On Thursday, Santo Mining Corp (OTCMKTS:SANP) was in the news after the company made a key announcement but the stock traded within a range.
Market Action:
On Thursday, SANP stock remain unchanged $0.0028 with more than 131.93 million shares, compared to its average volume of 86.10 million shares. The stock has moved within a range of $0.0027 – 0.0030 after opening the trade at $0.0030.
Files Form 1-A For Regulation A Offering With SEC
The vertically integrated cryptocurrency and blockchain company announced yesterday it filed a Form 1 A with the United States Securities and Exchange Commission.
The submission of the form is a precursor for a ‘REG A’ offering and it should be noted that such a thing is a significant development for the company. A public offering is something that is almost always watched closely but investors and it remains to be seen if the stock experiences some action in the coming days.
It has been revealed that as part of the public offering, Santo Mining will be offering as much as $20,000,000 worth of common shares in the company. The price band has been set in the range between $0.005 and $0.01.
However, the final price is going to be decided once qualification is completed. The offering price is going to be revealed by Santo Mining a few days following qualification. At this point in time, investors could do well to keep an eye on the upcoming developments with regards to this public offering.
Traders Note:
SANP stock is trading below the 20-Day and 200-Day Moving averages of $0.0029 and $0.0040 respectively. However, the stock is trading above the 50-Day moving average of $0.0026. The stock is up 47% so far this year.
