Penny Stocks Watchlist: GBHPF, TREP, RFLX, STSBF

There are a number of stocks that have come on the radar of investors in recent days, and investors may do well to keep a keen eye on some of them. After all, being abreast of the latest moves in the market is often the best way. Here is a quick look at some of the stocks that may well be worth tracking at this point.

Global Hemp Group Inc. (OTC: GBHPF) Last week, the company was in the news after it announced that it had issued as many as 400,000 common shares for $0.05 each for the purpose of settling the consulting fees of $20,000 that had been due to Stephen Barhnhill Jr. Barnhill Jr., a director at Global Hemp Group Inc., had also been a former chief executive officer. The price of the securities had been set as per the minimum price that is allowed by the Canadian Securities Exchange.

The company also clarified that the number of common shares issued had been 400,000 and not 4,000,000, as announced previously in a news release on August 11, 2023. The issuance had been deemed to be a ‘related party transaction’ as per the provisions of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions, since Barnhill Jr. was a director at Global Hemp. It was also announced by the company that the common shares that had been issued for debt settlement would be subject to a statutory hold period of four months and a day.

Trucept Inc. (OTC: TREP) On Monday, the company was in sharp focus after it announced that in the three- and six-month periods ending June 30, 2023, it had boosted its operating income by 16% and 665%, respectively, on a year-over-year basis. In the same periods, Trucept Inc. also managed to record a rise in net income of 149% and 126% when compared to the same periods in 2022.

Additionally, the company also managed to cut down its operating expenses by 26% and 18% in the three-month and six-month periods, respectively, compared to the year-ago periods. The company also revealed that it had made an investment in Dalrada Financial Corporation owing to the fact that it had been consistently delivering strong financial results.

Reflex Advanced Materials Corp. (OTC: RFLX) On August 21, the company was in focus after it announced its intention to have a non-brokered private placement financing of a maximum of 4,000,000 units in the company. Reflex Advanced Materials Corp. would offer the units for $0.25 each to bring in gross proceeds to the tune of $1,000,000.

Each unit would be made up of one common share in the company’s capital and half of a share purchase warrant. The holder of a whole warrant would be entitled to pick up a common share in the company for the exercise price of $0.35 for a period of up to 24 months from the day of issuance.

South Star Battery Metals Corp. (OTC: STSBF) Yesterday, the company came into the news cycle after it announced that Roger Mortimer had joined its board of directors and would serve in the capacity of an advisor. In the press release from South Star Battery Metals Corp., it was noted that Mortimer was an experienced executive in the capital markets and had been a fund manager in the energy transition and global climate niches.

Additionally, it was announced that Lithium-ion battery materials specialist, graphite industry executive, and senior corporate advisor Ty Dinwoodie had joined the company’s executive team as its senior technical advisor. The Chief Executive Officer of the company, Richard Pearce, noted that everyone at the company was excited at the prospect of the two joining the team.

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