TNSX +284% closed the day 284% higher after finding itself trading at much loftier prices intra-day. The guru could not find a more logical explanation for the rise other than investors wanted to buy shares. Sometimes its as simple as following the money.
SNMN +444% closed the day 444% higher after an early morning press release (pasted below) stated the company had access to a $10 million line of credit. Not bad for a stock that closed the day at $.0009 on Tuesday. Investors were grabbing shares with reckless abandon on Wednesday and the stock closed at $.0049 up from a $.0009 close.
ORLANDO, FL, Jan 13, 2010 (MARKETWIRE via COMTEX) -- SNM Global Holdings (PINKSHEETS: SNMN) continued with its move towards the OTCBB by securing a $10,000,000 equity credit line with Tangiers Investors LP. SNM Global Holdings has signed a binding Term sheet and will move forward with the completion of the signing of the final documents as they get closer towards filing for the OTCBB.
The company stated, "The term of the credit line is over a two year period for up to a $10,000,000 credit line and will be effective with the approval of an S-1 registration statement. The company is excited about the opportunity and the funding will assist with the execution of the company's business model."
The company is working on plans for additional acquisitions and will appoint 2 additional members for the board of directors. The company will form two additional boards -- an Investment Evaluation and General Advisory board. Additional details will be announced via Press Release and Twitter.
PLEASE NOTE- Follow the Company on Twitter at www.twitter.com/snmglobal for updates and company info.
About SNM Global
SNM Global Holdings is a business development company that specializes in the investment in the Social Media / Content Development, Alternative Energy and Web/IT Technology industries through their subsidiaries and investments that will include strong support and promotional strategies.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this release that are not historical are forward-looking statements that are subject to risks and uncertainties that could cause results to differ materially from those expressed in the forward-looking statements, including but not limited to certain delays and risks detailed from time to time in the company filings with the Securities and Exchange Commission.
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