Penny Stocks to Watch: GBHPF, TNPH, TBBC, GOGY, NRPI
Every day, millions of investors peer into their trading screens to discover the next big thing among penny stocks. However, it should be noted that one needs to put in the right amount of research to have long-term success. Here is a quick look at five penny stocks that one could look into at this point.
Global Hemp Group Inc. (OTC: GBHPF) This past Friday, the company announced that it had issued as many as 400,000 common shares for the deemed price of $0.05 each for the purpose of settling the accrued consulting fees due to Stephen Barnhill Jr.
Barnhill Jr., who is a current director and former Chief Executive Officer of the company, had been owed $20,000 in fees. The company issued the shares at the minimum permissible price as per the rules of the Canadian Securities Exchange. Additionally, the company reiterated the number of issued shares in the press release since, in a previous release, the number of shares had been quoted as 4,000,000.
The issuance of the shares had been regarded as a related party transaction as per the provisions of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. Global Hemp Group did not file a material change report 21 days ahead of the closing of the issuance since, under the circumstances, it considered it reasonable to complete the transaction quickly. The common shares issued by the company would be subject to a statutory hold of four months and a day.
Tian’an Pharmaceutical Co., Ltd. (OTC:TNPH): Following the conversion of 11.63 million preference shares, 174.4 million common shares have been issued, increasing the number of common shares in the issue to 800.0 million.
TNPH operates as an investment and advisory firm with a focus on directing investments into the realms of fintech, e-commerce, health, wellness, lifestyle, and education.
Triad Business Bank (OTC: TBBC) Recently, the bank was in the news after it announced that it had appointed the latest member to its board of directors, Jonathan Lee Kelly. Triad Business Bank announced in its press release that Kelly had more than two decades’ worth of experience as an investor, and to go along with it, he had a proven history of success with both multinational firms as well as family offices.
The bank further noted that his wealth of expertise, experience, and strategic know-how was going to strengthen the sustainability and growth of Triad Business Bank. The Chairman of the Board at the bank, Kevin Jessup, spoke about the development as well. He noted that the strategic thinking and honesty that Kelly brought to any firm had made him a major name in the financial industry. Additionally, it was also noted that Kelly was also well versed with regards to ESG, which had become a priority for many businesses.
Golden Grail Technology (OTC: GOGY) This past Friday, the company was in the news after it announced that it had tied up Saccani Distributing Company as the distribution partner for Cause Water in Central and Northern California. Saccani was established in 1933, and to this day, it remains a family-run enterprise. It provides its services in 22 counties across Northern and Central California.
It functions as the wholesaler of a range of domestic and imported beers, craft breweries, and a significant array of water, juices, non-alcoholic beverages, and soft drinks. The Chief Executive Officer of Golden Grail, Steve Hoffman, spoke about the development as well. He noted that California had led the way in recycling and sustainability with the view of cutting down on its environmental footprint. Due to the recyclable aluminum can packaging of Cause Water and the partnership with Saccani, the company sought to grow its market share in the state.
NRP Stone Inc. (OTC: NRPI) On August 18, the company, which is a pioneer in space aviation through the work of its subsidiary Uplift Aerospace Inc., announced major changes to its corporate structure. NRP Stone Inc. noted that those changes had been announced following approval from shareholders.
The company announced that all preferred and convertible shares had been canceled. The Common Series B Shares were made equal in ownership to the Common Shares, and holders were provided with 20:1 voting rights for a period of 8 years. Lastly, Joshua Hanes had been provided with revised incentive rights by way of an amendment to the original acquisition agreement.
