Canadian Cannabis Stock Goes Higher on Supply Deal

Delta 9 Cannabis Inc. (TSX:DN), a Canadian cannabis stock, rose after announcing a supply agreement with the British Columbia Liquor Distribution Branch

Sean Mason | October 4, 2019 | SmallCapPower

A distribution agreement involving B.C. ‘bud’ boosted a Canadian cannabis stock Friday. Here’s some small stocks making big moves on Friday, October 4, 2019 (as of 4 pm EST):

Delta 9 Cannabis Inc. (TSX:DN), a Canadian cannabis stock, climbed 9% to $0.71 on Friday after announcing that the British Columbia Liquor Distribution Branch has provided the Company with authorization to supply non-medical cannabis for retail sale in the province of British Columbia.

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As well, shares of Tidewater Midstream and Infrastructure Ltd. (TSX:TWM) slipped 11% to $1 as the midstream energy and infrastructure company said it has agreed to acquire Husky Energy Inc.’s light oil refinery in Prince George, British Columbia for a base purchase price of $215 million.

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Evergold Corp. (TSXV:EVER), meanwhile, reported that it has completed an initial public offering of 17.25 million units of the Company at a purchase price of $0.20 per unit for gross proceeds of $3.45 million. Evergold is exploring its Snoball and Golden Lion properties in British Columbia’s Golden Triangle. Evergold stock moved up 5% to $0.21 on its first day of trading.

Finally, Nubeva Technologies Ltd. (TSXV:NBVA) shares rose 39% to $0.125 after the SaaS software developer announced that it received the 2019 Stratus Award from the Business Intelligence Group.

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

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