4:05pm: Greenlane Renewables, West Red Lake Gold Mines shares advance sharply
Greenlane Renewables Inc (TSX:GRN) shares climbed 16% to $0.36 on Monday after the global provider of biogas upgrading systems announced that it has inked a collaborative deal with Brazil’s ZEG Biogás e Energia SA, a company 50% owned by Petrobras (NYSE:PBR)’ former fuel distribution unit Vibra Energia SA, to locally produce and sell Greenlane's most popular biogas upgrading products.
As well, shares of West Red Lake Gold Mines Ltd (TSXV: WRLG) shot up 43% to $0.60 as the mineral exploration company said it has agreed to acquire Pure Gold Mining Inc (TSX-V:PGM, LSE:PUR, OTC:LRTNF)’s Madsen gold mine project in consideration for C$6.5 million in cash, issuing 28.46 million West Red Lake common shares, and granting a 1.0% secured Net Smelter Royalty (NSR) on the Madsen project. The deal could also involve up to US$10.0 million in deferred consideration payments.
Reklaim (TSXV:MYID), meanwhile, reported the expansion of its data sales into the international market by first extending existing Reklaim USA clients and platforms into Canada. Reklaim stock moved up 9% to $0.06 following the announcement.
And, Thor Explorations Ltd (TSX-V:THX, AIM:THX, OTC:THXPF) shares rose 6% to $0.34 on Monday after the junior explorer announced that it produced 20,629 ounces of gold from its Segilola mine in Nigeria during the three months to end of March at an average grade of 2.95 grams per tonne.
Contact Sean at sean@proactiveinvestors.com