The Australian share market may be having a soft start to the week, but that hasn't stopped some small cap shares from pushing higher today.
Three small cap shares on the rise on Monday are listed below:
The AuMake International Ltd (ASX: AU8) share price has climbed 5.5% higher to 28.5 cents after the daigou company announced an exclusive sales agreement with Anhui Tiantong Renhe Culture Communication to distribute both AuMake owned brand and exclusive products via its network of TV shopping channels within China. According to the release, AuMake will initially work with JiaJia Shopping, which has a viewership of approximately 385 million people and forecast sales of 1.5 billion RMB in FY 2018.
The Cynata Therapeutics Ltd (ASX: CYP) share price has pushed over 2% higher to $1.38. This morning the stem cell and regenerative medicine company announced that it has participated in a pre-development meeting with the Japan Pharmaceuticals and Medical Devices Agency (PMDA). This meeting was held to discuss the regulatory approval path for Cynata's proprietary Cymerus mesenchymal stem cell products in Japan. The meeting and further engagement with the PMDA will facilitate planning for a clinical development program in Japan. I think Cynata is one to watch closely this financial year after a very promising FY 2018.
The iSignthis Ltd (ASX: ISX) share price has risen 6% to 18 cents after announcing that it has contracted a major merchant in the MCC 6211 category (equities/brokers/market makers/FX/CFD) in Australia. According to the release, the new merchant has a gross processed turnover volume of over AU$200 million and was most recently a National Australia Bank Ltd (ASX: NAB) customer. The merchant is expected to come onstream and contribute to revenues within 6 weeks. This could be a big positive for the global leader in AML RegTech and transactional banking.
