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Canadian Cannabis Stock Jumps on Harvest Update

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Reading time: 4 min.

Aleafia Health Inc. (TSX:ALEF)(OTC:ALEAF), a Canadian cannabis stock, moved higher after announcing that it has completed its second harvest

Sean Mason | September 12, 2018 | SmallCapPower

Near-term revenue expectations lifted a Canadian cannabis stock Wednesday. Here’s some small stocks making big moves on Wednesday, September 12, 2018 (as of 4 pm EST):

Aleafia Health Inc. (TSX:ALEF)(OTC:ALEAF), a Canadian cannabis stock, climbed 14% to $1.60 on Wednesday after announcing that it has completed its second harvest at its Port Perry cultivation facility, with the crop expected to be sold to a licensed producer in the near term.

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As well, shares of Datable Technology Corp. (TSXV:DAC) gained 14% to $0.165 as the mobile-based consumer marketing platform provider said that as of the end of August 2018 it has signed 26 new license agreements for PLATFORM³ – its Software as a Service (SaaS) consumer marketing platform – with leading brands including 16 repeat customers and 10 new customers. In total, the Company has agreements that will generate more than $1.7 million in contracted revenues plus transaction revenues.

Newstrike Brands Ltd. (TSXV:HIP), meanwhile, reported that its wholly-owned subsidiary, Up Cannabis Inc., has been notified by the Saskatchewan Liquor & Gaming Authority that it has been cleared as a supplier of cannabis to Saskatchewan Retail and Wholesale Permit Holders once registered on October 17, 2018. Newstrike Brands stock moved up 6% to $0.83 following the announcement.

Finally, New Gold Inc. (TSX:NGD) shares surged 22% to $1.26 after the gold producer announced the appointment of Renaud Adams as its new President and CEO, effective September 12, 2018. Mr. Adams is the former President and Chief Executive Officer of Richmont Mines.

Ubika Research/SmallCapPower has received compensation from Datable Technology Corp. and Aleafia Health Inc. to provide analyst research coverage. For full disclosure please visit 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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