There were a number of companies that had been in sharp focus yesterday and one of those was Chilco River Holdings Inc. (OTCMKTS:CRVH). The stock emerged as one of the major gainers on Monday and ended up with gains of as much as 65% amidst heavy interest.
In light of the gains made by Chilco River Holdings stock, it may be a good idea for investors to consider taking a closer look at the recent developments about the company that may have had an impact. The company has a range of interests in both emerging growth spaces and established ones. Yesterday, it came into the news cycle after it provided shareholders as well as other interested parties with an update on the progress that it had made in terms of the next stage of its growth plan.
The Chief Executive Officer of the company, Will Lovett, spoke about the progress made by the company. He described 2023 thus far as bustling’ and went on to note that it had been punctuated with key corporate decisions that were aimed at boosting the company’s reporting as well as transparency.
In the news release, the company also provided a closer look at some of the key milestones that had been achieved for the year so far. Gries& Associates completed the company’s Public Company Accounting Oversight Board (PCOAB) audit. It was a significant development for the company since a PCOAB audit of publicly listed companies leads to accuracy and transparency and also protects the interests of investors.
Additionally, the company also made certain moves for the purpose of an uplisting to the OTCQB of the OTC Markets. The OTCQB is meant for emerging companies in the United States and worldwide. The company revealed that in the upcoming weeks, it would also start work on the application process related to Tier 2 Regulation A status.
The exemption would allow Chilco River Holdings to raise as much as $75 million over the course of a 12-month period. Last but not least, the company also revealed yesterday that its discussion with an iron ore entity was at an advanced stage. The company noted that the entity was known for its iron ore stockpiles, which were ready for sale, and also for its proven reserves.
In March 2023, the company announced that it had completed the acquisition of L. Myers Associates. L. Myers had been in business since 1997 and operated a facility encompassing an area of 20,000 square feet located in Harrisburg, PA. The company also held subcontracting agreements with the states of Pennsylvania and Maryland.
Additionally, L. Myers was also regarded as a major fulfillment and printing house provider in those states. Although the company is known for its government-related business, it is also regarded as a major and established supplier in the hospitality sector. It provides uniforms, apparel, and other products necessary for the hotel industry.