Eco Ventures Group Inc (OTC:EVGI) finished yesterday’s session up 13.85%, riding some promotions and the excitement over funding.
EVGI closed at $0.74 per share, and the volume of nearly 960 thousand was a new high for the company which started trading late last month.[BANNER]
The company issued a PR after the market close on Monday, and yesterday the session started with a huge gap up. It took only about 15 minutes for the price drop back closer to yesterday’s close, but trading continued throughout the day.
The PR says EVGI has received a “Firm Letter of Commitment” from an unnamed private funding group. The amount of the funding is $15.3 million in the form of a three-year loan. The financing will be completed in three tranches, the first of which will be approximately $6.5 million on or about Sept. 22.
In addition to the PR EVGI was promoted yet again. “This financing when completed will allow us to accelerate our growth and continue on the execution of our business plan,” said Randall Lanham, CEO of EVGI.
The market reacted in a positive way, but until traders can see some results EVGI may have to rely on promotions.
