Posted by AGORACOM
at 2:44 PM on Wednesday, September 4th, 2019
SPONSOR: Labrador Gold – Two successful gold explorers lead the way in the Labrador gold rush targeting the under-explored gold potential of the province. Exploration has already outlined district scale gold on two projects, including over a 40km strike length of the Florence Lake greenstone belt, one of two greenstone belts covered by the Hopedale Project. Click Here for More Info
Gold hit new all-time highs in multiple currencies
U.S. gold price has yet to follow, but has hit six-year highs
After five years of price consolidation, there is an “unprecedented†foundation for higher gold and silver prices
After hitting new record highs in euros and British pounds, U.S. dollar-based record highs are next, according to Bloomberg Intelligence (BI).
Gold prices had a stellar August, with the metal hitting new all-time highs in multiple currencies as well as reaching fresh six-year highs in U.S. dollars.
“Dollar-denominated gold is likely to follow all-time highs in euro
terms reached Aug. 26 … Despite the trade-weighted broad dollar rallying
about 10% since the start of 2018, dollar-valued gold has increased
15%. Trade tension and diminishing macroeconomic conditions have been
drivers, but increasing stock-market volatility is a primary gold-price
support,†BI senior commodity strategist Mike McGlone wrote in a
September update.
Precious metals are on a very solid footing and are likely just beginning their upward ascension, McGlone wrote this week.
“We expect precious metals to remain the stalwart sector, as moribund
silver and platinum gain buoyancy with the rising gold- and bond-price
tide. A catalyst to reverse the entrenched trends, namely a definitive
U.S.-China trade accord, is unlikely,†he said.
After five years of price consolidation, there is an “unprecedentedâ€
foundation for higher gold and silver prices, McGlone pointed out.
“Markets are in the early days of acknowledging the potential upside
in primary store-of-value, quasi-currency, diversifier assets gold and
silver, in our view. Plunging and increasingly negative bond yields,
central-bank easing, trade and currency wars, elevated debt-to-GDP
levels and a contentious U.S. presidential relationship with the Federal
Reserve are price tailwinds,†he explained.
The biggest threat to the precious metals’ new bull market is a drop
in stock-market volatility, which is looking unlikely at this point,
BI’s report noted.
“The dollar price of gold is on far more stable ground than it was about a decade ago. Some combination of sustained greenback strength and rapid stock-market appreciation should be necessary to suppress the metal’s price … Bottoming with the Federal Reserve’s interest-rate hike in 2015, the gold price appears to be situated for brighter days,†McGlone said.
Posted by AGORACOM-JC
at 3:57 PM on Tuesday, September 3rd, 2019
SPONSOR: Esports Entertainment
$GMBL Esports audience is 350M, growing to 590M, Esports wagering is
projected at $23 BILLION by 2020. The company has launched VIE.gg
esports betting platform and has accelerated affiliate marketing
agreements with 190 Esports teams. Click here for more information
GMBL: OTCQB
———————–
Esports Regulatory Congress to host event in Barcelona
On September 23-24th, the Esports Regulatory Congress will take place at the Renaissance Barcelona Fira Hotel in Barcelona, Spain.
The event will provide opportunities for networking with prominent industry figures and is said to be the first international esports regulations event.
Logo credit: Esports Regulatory Congress
The Esports
Regulatory Congress will bring together more than 200 participants to
get involved in discussions and debates, and to develop a consolidated
set of rules for the industry. Spanning over two days, there will be
over 20 keynotes & panels and over 30 speakers.
Among those speaking are Anna Baumann, Managing Director of Rogue, Chester King, CEO of British Esports Association, Saeed Sharaf, CEO of Esports Middle East, and Andy Miah of University of Salford.
Topics that will be discussed on the first day include:
The future of esports
Governmental recognition of esports
Investments in esports
The protection of esports ingretity
Collegiate esports
Education, scholarships, and certification in esports
The protection of intellectual property
Top esports players & influencers and their responsibilities
Race and gender equality in esports
Communication and collaboration with game publishers
The second day will include the following:
Sponsorship and advertisement in esports
Legal relations between athletes, organisations, authorities
Monetisation in esports and video games
Safety and security
The rise of esports arenas
In attendance
will be esports federations, governing bodies and media representatives,
politicians, legal professionals, athletes, and other figures that work
within the industry.
The Esports
Regulatory Congress is shaping up to be an event you can’t miss if you
want to be in the same room as the above and want to learn more about
the industry and its most pressing topics.
Posted by AGORACOM
at 2:38 PM on Tuesday, September 3rd, 2019
SPONSOR: Advance Gold AAX.v – Advance Gold controls 100% interest in the Tabasquena Silver Mine in Zacatecas, Mexico. A cluster of 30 Epithermal veins have been discovered, with recent emphasis on exploring a large anomaly to drill. Advance also owns 15% of the Kakamega JV attached to Barrick Takeover Offer for Acacia Mining. Click Here For More Info
Uncertainties surrounding U.S.-China trade relations and Britain’s departure from the European Union influencing gold price
The dollar climbed to a more than two-year high against other major currencies, making dollar-denominated gold costlier for investors holding other currencies.
