NetworkNewsBreaks – GTX Corp (GTXOD) Secures Million Dollar Institutional Financing Round at 10x Valuation
GPS technology-focused holding company GTX Corp (OTC: GTXOD) this morning announced the completion of several corporate initiatives, including its securement of a million dollar round of financing at a 10x valuation of its current trading price. Per the update, the company has already received its first tranche and will draw down additional tranches over the next 12 months. “We are thrilled to announce securing a new strategic partner that recognizes the true value of GTX Corp and is providing capital at a premium to market, along with business and corporate development services,” Patrick Bertagna, CEO of GTX Corp, stated in the news release. GTX Corp intends to use the financing to help position the company for growth, support corporate initiatives and pay down some debt. This update comes on the heels of GTX Corp’s successful completion of a reverse split in preparation for a proposed uplisting to the OTCQB Venture Market. As a result, the company’s shares will trade under the ticker symbol ‘GTXOD’ for the next 15 days before reverting to ‘GTXO’ once all trading platforms have been updated.
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