Top Penny Stocks for 2019 – July 23, 2019
The Canadian Penny stocks on our list are seen as having the greatest upside for the coming year
*Share prices are as at close July 19, 2019, data obtained from Capital IQ
CANNEX CAPITAL HOLDINGS INC. (CNSX:CNNX) – $1.20
Cannex Group Holdings is a Canada based company with cannabis operations in Washington and California. Cannex is focused on premium indoor cultivation, extraction, manufacturing and branding of edible and derivative products, as well as retail operations. The Company’s subsidiary, BrightLeaf Development LLC, is the largest producer/processor in Washington State. Cannex plans to produce from two indoor cultivating facilities with a combined 30,000 sq. ft. and 19,000 kg/year capacity, equating to one of the highest yields in the industry at 633 grams/sq. ft. On June, the Company announced that it had closed its purchase of Pure Ratios Holdings, Inc., a California-based CBD company. On July 2, 2019 the Company announced that it made significant progress in its plans to expand into California by securing a 190,000 sq. ft facility in the City of Commerce and all the necessary permits and licenses to manufacture and distribute cannabis products.
- Market Cap: $ 228.6 Million
- 7 Day Total Return: 1.7%
- 30 Day Total Return: -15.5%
- 90 Day Total Return: -31.0%
TETHYAN RESOURCES PLC. (TSXV:TETH) – $0.45
Tethyan Resources is a junior exploration company operating in the Balkans. The Company holds 643 sq. km of land, 463 of which are located in the Raška mining district in Serbia. The Kizevak zinc-lead-silver project, located in the vicinity of a past-producing open-pit mine, completed a 1,000m drill program on August 22, 2018. On April 17, 2019, Tethyan Resources announced the closing of an underwritten private placement, of 6,250,000 ordinary shares at a price of $0.80 per share, for aggregate gross proceeds of $5,000,000. On June 13, 2019 the Company announced the results from seven holes totalling 2,450 metres at the Rudnica copper-gold porphyry project in southwest Serbia. The results showed 142 metres at 0.51% copper and 0.31 grams per tonne (“g/t”) gold (hole RDD-012, from surface) and 335 metres at 0.36% copper and 0.31 g/t gold (hole RDD-014, from a depth of 68 metres).
- Market Cap: $ 33.0 Million
- 7 Day Total Return: -3.2%
- 30 Day Total Return: -26.6%
- 90 Day Total Return: -35.0%
RISE GOLD CORP. (CNSX:RISE) – $0.08
Rise Gold is a junior gold explorer focused on its historic Idaho-Maryland mine in California. The mine historically produced 2.4M oz. Au between 1866 and 1955, with production peaking at 120,000 oz. Au/y. The Company holds ~3000 acres of land and several pre-existing facilities. Rise aims to continue its drilling program, which has thus far found results including 23.7 g/t Au over 4.5m and 10.9 g/t Au over 2.9m. On March 1, 2019, the Company announced it has completed the non-brokered private placement from its February 15th release, raising a total of C$1.8M in this tranche. On July 11, 2019 the Company announced it has completed the first tranche of the non-brokered private placement. Rise Gold raised $725,769 though the sale of 10,367,131 units at a price of $0.07 per Unit where each Unit consists of one share of common stock and on-half of one share purchase warrant.
- Market Cap: $13.2 Million
- 7 Day Total Return: 7.1%
- 30 Day Total Return: 25.0%
- 90 Day Total Return: -6.3%
MARBLE FINANCIAL (CNSX:MRBL) – $0.21
Marble Financial helps Canadians rebuild their credit score in less than half the amount of time compared with the current method a Consumer Proposal (a Consumer Proposal is a formal, legally binding process that is administered by a Licensed Insolvency Trustee). The Marble method works as follows; 1) Marble partners with Debt Solution companies to get borrowers the most competitive settlement. 2) Marble then pays out the full consumer proposal upfront, which gives borrowers an immediate boost to their credit score. 3) The lower debt reduces the principal of the debt owing, resulting in lower monthly payments for borrowers. 4) As borrowers repay their settlement, Marble offers incentives to help accelerate debt-settlement repayment. With this method, Marble believes its clients can rebuild their credit and re-enter mainstream banking in three years, as compared to the traditional Consumer Proposal process of eight years or more. On July 17, 2019, Marble announced it has agreed to acquire Score-Up Inc, a market-leading personal finance and credit management proprietary technology platform, and Credit Meds Corp., an Ontario-based credit coaching company that offers debt restructuring alternatives by utilizing its proprietary financial wellness diagnostic process.
