Canadian Cannabis Stock Climbs on Supply Deal

Eve & Co Incorporated (TSXV:EVE), a Canadian cannabis stock, rose after announcing a second binding supply agreement with a German distributor

Sean Mason | May 30, 2019 | SmallCapPower

A notable German supply agreement lifted shares of a Canadian cannabis stock Thursday. Here’s some small stocks making big moves on Thursday, May 30, 2019 (as of 4 pm EST):

Eve & Co Incorporated (TSXV:EVE), a Canadian cannabis stock, moved 4% higher to $0.415 on Thursday after announcing that its wholly-owned subsidiary, Natural MedCo Ltd., has entered into a second binding non-exclusive supply agreement for the sale of dried cannabis to a German importer and distributor. The German distributor has agreed to purchase 500 kilograms of dried cannabis per month for the first two months and a minimum of 1,000 kilograms and a maximum of 5,000 kilograms per month for the next 22 months.

For Our Complete Coverage Of Canadian Marijuana Stocks Click Here     

As well, shares of Leonovus Inc. (TSXV:LTV) slid 21% to $0.075 after the multi-cloud data controller software provider said it has engaged Entoro Securities, LLC to act as the lead placement agent for the offer and sale of the Company’s digital security (GAAX) to accredited investors to fund the Galaxa project.

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BRP Inc. (TSX:DOO), meanwhile, reported a 17% increase in its first-quarter revenue to $1.3 billion, while diluted earnings per share for the period surged 92% to $0.25. BRP stock popped 16% to $41.79 following the announcement.

Finally, RESAAS Services Inc. (TSXV:RSS) shares gained 32% to $0.29 after the cloud-based and blockchain technology platform provider announced that its Q1 2019 revenue increased 86% year over year, while expenses decreased by 67%.

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

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