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 news late yesterday evening or early this morning:Shares of GreenShift Corp. (OTCBB: GSHF) were up 4 cents in early morning trading, or 165 percent, to 6 cents on volume of 12.67 million. GreenShift issued a letter to shareholders Friday, detailing the company’s accomplishments over the past two years and correcting a “number of significant issues.” Facing those issues the company said it intends to: complete pending mergers; liquidate non-core assets; restructure and refinance its debts; and execute in core businesses – GreenShift Corp and GS AgriFuels and GS EnviroServices Inc.
Freedom Acquisition Holdings Inc. (AMEX: FRH) shares were up $1.45, or 14 percent, to $11.90 today after GLG Partners announced it plans to access the public markets through a reverse acquisition transaction with Freedom Acquisition. Per the agreement, Freedom Acquisition will pay GLG $1 billion in cash and 230 million shares of common stock. According to the press release, GLG is valued at approximately $3.4 billion, based on Freedom Acquisition’s closing price on June 22, 2007.
Shares of Hyperdynamics Corp. (AMEX: HDY) continue to climb this morning, up 22 cents, or 7 percent, to $3.25 on volume of 166,600. Last week the company announced its wholly-owned subsidiary signed a purchase agreement with an independent oil producer in Louisiana. The agreement will give Hyperdynamics an 85 percent working interest in about 1,100 acres of oil and gas leases with proven reserves of 250,000 barrels of oil.
NutraCea (OTCBB: NTRZ) shares climbed 15 cents, or 5 percent, to $3.51 this morning, after the company announced it has entered the commercial food ingredient market and will expand its humanitarian aid programs in Southeast Asia. The plans include a joint venture with an Indonesian industrialist affiliated with one of the largest wheat milling operations in Southeast Asia. Per the agreement, both companies will contribute $5 million to a joint entity and share profits equally.
