Canadian Marijuana Stock Sprouts Up on Supply Deal

Emerald Health Therapeutics, Inc. (TSXV:EMH), a Canadian marijuana stock, rose after becoming an approved Ontario Cannabis Retail Corporation supplier

Sean Mason | September 7, 2018 | SmallCapPower

A supplier agreement with Canada’s biggest province lifted a Canadian marijuana stock Friday. Here’s some small stocks making big moves on Friday, September 7, 2018 (as of 4 pm EST):

Emerald Health Therapeutics, Inc. (TSXV:EMH), a Canadian marijuana stock, climbed 19% to $5.20 on Friday after announcing that it has been selected as an approved supplier by the Ontario Cannabis Retail Corporation to supply the province of Ontario with its cannabis products in anticipation of the adult-use market starting October 17, 2018.

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As well, shares of Emblem Corp. (TSXV:EMC) gained 11% to $1.70 as the Canadian cannabis producer said it has entered into a five-year supply and preferred vendor agreement with Compass Cannabis Clinic to become a preferred cannabis supplier through its wholly-owned subsidiary Starbuds Canada.

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WeedMD Inc. (TSXV:WMD), meanwhile, reported that it has completed the first harvest from its greenhouse in Strathroy, Ontario. The Company added that another 16 grow rooms from the first 220,000 sq. ft. are scheduled to be progressively brought online over the remainder of 2018, with an additional 300,000 sq. ft. from its Phase 2 expansion anticipated to be online by the end of December 2018. WeedMD stock moved up 7% to $2.22 following the announcement.

Finally, GTEC Holdings Ltd. (TSXV:GTEC) shares added as much as 13% before ending down 1% to $0.97 after the cannabis company announced that its wholly-owned subsidiary, Zenalytic Laboratories, has received approval from Health Canada to expand the scope of its Dealers License to process cannabis flower into cannabis oil.

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

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