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Ceylon Graphite ( (TSE:CYL) ) has shared an update.
Ceylon Graphite Corp has announced a share for debt transaction to settle an outstanding debt of $53,776 with its former auditor by issuing 1,792,534 common shares at a price of $0.03 per share. This transaction, subject to TSX Venture Exchange approval, aims to bring the company’s continuous disclosure obligations up to date, following a cease trade order issued due to filing delays. The completion of this transaction is expected to provide Ceylon with the necessary resources to file outstanding documents and apply for a full revocation order, potentially impacting its operational transparency and market positioning.
More about Ceylon Graphite
Ceylon Graphite Corp is a public company listed on the TSX Venture Exchange, engaged in mining graphite and developing innovative graphene and graphite applications. The company focuses on high-grade graphite mined in Sri Lanka, suitable for applications in electric vehicles, battery storage, construction, healthcare, and paints and coatings sectors.
YTD Price Performance: 18.18%
Average Trading Volume: 14,127
Technical Sentiment Signal: Buy
Current Market Cap: $3.12M
See more data about CYL stock on TipRanks’ Stock Analysis page.