Canadian Healthcare Stock Climbs on License Update

Numinus Wellness Inc. (TSXV:NUMI), a Canadian healthcare stock, jumped after receiving Health Canada approval to research extraction of psilocybin from mushrooms

Sean Mason | June 11, 2020 | SmallCapPower

‘Magic’ mushrooms research pushed a Canadian healthcare stock higher Thursday. Here’s some small stocks making big moves on Thursday, June 11, 2020 (as of 4 pm EST):

Numinus Wellness Inc. (TSXV:NUMI), a Canadian healthcare stock, gained as much as 12% on Thursday after announcing that it has received Health Canada approval to amend the Company’s existing License under the Controlled Drug and Substances Act to allow Numinus researchers to conduct research to standardize the extraction of psilocybin from mushrooms.

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As well, shares of Great Bear Resources Ltd. (TSXV:GBR) rose 3% to $12.53 as the gold junior released additional drill results from its flagship Dixie Project in the Red Lake district of Ontario, which included 31.33 grams per tonne (g/t) gold over 20.55 metres.

HEXO Corp. (TSX:HEXO), meanwhile, reported better-than-expected Q3 2020 revenue that rose 30% quarter over quarter to $22.1 million. HEXO stock moved up as much as 10% following the announcement.

Finally, First Mining Gold Corp. (TSX:FF) shares added as much as 5% after the resource junior announced that First Majestic Silver will pay the Company US$22.5 million for the right to purchase 50% of the payable silver produced from Springpole Gold Project in Ontario for the lifetime of the Project.

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

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