Last week on September 1 Mineral Mountain Resources Ltd (OTCMKTS:MNRLF) had been in the news with regards to the closure of a previously announced financing process.
Trading Data
On Friday, MNRLF stock ended flat at $0.0570 with 12.25K shares, compared to volume of 22.21K shares. The stock moved within a range of $0.0570 – 0.0570 after opening trade at $0.0620.
Mineral Mountain Closes Second Tranche Of $7.9 Million Financing
The company announced at the time that it had managed to file the necessary documents to the TSX Venture Exchange for closing the second tranche of its unit financing move. The company noted that the units were going to be offered for $0.07 each and it was going to bring in gross proceeds to the tune of as much as $100,000. Once the whole thing is approved by the exchange, Mineral Mountain would then issue as many as 1,428,582 units.
Each of the units are going to consist of one common share in Mineral Mountain and a solitary share purchase warrant. The warrant holder is going to have the right to another common share in the company for the exercise price of $0.15.
The warrant can be exercised any time up until 6 months from the day of issuance. In light of the latest developments, it is now going to be interesting to see if the company’s stock garners any attention from investors over the coming days or not.
Technical Data
MNRLF stock is trading below the 20-Day and 50-Day Moving averages of $0.0607 and $0.0555 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0891. The company has a total market capitalization of $6.16 million.
