These 3 ASX shares are on the rise today

The Food Revolution Group Ltd (ASX:FOD) share price is one of three at the small end of the market climbing higher on Thursday. Here's why…

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The market may have drifted lower today but not all shares have followed it into the red.

Three small cap shares that are on the rise today are listed below. Here's why they are rising higher:

The Food Revolution Group Ltd (ASX: FOD) share price has stormed 7% higher to 15.5 cents. This morning the juice company announced an increase in its distribution and new products with a net revenue impact in excess of $5 million per annum. The increase in its distribution relates to the manufacture of a range of cold-filled ambient not from concentrate 350ml juices for the independent Victorian grocery channel. This is all part of the company's plan to grow its distribution and product expansion from ~$35 million to up to $500 million within three to five years. I think Food Revolution is one to watch closely.

The MGC Pharmaceuticals Ltd (ASX: MXC) share price has returned to trade and climbed over 6% to 5.1 cents. This morning the cannabis company announced the sale of its MGC Derma business to cannabis investment company Cannaglobal. According to the release, a binding term sheet has been signed for C$12.5 million in Cannaglobal equity, a C$2.5 million loan repayment to the company, and a 5-year CBD and cosmetic materials supply agreement. To complete the transaction the company has acquired the remaining 49% of MGC Derma held by partner Dr. M. Burnstein Ltd for C$1.25 million.

The Tawana Resources N.L. (ASX: TAW) share price has returned to trade with a bang on Thursday. In afternoon trade mineral exploration company's shares are up 20% to 30 cents after it announced that it has secured a $40 million funding package from a consortium of lenders led by Tribeca Investment Partners. Management has advised that the funds will significantly strengthen its balance sheet and are expected to expedite the ASX listing of the Tawana and Alliance merger. It believes the support is a great endorsement of the Bald Hill Lithium and Tantalum Mine.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Gainers

Rising gold share price represented by a green arrow on piles of gold block.
Share Gainers

2 ASX All Ords stocks that would already have more than doubled your money this year

These ASX All Ords stocks have gained 126% and 145% year to date. But how?

Read more »

Ten smiling business people wave to the camera after receiving some winning company news.
Share Gainers

Here are the top 10 ASX 200 shares today

It was an historic day for the ASX, with the market setting a new record.

Read more »

Man drawing an upward line on a bar graph symbolising a rising share price.
Share Gainers

Why Fletcher Building, Johns Lyng, Pilbara Minerals, and Zip shares are charging higher

These shares are having a strong session on hump day. But why?

Read more »

A cool dude looks back at the camera while ziplining above the treetops.
BNPL shares

Zip share price rockets 19% on full-year earnings upgrade

Surging again today, Zip shares are now up 127% since their recent April lows.

Read more »

happy teenager using iPhone
Share Gainers

Up 96% since April, should I still buy Life360 shares today?

A leading expert offers his verdict on the growth outlook for the surging Life360 share price.

Read more »

Businessman smiles with arms outstretched after receiving good news.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a lucrative return to trading for investors this Tuesday.

Read more »

A man clenches his fists in excitement as gold coins fall from the sky.
Share Gainers

Why Austal, Botanix, DroneShield, and NextDC shares are storming higher today

These shares are starting the week with a bang. But why?

Read more »

A female coal miner wearing a white hardhat and orange high-vis vest holds a lump of coal and smiles as the Whitehaven Coal share price rises today
Share Gainers

The Coronado Global share price just surged to a 114% weekly gain. Here's why

Investors have sent the ASX coal stock flying higher in June. But why?

Read more »