Canadian Marijuana Stock Moves Higher on Expansion Plans

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The Hydropothecary Corporation (TSXV:THCX), a Canadian marijuana stock, jumped after announcing that it will be increasing its production capacity

Sean Mason | December 12, 2017 | SmallCapPower

More land for growing pushed a Canadian marijuana stock to an all-time high Tuesday. Here’s some small stocks making big moves on Tuesday, December 12, 2017 (as of 4 pm EST):

The Hydropothecary Corporation (TSXV:THCX), a Canadian marijuana stock, climbed 18% to $4.11 on Tuesday after announcing that it has acquired 78 acres of land adjacent to its existing 65-acre facility in Gatineau, Quebec, and will be constructing a new 1.0 million sq. ft. greenhouse there, increasing its production capacity to 108,000 kg of dried cannabis per year.

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As well, shares of Redstar Gold Corp. (TSXV:RGC) fell 19% to $0.065 as the gold explorer revealed drill results from its 2017 Fall Drill Program at the Unga Gold Project in Alaska, with the highest interval returning 4.33 g/t gold & 2.13 g/t silver over 0.7 metres.

YDreams Global Interactive Technologies Inc. (TSXV:YD), meanwhile, reported that it has been commissioned by a global media conglomerate to execute a project using YDreams Global’s Augmented Reality technology. YDreams Global stock moved up 20% to $0.275 following the announcement.

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Finally, Transeastern Power Trust (TSXV:TEP.UN) jumped 37% to $0.81 after the company announced a $40 million private placement at a price of $0.48 per unit, and added that it intends to establish a data center operation containing hardware to mine the digital currency Bitcoin predominantly using electricity produced from the OMV Wind Project.

See more Small and Micro Cap Market Movers Daily from Sean Mason. Tomorrow’s big stock market winners could be found here today!

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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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