Small Cap News Movers for 3/12/10

Intellipharmaceutics International Inc. (NASDAQ:IPCI) today announced that Novartis Pharmaceuticals Corporation and Celgene Corporation have settled their patent suit in the U.S. District Court for the District of New Jersey, and Elan Pharma International Ltd. has settled its patent suit in the U.S. District Court for the District of Delaware, with Intellipharmaceutics Corp., a wholly-owned subsidiary of Intellipharmaceutics International, and its licensee Par Pharmaceutical, Inc. over a generic version of the Attention Deficit Hyperactivity Disorder drug Focalin XR® (dexmethylphenidate hydrochloride). The stock closed at $4.14, up 172.37%, on 2,485,417 traded shares.

PAB Bankshares, Inc. (NASDAQ: PABK) announced that it filed an amendment to its registration statement with the Securities and Exchange Commission for the offering of up to $85 million of its common stock on March 9, 2010. The Company expects to sell its common stock in an underwritten public offering with Sandler O'Neill & Partners, L.P. acting as sole book-running manager. The common stock will be issued pursuant to a prospectus filed as part of the Company's registration statement under the Securities Act of 1933. The stock closed at $1.51, up 26.88%, on 185,162 traded shares.

Maine & Maritimes Corporation (NYSE AMEX: MAM) and Emera Inc. announced today that MAM has entered into a merger agreement with BHE Holdings Inc. of Bangor, ME (BHE), a subsidiary of Emera Inc. (EMA:TSX). Under the terms of the agreement, all outstanding shares of MAM common stock will be purchased for US$45.00 per share in cash, representing over a 40 percent premium based on MAM's closing share price on Thursday, March 11, 2010, the last trading day prior to the announcement of the proposed merger and MAM will become a wholly owned subsidiary of Emera. The stock closed at $42.93, up 34.16%, on 98,592 traded shares.

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