Gold prices held steady on Tuesday as
uncertainties surrounding U.S.-China trade relations and Britain’s
departure from the European Union offset pressure from a stronger
dollar.
Spot gold was up 0.1% at $1,532.48 per ounce but still not far off its more than six-year high of $1,554.56. U.S. gold futures were up 0.8% at $1,541.40.
“We are having a battle right now against multiple layers of
uncertainties in the market and a strong dollar,†Saxo Bank commodity
strategist Ole Hansen said.
“The trade talks between U.S. and
China are going nowhere. The political debacle in the UK with Brexit,
where we are potentially facing another vote before the day is over, is
adding enough underlying support to gold to offset the strength in
dollar.â€
The dollar climbed to a more than two-year high against
other major currencies, making dollar-denominated gold costlier for
investors holding other currencies.
On the trade front, China has
lodged a complaint at the World Trade Organization over U.S. import
duties, trashing the latest tariff actions as violating the consensus
reached by leaders of both countries at a meeting in Osaka.
In
Britain, lawmakers will decide on Tuesday whether to move towards a snap
election when they vote on the first stage of their plan to block Prime
Minister Boris Johnson from pursuing a no-deal Brexit.
But
analysts said that fears of a deceleration in global economic growth,
negative yielding debts around the world and hopes for interest rate
cuts by global central banks also provided support for gold.
“Given this week’s economic calendar is jam-packed with crucial economic
releases that will shape monetary policy expectations for the September
18 Federal Open Market Committee meeting, gold traders are trading very
delicately waiting for more convincing U.S. economic signals,†VM
Markets Managing Partner Stephen Innes said in a note.
Investors
are awaiting the U.S. manufacturing survey by the Institute for Supply
Management (ISM), due at 1400 GMT, for some forward guidance on U.S.
economic conditions.
Federal fund futures implied traders saw a 91% chance of a 25 basis point rate cut by the U.S. Federal Reserve this month.
“Rate cut will happen almost no matter what kind of economic data we’re
going to be presented with from now on until the Fed meeting but any
acceleration to the weaker side could increase the expectations of how
big the cut would be,†Saxo Bank’s Hansen said.
Silver rose 0.2% to $18.48 per ounce. Platinum was up 0.9% at $938.34 per ounce, while palladium gained 0.3% to $1,535.79.
Posted by AGORACOM
at 11:21 AM on Tuesday, September 3rd, 2019
SPONSOR: Gratomic Inc. (TSX-V: GRAT) Advanced materials company focused on mine to market commercialization of graphite products, most notably high value graphene based components for a range of mass market products. Collaborating with Perpetuus, Gratomic will use Aukam graphite to manufacture graphene products for commercialization on an industrial scale. For More Info Click Here
Key players operating in the global electric vehicle
composites market include LANXESS, Hexagon Composites ASA, Solvay Group,
Carbo Tech Composites GmbH, and DowDuPont.
Consume less fuel and they do not pollute the air
Exxon Company has fabricated an all-graphite frame and a glass/graphite hybrid body for its electric vehicles
Electric vehicles are gaining wide
popularity, as they consume less fuel and they do not pollute the air.
An electric vehicle uses one or more electric motors for propulsion.
Governments across the globe are adopting and implementing favorable
policies for promotion of electric vehicles. Composite materials used
for production of various components of electric vehicles improve fuel
efficiency. High strength and low density are two significant features
of composite materials used in electric vehicles. A composite material
used in electric vehicles is generally a combination of two components: a
resin or matrix and a fiber or filler. The growing trend of abolition
of conventional steel and cast iron in vehicles so as to make them
lightweight has led to development of automotive components with
lightweight materials. Due to their resistance to corrosion and fatigue,
composites are more durable and hence, they are expected to last for
the entire lifespan of the electric vehicle. Electric vehicle
manufacturers make use of composite body/chassis components for
extending the lifespan of hybrid electric vehicles as well as battery
electric vehicles.
Increasing usage of lightweight
materials with an aim to reduce carbon dioxide emissions is considered a
major factor driving the electric vehicle composites market. Electric
vehicle composites offer superior strength-to-weight ratio. Development
of battery electric and hybrid electric vehicles offering long travel
distance led by their reduced weight is anticipated to propel the
electric vehicle composites market during the forecast period. Exxon
Company has fabricated an all-graphite frame and a glass/graphite hybrid
body for its electric vehicles, achieving a total weight reduction of
200 lbs. Budd Company, due to its subcontract with Ai Research, has
achieved significant reduction in the weight of parts by using
glass-reinforced polyester. Several electric vehicle manufacturers are
opting for the development of sustainable composite materials for their
automobile components.
In terms of material, the electric
vehicle composites market can be classified into resins and fibers. The
commonly employed resins include polyamide, polyester, epoxy, and
polyurethane. The fibers segment comprises graphene, carbon nanotubes,
glass, and aramids. In terms of structural component, the market can be
categorized into exterior body panels, canter consoles, cross beam
frames, and bumpers. In terms of application, the electric vehicle
composites market can be divided into hybrid electric vehicles, plug-in
hybrid electric vehicles, battery electric vehicles, and fuel cell
electric vehicles.Geographically, the global electric vehicle composites
market can be classified into North America, Europe, Asia Pacific,
Latin America and Middle East & Africa. Various governments across
the globe are promoting use of battery electric vehicles (BEVs) through
high subsidies and tax rebates.
