Canadian Cannabis Stock Slips on Financial Results

Auxly Cannabis Group Inc. (TSXV:XLY), a Canadian cannabis stock, slid after financial results showed a larger net loss

Sean Mason | March 29, 2019 | SmallCapPower

A bigger annual loss weighed down a Canadian cannabis stock Friday. Here’s some small stocks making big moves on Friday, March 29, 2019 (as of 4 pm EST):

Auxly Cannabis Group Inc. (TSXV:XLY), a Canadian cannabis stock, fell 11% to $0.86 on Friday after announcing that its fiscal 2018 net loss widened to $66,988 from $18,177 during 2017.

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As well, shares of Nickel One Resources Inc. (TSXV:NNN) gained 43% to $0.05 as the junior explorer said it has entered into a Settlement Agreement with certain dissident shareholders of the Company.

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Dundee Corporation (TSX:DC.A), meanwhile, reported a fiscal 2018 net loss of $202.4 million, compared with a net loss of $52.5 million during 2017. Dundee Corp stock dropped 17% to $1.15 following the announcement.

Finally, Trigon Metals Inc. (TSXV:TM) shares rose 29% to $0.11 after the copper explorer announced that its monthly corporate overhead expenses have been reduced by approximately $60,000. The Company also said Silvercorp Metals Inc. has made a strategic investment in Trigon.

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

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