Penny Stocks to Watch: EELFF, SVVB, POSC, ROOOF

There is a pretty large market for penny stocks and every day millions of investors flock to the market to discover the next big thing in that particular niche. Investors need to be a bit risk tolerant but the rewards could be enormous if they can pick the right penny stocks. Here is a quick look at some of the penny stocks which could be tracked right now.

ENRG Elements Limited (OTC:EELFF) – This morning ENRG Elements Limited announced that due to the current market conditions and political volatility in the Republic of Niger, the Board of Directors of the company decided to withdraw the share purchase plan (SPP). The SPP had been announced on June 9 this year. The plan had been scheduled to be closed at 5 PM on August 1, 2023. It went on to add in its new release that ENRG Elements would not accept any more applications under the SPP.

All the funds which the company had received as part of the SPP would be refunded all the applicants in their entirety. That would be in line with the terms and conditions which had been indicated in the SPP Offer Booklet that had been published on June 16, 2023. The company is primarily involved in the development and exploration of its copper and uranium projects. Both those minerals are necessary for ushering in a clean energy future.

Savi Financial Corporation (OTC:SVVB) – The Savi Financial Corporation is the holding company of SaviBank and yesterday, the company announced its financial results for the second fiscal quarter of 2023. The company announced that it had generated $561000 in net income, which worked out to $0.13 per diluted share. In the previous quarter, the earnings had been $468,000 or $0.11 per diluted share and in the prior year period, it had been $572,000 or $0.13 per diluted share.

The net income in the first six months of the year was $1.03 million, which translated to earnings of $0.23 per diluted share. In the prior year period, the net income had been $1.54 million and the worked out to $0.34 per diluted share. The Chairman and President of Savi Financial Corporation, Michael D Cann, noted that the operating results in the second quarter and the half-year reflected robust balance sheet growth. It also demonstrated strong credit quality, he added.

Positron Corp (OTC:POSC) – It is a leading molecular imaging medical device company that is involved in the manufacturing, sales, and services of PET imaging systems. On Monday, Positron Corp announced that agreed on the terms with regard to the acquisition of six Attrius PER Systems and all Attrius PET systems held in inventory for $6 million.

The company reached the agreement thanks to its business cooperation partnership the fully owned subsidiary of Neusoft Medical Systems, Shenyang Intelligent Nuclear Medical Technology Co. The Attrius components, which are in inventory, provide a full range of parts that would be able to service the Attrius PET customers over the course of the next 10 years.

Northstar Clean Technologies Inc (OTC:ROOOF) – Yesterday Northstar Clean Technologies Inc announced that it had concluded an arm’s length strategic investment in Allmine Paving LLC. Allmine is a subsidiary unit of TAMKO Building Products LLC, one of the biggest manufacturers of residential roofing shingles, waterproofing solutions, and commercial roofing products in the United States.

Yesterday, it emerged that TAMKO Building Products had completed a private placement of as much as C$8480979.24 in the capital of Northstar Clean Technologies. The private placement was non-brokered in nature. It was part of the first part of the strategic investment from TAMKO.


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