Pantheon Resources clears debt repayment ahead of Megrez-1 news
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Pantheon Resources has issued 9.1 million new shares to raise $2.622 million, clearing its convertible debt ahead of news from its Megrez-1 well. The shares were issued at a 10% discount to the preceding 10-day average.
November 19, 2024 | 3:15 pm
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Pantheon Resources issued 9.1 million new shares to raise $2.622 million, clearing its convertible debt. This move comes ahead of potential news from its Megrez-1 well.
The issuance of new shares to clear debt is a positive financial move, reducing liabilities and potentially improving investor confidence. The anticipation of news from the Megrez-1 well could further impact the stock positively.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90