Microcap Report: Affinor (C.AFI) up 240%, while weed stock Enertopia (C.TOP) takes a hit

Affinor Resources Inc. (CSE:AFI, StockForum) soared by 240% to 17 cents Monday after the Montreal Quebec-based mineral exploration firm said it had signed Momentum Public Relations to increase market awareness, provide investor relations services and generate strategic business development.

According to the news release, the agreement is to last 12 months with Momentum receiving a monthly consultant fee of $5,000 plus 420K incentive stock in Affinor at an exercise price of $0.10 for up to five years.

SouthGobi Resources Ltd. (TSX: T.SGQ, Stock Forum) fell 27.4% to 53 cents after the company reported a deeper net loss of $138.7 million, or 75 cents per share, for the fourth quarter of 2013.That compared to a loss of $56.5 million, or 31 cents per share, in the same period a year earlier.

Revenues increased to $32.4 million from $1.2 million, the company said in a press release.

Enertopia Corp. (CSE:TOP, StockForum) was down 17.6% to 75 cents. The Vancouver-based firm engaged in the emerging medical marijuana sector, announced a corporate update today pursuant to the Canadian federal court injunction handed down Friday March 21, 2014.

According to the news release, “The injunction exempts existing patients currently licensed to possess and grow medical marijuana, from compliance with the new Health Canada regulations for commercial growers that will continue to take effect for those commercial growers, on April 1.”