Bloom Health Partners (CSE: BLMH) has announced the successful closing of the second tranche of its private placement. This brings the company’s aggregate gross proceeds to over C$1.58 million.
Although this falls short of Bloom's goal of C$2 million, this is still quite impressive given the current bearish sentiment of the market. The company is going to put these proceeds towards further corporate development, which has me excited to see what it has been up to so far this fiscal quarter.
Bloom’s Q2 financial results were nothing short of impressive. Revenue for the quarter was roughly $11.1 million, which eclipses the company’s current valuation of only $10.4 million. If you were to ask me, I would say this is the most basic fundamental indicator that this company is extremely undervalued.
BLMH.c is currently trading at $.22, up 53% from recent lows.
https://ceo.ca/@newsfile/bloom-health-partners-announces-closing-of-second-tranche