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Innovotech ( (TSE:IOT) ) just unveiled an update.
Innovotech Inc. has successfully closed a $200,000 convertible debenture, which will be used to enhance its analytical services through its subsidiary, Keystone Labs Inc. This investment aims to expand the company’s capabilities in hazardous drug testing and analytical services, positioning Innovotech strategically in the health product commercialization and pharmaceutical markets. The transaction, involving a related party, is exempt from certain regulatory requirements due to its size relative to Innovotech’s market capitalization.
More about Innovotech
Innovotech Inc. is a Canadian technology company engaged in specialized laboratory services, biotechnology, and proprietary intellectual property. It operates through subsidiaries like Innovotech Labs Corporation, which offers antimicrobial testing devices and solutions, and Keystone Labs Inc., a DEL-accredited lab serving the pharmaceutical industry. Innovotech also holds a majority stake in NouLifeSciences Inc., focusing on antioxidant molecules for cosmetics and medical applications.
Average Trading Volume: 27,727
Technical Sentiment Signal: Strong Buy
Current Market Cap: C$12.1M
For an in-depth examination of IOT stock, go to TipRanks’ Overview page.