Posted by AGORACOM
at 10:09 AM on Tuesday, March 3rd, 2020
Loncor Resources Inc. (“Loncor” or the “Company“)
(TSX: “LN”; OTCQB: “LONCF”) is pleased to announce the appointment of
Mr. John Barker as Vice President of Business Development for Loncor.
Arnold Kondrat, Chief Executive Officer of Loncor, commented: “We
welcome John Barker as Vice President of Business Development for
Loncor. Mr. Barker has over 30 years of global mining experience
encompassing many key elements of the mining world, and I look forward
to working with him and the team to unlock the potential evident in the
Ngayu gold belt.â€
Mr.
Barker has 15 years’ experience as a leading mining analyst, including
with RBC DS heading up their Global Gold Mining initiative and focussing
on African mining equities. Subsequently, he was Vice President
Corporate Development for TSX-listed SouthernEra Resources, which was
taken over by Lonmin, and was instrumental in the Guinor Gold sale to
Crew Gold. More recently he has been involved in various copper,
diamond and platinum initiatives in Southern Africa. During his career
he has been involved in numerous asset sales and equity issues raising
over US$600m in Canada, Australia, Europe and RSA. Mr. Barker
commented: “Loncor
offers the chance to get involved in a region of the world that is only
now starting to show its true gold producing potential through the
success of the Barrick-operated Kibali gold mine. The Ngayu belt holds
the potential of similar discoveries and I am excited on helping the
company utilise its vast in-country experience to realise value for all.â€
About Loncor Resources Inc. Loncor
is a Canadian gold exploration company focussed on the Ngayu Greenstone
Belt in the Democratic Republic of the Congo (the “DRCâ€).
The Loncor team has over two decades of experience of operating in the
DRC. Ngayu has numerous positive indicators based on the geology,
artisanal activity, encouraging drill results and an existing gold
resource base. The area is 200 kilometres southwest of the Kibali gold
mine, which is operated by Barrick Gold (Congo) SARL (“Barrickâ€).
In 2019, Kibali produced record gold production of 814,000 ounces at
“all-in sustaining costs†of US$693/oz. Barrick has highlighted the
Ngayu Greenstone Belt as an area of particular exploration interest and
is moving towards earning 65% of any discovery in 1,894 km2 of Loncor
ground that they are exploring. As per the joint venture agreement
signed in January 2016, Barrick manages and funds exploration on the
said ground at the Ngayu project until the completion of a
pre-feasibility study on any gold discovery meeting the investment
criteria of Barrick. In a recent announcement Barrick highlighted six
prospective drill targets and are moving towards confirmation drilling
in early 2020. Subject to the DRC’s free carried interest requirements,
Barrick would earn 65% of any discovery with Loncor holding the balance
of 35%. Loncor will be required, from that point forward, to fund its
pro-rata share in respect of the discovery in order to maintain its 35%
interest or be diluted.
In
addition to the Barrick JV, certain parcels of land within the Ngayu
project surrounding and including the Makapela and Adumbi deposits have
been retained by Loncor and do not form part of the joint venture with
Barrick. Barrick has certain pre-emptive rights over the Makapela
deposit. Loncor’s Makapela deposit has an Indicated Mineral Resource of
614,200 ounces of gold (2.20 million tonnes grading 8.66 g/t Au) and an
Inferred Mineral Resource of 549,600 ounces of gold (3.22 million
tonnes grading 5.30 g/t Au). Adumbi and two neighbouring deposits hold
an Inferred Mineral Resource of 1.675 million ounces of gold (20.78
million tonnes grading 2.5 g/t Au), with 71.25% of this resource being
attributable to Loncor via its 71.25% interest.
Resolute
Mining Limited (ASX/LSE: “RSG”) owns 25% of the outstanding shares of
Loncor and holds a pre-emptive right to maintain its pro rata equity
ownership interest in Loncor following the completion by Loncor of any
proposed equity offering. Newmont Goldcorp Corporation (NYSE: “NEM”;
TSX: “NGT”) owns 7% of Loncor’s outstanding shares.
Additional information with respect to Loncor and its projects can be found on Loncor’s website at www.loncor.com
Posted by AGORACOM
at 10:02 AM on Tuesday, March 3rd, 2020
Affinity Metals Corp. (TSXV: AFF) (“Affinity” or the “Company“) announces that it has closed the first tranche (the “First Tranche“) of its non-brokered private placement (the “Offering“)
previously announced on February 6, 2020. Under the First Tranche, the
Company has issued 1,960,000 units for gross proceeds of $392,000. No
finder’s fees were paid in connection with the First Tranche.
All
securities issued under the First Tranche are subject to a hold period
expiring June 29, 2020, in accordance with applicable securities laws
and the policies of the TSX Venture Exchange.
A company owned by Sean Pownall, a director of the Company (the “Insider“),
participated in the private placement and purchased 625,000 units for
aggregate gross proceeds of $125,000. Participation by the Insider in
the private placement is considered a “related party transaction”
pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“).
The Company is exempt from the requirements to obtain a formal
valuation and minority shareholder approval in connection with the
Insider’s participation in the private placement in reliance of sections
5.5(a) and 5.7(a) of MI 61-101, respectively, on the basis that
participation in the Offering by the Insider did not exceed 25% of the
fair market value of the Company’s market capitalization The Company did
not file a material change report at least 21 days prior to the First
Tranche closing of the Offering as participation of the Insider had not
been confirmed at that time.
This
news release does not constitute an offer to sell or a solicitation of
an offer to buy any of the securities in the United States of America.
The securities have not been and will not be registered under the United
States Securities Act of 1933 (the “1933 Act”) or any state securities
laws and may not be offered or sold within the United States or to U.S.
Persons (as defined in the 1933 Act) unless registered under the 1933
Act and applicable state securities laws, or an exemption from such
registration is available.
About Affinity
Affinity
is a Canadian mineral exploration company focused on advancing the
Regal polymetallic project located near Revelstoke, British Columbia,
Canada.
Information related to the Company and the Regal project can be found on the Company’s website at:www.affinity-metals.com.
On behalf of the Board of Directors
Robert Edwards CEO and Director of Affinity Metals Corp. The Company can be contacted at: [email protected] or by phone at 604-227-3554.
