Pontus Protein Ltd (OTCMKTS:HLKKF) Stock Sees Selling Pressure At Higher Level

It has been tough time in the market over the course of the past month for investors in the Pontus Protein Ltd (OTCMKTS:HLKKF) stock considering the fact that it has tanked by as much as 11% during the period. When a stock tanks by such a degree it is necessary for investors to work out if the slide is going to continue or if there is any chance of a quick rebound.

Market Stats

On Thursday, HLKKF stock ended flat at $0.1072 with 10K shares, compared to its average volume of 2.7K shares. The stock has moved within a range of $0.1072 – 0.1072 after opening trading at $0.0172.

Pontus Protein Closes Debt Settlement

The company made an announcement yesterday in relation to the press release it had sent out on January 1, 2022. In that release, it was noted that Pontus Protein had received the much needed approval from the TSX Venture Exchange in relation to the settlement of its debts to the tune of as much as $66,197 by way of issuing fresh common shares.

In order to settle that debt, the company offered as many as 413,731 common shares and priced it at $0.16 a share. Additionally, it ought to be noted that the shares that had been issued by Pontus Protein are supposed to be held for four months and one day since the day of issuance. It remains to be seen if the stock have a rebound any time soon.