Canadian Tech Stock Rises on Financial Results

Converge Technology Solutions Corp. (TSXV:CTS), a Canadian tech stock, moved higher after releasing financial results

Sean Mason | April 2, 2020 | SmallCapPower

Financial results provided a lift to a Canadian tech stock Thursday. Here’s some small stocks making big moves on Thursday, April 2, 2020 (as of 4 pm EST):

Converge Technology Solutions Corp. (TSXV:CTS), a Canadian tech stock, climbed 15% to $1.05 on Thursday after announcing that its fourth-quarter 2019 revenue surged 58% to $214.7 million, while Adjusted EBITDA for the quarter increased to $11.8 million from $5.8 million during the same period last year.

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As well, shares of James E. Wagner Cultivation Corporation (TSXV:JWCA) plunged 50% to $0.025 as the Canadian cannabis company said it has obtained an initial order from the Ontario Superior Court of Justice for protection under the Companies’ Creditors Arrangement Act in order to restructure its business and financial affairs.

Relevium Technologies Inc. (TSXV:RLV), meanwhile, reported that it has sourced and will begin commercializing a line of Bioganix hand sanitizers. Relevium Technologies stock moved up 250% to $0.035 following the announcement.

Finally, Treasury Metals Inc. (TSX:TML) shares gained 8% to $0.215 after the gold explorer announced drill results from its Goliath Gold Project in Ontario, which included 6.3 g/t gold over 19.5 metres.

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

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