Beverage Stock Flows Higher on Cannabis Agreement

Hill Street Beverage Company Inc. (TSXV:BEER), a beverage stock, climbed after announcing that it has signed a definitive agreement with Lexaria Bioscience

Sean Mason | July 31, 2018 | SmallCapPower

Cannabis infusion news appeared to quench the thirst of a few beverage stock speculators Tuesday. Here’s some small stocks making big moves on Tuesday, July 31, 2018 (as of 4 pm EST):

Hill Street Beverage Company Inc. (TSXV:BEER), a beverage stock, surged 17% to $0.205 on Tuesday after announcing that it has signed a definitive agreement with Lexaria Bioscience Corp. to license Lexaria’s DehydraTECH, on a semi-exclusive basis, for a term of five years, to produce a line of cannabis-infused, alcohol-free beverages for Canadian distribution, following regulatory approval.

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As well, shares of Baytex Energy Corp. (TSX:BTE) slipped 3% to $4.04 as the oil and gas producer said its second-quarter production rose 2% quarter over quarter to average 70,664 boe/d, while its net loss per share for the period of $0.25 missed the analyst consensus estimate.

Sokoman Iron Corp. (TSXV:SIC), meanwhile, reported that Eric Sprott will subscribe for 13.35 million units of its non-brokered private placement at a price of $0.15 per unit. The Company intends to raise up to $3 million. Sokoman Iron stock popped 17% to $0.24 following the announcement.

Finally, BluMetric Environmental Inc. (TSXV:BLM) shares jumped 11% to $0.205 after the cleantech company announced that it has been awarded a new $14.4 million contract from the Government of Canada’s Department of National Defence for service and support of the Shipboard Reverse Osmosis Desalination Water Purification Units for the Royal Canadian Navy during the next three years.

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Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.

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