A Good Week for Pot Investors

finance | BCBusiness

It was a good week on stock markets for the growing contingent of B.C. pot entrepreneurs

Among the twenty-plus B.C. companies that have recently jumped on the medical-marijuana bandwagon, Prominex Resources led the pack with a 20 per cent gain, although that represents a rise of just half a cent for the thinly traded stock, from two and a half cents to three cents. Prominex announced on April 1 that it was planning to “evaluate new projects in medical marijuana.”

Big Bar Resources’ stock rose 19 per cent on the week, although its only trading was on Friday, when it jumped from $0.21 to $0.25. Big Bar announced on April 16 that it was looking for opportunities in medical marijuana.

The more substantial trading was in Cannabis Technologies Inc., which voluntarily moved its listing from the TSX Venture Exchange to the Canadian Securities Exchange this week. Its stock rose from $0.34 at the start of the four-day week to $0.395 at the close on Friday, with more than a million shares changing hands over the week.

Cannabis Technologies, formerly Meridex Software Corp., announced a change of name and business on March 31 this year. The following day its share price jumped from $0.08 to $0.29. The company announced on May 16 that it would buy Biogen Sciences Inc., a drug research outfit that says it plans to “identify new bioactive compounds within the marijuana plant that interact with certain genes responsible for specific diseases.”

Here’s a sampling of B.C. companies pursuing opportunities in medical marijuana:

• Anexco Resources Ltd. (CN:AXO)
• Bayhorse Silver Inc. (TSX-V:BHS)
• Big Bar Resources Corp. (TSX.V:BBR.H)
• Canada Coal Inc. (TSX-V:CCK)
• Cavan Ventures Inc. (TSX-V:CVN)
• Geonovus Minerals Corp. (TSX-V:GNM)
• Inform Exploration (TSX-V:IX)
• Nebo Capital Corp. (TSX-V:NBO.H)
• Next Gen Metals Inc. (CN:N)
• Papuan Precious Metals Corp. (TSX-V:PAU)
• Prominex Resource Corp. (TSX-V:PXR)
• Southbridge Resources Corp. (CN:SOU)
• Southern Sun Minerals Inc. (TSX-V:SSI)
• Spearmint Resources Inc. (TSX-V:SRJ)
• Supreme Pharmaceuticals Inc. (formerly Supreme Resources) (CN:SL)
• Terra Firma Resources Inc. (TSX-V:TFR)
• Thelon Capital Ltd. (TSX-V:THC)
• Victory Ventures Inc. (TSX-V:VVN)
• West Point Resources Inc. (TSX-V:WPO)
• Weststar Resources Corp. (TSX-V:WER)
• Windfire Capital Corp. (TSX-V:WIF)