Canadian Marijuana Stock Rises on Expansion Plans

National Access Cannabis Corp. (CVE:NAC), a Canadian marijuana stock, moved higher after announcing that it has expanded its Alberta operations

Sean Mason | November 17, 2017 | SmallCapPower

An Alberta expansion pushed up the price of a Canadian marijuana stock Friday. Here’s some small stocks making big moves on Friday, November 17, 2017 (as of 4 pm EST):

National Access Cannabis Corp. (TSXV:NAC), a Canadian marijuana stock, jumped 17% to $0.27 on Friday after announcing that it has expanded its Alberta operations with the signing of a lease for a new care clinic in Edmonton’s Old Strathcona District.

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As well, shares of Oncolytics Biotech Inc. (TSX:ONC) surged 35% to $0.77 as the biotech company said it has entered into a Regional Licensing Agreement with Adlai Nortye (Adlai), which will have exclusive development and commercialization rights to REOLYSIN in China, Hong Kong, Macau, Singapore, South Korea and Taiwan. Oncolytics will receive an upfront licensing fee and milestone payments of US$21.2 million, and is eligible to receive up to an additional US$65.4 million upon achievement of clinical, regulatory and commercialization milestones.

Tornado Global Hydrovacs Ltd. (TSXV:TGH), meanwhile, reported that its third-quarter revenue increased 13% to $7.6 million, while swinging to a profit of $79,000 during the quarter. Tornado Global Hydrovacs stock moved up 28% to $0.115 following the announcement.

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Finally, Macarthur Minerals Limited (TSXV:MMS) shares gained 21% to $0.085 after the junior explorer announced that it has finalized heritage agreements with the Palyku and Njamal native title claimants, paying the way for all the Exploration Licences in the Pilbara to be granted in a matter of days.

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Disclosure: Neither the author nor any of the principals at SmallCapPower, or their family members, own shares in any of the companies mentioned above.

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