Canadian Marijuana Stock Climbs on Expansion Approval

Aleafia Health Inc. (TSXV:ALEF), a Canadian marijuana stock, moved higher after obtaining approval for a 60,000 kg capacity expansion at its Port Perry cultivation facility

Sean Mason | October 9, 2018 | SmallCapPower

Expansion and an expected production capacity increase boosted a Canadian marijuana stock Tuesday. Here’s some small stocks making big moves on Tuesday, October 9, 2018 (as of 4 pm EST):

Aleafia Health Inc. (TSXV:ALEF), a Canadian marijuana stock, jumped 5% to $3.16 on Tuesday after announcing that it has obtained local regulatory approval for a 60,000 kg capacity expansion at its Port Perry cultivation facility, which will increase its annual production capacity to 98,000 kg.

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As well, shares of Juggernaut Exploration Ltd. (TSXV:JUGR) plunged 52% to $0.15 as the gold explorer said drilling on the 100% controlled Midas property in British Columbia has confirmed widespread near surface polymetallic gold mineralization in multiple drill holes targeting newly-discovered zones, which included 0.56 g/t gold equivalent over 35.35 meters.

A.I.S. Resources Limited (TSXV:AIS), meanwhile, reported that it has been issued with a seismic and drilling exploration permit for Guayatayoc Mina, a lithium brine project in Argentina. A.I.S. Resources stock moved up 14% to $0.12 following the announcement.

Finally, HIT Technologies Inc. (TSXV:HIT) shares rose 60% to $0.04 after the manufacturer of iPhone protectives and mobile accessories announced that its HITCASE Shield LINK waterproof protective case for iPhone 7/7 Plus and 8/8 Plus will now be available in 1,000 Best Buy retail locations across the United States.

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

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