Nu-Med Closes Avid Gold Buy, Strikes Deal for 30,900 Acres of Canadian Gold Properties
NUMD has more than doubled off its 52-week low of $0.008.
Summary
Nu-Med Plus has closed its acquisition of Avid Gold, the pivot announced June 30 to escape imminent financial collapse. The company also entered a new agreement to acquire six gold properties spanning 30,900 acres in Atlantic Canada from MegumaGold, subject to shareholder approval. Leadership is now in place: William Hayde moves to Chairman, Fred Tejada joins the board and will lead exploration as Sr. VP & Chief Geologist, following Jeffrey Robins' resignation. This follows the 8-K filed June 30 detailing the Avid Gold deal as a last-ditch survival move—the company had cash only through June 30. The new property agreement and management appointments signal the pivot is advancing, but the MegumaGold deal still needs shareholder approval and other conditions.
At the time of this announcement, NUMD was trading at $0.02 on OTC in the Industrial Applications And Services sector, with a market capitalization of approximately $1.5M. The 52-week trading range was $0.01 to $0.14. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: TMX Newsfile.