Power Metallic (TSXV: PNPN) (OTC: PNPNF) Concludes C$50 Million Private Placement: Stock In Focus
As the trading week comes to an end this morning, many investors would look to end it by tracking stocks that may end up with gains, and it remains to be seen if the Power Metallic Mines Inc. (TSXV: PNPN) (OTC: PNPNF) stock ends up being one of those. Yesterday, the company was in significant focus in light of its private placement.
$50 Million Capital Raise
In the news release from the company, it was revealed that it had successfully closed its best efforts private placement offering and managed to generate gross to the tune of C$49999800. In that offering, Power Metallic Mines issued 14135000 flow-through shares for C$2.83 each and 6895000 non-flow-through shares for the price of C$1.45 each. The company also revealed that Hannam & Partners and BMO Capital Markets had acted as the joint book runners and co-lead agents for the offering.
Further Information
In this regard, it should be noted that in exchange for the services provided by the two co-lead agents, the company paid cash commission to the tune of C$2499990. Power Metallic Mines stated that the new capital will be used for the purpose of accelerating its exploration activities significantly.
Technicals
| +/- EMA(20) | 1.11 (-2.70%) |
| +/- SMA(50) | 0.89 (+21.35%) |
| +/- SMA(200) | 0.61 (+77.05%) |
| 5-Day Perf. | -13.6% |
| 1-Month Perf. | +30.92% |
| 3-Month Perf. | +96.36% |
| 6-Month Perf. | +150.58% |
| YTD Perf. | +47.95% |
| 1-Year Perf. | +533.8% |
| RSI(14) | 50.81 |
| ATR(14) | 1.1 |
| ADX(14) | 80.7 |
| Beta (5Y) | 12.71 |
