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COMMENT

Market Outlook He looks at the market from a top down perspective, economic data and technical data. He is seeing more of the economic indicators starting to turn up. He is still in a neutral position, but starting to dip his toe back in. The US chemical use index -- usually a good barometer of the economy -- is showing signs of slowing. He would like to see that pick up before he waves the all clear flag. Small caps have rallied in January in Canada following the tax loss selling late last year.

Unknown
BUY

A cannabis producer with operations in Nevada -- the first in the state. They operate a THC and CBD division. They are some of the best in extraction of concentration products. He thinks this will be a big year for them as he sees their operations growing from 10,000 square feet to about 100,000 square feet. They are selling out of everything they can produce in Nevada. There are rumours they move into California or Colorado.

agriculture
HOLD
They operated the Air Canada connector flights, receiving a block of hours each year. Recently, they have expanded into aircraft leasing, joining forces with Fairfax. He thinks this will become the growth side of the business. The stock price has fallen and he saw that as a good buy opportunity. He likes the dividend yield.
Transportation & Environmental Services
HOLD
It had been expanding its portfolio, but then it had some problems with some of their partner companies. They struggled to get out of those assets and the stock price suffered. Management has done a decent job and is now switching back to deploy capital. He has just recently added it back. The dividend is safer today. (Analysts’ price target is $21.00)
Financial Services
HOLD
He holds it. It was one of the first multi-state operators in the cannabis space. They announced in December a cash injection and a merger with another company. That deal is waiting to close and he thinks the stock will go from 1 times sales up to 3-5 times going forward. They have a big war chest of capital for future acquisitions.
0
HOLD
He does not own it today. He is always watching it. For a long term time horizon he would buy it and tuck it away. They continue to build out pipeline infrastructure in AB and BC, working with Altagas. He would like to see more activity in the oil and gas sector before stepping back in.
0
WEAK BUY
He is activity looking at this now. His preliminary work looks good. Environmental agencies are requiring more efficiency with emissions from natural gas production and QST-X is well positioned. It looks cheap today and the price is starting to perform well after making some deal announcements. He will likely add it soon.
oil / gas field services