An Australian medical cannabis update gave a big lift to a Canada-listed cannabis stock Thursday. Here’s some small stocks making big moves on Thursday, August 23, 2018 (as of 4 pm EST):
LGC Capital Ltd. (TSXV:LG), a cannabis stock, jumped 26% to $0.17 on Thursday after announcing that its Australian medical cannabis company Little Green Pharma has become the first Australian company to locally-grow and produce medicinal cannabis products for sale to Australian patients.
As well, shares of Baytex Energy Corp. (TSX:BTE) rose 8% to $4.24 as the oil and gas company said it is revising its FY 2018 production guidance upward to 79K-81K boe/day from its previous outlook of 68K-72K boe/day.
Alliance Mining Corp. (TSXV:ALM), meanwhile, reported that it has signed a Letter of Intent with Jadestone Energy LLC to acquire a 100% interest in Jadestone’s Tonopah Uranium project in Nevada by making certain staged cash payments and share payments of common shares in Alliance to Jadestone over a four-year period. Alliance Mining stock moved up 100% to $0.04 following the announcement before being halted.
Finally, Emerald Health Therapeutics, Inc. (TSXV:EMH) shares gained 8% to $4.65 after the cannabis company announced that its 50/50 joint venture, Pure Sunfarms, has received its third amendment to the cultivation license from Health Canada for its Delta 3 greenhouse in British Columbia, permitting expansion of its cannabis production area by 195,000 square feet to approximately 420,000 square feet. The newly-licensed area will be in commercial production this week.
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.