The e-waste firm, which takes electronic waste and converts it into resources such as gold and silver, plans to offer two million shares at US$5 each and list on the NYSE American under the symbol MDRN, according to a filing. (The Logic)
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The e-waste firm, which takes electronic waste and converts it into resources such as gold and silver, plans to offer two million shares at US$5 each and list on the NYSE American under the symbol MDRN, according to a filing. (The Logic)
Talking point: NYSE American is an exchange for growing companies. Modern Mining said it has “no meaningful commercial revenues and only net losses,” as a development-stage firm. In 2022, it had no revenue and a roughly US$2.8-million net loss. It said it plans to use the majority of the funds raised for capital expenses. It will use 14 per cent for marketing and four per cent for research and development. The filing comes amid a dearth in IPO listings as economic conditions keep firms on the sidelines. A handful of Canadian firms have recently filed to list on junior U.S. markets, including Pineapple Financial, Droneify and Odd Burger.
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