4:05pm: Logiq adds to gains in the afternoon
Avalon GloboCare Corp (NASDAQ:AVCO) shares shot up 12% to $0.63, on volume of more than 2.4 million shares, Tuesday after the developer of innovative cell-based technologies and therapeutics said it is set to buy a 60% stake in Laboratory Services MSO as it expands its focus on lab testing and services in what it called a 'transformative' deal worth US$31 million.
California-headquartered Laboratory Services has completed over 600,000 tests since inception. Last year the company posted unaudited revenue of more than US$25 million and net income in excess of US$10 million.
As well, shares of Magna Mining Inc (TSXV:NICU) surged 35% to $0.48 as the exploration and development company released the initial Mineral Resource Estimate for the Denison project, which includes the past-producing Crean Hill nickel-copper-PGE mine in Sudbury, Ontario.
Highlights included an estimated high grade underground Indicated resource of 14.5 million tonnes at 2.1 % nickel equivalent, as well as a resource that starts at surface and could be amenable to open pit mining in addition to near surface underground mining methods.
Chemtrade Logistics Income Fund (TSX:CHE.UN), meanwhile, reported that its third-quarter 2022 revenue rose 42% year over year to C$519.9 million. The provider of industrial chemicals and services also upped its adjusted EBITDA guidance for a third consecutive quarter to a range of C$420 million to C$430 million, from C$360 million to C$380 million previously. Chemtrade units moved up 11% to $8.38 following the announcement.
In addition, shares of Logiq, Inc (OTCQX:LGIQ) powered 25% higher to $0.56 as the provider of digital consumer acquisition solutions said it recently signed a managed services contract with an undisclosed client that is estimated to generate $2 million to $3 million in revenue per month going forward.
READ: Logiq inks new client services contract that could generate revenue of $2M-$3M per month
And, Willow Biosciences Inc (TSX:WLLW) shares rose 14% to $0.12 on Tuesday after the biotechnology company focused on revolutionizing industrial manufacturing of pure, consistent and sustainable functional ingredients announced that it has entered a master services agreement with Kalsec Inc to develop and commercialize a precision fermentation production process for use in functional foods.
Kalamazoo, Michigan-based Kalsec produces advanced hops ingredients for the food and beverage industry. The agreement consists of research and development, and scale-up phases, with Willow generating revenues from research fees and milestone payments.
11:40am: Avalon GloboCare, Magna Mining advance sharply
Avalon GloboCare Corp (NASDAQ:AVCO) shares shot up 23% to $0.69, on volume of more than 1.7 million shares, Tuesday after the developer of innovative cell-based technologies and therapeutics said it is set to buy a 60% stake in Laboratory Services MSO as it expands its focus on lab testing and services in what it called a 'transformative' deal worth US$31 million.
California-headquartered Laboratory Services has completed over 600,000 tests since inception. Last year the company posted unaudited revenue of more than US$25 million and net income in excess of US$10 million.
READ: Avalon GloboCare to acquire majority interest in Laboratory Services MSO in 'transformative' deal worth $31M
As well, shares of Magna Mining Inc (TSXV:NICU) surged 37% to $0.485 as the exploration and development company released the initial Mineral Resource Estimate for the Denison project, which includes the past-producing Crean Hill nickel-copper-PGE mine in Sudbury, Ontario.
Highlights included an estimated high grade underground Indicated resource of 14.5 million tonnes at 2.1 % nickel equivalent, as well as a resource that starts at surface and could be amenable to open pit mining in addition to near surface underground mining methods.
Chemtrade Logistics Income Fund (TSX:CHE.UN), meanwhile, reported that its third-quarter 2022 revenue rose 42% year over year to C$519.9 million. The provider of industrial chemicals and services also upped its adjusted EBITDA guidance for a third consecutive quarter to a range of C$420 million to C$430 million, from C$360 million to C$380 million previously. Chemtrade units moved up 11% to $8.39 following the announcement.
And, Willow Biosciences Inc (TSX:WLLW) shares rose 14% to $0.12 on Tuesday after the biotechnology company focused on revolutionizing industrial manufacturing of pure, consistent and sustainable functional ingredients announced that it has entered a master services agreement with Kalsec Inc to develop and commercialize a precision fermentation production process for use in functional foods.
Kalamazoo, Michigan-based Kalsec produces advanced hops ingredients for the food and beverage industry. The agreement consists of research and development, and scale-up phases, with Willow generating revenues from research fees and milestone payments.
Contact Sean at sean@proactiveinvestors.com