On Friday, Shares of Supertel Hospitality, Inc. (NASDAQ:SPPR), surged 60.73% to $3.07, hitting its highest level.
Supertel Hospitality, declared that it closed on the sale of two Savannah Suites hotels on April 1, 2015. The 172-room Savannah Suites located in Augusta, Georgia, sold for $3.4 million, and the 120-room Savannah Suites in Chamblee, Georgia, sold for $4.4 million. The company applied $4.1 million of the proceeds to the GE Capital mortgage note that matures in December 2015.
On April 13, 2015, Supertel reached a contract to sell two hotels located in Alexandria, Virginia, for a purchase price of $19.0 million. The sale is subject to the completion of the inspection period and customary closing conditions. Offered the closing conditions are met, the company anticipates to complete the sale in late spring or early summer.
Supertel Hospitality, Inc. is an independent equity real estate investment trust. The firm invests in the real estate markets of the United States. It primarily invests in limited-service hotels. The firm was formerly known as Humphrey Hospitality Trust, Inc. Supertel Hospitality, Inc. was launched on August 23, 1994 and is based in Norfolk, Nebraska.
Shares of General Moly, Inc. (NYSEMKT:GMO), jumped 26.08% to $0.73, during its last trading session.
General Moly, declared a noteworthy Investment and Security Purchase Contract with AMER International Group, a private, Chinese-based multinational company that is one of the world’s largest advanced materials, fine machining, and downstream metals refining providers, and was ranked #295 on the 2014 Fortune Global 500 list, that will also create a planned partnership and equity investment to assist with General Moly’s ability to secure full project financing for the Mt. Hope Project.
Highlights of the investment contract comprise:
- AMER reached a private placement for 40 million common shares of General Moly, priced using the trailing 90-day volume weighted average price (“VWAP”) of $0.50 on April 17, 2015, the date the investment contract was signed. General Moly anticipates the shares for this equity investment to be issued following approval of stockholders. In addition, AMER and General Moly will enter into a stockholder contract allowing AMER to nominate directors, and also regarding AMER’s acquisition and transfer of General Moly shares.
- AMER has agreed to work with General Moly to procure and support a senior secured term loan (“Bank Loan”) of about $700 million from a major Chinese bank or banks for development of the Mt. Hope Project. AMER will guarantee the Bank Loan, which is anticipated to have normal and customary covenants and security arrangements. When drawdown of the Bank Loan becomes accessible, 80 million warrants to purchase common shares of General Moly will become exercisable by AMER based on the 90-day VWAP of $0.50 from when the investment contract was signed; and
- AMER and General Moly agreed on substantial terms of a definitive contract that would provide a one-time option exercisable simultaneously with Bank Loan execution to purchase the balance of General Moly’s share of Mt. Hope molybdenum production, estimated to be about 16.5 million pounds annually, for the first five years of production, and 70% of General Moly’s annual share of Mt. Hope molybdenum production thereafter.
General Moly, Inc. engages in the exploration, development, and mining of mineral properties. The company explores for molybdenum and copper deposits. It primarily holds 80% interest in the Mt. Hope Project that contains proven and probable molybdenum reserves totaling about 1.4 billion pounds located in Eureka County, Nevada. It also holds interest in the Liberty Project located in Nye County, Nevada. The company is headquartered in Lakewood, Colorado.
At the end of Friday’s trade, Shares of Vapor Corp. (NASDAQ:VPCO), gained 24.98% to $0.95.
On April 2, Vapor Corp, declared its recent organizational restructuring to further maintain the Company’s competitiveness and establish its branded products and retail stores in an increasingly evolving e-cigarette and vaporizer market.
In conjunction with the recent merger with Vaporin, Vapor Corp. has taken a holistic approach to demonstrate the Company’s continued commitment to success, growth and innovation. To aid with this process, Vapor Corp. has brought on several new members to its revamped administration team, counting President and Director Gregory Brauser, Chief Financial Officer James Martin and new Board Member Robert Swayman.
Vapor Corp. designs, markets, and distributes vaporizers, e-liquids, electronic cigarettes, and accessories primarily in the United States and Canada. Its Vaporizers and electronic cigarettes are battery-powered products that enable users to inhale nicotine vapor without smoke, tar, ash, or carbon monoxide.
Finally, 22nd Century Group, Inc. (NYSEMKT:XXII), ended its last trade with 23.76% gain, and closed at $1.25.
22nd Century Group, declared that on April 21, 2015 in Valencia, Spain at the SH Valencia Palace hotel, the Company will hold a press conference announcing the launch of MAGIC cigarettes in about 900 state-licensed retail shops across Spain. MAGIC cigarettes will be accessible to consumers starting April 24, 2015.
22nd Century’s MAGIC cigarettes are made with the Company’s proprietary very low nicotine tobacco and are manufactured for sale in Europe by Orion Tobacco Corporation. Designed to appeal to discriminating consumers and positioned to compete with premium cigarette brands, MAGIC 0 yields only 0.04 mg nicotine per cigarette – 95% less nicotine than conventional cigarette brands. Indeed, MAGIC 0 is the world’s only virtually nicotine-free tobacco cigarette. MAGIC 2 yields 0.2 mg nicotine per cigarette – an 80% reduction in nicotine as contrast to conventional brands.
In accordance with European regulations which require cigarette manufacturers to list the nicotine yield directly on each pack of cigarettes and to round the yield to the nearest 1/10 place, MAGIC 0 packs prominently feature the words: “0.0 mg nicotine.” MAGIC 2 packs read “0.2 mg nicotine.” Dr. Michael Moynihan, VP of Research and Development at 22nd Century remarked: “We are very proud of our technology which allows us to grow the world’s lowest nicotine tobacco. This technology is what makes our extraordinary MAGIC 0 cigarettes possible.”
22nd Century Group, Inc., a plant biotechnology company, focuses on tobacco harm reduction and smoking cessation products produced from modifying the nicotine content in tobacco plants through genetic engineering and plant breeding.
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