Following significant developments on Monday, NUGL Inc (OTCMKTS:NUGL) saw its stock soar as investors piled on to it and end the day with gains of as much as 25% as a consequence. The company announced yesterday that it accepted the resignations of Curtis J Melone, Interim Chief Financial Officer, Director and Chief Operating Officer and Brandon Vargas, a member of the company’s board.
On Monday, NUGL stock rose 25% to $0.0175 with more than 7.76K shares, compared to its average volume of 34.99K shares. The stock moved within a range of $0.0175 – 0.0200 after opening trade at $0.0175.
NUGL Announces Restructuring and Departure of Officers
The resignations in question went into effect on December 12, 2022. However, NUGL was quick to add in its announcement yesterday that the resignations from the two individuals were not related to any disagreements with the company’s policies, business practices, policies or other things.
In addition to that, it was announced by NUGL that Bali Vaswani, who is the Founder of the firm Kaya, would continue to serve as the Chief Executive Officer and a member of the board of directors of NUGL. NUGL is best known for operating a business directory for cannabis.
The company offers a search app that provides unbiased information for both consumers as well as businesses. The company’s app is known for blending seamlessly with the both the print and digital magazines. It may be a good time to keep an eye on further developments at NUGL.