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The latest update is out from Cannibble Food-Tech Ltd. ( (TSE:PLCN) ).
Cannibble Food-Tech Ltd. has announced a private placement of convertible notes and warrants, aiming to raise up to US$250,000. The funds will be used to settle outstanding debts and for working capital. The convertible notes bear a 15% annual interest and can be converted into common shares, with warrants exercisable at a set price for five years. This strategic financial move is expected to strengthen Cannibble’s financial position, enabling it to continue its operations and potentially improve its market standing.
Spark’s Take on TSE:PLCN Stock
According to Spark, TipRanks’ AI Analyst, TSE:PLCN is a Underperform.
Cannibble Food-Tech Ltd. faces substantial financial challenges, with declining revenues and negative cash flows significantly impacting its stability. Despite positive technical momentum, overbought signals warrant caution. The lack of valuation metrics further complicates the investment case, making the stock a high-risk proposition.
To see Spark’s full report on TSE:PLCN stock, click here.
More about Cannibble Food-Tech Ltd.
Cannibble Food-Tech Ltd. is an innovative company in the food tech industry, specializing in the development of food and beverage products enhanced with alternative proteins. Their proprietary powder-based formulas cater to the ‘Better-for-You’ market segment, offering products that are sugar-free, dairy-free, plant-based, non-GMO, and keto-friendly, marketed under the brand name ‘The Pelicann™’.
Average Trading Volume: 7,629
Technical Sentiment Signal: Sell
See more data about PLCN stock on TipRanks’ Stock Analysis page.