Looking For Penny Stocks In Canada? 4 Names To Know
It can often become a task to find the best penny stocks to watch if you don’t know where to look. Of course, you can listen to some fake gurus on social media. But the likelihood that the supposed guru has your best interests in mind isn’t that dependable. The best course of action is to take time and actually search for yourself. It isn’t a quick process but at least you have more control over the stocks you’re trading. You’ll also come to understand exactly why you’re buying a certain penny stock in the first place.
This goes for penny stocks across all countries. In North America, the U.S. and Canada have plenty of names to choose from. But no matter which market you’re looking at, it’s important to stocks meet certain criteria. First, is there active trading volume? Next, is the industry that the company operates in a bullish sector or is the market bearish? Does the company have current projects in place?
These are just a few basic questions. When it comes to your personal strategy, maybe you also like to pay attention to technical indicators. Something else to be aware of is the overall market’s sentiment. Is there more uncertainty? In such cases, safe-haven stocks like gold maybe things to take into consideration.
I say this because right now we are witnessing some volatility due to global economic uncertainty. Also, in the U.S., the President is going through the impeachment process. Furthermore, we’ve also got the coronavirus shaking things up. So with this in mind, it might not be a bad idea to have a diverse mix of penny stocks to watch.
Canadian Penny Stocks To Watch:
Jushi Holdings Inc.
First, Jushi Holdings Inc. (JUSH – Stock Report) shares jumped over 7% on Monday with trading volume 5 times larger than its average. The company is one o the North American-focused cannabis companies. In the US, the company has focused on creating a portfolio of multi-state operators. Currently, its portfolio holds brands like Nira, Beyond/Hello, The Lab, and The Bank.
This month the company caught some attention after realizing some changes to its management team. Jushi’s former COO, Max Cohen resigned from his corporate position. However, he will remain on the board. At the end of 2019, the company firmed up funding with a $27.46 million debt financing led by corporate insiders and founders. The funds are expected to be received this month, though no further updates have come out since.
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“This financing demonstrates our continued commitment to the vision and long-term investment opportunity for Jushi as an emerging multi-state cannabis and hemp operating leader,” stated Jim Cacioppo, Chairman, and CEO of Jushi Holdings Inc. “The additional working capital will support the organic build-out of operations in our key existing markets including Pennsylvania, Nevada, Ohio, Illinois, California, and Virginia, with additional growth opportunities through our application pipeline, well into 2021.”
Canadian Penny Stocks To Watch:
IMC International Mining
Next IMC International Mining (IMCX – Stock Report) has turned heads this month while gold stocks and other mining stocks have made a move to new highs. In particular, shares of IMC have climbed from $0.25 to highs of $0.40. This 60% move has come as the public continues to speculate on junior gold stocks.
The company has focused its attention on the Arizona property called Bullard Pass. The site has been host to previous gold production. According to IMC International, district production totals were 614,000 pounds of copper, 3,600 ounces of gold, and 15,000 ounces of silver from 17,000 tons mined that occurred between 1933 and 1956. Right now the company has staked 22 claims on the property and has staked additional claims to increase it to 171 claims. Historic geological surveys show that “the mineralogic and structural similarities of the Bullard and Copperstone districts suggest that potential exists for a major gold deposit in the area of the Bullard district.”
Rider: It is noted that the results of nearby or adjacent properties are not necessarily indicative of the potential of the Cathedral property and should not be understood or interpreted to mean that similar results will be obtained from the Cathedral property.
Aside from this, the company has put together a leadership team with decades of mining experience. It has also established an advisory board, which includes Greg Hawkins M.SC., P.Geo. Mr. Hawkins was the Founding Project Consultant and/or Founding Director of seven public and private Exploration/Development ventures. These include Brehm Mining, Dayton Mining, Nevsun Resources, Banro Resource Corp., Tagish Lake Gold Corp., African Gold Group, and Yellowhead Mining Inc. These ventures collectively have accounted for over $2.1 billion in market cap at the companies’ respective peaks.
Canadian Penny Stocks To Watch:
LexaGene Holdings Inc.
Similar to Jushi, LexaGene Holdings Inc. (LXG – Stock Report) has also seen a significant bump in average trading volumes on January 27. The penny stock typically trades around 89,000 shares. Today it has traded more than 560,000. LexaGene stock has been climbing for the better part of the last few months as well. Back in early November, the stock was trading around $0.48. This week it reached highs of $0.82 so far.
So what has helped give LexaGene a boost? Well, as we’ve discussed over the last few days, there are now coronavirus stocks getting attention from investors. This company develops genetic analyzers to detect pathogens and molecular markers. So, it wouldn’t come as a surprise that LexaGene has received inquiries to use its technology to detect coronavirus.
“LexaGene’s technology is ideally suited to identify novel pathogens such as coronavirus. Our genetic analyzer can quickly detect new pathogens in just one hour, on-site. Currently, the traditional process requires that samples from sick individuals must be transported to laboratories for manual processing. This is extremely inefficient and introduces a significant time-delay that can have severe consequences for disease spread. Today’s coronavirus outbreak highlights why LexaGene’s technology is needed so desperately,” said Dr. Jack Regan, LexaGene’s CEO and Founder. According to the company it’s finalizing the design of a commercial instrument with anticipation of starting its manufacturing ” in a few months” and commercial sales by Q3. This is a developing story.
Canadian Penny Stocks To Watch:
Irving Resources Inc.
Finally, Irving Resources Inc. (IRV – Stock Report) continued its rally that started toward the early weeks of 2019. In fact, on a year-to-date level, shares of IRV have climbed by over 110%. Similar to IMC International, Irving is focused on mining. Earlier this month the company came out with a few big updates of note.
First, it appointed a new director to its board, Haruo Harada. He will also serve as President of Irving Resources Japan GK, the company’s 100% owned Japanese subsidiary. Harada has over 30 years of experience in mineral exploration in numerous capacities. Following this update, the company also reported that it encountered more high-grade gold and silver att its Omui Mine.
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“Six of seven shallow holes from Omui Mine site display significant vein intercepts,” commented Dr. Quinton Hennigh, director and technical advisor to Irving. “This is remarkable given the early stage of this project and high level which was tested.”
Disclaimer:
Pursuant to an agreement between Midam Ventures LLC and IMC International Mining Corp. (CSE: IMCX) (IMIMF), Midam has been paid $200,000 for a period from January 7, 2020, to February 14, 2020. Midam has been paid an additional $200,000 and extended its period of coverage to March 14, 2020. Midam has been paid an additional $200,000 and extended its period of coverage to July 9, 2020. We may buy or sell additional shares of IMC International Mining Corp.(CSE: IMCX) (IMIMF) in the open market at any time, including before, during or after the Website and Information, to provide public dissemination of favorable Information about IMC International Mining Corp. (CSE: IMCX) (IMIMF). Full Disclaimer Here
