The Top 3 competitors for this month’s Stock Challenge managed to edge higher today before securing their gains for the weekend; member ‘iram53’ remains in first place with a return of 65.12%, ‘Andrea Mannell’ in second with a return of 51.95%, and ‘Messenger7’ in third with a return of 29.14%. It will be interesting to see how Week 3 progresses, given the calibre of Stock Challenge talent currently in the Top 10…
Theralase Technologies Inc. Rises As BTU Metals Corp. Falls
Theralase® Technologies—a clinical stage pharmaceutical company dedicated to the research and development of light activated Photo Dynamic Compounds and their associated drug formulations intended to safely and effectively destroy various cancers—rose 13.79% from C$0.29 to C$0.33 today, making it Stock Challenge’s biggest stock breakout of the day.
At the beginning of August, Theralase announced the pricing of its prospectus offering.
“. . . The Offering will be conducted at a price of $0.30 per unit of the Company (a “Unit”) for minimum gross proceeds of $7,500,000 and maximum gross proceeds of $15,000,000 (the “Offering”).
Each Unit will be comprised of one common share of the Company (the “Common Shares”) and one common share purchase warrant (the “Warrants”). Each Warrant shall be exercisable to acquire one Common Share at a price of $0.35, for a period of 60 months from the closing of the Offering.”
BTU Metals, a Canadian-based junior exploration company, suffered the biggest Stock Challenge breakdown of the day after falling 13.64% from C$0.11 to C$0.10. The company’s share price has come under pressure after news broke last week that BTU Metals insider Ryan Kalt had sold shares in the company.
“Mr. Kalt, through Kalt Industries Ltd., disposed of an aggregate of 1,467,000 common shares of the Company through sales on the TSX Venture Exchange between July 30, 2019 and August 7, 2019. Mr. Kalt received an aggregate of approximately $172,665.90 through the sales of the shares, representing an average sale price of $0.1177 per share. The shares sold by Mr. Kalt represent approximately 2.20% of the issued and outstanding common shares of the Company.”
Week 3 of the August 2019 Stock Challenge Is Just Ahead!
Enjoy your weekend Stock Challengers, and remember—it’s always best to sign up for a Stock Challenge in advance, as there’s no way to join in on the action late!