Stockhouse Canadian Small and Micro-cap Stock Report for Wednesday, May 23, 2012
TORONTO (SHfn) – Pan Orient Energy (TSX: V.POE, Stock Forum) shares jumped 67% to $3.46 on volume of more than 2.9 million shares Wednesday after the oil and gas producer/explorer said it has entered into an agreement for the sale of its operated 60% interest in Thailand Concessions L44/43, L33/43 and SW1 for a cash price of US$170 million plus approximately US$8 million for working capital and other adjustments.
As well, shares of CardioComm Solutions (TSX: V.EKG, Stock Forum) moved up 51% to 46 cents on more than 2.1 million shares traded as the provider of ECG acquisition and management software solutions announced that it has received clearance from the Food and Drug Administration (FDA) for "prescription-use" sales and marketing of its hand-held heart rhythm monitor known as the HeartCheck ECG PEN.
Paragon Pharmacies (TSX: V.PGN, Stock Forum), meanwhile, reported that it has entered into a definitive asset purchase agreement in which Shoppers Drug Mart has agreed to purchase substantially all of the assets of Paragon for a cash purchase price of approximately $75 million. Paragon Pharmacies stock popped 128% to 57 cents.
And, Northern Iron (TSX: V.NFE, Stock Forum) Wednesday announced the receipt of an order from China Railway Materials Import and Export Co. Ltd. for 900,000 metric tonnes of Hot Briquetted Iron to be delivered in 2016, which equates to approximately two thirds of Northern Iron’s anticipated annual production, according to the company’s CEO. Northern Iron shares added 13% at 13 cents.
| Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern) |
| Top Canadian Small/Micro-cap Decliners |
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