Canadian Cleantech Stock Powers Up on Financial Results

Thermal Energy International Inc. (TSXV:TMG), a Canadian cleantech stock, climbed after announcing record third-quarter financial results

Sean Mason | May 27, 2020 | SmallCapPower

Record revenue and profit sparked a Canadian cleantech stock Wednesday. Here’s some small stocks making big moves on Wednesday, May 27, 2020 (as of 4 pm EST):

Thermal Energy International Inc. (TSXV:TMG), a Canadian cleantech stock, gained 14% to $0.08 on Wednesday after announcing third-quarter 2020 revenue that surged 87% year over year to $2.7 million. The Company also generated a record year-to-date net profit of $1.1 million.

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As well, shares of The Green Organic Dutchman Holdings Ltd. (TSX:TGOD) slid 10% to $0.485 as the Canadian cannabis company said it generated first-quarter revenue of $3.06 million, an increase of 27% year over year. TGOD added that it is on track to become operationally cash flow positive later this year.

Torstar Corporation (TSX:TS.B), meanwhile, reported that it has agreed to be acquired by NordStar Capital LP in consideration for $0.63 per share in cash. Torstar stock popped 50% to $0.60 following the announcement.

Finally, Pacific Empire Minerals Corp. (TSXV:PEMC) shares rose 20% to $0.06 after the junior explorer announced that it has entered into an option agreement to acquire a 100% interest in the Jean Marie Project, a copper-gold-silver-molybdenum porphyry project located in British Columbia.

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

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