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An update from Magnum Goldcorp ( (TSE:MGI) ) is now available.
Magnum Goldcorp Inc., a company trading under the symbol TSX-V: MGI, has announced that it has entered into agreements to settle debts amounting to $118,301.49 by issuing 2,366,030 common shares at a value of $0.05 per share. This debt settlement is subject to approval by the TSX Venture Exchange and the shares will have a statutory four-month hold period. This move is likely aimed at improving the company’s financial standing by reducing its debt obligations through equity issuance.
More about Magnum Goldcorp
YTD Price Performance: -12.50%
Average Trading Volume: 25,106
Technical Sentiment Signal: Strong Buy
Current Market Cap: C$337.9K
For detailed information about MGI stock, go to TipRanks’ Stock Analysis page.