PWE, StockForum) jumped 14.3% to 8 cents. The Greenwood Village Colorado-based firm engaged in the exploration and development of uranium properties, announced today that the US Nuclear Regulatory Commission (“NRC”) had handed down a Final Source and Byproduct Materials License for its Dewey-Burdock Project located in southwestern South Dakota.
According to the news release, the license is the result of the most comprehensive three major agency authorization process for the construction and operation of the Dewey-Burdock project.
| Select Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern) |
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25.00% |
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25.00% |
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23.53% |
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21.05% |
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-23.46% |
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