Battery Mineral Resources Corp (OTCMKTS:BTRMF) (TSXV:BMR) Stock Jumps After Financing News

On Monday there were many stocks which managed to make a notable move and one of those was the Battery Mineral Resources Corp (OTCMKTS:BTRMF) (TSXV:BMR) stock, which went up by as much as 5% yesterday. In light of the gains made by the stock it is quite likely that the stock is going to come into focus this morning.

Market Action

On Monday, BTRMF stock gained 5.5% to $0.2975 with 800 shares, compared to its average volume of 20k shares. The stock moved within a range of $0.2975 – 0.3150 after opening trade at $0.3150.

Battery Mineral Resources Closes Second Tranche of Unsecured Convertible Debenture Financing

Hence, it may be a good time to take a look at the announcement made by Battery Mineral Resources on Monday. Yesterday, the company came into focus after it announced that it had been successful in completing the second tranche of the private placement for its 8% unsecured convertible debentures. It should be noted that the placement was of a non-brokered nature.

The news about the private placement had actually been announced by the company last month on January 14 and January 24. The company managed to bring in gross proceeds to the tune of as much as C$698,960. The total proceeds from the offering came in at C$3,948,960 when taking into consideration the first tranche. The news came as a source of significant optimism for investors it seems and that was possibly the reason behind the rally.