Over the course of the past week, the Intermap Technologies Corporation (OTCMKTS:ITMSF) stock has been in heavy action and has managed to clock gains of as much as 25% during the period.
While the gains made by the stock are eye catching, it is also necessary to point out that there has been no news about the company in recent times. The last major news in relation to Intermap was back in April when the company managed to close the first tranche of a private placement.
Back on April 28, the company had announced that it successfully closed the private placement of 613500 Class A common shares of its common stock. Intermap Technologies issued those shares for C$0.87 a share and managed to generate total gross proceeds to the tune of C$533314.35. The company announced at the time that the proceeds were going to be deployed towards funding its growth and also for general corporate purposes.
In the previous trading session, ITMSF stock jumped by 20% to $0.7304 with more than 380k shares, compared to its average volume of 16K shares. The stock has moved within a range of $0.5959 – 0.7730 after opening the trade at $0.5959.