Tech Stock Surges on Contract Announcement

Intermap Technologies Corporation (TSX:IMP), a tech stock, climbed after announcing the receipt of a task order for $3.2 million

Sean Mason | July 12, 2019 | SmallCapPower

A Canada-listed tech stock jumped Friday following the receipt of a multi-million dollar task order. Here’s some small stocks making big moves on Friday, July 12, 2019 (as of 4 pm EST):

Intermap Technologies Corporation (TSX:IMP), a tech stock listed in Canada, powered 55% higher to $0.34 on Friday after announcing that it has received a task order for $3.2 million to provide high-resolution terrain elevation models, related imagery, multi-sensor/multi-frequency source data and feature layer extraction for a government customer.

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As well, shares of CannTrust Holdings Inc. (TSX:TRST) slid 17% to $3.34 as the Canadian cannabis company said it has implemented a voluntary hold on sale and shipment of all cannabis products as a precaution while Health Canada visits and reviews its Vaughan, Ontario manufacturing facility.

48North Cannabis Corp. (TSXV:NRTH), meanwhile, reported that it is has completed the planting of its first outdoor cannabis crop at its Good:Farm outdoor organic cannabis cultivation facility in Brant County, Ont. The Company added that it has successfully planted more than 250,000 cannabis seeds at Good:Farm. 48North Cannabis stock eased 5% to $0.81 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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