Canadian Cannabis Stock Climbs on Expansion Update

Eve & Co Incorporated (TSXV:EVE), a Canadian cannabis stock, moved higher after announcing Health Canada approval for expansion of its licensed grow and operation areas

Sean Mason | December 10, 2018 | SmallCapPower

More growing space was great news for investors in a Canadian cannabis stock Monday. Here’s some small stocks making big moves on Monday, December 10, 2018 (as of 4 pm EST):

Eve & Co Incorporated (TSXV:EVE), a Canadian cannabis stock, jumped 15% to $0.275 on Monday after announcing that Health Canada has authorized Natural MedCo Ltd., its wholly-owned subsidiary, to use its previously-constructed 100,000 sq. ft. second flowering room as a grow area, and a packaging room as an operations area. With the addition of these approved areas, Eve & Co now has 220,000 sq. ft. of licensed grow and operation areas, with harvesting at its second flowering room expected by late March 2019.

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As well, shares of Lydian International Limited (TSX:LYD) gained 23% to $0.16 as the gold junior said that the Administrative Court of the Republic of Armenia has accepted the Company’s lawsuit appealing a directive issued by Mr. Artur Grigoryan, the head of the Republic of Armenia’s Environmental and Mining Inspection Body, to refrain from any mining-related activities at the Amulsar project.

Perisson Petroleum Corporation (TSXV:POG), meanwhile, reported that it has signed an investment agreement, in which Lan-cheng Limited, General Partner to Lan-cheng Westcity LP, has agreed to invest up to US$50 million into Perisson by way of a private placement at an approximate price of US$0.95413 per unit. Perisson Petroleum stock moved up 18% to $0.33 following the announcement.

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

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