Canadian Cannabis Stock Moves Higher on Update

LGC Capital Ltd. (TSXV:LG), a Canadian cannabis stock, shot up after providing an update on its Little Green Pharma investment

Sean Mason | October 5, 2018 | SmallCapPower

Positive developments from an Australian investment lifted a Canadian cannabis stock Friday. Here’s some small stocks making big moves on Friday, October 5, 2018 (as of 4 pm EST):

LGC Capital Ltd. (TSXV:LG), a Canadian cannabis stock, climbed 11% to $0.20 on Friday after announcing that Australian medical cannabis company Little Green Pharma, in which LGC has a 14.21% interest, has successfully completed harvest of its second commercial medical cannabis crop from its facility in Western Australia. Little Green Pharma products have also been accepted into major statewide clinical trials for advanced cancer, and the company has begun negotiations for exports to Germany.

For Our Complete Coverage Of Canadian Marijuana Stocks Click Here     

As well, shares of Centamin plc (TSX:CEE) fell 12% to $1.62 as the gold miner said preliminary production results for the third quarter from its Sukari Gold Mine in Egypt totaled 117,720 ounces, a 27% improvement on the second quarter. The Company added, though, that operational improvements have taken longer than planned to materialize.

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Aritzia Inc. (TSX:ATZ), meanwhile, reported 11.5% comparable sales growth for its  second quarter of fiscal 2019, along with a 76.3% increase in adjusted net income for the period. Aritzia stock moved up 14% to $18.39 following the announcement.

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

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