GPL Holdings Inc (OTCMKTS:GPLL) Stock Soars: Here is Why

On May 8 it emerged that GPL Holdings Inc (OTCMKTS:GPLL) and Global Pharma Labs Inc had inked a letter of intent over a merger. By way of this transaction, the shareholders in Global Pharma Labs would become shareholders in GPL Holdings.

Trading Data     

On Tuesday, GPLL stock rose 256.38% to $0.1201 with more than 141.80K shares, compared to volume of 4.16K shares. The stock moved within a range of $0.0800 – 0.2000 after opening trade at $0.1000.

Drug Clinical Trial Agreement And Opening Wholesale Facility

Additionally, once the transaction is completed Global Pharma Labs would turn into a fully owned subsidiary unit of GPL Holdings. However, that was not all. It was also noted that not too long ago Global Pharma Labs had gone into an agreement with a clinical research organization with regards to clinical trials in India for OA-sys. OA-sys is an antiarthritic product and is meant for the treatment of infectious/osteo arthritis.

Additionally, the company had also gone into a partnership not too long ago with VDGPL in Zambia, which had established a wholesale pharmaceutical facility in the city of Lusaka. In the press release that was sent out yesterday by GPL Holdings, the company noted that it believed that the merger would prove to be beneficial for the shareholders of both companies.

Additionally, it would also lead to better results for both companies in the United States and also I the international markets.