Canadian Cannabis Stock Moves Sharply Higher on Supply Deal

MediPharm Labs Corp. (TSXV:LABS), a Canadian cannabis stock, climbed after announcing a cannabis oil concentrates sales agreement

Sean Mason | February 12, 2019 | SmallCapPower

A cannabis oil supply agreement lit a fire under a Canadian cannabis stock Tuesday. Here’s some small stocks making big moves on Tuesday, February 12, 2019 (as of 4 pm EST):

MediPharm Labs Corp. (TSXV:LABS), a Canadian cannabis stock, surged 34% to $2.59 on Tuesday after announcing that its wholly-owned subsidiary has entered into a sales agreement with a leading Licensed Producer to supply approximately $35 million of private label purified cannabis oil concentrates.

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As well, shares of DHX Media Ltd. (TSX:DHX) fell 13% to $2.16 as the children’s content and brands company said its second-quarter revenue slipped to $117.0 million from $121.9 million, while swinging to a net loss of $17.9 million from a profit of $7.4 million during the same period last year.

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Cartier Resources Inc. (TSXV:ECR), meanwhile, reported drill results from Zone 5NE of the Chimo Mine property in Quebec, which included 10.6 g/t gold over 6.0 metres. Cartier Resources stock popped 23% to $0.135 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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