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Cannibble Food-Tech Ltd. ( (TSE:PLCN) ) has shared an update.
Cannibble Food-Tech Ltd. has successfully completed a private placement of convertible notes and warrants, raising US$112,000 to settle outstanding supplier debts. The convertible notes, bearing a 15% annual interest rate, are set to mature in 12 months and can be converted into common shares, while the warrants are exercisable over five years. This financial maneuver is poised to strengthen Cannibble’s financial position, potentially enhancing its market presence and operational capacity without incurring broker fees or related party transactions.
Spark’s Take on TSE:PLCN Stock
According to Spark, TipRanks’ AI Analyst, TSE:PLCN is a Underperform.
Cannibble Food-Tech Ltd. faces substantial financial challenges, with declining revenues and negative cash flows significantly impacting its stability. Despite positive technical momentum, overbought signals warrant caution. The lack of valuation metrics further complicates the investment case, making the stock a high-risk proposition.
To see Spark’s full report on TSE:PLCN stock, click here.
More about Cannibble Food-Tech Ltd.
Cannibble Food-Tech Ltd. is an innovative food tech company that develops food and beverage products enhanced with alternative proteins. Their proprietary powder-based formulas cater to the ‘Better-for-You’ segment, offering products that are sugar-free, dairy-free, plant-based, non-GMO, and keto-friendly, marketed under the brand name ‘The Pelicann ™’.
Average Trading Volume: 19,501
Technical Sentiment Signal: Sell
See more data about PLCN stock on TipRanks’ Stock Analysis page.