Posted by AGORACOM
at 9:53 AM on Monday, March 2nd, 2020
ZEN Graphene Solutions Ltd. (TSXV: ZEN) “ZEN” or the “Company“) is pleased to announce the launch of Albany Pure TM graphene products on their website at https://shop.zengraphene.com/.
The Company is planning to expand its product line to bring Graphene
Quantum Dots, Graphene Oxide, Reduced Graphene Oxide, and other
graphene-based products to the market.
The
Company is ramping up its new lab facility in Guelph, Ontario and is
working towards larger-scale graphene production. The graphene precursor
material is sourced from the unique, igneous-hosted Albany Graphite
Deposit in Northern Ontario. As part of the company’s business
development plan, ZEN is actively working with several industries to
functionalize and test its graphene products in their applications with
the potential for subsequent industry partnerships and agreements.
About ZEN Graphene Solutions Ltd.
ZEN
is an emerging graphene technology solutions company with a focus on
the development of graphene-based nanomaterial products and
applications. The unique Albany Graphite Project provides the company
with a potential competitive advantage in the graphene market as
independent labs in Japan, UK, Israel, USA and Canada have independently
demonstrated that ZEN’s Albany PureTM Graphite is an ideal precursor
material which easily converts (exfoliates) to graphene, using a variety
of mechanical, chemical and electrochemical methods.
Posted by AGORACOM
at 9:21 AM on Thursday, February 27th, 2020
Cardston, Alberta–(February 27, 2020) – American Creek Resources
Ltd. (TSXV: AMK) (“the Corporation”) is pleased to report the assays
from phase 1 drilling from the 2019 fall drill program that was
conducted at the company’s 100% owned Dunwell Mine property located in
the Golden Triangle of British Columbia.
The Dunwell Mine is a high-grade past producing polymetallic mine
located just 8km by road from the shipping town of Stewart. This
property boasts exceptional logistics and a rich mining history with
significant potential for future development. A significant geological
feature running through the property is the Portland Canal Fissure Zone.
With the recent acquisition of the Glacier Creek claims American Creek
now controls 5km of the 6.5km Portland Canal Fissure Zone which contains
numerous high-grade polymetallic mineral occurrences including two past
producing mines (the Dunwell and Portland Canal). Very little modern
exploration has been done on the property. While there is huge potential
exploring along the extended reaches of the fissure zone, the initial
drill program was designed to test areas near the workings of the
Dunwell mine itself.
The initial objective for the drill program was to test the down dip
extension of the Dunwell main vein below sub-level 4. The second
objective was to test geophysical anomalies from an Induced Polarization
(IP) survey conducted later in the fall of 2019. Both of these
objectives were successfully accomplished with this drill program.
A total of 20 holes totaling 3,245.9m were completed on the property.
The first 14 holes were based on geological and historical data and
were successful in encountering veins of high-grade polymetallic
mineralization including 20.3 g/t AuEq over 2.7m, 18.4 g/t AuEq over 1.5m, 28.6 g/t AuEq over 0.5m and 24.4 g/t AuEq over 0.5m.
Holes DW19-04 to DW19-08 were drilled to test the down dip of the Dunwell zone below sub-level 4.
Results show high-grade hits, including 13.2 g/t AuEq,
in this series of holes that traversed from the east southeast to the
east. The holes consistently hit two zones, both at the base of dikes at
22 – 26 meters and 83 – 87 meters. These two zones, seen in the five
holes, run sub-parallel to the fault the drill pad was located on and
trend for some distance to the north.
Hole DW19-09 was drilled to test the north extension of the main zone
below level 4. The first breccia below the dike shows up in this hole
with a 28.5 g/t AuEq assay and the second with a 18.4 g/t AuEq assay.
HOLE
FROM (m)
TO (m)
INTERVAL (m)
AU g/t
AG g/t
CU %
PB %
ZN %
AuEq g/t
DW19-09
27.60
28.05
0.45
13.870
258.0
0.438
15.530
11.040
28.509
DW19-09
143.02
144.52
1.50
7.898
84.9
0.359
0.791
20.250
18.440
Hole DW19-10 was drilled to test below sub-level 4 but further to the southeast from hole DW19-04.
HOLE
FROM (m)
TO (m)
INTERVAL (m)
AU g/t
AG g/t
CU %
PB %
ZN %
AuEq g/t
DW19-10
29.00
29.57
0.57
2.785
42.5
0.055
0.713
3.020
4.956
DW19-10
88.71
89.61
0.90
3.535
43.2
0.060
1.480
2.860
5.959
DW19-10
99.13
99.79
0.66
1.707
33.7
0.031
0.285
0.529
2.491
The two breccias below the dikes, seen in holes 7 and 8 are present.
Holes 11 to 13 were drilled to follow up on the results from hole 9.
The holes were drilled in a fan where holes 11 and 12 were drilled at a
steeper angle to test below hole 9 and hole 13 was drilled at a flatter
angle to test above hole 9. Hole 14 was drilled at a 5° rotation to the
north of hole 9 to test the width of the structure.
HOLE
FROM (m)
TO (m)
INTERVAL (m)
AU g/t
AG g/t
CU %
PB %
ZN %
AuEq g/t
DW19-11
26.82
27.82
1.00
5.601
66.0
0.213
1.700
7.850
10.729
DW19-11
95.63
96.27
0.64
4.408
34.5
0.026
0.363
0.757
5.326
DW19-11
138.45
138.95
0.50
4.026
66.0
0.166
1.070
6.220
8.139
DW19-11
142.24
144.93
2.69
11.346
142.5
0.220
3.197
13.069
20.269
DW19-12
22.17
23.47
1.30
2.851
60.8
0.147
1.844
4.946
6.638
DW19-12
27.05
27.81
0.76
1.562
30.4
0.104
0.647
2.660
3.461
DW19-12
97.49
99.15
1.66
1.546
54.4
0.041
1.060
5.356
4.998
DW19-13
27.55
28.15
0.60
8.110
113.0
0.171
4.630
8.270
15.116
DW19-13
142.87
143.57
0.70
4.486
66.6
0.068
0.710
1.009
6.087
DW19-14
27.43
28.23
0.80
8.924
161.0
0.309
5.120
6.800
16.222
DW19-14
98.32
99.86
1.54
7.692
32.8
0.009
0.207
0.111
8.227
DW19-14
142.75
144.70
1.95
3.720
43.2
0.103
0.755
9.240
8.673
DW19-14
146.88
147.38
0.50
9.403
264.0
0.528
5.210
20.900
24.347
All the holes intersected the breccia below the dike at about 27
meters. Holes 11, 13 and 14 appear to intersect a similar structure to
that seen in hole 9. Multiple high-grade intercepts assayed as high as 24.3 g/t AuEq, 20.3 g/t AuEq, 16.3 AuEq, and 15.1 g/t AuEq while the remaining intercepts were still strong.