BEVs is the most preferred choice of
electric vehicles in China, which is the prominent market for electric
vehicle composites in Asia Pacific. Advancements in material science and
technology and increasing demand from the automotive industry are
augmenting the electric vehicle composites market in Asia Pacific. North
America is another significant market for electric vehicle composites
across the globe. Tesla, a global leader in electric vehicle
manufacturing, is located in California, the U.S. The electric vehicle
composites market in Latin America and Middle East & Africa is
estimated to expand at a moderate pace during the forecast period, owing
to the recent economic growth in these regions.
Posted by AGORACOM-JC
at 10:35 AM on Tuesday, September 3rd, 2019
SPONSOR:ThreeD Capital Inc. (IDK:CSE)
Led by legendary financier, Sheldon Inwentash, ThreeD is a
Canadian-based venture capital firm that only invests in best of breed
small-cap companies which are both defensible and mass scalable. More
than just lip service, Inwentash has financed many of Canada’s biggest
small-cap exits. Click Here For More Information.
The crypto market cap and bitcoin (BTC) are currently surging above key resistances. Ethereum (ETH), litecoin, ripple, BCH, TRX, XLM, BNB and EOS are also correcting higher.
Bitcoin Cash Price Analysis
BCH price formed a decent support base near the $280 level against
the US Dollar. The BCH/USD pair started a solid upward move and broke
the $290 resistance level. The price is currently up more than 5%, with
an immediate resistance near the $300 level.
If the price surges above the $300 and $305 resistance levels, there
could be more gains in the coming sessions. On the downside, the $290
level may now act as a support in the short term.
Binance Coin (BNB), Litecoin (LTC) and Tron (TRX) Price Analysis
Binance coin (BNB) price is also showing a lot of positive signs and
it recently climbed above the $22.00 resistance area. BNB price is up
around 6% and it is trading above the $22.50 resistance level. The next
key resistances are near the $23.00 and $23.20 levels.
Litecoin price is still facing a lot of hurdles on the upside near
the $68.00 and $70.00 level. LTC price must settle above the $70.00
level to start a decent upward move. On the downside, the main supports
are near the $65.00 and $62.00 levels.
Tron price is slowly moving higher and is trading above the $0.0155
level. An immediate resistance is near the $0.0160 level, above which
TRX price could climb further above the $0.0162 resistance level. The
main supports on the downside are near $0.0152 and $0.0150.
Looking at the total cryptocurrency market cap 4-hours chart,
there solid recovery initiated from the $235.0B support area. The
market cap broke the $240.0B and $250.0B resistance levels to move into a
positive zone. Moreover, there was a break above this week’s followed
bearish trend lines near $248.0B and $252.0B. The market cap is now
placed nicely above $250.0B and the 100 SMA on the same chart.
Therefore, there could be more gains in bitcoin, Ethereum, EOS,
litecoin, ripple, binance coin, BCH, TRX, XMR, XLM and other altcoins in
the near term.
Posted by AGORACOM
at 8:13 AM on Tuesday, September 3rd, 2019
VANCOUVER, British Columbia, Sept. 03, 2019 – Labrador Gold Corp.
(TSX-V: LAB) (“Labrador Gold†or the “Companyâ€) announces that it has
received a request to stop further exploration at its Ashuanipi project
in western Labrador. The request was received following the start of the
Company’s exploration program and subsequent discussions with members
of the Matimekush-Lac John First Nation in Schefferville, Quebec.
Labrador Gold holds, under option, a number of mineral licenses in
western Labrador, south east of Schefferville that cover a portion of a
trapline owned by some members of the Matimekush-Lac John First Nation
and conducted exploration without incident during 2017 and 2018.
“It is unfortunate that discussions to date have resulted in us
having to stop work,†said Roger Moss, President and Chief Executive
Officer of Labrador Gold. “However, we will respect their decision as we
continue discussions with the aim of maximizing benefits for all
stakeholders. The company is committed to maintaining good relationships
with the community as we look to restart our exploration program at
Ashuanipi.â€
Labrador Gold will continue discussions to properly understand the
concerns of the Matimekush-Lac John First Nation and to seek ways in
which we can work with the community in order that our low-impact
exploration does not interfere with their traditional activities.
The Company is also reviewing the Hopedale, Labrador and Borden Lake
Extension, Ontario projects with the aim of conducting further
exploration on one or both of the projects during the remainder of the
field season.
Roger Moss, PhD., P.Geo., is the qualified person responsible for all technical information in this release.
The Company gratefully acknowledges the Newfoundland and Labrador
Ministry of Natural Resources’ Junior Exploration Assistance (JEA)
Program for its financial support for exploration of the Ashuanipi
property.
