The Investment Industry Regulatory Organization of Canada ("IIROC") has announced that shares of Umbral Energy Corp. (CSE:UMB)(OTC:UMBBF) will be halted starting at 8:00 AM on Wednesday, June 28th pending the release of news.
Before you think that we've started covering energy stocks, Umbral Energy is one of those marijuana stocks in disguise. Based on its name alone, you'd never guess Umbral has operations in the cannabis space. In addition to ongoing operations in the energy and basic materials space, Umbral owns 50% of late-stage ACMPR applicant, PhyeinMed.
Now, we don't know if this news is related to the company's operations in the cannabis space or not, but it's always a good idea to be more informed rather than less. We'll be sure to update readers regarding any developments in Umbral's cannabis operations and the market reaction when shares resume trading.
Shares of Umbral Energy finished Tuesday's trading on the CSE at $0.095 CAD, up 18.75% on the day. On the OTC Markets, shares of Umbral closed up 1.52% on higher than average trading volume.
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Now Read: What does it mean when a stock is halted?
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