On Mar. 19, Enertopia Corp. (OTCQB: ENRT) share volume skyrocketed, with 4,676,726 shares changing hands, nearly seven times its three-month monthly average of 686,821 shares.
The upsurge in volume is being spurred in part by the Vancouver, BC-based medical marijuana company’s Mar. 17 update on its financing plans that are in motion.
Here’s an excerpt from the company’s announcement:
Shareholder Update
Enertopia announced 1,548,000 warrants had been exercised for net proceeds to the company of $289,475.00. This amount is in addition to those previously announced.
The company is currently receiving requests on a daily basis from current producers who are in the process of transitioning from the old system to the new Health Canada system for the licensed producer (LP) status. Talks are ongoing and are at various stages of due diligence at this time.
“These are exciting times for Enertopia with exceptional opportunities for our company in the Medical Marihuana Business sectors in Canada and the United States.” stated President / CEO Robert McAllister
Some of the issued shares will be subject to a hold period in Canada of four months and one day, or for any resale into the USA under Rule 144, six months and one day. Proceeds of the warrants exercised will be used for general working capital and for corporate opportunities.
The securities referred to herein will not be or have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
On Mar. 19, ENRT share price closed at 90 cents, unchanged from its closing price of 90 cents the previous day.
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Latteno Food Corp. Releases Fourth-Quarter Operating Results
Meanwhile, on Mar. 19, Latteno Food Corp’s (OTCPPINK: LATF) share volume also soared, with 503,477,322 shares changing hands, significantly higher than its three-month average volume of 365,628,184.
This latest uptick in volume comes on the heels Santa Ana-based medical-marijuana company releasing its fourth-quarter operating results.
According to the release, Latteno’s revenue for Q4 totaled $4,097,877, bringing 2013 Revenue to $15,100,739; and pre-tax Operating Profits soared to $409,909 and $983,103 for Q4 and 2013 respectively. Full 2013 Financials Statements, together with OTC Disclosure and Legal Opinion will be filed with OTC Markets as required, according to the company.
Q2 had reported a 4,600% increase in prior year's revenues and 1,500% increase in prior year's net profit; and Q3 had reported 3,700% increase in prior year's revenues and $573,194 in net profit versus a net loss of $54,678 for prior year 2012, according to the company.
Volatile Industry
Latteno Food is another penny-stock company chasing the marijuana business that has seen its stock volume and share price cool down lately.
The company experienced extremely high volume in mid-February that was most likely generated by the news that the acquisition company was picking up and moving its headquarters from Santa Anna, Calif. to Colorado Springs, Colo. to cash in on the medical marijuana gold rush.
Strategic Move
According to Feb. 12 release, the strategic move to Colorado will allow Latteno to capture a fast growing market through partnership and acquisitions. Latteno said it has contemplated the possibility of divesting current assets to concentrate solely on capturing and growing the medial marijuana business.
Latteno Food said at the time it was also prepared to establish a presence in Washington in anticipation of next wave in recreational use legalization.
Meanwhile the Latteno Food said it has forged partnerships with dispensaries and clinics in both Arizona and Nevada. Joint products development is underway as the company prepares to send representatives to field offices for further negotiations.
On Mar. 19, LATF share price closed at 0.0116 cents, down 0.0014 cents from its closing price of 0.0116 cents the previous day.
Find out what could be the best investor’s move when it comes to LATF by getting the complete report here, or by cutting and pasting the following link in your Web browser:
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Mantra Venture Group Ltd. Developing New Fuel-Cell Vehicle
In the alternative energy sector, Mantra Venture Group Ltd. (OTCQB: MVTG) stock volume shot through the roof Mar. 19, with 587,587 shares changing hands, more than three times its three-month average volume of 168,788 shares.
The Canadian green energy company’s sudden stock volume surge comes on the heels of the news that the company is developing a new fuel-cell vehicle prototype.
The Mar. 18 announcement said that the version of Mantra's "Mixed-Reactant Fuel Cell" will be designed specifically for integration into vehicles of various types, with the objective of demonstrating a working prototype later this year.
According to Mantra's engineers, the advantage of the MRFC is the fact that it eliminates one of the most costly and failure-prone components of a conventional fuel cell, which is the membrane. The mixing of fuel and oxidant also allows for simplifications in reactant delivery and reactor manifolding, reducing the space required for the system. The MRFC was developed at the University of British Columbia for six years with very promising results, but has not yet been integrated into transportation applications.
"We are excited to show off the technology in a practical application," says Mantra CEO Larry Kristof. "We will start with a small unit, but from there we expect scale-up to be fast."
As part of this project Mantra has begun collaborating with the laboratory of Professor Elod Gyenge at UBC. The considerable expertise and resources of Professor Gyenge and his team will be applied to the investigation of various fuels for use in the MRFC, including formates, formic acid, and hydrazine.
On Mar. 19, MVTG’s share price closed at 60 cents, down 7 cents from its closing price of 67 cents the previous day.
Find out what could be the best investor’s move when it comes to MVTG by getting the complete report here, or by cutting and pasting the following link in your Web browser:
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