No modern exploration techniques or technologies have been used on
the Dunwell until a cutting edge Induced Polarization (IP) survey took
place in late fall of 2019. Only two of the dozens of geophysical
anomalies identified in the survey in close proximity to the Dunwell
Mine were drill tested in this first phase of drilling.
The last 6 holes (DW19-15 to DW19-19) were drilled to test the extent
of a large IP anomaly and were successful in encountering veins of
high-grade polymetallic mineralization including 19.4 g/t AuEq over 3.6m, 38.1 g/t AuEq over 0.5m and 28.4 AuEq over 0.4m with the remaining intercepts also containing significant mineralization.
Hole 15 was drilled south into the anomaly and Hole 16 was drilled
west into the anomaly with both intersecting a massive sulphide zone.
Holes 17 – 19 were drilled in a fan to follow up hole 16. Hole 18 also
hit a massive sulphide zone.
HOLE
FROM (m)
TO (m)
INTERVAL (m)
AU g/t
AG g/t
CU %
PB %
ZN %
AuEq g/t
DW19-15
100.90
102.08
1.18
8.445
869.0
0.034
0.186
1.265
19.536
DW19-15
152.09
152.59
0.50
32.230
472.0
0.008
0.134
0.372
38.119
DW19-16
45.11
45.81
0.70
11.260
144.0
0.208
6.550
6.010
18.471
DW19-16
75.07
78.68
3.61
8.850
88.8
0.221
1.768
19.514
19.354
DW19-17
no significant results
DW19-18
38.79
39.22
0.43
15.300
185.0
2.874
2.870
14.470
28.243
DW19-19
34.87
36.04
1.17
3.332
27.9
0.048
0.986
2.580
5.239
DW19-19
75.71
77.13
1.42
5.255
225.9
0.159
9.298
3.315
13.328
Hole 16 hit a massive sulphide interval at 75 – 78 meters. Hole 20
was drilled to test an IP anomaly along the access road below the second
drill pad. One small breccia was intercepted.
HOLE
FROM (m)
TO (m)
INTERVAL (m)
AU g/t
AG g/t
CU %
PB %
ZN %
AuEq g/t
DW19-20
121.01
121.45
0.44
1.669
27.5
0.007
0.034
0.082
2.056
CEO and President, Darren Blaney stated: “Our very
first drill program has intersected a significant number of high-grade
veins in the vicinity of the mine workings confirming our belief in the
potential of this project.
The Dunwell is an incredibly prospective property located in the
heart of the Golden Triangle. It has everything going for it from
amazing logistics to past high-grade production, with all indications
being that there is substantive additional ore yet to be mined.
With the recent acquisition of the Glacier Creek Crown Grants we now
cover 5km of the heavily mineralized Portland Canal Fissure Zone which
runs for 6.5km and is associated with over a dozen high-grade gold and
silver showings including two past producing mines. The potential of the
property extends far beyond the old workings of the Dunwell Mine.
Future exploration will be using the latest technologies to aid us in
unlocking that potential.”
Through a series of strategic acquisitions American Creek was able to
purchase the past-producing Dunwell Mine as well as several adjoining
very prospective properties, combining them into one large land package
that encompasses the best gold and silver mineral occurrences and
historic workings in the Bear River valley. The amalgamated property
spans 2,222 hectares covering the majority of the Portland Canal Fissure
Zone, an area first prospected in the late 1800’s and hosting some of
the earliest producing gold and silver mines in the Stewart area.
The Dunwell project is located 8km northeast of Stewart and is road
accessible with the Dunwell Mine adit itself located only 2km from
Highway 37A and a major power line. Stewart hosts a deep sea port
including ore loading and shipping facilities. Unlike the majority of
mineral properties located near Stewart, the Dunwell is located in low
mountainous terrain (700 m and lower elevation) with moderate relief.
These features allow for year-round work which typically isn’t the case
for exploration programs conducted in the Stewart region where projects
are typically at higher altitude, are accessible only by helicopter, and
lack critical infrastructure such as roads and power. The Dunwell
project may just have the best logistics of any project in the Golden
Triangle.
The Dunwell Mine is the most significant mineral occurrence within
the Portland Canal Fissure Zone. Production at the Dunwell occurred
between 1926 and 1937. From historic reports, it appears that a total of
45,657 tonnes averaging 6.63 g/t gold, 223.91 g/t silver, 1.83% lead,
2.43% zinc and 0.056% copper were produced.
In addition to the Dunwell mine itself, the property package also
contains over a dozen other high-grade gold and silver occurrences and
historic small-scale gold/silver high-grading operations along a
north/south trend that correlates to the fissure zone and major
faulting. Some examples of the nine areas that actually produced ore
are:
Ben Ali: 4,500 tons at 21.6 g/t gold
Lakeview 60 tons at 4.7 g/t gold, 2,734 g/t silver, and 11.5% lead
Victoria 11 tons at 20.15 g/t gold, 775 g/t silver, 25% lead
Tyee 8.2 tons at 124.4 g/t gold and 4,478.8 g/t silver
George E 12 tons at 13 g/t gold and 3,250 g/t silver, 23.3% lead
Each of these areas were producing during the 1930’s when exploration
techniques and technology was very primitive. American Creek has
already started to use the latest in exploration technology on the
property and will continue to do so to unlock the great potential that
exists here.
The Qualified Person for the Dunwell results in this new release is
James A. McCrea, P. Geo., for the purposes of National Instrument
43-101. He has read and approved the scientific and technical
information that forms the basis for the disclosure contained in this
news release.
