Stockhouse Canadian Small and Micro-cap Stock Report for Thursday, April 19, 2012
TORONTO (SHfn) – Raging River Exploration (TSX: V.RRX, Stock Forum) shares surged as much as 12% to $2.30 on Thursday after the oil and gas producer reported that it has entered into an agreement to acquire focused Viking light oil assets in Saskatchewan from an unnamed energy producer. Raging River is acquiring 175 bbls/d of high netback Viking light oil production and 21.5 net sections of undeveloped land for a total consideration is approximately $30.5 million. The property has Proved plus Probable Reserves of 1.07 million boe.
As well, shares of MedX Health (TSX: V.MDX, Stock Forum) rose 17% to 14 cents on volume of more than 1.2 million shares as the provider of low level laser light therapy and light imaging systems announced that it has been granted two new patents, with another 23 patents pending. Both patents focus on the use of light to capture images within the skin from a distance using a digital camera or similar device.
Vaaldiam Mining (TSX: T.VAA, Stock Forum), meanwhile, said it has entered into an agreement under which BCKP Limited, a private company, has conditionally agreed to acquire all of the outstanding common shares of Vaaldiam for $18.5 million, or about 25.8 cents per share in cash. Vaaldiam stock popped 104% to 24.5 cents on more than 4.2 million shares traded.
And, Avanti Mining (TSX: V.AVT, Stock Forum) Thursday reported that it has entered into a mandate letter with five lenders for up to $640 million of project financing to develop the Kitsault molybdenum mine in British Columbia. Avanti shares added 20% at 12 cents.
| Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern) |
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