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Freedom Battery Metals, Inc. ( (TSE:RFLX) ) has provided an update.
Reflex Advanced Materials Corp. has closed a non-brokered private placement, raising C$199,925 through the sale of units priced at C$0.175, each consisting of one common share and a warrant exercisable at C$0.23 for 24 months. The company plans to use the net proceeds for working capital and general corporate purposes, with all securities subject to a four-month-plus-one-day hold period, providing modest but useful funding support for its ongoing operations and strategic focus on the advanced materials and strategic metals space.
The most recent analyst rating on (TSE:RFLX) stock is a Hold with a C$0.29 price target. To see the full list of analyst forecasts on Freedom Battery Metals, Inc. stock, see the TSE:RFLX Stock Forecast page.
Spark’s Take on TSE:RFLX Stock
According to Spark, TipRanks’ AI Analyst, TSE:RFLX is a Neutral.
The score is primarily held down by weak financial performance: no revenue, ongoing losses, negative free cash flow, and a balance sheet that has deteriorated to negative equity. Technicals are a partial offset with strong trend/momentum above key moving averages and positive MACD, but extremely overbought RSI/Stochastic increases near-term pullback risk. Valuation provides limited support due to negative earnings and no stated dividend yield.
To see Spark’s full report on TSE:RFLX stock, click here.
More about Freedom Battery Metals, Inc.
Reflex Advanced Materials Corp. is a British Columbia-based mineral exploration company focused on locating and potentially developing economic mineral properties in the strategic metals and advanced materials sector. The company aims to enhance domestic specialty mineral infrastructure to support growing demand from North American manufacturers.
Average Trading Volume: 24,091
Technical Sentiment Signal: Hold
Current Market Cap: C$1.83M
See more data about RFLX stock on TipRanks’ Stock Analysis page.