Junior up 119% on going private proposal

Stockhouse Canadian Small and Micro-cap Stock Report for Monday, May 6, 2013 VANCOUVER (SHfn) –

Second Wave Petroleum Inc. (TSX: T.SCS, Stock Forum) soared 119% to 28.5 cents on Monday after the junior oil and gas company said that it had entered into an agreement with Brookfield Bridge Lending Fund, the company's controlling shareholder, to issue a $17.5 million principal amount 7.5% secured convertible debenture to meet immediate capital requirements, and has also received a non-binding proposal from Brookfield to effect a going private transaction at a cash price of $0.30 per share, representing a significant premium to the current market price. A special committee of independent directors of the company been formed to consider the going private proposal and direct the company's response.

TAD Mineral Exploration Inc. (TSX: V.TJ, Stock Forum)climbed 40% to 3.5 cents after the junior resources company announced it had acquired approximately 2,165 acres of land prospective for copper and gold near the village of Iskut, British Columbia. This new prospect is in the vicinity of the recent discovery made on Colorado Resources Ltd.'s (TSX: V.CXO, Stock Forum) North Rok Property that retuned grades of 242 metres of 0.63% copper and 0.85% gold.

Fission Uranium Corp. (TSX: V.FCU, Stock Forum) rose 1.9% to 55 cents after the exploration and development company reported results from an extension of the previous radon survey in January to February 2013 that led to the target selection of the first high grade holes drilled at Zones R390E and R780E at Patterson Lake South, located in the Athabasca Basin in Saskatchewan. The survey extension, which was completed April 21, 2013, covered 220 stations on a grid with sample spacing 25 metres North-South by 50 metres East-West. The highlight was strongest radon-in-water anomaly to date of 13.3 pCl/L located approximately 170 metres northeast along strike of the R780E Zone.