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Athabasca Oil (T.ATH) up 8.8%: Canadian market movers

Elizabeth Walters Elizabeth Walters, Stockhouse
0 Comments| September 27, 2013

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Here are the most active stocks on Friday mid-morning on the TSX and TSX Venture Exchange.

On Friday, the top TSX mover was Athabasca Oil Corp. (TSX: T.ATH, Stock Forum). It rose 8.8% and was trading at $7.93 on volume of 2.5 million shares.

On September 18, the diversified energy company entered into an option agreement with a third party giving the right to Athabasca, at its discretion, to sell up to a 50% interest in its Kaybob area light oil infrastructure, located in northwestern Alberta, for cash consideration of up to $145 million.

Sulliden Gold Corporation Ltd. (TSX: T.SUE, Stock Forum) was the second most active stock on the TSX. The stock was up 3.2% and trading at $0.98 on volume of 2.2 million.

On September 19, the mineral exploration and development company said that it has entered into an agreement with National Bank Financial Inc. and Scotia Capital as co-lead underwriters, on behalf of a syndicate of underwriters, for the issuance of 39.3 million common shares of the company, on a bought deal basis, at a price of $1.02 per share for gross proceeds of $40.1 million. The net proceeds of the offering will be used to help fund the development of the Shahuindo project, located in a prolific gold-producing district in northern Peru, and for general corporate purposes.

Madalena Energy Inc. (TSX: V.MVN, Stock Forum) was the volume leader on the TSX Venture Exchange. It gained 9.0% and was trading at $0.485 on volume of 3.1 million.

The exploration and development company had no related news to explain the high volume in trading.

The second most active stock on the TSX Venture was Novus Energy Inc. (TSX: V.NVS, Stock Forum) It put on 0.9% and was trading at $1.13 after 2.1 million shares changed hands.

On September 20, the alternative energy company reported that it's Vice President of Operations; John M. (Jack) Lane had passed away after a brief illness.


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