Canadian Cannabis Stock Moves Higher on Edibles License

Namaste Technologies Inc. (TSXV:N), a Canadian cannabis stock, surged after Choklat received a processing license from Health Canada

Sean Mason | January 13, 2020 | SmallCapPower

A processing license from Health Canada powered a Canadian cannabis stock sharply higher Monday. Here’s some small stocks making big moves on Monday, January 13, 2020 (as of 4 pm EST):

Namaste Technologies Inc. (TSXV:N), a Canadian cannabis stock, jumped 9% to $0.375 on Monday after announcing that Choklat Inc, in which the Company has a 49% equity stake, has received a processing license from Health Canada to produce a line of chocolate bars, drink mixes and infused sugar.

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As well, shares of Acasti Pharma Inc. (TSXV:ACST) plunged 65% to $1 as the biopharmaceutical company revealed topline results for the Primary Endpoint from its Phase 3 TRILOGY 1 trial for its lead product candidate CaPre, saying the study did not reach statistical significance due to unusually large placebo effect.

Fire & Flower Holdings Corp. (TSX:FAF), meanwhile, reported that it has achieved the milestone of 45 open and operating cannabis retail stores. Fire & Flower stock moved up 12% to $1.04 following the announcement.

Finally, Millennial Lithium Corp. (TSXV:ML) shares gained 3% to $1.30 after the lithium junior announced that the Mining Court of Salta has granted Millennial’s Argentine subsidiary, Proyecto Pastos Grandes S.A., four of the five mining licenses that comprised the original REMSA Properties.

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

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