Canadian Cannabis Stock Climbs on Expansion Approval

Eve & Co Incorporated (TSXV:EVE), a Canadian cannabis stock, jumped after Health Canada approved an amendment to the license of its subsidiary

Sean Mason | December 16, 2019 | SmallCapPower

A license amendment approval caused a Canadian cannabis stock to sprout higher Monday. Here’s some small stocks making big moves on Monday, December 16, 2019 (as of 4 pm EST):

Eve & Co Incorporated (TSXV:EVE), a Canadian cannabis stock, surged 36% to $0.19 on Monday after announcing that Health Canada has approved an amendment to the license of its wholly-owned subsidiary, Natural MedCo Ltd., which would expand its growing operation by 780,000 square feet.

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As well, shares of Touchstone Exploration Inc. (TSX:TXP) soared 79% to $0.42 as the oil and gas producer/explorer said it has made what the Company calls “a significant crude oil discovery” on the Ortoire exploration block, onshore in the Republic of Trinidad and Tobago.

Valens GroWorks Corp. (TSXV:VGW), meanwhile, provided Q4 2019 revenue guidance of $27 million to $30 million, a near doubling of Q3 2019 reported revenue and resulting in estimated 2019 annual revenue of $55 million to $58 million. Valens GroWorks stock moved up 6% to $3.08 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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