Three Canada Stocks Whose Volume Surged On Bullish Signals: $ZENA $BMK $PGM – Wire Real Estate

Three Canada Stocks Whose Volume Surged On Bullish Signals: $ZENA $BMK $PGM




Sep 2, 2020

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Zenabis Global is bullish with increased revenue for Q1 2020

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Zenabis Global Inc. (TSX:ZENA) gained 5.26% on a volume of 2.92 million shares

Zenabis Global Inc has announced $27.4 million in consolidated net revenue for the Q2 2020 compared to $19.9 million that was reported in Q1 2020. The company reported $11.8 million net revenue from the cannabis segment representing a 6.4% drop from the $12.6 million that was reported in Q1 2020. During the quarter, Zenabis Global's revenue from the propagation segment rose by 112.8% to $15.6 million from the $7.3 million reported in Q1 2020.

During the quarter, the company entered into a purchase agreement with Canveda Inc, a wholly-owned MPX International for the supply of cannabis flowers. Through the agreement, Zenabis will supply at least 300kg of cannabis flower every quarter. The company will be entitled to supply up to 1,000 kg of cannabis flowers every quarter.

MacDonald Mines Exploration is positive with increased trading volume

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MacDonald Mines Exploration Ltd. (TSX:BMK) gained 9.09% on a volume of 2.92 million shares

MacDonald Mines Exploration Ltd has closed a recently announced offering of 9,332,223 shares. The company generated $4,245,850 in proceeds from the shares that were priced at $0.135 each. The company had also issued another 29,860,000 shares priced at $0.10 each.

The company has announced the launch of the summer 2020 exploration program at its SPJ property. MacDonald Mines has resumed drilling at the property located 20km east of Sudbury Ontario. The company has already drilled 2,000 metres of the anticipated 14,000 metres.

Pure Gold Mining is bullish with strong financial position

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Pure Gold Mining Inc. (TSX:PGM) gained 1.45% on a volume of 2.07 million shares

Pure Gold Mining Inc has announced that Anglogold Ashanti has purchased 5,036,250 shares at $0.85 each amounting to a total investment of $5.0 million. In a statement, Pure Gold Mining President and CEO Darin Labrenz said Anglogold Ashanti has once again demonstrated its support for the company.

With the latest investment, Anglogold Ashanti has increased its shareholding in Anglogold Ashanti to 16% making it's the majority shareholder.

Currently Pure Gold Mining has around $74 million in cash in addition to $35 million available to the company in unclaimed credit facility. The company has completed 95% of all its equipment procurement which accounts for 64% of capital expenditure. The company enjoys a strong financial position with $72 million still available for capital expenditure and around $120 million available in funding.

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