Despite the selloff in its stock over the past week, the CAVU Mining Corp (OTCMKTS:CAVVF) stock could come into the focus of investors this morning in light of the announcement from the company yesterday. The stock is actually down by as much as 3% over the course of the past week.
Trading Data
On Thursday, CAVVF stock ended flat at $0.3152 with more than 4.7k shares, compared to its average volume of 22k shares. The stock has moved within a range of $0.3152 – 0.3152 after opening trade at $0.3152.
CAVU Mining Increases Financing to $3,000,000
On Thursday, the company announced that it had raised the size of its private placement to $3,000,000 from $2,000,000. The private placement, which is of a non-brokered nature, had actually been announced last month on November 8. In this placement, CAVU Mining is going to issue as many as 7500000 units in the company for the price of C$0.40 each.
The act of raising the size of the offering is a significant development for the company and something that investors ought to keep in mind when considering the CAVU stock. In addition to that, it is also necessary to keep in mind that the company has also changed the warrant terms. Now, each unit in the offering is going to be made up of one common share in CAVU Mining and one complete share purchase warrant. It will be interesting to see if the CAVU Mining stock makes an upward move today or not.
