Canadian Cannabis Stock Jumps on Joint Venture

Khiron Life Sciences Corp. (TSXV:KHRN), a Canadian cannabis stock, climbed after announcing a JV with Dixie Brands Inc. (CSE:DIXI.U)

Sean Mason | January 30, 2019 | SmallCapPower

A Latin American Joint Venture (JV) sparked much speculation in a Canadian cannabis stock Wednesday. Here’s some small stocks making big moves on Wednesday, January 30, 2019 (as of 4 pm EST):

Khiron Life Sciences Corp. (TSXV:KHRN), a Canadian cannabis stock, surged 19% to $2.35 on Wednesday after announcing a binding letter of intent to establish a 50/50 joint venture with Dixie Brands Inc. (CSE:DIXI.U) to introduce a full line of cannabis-infused products to the Latin American market.

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As well, shares of Rusoro Mining Ltd. (TSXV:RML) sank 40% to $0.06 as the resource junior said the Paris Court of Appeals partially annulled the arbitral award issued in favour of the Company in August 2016. Rusoro added that the French Court Decision does not impact Venezuela’s obligation to pay the Company at least US$100 million as partial payment for the expropriated investments under the agreement executed between them in October 2018.

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Theralase Technologies Inc. (TSXV:TLT), meanwhile, reported that patient six, enrolled and treated in the recently-completed Phase Ib Non-Muscle Invasive Bladder Cancer clinical study, has demonstrated no tumour recurrence or presence of disease at the 270-day clinical and cystoscopy assessment. Theralase Technologies stock moved up 12% to $0.34 following the announcement.

Finally, Walker River Resources Corp. (TSXV:WRR) shares gained 22% to $0.11 after the gold junior announced initial drill results from the late 2018 reverse circulation drill program on the Lapon Canyon Gold Project in Nevada, which included 31.1 g/t gold (uncut) over 13.7 meters.

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

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