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Innovotech ( (TSE:IOT) ) just unveiled an announcement.
Innovotech Inc. has successfully exited its investment in a privately-held Canadian company, receiving US$402,926 from the sale of 120,000 shares. This transaction, which originated from a convertible debenture assigned by Lonsdale Capital Corporation, provides Innovotech with capital to further its plans for profitable growth and technology development. The move is expected to bolster Innovotech’s operational capabilities and enhance its industry positioning, as highlighted by CEO Craig Milne’s acknowledgment of the strategic milestone.
More about Innovotech
Innovotech Inc. is a diversified Canadian technology company engaged in specialized laboratory services, biotechnology, and proprietary intellectual property. It operates several subsidiaries, including Innovotech Labs Corporation, which provides antimicrobial testing devices and solutions, and Keystone Labs Inc., a DEL-accredited lab serving the Canadian pharmaceutical and industrial markets. Innovotech also holds a majority stake in NouLifeSciences Inc., focusing on antioxidant molecules for cosmetics and medical applications.
Average Trading Volume: 98,319
Technical Sentiment Signal: Buy
Current Market Cap: C$14.97M
See more insights into IOT stock on TipRanks’ Stock Analysis page.