Investors need to watch the market closely if they are to make intelligent decisions on a consistent basis, and the same applies to penny stock investments. There have been a number of stocks that have been on the radar of investors in recent days, and here is a quick look at some of those.
Small Pharma Inc. (OTC: DMTTF): The United Kingdom-based biotech firm is involved with short-duration psychedelic therapies meant to treat mental health conditions. Yesterday, Small Pharma Inc. jointly announced with Cybin Inc. that the two companies had entered into a definitive agreement by which the latter would acquire all the issued and outstanding shares of the former.
Cybin is a clinical-stage biopharmaceutical firm that is involved in bringing about path-breaking changes to the field of mental health through its innovative psychedelic-based treatments. As per the terms of the all-stock transaction, Small Pharma shareholders would be awarded 2409 common shares in Cybin for each common share they hold in the company.
As things stood on Monday, the existing shareholders of Cybin and Small Pharma would have stakes of around 74.5% and 25.5% in Cybin, respectively. The board of directors of the company approved the deal unanimously after it had been recommended unanimously by a special committee of independent directors. The board of directors of Cybin did the same.
Jack Nathan Medical Corp. (OTC: JNHMF) On Monday, the omni-channel healthcare solutions leader announced that it had appointed its permanent Chief Financial Officer in the form of Bharat Choudhary. Choudhary would take over from the interim CFO of the company, Spence Walker, on September 22, 2023. The company noted that in his interim role, Walker had played a major role in navigating the company’s financial operations, and in the news release, Jack Nathan Medical Corp. thanked him for his contributions. The company noted that Choudhary was a highly experienced executive, and his experience spanned more than 15 years across a range of tightly regulated industries.
It was also noted that he had considerable experience in the fields of operations, finance, and accounting, having worked for both publicly listed multinational corporations as well as privately held entities. The chairman and chief executive officer of the company, Dr. Glenn Copeland, spoke about the matter too. He stated that everyone at the company was thrilled at the prospect of welcoming Choudhary to the company as the new CFO.
Southern Empire Resources Corp. (OTC: SMPEF) On August 28, the company announced that it had entered into an agreement with Cuprum Mining Corporation, an arm’s-length Canadian company. As per the provisions of the agreement, the company would be granted the opportunity to acquire up to a 100% stake in Cuprum’s share capital.
Consequently, it would enable Southern Empire Resources Corp. to own the entirety of the Suaqui Verde Copper Project in Cuprum. The project comprises certain mineral tenements that are situated in the state of Sonora, Mexico. Sonora is well known for being mining-friendly.
Applied Energetics, Inc. (OTC: AERG) The company is a leading player in the advancement of ultrashort pulse laser (USPL) technologies. Yesterday, Applied Energetics Inc. announced that it had been successful in bagging a contract worth $1.99 million. The contract, which would run for two years, had been awarded by the Office of Naval Research of the Department of the Navy.
The company would be involved in the development of a high average and peak power USP optical system. The President and Chief Executive Officer of the company, Dr. Greg Quarles, noted that everyone at the company was thrilled at the continued support from ONR in the development of USP technologies.