Canadian Marijuana Stock Moves Higher on Expansion Plans

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.

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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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