NX Uranium, Inc. (OTC Pink: NXUR) is currently engaged in the acquisition, exploration, and development of uranium and minerals. Shares soared 700% on Thursday, December 27, 2018. Over the past month, NX has seen an average daily volume of 10,541 shares. However, on Thursday, 248,102 shares traded hands, equating to $99,240 in dollar volume.
Shares surged Thursday after NX announced the resignation of its current management and the appointment of new officers and directors. The change in management occurred as a result of the anticipated acquisition of a fully-integrated cannabis business located in southern Oregon. The cannabis business includes “a growing operation, dispensary, distribution facilities, and a grower supply.” The pending acquisition will mark Nx’s entrance into the cannabis industry and its exit from the uranium mining business. Here is the full press release detailing NX’s new management team and their anticipated acquisition:
NX Uranium, Inc. Press Release:
ADDISON, Texas, Dec. 27, 2018 (GLOBE NEWSWIRE) — via OTC PR WIRE — NX Uranium, Inc. (OTCMkts:NXUR) announced today the appointment of new officers and directors and the resignation of current management. The appointments and resignations, approved by shareholder majority consent, anticipate the acquisition of a fully-integrated cannabis business in southern Oregon, with operating entities including a grow operation, dispensary, distribution facilities and a grower supply.
The Company appointed the following:
Robert Keeler, Sr., Dallas, Texas. Mr. Keeler has nearly 25 years of experience in manufacturing, product development and supply chain experience as CEO or COO of food service and cannabis companies with market capitalizations ranging up to $100mm. Most recently, Mr. Keeler served as COO of Nutritional High International Inc., a Canadian-based, publicly traded company with a variety of cannabis assets across multiple states.
Michael Prentiss, CPA, Addison, Texas. Mr. Prentiss has nearly 20 years of experience in public accountancy and public company accounting as a Controller or Chief Financial/Accounting Officer of two national restaurant chains. Most recently, Mr. Prentiss served as the CFO/CAO of Fogo de Chao, where he was responsible for its IPO in 2015, and arranging financing to grow the chain to 40 domestic units.
Debra K. Grant, MBA, BSN, RN, Arlington, Texas. Ms. Grant has 26 years of experience in nursing and administration for national health care providers. Ms. Grant was the Chief Nursing Officer for Kaiser Permanente Los Angeles Medical Center until 2015, before assuming an executive position with Texas Health Resources.
John Conroy and Kelly Dearth have resigned as officers and directors of the Company. The Company has exited the uranium mining business.
Safe Harbor Statement
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements, trends, analysis, and other information contained in this press release including words such as “anticipate,” “believe,” “plan,” “estimate,” “expect,” “intend,” and other similar expressions of opinion, constitute forward-looking statements. Any such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company’s reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company’s estimates as of the date of the press release, and subsequent events and developments may cause the Company’s estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company’s estimates of its future financial performance as of any date subsequent to the date of this press release.
Article By: Andrew Rego