One of the companies which managed to draw the attention of investors on Thursday was NNRF Inc (OTC:NNRI), which ended up with gains of as much as 33.33%. Additionally, the company had also recorded 3 times the average 30-day trading volume and that was an indication of the sort of action that was witnessed yesterday.
Before delving into the news it may be a better idea to get a better idea about the company’s business. Not too long ago, NNRF decided to position itself as an eco-friendly holding company. The company seeks to become a diversified holding company that unlocks value for shareholders and also helps with economic development through its focus on the green markets. The company seeks to spark growth by targeting those companies that are all set to grow in a world that is increasingly moving towards a greener future.
On April 6, 2023, the company had been in focus after it announced that it had inked a binding letter of intent with Plazer LLC and Zeolite Australia Pty Ltd to set up a joint venture. The joint venture would be involved in the development of a business related to the proprietary Cold Plasma System, which would be licensed to the JV by Plazer. It was noted at the time that the cold plasma system had more than 100 applications.
On March 30, the company made another major announcement when it revealed that it had inked a definitive agreement to complete the acquisition of Zeolite Australia Ptv Ltd. The target company operated a number of mining properties at the time which are all in different stages of development. The properties boasted zeolite reserves to the tune of 25 million tons. NNRF acquired 51% of the company and had the option to pick up the rest of the shares over the course of the coming five years.