4:05pm: Emerita Resources losses accelerate late day
Cannara Biotech gained as much as 11%, Emerita Resources slid 30% to end at $0.65, Meridian Mining UK S added 5%, and Infinity Stone Ventures finished 9% higher to $0.235.
11:50am: Cannara Biotech, Infinity Stone Ventures shares advance sharply
Cannara Biotech Inc (TSXV:LOVE) shares gained 11% to $0.105 on Friday after the Canadian cannabis company announced that its fourth-quarter 2022 revenue surged 84% year over year to a record C$12 million, along with net income for the period of C$2.6 million.
As well, shares of Emerita Resources Corp (TSXV:EMO) slid 17% to $0.77 as the natural resource company said the Third Section of the Provincial Court of Seville has set March 3, 2025 as the date for the criminal trial on the alleged crimes committed during the process of awarding the Aznalcóllar tender.
Emerita noted the 16 defendants face sentences totaling up to 348 years in prison for the alleged rigging of the Aznalcóllar mining tender, including accusations of influence peddling, fraud, embezzlement and bribery.
Meridian Mining UK S (TSX:MNO) stock, meanwhile, continued to move higher Friday, up 7% to $0.40 after the resource junior Monday reported further assays from drilling at the Cabaçal gold-copper VMS deposit in Brazil, which included 26.5 metres (m) of 4.2 grams per tonne (g/t) gold from 14.0m depth.
And, Infinity Stone Ventures Corp (CSE:GEMS) shares rose 12% to $0.24 after the company announced that it is about to begin its winter drill program on the Buda lithium project near Thunder Bay, Ontario, to test pegmatite layers perpendicular to outcrop zones.
Contact Sean at sean@proactiveinvestors.com