About Labrador Gold:
Labrador Gold is a Canadian based mineral exploration company focused
on the acquisition and exploration of prospective gold projects in the
Americas. In 2017 Labrador Gold signed a Letter of Intent under which
the Company has the option to acquire 100% of the 896 square kilometre
(km2) Ashuanipi property in northwest Labrador and the Hopedale (458
km2) property in eastern Labrador.
The Hopedale property covers much of the Hunt River and Florence Lake
greenstone belts that stretch over 80 km. The belts are typical of
greenstone belts around the world but have been underexplored by
comparison. Initial work by Labrador Gold during 2017 show gold
anomalies in soils and lake sediments over a 3 kilometre section of the
northern portion of the Florence Lake greenstone belt in the vicinity of
the known Thurber Dog gold showing where grab samples assayed up to
7.8g/t gold. In addition, anomalous gold in soil and lake sediment
samples occur over approximately 40 kilometres along the southern
section of the greenstone belt (see news release dated January 25th 2018
for more details). Labrador Gold now controls approximately 57km strike
length of the Florence Lake Greenstone Belt.
The Ashuanipi gold project is located just 35 km from the historical
iron ore mining community of Schefferville, which is linked by rail to
the port of Sept Iles, Quebec in the south. The claim blocks cover large
lake sediment gold anomalies that, with the exception of local
prospecting, have not seen a systematic modern day exploration program.
Results of the 2017 reconnaissance exploration program following up the
lake sediment anomalies show gold anomalies in soils and lake sediments
over a 15 kilometre long by 2 to 6 kilometre wide north-south trend and
over a 14 kilometre long by 2 to 4 kilometre wide east-west trend. The
anomalies appear to be broadly associated with magnetic highs and do not
show any correlation with specific rock types on a regional scale (see
news release dated January 18th 2018). This suggests a possible
structural control on the localization of the gold anomalies. Historical
work 30 km north on the Quebec side led to gold intersections of up to
2.23 grams per tonne (g/t) Au over 19.55 metres (not true width)
(Source: IOS Services Geoscientifiques, 2012, Exploration and geological
reconnaissance work in the Goodwood River Area, Sheffor Project, Summer
Field Season 2011). Gold in both areas appears to be associated with
similar rock types.
The Company has 56,264,022 common shares issued and outstanding and trades on the TSX Venture Exchange under the symbol LAB.
Posted by AGORACOM-JC
at 8:09 AM on Tuesday, September 3rd, 2019
Combination creates leading publicly traded esports and gaming
organization with $22 million in 2018 pro forma revenue on closing of
the merger backed by $55 million in financing, with combined global
audience reach of approximately 200 million
Merged assets and reach to include eight esports teams
(including management of the Vancouver Titans Overwatch League
franchise), 50+ esports influencers, 85+ gaming media websites, 900+
YouTube and Twitch channels
Enthusiast Gaming’s extensive media network and gamer data,
combined with Luminosity’s championship calibre teams and brand equity,
expected to drive further audience growth
Strategically positioned to leverage Luminosity’s robust
esports brand and its audience through Enthusiast Gaming’s monetization
and ad tech platform
TORONTO and VANCOUVER, British Columbia, Sept. 03, 2019 (GLOBE NEWSWIRE) — J55 Capital Corp. (“J55“) (TSX-V: FIVE.P) and Enthusiast Gaming Holdings Inc. (“Enthusiast“) (TSX-V: EGLX) are pleased to announce that they, along with Luminosity Gaming Inc. (“Luminosity Gamingâ€) and Aquilini GameCo Inc. (“GameCoâ€), have completed their previously announced transactions, as described below, resulting in the formation of the leading publicly traded esports and gaming media organization in North America. The merged entity, to be called Enthusiast Gaming Holdings Inc. (“Enthusiast Gamingâ€), is expected to commence trading on the TSX Venture Exchange (“TSXVâ€) on or about September 9, 2019 under the symbol “EGLXâ€.
Menashe Kestenbaum, President of Enthusiast Gaming, commented, “Our
vision when we founded Enthusiast was to build the largest, vertically
integrated esports and gaming company in the world. The merger with
Aquilini GameCo and Luminosity was a strategic decision that positions
us as a dominant player in the gaming industry and unlocks access to
Luminosity’s 60 million dedicated esports fans and one of the largest
esports franchises. I look forward to working with our new partners to
continue to build and diversify Enthusiast Gaming across the esports,
gaming and entertainment sectors.â€
Enthusiast is party to a long-term management services agreement with
the Vancouver Titans to manage the team which was founded in 2018 and
is competing in its first season in the Overwatch League. Overwatch
League is an esports competition with 20 teams across six countries and
three continents, all centered on the popular first-person shooter game
Overwatch. Enthusiast is also party to a long-term services support
agreement with Vancouver Arena Limited Partnership (“VALPâ€)
pursuant to which VALP will provide Enthusiast with a broad range of
marketing and business support services, including corporate partnership
and selling support, retail support, brand association and marketing
support (to be provided by Canucks Sports and Entertainment), esports
planning and execution, digital and social media support and back office
support.
J55 also announced today a second consolidation (the “Second Consolidationâ€,
which together with the First Consolidation (as defined in the joint
management information circular of J55 and Enthusiast dated July 23,
2019), are herein referred to as the “Consolidationsâ€)
of the issued and outstanding common shares of the merged entity on the
basis of 8 post-First Consolidation J55 Shares for 1 post-Second
Consolidation J55 Share.
Plan of Arrangement
J55 and Enthusiast have completed their previously announced arrangement (the “Arrangement“), pursuant to which J55 has acquired all of the issued and outstanding common shares of Enthusiast (the “Enthusiast Sharesâ€) by way of a plan of arrangement under the Business Corporations Act (Ontario).
Under the terms of the Arrangement, each former Enthusiast
Shareholder received 4.22 post-First Consolidation J55 Shares for each
Enthusiast Share held immediately prior to the Arrangement (the “Consideration“).
It is anticipated that the Enthusiast Shares will be delisted from the
TSXV effective as of the close of trading on or about September 4, 2019.
In order to receive the Consideration, registered shareholders of
Enthusiast Shares will be required to deposit their share certificate(s)
or direct registration statement(s) representing Enthusiast Shares,
together with the duly completed letter of transmittal, with TSX Trust
Company, the depositary under the Arrangement. Shareholders whose
Enthusiast Shares are registered in the name of a broker, dealer, bank,
trust company or other nominee should contact their nominee regarding
the receipt of the Consideration. For more information, contact:
Holders of options to purchase Enthusiast Shares (“Enthusiast Optionsâ€)
may exercise their Enthusiast Options, subject to the adjustments in
accordance with the Arrangement Agreement, to acquire common shares in
the capital of J55 at the same conversion ratio applicable to the
Enthusiast Shares. All other terms governing the Enthusiast Options,
including, but not limited to, the expiry term, vesting and the
conditions to and the manner of exercise, will be the same as the terms
that were in effect immediately prior to the Effective Date.
Warrants to purchase Enthusiast Shares (the “Enthusiast Warrantsâ€), other than those that have been exercised prior to August 30, 2019 (the “Effective Dateâ€),
will continue to remain outstanding as Enthusiast Warrants which, upon
exercise, will entitle the holder thereof to receive, in lieu of the
number of Enthusiast Shares to which such holder was theretofore
entitled upon exercise of such Enthusiast Warrants, the Consideration
that such holder would have been entitled to be issued and receive if,
immediately prior to the Effective Date, such holder had been the
registered holder of the number of Enthusiast Shares to which such
holder was theretofore entitled upon exercise of such Enthusiast
Warrants. All other terms governing the Enthusiast Warrants, including,
but not limited to, the expiry term and the conditions to and the manner
of exercise, will be the same as the terms that were in effect
immediately prior to the Effective Date, and shall be governed by the
terms of the applicable warrant indenture.
Amalgamation of J55 and GameCo Immediately prior to the completion of the Arrangement, J55 completed the acquisition of GameCo (the “Amalgamationâ€, together with the Arrangement, the “Transactionsâ€). The Amalgamation was completed pursuant to the terms and conditions of an amalgamation agreement (the “Amalgamation Agreementâ€)
between J55 and GameCo pursuant to which J55 acquired all of the
outstanding securities of GameCo in exchange for securities of J55. The
Amalgamation constituted J55’s Qualifying Transaction (as defined in the
policies of the TSXV). On closing of the Amalgamation, all of the
issued and outstanding securities of GameCo were exchanged for
corresponding securities of J55 as follows:
each of the 309,572,066 common shares of GameCo (the “GameCo Sharesâ€)
were cancelled and, in consideration thereof, each GameCo shareholder
received one (post-First Consolidation) J55 common share (a “J55 Shareâ€);
each of the 2,181,690 warrants to purchase GameCo Shares (the “GameCo Warrantsâ€)
were exchanged for warrants to purchase the corresponding number of
(post-First Consolidation) J55 Shares on the same terms as those
contained in the GameCo Warrants, and each such GameCo Warrant was
cancelled; and
each of the options to purchase GameCo Shares (the “GameCo Optionsâ€)
were exchanged for options to purchase the corresponding number of
(post-First Consolidation) J55 Shares on the same terms as those
contained in the GameCo Options, and each such GameCo Option was
cancelled.
Immediately prior to the closing of the Amalgamation, J55 completed
the First Consolidation, consolidating its outstanding common shares on
the basis of 1.25 pre-First Consolidation shares for every one
post-First Consolidation share. Convertible debentures of GameCo in the
aggregate principal amount of $10 million were also exchanged for
equivalent convertible debentures of J55 (the “J55 Debenturesâ€)
pursuant to the Amalgamation, but the J55 Debentures were converted
into an aggregate of 22,222,222 J55 Shares at $0.45 per J55 Share
pursuant to the terms of the applicable convertible debenture indenture,
on completion of the Arrangement.
GameCo Acquisition of Luminosity Gaming
Prior to completing the Amalgamation, GameCo completed its acquisition of Luminosity Gaming and Luminosity Gaming (USA), LLC (“Luminosity USAâ€, which together with Luminosity Gaming, is herein referred to as ‘Luminosityâ€) (the “Luminosity Acquisitionâ€).
Luminosity is a globally recognized esports organization founded by
Steve Maida. Luminosity operates in North America and is based in
Toronto, Canada. GameCo completed the Luminosity Acquisition in
accordance with a share purchase agreement dated February 14, 2019
pursuant to which GameCo acquired Luminosity in exchange for the payment
of $1.5 million cash, the issuance of 60 million common shares of
GameCo, and the issuance of a $2.0 million unsecured promissory note.
Immediately following the completion of the Luminosity Acquisition,
the subscription receipts sold pursuant to GameCo’s March 2019
$25,000,200 subscription receipt financing were automatically converted
into common shares of GameCo pursuant to the terms of the financing and
the escrowed proceeds of the financing were released from escrow to
GameCo upon satisfaction of the escrow release conditions.
Second Consolidation and Name Change
The ex-dividend date for the Second Consolidation is September 5,
2019, with the new CUSIP number being made eligible on such date. The
Second Consolidation is effective as of September 9, 2019, and the J55
Shares will be listed on the TSXV on a post-Second Consolidation basis
effective at the opening of the market on such date. Immediately prior
to the Second Consolidation, there were 571,184,323 J55 Shares issued
and outstanding. Following the Second Consolidation, there are
approximately 71,398,036 J55 Shares issued and outstanding. Share
certificates and direct registration statements, as applicable, will be
sent to registered shareholders following completion of the Second
Consolidation reflecting the adjustments to their shareholdings as a
result of the Consolidations, as applicable.
In connection with the Transactions, effective as of September 5,
2019, J55 will also change its name from “J55 Capital Corp.†to
“Enthusiast Gaming Holdings Inc.â€, and change its trading symbol to
“EGLXâ€. Enthusiast will change its name to “Enthusiast Gaming Properties
Inc.†and the Enthusiast Shares will be delisted from the TSXV and the
OTCQB, and Enthusiast will apply to cease to be a reporting issuer.
Senior Management and Board of Directors of the Merged Company
The senior management team of Enthusiast Gaming draws from the
extensive experience and expertise of the merging companies and consists
of:
Chief Executive Officer: Adrian Montgomery President: Menashe Kestenbaum President of Esports: Steve Maida President of EGLive: Corey Mandell Chief Operating Officer and SVP Finance: Eric Bernofsky Chief Financial Officer: Alex Macdonald Chief Information Officer: Meir Bulua
The board of directors of Enthusiast consists of the following seven
directors: Francesco Aquilini (Non-Executive Chair), Adrian Montgomery,
Steve Maida, Menashe Kestenbaum, Alan Friedman, Ben Colabrese and
Michael Beckerman.
Advisors
Canaccord Genuity Corp. acted as GameCo’s exclusive financial advisor
and Norton Rose Fulbright Canada LLP acted as GameCo’s legal advisor in
connection with the Transactions. Haywood Securities Inc. acted as
Enthusiast’s financial advisor, and Stikeman Elliott LLP and Minden
Gross LLP acted as Enthusiast’s legal advisors in connection with the
Arrangement. Clark Wilson LLP acted as J55’s legal advisor in connection
with the Transactions.
Further information about the Transactions and Consolidations is set
forth in the joint information circular of Enthusiast and J55 dated July
23, 2019 which was mailed to the shareholders of Enthusiast and J55,
and which is available under their respective profiles on SEDAR at
www.sedar.com.
ON BEHALF OF THE BOARD OF J55
“Adrian Montgomery†Adrian Montgomery Chief Executive Officer and Director
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking
statements. Forward looking statements consist of statements that are
not purely historical, including any statements regarding beliefs,
plans, expectations or intentions regarding the future. Such statements
are subject to risks and uncertainties that may cause actual results,
performance or developments to differ materially from those contained in
the statements, including risks related to factors beyond the control
of J55 or Enthusiast. The risks include risks that are customary to
transactions of this nature. No assurance can be given that any of the
events anticipated by the forward-looking statements will occur or, if
they do occur, what benefits J55 or Enthusiast will obtain from them.
This press release does not constitute an offer to sell or
solicitation of an offer to buy any of the securities in the United
States. The securities have not been and will not be registered under
the United States Securities Act of 1933, as amended (the “U.S.
Securities Actâ€) or any state securities laws and may not be offered or
sold within the United States or to a U.S. Person unless registered
under the U.S. Securities Act and applicable state securities laws or an
exemption from such registration is available.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this
release.
For further information regarding J55 or Enthusiast, please contact:
Julia Becker Head of Investor Relations & Marketing Telephone: 604-785-0850 Email: [email protected]
Posted by AGORACOM
at 7:38 PM on Friday, August 30th, 2019
SPONSOR: Gratomic Inc. (TSX-V: GRAT) Advanced materials company focused on mine to market commercialization of graphite products, most notably high value graphene based components for a range of mass market products. Collaborating with Perpetuus, Gratomic will use Aukam graphite to manufacture graphene products for commercialization on an industrial scale. For More Info Click Here
A study found that insects changed their behavior around the material.
Graphene, the highly flexible supermaterial used to build solar cells
(and perhaps one day foldable phones), is also a powerful mosquito
repellent. A team of researchers at Brown University discovered
that graphene-lined clothing not only is an effective physical barrier
to mosquito bites, the carbon-based material also changes their
behavior. The study, which was published this week in the Proceedings of the National Academy of Sciences, found that graphene blocked the chemical signals that draw mosquitoes to other living beings in the first place.
“With the graphene, the mosquitoes weren’t even landing on the skin
patch — they just didn’t seem to care,” said Brown Ph.D student Cintia
Castillho, who is the study’s lead author. “We had assumed that graphene
would be a physical barrier to biting, through puncture resistance, but
when we saw these experiments we started to think that it was also a
chemical barrier that prevents mosquitoes from sensing that someone is
there.” In the study, researchers covered the arms of participants in
either graphene oxide films covered by cheesecloth or just cheesecloth.
Those who were covered in graphene didn’t receive a single bite.
Unfortunately, graphene oxide becomes far less effective when wet,
which is exactly the type of environment where mosquitoes thrive.
Scientists found that mosquitoes were able to puncture through graphene
oxide films that were soaked in water. But when they used graphene with
reduced oxygen content (rGO), they discovered it worked as a bite
barrier in both dry and wet conditions.
One drawback is that rGO isn’t breathable, so it’s unlikely to be
used in camping clothing. Scientists hope to find a way to stabilize
graphene so it remains strong when wet. “This next step would give us
the full benefits of breathability and bite protection,” said Brown
University professor Robert Hurt.
If you’re curious about graphene, you won’t have long to wait. Makers of outdoor gear and electronics are already adding graphene to jackets, battery packs, shoes and more.
Posted by AGORACOM-JC
at 5:27 PM on Friday, August 30th, 2019
Repositioning Strategy allows GLN to achieve its objective of being profitable at the earliest opportunity.
Company encourages all shareholders to review the 2019 Deck at their earliest convenience, available at www.glninc.ca.
All other internal projects, including AR blockchain solution and the mPlore acquisition have been put on indefinite hold.
Vancouver, British Columbia–(August 30, 2019) – Â Good Life Networks Inc. (TSXV: GOOD) (“GLN” or the “Company“) would like to advise its shareholders that there has been a significant negative shift within the advertising technology industry, which has a material and significant impact on the current operations of GLN and its two recently acquired companies. As a result, we expect the Q2 and FY2019 financial performance of GLN to be significantly below our previous expectations.
In response to this shift, GLN is proposing a repositioning of its business (the “Repositioning Strategy“) and has created a corporate deck (the “2019 Deck“)
outlining the details of the Repositioning Strategy which includes a
description of GLN’s proposed new business model. The Repositioning
Strategy proposes utilizing the technology GLN has developed to power
customer acquisition for several consumer products and services
including Cannabidiol (“CBD“) products, e-sports
fantasy and other online gambling services. This pivot in the Company’s
business will require minimal working capital and a scaled down team and
will use GLN’s existing technology to gain a competitive advantage.
GLN’s existing technology has been developed over several years and
has been refined to allow robust and high-volume customer identification
and routing for marketing purposes. While the current market has
changed, the usage and effectiveness of our technology has not.
Redeploying our technology in these new markets will give us a
significant customer acquisition advantage.
The Repositioning Strategy allows GLN to achieve its objective of
being profitable at the earliest opportunity. We encourage all
shareholders to review the 2019 Deck at their earliest convenience,
available at www.glninc.ca. All other internal projects, including AR blockchain solution and the mPlore acquisition have been put on indefinite hold.
Changes in Management
GLN announces the following management changes. Chris Bradley has
been promoted to the role of the Company’s new Chief Executive Officer
(“CEO“). Mr. Bradley, who currently serves as GLN’s
Vice President of Technology, will succeed Jesse Dylan, the Company’s
founder and current CEO. Mr. Dylan has been appointed as the Company’s
Chairman. Cliff Dumas has retired as the Company’s Chief Communication
Officer (“CCO“) and Vice President of Operations and Andrew Osis has resigned as the Company’s Chief Financial Officer (“CFO“)
to assume a strategic advisor role in GLN’s Repositioning Strategy
described above. Lastly, Andrew Gibson has been appointed as the Chief
Operating Officer and Mathew Lee has been appointed as the CFO,
effective August 30, 2019.
The incoming CEO has made several immediate changes to management and
employee compensation, starting with a 50% reduction in CEO salary and a
30% reduction in COO salary. All of GLN’s Canadian team members have
accepted a salary reduction of approximately 30%. Management leaving the
company have agreed to waive any and all severance payments.
Discussions will now begin with key stakeholders, starting with
secured creditors, ahead of any likely breach of covenants. GLN is also
in discussion with potential financial resources to assist in the
funding of the pivot outlined here as recapitalization will be required
to fully execute the pivot plan.
About Chris Bradley
Mr. Bradley is an experienced CTO with a decade in AdTech technology
design and architecture. His IT career started with architecting IT
systems for the UK’s first internet bank. After becoming an ad tech
entrepreneur, he built and ran several businesses leading to a sale of
his greeting cards business to Hallmark Cards plc. Chris has built
platforms for some of the icons of the internet, systems that scale and
generate tens of millions of dollars in revenues.
About Mathew Lee
Mr. Lee has over ten years of experience in audit, finance, public
company financial reporting and operations management. He began his
career as a CPA, CA with Smythe LLP and performed financial statement
audits and handled taxation matters for both publicly traded and
privately held entities from January 2007 to December 2014. From
December 2014 to November 2016, Mr. Lee was Manager of Operations for
Raymond James Ltd., one of Canada’s largest independent investment
dealers with revenues in excess of $300 million and assets under
administration in excess of $33 billion. From November 2016 to November
2017, Mr. Lee served as Corporate Controller for AP Capital, a real
estate investment company with assets under management of $150 million.
Since November 2017, Mr. Lee has served as chief financial officer for
multiple TSX-V and CSE listed companies with a focus on cannabis,
mining, and technology. Mr. Lee has expertise in the areas of financial
reporting, budgeting, forecasting, cash management and process
improvement. Mr. Lee holds a Chartered Professional Accountant
designation with a Bachelor of Commerce Degree from the University of
British Columbia.
About Andrew Gibson
Mr. Gibson is a 14-year Ad Tech veteran with expertise in office
management and collections, controlling and managing multimillion-dollar
accounts. Andrew is a lifelong successful entrepreneur, having
successfully built and sold businesses including exiting from a large
security destruction business to publicly listed PHS Plc. His strategic
leadership skills have resulted in high revenue growth and profitability
for the organizations that he has driven forward.
Q2 2019 Financials
GLN would also like to advise that the Q2 2019 Financial Statements
and MD&A filings will be delayed beyond the end of August 31st,
2019. A further update will be issued once a date of release is
confirmed.
Litigation Settlement and Update
GLN also announces that it has fully settled its outstanding lawsuit with Lernalabs Ltd. (“LernaLabs“) and Lerna, LLC (“Lerna LLC“)
by agreeing to paying Lerna the sum of $650,000 USD in full and final
settlement, to be paid by way of a future dated payment plan. The
lawsuit with McMillan LLP remains outstanding.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Forward Looking Statements:
This news release contains
“forward-looking information” within the meaning of applicable Canadian
securities laws (“forward-looking information”) concerning the Company’s
business plans, including, but not limited to, anticipated results and
developments in the Company’s operations in future periods and other
matters that may occur in the future. In certain cases, forward-looking
information can be identified by the use of words such as “will”,
“it’ll”, “opportunity”, “target”, “can reach”, “expects”, “plans”,
“should”, or “future” or comparable terminology. Forward-looking
information contained in this Investor Presentation includes, but is not
limited to, statements regarding: (a) proposed changes to the Company’s
business model (b) the anticipated performance of the Company’s
business and operations; (c) future outlook and goals; and (d) proposed
changes to the Company’s compensation guidelines.
Forward-looking information is not
a guarantee of future performance and is based upon a number of
estimates and assumptions of management in light of management’s
experience and perception of trends, current conditions and expected
developments, as well as other factors that management believes to be
relevant and reasonable in the circumstances, including, without
limitation, assumptions about:
the financial performance of the Company,
future economic conditions;
general economic, financial market, regulatory and political conditions in which the Company operates;
competition;
anticipated and unanticipated costs; and
market prices, values and other economic indicators;
While the Company considers these
assumptions to be reasonable, the assumptions are inherently subject to
significant business, social, economic, political, regulatory,
competitive and other risks and uncertainties, contingencies and other
factors that could cause actual actions, events, conditions, results,
performance or achievements to be materially different from those
projected in the forward-looking information. Many assumptions are based
on factors and events that are not within the control of the Company
and there is no assurance they will prove to be correct. Furthermore, by
their very nature, forward-looking information involves a variety of
known and unknown risks, uncertainties and other factors which may cause
the actual plans, intentions, events, results, performance or
achievements of the Company to be materially different from those
expressed or implied by such forward-looking information. Such risks,
uncertainties and other factors include, without limitation, those
related to:
the ability to obtain financing
needed to fund the continued development of the Company’s business,
including the Repositioning Strategy;
the Company’s ability to manage anticipated and unanticipated costs;
the Company’s inability to maintain or improve its competitive position;
market conditions, volatility and global economic conditions;
industry-wide risks; and
general risks and uncertainties related to the Company’s ‘s prospects and business strategy.
There can be no assurance that
forward-looking information will prove to be accurate, as actual results
and future events could differ materially from those anticipated in
such information. Accordingly, readers should not place undue reliance
on forward-looking information. The Company does not undertake any
obligation to publicly update or revise any forward-looking information
other than as required under applicable securities law. Additional
information identifying risks and uncertainties is contained in GLN’s
filings with the Canadian securities regulators, which filings are
available at www.sedar.com.
Tags: CSE, stocks, tsx, tsx-v Posted in All Recent Posts | Comments Off on Good Life Networks $GOOD.ca Announces Management Changes Including New CEO, New CFO and Outlines New Direction for the Company