- Market Cap: $11.2 Million
- 7 Day Total Return: 13.9%
- 30 Day Total Return: 17.1%
- 90 Day Total Return: 5.1%
GRANADA GOLD MINE INC. (TSXV:GGM) – $ 0.13
Granada Gold is a developer advancing its ~2,500 Ha Granada Gold property located in Quebec which includes two-exploration claims and two mining leases. The historical mine produced 51,500 oz Au, averaging 9.7 g/t Au and 1.5 g/t Ag, between 1930 and 1935, before a fire destroyed the mine’s surface structures. The property was sold to Granada in 2006. In 2007, the Company extracted a bulk sample grading 1.62 g/t of gold, with a 90% recovery rate. GGM is planning to release a Feasibility Study (FS) that aims to develop a producing mine with a capacity of 80,000-100,000 ounces of gold per year. On April 25, 2019, Granada Gold Mine reported on their latest results from a two-stage gravity concentration process, reporting that low grade gold mineralization of 1.01g/t was upgraded in the test to 67.99 g/t.
- Market Cap: $ 9.3 Million
- 7 Day Total Return: 4.2%
- 30 Day Total Return: -10.7%
- 90 Day Total Return: 19.0%
POWER METALS CORP. (TSXV:PWM) – $0.09
Power Metals is a hard rock lithium explorer focused on its flagship Case Lake property, comprising 38 mining claims for 7,136 Ha, located 100 km north of Kirkland Lake, Ontario. An all-seasons access road encircles the property. Although limited to 83 current drilled holes, work-to-date indicates that spodumene pegmatites may occur throughout the property in dykes hosted by domes. On January 10, 2019, the Company announced its plans for a drill program at Paterson Lake in northwestern Ontario where it has two lithium drill targets. On March 21, 2019, the Company announced it started planning for metallurgical testing at Case Lake through an engagement with SGS Canada Inc.
- Market Cap: $ 9.2 Million
- 7 Day Total Return: 5.9%
- 30 Day Total Return: 20.0%
- 90 Day Total Return: -18.2%
GOOD NATURED PRODUCTS INC. (TSXV:GDNP) – $0.16
Plastics and Packaging
Good Natured Products develops eco-friendly and renewable bioplastic (plant-based) packaging and products. The Company’s primary value proposition is to source and develop proprietary plant-based materials, and then make products utilizing the highest possible percentage of renewable content, as opposed to traditional petroleum-based plastics. Currently, the Company targets high growth in the bioplastics space by leveraging the increasing demand for plant-based packaging and products. Offering a suite of over 130 products, GDNP serves more than 100 national, regional and small business retailers, food producers & packaging distributors. On April 30th, 2019, Good Natured announced its year end audited financial results. These results featured revenues for the twelve months increasing 106% from the prior twelve months to $5,103,347. On May 28, 2019, the Company released its Q1 FY19 financial results which showed record revenue as it increased by 84% to $2,056,014 compared to $1,118,487 in Q1 FY19.
- Market Cap: $15.6 Million
- 7 Day Total Return: -9.1%
- 30 Day Total Return: 7.1%
- 90 Day Total Return: 30.4%
FURA GEMS INC. (TSXV:FURA) – $0.16
Fura Gems is a mining developer, the only publicly-listed company in the colour gemstone space. The Company operates two assets in the exploration phase, both located in the country which produces the most of its respective gem. Its Mozambican Ruby project, acquired in November 2017 and recently expanded, has completed 2,500m of drilling and plans a further 3,500m in the next phase. On May 15th, Fura Gems Inc announced their intentions to complete a private placement offering of up to 121,500,000 common shares of the company at a price of $0.25 per share for gross proceeds of up to $30,375,000.
