Bloomberg News

Allon, PetroAmerica, Rare Element, TMX: Canadian Equity Preview

September 28, 2011

Sept. 28 (Bloomberg) -- Shares of the following companies may have unusual moves in Canadian trading.

Allon Therapeutics Inc. (NPC CN): The Vancouver-based drug developer received a U.S. patent for its preclinical compound AL-408 for the treatment of fetal alcohol syndrome.

Corby Distilleries Ltd. (CDL/A CN): The alcoholic-beverages maker sold 17 brands and a Montreal factory to Sazerac Co. for C$32.9 million ($32.3 million), according to a press release distributed by CNW Group Ltd.

Loncor Resources Inc. (LN CN): The gold explorer with operations in Africa received a “buy” rating in new coverage from Brock Salier, an analyst at GMP Capital Inc.

PetroAmerica Oil Corp. (PTA CN): The oil and gas developer with operations in Colombia said it entered an agreement to increase its interest in the El Eden block in Colombia to 40 percent from 25 percent while withdrawing from the El Sancy block.

Rare Element Resources Ltd. (RES CN): The owner of a rare- earth metals project in Wyoming reported a fourth-quarter loss of 13 cents a share, compared with the 8-cent-loss estimate of one analyst surveyed by Bloomberg.

TMX Group Inc. (X CN): The owner of the Toronto Stock Exchange said a takeover offer from Maple Group Acquisition Corp., which is a group of 13 Canadian financial-services companies including Toronto-Dominion Bank and Manulife Financial Corp., is a legitimate bid. Maple offered to buy TMX for C$3.73 billion ($3.65 billion).

Valeant Pharmaceuticals International Inc. (VRX CN): The drugmaker received approval for colesevelam hydrochloride, a treatment to help lower LDL cholesterol levels, from the Canadian regulatory authority Health Canada.

--With assistance from Matt Walcoff in Toronto. Editors: Stephen Kleege, Joanna Ossinger

To contact the reporter on this story: Kaitlyn Kiernan in New York at kkiernan2@bloomberg.net

To contact the editor responsible for this story: Nick Baker at nbaker7@bloomberg.net


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