Athena Gold Corporation (OTCMKTS:AHNR) Stock Gains As Company Concludes Non Brokered Private Placement

Anyone who may be looking into gold stocks at this point in time could do well to take a look at the Athena Gold Corporation (OTCMKTS:AHNR) stock which emerged as one of the key movers on Monday. It ended the day with gains of as much as 9%.

Market Action

On Monday, AHNR stock gained 8.80% to $0.0990 with 72K shares, compared to its average volume of 75K shares. The stock moved within a range of $0.0850 – 0.0990 after opening trade at $0.0900.

Athena Gold Corporation Closes CAD $500,000 Non Brokered Private Placement

The stock jumped after the announcement from the company with regards to the fact that it had managed to complete the private placement offering of its second and last tranche. Athena Gold managed to complete it by way of issuing a total of 4,068,750 units for C$0.08 each and raised gross proceeds to the tune of as much as C$325,000.

In total, the company issued as many as 6,250,000 units in this non-brokered private placement across two stages and in total, managed to raise C$500,000 in gross proceeds. Each of the units offered by the company were made up of one common share in Athena Gold and a share warrant to pick up a share. It was a significant development for Athena Gold and it is going to be interesting to see if the influx of fresh capital leads to any move in the stock or not.

Traders Note

AHNR stock is trading above the 20-Day and 50-Day Moving averages of $0.0821 and $0.0896 respectively. Moreover, the stock is trading is the oversold zone with RSI stands at 56.

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