Canadian Cannabis Stock Climbs on Business Sale

Emerald Health Therapeutics, Inc. (TSXV:EMH), a Canadian cannabis stock, got a lift after agreeing to sell its Quebec cannabis business

Sean Mason | July 31, 2020 | SmallCapPower

A Canadian cannabis stock moved higher Friday following a Quebec asset sale. Here’s some small stocks making big moves on Friday, July 31, 2020 (as of 4 pm EST):

Emerald Health Therapeutics, Inc. (TSXV:EMH), a Canadian cannabis stock, jumped 11% to $0.21 on Friday after announcing that it has agreed to sell its Quebec cannabis business to Quinto Resources in consideration for $21 million in cash.

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As well, shares of Clean TeQ Holdings Limited (TSX:CLQ) slipped 6% to $0.17 as the metals recovery and industrial water treatment provider said it expects to realize a non-cash write down of the carrying value of its Sunrise Project and project-related assets in the amount of approximately A$180 million during its 2020 Fiscal Year.

Acasti Pharma Inc. (TSXV:ACST), meanwhile, reported that it has completed its revisions to the pre-specified Statistical Analysis Plan for the TRILOGY 2 Phase 3 trial of CaPre, and has filed it with the Food and Drug Administration (FDA). The Company added that it remains on track to report TRILOGY 2 topline data on or about August 31, 2020. Acasti Pharma stock moved up 17% to $1.01 following the announcement.

Finally, Nevada Sunrise Gold Corporation (TSXV:NEV) shares continued to move higher Friday, up 9% to $0.185 following a 26% gain on Thursday, after the junior explorer announced that drilling has begun at its 20.01% owned Kinsley Mountain Gold Project in Nevada. Joint venture partner and project operator New Placer Dome Gold Corp. (TSXV:NGLD) owns the remaining 79.9% interest.

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

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