TORONTO (SHfn) – A junior coal miner climbed on news of an intended acquisition offer, while the same could be said for a Calgary-based power generation firm.
Shares of Hillsborough Resources (TSX:T.HLB, Stock Forum) surged more than 41% to 44.5 cents, after Vitol Anker International B.V., a wholly owned subsidiary of the Vitol Group, announced its intention to make an offer to acquire all of the common shares of the company that it does not currently own for 45 cents per share. Vitol Anker says it has entered into a lock-up agreement in support of the intended offer with holders approximately 9% of the outstanding Hillsborough common shares.
Calgary-based Canadian Hydro Developers (TSX: T.KHD, Stock Forum) shares soared 34% to $4.90 Monday, after TransAlta Corporation (TSX: T.TA, Stock Forum) said that it plans to make an all-cash offer to acquire the company for $4.55 per share. The proposed transaction has an enterprise value of approximately $1.5 billion. Canadian Hydro Developers operates 694 megawatts of wind, hydro and biomass facilities in Alberta, Ontario, Quebec and British Columbia.
Communications company Cossette Inc. (TSX: T.KOS, Stock Forum) announced that it received an unsolicited and non-binding proposal from Cosmos Capital, to acquire the company for of $4.95 per share. The company said it has convened a meeting of its board of directors in order to consider the proposal. Shares of Cossette climbed 58% to $5.15.
Metals Creek Resources (TSX: V.MEK, Stock Forum) reported that recent prospecting at Porphyry Hill have returned assays up to 64.4 g/t gold in grab samples on its Ogden Gold property in Timmins, Ontario. Metals Creek says a total of 46 samples were collected with assays ranging from 0.006 g/t to 64.4 g/t gold, and that abundant quartz veining and stock work is present throughout the 425m by 150m porphyry unit. Shares of the company jumped more than 16% to 14 cents.
And, Stem Cell Therapeutics Corp. (TSX: V.SSS, Stock Forum) saw its shares gain 10% to 16 cents, as the biotech company says it has received a No Objection Letter from Health Canada for the modified Regenesis protocol using NTx(R)-265 for a Phase IIb clinical trial treating acute ischemic stroke. The company says this development means it can proceed with recruitment of patients.
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