Canadian Marijuana Stock Climbs on License Update

Emerald Health Therapeutics, Inc. (TSXV:EMH), a Canadian marijuana stock, jumped after announcing that its Pure Sunfarms JV has received a license for its second facility

Sean Mason | May 25, 2020 | SmallCapPower

A second facility cultivation license powered a Canadian marijuana stock sharply higher Monday. Here’s some small stocks making big moves on Monday, May 25, 2020 (as of 4 pm EST):

Emerald Health Therapeutics, Inc. (TSXV:EMH), a Canadian marijuana stock, surged as much as 26% on Monday after announcing that its Pure Sunfarms joint venture has received its cannabis cultivation and sales license from Health Canada based on an initial production area within its second 1.1 million square foot greenhouse facility in Delta, British Columbia, allowing it to expand capacity as needed through successive license amendments. The Company added that Pure Sunfarms intends to launch vape products this summer.

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As well, shares of BTU Metals Corp. (TSXV:BTU) slipped 13% to $0.205 as the junior explorer said it has re-mobilized its drill crew to the TNT target area on its Dixie Halo property in the Red Lake mining district in northern Ontario, where the Company is actively pursuing the discovery of copper-silver-gold volcanogenic massive sulphide style mineralization.

Banyan Gold Corp. (TSXV:BYN), meanwhile, reported an Initial Mineral Resource Estimate for the Aurex ‎and McQuesten properties located approximately 356 ‎kilometres north of Whitehorse, Yukon, which showed 903,945‎ Inferred ounces of gold at an average grade of about 0.54 grams per tonne. Banyan Gold stock moved up 44% to $0.115 following the announcement.

Finally, MediPharm Labs Corp. (TSX:LABS) shares rose 4% to $2.02 after the cannabis extraction company announced that its suite of “Ace Valley Vapes” are officially available in several markets across Canada after the Company shipped three new vape products under this white label brand-line to multiple provinces last week. ‎

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

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