4:05pm: Power Metals, Fireweed Metals adds to gains late day
Shares of Fireweed Metals Corp (TSXV:FWZ) rose 14% to close at $0.90 as mineral exploration company said its previously-announced financing has been substantially oversubscribed due to strong investor interest, and has been increased to raise gross proceeds of up to $35 million.
Fireweed added that members of the Lundin family subscribed to the financing, makes them collectively the company’s largest shareholder.
Fission 3.0, meanwhile, closed up 23% to $0.295, while Power Metals gained 17% to $0.27, The Very Good Food Company finished 12% lower to $0.15, and Cannara Biotech ended up 20% at $0.12.
11:45am: Fission 3.0, Power Metals shares power higher
Fission 3.0 Corp (TSXV:FUU) shares jumped 25% to $0.30, on volume of more than 7.7 million shares, Wednesday after the uranium project generator and exploration company announced that the first follow-up drill hole of the new high-grade discovery in hole PLN22-035 at its 100%-owned Patterson Lake North (PLN) project in Saskatchewan’s Athabasca Basin region on the A1 conductor has intersected 3.5 metres (m) of total composite mineralization with greater than 10,000 counts per second (cps) including 2.5m of total off-scale radioactivity (>65,535 cps), occurring as pitchblende patches.
Fission noted the follow-up hole, PLN22-038, is still in progress and two additional follow-up holes of a seven-hole program are planned in the immediate vicinity of this new mineralization before the Christmas break.
As well, shares of Power Metals Corp (TSXV:PWM) gained 13% to $0.26 as the diversified Canadian mining company said drill holes have intersected lithium (Li), cesium (Cs) and tantalum (Ta) mineralization with 20.25% Cs2O, 1.29% Li2O and 147 parts per million (ppm) Ta over 1.0m in drill hole PWM-22-150 in the West Joe Dyke at its Case Lake property near Cochrane, Ontario.
The Very Good Food Company Inc (TSXV:VERY), meanwhile, reported the launch of VERY GOOD's products at over 900 Albertsons Companies, Inc grocery stores across the US. VERY stock moved up 15% to $0.195 following the announcement.
And, Cannara Biotech Inc (TSXV:LOVE) shares climbed 30% to $0.13 on Wednesday after the vertically integrated producer of premium-grade cannabis and derivative products announced it filed a notice with the TSX Venture Exchange to conduct a normal course issuer bid to repurchase up to 15 million of its common shares representing about 1.7% of the company’s total outstanding stock.
Contact Sean at sean@proactiveinvestors.com