Multimedia Stock Zooms Higher on Cannabis Deal

ZoomerMedia Limited (TSXV:ZUM), a multimedia stock, got a big lift after confirming that it is in its second stage of its deal with Canopy Growth Corporation (TSX:WEED)

Sean Mason | July 5, 2019 | SmallCapPower

A potentially lucrative distribution deal with Canopy Growth Corp boosted the fortunes of a multimedia stock Friday. Here’s some small stocks making big moves on Friday, July 5, 2019 (as of 4 pm EST):

ZoomerMedia Limited (TSXV:ZUM), a multimedia stock, climbed 44% to $0.065 on Friday after confirming that it is in its second stage of its recent deal with Canopy Growth Corporation (TSX:WEED), which will see two new lines of medical and recreational cannabis products developed and sold under the CARP and Zoomer brands directly.

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As well, shares of Core Gold Inc. (TSXV:CGLD) slipped 5% to $0.21 as the junior explorer said the British Columbia Supreme Court declined to approve Core Gold’s proposed transaction with Titan Minerals Limited, concluding that the Company had failed to satisfy its burden of proof in establishing that the transaction was fair and reasonable.

Aurex Energy Corp. (TSXV:AURX), meanwhile, reported that it has finalized planning for the initial phase of work on its 10-well program in the Barnett Shale, Texas. The Company added that it intends to re-work and re-fracture the shut-in wells with the goal of generating significant cash flows to expand and develop an asset base of both producing oil and gas and mineral properties. Aurex Energy stock moved up 20% to $0.24 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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