Village Farms International, Inc. (CVE:VFF), a greenhouse grower, jumped after announcing a joint venture with Emerald Health Therapeutics Inc. (CVE:EMH)
Sean Mason | June 7, 2017 | SmallCapPower
A cannabis production joint venture sparked a bit of interest in shares of a greenhouse grower Wednesday. Here’s some small stocks making big moves on Wednesday, June 7, 2017 (as of 4 pm EST):
Village Farms International, Inc. (TSX: VFF) shares powered up 18% to $2.25 on Wednesday after the greenhouse grower announced that it has entered into a definitive agreement with Emerald Health Therapeutics Inc. (TSXV: EMH) to form a joint venture for large-scale, high-quality, low-cost cannabis production, with an initial contribution from Village Farms of a 1.1 million-square foot greenhouse facility in Delta, British Columbia.
As well, shares of MedReleaf Corp. (TSX: LEAF) slid 22% to $7.40 on its first day of trading Wednesday after its IPO was price at $9.50. MedReleaf produces and sells dried cannabis and cannabis oil products, including cannabis oil capsules, to patients registered under the Access to Cannabis for Medical Purposes Regulations.
Related: MedReleaf Corp. Set to Become Canada’s Number 2 Marijuana Stock as Sector Interest Wanes
DragonWave Inc. (TSX: DRWI), meanwhile, reported that it has been awarded a product supply and installation services contract from SmartSky Networks, a North American 4G LTE inflight service provider. DragonWave stock popped 72% to $1.50 following the announcement.
In addition, shares of Oceanus Resources Corporation (TSXV: OCN) climbed 15% to $0.265 as the gold explorer said it has intersected 3.15 meters of 36.6 g/t gold equivalent from a depth of 88.25 meters to 91.40 meters at its 100% owned El Tigre Property in Mexico.
Finally, Goodfood Market Corp. (TSX: FOOD) shares jumped 18% to $2.35 after the meal-kit provider announced active subscribers for the third quarter ending May 31, 2017 of 23,000, an increase of 77% over the February 28, 2017 quarter end and an increase of 889% over the May 31, 2016 quarter end.
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Disclosure: Neither the author nor any of the principals at Small Cap Power, or their family members, own shares in any of the companies mentioned above.
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