4:05pm: Infinity Stone Ventures adds to gains late day
ICPEI Holdings closed up 83% at $3.85, while Contact Gold jumped 100% to $0.03, Infinity Stone stock finished 13% higher to $0.275, and Crew Energy ended down 10% at $5.57.
11:50am: WICPEI Holdings, Contact Gold shares advance sharply
ICPEI Holdings Inc (TSXV:ICPH) shares surged 84% to $3.87 on Friday after the Canadian property and casualty insurance provider announced an agreement to go private at a price of $4 per share in cash.
As well, shares of Contact Gold Corp (TSXV:C) shot up 133% to $0.035, on volume of more than 1.8 million shares, as the gold-focused exploration company said it has entered into a four-year, US$10 million earn-in agreement with a wholly-owned subsidiary of Centerra Gold Inc on Contact’s Green Springs oxide gold project located on Nevada’s Cortez Trend.
Contact Gold noted that Centerra has an option to acquire a 70% interest in Green Springs for cumulative earn-in exploration expenditures of US$10 million plus cash payments to the company of US$1 million.
Infinity Stone Ventures Corp (CSE:GEMS), meanwhile, reported that it has completed its four-hole, 800 metre, fall drilling program at the Rockstone graphite project near Thunder Bay, Ontario, and hit massive graphite in all holes. Infinity Stone stock moved up 8% to $0.265 following the announcement.
READ: Infinity Stone Ventures hits massive graphite in all four fall program drill holes at Rockstone project
And, Crew Energy Inc (TSX:CR) shares slid 11% to $5.53 on Friday after the growth-oriented natural gas weighted producer outlined a four-year plan that would position Crew to significantly increase production, targeting average annual volumes of about 61,000 barrels of oil equivalent (boe) per day upon completion.
Contact Sean at sean@proactiveinvestors.com