Major announcements from companies almost always lead to movements in the stock price one way or another and on Thursday, the Simlatus Corporation (OTC: SIML) stock experienced a massive jump.
The Simlatus stock soared by as much as 52% after the company made a major announcement with regards to its partnership with BrewBilt Manufacturing Inc. In light of such gains, it could be a good move for investors to take a closer look at the announcement and the implications for Simlatus. The company announced that as part of its partnership with BrewBilt Manufacturing, it has launched the BrewBilt Brewery Company and it goes without saying that it is a significant development.
The Chief Executive Officer of Simlatus, Jay Lewis spoke about the developments. He stated that the company is in the process of filing for a PRE14C as part of the reorganization efforts in order to create the brewery. Simlatus has already bought the facility in question and after acquiring a license, it is expected to be in operation this summer.