Windfire Capital (TSX-V:WIF, StockForum), a Vancouver-based exploration stage firm turned medical marijuana hopeful, announced today that since the company had recently closed a private placement, it was looking to enhance shareholder value with new opportunities and that search would be within the rapidly emerging marijuana sector.
According to the news release, that even though the company was in discussions, “no agreement in principal has been entered into with any parties and there is no assurance that the company will acquire any agriculture related assets, directly or indirectly. In the interim, management continues to evaluate all potential transactions with a view to creating value for shareholders.”
In other news, the company also announced a grant of one million incentive stock options to certain directors, officers, employees and consultants of Windfire at $0.135 per share for up to five years after issuance.
Windfire was in the news recently when the company jumped 60% after closing a $0.22 million private placement a week ago.
Shares rose 29% on the news to $0.175 per share.
Currently there are 25.3m outstanding shares with a market cap of $4.3 million.