Posted by AGORACOM
at 8:08 AM on Tuesday, March 23rd, 2021
First Commercial Bank Lending Deal of its Kind For a U.S. Cannabis Company
Harborside Inc. (“Harborside” or the “Company”) (CSE: HBOR) (OTCQX: HBORF), a California-focused, vertically integrated cannabis enterprise, today announced it has entered into a loan financing arrangement with a commercial federally regulated bank (the “Bank“), in the amount of US$12 million (the “Loan“) pursuant to a senior secured revolving credit facility (the “Credit Facility“) due March 2024.
Harborside expects to use the majority of the Loan proceeds to support the purchase of the Company’s 47-acre production campus later this year, which includes 200,000 sq. ft. of licensed cultivation space, including 155,000 sq. ft. of flower canopy space and 45,000 sq. ft. of nursery space in Salinas, California.
“To the best of our knowledge, Harborside is the first cannabis business in the United States to secure a commercial loan of this kind with a traditional lender,” said Tom DiGiovanni, Chief Financial Officer of Harborside. “This deal is the culmination of months of effort and reflects the close working relationship and trust that we have developed with our bank. By significantly lowering our cost of capital, we will be able to better serve our customers, provide high-quality products and invest more heavily throughout California.”
“We are thrilled to solidify our relationship with our bank as they help support our efforts and growth throughout the state of California,” said Matthew Hawkins, Chairman of Harborside. “This Loan is a significant milestone for the entire U.S. cannabis industry and testament to the work that Harborside has done over the last four quarters in an effort to deliver for our customers and shareholders.”
Loan Terms
The Credit Facility has a variable interest rate based on the prime rate charged by the Bank plus a premium, with a floor rate of 5.75%, and will be secured by a first-priority security interest on substantially all of the Company’s assets. As consideration for the Credit Facility, the Company has agreed to, among other things: (i) deliver a commercial security agreement, an assignment of deposit account, and a security agreement in respect of cash collateral to the Bank; (ii) make an upfront cash payment based on the principal amount of the Credit Facility to the Bank as an original issue discount; and (iii) issue 4,100 warrants (the “Warrants“) to the Bank to purchase multiple voting shares (“MVS“) of the Company, which subject to certain conditions, are convertible into subordinate voting shares (“SVS“) of the Company at a conversion rate of 100 SVS for each MVS converted. Each Warrant will entitle the Bank to purchase one MVS of the Company at a price of C$369, at any time prior to March 19, 2023.
The phase II study will assess the efficacy and safety of a new Merck drug for treatment-resistant depression (TRD), a mental health condition that affects approximately 30% of people who suffer from major depressive disorder.
Yaron Conforti, CEO and Director of Novamind said: “Under Dr. Robison’s leadership, Cedar Clinical Research has proven itself as a best-in-class research site for emerging mental health therapeutics. We’re excited to work with Merck, a world-class pharmaceutical company, to advance research for innovative mental health treatments.”
Sit back, relax and watch this powerful interview with Yaron Conforti, CEO and Director of Novamind.
Posted by AGORACOM
at 10:53 AM on Monday, March 22nd, 2021
– One of the largest gold discoveries in decades – Open in all directions and at depth – Exploration to increase in 2021 – Tudor is discovering gold at 1/50th the industry average* – Cost of discovery for AMK is $0 / Ounce – And yet… The Best Is Yet To Come! —————————————————————————————- American Creek Resources (TSX-V: AMK) Tudor Gold (TSX-V: TUD)
American Creek’s JV partner and operator at Treaty Creek, Tudor Gold, just announced a 27 million ounce gold equivalent resource* for the Goldstorm zone. This brings Goldstorm into a World Class category and while a discovery of this magnitude is very rare, Tudor’s VP of Exploration Ken Konkin says he’s just getting started. In the interview he states:
“This is the first page of a great book…I’m very excited about what we may find this year…I’m very optimistic.”
Every American Creek shareholder (and their friends and family) should watch Ken Konkin’s interview. Ken’s discussion highlights the true blue sky potential that Treaty Creek has. Who else in the world has ever said:
“You give me $30M and I’ll give you 30M ounces” [of gold M&I]
In the interview Ken lays out his priorities for the 2021 Drill Program. Priority #1 is to find the extent of the Goldstorm with big step outs then infill and convert as much of the Inferred resource into Measured and Indicated (M&I). Priority #2 is to expand exploratory drilling on the PS2 and Eureka zones.
“See if we can find another 15, 20, 25 million ounce deposit”
2021 at Treaty Creek is going to have more drills, more meters of drilling, convert Inferred resources to Measured & Indicated resources, expand the Goldstorm, develop the Perfect Storm zone, test the Eureka zone, and more. After watching this interview you’ll realize why… The Best Is Yet To Come!
Posted by AGORACOM
at 8:43 AM on Monday, March 22nd, 2021
Five silver bearing north – south structures were intercepted
North – South structures are mineralized
East – West Santa Maria structure returned 14.7 meters grading 44.92 g/t Ag Eq
Fabled Silver Gold Corp. (TSXV: FCO) (OTC Pink: FBSGF) (FSE: 7NQ) (“Fabled” or the “Company”) is pleased to announce assay results of diamond drill hole 6 from the on-going 8,000 meter drill program on the Santa Maria Property in Parral, Mexico.
