Pangea Natural Foods Secures $500,000 Through Private Placement and Debt Settlement

Pangea Natural Food, Inc. ( (TSE:PNGA) ) has issued an update.

Pangea Natural Foods Inc. has successfully completed a private placement generating $500,000 in gross proceeds, as well as a debt settlement that involved issuing 20 million common shares at $0.025 each, effectively settling $500,000 in outstanding debt. These financial maneuvers are expected to provide the company with necessary working capital and enable it to focus on general corporate purposes, potentially strengthening its financial stability and operational capacity.

More about Pangea Natural Food, Inc.

Pangea Natural Foods Inc. operates in the health food industry, focusing on manufacturing and co-packing health food products. The company is involved in providing nutritious food options with a market focus on health-conscious consumers.

YTD Price Performance: 50.0%

Average Trading Volume: 50,612

Technical Sentiment Consensus Rating: Hold

Current Market Cap: C$1.78M

For a thorough assessment of PNGA stock, go to TipRanks’ Stock Analysis page.