Canadian Cannabis Stock Climbs On Retail LOI

An influential retailer backer provided a big boost to a small Canadian cannabis stock Tuesday. Here’s some small stocks that made big moves on Tuesday, Sept. 25, 2018 (as of 4 p.m. EST):

Aleafia Health Inc. (V:), a Canadian cannabis stock, jumped 28% to $3.97 on Tuesday after announcing that it has entered into a letter of intent to acquire a 51% stake in One Plant, an adult-use cannabis retail operation led by members of the Serruya family, including Aaron Serruya, the president of International Franchise Inc., which has more than 4,500 franchise locations in more than 50 countries. Aleafia added that the Serruya family has been a leading force in the cannabis industry as early investors of Aphria and the majority shareholder of Liberty Health Sciences.

As well, shares of Aben Resources Ltd. (V:) slid 23% to $0.215 as the gold explorer released additional results from its Forrest Kerr Property located in the Golden Triangle region of British Columbia, which included 5.08 g/t gold over 12.0 metres.

Snipp Interactive Inc. (V:), meanwhile, reported that it has received a three-year, US$542,000 minimum value guaranteed contract from a new client, a leading importer for the retail industry. Snipp Interactive stock moved up 33% to $0.10 following the announcement.

Finally, Arianne Phosphate Inc. (V:) shares gained 21% to $0.51 after the phosphate project developer announced the formal execution of its first off-take agreement involving the purchase of Arianne’s high-purity phosphate concentrate once its Lac à Paul project in Quebec goes into production.

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