4:05pm: New Stratus Energy pares losses; Planet 13 Holdings adds to gains
Goodfood Market closed up 27% to $0.63, while New Stratus Energy sank 71% to $0.185, Pulse Oil finished 15% higher to $0.075, and Planet 13 Holdings ended up 10% at $2.02.
11:30am: Goodfood Market advances sharply, New Stratus Energy plunges
Goodfood Market Corp (TSX:FOOD) shares continued to move higher Monday, up 27% to $0.63 following a 39% gain on Friday, after the Canadian online meal solutions company reaffirmed expectations to achieve positive Adjusted EBITDA and cash flows in the first half of fiscal 2023, with net sales in the first quarter of fiscal 2023 anticipated to be in the $46-48 million range.
As well, shares of New Stratus Energy Inc (TSXV:NSE) plunged 76% to $0.155 as the oil and gas junior said the Government of Ecuador has told the company that it does not intend to fulfill its legal and contractual obligation to appoint the required Negotiations Committee for the extension and migration of the contracts for Blocks 16 & 67 and, thus, the contracts will expire on December 31, 2022.
Pulse Oil Corp (TSXV:PUL), meanwhile, reported that it has received final approval from the Alberta Energy Regulator (AER) to move forward with the company’s Bigoray Enhanced Oil Recovery (EOR) project located in the province.
Pulse Oil said it estimates that solvent injection will start on or about December 7, 2022. Its stock moved up 31% to $0.085 on volume of more than 3.4 million shares following the announcement.
And, Planet 13 Holdings Inc (CSE:PLTH) shares rose 9% to $2 on Monday after the vertically-integrated, multi-state cannabis company announced that its MM Development Company, Inc subsidiary has received approval for a Nevada consumption lounge from the Nevada Cannabis Compliance Board.
Planet 13 noted its Entertainment Complex will be the first of its kind space where consumers can watch products being made, purchased, and consumed all under one roof.
Contact Sean at sean@proactiveinvestors.com