Noram Ventures (TSX:V.NRM
, Stock Forum
) has looked up from its pre-early stage graphite claims and decided it wants to diversify into medical marijuana.
And looking at how their share price has petered out in recent months, that’s probably a good move – good for a 60% stock jump today anyway.
Noram has four graphite properties in B.C. at various stages of exploration and acquisition, but the allure of marijuana profits has them looking to engage “in discussions with parties that have applied to Health Canada to become licensed producers under the new Marihuana for Medical Purposes Regulations (MMPR) that went into effect April 1, 2014.”
“Under the MMPR, licensed producers can be authorized to possess, sell and or provide, ship, deliver, transport, destroy, produce, export and or import marihuana for medical purposes.”
Noram management says they’re also in discussions south of the border
, specifically with Washington State-based companies that have applied to become licensed to provide medical marijuana there.
The company has a market cap of $2m with 16.3 million shares outstanding.