Stockhouse Canadian Small and Micro-cap Stock Report for Tuesday, January 3, 2012
TORONTO (SHfn) – Vero Energy (TSX: T.VRO, Stock Forum) shares climbed 27% to $2.65 on Tuesday after the oil and gas producer/explorer said it has entered into an asset purchase and sale agreement for the divestiture of certain natural gas assets of the company to a private oil and gas company for gross proceeds of $209 million. It is anticipated that Vero will convene a meeting of Vero shareholders in the next 60 days to approve the proposed cash distribution, representing approximately 30 cents per outstanding Vero share on a non-diluted basis.
As well, shares of Isotechnika Pharma (TSX: T.ISA, Stock Forum) added 13% at 13.5 cents as the biopharmaceutical company announced that it has signed a Global Development and Commercialization License agreement with Vifor Pharma, granting Vifor an exclusive license for Isotechnika's lead drug, voclosporin, for the treatment of lupus and all proteinuric nephrology indications.
Liberty Mines (TSX: T.LBE, Stock Forum), meanwhile, reported that it has executed its right to purchase half of the two percent Hart net smelter royalty from Canadian Arrow Mines for a lump sum payment of $1 million. The Hart nickel project is located near Timmins, Ontario. Liberty Mines stock popped 13% to 13 cents.
And, Enhanced Oil Resources (TSX: V.EOR, Stock Forum) Tuesday said its crude oil production has averaged approximately 300 barrels of oil per day (bopd) for December 2011, a decrease of about 25% since November. Enhanced Oil shares sank 17% to 12 cents.
| Top Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern) |
| Top Canadian Small/Micro-cap Decliners |
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