Each morning, the exchanges come alive – and finding a company with news to back its movement allows MN1 to bring you updates each morning and afternoon to keep you on top of the small and micro-cap markets. The following companies released some sort of news late yesterday evening or early this morning:
Biomedical technology company Biophan (OTCBB: BIPH) announced this morning it has entered into an acquisition agreement with Medtronic Inc. (NYSE: MDT) for $11 million. Per the agreement, Medtronic will acquire Biophan’s MRI safety patents, such as pace makers; the deal is expected to close in the next 60 days. Shares of Biophan were up 7 cents, nearly 27 percent, to 33 cents this morning.
“Since our founding in 2000, our goal has been to develop and commercialize innovative technologies related to medical imaging safety, with a focus on the development of solutions for the contraindication between pacemakers and MRI machines,” Guenter Jaensch, chairman of Biophan’s board of directors, said in a statement.
Gigabeam Corp. (Nasdaq: GGBM) shares were up $1.17, or 23 percent, to $6.22 in Thursday morning trading, moving on yesterday’s word that the company has received a purchase order for two of its WiFiber links. Two more links are expected to be sold after the successful installation of the first to WiFiber links. The sale is to a primary Caribbean-based bank customer. The technology will allow the bank to stretch high-speed Internet access across an expanse of urban areas.
“We are very pleased to announce this milestone order from a large bank that is known for offering a high standard of banking services,” Louis Slaughter, chairman and CEO of GigaBeam, said in a statement yesterday. “Given the complexity and sensitivity of the information transmitted through our WiFiber product, we believe this is a significant validation of the performance and the inherent security of our technology. We expect to see several additional purchase orders from various banking institutions in the years to come.”
China Wireless Communications Inc. (OTCBB: CWLC) announced this morning that Hongmeigui Foods Ltd. Will engineer the company’s manufacturing plant computer network systems and will place a network management system to manage them as well. Hongmeigui Foods is a China-based spices and food manufacturer. In response, shares of China wireless rose $0.0015, nearly 15 percent to 1 cent this morning.
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