4:05pm: Tenaz Energy, Nano One Materials shares add to gains late day
Nova Cannabis closed up 21% at $1, while GreenFirst Forest Products rose 5% to $1.52, Tenaz Energy finished 6% higher to $2.12, and Nano One Materials ended up 8% at $2.60.
11:30am: Nova Cannabis shares make big gains
Nova Cannabis Inc (TSX:NOVC) shares climbed 24% to $1.03 on Wednesday after the Canadian cannabis retailer announced a strategic partnership with SNDL Inc (NASDAQ:SNDL), which would create a well-capitalized cannabis retail platform in Canada under a vertical integration model with SNDL's upstream capabilities.
As well, shares of GreenFirst Forest Products Inc (TSX:GFP) gained 8% to $1.56 as the sustainable forest management and lumber production company said it has agreed to sell its La Sarre and Béarn sawmills and its Abitibi and Témiscamingue forestry operations, as well as their related assets and business operations, to Chantiers Chibougamau for about $90 million in cash.
Tenaz Energy Corp (TSX:TNZ), meanwhile, reported that it has closed the acquisition of 100% of the issued and outstanding shares of a private company with Netherlands upstream and midstream assets.
The oil & gas company noted the acquisition provides Tenaz with 5 million cubic feet per day (mmcf/d) of natural gas production from nine offshore licenses in the Dutch North Sea. Tenaz Energy stock moved up 5% to $2.10 following the announcement.
And, Nano One Materials Corp (TSX:NANO, OTC:NNOMF) shares rose 5% to $2.52 on Wednesday after the clean technology company announced the signing of a non-exclusive joint development agreement (JDA) on production process technologies for cathode active materials (CAM) for lithium-ion batteries with Belgian firm Umicore NV.
Under the agreement, Umicore will evaluate Nano One's patented M2CAM One-Pot process technology with the intention to integrate it with Umicore's proprietary process technology for the production of high nickel NMC (nickel, manganese, cobalt) CAM.
Contact Sean at sean@proactiveinvestors.com