Northern Lights Resources Corp (OTCMKTS:NLRCF) Stock On Radar After Latest News

January 3, 2023January 3, 2023 Madison Hall $NLRCF, $NLRCF news, $NLRCF stock, $Northern Lights Resources Corp (OTCMKTS:NLRCF), $OTCMKTS:NLRCF

Debt settlement of any nature is almost always regarded as major news for investors who may be interested in a company and hence, it might be the right time to take a look into Northern Lights Resources Corp (OTCMKTS:NLRCF).

Trading Data

On Friday, NLRCF stock rose 0.53% to $0.0189 with more than 90.40K shares traded, compared to volume of 20.31K shares. The stock moved within a range of $0.0189 – 0.0189 after opening trading at $0.0189.

Northern Lights – Announces Shares for Debt Settlement

The company was in the news back on December 30, 2022 after it announced that it had managed to settle as much as $80,000 in outstanding debts through the issuance of common shares. Northern Lights announced that it had issued as many as 3,809,524 common shares for the deemed price of $0.021 each. The debt share had been issued by the company for a price which was equivalent to the 20 day Volume Weighted Average Price of its common shares on the Canadian Securities Exchange on the previous day.

It should be noted that some of the debts that had been settled also belonged to some of the directors at Northern Lights. Hence, the shares that had been issued to the directors for the debt settlement had been a ‘related party transaction’ as per the regulatory rules. At this point in time, it is going to be interesting to see if the Northern Lights stock comes into focus among investors today.

Madison Hall

After graduating from the University of Buffalo, Madison gained a real interest in the markets. She tends to be a swing trader and enjoys Pilates and yoga in her downtime.