Canadian Marijuana Stock Surges on Retail Expansion

Westleaf Inc. (TSXV:WL), a Canadian marijuana stock, moved sharply higher after announcing additional Saskatchewan cannabis retail stores

Sean Mason | January 29, 2019 | SmallCapPower

Cannabis retail momentum out West lifted a Canadian marijuana stock Tuesday. Here’s some small stocks making big moves on Tuesday, January 29, 2019 (as of 4 pm EST):

Westleaf Inc. (TSXV:WL), a Canadian marijuana stock, jumped 11% to $3.80 on Tuesday after announcing that it has secured two additional cannabis retail stores in Saskatchewan.

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As well, shares of Good Life Networks Inc. (TSXV:GOOD) gained 18% to $0.33 as the programmatic advertising technology company said the trailing twelve months (TTM) consolidated proforma revenue for its recently-acquired 495 Communications and ImpressionX businesses was $40.2M, with EBITDA of $7.9M and a Net Income of just over $3M based on management prepared financial statements (October 1st, 2017 to September 30th, 2018).

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Sirios Resources Inc. (TSXV:SOI), meanwhile, reported that it has begun the 2019 winter drilling campaign at its 100% owned Cheechoo gold property, adjacent to Goldcorp’s Eleonore gold mine, in Quebec. Sirios Resources stock moved up 19% to $0.22 following the announcement.

Finally, Pure Global Cannabis Inc. (TSXV:PURE) shares rose 15% to $0.275 after the life sciences and consumer products cannabis company announced that it has agreed to acquire all of the outstanding shares of SPRQ Health Group Corp., operating as SPARK, a Brampton-based cannabis clinic helping  patients to obtain safe access to medical cannabis with in-clinic, telephone, and telehealth based consultations. The Company also said it has partnered with HelloMD, which it expects will accelerate patient acquisitions.

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

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