4:05pm: Numinus Wellness shares add to gains late afternoon
Neovasc (TSX:NVCN, NASDAQ:NVCN) closed up 34% at $37.24, while Numinus Wellness rose 16% to $0.29, DGTL Holdings finished 56% higher to $0.07, and Tocvan Ventures ended up 7% at $0.62.
11:30am: Neovasc (TSX:NVCN, NASDAQ:NVCN), DGTL Holdings shares advance sharply
Neovasc (TSX:NVCN, NASDAQ:NVCN) Inc shares shot up 34% to $37.20 on Tuesday after the specialty medical device company announced that it has agreed to be acquired by Shockwave Medical, Inc (NASDAQ:SWAV) for US$27.25 per share in cash, or an enterprise value of about $100 million.
Neovasc (TSX:NVCN, NASDAQ:NVCN) noted that its shareholders will also receive a potential deferred payment in the form of a non-tradable contingent value right, entitling the holder to receive up to an additional $12 per share in cash if certain regulatory milestones are achieved.
As well, shares of Numinus Wellness Inc. (TSX:NUMI, OTC:LKYSF) gained 14% to $0.285 as the mental health care company said its first-quarter 2023 revenue surged 618% year over year to $5.7 million, as revenue from its Numinus Wellness Clinic Network increased 670% to $5 million and it generated $700,000 in revenue from its Cedar Clinical Research unit.
READ: Numinus Wellness reports surge in 1Q revenue as Novamind acquisition beds down
DGTL Holdings Inc (TSXV:DGTL), meanwhile, reported the signing of one of the largest microblogging and social networking application brands in the world to its flagship data analytics platform, TotalSocial.
The company, which is building a portfolio of digital media software and managed service business lines, added that the project includes two service contracts totaling over $100,000 and said it anticipates further account growth post the completion of the initial project. DGTL Holdings stock moved up 67% to $0.075 following the announcement.
And, Tocvan Ventures Corp. (CSE:TOC) shares rose 10% to $0.64 after the exploration development company announced results for the remaining drill holes completed at the San Ramon prospect at its El Picacho Gold-Silver project in Sonora, Mexico, with hole SRA-22-010 returning the most significant results to date, intersecting 44.2 meters of 0.6 grams per tonne gold.
Contact Sean at sean@proactiveinvestors.com