Acquisition Sends Shares Soaring Late In The Session – MENAFN.COM

Acquisition Sends Shares Soaring Late In The Session – MENAFN.COM

A small cap tech stock rallied in the late afternoon after it was announced that the company has entered into a definitive agreement with Spiel Technologies Ltd. and Pacific Website Company Inc. to acquire all of the shares of CEO. CA Technologies Ltd. Through this acquisition, GoldSpot Discoveries Corp (TSX-Venture:SPOT) will solidify its commitment to acquire growing SaaS products and build robust and recurring revenue streams. GoldSpot is a technology company. The company is engaged in machine learning to reduce capital risk while working to increase efficiencies and success rates in resource exploration and investment. The Company has developed a monetization strategy into multiple verticals of the mining and investment industry, including consulting service offerings, exploration property staking and royalty acquisition, and the development of artificial-intelligence-driven software-as service exploration technology. It has a single reportable geographic segment in Canada. Traders were extremely bullish on the news as shares shot up to $1. 21/share (+16. 34%) at the session high following the announcement. This move is a strong continuation of the uptrend that the stock has been riding over the last year. Legal Disclaimer: MENAFN provides the information "as is" without warranty of any kind. We do not accept any responsibility