Canadian Marijuana Stock Climbs On Financial Results
Sean Mason, SmallCapPower.com | Aug 28, 2018 15:12
Record revenue and greenhouse expansion powered a Canadian marijuana stock Tuesday. Here’s some small stocks making big moves on Tuesday, Aug. 28, 2018 (as of 11:30 a.m. EST):
Aleafia Health Inc. (V:ALEF), a Canadian marijuana stock, moved 18% higher to $0.97 on Tuesday after announcing record second-quarter revenue of $1.2 million, while adding that its 160,000-square-foot Niagara greenhouse facility is expected to be fully operational by late 2018.
As well, shares of Wallbridge Mining Company Limited (TO:WM) gained 17% to $0.105 as the resource junior released drill results from the underground exploration program at its 100%-owned Fenelon Gold Property in Quebec, which included 49.06 g/t gold over 10.13 metres.
Evrim Resources Corp. (V:EVM), meanwhile, reported that it will receive a strategic investment from Newmont Mining Corporation (NYSE:NEM) through a private placement at a price of $1.50 per share for gross proceeds of $7,272,601.50. Evrim Resources stock popped 20% to $1.30 following the announcement.
Finally, ML Gold Corp. (V:MLG) shares slid 21% to $0.075 after the junior explorer announced that its ongoing drilling program at the Stars project in British Columbia has intersected more than 400 metres of copper mineralization extending the entire length of Hole 10, ending in mineralization at a final depth of 490m. Drill results included 405.38 metres of 0.26% copper equivalent.
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