Geometry Dash APK Hill Climb Racing APK
76.2 F
New York
Tuesday, September 21, 2021

Innocap Inc (OTCMKTS:INNO) Stock Hits New High: Completes Unique Reverse Merger & Financing

Must read

Medmen Enterprises Inc (OTCMKTS:MMNFF) Pulls Back From Highs as Buzz Cools Off

Among the sectors which have bounced back in 2021, the cannabis sector is one of considerable interest since it had been in...

VirtualArmour International Inc (OTCMKTS:VTLR) Jumps Another 250% This Week

Not every move in the stock market can always be explained and hence, investors are often rightly confused when a stock records...

Ozop Energy Solutions Inc (OZSC) is Riding a Green Wave of Momentum

Investors who are looking for fresh opportunities in rising stocks may have a lot to choose from at this point but it...

Drone Delivery Canada Corp (OTCMKTS:TAKOF) is Soaring after Roadmap Update

The drone industry has grown at a remarkable rate over the past five years or so and hence, it is no surprise...

The market recovered somewhat on Thursday, but one of the stocks that caught the eye was that of Innocap Inc (OTCMKTS:INNO). INNO is rallying higher and went up by as much as 107% on the back of a major announcement.

Unique Logistics Holdings, Inc. announced that it became a publicly-traded company on the back of the successful completion of a reverse merger with Innocap Inc.

Major Triggers

Innocap is a publicly-traded company in its own right and the transaction in question had actually been completed back on October 8. The company aims to apply for symbol and name change as well in the coming days.

Unique is involved in the freight forwarding and global logistical space and primarily serves the United States market. In addition to the completion of the reverse merger with Innocap, Unique also closed a financing deal worth $2 million.

The company revealed that financing is going to be used for further growth. It is a significant development for Unique and the reaction in the market with regards to the reverse merger announcement did not come as a complete surprise. It remains to be seen if the stock can continue to add to its gains today.

Financing Details

The $2 million financings were raised through security purchase agreements with its investors. Unique Logistics Holdings, Inc. sold 10% of the subordinated convertible promissory notes to accomplish this move and banked gross proceeds of $2 million.

According to the new Chief Executive Officer of Innocap, Sunandan Ray, the public listing is a major milestone for the simple reason that the company is now going to give Unique a far greater exposure to fresh capital. That in turn will help the company in funding its growth efforts.

In this regard, it should also be noted that the rally had started in Innocap when it was announced that it had filed on 8K with the view of completing a reverse merger with Unique.

Latest article

88 Energy Ltd (OTCMKTS:EEENF) Stock Surges 40% But Can’t Hold Gains

The oil and gas company 88 Energy Ltd (OTCMKTS:EEENF) seems to have come back on to the radars of investors over the...

Net Savings Link Inc (OTCMKTS:NSAV) Stock is Getting Pummeled Again

Nowadays there are plenty of options for investors when it comes to making investments in the cryptocurrency and...

Net Savings Link Inc (OTCMKTS:NSAV) Goes Parabolic Ahead of Important Event

As far as cryptocurrency and blockchain companies are concerned, there are many options nowadays for investors to explore.

Dark Pulse Inc (OTCMKTS:DPLS) Stock Moves in a Range After The Big Rally

The laser sensing system company Dark Pulse Inc (OTCMKTS:DPLS) has emerged as one of the major gainers over the course of the...

Halberd Corporation (OTCMKTS:HALB) Stock Doubles After ‘Proof of Concept’ News

Investors are always on the lookout for stocks which managed to record handsome gains over a short of period of time and...
Şehirler arası nakliyat ve Şehirler arası taşımacılık konusunda en uygun fiyatlar ve en kaliteli hizmet.
ofis taşıma firmaları ve ofis taşıma konusunda en uygun fiyatlar ve en kaliteli hizmet. Affordable best sms verification service