Renewal Fuels jumps on OTC compliance, governance improvements

Renewal Fuels (OTC:RNWF) on Friday said that it has achieved full compliance with all OTC Markets reporting requirements and has implemented significant governance and capital structure improvements, fueling gains in morning trading.

The company maintains "zero toxic debt financing, providing operational flexibility and shareholder protection."

Additionally, the cancellation process is underway for approximately 1.683 billion shares, which, upon completion, will reduce the total issued and outstanding share count to approximately 1.115 billion shares.

"This restructuring represents a fundamental reset that provides Renewal Fuels with the clean corporate foundation necessary to pursue transformational growth opportunities," said Richard Hawkins, president and CEO of Renewal Fuels.

Renewal Fuels (OTC:RNWF) was up 66% at the time of writing.