DRP Journal

Discover Research Profit

Finance 

ValOre Metals Corp (OTCMKTS:KVLQF) Stock Gains After $3.5 Million Private Placement

Pete Matthews , , , ,

Yesterday, the ValOre Metals Corp (OTCMKTS:KVLQF) stock was in significant focus among investors and it ended up with gains of as much as 6% for the day following a key announcement from the company. The company announced yesterday that it was contemplating the possibility of having a private placement of a non-brokered nature.

Trading Data

On Wednesday, KVLQF stock moved up 6.29% to $0.1775 with more than 37.98K shares, compared to its average volume of 31.05K shares. The stock moved within a range of $0.1600 – 0.2091 after opening trade at $0.1600.

ValOre Announces $3.5 Million Private Placement

In that placement, ValOre would offer as many as 17,500,000 units for the price of C$ 0.20 a unit. The company noted that it was looking for gross proceeds to the tune of C$3,500,000 from the placement. The news about the possibility of raising more capital seemed to have come as a source of optimism for investors.

A unit is going to be made up of a common share in the capital of ValOre Metals and half of a non-transferable common share purchase warrant. Anyone in possession of  a whole warrant would be entitled to pick up a solitary share in the company at the exercise price of C$0.30 each for a period of 24 months from the day of issuance. It was also announced that some of the insiders of the company are also going to have the option of acquiring units in the aforementioned offering.

Pete Matthews

Pete attended the University of Colorado and still calls the centennial state home. He chases trout in the summer and snowboards in the winter. He is fascinated with the markets and has a strong interest in nanocap stocks and crypto currency.