Resilience has been the word for Canada’s financial system throughout the pandemic, said Bank of Canada Deputy Governor Paul Beaudry.

“This resilience has helped households, businesses and financial institutions come through the pandemic in reasonably good financial health,” he remarked in his speech to the Ontario Securities Commission on Tuesday.

The hardships Canadians are facing today—imbalance in the housing market, high levels of household debt, and fears around climate change—were the same concerns affecting Canadians across the country before the pandemic, said Mr. Beaudry.

Indeed, with housing prices skyrocketing and flooding ravaging both coasts, Canadians continue to show resilience in the face of new variants and COVID-19 measures.

The country’s main stock index, which showed signs of steady improvement over the last year and a half, has begun to see declines as it reached a one-month low on Friday. The S&P/TSX Composite Index is down 2.11 per cent this week, trading at 21,124.33 as of Friday afternoon.

The dollar is also weaker this week after reaching over US$0.81/C$1.00 in October, and today is sitting at US$0.79/C$1.00.

Cannabis is a hot topic in today’s market as well, as The Market Herald released The Market Herald Thematica discussing the forces driving the cannabis market.

TMH reporter Alex Jennings sat down with Twila Jensen from Stockhouse Publishing to discuss the state of cannabis in Canada. Cannabis companies are beginning to ramp up, said Twila, with TSX cannabis companies dominating the market. However, medicinal products take time to enter the market, so this emerging industry will continue to grow as more companies saturate Canadian markets.

This week TMH readers showed interest in mining, energy, technology, and healthcare companies as many corporations wrapped up quarterly financial results.

Let’s take a look at the stories that drove Canadian investors this week.

Zoomd Technologies (TSXV:ZOMD) reports strong Q3 and YTD results

On Monday, Zoomd CEO Ofer Eitan sat down with Dave Jackson from The Market Herald to discuss the company’s financial results for the third quarter.

“We achieved a new record in Q3 2021 as our focus on diversifying our client base, both with respect to sectors and geographies, is beginning to bear fruit,” said Mr. Eitan. “The strong revenue growth is producing positive adjusted EBITDA and cash flows, demonstrating the strength of our business and strategic positioning.”

Fiscal highlights included revenue that exceeded 2020 revenue by 141 per cent, making this the fourth consecutive quarter of revenue growth.

Shares in Zoomd Technologies are down 3.23 per cent, trading at $0.60 per share as of 11:53 am EST on Friday.

Highmark Interactive (TSXV:HMRK) begins trading on the TSXV

Highmark Interactive, a medical technology company, began trading on the TSX Venture Exchange on Monday under the ticker symbol HMRK.

The listing follows the acquisition of Highmark Innovations Inc. as well as the closing of the acquisitions of Complex Injury Rehab Inc. and Highmark Health Mississauga.

“The closing of our qualifying transaction and listing on the TSXV marks a major milestone for our company,” Highmark CEO Dr. Sanjeev Sharma told Caroline Egan.

“We look forward,” said Dr. Sharma, “to providing next generation technology leadership through our proprietary platforms.”

Shares in Highmark Interactive are steady, trading at $0.55 per share as of 2:15 pm EST.

FuelPositive (TSXV:NHHH) releases operational costing model and timeline for green ammonia production system

On Tuesday, FuelPositive announced that it would be focusing on farming for its first demonstration pilot project.

The company’s initial systems will produce up to 300 kg of green anhydrous ammonia per day, which amounts to 100 tonnes per year.

The first pilot system will be ready to deploy in the summer of 2022 with the second and third systems ready later that year.

FuelPositive Corp. is down 2.44 per cent, trading at $0.20 per share as of 1:05 pm EST.

Max Resource (TSXV:MXR) granted additional mining concession contracts

In mining news, Max Resource announced on Thursday that the company has been granted three additional Mining Concession Contracts by authorities in Colombia.

In total, the company now has four concession contracts for its URU zone.

Brett Matich, CEO of Max Resource sat down with Caroline Egan to discuss the contracts.

“These four strategic Mining Concession Contracts provide secure tenure of the URU zone and immediately forge the way for more advanced work programs, surveys and drill permitting,” he said.

The URU zone remains open in all directions and has recorded highlight values of 14.8 per cent copper and 132 grams of silver per tonne.

Shares in Max Resource Corp. are down 4.65 per cent, trading at $0.205 per share as of 1:22 pm EST.

Algernon Pharmaceuticals (CSE:AGN) receives positive feedback from the U.S. FDA for Phase 1 Ifenprodil small cell lung cancer study

On Wednesday, Algernon announced that it would immediately move to file an IND application to begin its Phase 1 SCLC study as soon as possible.

Based on the feedback from the pre-IND (Investigational New Drug) meeting, the company plans to use its current Ifenprodil finished product inventory for the study.

“We are very pleased with the response we received from the U.S. FDA,” said Christopher J. Moreau CEO of Algernon Pharmaceuticals Inc.

“Being able to move directly into a SCLC Phase 1 study will save the company considerable cost and time and will allow us to more quickly begin investigating Ifenprodil as a potential non-toxic cancer treatment option for patients who suffer from this disease.”

Shares in Algernon Pharmaceuticals are down 1.76 per cent, trading at $6.14 per share as of 1:29 pm EST.

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