Marijuana Stock Moves Higher on Canopy Growth (TSX: WEED) Agreement

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Invictus MD Strategies Corp. (CVE:IMH), a marijuana stock, powered up after announcing that its investee company will provide products to Canopy Growth Corporation (TSE:WEED)

Sean Mason | April 19, 2017 | SmallCapPower

A deal with Canopy Growth Corporation (TSE:WEED) created a bit of an investor buzz for one marijuana stock Wednesday. Here’s some small stocks making big moves on Wednesday, April 19, 2017 (as of 4 pm EST):

Marijuana stock Invictus MD Strategies Corp. (TSXV: IMH) climbed 19% to $2.10 on Wednesday after announcing that its investee company, AB Laboratories Inc., a Licensed Producer under the Access to Cannabis for Medical Purposes Regulations, will provide their products in Canopy Growth Corporation‘s (TSX: WEED) curated CraftGrow line on Tweed Main Street’s online store.

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As well, shares of Potash Ridge Corporation (TSX: PRK) gained 2% to $0.225 as the potassium sulphate project developer announced an update to the independent NI 43-101 Prefeasibility Technical Report for its Blawn Mountain Project in Utah, which now shows 19.4 million tons of Measured and Indicated alumina Resources contained in the alunite ore.

Darnley Bay Resources Limited (TSXV: DBL), meanwhile, reported results of an independent Preliminary Economic Assessment (PEA) of its 100% owned Pine Point Project in the Northwest Territories. Highlights included an After-Tax Net Present Value of $210.5 million and Internal Rate of Return of 34.5%, with a payback of 1.8 years, as well as a 13-year mine life with total life-of-mine production of 1.35 billion pounds of zinc and 536 million pounds of lead. Darnley Bay Resources stock moved up 2% to $0.27 following the announcement.

Finally, Noka Resources Inc. (TSXV: NX) shares rose 5% to $0.105 after the junior explorer announced that has closed its private placement of 7,228,571 shares at C$0.07 per share and its Board of Directors has approved the change of the Company’s name to Pacton Gold Inc.

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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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