More growing space caused a Canadian marijuana stock to sprout higher Wednesday. Here’s some small stocks making big moves on Wednesday, November 22, 2017 (as of 4 pm EST):
WeedMD Inc. (TSXV:WMD), a Canadian marijuana stock, climbed 33% to $2.08 on Wednesday after announcing that it has entered into a definitive lease and purchase option agreement with greenhouse cultivator Perfect Pick Farms Ltd., in which WeedMD will initially lease 217,800 sq. ft. of greenhouse space with an option to purchase the property, greenhouse facilities and infrastructure. WeedMD added that this expansion will increase its annual production from 1,200 kg to more than 21,000 kg in the initial 217,800 sq. ft. leased space.
As well, shares of First Cobalt Corp. (TSXV:FCC) jumped 30% to $0.99 as the cobalt junior said the shareholders of CobalTech Mining Inc. (TSXV:CSK) have approved the merger with First Cobalt. CobalTech Mining shares gained 27% to $0.235 on the news.
Mammoth Resources Corp. (TSXV:MTH), meanwhile, reported that all drill equipment and a D6 Caterpillar bulldozer have been mobilized to its Tenoriba, High Sulphidation gold-silver exploration project in Mexico in preparation for drilling. Mammoth Resources stock popped 41% to $0.12 following the announcement.
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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WeedMD Inc. (TSXV:WMD), a Canadian marijuana stock, climbed 33% to $2.08 on Wednesday after announcing that it has entered into a definitive lease and purchase option agreement with greenhouse cultivator Perfect Pick Farms Ltd., in which WeedMD will initially lease 217,800 sq. ft. of greenhouse space with an option to purchase the property, greenhouse facilities and infrastructure. WeedMD added that this expansion will increase its annual production from 1,200 kg to more than 21,000 kg in the initial 217,800 sq. ft. leased space.
