Investors often seek opportunities in specific stock categories that can potentially yield significant gains when chosen wisely. One such category to consider is sub-penny stocks. In this feature, we'll take a closer look at four penny stock companies that could be valuable additions to your watchlist.
American Battery Metals Inc. (OTC: BLTH) is a U.S.-based environmentally responsible company specializing in critical mineral exploration and development, particularly direct lithium extraction (DLE) and other essential minerals. The company's focus lies in processing, refining, and distributing these metals to meet the increasing demand for critical minerals in the United States, which plays a pivotal role in the nation's long-term energy transition and global energy landscape.
An important development for BLTH occurred on June 2, 2023, when the company announced a definitive merger agreement with the publicly traded special purpose acquisition company Seaport Global Acquisition II Corp. (NASDAQ: SGII). Under this agreement, American Battery Metals became a wholly-owned subsidiary of Seaport Global Acquisition II. Shareholders of American Battery Metals are set to receive equity valued at $160 million in Seaport Global Acquisition as part of this transaction, a move endorsed unanimously by both boards.
The merger will create a combined entity with an enterprise value of approximately $225 million. Existing American Battery Metals shareholders will have the opportunity to retain a 70% stake in the new company by rolling over their equity.
Sebastian Lux, Co-Chief Executive Officer of ABM, highlighted the growing demand for lithium, emphasizing that the U.S. currently produces less than 5% of the world's lithium. Lux added that the merger with SGII and listing on Nasdaq will accelerate their lithium and critical mineral extraction projects, aligning with the global shift toward electrification.
David Graber, ABM's Co-CEO and Chairman, expressed the importance of this merger, stating it would provide access to essential capital to advance their lithium initiatives significantly. The move positions ABM for substantial growth in the lithium sector.
The merger is anticipated to close in the fourth quarter of 2023, subject to stockholder approval and customary conditions. American Battery Metals also holds 102 federal mining claims in Utah, spanning 2,040 acres of federal land, which includes seven wells.
Furthermore, on July 24, 2023, American Battery Metals announced the acquisition and staking of additional lithium claims adjacent to its Lisbon Valley Project. This expansion increased ABM's strategic land position to approximately 14,300 acres, more than seven times its previous size.
This strategic move followed the release of a Technical Report Summary on American Battery Metals' Lisbon Valley Project, emphasizing the substantial lithium deposits in the area and the potential for direct lithium extraction. These new claims have already been registered with the Bureau of Land Management, bringing ABM's total placer claims to 743 over 14,320 acres.
With the merger nearing completion, BLTH may experience interesting developments, making it a stock to closely monitor.
Greene Concepts Inc. (OTC: INKW) is involved in providing healthy beverages of premium quality that not only take care of the nutritional needs of its customer base but also refresh their minds and bodies.
On September 14, Greene Concepts Inc. announced more information about the source location of its premium-quality BE WATER bottled water brand. The company announced that the product originated in the Blue Ridge Mountains of North Carolina, which lie in the Pisgah National Forest. The Pisgah National Forest is a 500-acre expanse of untouched land that is the source of the purest natural spring water in the world. The bottling plant for BE WATER is situated in North Cove, a small community situated on the outskirts of the city of Marion, North Carolina. Unlike other brands of water, BE WATER Artesian Spring water is filtered organically and then delivered to the surface of a rare aquifer that had developed naturally during the Ice Age.
Lenny Greene, Greene Concepts CEO, notes, "We take pride that BE WATER stands apart from other brands with its clean and refreshing taste, its durable packaging, and the quality look and values depicted on our packaging. BE WATER fully meets the required bottled water safety standards from the U.S. Food and Drug Administration (FDA)."
Greene Concepts also revealed that since the product is collected, controlled, and bottled at the source of its origins, the company does not have to depend on the services of third-party bottlers. That gives the company the distinct advantage of having higher control over the quality of the product. Greene Concepts is in charge of all aspects of the product's manufacturing, from its beginning in the springs to its shipping.
The company claimed that the manufacturing process also helped keep the bottled water refreshing and at its highest level in terms of quality. Water provides considerable benefits, and some of those include positive effects on bone strength, brain function, overall energy, and joint health. The company has been successful in progressively gaining better national sales traction for BEWATER.
InnerScope Hearing Technologies Inc. (OTC:INND) is a hearing aids, hearing aid accessories, and hearing health-related products manufacturer and distributor, focused on meeting the demand for affordable hearing solutions. The addressable market for InnerScope Hearing Technologies Inc. stands at 70 million people in the United States and 1.5 billion at an international level.
The company follows a B2B distribution model and offers its OTC hearing products through pharmacy chains, big-box retailers, and healthcare service firms. Such a model helps break through some of the challenges that make it difficult for consumers to access affordable and effective hearing solutions. The company managed to make significant penetration into the market and also cornered shelf space with some of the biggest retailers.
The bipartisan over-the-counter hearing aid legislation came as a major boost for InnerScope Hearing Technologies. The legislation allowed hearing-impaired people to buy hearing aids from major retailers and national pharmacy chains without a prescription. The legislation helped InnerScope Hearing Technologies gain access to more than 10,000 independent pharmacies across the nation. Another major factor that investors ought to know about is the fact that the company is operating in a market in which the number of competitors stands at fewer than five.
Digital Locations Inc. (OTC: DLOC) is involved in the development of disruptive technology that would enable the delivery of high-speed internet directly to smart phones across the world from satellites. At this point, broadband is only available to people who reside in areas with high population densities. The company claims that it presented an immense business opportunity.
Digital Locations is currently working with a team of researchers from Florida International University to develop the technology. The company aims to provide the service to anyone located in any corner of the world at any time, regardless of race, gender, or economic status. It will also allow people to access high-speed internet in areas that may not be served by mobile internet. Additionally, it would also open up a world of opportunities in education, healthcare, government services, and remote work, among others.
On September 12, Digital Locations Inc. announced that it had entered into an equity financing agreement with the firm GHS Investments LLC. As per the provisions of the agreement, GHS would pick up registered common stock in the company worth a maximum of $10 million in aggregate. However, Digital Locations would be the only party to determine both the amounts and the timing of the purchases. It is an equity credit line, and the proceeds will be used to advance the company's disruptive technology.
GHS is a private management and investment group that provides financial solutions to small-cap companies with significant potential. The fine print regarding the terms and conditions of GHS's investment commitment was detailed in the 8-K that Digital Locations filed with the United States Securities and Exchange Commission.
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