A supply and equity agreement pushed a Canadian marijuana stock sharply higher Monday. Here’s some small stocks making big moves on Monday, December 3, 2018 (as of 4 pm EST):
48North Cannabis Corp. (TSXV:NRTH), a Canadian marijuana stock, climbed 19% to $0.57 on Monday after announcing that Canopy Growth Corporation (TSX:WEED) will take an approximate 3.4% stake in 48North at a price of $0.75 per share. 48North Cannabis has also agreed to supply a minimum of 1,200 kilograms of dried cannabis to Canopy Growth over the course of 12 months.
As well, shares of Photon Control Inc. (TSX:PHO) slipped 6% to $1 as the developer and supplier of optical measurement technologies said its President and Chief Executive Officer Scott Edmonds has left the Company to pursue other interests.
Fiore Gold Ltd. (TSXV:F), meanwhile, reported an updated resource estimate for its Pan open pit mine in Nevada, which showed a Measured and Indicated resource of 27.6 million tonnes grading 0.49 g/t containing 432,000 ounces of gold as well as an Inferred Resource of 7.6 million tonnes grading 0.45 g/t containing 110,000 ounces of gold. Fiore Gold stock moved up 21% to $0.345 following the announcement.
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
To read our full disclosure, please click on the button below:
The Content contained on this page (including any facts, views, opinions, recommendations, description of, or references to, products or securities) made available by SmallCapPower/Ubika Research is for information purposes only and is not tailored to the needs or circumstances of any particular person. Any mention of a particular security is merely a general discussion of the merits and risks associated there with and is not to be used or construed as an offer to sell, a solicitation of an offer to buy, or an endorsement, recommendation, or sponsorship of any entity or security by SmallCapPower/Ubika Research. The Reader should apply his/her own judgment in making any use of any Content, including, without limitation, the use of any information contained therein as the basis for any conclusions. The Reader bears responsibility for his/her own investment research and decisions. Before making any investment decision, it is strongly recommended that you seek outside advice from a qualified investment advisor. SmallCapPower/Ubika Research does not provide or guarantee any financial, legal, tax, or accounting advice or advice regarding the suitability, profitability, or potential value of any particular investment, security, or information source. Ubika and/or its affiliates and/or their respective officers, directors or employees may from time to time acquire, hold or sell securities and/or commodities and/or commodity futures contracts in certain underlying companies mentioned in this site and which may also be clients of Ubika’s affiliates. In such instances, Ubika and/or its affiliates and/or their respective officers, directors or employees will use all reasonable efforts to avoid engaging in activities that would lead to conflicts of interest and Ubika and/or its affiliates will use all reasonable efforts to comply with conflicts of interest disclosures and regulations to minimize the conflict.
48North Cannabis Corp. (TSXV:NRTH), a Canadian marijuana stock, climbed 19% to $0.57 on Monday after announcing that Canopy Growth Corporation (TSX:WEED) will take an approximate 3.4% stake in 48North at a price of $0.75 per share. 48North Cannabis has also agreed to supply a minimum of 1,200 kilograms of dried cannabis to Canopy Growth over the course of 12 months.
