Energy Services Stock Pumps Up on Operations Update

Raise Production Inc. (TSXV:RPC), an energy services stock, gained ground after providing an operations update

Sean Mason | July 11, 2019 | SmallCapPower

Increased activity and productivity powered an energy services stock higher Thursday. Here’s some small stocks making big moves on Thursday, July 11, 2019 (as of 4 pm EST):

Raise Production Inc. (TSXV:RPC), an energy services stock, climbed 23% to $0.08 on Thursday after providing an operations update, which includes recent installs in Alberta as well as HARP results that showed increased productivity, with one south Texas operator showing more than 300% production improvement in oil and higher gas rate, while eliminating issues associated with high gas to liquid wellbores.

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As well, shares of Village Farms International, Inc. (TSX:VFF) slipped 6% to $13.14 as the Canadian cannabis company and greenhouse grower announced that its 50%-owned joint venture, Pure Sunfarms, has, on schedule, achieved full run-rate production of 75,000 kilograms of dried cannabis annually at its 1.1 million square foot Delta 3 greenhouse. The Company also said that since more than 50% of its common shares were directly or indirectly owned of record by shareholders domiciled in the United States on June 28, 2019, Village Farms no longer meets the definition of a “foreign private issuer,” thus will be subject to SEC reporting requirements applicable to a U.S. domestic company beginning on January 1, 2020.

LOOP Insights Inc. (TSXV:MTRX), meanwhile, reported that it has entered into a strategic partnership with Telus for Loop’s recent product launch of Fobi, a new IOT device that is powered by a cellular module, which will feature TELUS LTE connectivity in Canada. LOOP Insights stock moved up 11% to $0.60 following the announcement.

Finally, Aleafia Health Inc. (TSX:ALEF) shares rose 2% to $1.19 after the medical cannabis company announced that its stock has been included in The Cannabis ETF (NYSE:THCX).

Aleafia Health Inc. (TSX:ALEF) is a featured sponsored company and has paid a fee for coverage. To learn more, see our full disclosure HERE >>

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

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