Top Penny Stocks in Canada for October 2025: Web, Canso, Montero, and More

Canadian economic data shows signs of stabilization, with a focus on penny stocks for potential growth. The top 10 penny stocks in Canada include Westbridge Renewable Energy, Canso Select Opportunities, Montero Mining and Exploration, and CEMATRIX, among others. Thinkific Labs is highlighted for its recent profitability and potential resilience in its business model amidst market fluctuations.

Canadian economic indicators have shown signs of stabilization, with the labor market steadying and inflation figures aligning with expectations. Amidst this backdrop, investors are turning their attention to penny stocks, which represent potential growth opportunities in smaller or newer companies. By focusing on those with strong financial health, investors can identify promising candidates that may offer both stability and upside potential.

Top 10 Penny Stocks In Canada Click here to see the full list of 415 stocks from our TSX Penny Stocks screener. Let's explore several standout options from the results in the screener.

Cannabix Technologies (CNSX:BLO) is a technology company that develops marijuana and alcohol breathalyzer technologies for employers, law enforcement, workplaces, and laboratories in the United States. With a market cap of CA$61.75 million, Cannabix is pre-revenue and unprofitable but shows potential in its niche sector. The company recently made its first sale of the BreathLogix unmanned alcohol screening technology to a European maritime firm, marking a step towards commercialization. Despite financial challenges highlighted by an auditor's going concern doubts and increasing net losses (CA$2.46 million for Q1 2025), Cannabix remains debt-free and has not diluted shareholders significantly over the past year Promising TSX Penny Stocks To Watch In October 2025^[1].

EcoSynthetix Inc. (TSX:ECO) is a renewable chemicals company that develops and commercializes bio-based technologies to replace synthetic, petrochemical-based chemicals across various regions globally. With a market cap of CA$248.99 million, EcoSynthetix is navigating the penny stock landscape by leveraging its Biopolymer Nanosphere Technology Platform, generating US$19.71 million in revenue. Despite being unprofitable with a negative return on equity of -1.45%, it has reduced losses over the past five years by 9.9% annually and reported net income improvement in recent quarters. The company remains debt-free and has not faced significant shareholder dilution recently, supporting its financial stability alongside sufficient cash runway for over three years Promising TSX Penny Stocks To Watch In October 2025^[1].

NEO Battery Materials Ltd. (TSXV:NBM) is engaged in developing silicon anode materials for lithium-ion batteries used in electric vehicles, electronics, and energy storage systems in Canada. With a market cap of CA$66.61 million, NEO is pre-revenue and actively engaged in the development of silicon anode materials for lithium-ion batteries. Recent strategic moves include securing a Joint Development Agreement with an Asian manufacturer for high-performance battery products, signaling potential future revenue streams. The company has also closed private placements to raise capital, indicating ongoing investor interest despite its current unprofitability and negative return on equity. While NEO's short-term liabilities exceed its assets, it remains debt-free and continues to seek partnerships and technological advancements to enhance its market position in the evolving battery sector Promising TSX Penny Stocks To Watch In October 2025^[1].

Westbridge Renewable Energy is highlighted for its recent profitability and potential resilience in its business model amidst market fluctuations. The company's focus on renewable energy sources and strategic partnerships positions it as a promising candidate in the growing renewable energy sector.

Canso Select Opportunities is another notable penny stock, known for its diverse investment portfolio and strategic acquisitions. The company's ability to adapt to changing market conditions and its focus on value creation make it an attractive option for investors.

Montero Mining and Exploration is engaged in the exploration and development of mineral properties in Canada. The company's focus on gold and silver projects positions it as a promising candidate in the mining sector.

CEMATRIX is a technology company that specializes in the development of advanced materials for various industries. The company's innovative approach and focus on research and development make it a standout option in the technology sector.

Thinkific Labs is highlighted for its recent profitability and potential resilience in its business model amidst market fluctuations. The company's focus on e-learning platforms and strategic partnerships positions it as a promising candidate in the growing e-learning sector.

In conclusion, the stabilization of the Canadian economy has driven interest in penny stocks, which represent potential growth opportunities in smaller or newer companies. By focusing on those with strong financial health, investors can identify promising candidates that may offer both stability and upside potential.