Shares of Mistral Ventures Inc (PINK:MILV) gapped up on Tuesday and climbed to new 52-week high after the stock was mentioned in an article on Seekingalpha, where the author stated that the investment in the company for aggressive growth investors could be worthwhile as people start to see the potential of the company’s drug.
Late Monday, the company announced that, Nature’s Bioceuticals, a wholly owned subsidiary, received an unsolicited request from a group located in Santa Marta, Colombia that is desirous of distributing our natural medicines in a number of Latin American countries.
Robert deZanger, CEO of Natures Bioceuticals commented that although they didn’t have immediate plans to begin sales in foreign countries, but after careful consideration they have decided to move forward with the negotiation of an agreement and allow their products to be distributed in Latin America simultaneously with our US marketing and expansion plans.
The company further noted that it is planning to sale its products, which do not file a drug application with the FDA, as “supplements” in the US. The company expects to generate tens of millions of dollars in revenues following the initiation of l foreign distribution.
Shares of MILV soared 34.82% to $0.0755 after hitting a new 52-week highs of $0.08 earlier in the session. More than 36.82 million shares have traded hands, compared to its average volume of 13.31 million shares. The stock has doubled in the past one week with a whopping volume of 257 million shares on Oct 26, 2011.
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