About American Creek
American Creek holds a strong portfolio of gold and silver properties
in British Columbia. The portfolio includes three Golden Triangle
gold/silver properties; the Treaty Creek and Electrum joint ventures
with Walter Storm/Tudor as well as the 100% owned past-producing Dunwell
Mine. Other properties held throughout BC include the Gold Hill,
Austruck-Bonanza, Ample Goldmax, Silver Side, and Glitter King.
For further information please contact Kelvin Burton at: Phone: 403 752-4040 or Email: [email protected]. Information relating to the Corporation is available on its website at www.americancreek.com
Posted by AGORACOM
at 9:10 AM on Thursday, February 27th, 2020
Stillcanna is a vertically integrated, European-based company
with a focus on industrial-scale manufacturing of the highest quality
CBD extracts
Stillcanna looks to become one of the largest producers of THC-free CBD extracts in Europe
VANCOUVER, BC / ACCESSWIRE / February 26, 2020 / Mota Ventures Corp. (CSE:MOTA)(OTC:PEMTF)(FRANKFURT:1WZGR) (“Mota“) and Stillcanna Inc. (STIL)(SCNNF)(A2PEWA) (“Stillcanna“) are pleased to announce that they have entered into a letter of intent (the “Letter of Intent“),
dated effective February 25, 2020, pursuant to which Mota proposes to
acquire all of the outstanding share capital of Stillcanna (the “Proposed Transaction“).
Strategic Merger
Mota
is a globally-focused CBD product development and marketing company
with established online retail brands in both the U.S. and Europe.
Through its acquisition of First Class CBD, Mota has become a
significant direct-to-consumer retail brand in the United States. In
2019, First Class CBD (then, a division of Unified Funding, LLC)
realized approximately C$28.7 million in revenue with an EBITDA of
approximately 12.5%.1 Mota’s successful e-commerce platform currently
serves over 140,000 online customers and has generated over 400,000
leads in the United States. With the roll-out of First Class CBD’s
proven e-marketing strategy throughout Europe, Mota believes that a
merger with a high-quality CBD producer is of paramount importance in
order to capture the large margins in the CBD-product supply chain.
Stillcanna
is a vertically integrated, European-based company with a focus on
industrial-scale manufacturing of the highest quality CBD extracts.
Using proprietary extraction techniques and purpose-built equipment,
Stillcanna looks to become one of the largest producers of THC-free CBD
extracts in Europe. Stillcanna’s Polish extraction facility, NEXUS, features
industrial-scale centrifugal chromatography equipment that allows for
the production of bulk THC-free CBD distillate as well as custom
Cannabinoid profiles. In February 2020, Stillcanna’s Romanian extraction
facility, ORIGIN,
which operates pursuant to a joint venture between Stillcanna and
Dragonfly Biosciences Ltd., received approval from the Ministry of
Health and the Anti-Drug Agency to become the first government
recognized extraction facility in the country. To date C$23,000,000 has
been invested by Stillcanna in the cultivation and extraction
operations, with current cash on hand in Stillcanna of approximately
C$7,000,000.
Stillcanna’s
CBD extracts are key to unlocking additional value in Mota’s retail
offerings in Europe. Through Stillcanna, Mota hopes to guarantee the
supply of high-quality CBD for its expanding product line in Europe,
while the large production capacity of NEXUS and ORIGIN will allow Mota to be a key supplier of legal CBD products in Europe.
“We
are very excited to pursue a transaction with Stillcanna. The merger of
this large-scale, high-quality CBD producer will fit brilliantly with
Mota’s strategic expansion plan to vertically integrate operations in
Europe while increasing profit margins in product offerings. Product
awareness and availability are still quite limited in Europe, which
presents an opportunity for Mota to further establish its brands in a
market that is expected to experience rapid growth in the near term.
With the Stillcanna merger, we’re putting together a team that can
create, market and sell consumer CBD products to European customers,â€
stated Ryan Hoggan, CEO of Mota.
“Combining
a company that has established brands and direct-to-consumer sales
channels with one that has proven CBD extraction expertise makes perfect
sense to us,†commented Jason Dussault, CEO of Stillcanna. “The
wholesale landscape for CBD has changed dramatically in the past year,
and the creation of a seed-to-consumer CBD company in the growing
European market creates a direct path to profitability. This merger
completes the circle for Stillcanna, evolving from a seed to CBD
concentrate company to a seed to retail sales company.â€
Merger Details
Under
the terms of the Proposed Transaction, Mota would acquire all of the
outstanding share capital of Stillcanna by way of a statutory plan of
arrangement under the Business Corporations Act of British Columbia Canada. Shareholders of Stillcanna (the “Stillcanna Shareholders“) would receive one common share of Mota for every 1.8 common shares of Stillcanna held at the time of exchange (the “Exchange Ratio“).
Based on the current outstanding common share capital of Stillcanna, it
is anticipated that Mota would issue approximately 61,597,082 Mota
shares to complete the Proposed Transaction.
Upon
completion of the Proposed Transaction: (i) all outstanding incentive
stock options of Stillcanna will be exchanged for options to purchase
Mota shares on the basis of the Exchange Ratio and will thereafter be
subject to the incentive stock option plan of Mota; and (ii) all
unexercised share purchase warrants of Stillcanna will be exchanged for
warrants to purchase Mota shares on the basis of the Exchange Ratio and
will expire in accordance with their current expiry dates.
Mota
and Stillcanna are at arms-length. The Proposed Transaction does not
constitute a reverse-takeover of Mota, nor is it expected to result in a
change of control of Mota within the meaning of applicable securities
laws and the policies of the Canadian Securities Exchange. Upon
completion of the Proposed Transaction, there will be no changes to the
management or the board of directors of Mota and it is expected that
members of management and the board of Stillcanna will continue to
assist in relation to the management of Stillcanna’s business.
Completion
of the Proposed Transaction remains subject to a number of conditions,
including, but not limited to: (i) satisfactory completion of due
diligence; (ii) negotiation of definitive, legally-binding
documentation; (iii) receipt of any required regulatory approvals,
including the court; (iv) the approval of the Stillcanna Shareholders;
(v) receipt of a satisfactory fairness opinion in respect of the
Proposed Transaction; (vi) Stillcanna having arranged to amend the terms
of certain existing employment and consulting engagements; (vii)
shareholders of Stillcanna holding at least 40,000,000 of the
outstanding share capital of Stillcanna having agreed to the terms of a
pooling arrangement restricting their ability to trade one-half of the
Mota shares they receive for a period of six months following completion
of the Proposed Transaction; (viii) Stillcanna having positive working
capital of not less than C$6,000,000, after taking into account all
expenses associated with the Proposed Transaction; and (ix) Mota
completing a private placement of units to raise gross proceeds of not
less than C$5,000,000 (the “Mota Financing“).
