Golden Triangle Ventures Inc. (OTCMKTS:GTVH) Stock Slides 13% in a Week: What’s The Buzz?
Golden Triangle Ventures Inc. (OTCMKTS:GTVH) is down 13% in a week. The company has announced that its executive team has amended the investment terms from the primary Note Holder, TK Zarro, LLC.
Corporate Update
Following the renegotiation, TK has converted all of its Golden Triangle Ventures Series H Preferred shares into convertible notes. In addition, Golden Triangle Ventures has revised its loan arrangement with TK, allowing it to access additional funds through a $5,000,000 credit line. The annual simple interest rate on the credit facility will be 10%. According to the Credit Facility terms, any sum payable to TK may be converted into restricted shares at a 20% discount to GTVH’s share price on a dollar-for-dollar basis.
Additionally, the company’s board of directors has decided to seek an exempt offering under Regulation A, Tier 1 of the JOBS Act, to help it finance some of its near-term capital needs, subject to SEC qualification. Management is currently engaging with its securities counsel to file this Reg. A. So GTVH is worth watching in the coming weeks.
Key Quote
Steffan Dalsgaard, CEO of Golden Triangle Ventures, states, “As we have grown faster than I ever imagined within the past 12 months, the capital requirements needed to launch the many projects within Golden Triangle Ventures have also grown. TK Zarro has been there to support our needs time and time again. Consolidating all of his past investments into this credit facility will bolster our corporate structure and provide a much friendlier and less dilutive funding instrument that will continue to help our company grow.”
Traders Corner
GTVH stock is trading below the 20-Day and 200-Day Moving averages of $0.0617 and $0.0668 respectively. Moreover, the stock is trading below 200-Day moving average of $0.1832. The stock is down 30% in the past 3-month.
