Canadian Cannabis Stock Climbs on Supply Deal

Zenabis Global Inc. (TSX:ZENA), a Canadian cannabis stock, rose after entering into a supply agreement with a subsidiary of Tilray, Inc. (NASDAQ:TLRY)

Sean Mason | July 2, 2019 | SmallCapPower

A large supply agreement with Tilray powered a Canadian cannabis stock sharply higher Tuesday. Here’s some small stocks making big moves on Tuesday, July 2, 2019 (as of 4 pm EST):

Zenabis Global Inc. (TSX:ZENA), a Canadian cannabis stock, moved as much as 18% higher on Tuesday after announcing that it has entered into an agreement with High Park Holdings Ltd., a wholly-owned subsidiary of Tilray, Inc., pursuant to which High Park will advance C$30 million to Zenabis in return for a supply of dried cannabis from Zenabis. The Company will deliver a monthly quantity of dried cannabis to High Park beginning in October 2019.

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As well, shares of Golden Predator Mining Corp. (TSXV:GPY) jumped 24% to $0.34 as the gold junior said it has received support from the Yukon Government as well as the Tr’ondek Hwech’in First Nations to restart its Brewery Creek mine.

BlockchainK2 Corp. (TSXV:BITK), meanwhile, reported that it has made a US$500,000 investment in Envexergy Inc., a blockchain investment network providing global access and secondary trading for alternative investments. BlockchainK2 stock moved up 32% to $0.27 following the announcement.

Finally, Aleafia Health Inc. (TSX:ALEF) shares rose 3% to $1.36 after the medical cannabis company announced that it has received multiple Export Permits from Health Canada, which will allow the Company to begin its first international cannabis product shipment to Australia.

Aleafia Health Inc. (TSX:ALEF) is a featured sponsored company and has paid a fee for coverage. To learn more, see our full disclosure HERE >>

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

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