XCana Petroleum Corp. (OTCMKTS:XCPT) announced on September 06, 2022, about signing a definitive agreement with Red Beryl Mining Company, Inc. and accredited investors to procure a 2000-acre mining property. The agreement is for 25,000,000 restricted common shares and no cash consideration to be paid to the parties being Red Beryl Mining Company, Inc. & Accredited Investors.
Trading Data
On Tuesday, XCPT stock gained 2.46% to $0.0999 with more than 9.79K shares, compared to its average volume of 17.72K shares. The stock moved within a range of $0.0999 – 0.0999 after opening trade at $0.0999.
XCana Petroleum Corp., Announces Purchase of Service Agreement with Red Beryl Mining Company, Inc.
The objective is to get 100% ownership of a well-documented Nickel Deposit within the United States. The state, county, and exact deposit for this target have already been pinpointed by the Red Beryl Mining team for filing and staking. The location and details of the target is to remain confidential till ownership is secured under the XCana Petroleum Corp name.
According to a recent International Energy Agency report, global battery and minerals supply chains have to grow at least 10 times, in order to fulfill projected critical minerals requirements by 2030. The report also states that the industry has to build 50 more lithium mines, 60 more nickel mines and 17 more cobalt mines by 2030 to meet global net carbon emissions goals.
It is nickel that is facing the largest absolute demand increase by 2030 as high-nickel chemistries are the current dominant cathode for electric vehicles and are expected to remain so. Mac J. Shahsavar, P. Eng. Chairman of the company has said that this agreement completes a trifecta of critical battery metal exploring companies – BrightRock Gold Corp, Xtra Energy Corp, and XCana Petroleum Corp – that will meet the historic demand for minerals like lithium, antimony, and nickel.
Key Quote
Mac J. Shahsavar, P. Eng. Chairman of the Company is quoted in saying, “with this agreement we have completed a trifecta of critical battery metal exploring companies. BrightRock Gold Corp, Xtra Energy Corp, and XCana Petroleum Corp are here to meet this historic demand. Batteries will power the future, and they will need minerals like Lithium, Antimony, and Nickel to make it possible.”
Technical Data
XCPT stock is trading below the 20-Day and 50-Day Moving averages of $0.0566 and $0.0371 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0217.
