FluroTech Ltd (OTCMKTS:FLURF) Stock Soars 39%: Here is Why

Stocks which managed to make notable gains on Tuesday are likely to come into considerable focus among investors this morning and one of those stocks could well be that of FluroTech Ltd (OTCMKTS:FLURF).

FluroTech Ltd. Announces Sale of Shares in FluroTest Diagnostic Systems Ltd. and Option Cancellation

FluroTech was in prime focus after it announced that it had gone into a share purchase agreement by way of which it would sell all of its shares to its fully owned subsidiary unit FluroTest Diagnostic Systems Ltd. The news came as a source of considerable optimism for investors and the company’s stock ended up with gains of as much as 39% amidst heavy interest. The sale of the shares would be made to an arm’s length individual.

The individual who would purchase the shares would do so for a cash amount of C$1. It was also announced that the transaction had gone into effect on December 31, 2022. However, that was not all. In addition to that, the company also announced that it had cancelled as many as 3435050 options meant for purchasing common shares in FluroTech under its own stock option plan. Those options had been granted to some of the employees, directors and officers at FluroTech. It remains to be seen if the stock continues to climb today or not.