Canadian Marijuana Stock Climbs on Cultivation Start

James E. Wagner Cultivation Corporation (TSXV:JWCA), a Canadian marijuana stock, moved higher after starting cultivation activities at its second facility in Kitchener

Sean Mason | April 1, 2019 | SmallCapPower

Commencement of cultivation was good news for investors in a Canadian marijuana stock Monday. Here’s some small stocks making big moves on Monday, April 1, 2019 (as of 4 pm EST):

James E. Wagner Cultivation Corporation (TSXV:JWCA), a Canadian marijuana stock, jumped 13% to $1.12 on Monday after announcing that it has begun cultivation activities at its second facility in Kitchener, Ontario, after receiving its cultivation license from Health Canada on March 29, 2019.

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As well, shares of Lithium Americas Corp. (TSX:LAC) gained 10% to $5.58 as the lithium junior said China’s Ganfeng Lithium Co., Ltd. will pay US$160 million for a 50% interest in LAC’s Caucharí-Olaroz lithium brine project in Argentina.

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Maxar Technologies Ltd. (TSX:MAXR), meanwhile, reported that its MDA subsidiary has signed a C$4 million contract with Lockheed Martin Canada for the initial phase of design work for the Canadian Surface Combatant ship’s Electronic Warfare system. Maxar Technologies stock moved up 10% to $5.92 following the announcement.

Finally, Village Farms International, Inc. (TSX:VFF) shares rose 9% to $15.32 after the vertically-integrated greenhouse grower announced that it plans to double its targeted annual production to 150,000 kilograms by exercising its option on the Village Farms-owned 1.1 million square foot Delta 2 greenhouse facility.

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

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