Cannabis Extraction Stock Climbs on Services Agreement

Neptune Wellness Solutions Inc. (TSX:NEPT), a cannabis extraction stock, jumped after agreeing to provide extraction services to Tilray Inc

Sean Mason | June 7, 2019 | SmallCapPower

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.

For Our Complete Coverage Of Canadian Marijuana Stocks Click Here       

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.

Win Big With Our Small Cap Picks

 

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.

See more Small and Micro Cap Market Movers Daily from Sean Mason. Tomorrow’s big stock market winners could be found here today!

Hi, did you know SmallCapPower accepts blog submissions? You can contact me here

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: