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The latest announcement is out from Lexston Life Sciences Corp. ( (TSE:LEXT) ).
Lexston Mining Corporation has entered into a definitive Assignment Agreement to acquire 128 mineral claims at the Garfield Hills Property in Nevada. This acquisition allows Lexston to initiate development plans in the Walker Lane area, known for its high-grade mineralization of copper, gold, and silver. The company will pay $45,000 and issue 1,600,000 shares to 2730573 Alberta Ltd. as part of the agreement, with further cash payments and share issuances totaling $220,000 to earn a 100% interest in the property. The agreement is subject to acceptance by the Canadian Securities Exchange.
Spark’s Take on TSE:LEXT Stock
According to Spark, TipRanks’ AI Analyst, TSE:LEXT is a Underperform.
The company’s stock is rated low due to significant financial challenges, including no revenue and consistent losses. Technical analysis suggests bearish momentum, and the valuation remains unattractive with a negative P/E ratio. While the recent private placement provides some liquidity, it may not be sufficient to address broader financial instability.
To see Spark’s full report on TSE:LEXT stock, click here.
More about Lexston Life Sciences Corp.
Lexston Mining Corporation is a Canadian mineral exploration company focused on acquiring and developing mineral projects to enhance stakeholder value. The company is involved in mineral exploration in British Columbia and trades on the OTCQB Venture Market, catering to early-stage and developing U.S. and international companies.
Average Trading Volume: 79,147
Technical Sentiment Signal: Hold
Current Market Cap: C$4.88M
Find detailed analytics on LEXT stock on TipRanks’ Stock Analysis page.