Canadian Cannabis Stock Rises on Hemp Acquisition

Pure Global Cannabis Inc. (TSXV:PURE), a Canadian cannabis stock, jumped after announcing a binding LOI to acquire The Great Canadian Hemp Company

Sean Mason | April 18, 2019 | SmallCapPower

A pending hemp company acquisition lifted a Canadian cannabis stock Wednesday. Here’s some small stocks making big moves on Thursday, April 18, 2019 (as of 4 pm EST):

Pure Global Cannabis Inc. (TSXV:PURE), a Canadian cannabis stock, moved up 3% to $0.18 on Thursday after announcing a binding Letter of Intent to acquire Ottawa-based The Great Canadian Hemp Company, Ltd. in consideration for $60,000 in cash plus $500,000 in Pure Global common shares at a price equal to $0.20 per share.

For Our Complete Coverage Of Canadian Marijuana Stocks Click Here     

As well, shares of San Marco Resources Inc. (TSXV:SMN) sank 18% to $0.045 as the junior explorer said Antofagasta plc has decided not to proceed with an earn-in agreement involving San Marco’s 100% owned Chunibas Project in Mexico.

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Neovasc Inc. (TSX:NVCN) stock, meanwhile, continued to move higher, up 2% to $0.70 following a 26% gain on Wednesday, after the biotech company reported that it has resolved the three claims for correction of patent inventorship made by Edwards Lifesciences CardiAQ LLC in the United States District Court for the District of Massachusetts.

Finally, Aleafia Health Inc. (TSX:ALEF) shares gained 8% to $1.78 after the medical cannabis company announced the launch of Symbl Atmosphere, the Company’s first adult-use oral metered-dose cannabis spray.

Aleafia Health Inc. (TSX:ALEF) 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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