Canadian Cannabis Stock Moves Higher on Product Shipment

48North Cannabis Corp. (TSXV:NRTH), a Canadian cannabis stock, rose after shipping the first order of its vape product

Sean Mason | March 26, 2020 | SmallCapPower

A vape product milestone pushed a Canadian cannabis stock higher Thursday. Here’s some small stocks making big moves on Thursday, March 26, 2020 (as of 4 pm EST):

48North Cannabis Corp. (TSXV:NRTH), a Canadian cannabis stock, gained 9% to $0.185 on Thursday after announcing that it has shipped the first order of its vape product, Avitas, to the Ontario Cannabis Store for retail sale.

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As well, shares of Alderon Iron Ore Corp. (TSX:IRON) sank 43% to $0.10 as the iron ore junior said Tunghsu Group Co., Ltd has terminated its previously-announced letter of intent to acquire a 26%-38% interest in The Kami Mine Limited Partnership. As a result of this decision, Alderon Iron added that it will be unable to continue to adhere to the terms of the Loan Facility when it becomes due on March 31, 2020.

Cipher Pharmaceuticals Inc. (TSX:CPH), meanwhile, reported a Fiscal 2019 profit of $0.10 per share, up from $0.04 per share during 2018. Cipher Pharmaceuticals stock popped 67% to $0.70 following the announcement.

Finally, TinkerineStudios Ltd. (TSXV:TTD) shares jumped 133% to $0.105 after the provider of 3D printing products announced that it has provided Tinkerine face shields to more than 50 medical professionals, municipalities, and healthcare facilities for evaluation.

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

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