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Oilfield services junior up 16% on private placement

Elizabeth Walters Elizabeth Walters, Stockhouse
0 Comments| April 24, 2013

Stockhouse Canadian Small and Micro-cap Stock Report for Wednseday, April 24, 2013  VANCOUVER (SHfn) –

Global Green Matrix Corp. (TSX: V.GGX, Stock Forum) climbed 15.8% to 11 cents as investors assessed the news that the oilfield services firm intends to complete a non-brokered private placement offering of up to 12 million units of the corporation at a price of $0.191667 per unit for gross proceeds of up to $2.3 million. Global Green Matrix will use the net proceeds of the offering to purchase, indirectly through its wholly-owned subsidiary, three new frac water heating units and for general working capital purposes.

 Fission Energy Corp. (TSX: V.FIS, Stock Forum) jumped 6.7% to 96 cents on Wednesday after the exploration and development junior and its 50% joint venture partner Alpha Minerals Inc. (TSX: V.AMW, Stock Forum) reported assay results from drill hole PLS13-053, part of the winter drill program on its Patterson Lake South property in Saskatchewan. Today's assays include two broad mineralized zones separated by just 4.5 metres of unmineralized pelitic rocks. Highlights included 49.5 metres grading 6.26% U3O8, including 6 metres of 35% U3O8.

San Gold Corp.(TSX: T.SGR, Stock Forum)was also up 5% to 21 cents after the gold exploration company announced drilling results from a new underground drilling station located on 26 Level, approximately 1,180 metres underground, at its Rice Lake mining complex in Manitoba. The highlight was 2.6 metres grading 15.2 grams per tonne gold, including 0.4 metres grading 102.8 grams per tonne gold.

Arsenal Energy Inc. (TSX: T.AEI, Stock Forum) lost 9.5% to 43 cents after the exploration and production company said that it has entered into an agreement with Casimir Capital Ltd. to complete a bought deal private placement financing of 3.75 million flow-through common shares at a price of $0.54 per flow-through share for aggregate gross proceeds of $2 million. Furthermore, the company has granted the underwriter an option exercisable at any time prior to 5:00 p. m. (Calgary time) on the business day prior to the closing date to acquire up to an additional 562,500 flow-through shares at $0.54 per flow-through share for additional aggregate proceeds of up to $303,750. The gross proceeds from the sale of the flow-through shares will be used to incur Canadian Exploration Expenses (CEE) for the purposes of the Income Tax Act (Canada) and such CEE will be renounced for the 2013 taxation year.

Select Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern)
Endeavour Mining Corporation (T.EDV, Stock Forum) 23.26%
Alacer Gold Corp. (T.ASR, Stock Forum) 17.06%
Premier Gold Mines Limited (T.PG, Stock Forum) 16.28%
Rainy River Resources Ltd. (T.RR, Stock Forum) 16.18%
Guyana Goldfields Inc. (T.GUY, Stock Forum) 14.55%
Select Canadian Small/Micro-cap Decliners (as of 4:00 PM Eastern)
Columbus Gold Corporation (V.CGT, Stock Forum) -9.43%
Renegade Petroleum Ltd. (V.RPL, Stock Forum) -5.43%
Horizons BetaPro NYMEX Crude Oil Bear Plus ETF (T.HOD, Stock Forum) -4.98%
Wajax Corporation (T.WJX, Stock Forum) -3.72%
Cequence Energy Ltd. (T.CQE, Stock Forum) -2.99%


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