Home Financial Markets Penny Stocks Is There A Reason Why The WMELF Stock Was Up 25% Last...

Is There A Reason Why The WMELF Stock Was Up 25% Last Session?

In trading on Monday, Westmount Energy Ltd (OTCQB: WMELF) closed up 25.65% to $0.2400 and had been trading in a range of $0.2400 to $0.1910.

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During the last month, WMELF stock surged over 41.59%; with average volume of more than 53.37K shares. WMELF stock gains over 9.09% over three-month performance with an average volume of 42.55K.

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During the last twelve months, the WMELF stock has gained over 37.69% in stock price, topping out at $0.3170 price with a market cap of $34.57 million. News of Westmount becoming debt free resulted in a surge in the WMELF stock.

How was it accomplished?

The Westmount Energy venture capital firm specializes in investment on small to mid-sized companies. Guyana and Suriname are investment regions for WMELF. Founded in 1992, WMELF has its headquarters in Saint Helier, Jersey.

On April 1, 2021, Westmount issued a letter announcing that final repayment with respect to the Convertible Loan Notes (2021) due on 31st March 2013 has been made.

  • It consists of £400,000 residual principal plus £56,547.94 in accrued interest for a total of £456,547.94.
  • WMELF has now fully repaid its convertible loan notes dated the 23rd October 2018 and is debt free.
  • WMELF has an estimated cash balance of £1.3M as a result of final repayments of the Convertible Loan Notes.

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  • There are 144,051,486 ordinary shares of Westmount Energy (WMELF) stock issued and outstanding.

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