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NNRF Inc (OTCMKTS:NNRI) Stock Takes a Hit After The Acquisition News

Jon Williams , , , ,

One of the companies which could well be worth tracking for investors at this point in time is NNRF Inc (OTCMKTS:NNRI). The company was in the news yesterday after it announced that back on January 31, 2023 it inked a binding letter of intent with regards to the acquisition of a majority stake in the Australian corporation Zeolite Australia Pty Ltd.

Trading Data

On Wednesday, NNRI stock lost 5.69% to $0.0116 with more than 928.22K shares, compared to volume of 319.261K shares. The stock moved within a range of $0.0100 – 0.0137 after opening trade at $0.0124.

NNRF, Inc. Signs Binding Letter of Intent to Acquire Majority Interest in Zeolite Australia

It could well prove to be a major new deal for NNRF considering the fact that it generates growth through acquisitions in the green economy and Zeolite is the owner of the most in demand zeolite deposits in Australia.

The Binding Letter of Intent signed between the two parties is an indication that they are now going to negotiate in good faith so as to close the deal in order to build value for shareholders.

One of the things that ought to be pointed out with regards to the deal is the fact that both companies are focussed on bringing along a positive impact on the environment and ushering in a better future. Zeolite Australia is a family owned business and is well known for its drive towards sustainability and quality.

Jon Williams

Jon graduated from the University of Michigan with a degree in finance. He is an avid investor and enjoys reporting on the markets. When he is not in front of a computer he enjoys playing golf and watching basketball.