LGC Capital Ltd. (CVE:QBA), a marijuana stock, moved sharply higher after announcing a new 50/50 Joint Venture to grow cannabis in southern Africa
Sean Mason | June 26, 2017 | SmallCapPower
Investor interest in the Canadian marijuana space remains high especially towards a new marijuana stock Monday. Here’s some small stocks making big moves on Monday, June 26, 2017 (as of 4 pm EST):
LGC Capital Ltd. (TSXV: QBA), a new marijuana stock, surged 71% to $0.06 on Monday after announcing that it has entered into a strategic alliance with AfriAg (Pty) Ltd to create a new 50/50 Joint Venture to grow and distribute medical and recreational cannabis products in the southern African region for export to regulated and certified end users around the world.
As well, shares of Red Eagle Mining Corporation (TSX: R) sank 32% to $0.30 as the gold miner said challenging ground conditions have led to unacceptable dilution and gold losses using the current mining method at its San Ramon Gold Mine in Colombia and, thus, management has deemed it prudent to halt stope production and move to a new mining method that will require the construction of a paste backfill plant.
Canadian Zeolite Corp. (TSXV: CNZ), meanwhile, reported that a two-year study conducted by the University of Saskatchewan in partnership with PotashCorp, Agrium and Mosaic using the Company’s Bromley Creek zeolite was successful in remediating potash brine-impacted groundwater. Canadian Zeolite stock moved up 10% to $0.66 following the announcement.
Finally, Gaming Nation Inc. (TSXV: FAN) shares jumped 67% to $0.92 after the provider of technology and information platforms to the sports and entertainment industry announced that it has agreed to be acquired by a private investment fund managed by Orange Capital Ventures GP, LLC for C$0.95 per share in cash.
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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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