Canadian Cannabis Stock Climbs on Study Update

Aleafia Health Inc. (TSXV:ALEF), a Canadian cannabis stock, surged after announcing study results showing the reduction of benzodiazepine use among patients taking medical cannabis

Sean Mason | January 25, 2019 | SmallCapPower

Encouraging initial study results boosted a Canadian cannabis stock Friday. Here’s some small stocks making big moves on Friday, January 25, 2019 (as of 4 pm EST):

Aleafia Health Inc. (TSXV:ALEF), a Canadian cannabis stock, jumped 21% to $2.12 on Friday after announcing what it believes to be the first study reporting reduced benzodiazepine use among patients initiated and monitored on medical cannabis. The cohort featured 146 patients who received physician-led treatment in Aleafia Health’s wholly-owned Canabo Medical Clinics. Aleafia believes it maintains the world’s largest medical cannabis patient dataset and is deploying the data for unique insights in medical cannabis treatment and product development best practices.

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As well, shares of Goldstrike Resources Ltd. (TSXV:GSR) slid 14% to $0.06 as the gold explorer said Newmont Mining has decide to discontinue its option to earn an interest in Goldstrike’s 100% owned Plateau Property in the Yukon.

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Khiron Life Sciences Corp. (TSXV:KHRN), meanwhile, reported that it has agreed to acquire NettaGrowth International Inc., an arm’s length party, which will own, at the time of completion of the transaction, all the outstanding shares of Dormul S.A. Dormul has obtained the first license to produce medical cannabis with THC for commercialization in Uruguay. As consideration for the acquisition of NettaGro, Khiron will issue 8,498,821 common shares to the shareholders of NettaGro, at a deemed price of $1.61 per common share. Khiron Life Sciences stock moved up 14% to $1.80 following the announcement.

Aleafia Health Inc. (TSXV:ALEF) is a featured sponsored company and has paid SmallCapPower.com a fee for coverage. To learn more, see our full disclosure HERE >>

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

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