Harvest One Cannabis Inc. (CVE:HVST), a Canadian cannabis stock, puffed higher after announcing two separate interim financing agreements with PanCann Streaming Corp.
Sean Mason | May 1, 2017 | SmallCapPower
Financing for a marijuana production facility created a bit of a buzz over a Canadian cannabis stock Monday. Here’s some small stocks making big moves on Monday, May 1, 2017 (as of 4 pm EST):
Canadian cannabis stock Harvest One Cannabis Inc. (TSXV: HVST) climbed 17% to $0.84 after announcing that it has entered into two separate interim agreements with PanCann Streaming Corp. to finance the construction of both the Lucky Lake facility and a new additional facility to be identified, in consideration for an equity participation in the applicable entity and a production yield allocation from both facilities.
As well, shares of Inter-Rock Minerals Inc. (TSXV: IRO) shot up 55% to $0.17 as the dolomite producer said its $5.95 million acquisition of Papillon Agricultural Company is expected to more than triple Inter-Rock’s consolidated revenues, which are currently forecast to approach $35 million annually.
Equitable Group Inc. (TSX: EQB), meanwhile, reported that its first-quarter net income increased 55% to $43.4 million, while its Return on Equity rose to 18.4% from 14.7% in 2016. Equitable Group stock popped 30% to $47.35 following the announcement.
Finally, First Cobalt Corp. (TSXV: FCC) shares rose as much as 7% before ending down 4% to $0.65 after the cobalt junior announced that it has signed an exclusive letter of intent with an associate of Madini Minerals to form a strategic alliance and become a 70% joint venture partner on each of seven prospective copper-cobalt exploration properties covering 190 square kilometres in the Democratic Republic of the Congo.
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Disclosure: Neither the author nor any of the principals at Small Cap Power, or their family members, own shares in any of the companies mentioned above.
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