Canadian Cannabis Stock Moves Higher on Supply Deal

VIVO Cannabis Inc. (TSX:VIVO), a Canadian cannabis stock, rose after announcing a new supply agreement with MediPharm Labs Australia

Sean Mason | June 19, 2020 | SmallCapPower

A Down Under supply agreement lifted a Canadian cannabis stock Friday. Here’s some small stocks making big moves on Friday, June 19, 2020 (as of 4 pm EST):

VIVO Cannabis Inc. (TSX:VIVO), a Canadian cannabis stock, gained 12% to $0.24 on Friday after announcing that it has entered into a new supply agreement with MediPharm Labs Australia Pty. Ltd.

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As well, shares of Mission Ready Solutions Inc. (TSXV:MRS) jumped 9% to $0.125 as the provider of protective equipment for the military as well as first responders said it has received a C$2.9 million purchase order from a United States Small Business Administration certified company to manufacture and supply specialized body armor systems for the United States Department of Defense. In addition, Mission Ready received a C$4.4 million purchase order from the United State Department of Health and Human Services for the procurement and supply of personal protective equipment for the Indian Health Service.

Sierra Metals Inc. (TSX:SMT), meanwhile, reported the discovery of a new silver zone at its Cusi Mine in Mexico, with drill results that included 17.45 meters of 428 grams per tonne (g/t) silver. Sierra Metals stock popped 39% to $1.40 following the announcement.

Finally, Blackrock Gold Corp. (TSXV:BRC) shares fell 15% to $0.25 after the junior explorer announced that it has received all assays from the spring drill program at its Silver Cloud project in Nevada, in which the entire 25-metre zone returned an average grade of 0.121 g/t gold.

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

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