(Source: Business Wire)
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Turbo Power Systems (TSX: TPS), $0.05, +$0.025, 100%, is trading
this morning with encouraging gains of a 100% share price increase as
the company announced that it has entered into a five-year development
and manufacturing agreement with McQuay
International. Going forward, McQuay will source motors and variable
frequency drives from TPS and will have exclusive use of TPS technology
in the HVAC market. In turn, TPS will have exclusive manufacturing
rights, for five years, once each product has been released for
production. In one to three years, which is the anticipated length of
the development stage, and if McQuay meets its sales expectations, the
combined revenues are foreseen to be in the range of $10 million USD per
annum. The first product development is set to commence before the end
of 2009. TPS
is in the business of developing and manufacturing high performance
electric motors and generators, drives and power electronics.
Mercator Minerals Ltd. (TSX: ML), $2.79, +$0.20, 7.72%, is making
gains this morning following yesterday's announcement that it has
entered into an Arrangement
Agreement with Stingray
Copper Inc., a copper development corporation, whereby Mercator will
acquire all of the issued and outstanding shares of Stingray in
consideration for the issue of $0.25 Mercator share for each Stingray
share. Record date for Stingray shareholders has been set for November
3, 2009, with the shareholders' meeting set for December 11, 2009. Among
other benefits, the joint force is aimed to increase leverage to copper
for shareholders and draw on the expertise of both companies. Mercator
is a Canadian mining company.
Kodiak Oil & Gas (AMEX: KOG), $2.49, +$0.21, 9.21%, just this
morning has reached its highest trading volume in over a month. KOG is
up $0.21 with over 4.1 million shares traded.