- Market Cap: $21.6 Million
- 7 Day Total Return: 5.9%
- 30 Day Total Return: 12.5%
- 90 Day Total Return: -35.7%
NOVA LEAP HEALTH CORP. (TSXV:NLH) – $0.27
Nova Leap Health is a North American provider of personal home care and support services. The Company is focused on acquiring and organically growing Private Pay Non-Medical and Skilled Home Care Companies. Nova Leap’s post-acquisition organic growth strategy is to increase annual revenue per location through a combination of increased employee investment, including training, focused sales and marketing efforts, billing rate increases and expansion of geographical coverage. Since September 2017, the Company has completed eight acquisitions and now has operations in 9 locations within Vermont, New Hampshire, Rhode Island, Massachusetts, and Nova Scotia employing more than 450 employees. On April 2, 2019, the Company closed its acquisition of a home care services company in Eastern Canada for US$564,000. The Company announced its Q1/19 financial results on May 23, 2019 which showed record Q1 revenues of $3,911,855, which is Nova Leap’s 7th consecutive quarter of revenue growth.
- Market Cap: $20.5 Million
- 7 Day Total Return: 4.0%
- 30 Day Total Return: -3.7%
- 90 Day Total Return: -13.3%
Martello Technologies Group Inc. (TSXV:MTLO) – $0.54
Martello Technologies develops products and solutions that monitor, manage and optimize the implementation of real-time application on networks, while also providing IT teams and service providers with control and visibility of the whole IT infrastructure. Currently, the Company offers SD-WAN technology, network performance management software, and IT analytics software. The Company’s product portfolio has options for subscription-based offerings, hardware product offerings and software license fees. Martello has recently highlighted its growth in the hospitality industry with its products being deployed in thousands of hotels around the world to help provide reliable high-speed Internet access. On June 11, 2019, MTLO announced its growth in the Middle East Hospitality industry with its distribution agreement with Naizak Distribution, a global IT conglomerate. Together the companies are expected to provide Martello’s enterprise network solution to more than 50 hotel properties in the Middle East.
- Market Cap: $103.3 Million
- 7 Day Total Return: -26.9%
- 30 Day Total Return: 143.6%
- 90 Day Total Return: 86.3%
CANADA COBALT WORKS. (TSXV:CCW) – $ 0.28
Canada Cobalt Works is drilling one prospective property for Cobalt the Castle Mine, and is sampling two additional properties the Violet Mine, and Beaver Mine. Each property is located near Northern Ontario’s Cobalt camp near the town of Cobalt, Ontario, Canada’s most prolific cobalt district. The Company has a proprietary hydrometallurgical process known as Re-2OX for the creation of technical grade cobalt sulphate as well as nickel-manganese-cobalt (NMC) formulations. Canada Cobalt is strategically positioned to become a vertically integrated North American leader in cobalt from extraction to recovery. On March 1, 2019, the Company announced that it has added an environmentally friendly program where it plans to develop cost effective near-term recovery of silver and gold mineralization. On May 10th, Canada Cobalt announced that is has added approximately 4,800 hectares to its Castle mine land package, more than doubling the total size from 26,9 sq. km to approximately 78 sq. km. On May 24, 2019 the Company announced that metallurgical test work done by SGS Lakefield has produced a high purity flotation silver contrate grading of 18,486 grams per tonne.