The Proposed Transaction cannot be completed until these conditions are
satisfied. There can be no assurance that the Proposed Transaction will
be completed as proposed or at all.
The
proposed Mota Financing will consist of units at a price of C$0.45 per
unit, with each unit comprised of one Mota common share and one share
purchase warrant of Mota. Each such warrant will be exercisable to
purchase one common share of Mota at a price of C$0.60 for a period of
two years. All securities to be issued in connection with the Mota
Financing will be subject to a four-month-and-one-day statutory hold
period in accordance with applicable securities laws. Mota anticipates
paying finders fees to certain eligible parties who have introduced
subscribers to the Mota Financing.
The
board of directors of each of Mota, and Stillcanna, have unanimously
approved the Letter of Intent. Further information about the Proposed
Transaction will be included in subsequent press releases when
available.
About Mota Ventures Corp.
Mota
is seeking to become a vertically integrated global CBD brand. Its plan
is to cultivate and extract CBD into high-quality value-added products
from its Latin American operations and distribute it both domestically
and internationally. Its existing operations in Colombia consist of a
2.5-hectare site that has optimal year-round growing conditions and
access to all necessary infrastructure. Mota is looking to establish
sales channels and a distribution network internationally through the
acquisition of the Sativida and First Class CBD brands. Low cost
production, coupled with international, direct to customer sales
channels will provide the foundation for the success of Mota.
About Stillcanna Inc.
Stillcanna
is a Canadian early-stage life sciences company focused on the
large-scale manufacturing of CBD in Europe using its proprietary
intellectual property. Stillcanna has signed an initial extraction
contract in Europe to be the exclusive extractor for Dragonfly
Biosciences LLC, a United Kingdom-based supplier of CBD. Stillcanna also
recently completed the acquisition of Olimax NT SP.Z.O.O., a
multi-generational hemp agricultural firm that is expected to increase
market share in the European CBD industry.
Posted by AGORACOM
at 8:45 AM on Thursday, February 27th, 2020
The Wollammo product consists of 100% St-Onge Wollastonite
A premium grade natural Wollastonite mineral product that helps to increase plant available silicon, calcium and magnesium in soils and enhance plant stress tolerance, increase yields and improve pest management for a variety of agricultural crops.
VERTICAL EXPLORATION INC. (TSXV:VERT) (“Vertical”or “the Company”) is pleased to provide an update regarding its recent, highly encouraging, test marketing and customer awareness efforts for the Company’s high-quality St-Onge Wollastonite.
Vertical’s
distribution partner, Wollammo Distribution Inc. (Wollammo), received
significant positive interest in its Wollammo product at the 2020 BC
Home and Garden Show that took place at BC Place Stadium in Vancouver
from February 19th – 23rd. The Wollammo product, which consists of 100%
St-Onge Wollastonite, is a premium grade natural Wollastonite mineral
product that helps to increase plant available silicon, calcium and
magnesium in soils and enhance plant stress tolerance, increase yields
and improve pest management for a variety of agricultural crops.
The
prestigious BC Home and Garden Show has been a staple in British
Columbia consumers’ calendars since 1971, attracting more than 50,000
plus qualified visitors each year which makes it one of the largest home
and garden shows in the province. The 2020 Show featured high-interest
exhibits, high-profile industry personalities and the latest home,
garden and lifestyle trends. The Wollammo Distribution team was one of
over 400 exhibitors, hosting a high profile vendor booth at the event.
Throughout
the five day Show, the Wollammo team received an excellent response
from event patrons for the St-Onge based Wollammo product – the team
provided over 3800 test market Wollammo packaged samples to interested
home, garden and larger agricultural customers which far exceeded its
initial estimate of 2000 samples for the entire event. Thousands more
consumers also visited the booth to specifically touch, feel and find
out more about the Wollammo product and its valuable agricultural uses.
Matt
Harvey, Director of Wollammo Distribution Inc., commented: “My team and
I were simply overwhelmed by the positive response we received at the
BC Home and Garden show regarding our premium Wollammo product. The
people and businesses that visited our booth were very eager to learn
about all the numerous plant health benefits of the natural
calcium-silicate rich St-Onge Wollastonite. The Wollammo test market
samples literally flew off our display shelves – we now have hundreds of
new customers and enquiries to follow-up on in the days and weeks
ahead, including a large range of agricultural companies and wholesale
businesses that want to further test and potentially purchase our
Wollammo product as soon as possible.”
Peter
P. Swistak, President/CEO of Vertical Exploration Inc., also commented:
“I was personally at the Show, working alongside Matt and his excellent
team, to help provide up to date information about our premium St-Onge
Wollastonite to the thousands of interested people and also the retail
and wholesale businesses that visited our booth. The BC Home and Garden
Show has been an unqualified success for our Company and the Wollammo
brand, and it bodes extremely well for our plans to move quickly ahead
with our Quebec quarry permitting process and on to future sales to a
wide range of agricultural and cannabis customers following that.”
Vertical
anticipates providing further updates regarding the numerous test
market opportunities and partnerships, that both the Company and its
Wollammo Distribution partner are currently following up on, that have
arisen as a result of attending the 2020 BC Home and Garden Show in
Vancouver.
ABOUT VERTICAL EXPLORATION
Vertical
Exploration’s mission is to identify, acquire, and advance high
potential mining prospects located in North America for the benefit of
its stakeholders. The Company’s flagship St-Onge Wollastonite property
is located in the Lac-Saint-Jean area in the Province of Quebec.
