Cannabis Stock Powers Higher on Update Down Under

Published:

LGC Capital Ltd. (TSXV:LG), a cannabis stock, climbed after providing an update on its Australian medical cannabis company Little Green Pharma

Sean Mason | August 23, 2018 | SmallCapPower

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.

Win Big With Our Small Cap Picks

 

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.

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:

Related articles

Recent articles