Biotech Stock Climbs on Cannabinoid Beverage LOI

Naturally Splendid Enterprises Ltd. (TSXV:NSP), a biotech stock, moved higher after announcing that CROP Infrastructure will now utilize NSP’s HempOmega powder in its “CannaDrink”

Sean Mason | October 3, 2018 | SmallCapPower

Development of a cannabinoid beverage was good news for investors in a biotech stock Wednesday. Here’s some small stocks making big moves on Wednesday, October 3, 2018 (as of 4 pm EST):

Naturally Splendid Enterprises Ltd. (TSXV:NSP), a biotech stock, gained 24% to $0.31 on Wednesday after announcing that CROP Infrastructure Inc. (CSE:CROP) will now utilize Naturally Splendid’s proprietary HempOmega powder, created from microencapsulated hemp seed oil, in its “CannaDrink” functional beverage line currently being developed.

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As well, shares of North American Construction Group Ltd. (TSX:NOA) added 11% at $13.85 as the provider of heavy construction and mining services said it has agreed to acquire the heavy construction equipment fleet and related assets of Aecon Group for $199.1 million in cash.

Neovasc Inc. (TSX:NVCN), meanwhile, reported what it called “positive” 12-week follow-up data from the first U.S. patient implanted with a Neovasc Reducer, a CE-Marked medical device for the treatment of refractory angina. Neovasc stock popped 17% to $3.36  following the announcement.

Finally, Edison Cobalt Corp. (TSXV:EDDY) shares rose 21% to $0.085 after the cobalt junior announced that the summer prospecting program on its Kittson-Cobalt Property near the town of Cobalt, Ontario has identified a new zone of gold-rich cobalt mineralization located approximately 600 metres north of the historic Kittson mine, with sample results of up to 2.18% cobalt and up to 7.83 g/t gold.

Edison Cobalt Corp (TSXV:EDDY) is a featured sponsored company and has paid a fee for coverage. To learn more, see our full disclosure HERE >>

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

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