Three Canada Stocks who's Volume Surged on Bullish Signals: $CMC $FM $IAN

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Cielo Waste Solutions Raises $2.5 Million For Expansion Plans

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Cielo Waste Solutions Corp. (TSX:CMC) has bottomed out from record lows on a huge turnover of traded shares, after closing an eight Tranche of Private Placement. The stock rallied 25.00% on a volume of 4.78 million shares as the renewable fuel company with game-changing technology announced it had raised $2.5 million from the offering.

The company intends to use net proceeds from the offering to scale up production of high-grade renewable fuel at its green waste to renewable fuel facility in Alberta. Part of the financing will also go towards financing general working capital requirements. The company has also agreed to settle amounts owing to certain contractors to a tune of $335,565.

Separately, the company has confirmed the postponement of the filing of annual audited financial statements for the year ended April 30, 2020.

First Quantum Minerals Rallies On Robust Revenue Growth

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First Quantum Minerals Ltd. (TSX:FM) trading volume has surged significantly to 3.65 million shares in the wake of the company showing it performed well, amid the unprecedented challenges brought about by COVID-19.

Copper production from the company's mines in Zambia remained strong as the company registered low unit costs. Likewise, the company exited the quarter with $1 billion in sales representing an 8% year over year increase.

An increase in sales can be attributed to higher gold and copper sales from the Cobre Panama mines. The company exited the quarter with $155 million in cash flows from operations as a gross profit of $141 million.

IAnthus Capital Rallies on Recapitalization Plans

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IAnthus Capital Holdings Inc. (TSX: IAN) upward momentum continues to gather pace in the wake of the company reporting impressive first-quarter financial results. The stock gained 6.25% on a volume of 1.49 million shares, having emerged Q1 revenues increased 12% to $30.4 million.

The stock has also continued to attract bulls on the company, confirming that leading advisory firms support an Arrangement Resolution that will see existing shareholders retain some value even on the company defaulting some of its obligations. The company has tabled a Recapitalization Transaction that will result in the reduction of the consolidated debt by about $54.7 million

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