PMI Gold (T.PMV) and Asanko Gold (T.AKG) up on acquisition update

Stockhouse Editorial
0 Comments| January 31, 2014

Stockhouse Canadian Small and Micro-cap Stock Report for Friday, January 31, 2014 VANCOUVER (SHfn) –

PMI Gold Corp. (TSX: T.PMV, Stock Forum) was up 12.5% to 40.5 cents. The stock is reacting to news that the acquisition of the exploration and development company by Asanko Gold Inc. (TSX: T.AKG, Stock Forum), pursuant to a plan of arrangement, received overwhelming approval by the shareholders of Asanko and PMI at their respective shareholders meetings held at the same time on January 30, (Vancouver) and January 31, (Perth), respectively. The arrangement is expected to become effective on or about Feb. 6, 2014 and is subject to the satisfaction of certain other closing conditions customary in a transaction of this nature. The arrangement will result in Asanko acquiring all of the issued and outstanding shares of PMI to create an emerging mid-tier gold producer with a clear pathway to 400,000 ounces of annual gold production.

Etrion Corp. (TSX: T.ETX, Stock Forum) slipped 2.8% to 70 cents after the renewable energy company provided an update on shares outstanding. On January 29, Etrion closed a private placement to raise gross proceeds of approximately US$80 million through the issuance of 124.6 million common shares. Following the share issuance, the company has 333.85 million total shares outstanding.

Moly Mines Ltd. (TSX: T.MOL, Stock Forum) lost 8.3% to 11 cents after reporting the highlights of their quarterly activities report and quarterly cashflow report for the period ending Dec. 31, 2013.

Select Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern)
Tower Resources Ltd. (V.TWR, Stock Forum) 100.00%
Alter NRG Corp. (T.NRG, Stock Forum) 13.33%
PMI Gold Corp. (T.PMV, Stock Forum) 12.50%
Zecotek Photonics Inc. (V.ZMS, Stock Forum) 11.25%
Asanko Gold Inc. (T.AKG, Stock Forum) 10.80%
Select Canadian Small/Micro-cap Decliners (as of 4:00 PM Eastern)
Grande Portage Resources Ltd. (V.GPG, Stock Forum) -57.14%
MacDonald Mines Exploration Ltd. (V.BMK, Stock Forum) -25.00%
Atlantic Power Corp. (T.ATP, Stock Forum) -16.57%
North American Palladium Ltd. (T.PDL, Stock Forum) -15.57%
ProMetic Life Sciences Inc. (T.PLI, Stock Forum) -10.14%

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