Canadian Stocks That Surged Highest Today: $EXFO $SRX $IRV

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Exfo Adds Five New Multi-Million Multi-Year Contracts In Its Fiscal Q4 2020

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Exfo Inc. (TSX:EXFO) was amongst the top gainers in yesterday's trading session gaining 4.20%. The company has announced that it has secured service assurance contacts with 5 customers that include the previously announced deal with eir in Ireland. The multi-year deal will contribute around $5 million to EXFO's bookings in fiscal Q4 2020. This reflects market acceptance of the company's Nova service assurance solutions as well as a shared vision of transforming communication networks with enhanced visibility to minimize downtime and accelerate revenue-generating service.

The CEO of the company Phillipe Morin stated that they were delighted to add new mobile network operators in the quarter into their customer base.

Storm Resources Announce Q2 2020 Results

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Storm Resources Ltd. (TSX:SRX) was also among the stocks that gained most in yesterday's trading session gaining 4.12%. The company has announced its Q2 2020 results in which there was a 20% YoY increase in production to 23,935 Boe per day which was consistent with the company's guidance of 23,000 to 25,000 BPD average production. Revenue declined 33% YoY to 13.86 per Boe which was mainly due to lower natural gas and condensate prices. Revenue from product sales was CA$30.19 million in Q2 2020 and CA$72.114 million in 1H 2020.

The company reported a net loss of CA$11.67 million or $0.10 per share and CA$1.153 million or $0.01 per share in 1H 2020. Also, the company reduced debt from the previous quarter by CA$8.3 million.

Irving Resources Grants Stock Options of 1.55 Million Shares

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Another stock that was amongst top gainers in yesterday's session is Irving Resources Inc. (TSE:IRV) which gained 3.50%. The company has incentive stock options to employees, officers, directors, and consultants to buy 1.55 million common shares at $3.55 per share. The stock options have a three-year term and will be subject to a third of the grant vesting after every six months from the day of grants with full vesting in the first 18 months of the term.

Also, the company has announced the results of the Special Annual General Meeting of stockholders held on August 26, 2020. All incumbent directors standing for reelection that include Kevin Box, Quinton Hennigh, Akiko Levinson, Haruo Harada, and Douglas Buchanan were re-elected.

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