Addax Petroleum (T.AXC) hit a new 52-week high of $51.10; Addax Petroleum announced that it has received a letter from the Minister of Natural Resources of the Kurdistan Regional Government and has confirmation from Sinopec International Petroleum Exploration and Production Corporation that receipt of this letter satisfies the condition to the offer for Addax Petroleum dated July 9, 2009 made by Mirror Lake Oil and Gas Company Limited, an indirect wholly-owned subsidiary of SIPC, that Addax Petroleum obtain the KRG Letter.
The Offer is subject to a number of conditions including valid acceptances by holders of not less than 66 2/3 per cent of Addax Petroleum shares on a fully diluted basis and receipt of certain regulatory approvals, including the government of The People's Republic of China. The Offer is expected to close in the third quarter of 2009.
Adeptron Technologies (T.ATQ) hit a new 52-week high of 14 cents; Adeptron announced that it was selected to provide Electronics Manufacturing Services (EMS) to a major division of an original equipment manufacturer of scientific instruments and laboratory automation and integration equipment with sales in excess of $10 billion U.S. annually.
The initial value of the electronics manufacturing services for this customer is estimated at over $1 million annually for 2010 with sales having already started in 2009.
VG Gold (T.VG) hit a new 52-week high of 30 cents; VG GOLD announced that LEXAM EXPLORATIONS INC., which is 49.4% owned by its Chairman and CEO Rob McEwen, has agreed to make a strategic investment in VG Gold Corp. for an aggregate subscription of 37,500,000 units issued by way of a private placement.
Each Unit is priced at $0.08 and includes one common share and one common share purchase warrant exercisable at $0.15 per share for a period of eighteen months. The private placement will be completed in two tranches, with the first tranche consisting of 12,594,814 units and having closed earlier today. Upon closing of both tranches, Lexam will own 27% of VG Gold's outstanding shares and 42% on a partially diluted basis. Lexam is now VG Gold's largest shareholder
Extract Resources (T.EXT) hit a new 52-week high of $6.79; no major news announcements today
OPMEDIC Group (T.OMG) hit a new 52-week high of $2.15; no major news announcements today
SXC Health Solutions Corp. (T.SXC) hit a new 52-week high of $33.19; no major news announcements today
Wireless Matrix (T.WRX) hit a new 52-week high of $1.09; no major news announcements today
Mundoro Capital (T.MUN) hit a new 52-week high of 94 cents; no major news announcements today
DragonWave (T.DWI) hit a new 52-week high of $6.25; no major news announcements today
NuVo Research (T.NRI) hit a new 52-week high of 46 cents; no major news announcements today
