The beverage sector has continued to be one of the more popular sectors in the past few years, and one of the companies from the sector that could be worth tracking is Golden Grail Technology Corp. (OTC: GOGY). This past Friday the company had come into the news cycle after issuing a clarification with regards to an acquisition.
Clarification
On December 11, the company had announced that it was on the verge of getting into an acquisition agreement with the Nevada Corporation UPDC Beverages (United Product Development Corporation Beverages). In this context, Golden Grail Technology Corp announced on December 27 that it aimed to enter into a definitive asset purchase agreement in order to integrate the operational assets of the target entity. UPDC would not be operated in the form of a fully owned subsidiary unit of the company; it was further clarified.
Further Information
It was noted that the company had decided that it was going to be the best course of action, all things considered. The Golden Grail Technology Corp legal team was involved in the finalization of the draft of the asset purchase agreement. All the final agreements are expected to be in place for the two parties to seal the deal in 2025.
Key Quote
Mr. Scott Lomo, GOGY CEO, states, “The company has made the decision that the best course of action is to acquire the operational assets of UPDC Beverages. Our legal team is currently finalizing the draft of an Asset Purchase Agreement (and related ancillary exhibits) and expects to have the final agreements in place for execution by all interested parties in 2025. Again, this initial transaction under our new management team is part of our recently announced new business focus of the company.”
Technicals
| +/- EMA(20) | 0.0352 (+5.11%) |
| +/- SMA(50) | 0.0373 (-0.80%) |
| +/- SMA(200) | 0.0905 (-59.12%) |
| 5-Day Perf. | +33.57% |
| 1-Month Perf. | -7.5% |
| 3-Month Perf. | -1.33% |
| 6-Month Perf. | -66.36% |
| YTD Perf. | -88.44% |
| 1-Year Perf. | -88.44% |
| RSI(14) | 51.1 |
| ATR(14) | 0.01 |
| ADX(14) | 21.89 |