ON BEHALF OF THE BOARD Peter P. Swistak, President/CEO
Posted by AGORACOM
at 6:10 PM on Wednesday, February 26th, 2020
Stillcanna is a vertically integrated, European-based company with a focus on industrial-scale manufacturing of the highest quality CBD extracts
Stillcanna looks to become one of the largest producers of THC-free CBD extracts in Europe
VANCOUVER, BC / ACCESSWIRE / February 26, 2020 /Â Mota Ventures Corp. (CSE:MOTA)(OTC:PEMTF)(FRANKFURT:1WZGR) (“Mota“) and Stillcanna Inc. (STIL)(SCNNF)(A2PEWA) (“Stillcanna“) are pleased to announce that they have entered into a letter of intent (the “Letter of Intent“), dated effective February 25, 2020, pursuant to which Mota proposes to acquire all of the outstanding share capital of Stillcanna (the “Proposed Transaction“).
Strategic Merger
Mota
is a globally-focused CBD product development and marketing company
with established online retail brands in both the U.S. and Europe.
Through its acquisition of First Class CBD, Mota has become a
significant direct-to-consumer retail brand in the United States. In
2019, First Class CBD (then, a division of Unified Funding, LLC)
realized approximately C$28.7 million in revenue with an EBITDA of
approximately 12.5%.1 Mota’s successful e-commerce platform currently
serves over 140,000 online customers and has generated over 400,000
leads in the United States. With the roll-out of First Class CBD’s
proven e-marketing strategy throughout Europe, Mota believes that a
merger with a high-quality CBD producer is of paramount importance in
order to capture the large margins in the CBD-product supply chain.
Stillcanna
is a vertically integrated, European-based company with a focus on
industrial-scale manufacturing of the highest quality CBD extracts.
Using proprietary extraction techniques and purpose-built equipment,
Stillcanna looks to become one of the largest producers of THC-free CBD
extracts in Europe. Stillcanna’s Polish extraction facility, NEXUS, features
industrial-scale centrifugal chromatography equipment that allows for
the production of bulk THC-free CBD distillate as well as custom
Cannabinoid profiles. In February 2020, Stillcanna’s Romanian extraction
facility, ORIGIN,
which operates pursuant to a joint venture between Stillcanna and
Dragonfly Biosciences Ltd., received approval from the Ministry of
Health and the Anti-Drug Agency to become the first government
recognized extraction facility in the country. To date C$23,000,000 has
been invested by Stillcanna in the cultivation and extraction
operations, with current cash on hand in Stillcanna of approximately
C$7,000,000.
Stillcanna’s
CBD extracts are key to unlocking additional value in Mota’s retail
offerings in Europe. Through Stillcanna, Mota hopes to guarantee the
supply of high-quality CBD for its expanding product line in Europe,
while the large production capacity of NEXUS and ORIGIN will allow Mota to be a key supplier of legal CBD products in Europe.
“We
are very excited to pursue a transaction with Stillcanna. The merger of
this large-scale, high-quality CBD producer will fit brilliantly with
Mota’s strategic expansion plan to vertically integrate operations in
Europe while increasing profit margins in product offerings. Product
awareness and availability are still quite limited in Europe, which
presents an opportunity for Mota to further establish its brands in a
market that is expected to experience rapid growth in the near term.
With the Stillcanna merger, we’re putting together a team that can
create, market and sell consumer CBD products to European customers,”
stated Ryan Hoggan, CEO of Mota.
“Combining
a company that has established brands and direct-to-consumer sales
channels with one that has proven CBD extraction expertise makes perfect
sense to us,” commented Jason Dussault, CEO of Stillcanna. “The
wholesale landscape for CBD has changed dramatically in the past year,
and the creation of a seed-to-consumer CBD company in the growing
European market creates a direct path to profitability. This merger
completes the circle for Stillcanna, evolving from a seed to CBD
concentrate company to a seed to retail sales company.”
Merger Details
Under
the terms of the Proposed Transaction, Mota would acquire all of the
outstanding share capital of Stillcanna by way of a statutory plan of
arrangement under the Business Corporations Act of British Columbia Canada. Shareholders of Stillcanna (the “Stillcanna Shareholders“) would receive one common share of Mota for every 1.8 common shares of Stillcanna held at the time of exchange (the “Exchange Ratio“).
Based on the current outstanding common share capital of Stillcanna, it
is anticipated that Mota would issue approximately 61,597,082 Mota
shares to complete the Proposed Transaction.
Upon
completion of the Proposed Transaction: (i) all outstanding incentive
stock options of Stillcanna will be exchanged for options to purchase
Mota shares on the basis of the Exchange Ratio and will thereafter be
subject to the incentive stock option plan of Mota; and (ii) all
unexercised share purchase warrants of Stillcanna will be exchanged for
warrants to purchase Mota shares on the basis of the Exchange Ratio and
will expire in accordance with their current expiry dates.
Mota
and Stillcanna are at arms-length. The Proposed Transaction does not
constitute a reverse-takeover of Mota, nor is it expected to result in a
change of control of Mota within the meaning of applicable securities
laws and the policies of the Canadian Securities Exchange. Upon
completion of the Proposed Transaction, there will be no changes to the
management or the board of directors of Mota and it is expected that
members of management and the board of Stillcanna will continue to
assist in relation to the management of Stillcanna’s business.
Completion
of the Proposed Transaction remains subject to a number of conditions,
including, but not limited to: (i) satisfactory completion of due
diligence; (ii) negotiation of definitive, legally-binding
documentation; (iii) receipt of any required regulatory approvals,
including the court; (iv) the approval of the Stillcanna Shareholders;
(v) receipt of a satisfactory fairness opinion in respect of the
Proposed Transaction; (vi) Stillcanna having arranged to amend the terms
of certain existing employment and consulting engagements; (vii)
shareholders of Stillcanna holding at least 40,000,000 of the
outstanding share capital of Stillcanna having agreed to the terms of a
pooling arrangement restricting their ability to trade one-half of the
Mota shares they receive for a period of six months following completion
of the Proposed Transaction; (viii) Stillcanna having positive working
capital of not less than C$6,000,000, after taking into account all
expenses associated with the Proposed Transaction; and (ix) Mota
completing a private placement of units to raise gross proceeds of not
less than C$5,000,000 (the “Mota Financing“).
The Proposed Transaction cannot be completed until these conditions are
satisfied. There can be no assurance that the Proposed Transaction will
be completed as proposed or at all.
