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Shell Summary for Oct. 17, 2018

2018-10-17 21:15 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange fell 6.69 points to 693.12 Wednesday. Today, as recreational marijuana became legal in Canada, the most active trader on each Canadian exchange was a marijuana stock. On the TSX-V, Namaste Technologies Inc. (N), an on-line seller (but not a grower) of marijuana, fell 20 cents to $2.24 on 22.15 million shares. On the Toronto Stock Exchange, Aurora Cannabis Inc. (ACB), the second-largest marijuana producer based on market cap, slipped 41 cents to $13.57 on 111.63 million shares. On the Canadian Securities Exchange, FSD Pharma Inc. (HUGE), a marijuana producer in Cobourg, Ont., lost three cents to 64 cents on 21.95 million shares. Finally, on the Aequitas NEO Exchange, Halo Labs Inc. (HALO), a cannabis oil extraction company in Oregon, gained nine cents to 45 cents on 2.01 million shares.

We have an update from a shell that is working on a deal with an aspiring cannabis and hemp oil extraction company. Gary Zak's NEX shell, CBD Med Research Corp. (CBM: halted), has amended the terms of its acquisition of World Class Extractions Inc., which is developing an oil extraction technology. World Class says it is aiming for a quick extraction process, high yields and high quality of oils. The shell has not yet released any other details about World Class, but we know that its main office is in Cobourg, and it shares a director with FSD Pharma. That director, Donal Carroll, is a chartered accountant and was the controller from 2013 to 2017 at Cardinal Meat Specialists Ltd. of Brampton, Ont.

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