Microcap Report: Crown Point Energy (V.CWV), Atna (T.ATN), Cannabis Tech. (C.CAN) active

Crown Point Energy Inc. (TSX:V.CWV,Stock Forum) shares jumped 52.05% to 35 cents after the company released an update on an exploration well in Argentina.

The comapny said it ran into emulsion blockage issues at its La Hoyada x-1 well which affected formation fluid inflow and stymieing efforts to improve performance during production testing and as a result the company has decided to shut down the well for the Argentine winter and return to it afterward to install pumping equipment and to conduct a long term production test.

According to the new release, production experience in the area has shown that with continuous pumping oil production, rates and volumes may improve as the effects of the emulsion blockage lessen.

Atna Resources Ltd. (TSX: T.ATN, Stock Forum) rose 16% to 14.5 cents Tuesday after the company said it has commenced small scale mining and gold production at its Pinson underground mine near Winnemucca, Nevada.

Atna says in a press release it it plans to mine previously developed ore zones at Pinson with minimal investment requirements, and to make regular ore sales as tonnages are produced.

Cannabis Technologies (CSE:CAN, Stock Forum) fell 16% to 57 cents as its first therapy product, CT1-085, a proprietary topical formulation containing both cannabinoid and non-cannabis based active ingredients for the treatment of glaucoma, entered into phase 1 clinical trials.

According to the news release, CT1-085 has undergone 12 months of rigorous discovery and pre-clinical studies which showed the efficacy of the formulation to lower intraocular pressure (IOP) in animal models revealing a therapeutic potential in the treatment of glaucoma.