Lightstream Resources (TSX: LTS, Forum) saw some sun in the markets today on no material news. The company last published a statement at the end of December regarding the resignation of Craig Lothian from the company’s Board of Directors.
According to that
news release, there was no reason given for Lothian’s departure, just a ‘thank you’ note for his efforts. Traders speculated today’s rise and the recent spate of insider buying indicated that there was a possible sale of assets or buy out in the works, but there is nothing to materially to back up that postulation.
Shares were up 17.24% to $0.34 per share.
Orbite Technologies (TSX: ORT, Forum) took a southward turn on the boards today in the wake of the company’s announcement of a bought deal financing yesterday, where the company entered into an underwriting agreement with Euro Pacific Canada.
According to the
news release, the underwriter has agreed to buy on a bought deal basis 4,000 units of Orbite at a price of $1,000 per unit for gross proceeds of $4.0 million. The underwriter also has the option at any time within 30 days of closing to purchase up to an additional 6,000 units for additional gross proceeds of up to $6.0 million. Some investors weren’t happy with the move and were even less pleased with the company’s performance.
Shares were down 20.00% after a trading halt was lifted this morning to $0.32 per share.
| Select Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern) |
| Lightstream Resources Ltd. (T.LTS, Stock Forum) |
17.24% |
| HudBay Minerals Inc. (T.HBM, Stock Forum) |
15.97% |
| Nobilis Health Corp. (T.NHC, Stock Forum) |
13.08% |
| Pacific Exploration & Production Corporation (T.PRE, Stock Forum) |
12.50% |
| Merus Labs International Inc. (T.MSL, Stock Forum) |
10.81% |
| Select Canadian Small/Micro-cap Decliners (as of 4:00 PM Eastern) |
| Orbite Technologies Inc. Class A Shares (T.ORT, Stock Forum) |
-20.00% |
| Newalta Corporation (T.NAL, Stock Forum) |
-9.03% |
| Trican Well Service Ltd. (T.TCW, Stock Forum) |
-6.63% |
| Sophiris Bio Inc (SPHS, Stock Forum) |
-5.39% |
| Horizons BetaPro S&P\/TSX Global Gold Bear Plus ETF (T.HGD, Stock Forum) |
-4.84% |