Kenergy Scientific Inc.'s (OTCQB: KNSC) stock volume shot through the Stratosphere Apr. 1, with 1,738,416,053 shares changing hands, 37 times its three-month average volume of 47,689,994 shares.
Entry into Marijuana Business Spurs Stock Surge
According to Canadian alternative energy company, its unprecedented surge in stock volume is being fueled by its Mar. 31 announcement that it was entering the marijuana advertising space with a portal that it claims will uniquely service that industry niche.
The launch of the site will follow shortly and will feature current marijuana news advertising space for people in the industry and many medical uses and applications. The portal has been under development for quite some time and is quite elaborate, according to Kenergy Scientific.
The company promised that more details will follow on the alliances being formed relationships and ventures.
On Apr. 1, KNSC's share price closed at 0.0015 cents, up 0.0009 cents from the share price of 0.0006 cents the previous day.
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Tauriga Sciences Inc. Stock Volume Fueled By News of $800,000 Capital Infusion
In other news, Tauriga Sciences Inc.'s (OTCQB: TAUG) stock volume also soared Apr. 1, with 21,499,249 shares changing hands, 2.4 times its three-month average volume of 9,096,623 shares.
The tremendous surge in stock volume comes on the heels of the Danbury, Conn.-based medical device maker's making two major announcements Mar. 31.
$800,000 Private Placement
The first announcement was the completion of a $800,000 equity private placement at a price of 6 cents per share ("$0.06") to various accredited investors. There were no warrants or registration rights offered in conjunction with this private placement financing. The shares issued pursuant to this private placement are "restricted securities" as defined by Rule 144 of the Securities Act of 1933, as amended.
The proceeds from this financing will be used for working capital purposes and the commercialization efforts of Pilus Energy's microbial fuel technology platform. Tauriga does not anticipate that these proceeds will be needed for the closing of its pending acquisition of Honeywood LLC.
Repays $157,000 Convertible Note
The second announcement was that the company has fully repaid a convertible note held by Group 10 Holdings, LLC for the principal amount of $157,500 USD. On September 30, 2013, Tauriga borrowed $157,500 from Group 10 while the Company was negotiating with Bacterial Robotics LLC to acquire synthetic biology pioneer Pilus Energy LLC.
On Apr. 1, TAUG's share price closed at 0.0852 cents, up 0.0042 cents from the share price of 0.081 cents the previous day.
Enertopia Corp. Raises $182,000 from Stock Warrants
Meanwhile, Enertopia Corp.'s (OTCQB: ENRT) share volume also skyrocketed Apr.1 , with 2.7 million shares changing hands, nearly three times its three-month monthly average of 949,138 shares.
The upsurge in volume is being fueled in part by the Vancouver, BC-based medical marijuana company's Mar. 25 update on its financing plans that are in motion.
Here's an excerpt from the company’s announcement:
Enertopia is also pleased to announce that 1,095,000 warrants have been exercised raising $114,250 and a further 325,000 options have been exercised for $67,750 for total consideration of $182,000 in net proceeds.
"These are exciting times for Enertopia and we look forward to further updates shortly with exceptional opportunities for our company in the Medical Marihuana Business sector," stated President/CEO Robert McAllister.
Any issued shares will be subject to a hold period in Canada of four months and one day, or for any resale into the USA under Rule 144, six months and one day. Subject to certain limitations, such securities may be resold outside the United States without registration under the U.S. Securities Act pursuant to Regulation S under the U.S. Securities Act. These United States resale restrictions will be applicable to all security holders, regardless of jurisdiction of residence.
The securities referred to herein will not be or have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
On Apr. 1, ENRT's share price closed at 71 cents, down 8 cents from its closing price of 79 cents the previous day.
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