MangoceuticalsMGRX

Nuclea Energy signed a non-binding memorandum of understanding with New Mining Co. to study the use of modular reactors for data centers. The goal is to eventually provide 100 megawatts of power directly to these facilities. While this is only a preliminary study and not a firm contract, it shows how the company plans to find customers. For Mangoceuticals, the success of this merger depends on Nuclea proving there is real demand for its micro-nuclear technology.

Nuclea Energy signed an agreement with the Utah Office of Energy Development to look for a test site at the San Rafael Energy Lab. This move is intended to help the company work with federal regulators to get its Morpheus microreactor ready for use. Finding a site for testing is a necessary step for any nuclear company, but it is still very early in the process. The business must still secure significant funding and regulatory approvals before any reactors can actually be built or operated.

Source: GlobeNewsWire

Nasdaq granted the company an additional 180 days to meet the minimum bid price requirement. To stay listed, the stock price must generally stay above one dollar for at least ten consecutive business days.

This extension gives the company more breathing room to complete its planned merger with Nuclea Energy. If the stock stays below one dollar, the company might eventually have to perform a reverse stock split, which combines multiple shares into one to artificially raise the price.

Source: Globe News Wire

Definitive agreement signed for Nuclea Energy merger