Key Asset Acquisition Makes Micro Cap Stock Rip

When details pertaining to asset purchases or even company acquisitions comes across the news wire for the larger publicly traded companies, you’ll likely see price tags somewhere in the hundreds of millions, if not billions of dollars.

Well, for smaller publicly-traded companies with overall market caps of only a few million dollars, any size of deal could potentially move the needle, assuming the asset itself is key to driving operational growth of the company. That’s exactly what happened late this morning, as a company with just a market cap of a little over $4 Million exercised an option to acquire $161,322 worth of land and assets.

SusGlobal Energy Corp. (OTCQB:SNRG) announced today that its wholly-owned subsidiary has exercised the Additional Lands Option as per the terms of the Share Purchase Agreement. The assets purchased include 6.8 acres of property that consists of a 6.6-acre licensed gravel pit and a .20-acre right of way. This renewable energy company is now the owner of a 49-acre land parcel at its Belleville, Ontario facility, according to the press release.

Traders seems eager to get their hands on shares of the Toronto-based company as the price popped up to $0.056/share (+40.7%) following the news. This move further extends a very nice six-month run that shareholders have been able to ride.