Penny Stock News: Northcore Provides Corporate Update

Listed in Penny Stocks, Stock Picks, StockGuru.com, Day Trading, Best Stocks

TORONTO, ONTARIO–(Marketwire – May 3, 2011) – Northcore Technologies Inc. (TSX:NTI)(OTCBB:NTLNF), a global provider of asset management technology solutions, is pleased to provide a corporate update on a number of activities.

The Company has fully repaid the operating loan of $500,000 received on October 28, 2010 from a private institution.

The Company has also completed a series of debt to equity conversions by investors totaling $185,000. As a result of the conversions, the Company issued 1,850,000 common shares and 1,850,000 warrants with an exercise price of $0.15. Additionally, the Company generated total proceeds of $338,000 through the exercise of the associated warrants.

“We are pleased to announce this most recent improvement to our balance sheet as a follow up to the optimism expressed at our Annual General Meeting this week,” said Duncan Copeland, CEO of Northcore Technologies. “Thanks to the continuing support of investors, we are able to maintain our focus on building IP value and revenues as outlined to our shareholders.”

Penny Stocks are stocks traded for under $2 and they represent the small cap companies. They trade on the OTCBB so you will not find them on the major stock exchanges. They are very cheap stocks and normally come for businesses needing capital. They are a very risky investment as the business can go under and leave you with a stock worth nothing. However that being said penny stock trading can be a great money maker, and there are numerous traders who make 6 figures and more from them each year.

The best reasons to trade in penny stocks are the fact that they do not require a large initial investment, meaning that they are an affordable investment for many. Penny stocks are cheap. For example if you were to buy 1000 shares in a company with shares at 10 cents, you would only require an investment of $100, whereas if the shares cost $5 you would require an investment of $5000. Penny stocks also have the potential of huge gains, and have been known to rise as much as 1000% daily. Therefore your $100 investment can be worth $1000. This is very unlikely to happen to other stocks from large cap businesses.

Article source: http://www.marketwire.com/press-release/northcore-provides-corporate-update-tsx-nti-1509508.htm