Article from INSIDER FINANCIAL
Posted on October 26, 2017
Santo Mining Corp (OTCMKTS:SANP) Delivers Big Gains
Readers will remember well our words about Santo Mining Corp (OTCMKTS:SANP), which operates co-working spaces for cannabis entrepreneurs in the United States.
We said that the stock was keeping positive momentum, signing interesting agreements, and had the potential to deliver substantial revenue growth.
We believed that the company should be followed closely. Truly speaking, we were not wrong in saying so. In October, the stock delivered outstanding returns to the market. The share price went from trading close to $0.0003 to hit $0.0017 in less than one month.
The most remarkable is that the amount of shares that changed hands picked up in October. More than one billion shares changed hands some days, which is an astonishing amount and shows that the market is showing interest in the stock.
Have a look at it before we provide more details:
Recent Developments – What happened in October?
The following news seemed to be responsible for the share price increase.
On October 2, 2017, it was released that Chongqing Yuhuan Technology Co., Ltd., operating as Canoe Pool, and the company had signed a Letter of Intent to merge the two groups. The companies will create an entity that would be called Canoe Pool America, which will be “focused on developing and expanding the U.S. operations for Canoe Pool’s bitcoin mining operations.”
The following details were given:
“Canoe Pool is to receive 150 million shares of SANP preferred stock, representing 35% of SANP post-merger stock. An additional 50 million shares of preferred stock will be issued upon achievement of certain Bitcoin mining milestones, for a total of up to 40% of SANP post-merger stock.” Source
Additionally, we want to highlight that the transaction is expected to be finalized within next 4-6 weeks. The company will announce the closing of the merger, so the share price may further increase. Thus, we encourage readers to be alert. This seems like an important catalyst for the stock.
Is mining Bitcoin a good business?
We believe that SANP is making a smart move by entering the bitcoin industry. The crypto currency market is an innovative but yet to be regulated business that has delivered interesting returns so far. We have assessed many companies operating in this industry and this is what we have seen so far. We encourage readers to check other articles to understand why SANP is entering this sector.
What’s the biggest catalyst?
Ang Li, Chairman and CEO of Canoe Pool, explains that if the US finally regulates the industry and initial coin offerings commence, the demand for the cryptocurrency could rise. This will make mining companies, like Canoe Pool, profit and the share price could increase.
On October 16, 2017, SANP noted that Mr. Rolf Bansbach had been appointed Chief Technology Officer. We appreciate his profile. He has worked for big IT organizations, such as Hewlett Packard, Sykes Americas, and several IT data centers located in Latin America. Furthermore, the new profile will help in the cryptocurrency venture. This is what Mr. Yglesias, CEO of Santo Mining, explained:
“Mr. Bansbach takes on this new role in the company at a critical time for Santo Mining. As we prepare for the future, key acquisitions like Rolf are needed to take our company in a new direction. Young, talented blood is the future of the cryptocurrency. Rolf will see well beyond the curve and his vision will help navigate SANP into the future.” Source
Market Reaction
In our opinion, the market reacted well to the announcement made on October 3, 2017. We agree with the reaction of market participants. The growth that the new business model will bring was, in our opinion, the most significant reason for the jump. Additionally, we believe that the merger will also bring know-how, new talent and will increase the business network of SANP. We believe that if the transaction closes, the share price would continue its upward trend.
Conclusion
Currently trading with a market cap of $5.2 million, SANP is an exciting story among small caps not only because of its potential growth, but the financial figures are also interesting. The company showed, in the last quarterly release, a solid balance sheet situation. As of March 31, 2017, the company showed $0.2 million in assets and only approximately $49,000 in total liabilities. To sum up, there is a lot to like in SANP.
Be sure to check out our coverage on SANP!
We will be updating our subscribers as soon as we know more. For the latest updates on SANP, sign up below!
