The penny stock category of stocks has always been a veritable treasure trove for enterprising investors. The right pick can sometimes create fortunes, but it requires diligent research. This feature would provide you with a look into some of the penny stocks that have come into focus in recent days.
Canadian Palladium Resources Inc. (OTC:DCNNF) The company announced on September 15 that it had managed to go into a debt settlement agreement with non-arm’s length and arm’s length creditors and consultants. Canadian Palladium Resources Inc. announced that, as per the agreement, it would settle as much as $1,513,814 out of its outstanding debt load.
The company would settle the debt through the issuance of 30,276,280 common shares with a deemed price of $0.05 each. The company announced that it had issued as many as 500,000 common shares to the firm Pavey Ark Minerals Inc. as per the option agreement by way of which Pavey Ark would complete the acquisition of 100% interest in the East Bull palladium-producing property.
The common shares that Canadian Palladium Resources issued for the transaction would be subject to a four-month and one-day hold period following the date of issuance. The company also announced that the shares that it had issued for debt settlement had been classified as a’related party transaction’.
Innocan Pharma Corporation (OTC: INNPF) The pharmaceutical technology firm is a pioneering player in its field and specializes in advanced wellness products. On Friday, Innocan Pharma Corporation announced that it had appointed a new member to its Scientific Advisory Board (SAB) in the form of Dr. Jospeh V. Pergolizzi Jr., MD. The new appointee is a leading light in the pain management space and critical care medication. In his new role, Dr. Pergolizzi would play a major role in the filing that would be made by the company with the United States Food and Drug Administration for human medication.
Dr. Pergolizzi boasts considerable achievements as a business executive, researcher, and clinician. Perhaps more importantly, the company noted in its news release that he also commanded the reputation of being a result-focused C-level executive with a special focus on newly established companies. Dr. Pergolizzi held a number of C-level positions in public as well as private companies during his career. He would offer business expertise, regulatory expertise, and medical expertise to the company.
Nubeva Technologies Ltd. (OTC: NBVAF) This past Friday, the company announced that it had appointed new independent directors to its board of directors in the form of Michael KuoFan Lin and Francis Chan. The Chief Executive Officer and Director of Nubeva Technologies Ltd., Randy Chou, made a statement in the news release.
He welcomed the two new appointees on behalf of the board and went on to note that the two had combined experience of more than half a century in the semiconductor and human resources sectors. He went on to note that the expertise offered by Lin and Chan was in line with the company’s interests in the extraction solutions domain.
Austral Gold Limited (OTC: AGLDF) The noted gold producer announced on September 14 that it had been successful in obtaining a fresh unsecured short-term loan worth $3 million. In the news release, Austral Gold Limited announced that it had obtained the loan from its biggest shareholder, Inversiones Financieras del Sur SA.
The company revealed that the term of the loan was 6 months and could be repaid earlier. It would carry an annual interest rate of 9% and could only be used for working capital purposes. The agreement also stipulated other conditions, which are standard for loans of this nature.
