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Junior energy stock pops on reorg, investment

11/6/2009 5:14:52 PM | Sean Mason
2828 Reads | 2 Comments

There was a surprise ‘result’ for some shareholders Friday, while a wireless play ‘hopped’ sharply higher on a takeover agreement.

Stockhouse Canadian Small and Micro-cap Stock Report for Friday, November 6, 2009

TORONTO (SHfn) – There was a surprise ‘result’ for some shareholders Friday, while a wireless play ‘hopped’ sharply higher on a takeover agreement.

Result Energy (TSX: V.RTE, Stock Forum) shares soared 252% to 37 cents on Friday after the oil and gas explorer/producer said it has entered into a reorganization and investment agreement, which provides for a non-brokered private placement of up to $26 million, the appointment of a new management team and Board of Directors, and a rights offering to the current holders of Result common shares. The new management team is comprised of individuals who formerly led TriStar Oil & Gas Ltd. TriStar grew from 1,000 Boepd to more than 25,000 Boepd in just over 3 1/2 years.

As well, shares of Kangaroo Media (TSX: V.KTV, Stock Forum) skyrocketed 294% to 35.5 cents as the developer of hand-held wireless audiovisual multi-functional entertainment systems announced that it has entered into a definitive arrangement agreement for the acquisition of Kangaroo by Game Day Entertainment, LLC. Under the terms of the agreement, shareholders of Kangaroo will receive 40 cents in cash, for each common share of Kangaroo outstanding at closing, subject to a possible upward adjustment.

Shares of Points International (TSX: T.PTS, Stock Forum) jumped 16% to 37 cents after the loyalty reward solutions provider reported third-quarter revenue that rose to $20.7 million from $20.4 million, while its net loss for the period was $265,000, or break even on a per-share basis, compared with a loss $1.4 million, or $ - 0.01 a share, a year earlier.

And, AeroMechanical Services (TSX: V.AMA, Stock Forum) Friday announced that it has signed an agreement with the Aviation Recorders division of L-3 Communications to sell AMA's real-time data communications and Internet data delivery solutions for aircraft. Its shares added 12% at 65 cents.

 

Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern)
Top Canadian Small/Micro-cap Decliners


 
 
ABOUT THE AUTHOR
Sean Mason
Sean Mason is a Stockhouse market reporter and editor.

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Comments
frankseles5
The Chinese, Japanese,RussiansandMiddle East are not stupid. They know exactly what we are doing. WhenTimmyorHillary come over and tell them everything will be fine, they nod theirheadsinagreement. Chinese college students roll on the floor pissingthemselvesinlaughter when Timmy tells them he wants a strongdollar. In the meantime, theChineseandRussians are buying as much gold as they can get their hands on withtheirUSDsupplies. The Chinese are exchanging their USD reservesforcommodityinvestments in Canada, Australia, Africa, and South America asfastaspossible.Justyesterday,IshowedyouhowWashington’s massive debt andentitlement obligations havegrowntowellover$100trillion — farmore than our nation could ever hope toservice—letaloneeverrepay
frankseles5
US mortgage giant Freddie Mac says its third-quarterloss has stood at $5 billion due to a prolonged deterioration in the housingmarket. Freddie Mac, the second largest provider of US residentialmortgage funding, says it posted a net loss of $5 billion and paid a dividend of$1.3 billion to the US Treasury in the quarter. The firm had recorded$63.6 billion in net losses over the seven quarters ending in March amid athree-year housing plunge. The lender has also received $50.7 billion ingovernment capital since November 2008. The company said that there havebeen 'some positive housing market developments' and it may need additional aidfrom the US Treasury in the coming months.
 
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