CareFree Group Inc (OTCMKTS:CRFU) Raises $1 Million in Equity Capital: Stock Rockets 55%

One stock that you could look into at this point is that of CareFree Group Inc (OTCMKTS:CRFU), which had emerged as one of the biggest movers yesterday and ended up with gains of as much as 55% amidst heavy interest.

Trading Data

On Wednesday, CRFU stock soared 55.36% to $0.30 with more than 16K shares, compared to its average volume of 2.39K shares. The stock moved within a range of $0.1500 – 0.4900 after opening trading at $0.49.

Carefree Group Successfully Raises $1 Million in Equity Capital

The rally in the stock was triggered by a major announcement from the company yesterday. The company announced that it had managed to raise as much as $1 million in the past 90 days by way of a slew of equity investment agreements with a number of private investors. It was a significant announcement from the company and one that clearly led to a wave of optimism among investors.

As per the terms of the agreements that had been signed by the company, CareFree Group issued as many as 4000,000 shares of the common stock for the price of $0.25. The transactions as well as the agreements had also been approved by the Board of Directors at CareFree Group.

It was further noted that the fresh capital was going to be used by CareFree Group for working capital needs and also for general corporate expenses. It may be a good time to add the stock to your watch lists.