Penny Stocks to Watch: PSUD, CGAC, ENZC, IGXT

There is a massive following for penny stocks and it is hardly surprising given the sort of gains these stocks can often generate. However, it is also important for investors to do their research thoroughly in order to discover the stock worth tracking. Here is a quick look at four stocks that could be worth adding to the watch list.

PetroSun Inc (OTC:PSUD) – Last Friday the company announced that it had inked a joint venture agreement to complete and develop the Manuel Seep Project with Pinta Dome Operating. The joint venture would include Manuel Seep 2-1 in section 2, Township 12 North, Range 24 East to the Holbrook Basin in Apache County in Arizona. The joint venture is not only going to be limited to those.

The company owns considerable acreage which is prospective for helium production and exploration in the Holbrooke Basin in Arizona. As per the provisions of the joint venture agreement, each entity or its assignees would own 50% of the working interest. However, 100% of the working interest would earn 80% of the net revenues interest. PintaDone would be responsible for conducting the completion operations which include the supply of the essential machinery, acidic treatment, perforation, wellhead installation, and tubing. The costs related to the same would be borne by Pinta Dome as well.

Code Green Apparel Corp (OTC:CGAC) – The company is one of the leading operators in the crypto industry and this past Friday it was in focus. Code Green Apparel Corp announced that it had completed the acquisition of as many as 50 advanced Bitcoin Miner S19 XP units from Compass Mining.

The company noted that it was a significant new milestone in its growth strategy since it took the total number of miners under its control to 150. It was a strategic investment from the company and would further strengthen its status as a major player in the critical mining sector. It would also help the company in earning more hash rate.

Last but not least, Code Green Apparel also noted that the investment also indicated its commitment to stay on as a leading player in the crypto mining industry.

Enzolytics Inc (OTC:ENZC) – On July 21, Enzolytics Inc’s fully owned subsidiary unit Biogenysis Inc, a drug development biotech company, announced that it had gone into partnership with Khalpey AI Lab. As per the provisions of the partnership, the two companies would work on the identification of biomarkers that could help with discovering the early onset of Alzheimer’s disease.

As per the terms of the agreement, the artificial intelligence offered by Khalpey would be deployed for the unveiling of the biomarkers and for the prediction of the onset of the disease. Alzheimer’s affects as many as 5.2 million United States residents who are 65 and hundreds of thousands under that age suffer from early onset of the disease. Artificial intelligence can analyze, manage and interpret a complex range of data sets and come up with solutions.

IntelGenx Technologies Corp (OTC:IGXT) – This past Friday IntelGenx Technologies Corp announced that J Bernard Boudreau had resigned from its board of directors. The resignation went into effect immediately. He had been a director of the company since 2006 and Vice Chairman since 2014. Additionally, Boudreau had also been the chairman of the Corporate Governance and Nomination Committee. In his statement, the company’s founder and Chairman Horst G Zerbe thanked Boudreau for his contributions to the successes of the company on behalf of the entire board of directors. He went on to add that for 17 years Boudreau had been a champion of corporate development at the company.

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