As the Canadian economy continues to bounce back after a disquieting 2020, recessionary measures are making way for a surge in consumer demand.
Canadians are refamiliarizing themselves with the outside world with their checkbooks in tow, motivating businesses to get their supply chains in order.
This dynamic is leading to inflation – think of the recent spikes in lumber and used car prices – but there is reason to believe it’s transitory, as evidenced by May’s 3.6 per cent inflation rate slowing to 3.1 per cent in June.
Filling out the macro perspective, the Canadian dollar remains steadfast at US$0.80/C$1.00, while the S&P/TSX Composite Index is up 0.54 per cent over the past week and 17.12 per cent year to date.
Though headwinds remain, as wages rise to bolster the workforce and global commerce gets back on line, investors continue to look toward the future with their allocation decisions.
This past week, our readers focused on stories in the renewable energy, cryptocurrency, health care, mining and consumer sectors.
Let’s dive in.
EV Battery Tech (CSE:ACDC) launches social media-driven sweepstakes
Extreme Vehicle Battery Technologies is giving away a 2023 IoniX Pro Trilogy Vision electric vehicle.
The Trilogy Vision, a collaboration with Daymak International, is a proposed three-wheel, two-seat performance electric vehicle designed to provide the experience of ultimate luxury, eco-efficiency and sports car speed.
The contest begins on August 9 and ends on September 30 at 12:00 pm ET. The winners will be announced on October 15, 2021.
Entries can be made through Facebook, Instagram or Twitter.
Extreme Vehicle Battery Technologies is down by 1.79 per cent over the past week trading at $0.28 per share as of 10:55 am ET.
Bluesky Digital Assets (CSE:BTC) provides Ethereum mining update
Bluesky Digital Assets has mined 390.1549 ETH year-to-date as of August 8, 2021.
Bitcoin has also remained a strong and ongoing focus with newly acquired ASIC miners recently put into production to ensure a diversified mining strategy.
As of 12:15 pm ET, Bitcoin is priced at C$58,052.92 while Ethereum is priced at C$4,025.76, according to Coin Market Cap.
The company will also be investing in value-added artificial intelligence-based technology to remain nimble within the evolving blockchain industry.
Bluesky Digital Assets is down by 5 per cent over the past week trading at $0.57 per share as of 10:43 am ET.
Algernon Pharmaceuticals (CSE:AGN) announces licensing agreement with Dartmouth College
Under the terms of the agreement, Algernon will acquire the rights to a method of use patent for treating neuroendocrine cancers.
Neuroendocrine cells integrate the nervous and endocrine systems by receiving neuronal input from nerve cells and releasing hormones into the blood.
The agreement with Dartmouth includes license initiation, maintenance and milestone fees, as well as an ongoing royalty on sales.
Algernon is up by 20 per cent over the past week trading at $0.12 per share as of 11:27 am ET.
E79 Resources (CSE:ESNR) commences phase 2 drilling and confirms results at Happy Valley Gold Prospect
E79 Resources has initiated a follow-up drilling program at the Happy Valley Gold Prospect on its Myrtleford property in Victoria, Australia.
Drilling will test for continuity of mineralization around high-grade intercepts.
Analytical results have confirmed exceptionally high-grade gold in drill core from phase one diamond drilling at Happy Valley.
Gold mineralization at the prospect occurs as quartz infill fractures and spurry formations within carbonate-altered sedimentary units of Lower Ordovician age (485 – 470Ma).
E79 Resources is up by 9.09 per cent over the past week trading at $1.20 per share as of 11:41 am ET.
Naturally Splendid (TSXV:NSP) orders fourth container of NATERA Plant-Based Foods
A fourth shipping container of NATERA Plant-Based Foods is being shipped to Naturally Splendid’s facility in British Columbia.
Naturally Splendid will receive new SKUs, including plant-based ‘wings & drumettes’ and a new plant-based ‘burger’, all destined for the retail and foodservice markets.
The company continues to expand distribution with products intended for the flexitarian consumer market.
Naturally Splendid is unchanged over the past week trading at $0.045 per share as of 9:30 am ET.
That’s our Top 5 for the week. We’ll be back next Friday with a recap of what investors are reading on The Market Herald Canada.
