Security Tech Stock Jumps on Government Contract

Published:

Patriot One Technologies Inc. (TSX:PAT), a Canadian security tech stock, powered higher after securing a contract with Canada’s Department of National Defence

Sean Mason | May 26, 2020 | SmallCapPower

A government contract to help firefighters propelled a Canadian security tech stock Tuesday. Here’s some small stocks making big moves on Tuesday, May 26, 2020 (as of 4 pm EST):

Patriot One Technologies Inc. (TSX:PAT), a Canadian security tech stock, climbed 10% to $0.91 on Tuesday after its wholly-owned subsidiary, Xtract Technologies, announced that it has secured a $157,000 contract with Canada’s Department of National Defence to provide innovative devices, applications, personal protective equipment and technology to help firefighters.

Win Big With Our Small Cap Picks

 

As well, shares of 48North Cannabis Corp. (TSXV:NRTH) fell 22% to $0.255 as the Canadian cannabis company said its third-quarter 2020 revenue rose 55% quarter over quarter to $2.8 million, while taking a $4.1 million impairment charge related to the acquisitions of Rare Industries, Inc. and Sackville & Co. Merchandising Ltd.

Naturally Splendid Enterprises Ltd. (TSXV:NSP), meanwhile, reported that a Clinical Trial Application has been submitted to Health Canada for a COVID-19 Phase 2 clinical trial, using Cavaltinib as the subject test drug. Naturally Splendid Enterprises stock moved up 9% to $0.06 following the announcement.

Finally, Meta Growth Corp. (TSXV:META) shares gained 17% to $0.14 after the Canadian recreational cannabis retailer announced a binding letter of intent to purchase the Meta Cannabis Co. branded recreational cannabis store in Kitchener, Ontario, in consideration for approximately $1.5 million that is comprised of $250,000 in cash and the assumption of about $1.25 million in related party debt.

See more Small and Micro Cap Market Movers Daily from Sean Mason. Tomorrow’s big stock market winners could be found here today!

Hi, did you know SmallCapPower accepts blog submissions? You can contact me here

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

To read our full disclosure, please click on the button below:

Related articles

Recent articles