Image courtesy of Unai Telleria via Flickr
Disclosure: We have no position in SANP and have not been compensated for this article.
https://insiderfinancial.com/santo-mining-cor...ns/172951/
Posted on October 26, 2017
Santo Mining Corp (OTCMKTS:SANP) Delivers Big Gains
Readers will remember well our words about Santo Mining Corp (OTCMKTS:SANP), which operates co-working spaces for cannabis entrepreneurs in the United States.
We said that the stock was keeping positive momentum, signing interesting agreements, and had the potential to deliver substantial revenue growth.
We believed that the company should be followed closely. Truly speaking, we were not wrong in saying so. In October, the stock delivered outstanding returns to the market. The share price went from trading close to $0.0003 to hit $0.0017 in less than one month.
The most remarkable is that the amount of shares that changed hands picked up in October. More than one billion shares changed hands some days, which is an astonishing amount and shows that the market is showing interest in the stock.
Have a look at it before we provide more details:
Recent Developments – What happened in October?
The following news seemed to be responsible for the share price increase.
On October 2, 2017, it was released that Chongqing Yuhuan Technology Co., Ltd., operating as Canoe Pool, and the company had signed a Letter of Intent to merge the two groups. The companies will create an entity that would be called Canoe Pool America, which will be “focused on developing and expanding the U.S. operations for Canoe Pool’s bitcoin mining operations.”
The following details were given:
“Canoe Pool is to receive 150 million shares of SANP preferred stock, representing 35% of SANP post-merger stock. An additional 50 million shares of preferred stock will be issued upon achievement of certain Bitcoin mining milestones, for a total of up to 40% of SANP post-merger stock.” Source
Additionally, we want to highlight that the transaction is expected to be finalized within next 4-6 weeks. The company will announce the closing of the merger, so the share price may further increase. Thus, we encourage readers to be alert. This seems like an important catalyst for the stock.
Is mining Bitcoin a good business?
We believe that SANP is making a smart move by entering the bitcoin industry. The crypto currency market is an innovative but yet to be regulated business that has delivered interesting returns so far. We have assessed many companies operating in this industry and this is what we have seen so far. We encourage readers to check other articles to understand why SANP is entering this sector.
What’s the biggest catalyst?
Ang Li, Chairman and CEO of Canoe Pool, explains that if the US finally regulates the industry and initial coin offerings commence, the demand for the cryptocurrency could rise. This will make mining companies, like Canoe Pool, profit and the share price could increase.
On October 16, 2017, SANP noted that Mr. Rolf Bansbach had been appointed Chief Technology Officer. We appreciate his profile. He has worked for big IT organizations, such as Hewlett Packard, Sykes Americas, and several IT data centers located in Latin America. Furthermore, the new profile will help in the cryptocurrency venture. This is what Mr. Yglesias, CEO of Santo Mining, explained:
“Mr. Bansbach takes on this new role in the company at a critical time for Santo Mining. As we prepare for the future, key acquisitions like Rolf are needed to take our company in a new direction. Young, talented blood is the future of the cryptocurrency. Rolf will see well beyond the curve and his vision will help navigate SANP into the future.” Source
Market Reaction
In our opinion, the market reacted well to the announcement made on October 3, 2017. We agree with the reaction of market participants. The growth that the new business model will bring was, in our opinion, the most significant reason for the jump. Additionally, we believe that the merger will also bring know-how, new talent and will increase the business network of SANP. We believe that if the transaction closes, the share price would continue its upward trend.
Conclusion
Currently trading with a market cap of $5.2 million, SANP is an exciting story among small caps not only because of its potential growth, but the financial figures are also interesting. The company showed, in the last quarterly release, a solid balance sheet situation. As of March 31, 2017, the company showed $0.2 million in assets and only approximately $49,000 in total liabilities. To sum up, there is a lot to like in SANP.
Be sure to check out our coverage on SANP!
We will be updating our subscribers as soon as we know more. For the latest updates on SANP, sign up below!
Image courtesy of Unai Telleria via Flickr
Disclosure: We have no position in SANP and have not been compensated for this article.
https://insiderfinancial.com/santo-mining-cor...ns/172951/
