On Monday North Bay Resources Inc (OTCMKTS:NBRI) was one of the companies to have come into the news cycle after it came up with an update for shareholders. The company announced yesterday that due to the fact that 4D Minex Corporation defaulted in the private transaction that had been announced on July 8 last year, the control of the company reverted to the majority shareholders of the Series 1 Preferred shares.
On Monday, NBRI stock ended flat at $0.0003 with more than 5.16 million shares, compared to volume of 17.73 million shares. The stock moved within a range of $0.0003 – 0.0004 after opening trade at $0.0003.
North Bay Resources Inc. (NBRI) Issues Shareholder Update
Those shareholders also represent voting control in the company. Following this particular development, North Bay Resources appointed Perry Leopold as the Chief Executive Officer and President yet again. In addition to that, it was announced by the company that despite the announcement back on July 8 regarding the private transaction shares of no classes had been issued or transferred by North Bay Resources.
Since December 2021 the total shares at North Bay Resources had remained the same. In this situation, it may also be a good idea for investors to consider taking a look at the nature of the company’s operations. North Bay Resources is described as a junior mining company and most of its operations are based out of British Columbia in Canada. It boasts of having 100% ownership of a number of mining properties.