Why Did Puget Technologies (PUGE) Stock Jumped In Last Trading? – Marketing Sentinel
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Why Did Puget Technologies (PUGE) Stock Jumped In Last Trading?

At its previous close, the stock of Puget Technologies Inc [OTCPink:PUGE] rose by 14.17% to $0.0137. Volume for PUGE stock measured at 414.21M versus the 30-day Average Volume of 255.96M. PUGE stock values ranged between $0.0001 and $0.0144 over the last 52 weeks. PUGE stock hit a high note following management changes.

Who has PUGE added to its management team?

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Puget Technologies strives to become an innovation-based holding company providing support to ground-breaking businesses at various stages of their growth by way of subsidiaries and business units. Puget aims to provide access to capital and growth resources through acquisitions, strategic investment strategies, and operational support, as well as generate synergies and profit through pooled resources.

PUGE’s proposed investment focus includes traditional industries such as health care that offer huge potential for business model innovation and new markets that are trying to address big societal problems such as climate change.

On Thursday, Puget Technologies announced the appointment of Carlos H. Arce, Esq. as Chief Legal & Compliance Officer. Mr. Arce began working for Puget on October 5, 2021.

  • Carlos was born and raised in South Florida and has worked in several areas of healthcare law.
  • Services provided by Carlos include healthcare regulatory compliance, privacy, data breaches, telemedicine, healthcare network formation, medical fraud, corporate health care.
  • Carlos also served in areas like Medicaid reimbursement issues, mergers and acquisitions, and complex commercial litigation, direct contracts, Medicare Advantage.
  • With multiple forward-looking businesses in the healthcare marketplace, this expertise will be vital to the success of PUGE.

In addition, Puget Technologies this month announced that it has entered into an LOI with a company that provides medical facilities that are turn key.

  • CareSuites offers healthcare professionals a cost-effective method of expanding their practice into markets that are otherwise inaccessible.
  • PUGE will take advantage of CareSuites’ properties and infrastructure to build a streamlined, comprehensive, and simple way for patients to access all the healthcare providers that they need.
  • PUGE will also gain additional revenue from medical professionals not affiliated with other PUGE portfolio companies.
  • As part of its acquisition and development of real estate properties, PUGE will work with CareSuites on separate financing arrangements to ramp up its real estate division.

How will PUGE complete the acquisition?

A contract has been signed by CareSuites granting Puget (PUGE) a right of exclusivity to negotiate specific acquisition terms and to conduct due diligence until March 12, 2022. In the proposed acquisition, CareSuites’ securities would be exchanged for shares of PUGE’s Class B Convertible Preferred Stock, making CareSuites a wholly owned member of PUGE’s synergistic portfolio of companies. In spite of the long exclusivity period, PUGE is committed to closing the acquisition as soon as possible.

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