Shares of agricultural technology company
Calyx Bio-Ventures Inc. (
TSX: V.CYX,
Stock Forum) jumped 33% Monday after the company said it hopes to raise $2.1 million for purposes that include further investment in Agrisoma or other businesses in tech, agriculture and biotech sectors, including the medical marijuana and agri-pharmaceutical space.
Calyx owns just under 50% of
Agrisoma Biosciences Inc., a company engaged in producing a new proprietary non-food energy feedstock crop – carinata – which yields oil that can be refined into fuels that work in existing engines as a 100% petroleum substitute.
Calyx continues to consider financing solutions for Agrisoma that work for all of Agrisoma’s stakeholders,
the company said in a press release. In a corporate update released 5 days ago, Calyx said BDC Capital, which owns 49.96% of Agrisoma, has advanced the company $2 million by way of promissory notes.
However, despite recent meetings between Calyx and BDC, the parties have not reached an agreement with respect to further financing for Agrisoma,
Calyx said in a press release.
Trading at 8 cents on Monday, up 33%, Calyx Bio-Ventures has a market cap of $3.1 million, based on 38.4 million shares outstanding. The 52-week range is 40 cents and 5.5 cents.
Meanwhile, Calyx said the proposed non-brokered private placement would be comprised of up to 35 million units at $0.06 per unit.