- Market Cap: $ 22.4 Million
- 7 Day Total Return: -1.8%
- 30 Day Total Return: -3.6%
- 90 Day Total Return: -18.2%
LGC CAPITAL LTD. (TSXV:LG) – $0.09
LGC Capital is a Canadian based investment holdings company focused on acquiring production, brands, and distribution in mature and emerging cannabis markets. Through its portfolio of companies, LGC Capital focuses unique international markets, in addition high-margin products, which include edibles, concentrates, oils, vapes, CBD products. LGC Capital’s holdings include; Tricho-Med a 31,000 sq. ft cannabis greenhouse in Quebec, to be operational by early 2019. Global Canna Labs a 220,000 sq. ft outdoor/greenhouse operation in Jamaica with the potential to yield 25,000 kg, Evolution BnK a 70,000 sq. ft greenhouse in Italy with potential production of 7,000 kg, EasyJoint an Italian vertically integrated cannabis producer with a network 450 retail stores, Virindi unit a Swiss vertically integrated producer, and Little Green Pharma, Australia’s largest licensed producer in terms of production capacity. On April 4, the Company announced its first medical cannabis commercial sales in Jamaica from Global Canna Labs. On July 15, 2019 the Company announced that Health Canada gave Trichomed Corporation its license to cultivate cannabis seeds and plants at its new facility in Brownsburg, Quebec.
- Market Cap: $44.5 Million
- 7 Day Total Return: 5.9%
- 30 Day Total Return: 0.0%
- 90 Day Total Return: -14.3%
HEMISPHERE ENERGY CORP. (TSXV:HME) – $0.12
Oil & Gas Exploration and Production
Hemisphere Energy is a Canada-based oil producer operating in eastern Alberta. The Company holds 24,000 net acres in the Atlee Buffalo and Jenner oil pools with an average 100% working interest. The Company has drilled 12 wells in 2018, and on Sept 20, 2018, reported that its average production for the week of Sept 8-14 averaged 1,430 boe/d (98% oil). On April 24th, Hemisphere announced their financial and operating results for the fourth quarter and year ended December 31, 2018. These results featured an annual average production rate of 1,111 boe/d, a 69% increase over 2017, and $17.8 Million generated in annual revenue, a 62% increase from the previous year. On May 28, 2019 the Company announced its Q1/19 financial results which showed a record revenue of $6.4M, a 90% increase from Q1/18.
- Market Cap: $10.3 Million
- 7 Day Total Return: -8.0%
- 30 Day Total Return: -17.9%
- 90 Day Total Return: -34.3%
NANOSPHERE HEALTH SCIENCES INC. (CNSX:NSHS) – $0.20
Healthcare Technology and Cannabis
NanoSphere Health Sciences is a healthcare technology company specializing in the controlled, rapid delivery of therapeutic agents via patented smart nanoparticles. The Company is advancing its NanoSphere Delivery System, which delivers active pharmaceutical ingredients with a significantly decreased onset time and increased bio-absorption. The System was patented March 27 for the delivery of cannabinoids, pharmaceuticals, nutraceuticals, cosmeceuticals and other biological agents. On April 2, the Company announced that its Evolve cannabis products have been approved by the State of California and will be available for purchase starting April 8. On May 2, 2019, NanoSphere announced that is has signed a Memorandum of Understanding with Stat Shield Technology LLC., where Stat will act as NanoSphere’s exclusive agent for hemp-derived CBD and other products.
- Market Cap: $21.1 Million
- 7 Day Total Return: -2.6%
- 30 Day Total Return: -5.1%
- 90 Day Total Return: -39.3%
TOUCHSTONE EXPLORATION INC. (TSX:TXP) – $0.27
Oil & Gas Exploration and Production
Touchstone Exploration Inc is a Canadian-based oil and gas producer with wells in Trinidad and Tobago. It focuses on onshore drilling, currently operating 10 producing blocks and 208 drilling locations. The Company’s properties currently produce ~1,800 bbls/d and host proven and probable reserves of 18.5M bbl. In October, Touchstone provided an operational update, delivering 2015 barrels per day of crude oil for the first nine days of October 2018. On May 14, 2019, Touchstone Exploration Inc announced its financial and operating results for the three months ended March 31, 2019. These results featured average quarterly crude oil production of 2,121 barrels per day, representing a 37% increase from the first quarter of 2018, and petroleum sales of $11,015,000, representing a 34% increase from the prior year first quarter.
- Market Cap: $42.6 Million
- 7 Day Total Return: -1.9%
- 30 Day Total Return: -5.4%
- 90 Day Total Return: -11.7%
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