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Argentina Lithium & Energy Corp (OTCMKTS:PNXLF) Stock Falls After The News

Madison Hall , , , ,

This morning investors are likely to keep an eye on the Argentina Lithium & Energy Corp (OTCMKTS:PNXLF) stock after it declined by as much as 6% on Friday. In this context, it might be the right time for investors to take a look at the announcement made by the company on Friday.

Market Stats

On Friday, PNXLF stock fell 6.30% at $0.37 with more than 117K shares, compared to its average volume of 247k shares. The stock has moved within a range of $0.3600 – 0.4170 after opening trading at $0.4170.

Argentina Lithium Increases Non-Brokered Private Placement and Closes 2nd Tranche

Argentina Lithium & Energy announced at the time that it had decided to raise the size of its private placement owing to high demand from investors. Back on November 1, 2021 the company ahd announced that it was going to make a private placement worth as much as $4,950,000.

This past Friday, Argentina Lithium & Energy announced that it had decided to raise the size of the offering to $6,750,000. In this private offering, the company is going to make an offering of as many as 15 million units in the company and each unit is going to be priced at $0.45 each. In addition to that, Argentina Lithium & Energy also announced that it had managed to close the 2nd tranche of the private placement by using as many as 4996333 units. It now remains to be seen if the stock can recover this week.

Madison Hall

After graduating from the University of Buffalo, Madison gained a real interest in the markets. She tends to be a swing trader and enjoys Pilates and yoga in her downtime.