Discover TSX Penny shares with market restrictions under CA $ 200 million

Despite the growing tariff rates, the Canadian market has shown stability, with inflation and economic data being stable. In this context, Penny’s shares – usually are smaller or smaller companies – create an intriguing investment area. Although the term may seem outdated, these actions can offer potential for growth when supported by strong financial health and solid foundations.

Name	Stock	Market cap	Financial healthcare
Westbridge Renewable Energy (TSXV: Web)	CA $ 0.70	CA $ 69.79m	★★★★★★
Illumin Holdings (TSX: Illm)	CA $ 2,09	Like $ 108.9 million	★★★ters ☆ ☆
Fintech Select (TSXV: FTEC)	CA $ 0.025	Like $ 2.4 million	★★★★★★
Findev (TSXV: FDI)	CA $ 0.425	As $ 12.18m	★★★★★★
Mandalay Resources (TSX: MND)	CA $ 4.64	CA $ 427.48m	★★★★★★
Thor Explorations (TSXV: THX)	CA $ 0.76	CA $ 492.32m	★★★★★★
Pulse Seismic (TSX: PSD)	CA $ 3.38	CA $ 176.12m	★★★★★★
ACT ENERGY TECHNOLOGIES (TSX: ACX)	CA $ 4.53	CA $ 153.38m	★★★ters ☆ ☆
Hemisphere energy (TSXV: HME)	CA $ 1,94	Like $ 186.11 million	★★★★★★
McCHIP RESOURCES (TSXV: MCS)	CA $ 1,84	As $ 8.91 million	★★★★★★

Click here to see the full list of 450 shares on our TSX Penny stock screen.

Here we emphasize a subset of our preferred stocks from the screen.

Just Wall St Financial Health Rateing: ★★★★★★

Review: Happy Creek Minerals Ltd. Participates in the acquisition, exploration and development of mineral properties in Canada, with a market capitalization of $ 12.54 million.

Operations: Happy Creek Minerals Ltd. It does not take into account specific segments of revenue.

Market cap: As $ 12.54m

Minerals Happy Creek, with a market cap of $ 12.54 million, has been in advance of revenue and has been confronted with increasing losses over the last five years. The company has been out of debt and has recently raised $ 3.25 million through a private location to strengthen its short cash track. Despite experienced management members and board members, the high price variability of Happy Creek shares is a risk to investors. Recent profits have shown improvement from net loss to light net income in Q1 2025; However, significant annual losses continue, causing auditors to express concern about their ability to continue as a constant anxiety.

TSXV: HPY debt to history and analysis of equity, as on July 20, 2025

Just Wall St Financial Health Rateing: ★★★★★★

Review: Sparq Systems Inc. Designs, produces and sells single -phase micro -notes for residential and commercial solar applications with a market cap of $ 87.70 million.

Operations: Sparq Systems Inc. did not report specific segments of revenue.

Market cap: CA $ 87.7m

Sparq Systems, with a market cap of $ 87.70 million per CA, is a company before revenue facing challenges characteristic of a penny. Recently, it has started commercial production of micro -inspections in India, marking a significant operational stage. Although it is free of debt and has short -term assets exceeding liabilities, it has reported a net loss of $ 1.07 million for Q1 2025 QU and continues to be confronted with continuous doubt from auditors due to continuing losses. The company’s cash runway extends a little over a year if the current cash trends continue, emphasizing the financial pressure that it encounters amidst its expansion efforts.

TSXV: SPRQ debt to history and equity analysis, as on July 20, 2025

Just Wall St Financial Health Rateing: ★★★★★★

Review: Northern Superior Resources Inc. is a junior mining company focused on research and evaluation of Gold Properties in Ontario and Quebec, Canada, with a market cap of $ 184.06 million.

Operations: Northern Superior Resources Inc. There are no reported segments of revenue.

Market cap: CA $ 184,06M

Northern Superior Resources, with a market cap of $ 184.06 million, has been previously acquired and focuses on expanding its golden gold in Ontario and Quebec. Recent acquisitions have increased their position on their land in the Chibougamau gold camp, raising the potential to expand the Philibert project resources. Despite any meaningful revenue, it remains without debt with short -term assets covering liabilities. The company has a cash runway for over a year, but faces the financial challenges characteristic of junior miners. The latest results from the well show promising high -end gold zones, which implies potential growth opportunities as part of its strategic survey initiatives.

TSXV: Sup debt to history and analysis of equity, as on July 20, 2025

This Simply Wall ST article is general. We provide comments based on historical data and forecasts for analysts only using impartial methodology and our articles are not intended to be financial advice. This is not a recommendation to buy or sell shares and do not take into account your goals or your financial status. We strive to provide you with a long -term focused analysis led by basic data. Note that our analysis may not be reported in the latest significant companies or quality materials. Just Wall ST has no position in the reserves mentioned.

Companies discussed in this article include TSXV: HPY TSXV: Sprq and TSXV: Sup.

This article was originally published by Simply Wall St.

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