SEARCH
Subscribe
Track all markets on TradingView

Canadian Cannabis Stock Surges on Strategic Investment

Published:

Reading time: 3 min.

Fire & Flower Holdings Corp. (TSXV:FAF), a Canadian cannabis stock, sprouted higher after announcing a nearly $26 million investment from Alimentation Couche-Tard

Sean Mason | July 24, 2019 | SmallCapPower

A big investment from Alimentation Couche-Tard lifted a Canadian cannabis stock Wednesday. Here’s some small stocks making big moves on Wednesday, July 24, 2019 (as of 11:30 am EST):

Fire & Flower Holdings Corp. (TSXV:FAF), a Canadian cannabis stock, climbed 18% to $1.35 on Wednesday after announcing a nearly $26 million investment from Alimentation Couche-Tard Inc., which would give the Canadian convenience store giant a 9.9% ownership stake in the Company. Fire & Flower added that it has received conditional approval to up-list its common shares for trading on the Toronto Stock Exchange.

For Our Complete Coverage Of Canadian Marijuana Stocks Click Here     

As well, shares of CannTrust Holdings Inc. (TSX:TRST) sank 20% to $2.76 as the Globe & Mail reported that Company Chairman Eric Paul and CEO Peter Aceto were made aware of the illegal grows six months before they were discovered by the regulator.

Win Big With Our Small Cap Picks

 

American Manganese Inc. (TSXV:AMY), meanwhile, reported that improved RecycLiCo Pilot Plant results were achieved with a 99.93% purity (previously 99.88%) from the second production of recycled NMC cathode material. The Company’s goal is to provide an environmentally-friendly solution to the lithium-ion battery recycling industry. American Manganese stock moved up 17% to $0.275.

Finally, Scandium International Mining Corp. (TSX:SCY) shares rose 19% to $0.16 after the scandium project developer announced that its Australian subsidiary, EMC Metals Australia Pty Ltd., has been granted a new mine lease by the New South Wales Department of Planning, Industry and Environment, pertaining to the Nyngan Scandium Project.

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:

The Content contained on this page (including any facts, views, opinions, recommendations, description of, or references to, products or securities) made available by SmallCapPower/Ubika Research is for information purposes only and is not tailored to the needs or circumstances of any particular person. Any mention of a particular security is merely a general discussion of the merits and risks associated there with and is not to be used or construed as an offer to sell, a solicitation of an offer to buy, or an endorsement, recommendation, or sponsorship of any entity or security by SmallCapPower/Ubika Research. The Reader should apply his/her own judgment in making any use of any Content, including, without limitation, the use of any information contained therein as the basis for any conclusions. The Reader bears responsibility for his/her own investment research and decisions. Before making any investment decision, it is strongly recommended that you seek outside advice from a qualified investment advisor. SmallCapPower/Ubika Research does not provide or guarantee any financial, legal, tax, or accounting advice or advice regarding the suitability, profitability, or potential value of any particular investment, security, or information source. Ubika and/or its affiliates and/or their respective officers, directors or employees may from time to time acquire, hold or sell securities and/or commodities and/or commodity futures contracts in certain underlying companies mentioned in this site and which may also be clients of Ubika’s affiliates. In such instances, Ubika and/or its affiliates and/or their respective officers, directors or employees will use all reasonable efforts to avoid engaging in activities that would lead to conflicts of interest and Ubika and/or its affiliates will use all reasonable efforts to comply with conflicts of interest disclosures and regulations to minimize the conflict.
jsteppke
jsteppke

Related articles

Recent articles

© SmallCapPower 2024