AmmPower Corp (OTCMKTS:AMMPF) was under pressure on Tuesday after the news. The stock has witnessed a solid momentum over the past few months with stock soaring 67% in 6-month.

Market Reaction

In yesterday’s trading session, AMMPF stock ended lower by 14% at $1.22. Volume was hefty with more than 3.84 million shares traded hands, compared to its average volume of 230K shares. The stock opened at $1.42 and moved with in a range of $1.0500 – 1.5800.

Major Trigger:

AmmPower Corp. Announces Formation of AmmPower Lithium & Mineral Resources and AmmPower Ammonia & Alternative Energy Divisions

Key Highlights:

• announce that it has reorganized its business and assets into two distinct corporate divisions: AmmPower Lithium & Mineral Resources and AmmPower Ammonia & Alternative Energy.
• The Company believes that this new corporate structure will allow it to better focus on and present the entirety of its asset portfolio and to showcase the rapidly-expanding depth of its business, which remains squarely focussed on the extraction and production of resources and energy to power a greener economy and future.
• Mr. Rene Bharti will be the President of the Ammonia & Alternative Energy Division, where he will focus on developing the Company’s green ammonia energy solutions.
• The Company is pleased to announce that Mr. Michael Dehn will be joining the Company effective as of July 1, 2021, to lead the Lithium & Mineral Resources Division as President. Mr. Dehn will focus on the Company’s portfolio of mineral properties, including the Whabouchi South Lithium Property located in the Nemiscau Area, Eeyou Istchee Baie James Region of Quebec.

Key Quote:

“I am confident that the renewed structure sets AmmPower up for further success in both broad pillars of its business – traditional resource extraction and novel energy development, both of which we believe are instrumental to powering a greener economy and future. We are fortunate that each of our Divisions will be led by incredibly successful individuals,” stated CEO, Mr. Gary Benninger. “AmmPower will continue to provide investors with updates from both sides of its business as we move towards our operational milestones.”