Microcap Report: LX Ventrures (V.LXV) PanTerra (V.PRC) move sharply higher

Stockhouse Editorial
0 Comments| May 7, 2014

LX Ventures Inc. (TSX: V.LXV, Stock Forum) jumped 60% to 16 cents Wednesday after the company said it has signed definitive agreements with venture capital investors to complete the recapitalization of its portfolio company, Copper Cloud Inc. as a stand-alone company.

Under the terms of the agreement, LX Ventures will receive $700,000 in cash payments, retain one million preferred shares of Copper, redeemable by Copper at $1 per share upon a future monetizing event, including the sale of Copper, and receive a 5% royalty on Copper revenues payable according to certain performance criteria.

PanTerra Resource Corp. (TSX: V.PRC, Stock Forum)  soared 217.6% to 27 cents after the company said it has entered into a reorganization and investment agreement. The company in a press release it provides for a non-brokered private placement of up to $20 million and the appointment of a new management team, and directors as well as a rights offering to current shareholders.

Select Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern)
PanTerra Resource Corp. (V.PRC, Stock Forum) 217.65%
LX Ventures Inc. (V.LXV, Stock Forum) 60.00%
Great Prairie Energy Services Inc. (V.GPE, Stock Forum) 13.16%
NeuLion, Inc. (T.NLN, Stock Forum) 7.62%
Gold Canyon Resources Inc. (V.GCU, Stock Forum) 7.41%
Select Canadian Small/Micro-cap Decliners (as of 4:00 PM Eastern)
Southern Pacific Resource Corp. (T.STP, Stock Forum) -20.00%
Niocorp Developments Ltd. (V.NB, Stock Forum) -12.86%
TAG Oil Ltd. (T.TAO, Stock Forum) -12.26%
TransGlobe Energy Corporation (T.TGL, Stock Forum) -11.38%
Kaizen Discovery Inc. (V.KZD, Stock Forum) -11.29%

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