The
proposed Mota Financing will consist of units at a price of C$0.45 per
unit, with each unit comprised of one Mota common share and one share
purchase warrant of Mota. Each such warrant will be exercisable to
purchase one common share of Mota at a price of C$0.60 for a period of
two years. All securities to be issued in connection with the Mota
Financing will be subject to a four-month-and-one-day statutory hold
period in accordance with applicable securities laws. Mota anticipates
paying finders fees to certain eligible parties who have introduced
subscribers to the Mota Financing.
The
board of directors of each of Mota, and Stillcanna, have unanimously
approved the Letter of Intent. Further information about the Proposed
Transaction will be included in subsequent press releases when
available.
About Mota Ventures Corp.
Mota
is seeking to become a vertically integrated global CBD brand. Its plan
is to cultivate and extract CBD into high-quality value-added products
from its Latin American operations and distribute it both domestically
and internationally. Its existing operations in Colombia consist of a
2.5-hectare site that has optimal year-round growing conditions and
access to all necessary infrastructure. Mota is looking to establish
sales channels and a distribution network internationally through the
acquisition of the Sativida and First Class CBD brands. Low cost
production, coupled with international, direct to customer sales
channels will provide the foundation for the success of Mota.
About Stillcanna Inc.
Stillcanna
is a Canadian early-stage life sciences company focused on the
large-scale manufacturing of CBD in Europe using its proprietary
intellectual property. Stillcanna has signed an initial extraction
contract in Europe to be the exclusive extractor for Dragonfly
Biosciences LLC, a United Kingdom-based supplier of CBD. Stillcanna also
recently completed the acquisition of Olimax NT SP.Z.O.O., a
multi-generational hemp agricultural firm that is expected to increase
market share in the European CBD industry.
Posted by AGORACOM
at 1:13 PM on Wednesday, February 26th, 2020
SPONSOR: American Creek owns a 20% Carried Interest to Production at the Treaty Creek Project in the Golden Triangle. 2019’s first hole averaged of 0.683 g/t Au over 780m in a vertical intercept. The Treaty Creek property is located in the same hydrothermal system as the Pretivm and Seabridge’s KSM deposits. Click Here For More Info
Exchange-traded fund holdings expand for 25 days to most ever
Moody’s Analytics says recession possible if pandemic occurs
Global investors are stashing more and more assets into gold as the
coronavirus outbreak spreads and appetite for risk takes a hit.
The global tally of bullion in exchange-traded funds swelled by the
most in more than a month on Tuesday as equities sank. That was the 25th
consecutive day of inflows, a record. At 2,624.7 tons, the holdings are
the largest ever.
After surging 18% last year, gold has extended its rally in 2020,
with prices hitting the highest since 2013. The haven has been favored
as the virus outbreak has spread beyond China, threatening a pandemic
and slower growth.
Goldman Sachs Group Inc. has said that should the disruption from the disease stretch into the second quarter, prices may rally toward $1,850 an ounce. Spot bullion was last at $1,644.67, up 0.6%. It touched $1,689.31 on Monday.
A global recession
is likely if the coronavirus becomes a pandemic, according to Moody’s
Analytics Chief Economist Mark Zandi. The odds of that outcome now stand
at 40%, up from 20%, he said in a note.
The threat of a prolonged downturn in growth due to the impact of the virus may keep gold elevated, according to Morgan Stanley. Further ETF inflows are likely as long as real interest rates remain negative, it said in a note.
Posted by AGORACOM
at 12:09 PM on Wednesday, February 26th, 2020
SPONSOR: ZEN Graphene Solutions: An emerging advanced materials and graphene development company with a focus on new solutions using pure graphene and other two-dimensional materials. Our competitive advantage relies on the unique qualities of our multi-decade supply of precursor materials in the Albany Graphite Deposit. Independent labs in Japan, UK, Israel, USA and Canada confirm this. Click here for more information
Graphene is on the cusp of significant market growth; the
opportunities are exciting and diverse, each with significant potential.
Graphene and 2D Materials Europe 2020 (13-14 May, Berlin) is the largest B2B event on the topic with a dedicated focus on the commercial frontiers www.GrapheneEurope.tech
There is often confusion surrounding the types of graphene,
commercial status, and their target markets. This article will briefly
summarise each and showcase what to expect at this event.
Graphene particles (powders and nanoplatelets)
These are the most commercially advanced forms of graphene and are
seeing high-volume applications in energy storage, anti-corrosion
coatings, conductive inks, thermal heat spreaders, and many more. Owing
to fundamental differences, it is realistic to say no graphene in this
category is the same and each application will have different
requirements. Even powders and nanoplatelets should be treated
distinctly with different players, advantages, and potential.
Exfoliation processes predominantly produce graphene nanoplatelets
that can range in lateral size, thickness, surface area and more; these
can vary from “thin-graphite” to just a few layers depending on the
process.
Graphene oxide and reduced graphene oxide powders are typically
made by a modified Hummers approach and can have similar variations to
nanoplatelets.
Within these two approaches there are new techniques being
commercially adopted and other competitive routes emerging. There are
many players, prices, and strategies out there, but the success story is
not guaranteed. There are still fundamental understandings developing,
such as at the interfaces, and the value still to be proven in many
sectors.
The IDTechEx analysts, who curate the agenda, forecast that the
market for graphene producers will exceed $300m within the next decade
with a tipping point rapidly approaching.
Most of this market valuation will be attributed to these
particles. Delegates will hear from global manufacturers, integrators,
and end-users on these nanoplatelets and powders, tackling questions
such as:
“Why is one of the largest graphene orders to date for the
smartphone industry? Could graphene enable the next-generation of
lithium-ion batteries? Or assist the market penetration of supercapacitors?
What about lightweight composite structures? Or enhancing concrete? Why
would it be used for offshore wind turbines? Or pipelines? How can this
be used in printed electronics?”
CVD grown graphene
This “bottom-up” approach to graphene can supply competitive
particles but is more typically used to make wafers or sheets. This is
at a nascent stage of commercialisation and addresses very different
markets.
Initially the opportunity was thought to lie with transistors or
TCFs, but due to a lack of bandgap and challenging incumbents,
respectively, neither were to be successful. However, there are a
plethora of opportunities beyond this utilising the high electron
mobility, high surface area and other notable properties.
Applications on display at the event will notably include
optoelectronics and sensors, with manufacturing discussion as to the
graphene growth, quality and transfer techniques. Delegates will hear
from the status of key players and research institutes as the first
success stories emerge.
