Shares of Radient Technologies Inc. (TSXV:RTI) have surged more than 340% in the past six months, hitting an all-time high of $2.28 on January 9
SmallCapPower | January 12, 2018: Radient Technologies Inc. (TSXV:RTI) shares climbed 16% on Tuesday after the Company provided an update on its operations and 2018 growth initiatives. Along with corporate updates, Radient Technologies announced real estate expansion program, which will add an additional 80,000 sq. ft. facility complementing its existing industrial scale MAP facility. As part of this initiative, Radient will increase its real estate footprint by acquiring 100% interest in 1631807 Alberta Ltd, a joint venture company between Radient and 1396730 Alberta Ltd. (owned by the Amnor Group). The JV owns the land and building that contains the 20,000-sq. ft. manufacturing facility in Edmonton, Canada operated by Radient Technologies, which is fully GMP compliant with a pending ACMPR license expected to be issued by Health Canada later this year. In addition, Radient Technologies expects to acquire two additional adjacent parcels of land from the Amnor Group to permit future expansion.
In addition to the above real estate expansion program, Radient Technologies provided the following corporate updates:
Radient Technologies also gave an update on the status of its ongoing license applications. The Company currently has three license applications, which include Dealer’s License for its Research and Development site, ACMPR Production License and Dealer’s License for its Facility. All the three licenses are under process with no regulatory issues.
Radient’s shares have surged more than 340% in the past six months, hitting an all-time high of $2.28 on January 9, 2018. Radient Technologies currently trades at a Price to Book ratio of 55.56x.
Disclosure: Neither the author nor his/her family own shares in the company mentioned above.
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