Canadian Marijuana Stock Powers Higher on Financing

Eve & Co Incorporated (TSXV:EVE), a Canadian marijuana stock, climbed after announcing a construction facility with Royal Bank of Canada

Sean Mason | March 19, 2019 | SmallCapPower

A financing arrangement with a Big Canadian bank boosted a Canadian marijuana stock Tuesday. Here’s some small stocks making big moves on Tuesday, March 19, 2019 (as of 4 pm EST):

Eve & Co Incorporated (TSXV:EVE), a Canadian marijuana stock, jumped as much as 13% on Tuesday after announcing that it has entered into an $18.7 million construction facility with Royal Bank of Canada to fund the completion of the 780,000 sq. ft. expansion of Eve & Co’s greenhouse production facility located in Middlesex County, Ontario.

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As well, shares of Aleafia Health Inc. (TSX:ALEF) rose 6% to $2.39 as the medical cannabis company’s stock began trading on the Toronto Stock Exchange after graduating from the TSX Venture exchange.

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Luminex Resources Corp. (TSXV:LR), meanwhile, reported that it has entered into a non-binding letter of intent for an earn-in and joint venture agreement with a wholly-owned subsidiary of BHP Group plc on Luminex’s Tarqui 1 & 2 mining concessions in Ecuador. BHP will have the right to earn up to a 70% ownership interest in the Property by investing an aggregate amount up to US$75 million and making up to US$7 million in cash payments to Luminex. Luminex Resources stock moved up 20% to $0.72 following the announcement.

Finally, Lydian International Limited (TSX:LYD) shares gained 5% to $0.10 after the gold junior announced that the Republic of Armenia Government has begun its third-party assessment of the Amulsar Gold Project’s environmental impact on water resources, geology, biodiversity and water quality.

Aleafia Health Inc. (TSX:ALEF) is a featured sponsored company and has paid SmallCapPower.com a fee for coverage. To learn more, see our full disclosure HERE >>

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

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