Other
There are other, less mainstream, approaches to graphene formation
that again are distinct in the form and ultimate markets. Epitaxial
methods deliver quality graphene on silicon carbide, which lends itself
most notably for sensitive detectors. Again, this family of 2D materials
is addressed at this event.
Beyond Graphene
Beyond graphene there is a huge family of 2D materials (academics
computationally estimating over 6000 variants). The frontrunners are
benefitting from the learning curve but also taking the industry in a
variety of unknown directions, either standalone or as heterostructures.
Players will address this larger family and the growing technology
platform that is 2D materials.
The longest serving event for graphene commercialisation is
increasingly relevant as the material exits the lab and enters the
marketplace. With a 2-day dedicated conference track, parallel tracks
for notable verticals, and a large trade floor, this has become the home
of graphene commercialisation. Join us in Berlin on 13-14 May www.GrapheneEurope.tech
Posted in All Recent Posts, Zen Graphene Solutions | Comments Off on Navigate the Emerging Graphene Market SPONSOR – ZEN Graphene Solutions $ZEN.ca $LLG.ca $FMS.ca $NGC.ca $CVE.ca $DNI.ca
Posted by AGORACOM
at 2:00 PM on Tuesday, February 25th, 2020
Sponsor: Loncor is a Canadian gold explorer that controls over 2,400,000 high grade ounces outside of a Barrick JV. The Ngayu JV property is 200km southwest of the Kibali gold mine, operated by Barrick, which produced 800,000 ounces of gold in 2018. Barrick manages and funds exploration at the Ngayu project until the completion of a pre-feasibility study on any gold discovery meeting the investment criteria of Barrick. Newmont $NGT$NEM owns 7.8%, Resolute $RSG owns 27% Click Here for More Info
There is a dense yellow metal that is currently in the midst
of a global bull market amid the least amount of fanfare that I can
recall. The metal is gold and the bull market is very real and gaining
momentum by the day.
Gold is breaking out to all-time highs in
multiple global currencies including the euro, the British pound, the
Japanese yen, and the Australian dollar etc…
Gold Priced In Australian Dollars (Monthly – 20 Year)
Gold in Aussie dollar terms looks like one of the greatest bull markets of the last twenty years.
Gold Priced In Euros (Monthly – 20 Year)
New all-time high for gold priced in euro terms above 1500 euros per ounce!
Gold Priced In British Pounds (Monthly – 20 Year)
A new all-time high for gold in pound sterling terms!
Gold Priced In Japanese Yen (Monthly – 20 Year)
Â¥184,000 per ounce!
Got
the picture? Gold is experiencing a global rally, and gold in US dollar
terms is the only chart that has yet to make a new all-time recently.
However, a new high for gold in US dollar terms may not be that far
away…
Gold Priced In US Dollars (Monthly – 20 Year)
All of these charts share a similar story of
global currencies losing value relative to the only true store of value
that has stood the test of time, gold.
The US dollar has
recently benefited from its perceived safety and the relative strength
of the US economy compared to the eurozone, Japan, UK etc. The US stock
market has been the envy of the world since the March 2009 bottom with a
more than 400% gain for the S&P 500. However, there are mounting
signs that gold could outperform mega-cap US stocks over the coming
years.
In his brilliant “Paradigm Shift”
blog post, Ray Dalio laid out many of the reasons why he is much less
optimistic on future returns from equities and most forms of debt:
“I
think that it is highly likely that sometime in the next few years, 1)
central banks will run out of stimulant to boost the markets and the
economy when the economy is weak, and 2) there will be an enormous
amount of debt and non-debt liabilities (e.g., pension and healthcare)
that will increasingly be coming due and won’t be able to be funded with
assets. Said differently, I think that the paradigm that we are in will
most likely end when a) real interest rate returns are pushed so low
that investors holding the debt won’t want to hold it and will start to
move to something they think is better and b) simultaneously, the large
need for money to fund liabilities will contribute to the “big squeeze.â€
At that point, there won’t be enough money to meet the needs for it, so
there will have to be some combination of large deficits that are monetized, currency depreciations, and large tax increases,
and these circumstances will likely increase the conflicts between the
capitalist haves and the socialist have-nots. Most likely, during this
time, holders of debt will receive very low or negative nominal and real
returns in currencies that are weakening, which will de facto be a
wealth tax.”
Without delving into Dalio’s thesis
and debating future market returns, I don’t think it’s much of a leap to
look at the following chart and quickly surmise that i’d rather be long
than short:
Gold/S&P 500 Ratio Chart (Monthly – 20 Year)
The gold/S&P ratio peaked in 2011 and
proceeded to enter a seven year bear market correction which bottomed in
2018. If gold has indeed resumed its secular bull market (which new
highs in pretty every global currency appears to be confirming) then we
can expect the gold/S&P ratio to also move higher and eventually
move back above 1.0 (one ounce of gold in USD terms worth more than the
S&P 500 Index). Even a .6 ratio value would mean new all-time highs
for gold in USD terms (at Friday’s S&P 500 closing value of 3,337).
There are a lot of things to like in the above chart, but two stand out to me:
The
monthly 14-period Relative Strength is moving above the median line
after multiple tests of the 50 level in the last several years – this is
characteristic of the early stages of a bull market.
The
gold/S&P 500 ratio retested its initial bull market breakout peak
from early 2003 (~.40) and has spent the last 18 months wedging higher –
this ratio could be on the verge of embarking upon a much more
aggressive upward trajectory.
While gold is up
more than 20% in the last year, we haven’t heard much about it from the
mainstream media. Anecdotally, I don’t hear anyone talking about gold
aside from a small clique of gold bull die-hards and my usual sources on
Twitter and CEO.ca – the people who were
all in on cryptocurrencies in January 2018 and cannabis stocks in
February 2019 are no where near gold right now.
Welcome to the gold bull market of the roaring 2020s, it’s just getting started so why don’t you get comfortable and stay a while….
Posted in All Recent Posts, Loncor | Comments Off on The Gold Bull Market Of The Roaring 2020s Has Just Begun SPONSOR: Loncor Resources $LN.ca $ABX.ca $TECK.ca $RSG $NGT.to $GOLD $NEM
