Canadian Marijuana Stock Moves Higher in Market Debut

48North Cannabis Corp. (TSXV:NRTH), a Canadian marijuana stock, rose after its shares began trading on the TSX Venture Exchange

Sean Mason | June 11, 2018 | SmallCapPower

A female-focused Canadian marijuana stock made quite an impressive on its first day of trading Monday. Here’s some small stocks making big moves on Monday, June 11, 2018 (as of 4 pm EST):

48North Cannabis Corp. (TSXV:NRTH), a Canadian marijuana stock, climbed as much as 21% on Monday after its shares began trading on the TSX Venture Exchange. 48North has branded itself as female-focused health and wellness cannabis company.

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Read: Canadian Cannabis Stocks That Are Top Takeover Targets  

As well, shares of Corridor Resources Inc. (TSX:CDH) sank 32% to $0.71 as the oil and gas producer/explorer said it has decided to suspend work on the Old Harry prospect in the Gulf of St. Lawrence due to, among other factors, the geological structure being more complicated than previously understood.

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Correvio Pharma Corp. (TSX:CORV), meanwhile, reported that the U.S. Food and Drug Administration (FDA) has informed Correvio that it would be permissible to resubmit the BRINAVESS, Correvio’s antiarrhythmic drug for the rapid conversion of recent onset atrial fibrillation, New Drug Application and agreed that the Company may schedule a Pre-NDA meeting, which Correvio expects will take place in the fourth quarter of 2018. Correvio Pharma stock popped 46% to $3.95 following the announcement.

Finally, Medgold Resources Corp. (TSXV:MED) shares shot up 37% to $0.425 after the prospect generator announced initial results from the inaugural drill program at its flagship Tlamino Gold Project in Serbia, which included 34.65 metres of 3.11 g/t gold. Fortuna Silver Mines has an option to earn a 70% interest in the project by spending US$8 million on exploration over five years and completing a Preliminary Economic Assessment.

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

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