Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors. Positron (POSC) Shares Rise on $38M IFA Approval

|Includes: Positron Corp. (POSC)

Shares of Positron Corp., a molecular imaging company focusing on Nuclear Cardiology, are soaring today after the company announced that the Indiana Finance Authority (IFA) approved its $38 million Midwestern Disaster Area Bond volume cap application.

At last check, Positron shares were trading 41.44% higher at $0.0256, with volume up from daily average of 639,666 to 23.1 million. The penny stock touched an intra-day high of $0.03.

Positron today said that at a meeting of Indiana Economic Development Corp. (IEDC), E, Mitchell Roob Jr., who is the CEO of IEDC, recommended the public finance director of the State of Indiana to award the Midwestern Disaster Area Bonds to the company.

The company said that the bond will be part of the long-term strategic investment it is making in the proposed high energy 70 MeV cyclotron project and radiopharmaceutical manufacturing facility in Noblesville, Indiana.

Please see disclaimer on the QualityStocks website: