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The latest update is out from ProAm Explorations ( (TSE:PMX) ).
ProAm Explorations Corporation has completed a shares-for-debt transaction with 0744350 BC Ltd., a company owned by its CEO, Jason Cubitt. This transaction extinguishes $50,000 of debt through the issuance of 1,000,000 common shares, valued at $0.05 per share. The transaction is classified as a related party transaction but falls under exemptions due to its size relative to the company’s market capitalization. This move is part of the company’s financial strategy to manage its liabilities and improve its financial standing.
More about ProAm Explorations
ProAm Explorations Corporation operates in the exploration industry, focusing on the development and management of natural resources. The company is involved in petroleum exploration and related services, with a market focus on leveraging strategic partnerships and transactions to enhance its operational capabilities.
Average Trading Volume: 18,000
Technical Sentiment Signal: Sell
Current Market Cap: C$419.9K
For an in-depth examination of PMX stock, go to TipRanks’ Overview page.