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  • Writer's pictureLucas Friesen

Market Summary: January 15, 2024

The TSX closed up 71.66 points today on relatively low volume. U.S. markets were closed for Martin Luther King, Jr. Day.

Royal Bank of Canada (RBC) will close its acquisition of HSBC Bank Canada on March 28, 2024. The bank will begin conversion activities on that date and HSBC branches will open on April 1, 2024, as RBC locations. RBC has approximately 1.4 billion shares issued and trades at $132.45 per share.

Neighbourly Pharmacy Inc. shares rose 15.5% to $18.20 after it signed a definitive agreement with Persistence Capital Partners to take Neighbourly private at $18.50 per share. The company signed the letter of intent for the go-private deal in October, 2023. The deal is expected to close by March 29, 2024. Neighbourly has approximately 45 million shares issued.

Numinus Wellness Inc., a company in the psychedelic-therapy space, lost $4.35-million on revenue of $5.94-million in its fiscal Q1 2024. In the previous quarter, fiscal Q4 2023, the company lost $9.25-million on revenue of $6.13-million. The company has started a “strategic review” process. Numinus has approximately 266 million shares issued and is trading at $0.175 per share on the TSX.

Angold Resources Ltd. shares jumped 104% to $0.215 per share today, after it began trading for the first time since mid-December, 2023, when it was halted after it announced its plan to acquire up to 70% of the MuSrmac and Strike properties, and the option to acquire up to 100% of the Sun Dog property. These properties are in proximity to the company’s existing uranium projects in Saskatchewan. Angold has approximately 34 million shares issued.

NowVertical Group Inc. shares dropped nearly 19% to $0.385 on news that the company was appointing Sandeep Mendiratta as its new CEO. The company also promoted Santiago Trogolo to EVP of Latin America and Mostafa Hashem as EVP of product and technology. Sasha Grujicic is out as CEO and is leaving the board. NowVertical has approximately 44 million shares issued.

Alamos Gold Inc. has agreed to acquire Orford Mining Corp. Alamos shares dropped 1% to $17.05 per share while Orford shares increased 100% to $0.09 per share. This acquisition will add the Qiqavik gold project in Quebec to Alamos’s portfolio of projects. The deal values Orford shares at 10 cents per share. Alamos Gold has approximately 397 million shares issued and Orford has approximately 224 million shares issued.

Wesdome Gold Mines Ltd. produced 123,335 ounces of gold in 2023, compared with producing 110,850 oz Au in 2022. The company has also promoted Michael Michaud to senior VP of exploration and resources, and Raj Gill to senior VP of corporate development and investor relations. Lindsay Dunlop is leaving the company on March 31, 2024. The company has approximately 149 million shares issued and is trading at $7.27 per share.

Karora Resources Inc. produced 160,492 oz Au from its Beta Hunt and Higginsville mines in Australia. The company also sold 157,034 oz Au in 2023. The company has approximately 178 million shares issued and is trading at $4.45 per share.

Victoria Gold Corp. produced 166,730 oz Au at its Eagle mine in 2023, compared with producing 150,182 oz Au at Eagle in 2022. Victoria Gold has approximately 66 million shares issued and is trading at $6.21 per share.

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