Unlock stock picks and a broker-level newsfeed that powers Wall Street.

InnoCan Pharma And 2 Other TSX Penny Stocks With Growth Potential

In This Article:

As the Canadian market navigates trade uncertainties and inflation concerns, investors are seeking opportunities that balance growth potential with resilience. Penny stocks, though a somewhat outdated term, continue to capture attention as they often represent smaller or newer companies with the potential for significant value appreciation. By focusing on those with strong financials and a clear path to growth, investors can uncover promising opportunities within this segment of the market.

Top 10 Penny Stocks In Canada

Name

Share Price

Market Cap

Financial Health Rating

Westbridge Renewable Energy (TSXV:WEB)

CA$0.76

CA$76.92M

★★★★★★

NTG Clarity Networks (TSXV:NCI)

CA$1.69

CA$71.24M

★★★★★☆

NamSys (TSXV:CTZ)

CA$1.31

CA$35.19M

★★★★★★

Orezone Gold (TSX:ORE)

CA$1.00

CA$515.6M

★★★★★☆

Dynacor Group (TSX:DNG)

CA$4.89

CA$206.41M

★★★★★★

Amerigo Resources (TSX:ARG)

CA$1.91

CA$314.55M

★★★★★☆

PetroTal (TSX:TAL)

CA$0.69

CA$632.02M

★★★★★☆

McCoy Global (TSX:MCB)

CA$3.01

CA$81.81M

★★★★★★

Findev (TSXV:FDI)

CA$0.50

CA$14.32M

★★★★★★

BluMetric Environmental (TSXV:BLM)

CA$1.18

CA$43.57M

★★★★★★

Click here to see the full list of 926 stocks from our TSX Penny Stocks screener.

Here's a peek at a few of the choices from the screener.

InnoCan Pharma

Simply Wall St Financial Health Rating: ★★★★★★

Overview: InnoCan Pharma Corporation is a pharmaceutical technology company that develops drug delivery platforms combining cannabidiol (CBD) with other pharmaceutical ingredients, operating in the United States, Canada, Europe, and internationally, with a market cap of CA$60.92 million.

Operations: The company's revenue is primarily generated from online sales, amounting to $28.86 million.

Market Cap: CA$60.92M

InnoCan Pharma, a pre-revenue company with a market cap of CA$60.92 million, has been actively enhancing its proprietary liposome-based cannabinoid technology, recently securing a patent in India. Despite being unprofitable with negative return on equity, the company is debt-free and possesses sufficient cash runway for over a year. Recent private placements raised US$1 million to bolster development efforts. The management team and board are experienced, contributing to strategic advancements like positive FDA feedback for their LPT-CBD platform. However, the stock remains highly volatile compared to most Canadian stocks and has seen significant share price fluctuations recently.

CNSX:INNO Debt to Equity History and Analysis as at Mar 2025
CNSX:INNO Debt to Equity History and Analysis as at Mar 2025

Colonial Coal International

Simply Wall St Financial Health Rating: ★★★★★★