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Canadian Penny Stocks in Play:
Medicago Inc.: announced that the Company has been awarded $1.77 million in funding by Quebec's Consortium for Drug Discovery, conditional upon the signing of a research agreement between parties. Medicago will use these funds to develop the VLPExpress, a high throughput platform that will accelerate the Company's discovery and development of new vaccines by rapidly expressing, purifying and testing candidate VLPs.
Medicago Inc. (TSX-Venture:MDG) closed up $0.015 at $0.30 on the funding announcement.
Medoro Resources Ltd.: and Colombia Goldfields Limited announced that Medoro has executed a binding Arrangement Agreement with Colombia Goldfields to acquire all of the issued and outstanding shares of Colombia Goldfields in exchange for common shares and warrants of Medoro. Under the proposed arrangement, which is subject to regulatory approval and stockholder approval by Colombia Goldfields, Medoro will issue 29,266,856 shares and 940,720 warrants to the stockholders of Colombia Goldfields in exchange for the 104,524,486 outstanding shares of Colombia Goldfields.
Medoro Resources Ltd. (TSX-Venture:MRS) closed down $0.02 at $0.15 while Colombia Goldfields Ltd. (TSX:GOL) closed even at $0.06 on the acquisition news.
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