Liberty Defence Holdings Ltd (OTCMKTS:LDDFF) (TSXV:SCAN) Stock Moves Up After Private Placement

In the past week, there has been considerable attention on Liberty Defence Holdings Ltd (OTCMKTS:LDDFF) (TSXV:SCAN) and that can be gauged from the 7% rise in the company’s stock price during the period. The company is one of the leaders in the treat detection solution and concealed weapons industry.

Market Action

On Monday, LDDFF stock ended up by 0.65% to $0.28 with 9k shares, compared to its average volume of 23K shares. The stock moved within a range of $0.2800 – 0.2800 after opening trade at $0.28.

Liberty Announces C$6.6 Million Brokered Private Placement

As it happens, the company was in the news yesterday after it announced that it had inked an agreement with the company CanaccordGenuity Corp for being the lead agent, in a consortium of agents. It was a major development for the company and one that is expected to be tracked closely by investors as well as analysts over the coming days.

The agreement in question is in relation to a brokered private placement in which Canaccord is going to make an offering of as many as 20,000,000 units. The price for the units has been set at C$0.33 and Canaccord seeks to bring in as much as C$6,600,000 from the transaction. Liberty Defence is going to get a payment for its services as the lead agent and it is going to be interesting to see if this news leads to any further interest from investors and results in gains or not.

Traders Note

LDDFF stock is trading above the 10-Day and 20-Day Moving averages of $0.2690 and $0.2710. Moreover, the stock is trading is the neutral zone with RSI stands at 51.