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Mijem Newcomm Tech Inc ( (TSE:MJEM) ) has provided an update.
Mijem Newcomm Tech Inc. announced that the Ontario Securities Commission has partially revoked a cease trade order, allowing the company to proceed with a private placement of up to $250,000. This financing aims to address outstanding regulatory fees and operational expenses, helping the company meet its continuous disclosure obligations and maintain business operations. The private placement is structured to ensure no single investor gains significant control, and it is primarily targeted at accredited investors in British Columbia. The Canadian Securities Exchange has conditionally approved the transaction, recognizing the company’s financial hardship and the need for this strategic move.
More about Mijem Newcomm Tech Inc
Mijem Newcomm Tech Inc. operates in the technology sector, focusing on providing innovative communication solutions. The company is listed on the Canadian Securities Exchange under the symbol MJEM.
Technical Sentiment Signal: Hold
For an in-depth examination of MJEM stock, go to TipRanks’ Stock Analysis page.