TSX Penny Stocks To Watch In July 2025

The Canadian market is navigating a complex landscape, with recent tariff announcements potentially impacting trade dynamics and economic growth. Despite these challenges, opportunities still exist for investors willing to explore under-the-radar options like penny stocks. While the term may seem outdated, penny stocks often represent smaller or newer companies that can offer significant growth potential when backed by strong financials.

Top 10 Penny Stocks In Canada

Name	Share Price	Market Cap	Rewards & Risks
Westbridge Renewable Energy (TSXV:WEB)	CA$0.74	CA$73.84M	✅ 3 ⚠️ 3 View Analysis >
illumin Holdings (TSX:ILLM)	CA$2.35	CA$112M	✅ 4 ⚠️ 1 View Analysis >
Fintech Select (TSXV:FTEC)	CA$0.03	CA$2.4M	✅ 2 ⚠️ 3 View Analysis >
Findev (TSXV:FDI)	CA$0.425	CA$12.03M	✅ 2 ⚠️ 4 View Analysis >
Mandalay Resources (TSX:MND)	CA$4.62	CA$436.01M	✅ 4 ⚠️ 0 View Analysis >
Thor Explorations (TSXV:THX)	CA$0.75	CA$508.95M	✅ 3 ⚠️ 2 View Analysis >
Automotive Finco (TSXV:AFCC.H)	CA$0.93	CA$18.63M	✅ 2 ⚠️ 4 View Analysis >
Pulse Seismic (TSX:PSD)	CA$3.63	CA$178.66M	✅ 1 ⚠️ 1 View Analysis >
Hemisphere Energy (TSXV:HME)	CA$1.91	CA$179.43M	✅ 3 ⚠️ 1 View Analysis >
McChip Resources (TSXV:MCS)	CA$2.35	CA$11.31M	✅ 2 ⚠️ 4 View Analysis >

Click here to see the full list of 446 stocks from our TSX Penny Stocks screener.

Underneath we present a selection of stocks filtered out by our screen.

Telescope Innovations (CNSX:TELI)

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

Overview: Telescope Innovations Corp. is a chemical technology company that develops manufacturing processes and tools for the pharmaceutical and chemical industries in the United States and Canada, with a market cap of CA$20.39 million.

Operations: The company generates revenue from its Chemicals segment, amounting to CA$4.45 million.

Market Cap: CA$20.39M

Telescope Innovations, with a market cap of CA$20.39 million, remains unprofitable but has managed to extend its cash runway beyond three years due to positive free cash flow growth. The company recently secured a CAD 1.2 million loan and raised CAD 5 million through private placements to support operations. Its innovative DualPure™ process for lithium sulfide production is progressing towards commercialization, offering potential cost advantages in the high-growth battery materials sector. Despite its strategic advancements, Telescope's financials show limited revenue and ongoing losses, highlighting the risks typical of penny stocks in emerging industries.

• Jump into the full analysis health report here for a deeper understanding of Telescope Innovations.
• Understand Telescope Innovations' track record by examining our performance history report.

Mene (TSXV:MENE)

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

Overview: Mene Inc. designs, manufactures, and markets 24 karat gold and platinum jewelry worldwide with a market cap of CA$41.65 million.

Operations: The company generates revenue primarily from its Jewelry & Watches segment, amounting to CA$28.31 million.

Market Cap: CA$41.65M

Mene Inc., with a market cap of CA$41.65 million, showcases both potential and challenges typical of penny stocks. Despite being unprofitable, the company has reduced its losses by 35.3% annually over five years and remains debt-free, indicating financial prudence. Its recent collaboration with Huntsman highlights Mene's commitment to quality and innovation in luxury jewelry, potentially enhancing brand prestige and revenue streams. The first quarter of 2025 saw sales rise to CA$7.34 million from CA$4.83 million year-over-year while narrowing net losses, suggesting an improving financial trajectory amidst high share price volatility.

• Click here to discover the nuances of Mene with our detailed analytical financial health report.
• Assess Mene's previous results with our detailed historical performance reports.

EarthLabs (TSXV:SPOT)

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

Overview: EarthLabs Inc. is a Canadian company engaged in mining investment, technology, and media, with a market cap of CA$31.17 million.

Operations: The company generates revenue from its financial technology segment, amounting to CA$7.74 million.

Market Cap: CA$31.17M

EarthLabs Inc., with a market cap of CA$31.17 million, reflects the volatility and potential of penny stocks. The company reported first-quarter 2025 revenue at CA$4.37 million, down from CA$5.37 million year-over-year, indicating challenges in maintaining consistent growth. Despite being unprofitable with a negative return on equity, EarthLabs has a robust cash position exceeding its liabilities and maintains over three years of cash runway if current conditions persist. Its management team is seasoned with an average tenure of 3.2 years, providing stability amidst high share price fluctuations over recent months.

• Take a closer look at EarthLabs' potential here in our financial health report.
• Learn about EarthLabs' historical performance here.

Where To Now?

• Click this link to deep-dive into the 446 companies within our TSX Penny Stocks screener.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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