Canadian Marijuana Stock Climbs on Australia Expansion

Cronos Group Inc. (TSXV:MJN), a Canadian marijuana stock, moved sharply higher after announcing the launch of Cronos Australia Pty

Sean Mason | February 5, 2018 | SmallCapPower

A move Down Under gave a big lift to a Canadian marijuana stock Monday. Here’s some small stocks making big moves on Monday, February 5, 2018 (as of 4 pm EST):

Cronos Group Inc. (TSXV:MJN), a Canadian marijuana stock, jumped 8% to $7.36 on Monday after announcing the launch of Cronos Australia Pty Ltd. and the grant of medicinal cannabis cultivation and research licenses.

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As well, shares of NextSource Materials Inc. (TSX:NEXT) fell 13% to $0.13 as the graphite project developer said Oliver Peters will commission the Company’s Molo graphite mine in Madagascar and act as the Company’s principal process engineering consultant for Phase 1 of the Molo mine.

Agility Health, Inc. (TSXV:AHI), meanwhile, reported that it has signed a definitive agreement to sell 100% of its U.S.-based assets to Alliance Physical Therapy Management, LLC for US$45 million. Agility Health stock popped as much as 54% before dropping 23% to $0.05 following the announcement.

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Finally, Tetra Bio-Pharma Inc. (TSXV:TBP) shares rose 7% to $1.09 after the provider of cannabinoid-based drug development and discovery announced that it has received a No Objection Letter from the Therapeutic Products Directorate Health Canada to its Clinical trial application for the Company’s PPP001 prescription smokable dried cannabis product.

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

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