Here’s the weekly recap on 4 Canadian Microcaps that had something to talk about!
Canadian Zeolite (TSXV: CNZ, OTCQB: CNZCF)
The long expected news flow began this week with Canadian Zeolite putting out two news releases. On Monday they announced that had commenced the 2017 shipping season with a new distribution agreement with Shift Supplies Ltd. as a Canadian distributor of the Company’s natural zeolite product line. The plan will see Shift supplying their smaller dealers from their 12,000 square foot facility in B.C. and their warehouse in Ontario, and their larger customers directly from the Kamloops mill where CNZ’s natural zeolite is processed.
On Wednesday they announced they had entered into a non-binding letter of intent to acquire 100% of a manufacturer and distributor of zeolite products based in the United States. According to the news release, the target company has a state of the art GMP (Good Manufacturing Practice) certified research and development lab in Arizona where it develops its product formulations and manufactures product lines. The facility can accommodate bulk zeolite warehousing and distribution of manufactured zeolite products into the U.S. market. The company is focused on creating nutraceutical products for human use, as well as enhanced fertilizers and water filtration systems. The target company CEO stated, “We have tested the Bromley Creek zeolite (from Canadian Zeolite) and test results have far exceeded our expectations.”
CNZ began the week trading at $0.495 and reached a high of $0.79 before ending the week at $0.59
Lite Access Technologies Inc. (TSXV: LTE, OTC PINK: LTCFF)
Lite Access Technologies Inc. reported their Q2 results on May 30th, 2017. The highlights for the second quarter include:
- Increased Lite Access UK 2017 Q2 revenues of $954,196 compared to 2017 Q1 revenues of $119,193 for an increase of 700%
- 2017 Q2 revenues of $1,807,563 compared to 2017 Q1 revenues of $1,798,254
- Cash of $19,830,446 as of March 31, 2017 compared to cash of $2,115,078 as of September 30th, 2016
- Firmly established Lite Access UK operations accounting for 53% of Lite Access’ 2017 Q2 revenue
- Started first customer fibre deployments in the UK in connection with a major UK network operator in Wrexham, Wales
- Awarded and commenced fibre optic network build for the City of New Westminster, B.C.
- New South American construction partner, TEASA & Tilsit, awarded fibre connectivity project in Panama
- Successful introduction of Lite Access’ revolutionary narrow trench technology – uniquely designed for high fibre count (backbone) applications
- On March 28th, 2017 the company closed a bought deal financing for gross proceeds of $20.45 million primarily to advance and support further construction deployments in the UK.
Shares of LTE opened the week at $2.45, which was also the high for the week, and closed at $2.20
Dolly Varden Silver Corporation (TSXV: DV, OTC PINK: DOLLF)
Dolly Varden announced that the exploration teams have mobilized for the 2017 program on the Dolly Varden Silver Project in the Golden Triangle of northwestern British Columbia. The 2017 exploration program will consist of approximately 5,000 metres of diamond drilling, with two thirds allocated to resource validation and expansion, and one third allocated to reconnaissance drilling on targets beyond the current resource estimates. There are over 50 exploration targets on the property. Geological mapping, plus geophysical and geochemical surveys are planned for both the main Dolly Varden Ag-Pb-Zn project as well as the adjacent Big Bulk Cu-Au project.
This season’s program will have a minimum budget of $3.5 million.
Shares of DV opened the week trading at $0.61 reaching a high of $0.73 before closing the week at $0.59
Supreme Pharmaceuticals (CSE: SL, CSE: SL.CN, CNSX: SL, OTC PINK: SPRWF)
Supreme announced that is has received final approval from the TSX Venture Exchange to list the Company’s common shares on the TSX.V The common shares are expected to begin trading on the TSX.V at the market open on June 6th, 2017 under the symbol “FIRE”. In connection with the listing on the TSX.V, Supreme’s common shares will be voluntarily delisted from the CSE at the close of markets on June 5th, 2017.
John Fowler, President and CEO of Supreme, stated: “The graduation from the CSE to the TSX.V is a milestone in our development as a company.” “Our ticker symbol ‘FIRE’ embodies our passion for the cannabis plant and our commitment to quality. Our graduation to the TSX.V represents the next chapter of our growth.”
Shared of SL began the week trading at $1.45 reaching a high of $1.52 and closing the week at $1.47