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Stocks of the Hour: TASK Group Holdings, Reach Resources, Archer Materials

TASK Group Holdings (ASX:TSK) and PAR Technology Corporation (NYSE:PAR) have entered into a Scheme Implementation Agreement under which it is proposed that PAR will acquire 100% of TASK by way of a Scheme of Arrangement. TASK shareholders will have the ability to receive the Scheme consideration in cash or scrip by way of a mix and match facility. Shares are trading 95 per cent higher at 78 cents.

Reach Resources (ASX:RR1 & RR1O) has announced the signing of an ‘Earn-in and Joint Venture Agreement, with Electrostate Malinda Pty Ltd, a wholly owned subsidiary of Delta Lithium (ASX:DLI). As part of the agreement, Delta has agreed to pay to Reach a non-refundable cash payment of $3,200,000, within 5 days of the Commencement Date, the 9th of March 2024. Shares are trading 50 per cent higher at 0.3 cents.

Archer Materials (ASX:AXE) has announced that they have designed a miniaturised version of its Biochip graphene field effect transistor chip for fabrication at a commercial foundry. The Archer Biochip contains a sensing region of which the gFET is the core component. Shares are trading 20.51 per cent higher at 47 cents.