Three Canada Stocks Whose Volume Surged On Bullish Signals: $PONY $SAY $AC

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Painted Pony Signs Agreement For Its Acquisition With Canadian Natural Resources

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Painted Pony Energy Ltd (TSX:PONY) gained 15.25% on a volume of 8.07 million shares. The company has entered a definitive agreement with Canadian Natural Resources Ltd in connection to the acquisition of all of Painted Pony's outstanding and issued common stock for $0.69 per share. Following the agreement, the Canadian Natural resources will assume the total debt of Painted Pony of around $350 million.

The company also announced the execution of an agreement with its syndicate of lenders for an extension of its yearly borrowing base redetermination date to August 31, 2020, from July 31, 2020. The agreement for an extension confirms the company's syndicated credit line at $325 million including an unsecured letter of credit facility of $22 million backstopped by EDC which will bring its total debt to $347 million.

Sparta Capital Signs Distribution Agreement With SBL Technologies

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Sparta Capital Ltd (TSX:SAY) stock also surged around 15.38% on a volume of 6.43 million shares. The company has entered a distribution agreement with SBL Technologies Incorporated for the supply of the rapid COVID-19 antibody testing of truckers. Last month Sparta announced the "TruckSuite(TM) Division of Canada had assembled a collection of COVID-19 safety tools to help the trucking sector.

The TruckSuite safety tools come with the advantage of capturing necessary data to help in understanding the impact of COVID-19. Sparta is currently working on various applications that will help in addressing trucking health, emission monitoring, compliance, and performance status.

Air Canada Resumes Direct Flights Between Toronto and Delhi

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Another stock that surged is Air Canada (TSX:AC) which jumped 3.94% on a volume of 5.28 million shares. The carrier has announced that it will recommence direct flights from Toronto to Delhi thrice a week according to the new travel regulations. The flights will commence on August 15-30 and will operate on Sunday, Tuesday, and Friday. According to the company, already inventory is open on and GDS as well as via travel operators.

Last year was a record-breaking year for the Air Canada Foundation which has continued to support families and children across Canada. So far the foundation has donated over $2.4 million to charities for programs supporting the health and well-being of children and youth in Canada. Despite the challenges posed by the pandemic which has led to the cancellation of fundraising activities the company has continued to support families and communities in need in various ways.

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