Pan Global Corp (OTCMKTS:PGLO) Closes Third Session in The Green

After a rough start of the month for the stock of Pan Global Corp (OTCMKTS:PGLO) in which the ticker was sliding down the charts we received some updated information from the company that changed the tides.

Since PGLO announced on December 10 that it has closed its first tranche for the acquisition of Regency Yamuna Energy Limited (RYEL), a private Indian corporation commissioning a small-hydro 5.7MW project in nothern India the stock changed its direction and added a total of 23% to its value over the past 3 trading sessions.

PGLO is busy providing security for its investors and announced in yesterday’s press that the final stage of construction of the plant has commenced and the money provided by the company in order to acquire 3.4% in RYEL ($145,874) should be enough to complete the final 5% of the project.

This led to a 10% increase in the price of the company stock and PGLO closed the session at $0.354 per share. The total amount of shares that switched hands during the day came to 802 thousand and provided for a $287 thousand dollar volume.

In any case, the company financials that were reported in Q2 of this year were rather unsatisfying so the ticker can go in any direction at any given time. This is why we would advise you to do your due diligence and weigh out the risks before making an investment decision.