A big Tilray services deal lifted a cannabis extraction stock Friday. Here’s some small stocks making big moves on Friday, June 7, 2019 (as of 4 pm EST):
Neptune Wellness Solutions Inc. (TSX:NEPT), a cannabis extraction stock, surged 27% to $6.77 on Friday after announcing a definitive agreement to provide extraction and purification services to Tilray Inc. Under the terms of the agreement, the minimum volume of biomass to be processed over the three-year term is 125,000kg, of which the first year is expected to represent 20% of total volumes.
As well, shares of Troubadour Resources Inc. (TSXV:TR) slid 11% to $0.085 as the junior explorer said it will no longer be proceeding with the acquisition of Privateer Gold Mines as announced on March 5, 2019.
Western Resources Corp. (TSX:WRX), meanwhile, reported that its wholly-owned subsidiary, Western Potash Corp., has entered into a lump-sum agreement with Stuart Olson Prairie Construction to be the General Contractor for the construction of the Company’s Milestone Phase I Potash Project in Saskatchewan. Western Resources stock moved up 13% to $0.13 following the announcement.
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
To read our full disclosure, please click on the button below:
The Content contained on this page (including any facts, views, opinions, recommendations, description of, or references to, products or securities) made available by SmallCapPower/Ubika Research is for information purposes only and is not tailored to the needs or circumstances of any particular person. Any mention of a particular security is merely a general discussion of the merits and risks associated there with and is not to be used or construed as an offer to sell, a solicitation of an offer to buy, or an endorsement, recommendation, or sponsorship of any entity or security by SmallCapPower/Ubika Research. The Reader should apply his/her own judgment in making any use of any Content, including, without limitation, the use of any information contained therein as the basis for any conclusions. The Reader bears responsibility for his/her own investment research and decisions. Before making any investment decision, it is strongly recommended that you seek outside advice from a qualified investment advisor. SmallCapPower/Ubika Research does not provide or guarantee any financial, legal, tax, or accounting advice or advice regarding the suitability, profitability, or potential value of any particular investment, security, or information source. Ubika and/or its affiliates and/or their respective officers, directors or employees may from time to time acquire, hold or sell securities and/or commodities and/or commodity futures contracts in certain underlying companies mentioned in this site and which may also be clients of Ubika’s affiliates. In such instances, Ubika and/or its affiliates and/or their respective officers, directors or employees will use all reasonable efforts to avoid engaging in activities that would lead to conflicts of interest and Ubika and/or its affiliates will use all reasonable efforts to comply with conflicts of interest disclosures and regulations to minimize the conflict.