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Aug. 24, 2011, 12:04 p.m. EDT

Canada hot stocks: Homburg, Mountain Province

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By Dow Jones

Among the companies whose shares are making notable moves in Wednesday's session are Homburg Canada REIT and Mountain Province Diamonds Inc. .

Homburg Canada (C$11.48, -C$0.66, -5.4%) announced a C$63 million bought-deal financing, with the REIT planning to sell 2.5 million units at C$11.50 each and Homburg Invest Inc. (HII.A.T) selling 3 million units at the same price. The sale will cut Hombug Invest's stake in the REIT to about 16.4% from 23%.

Mountain Province (C$4.93, C$0.35, 7.6%) said it has ceased discussions with third parties that have expressed interest in the company and plans to focus on the permitting of the Gahcho Kue Project and arranging its share of financing for the first mine at the project.

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