4:05pm: Bellus Health (TSX:BLU) shares add to gains late afternoon
BELLUS Health closed up 100% at $19.39, while The Lion Electric Company gained 15% to $3.01, Tearlach Resources finished 8% higher to $0.325, and Reunion Gold ended up 6% at $0.45.
11:55am: Bellus Health (TSX:BLU), The Lion Electric Company shares make big gains
Bellus Health (TSX:BLU) shares shot up 99% to $19.33 on Tuesday after the late-stage biopharmaceutical company announced that it has agreed to be acquired by GSK PLC (LSE:GSK, NYSE:GSK) for US$14.75 per share in cash.
As well, shares of The Lion Electric Company (TSX:LEV) shares continued to move higher Tuesday, up 19% to $3.13 following a 12% gain on Monday, as the manufacturer of all-electric medium and heavy-duty vehicles said it officially introduced its new manufacturing factory in Mirabel, Quebec, which will produce lithium-ion batteries for medium and heavy-duty vehicles.
Tearlach Resources Limited (TSXV:TEA), meanwhile, reported rush assay results for the first set of 5 out of 11 holes from its Phase 1 drill program at the Gabriel project in Nevada, saying the drill holes contained broad mineralization zones with intervals exceeding 1,000 parts per million (ppm) lithium and grades up to 1,460 ppm. Tearlach Resources stock moved up 13% to $0.34 following the announcement.
And, Reunion Gold Corporation (TSX-V:RGD, OTCQB:RGDFF) shares rose 6% to $0.45 on Tuesday after the gold explorer reported results from 25 diamond drill holes totalling 11,969 metres drilled at the Kairuni zone of its Oko West project in Guyana, with highlights including 109.7 metres of 5.59 grams per tonne gold in hole D-243.
Contact Sean at sean@proactiveinvestors.com