The beverage industry continues to be one of the more popular niches for investors at this point and a company from the sector which could be worth tracking this morning is Golden Grail Technology Corp (OTC: GOGY). On Thursday, the company had been in the news cycle after it made a key new announcement. Let’s take a closer look in this feature.
The Update
The company, which is well known for its innovative offerings, announced yesterday that it had terminated the asset purchase agreement with UPDC Beverages (United Product Development Corporation). The deal had been announced in a news release by Golden Grail Technology Corp previously on December 11, 2024. Later on, the structure of the transaction was also changed to an asset purchase structure on December 27, 2024. However, the company eventually decided that it would not be moving forwards with the transaction.
The Reasons
In the news release yesterday Golden Grail Technology Corp announced that after having evaluated and considered all the different angles, the two parties involved had decided to cancel the transaction. It was also noted that at the time it was not in the best interests of the company’s shareholders to move ahead.
Key Quote
“While we continue to believe in our strategic growth initiatives, we have determined that proceeding with this transaction is not in the best interests of our shareholders at this time,” said Scott Lomu, CEO of Golden Grail Beverages. “We remain committed to pursuing strategic opportunities that align with our core business objectives and create value for our stakeholders.”
Traders Notes
| +/- EMA(20) | 0.0358 (+3.07%) |
| +/- SMA(50) | 0.0357 (+3.36%) |
| +/- SMA(200) | 0.0608 (-39.31%) |
| 5-Day Perf. | +5.43% |
| 1-Month Perf. | -8.89% |
| 3-Month Perf. | -14.98% |
| 6-Month Perf. | -15.17% |
| YTD Perf. | -0.27% |
| 1-Year Perf. | -86.33% |
| RSI(14) | 52.15 |
| ATR(14) | 0.01 |
| ADX(14) | 9 |
