Shares of Gushan Environmental Energy Ltd. (ADR) (NYSE: GU), a biodiesel producer in China, are seeing a huge rally in today’s trading.
At last check, the penny stock of GU was trading 45.93% higher at $1.33, with volume up from daily average of 18,862 to 215,809.
Gushan Environmental shares are soaring in today’s trading after the company announced that it entered into an agreement and plan of merger with Trillion Energy Holdings Ltd., Trillion Energy Investment Holdings and chairman and principal executive officer Jianqiu Yu.
Under the terms of the agreement, Trillion Energy Investments will be merged with and into Gushan with Gushan surviving the merger. On completion of the merger, Gushan will become a wholly owned subsidiary of Trillion Energy Holdings, which is owned by Jianqiu Yu.
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