Nu-Med Plus Pivots to Gold Exploration with Avid Gold Acquisition, Issuing 4.5M Preferred Shares
NUMD sits 46% above its 52-week low of $0.008 on light trading volume (0.2× avg).
Summary
Nu-Med Plus, facing imminent collapse and auditor going concern doubts, is executing a major business pivot by acquiring Avid Gold and six Canadian gold properties. This strategic shift into gold exploration and development involves issuing 4.5 million Series A Preferred shares for Avid Gold and an additional 500,000 preferred shares for the Canadian properties. The company also plans a 1-for-27 reverse stock split and an increase in authorized shares, reflecting its severe financial distress and the highly dilutive nature of this last-ditch effort to survive. This follows an 8-K filed minutes earlier and comes as the company's cash reserves were projected to last only until today, June 30, 2026. The Avid Gold acquisition is required to close by July 8, 2026.
At the time of this announcement, NUMD was trading at $0.01 on OTC in the Energy & Transportation sector, with a market capitalization of approximately $915K. 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 9 out of 10. Source: Wiseek News.