Peter J. Hawley, CEO and President, remarks, “This completes the results of the fence of drill holes 4,5 and 6 which are located approximately 125 meters to the east of the previous fence of holes 1, 2 and 3 which have been reported.
“Hole SM20-06 was drilled at -50 degrees and 232.0 meters in length and designed to test the various structures in the brittle oxide zone.
“Drill results demonstrate, while we are traversing eastwards the edge of a broad secondary north – south structure trend is starting to be encountered with intermittent silver mineralization within the structural fabric. As shown below in Table 1, five silver bearing north – south structures were intercepted before intersecting the targeted East – West Santa Maria structure which intersected 14.7 meters grading 44.92 g/t Ag Eq at -150 meters.
“Drill hole SM20-04 which was drilled at -60 below hole SM20-06 intercepted a north – south trending fault which displaced the Santa Maria Structure slightly to the south. This displacement is also quite evident in the first priority east to west northern IP anomaly IPSM-04 which has the same offset as we have encountered.
“Further evidence of the north – south trend is found in hole SM20-05 which has not only intersected the edge of Santa Maria structure but has also intersected three additional north – south trending mineralized structures reporting up to 232.08 g/t Ag Eq over 2.20 meters, 162.64 g/t Ag Eq over 0.55 meters and 1.6 meters grading 46.62 g/t Ag Eq before hitting the edge of the displaced Santa Maria structure at -300 meters vertically reporting 53.21 g/t Ag Eq over 7.2 meters.
“These intercepts add weight to the proposed theory that not only do the north – south structures slightly off set the east to west structures but they are more importantly mineralized.
“Re-logging of previously drilled hole SM-17-10 shows it intersected the north – south structures between hole SM20-04 and 05 at right angles to the structure not along the structure and returned1.40 g/t Au, 862 g/t Ag, 934.02 g/t Ag Eq.
“The two fences of drill holes 125 meters apart completes this drill section and adds new structural details to the interpretation on the newly interpreted East – West Santa Maria structure which is clearly defined from surface down to -350 meters vertically, which is the deepest hole ever drilled on the property. The structure remains very conformable and intersected exactly where predicted, which bodes very well for the expansion of Santa Maria and increasing the present NI 43-101 resources on the property with only 5 drill holes drilled to date.
“We expect to see the effect of the North – South structural fabric to become more intense as we move to the next fence of holes a further 200 meters to the east and expected to be in the middle of what is interpreted to be the center of the broad North – South structure intersecting the Santa Maria Structure. If this is the case this will set the stage for further investigation of this area.”
“We are very excited and honoured to be working with one of the world’s leading artificial intelligence institutions. We will now be able to accelerate our innovations and scale our team’s productivity while learning new ways to approach projects with new and unique technologies,” said Michael Lende, CEO of Predictiv AI. “The formalization of this relationship is a crucial building block in our growth plans as it allows us to remain asset-light while simultaneously accelerating innovation on our artificial intelligence and deep machine learning-based solutions. We look forward to a long-term association with Waterloo.AI.”
As part of our ongoing efforts to support Waterloo.AI and its partners, we’re very pleased to share information about an event they will be hosting next week – AI Industry Day on Tuesday, March 25th.
The event will be hosted via Microsoft Teams and will be an interactive and informative online event, enabling Industry to get more acquainted with various AI success stories across multi-sectors of the economy. Catering to diverse interests, attendees will have the option to choose from a menu of topics, with one stream focusing on the use of AI within Advanced Manufacturing. Applicable to all sectors, the keynote speaker will deliver the first-hand experience of “The Journey to Implement AI”, and the importance of “Data” in the future of AI. Morning and afternoon presentations are planned around a mid- day networking event amongst attendees, partners, researchers, and the Waterloo AI Eco-System.
Please feel free to check out the agenda below, click the previous link to discover more information about the event and/or additional details about each presentation, and lastly, make sure to register for the event
– it’s completely free and promises to be fun & informative!
CEO and Director Yaron Conforti talks with Paul Austin, founder of Third Wave, about how Novamind provides safe, legal access to psychedelic medicine today.
Novamind is a leading mental health company enabling safe access to psychedelic medicine through a network of clinics, retreats, and clinical research sites. Novamind provides ketamine-assisted psychotherapy and other novel treatments through its network of Cedar Psychiatry clinics and operates Cedar Clinical Research, a contract research organization specialized in clinical trials and evidence-based research for psychedelic medicine. Both Cedar Psychiatry and Cedar Clinical Research are wholly-owned subsidiaries of Novamind. For more information on how Novamind is enhancing mental wellness and guiding people through their entire healing journey, visit novamind.ca
Posted by AGORACOM
at 10:28 AM on Friday, March 19th, 2021
Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (OTC Pink: TRUFF) (“Red Light Holland” or the “Company“), an Ontario-based corporation engaged in the production, growth and sale of a premium brand of magic truffles to the legal, recreational market within the Netherlands, is pleased to announce that its wholly-owned subsidiary, RLH Netherlands B.V. (the “Purchaser“), has completed the acquisition (the “Acquisition“) of SR Wholesale B.V. (“SR Wholesale“), one of the Netherlands’ premiere distributors for quality psychedelic truffles. In 2020, SR Wholesale generated over $2.44 Million in revenues[1], and over $822,0001 in gross profit, with approximately $400,0001 of cash and working capital currently on hand. SR Wholesale also distributes popular CBD products, cannabis seeds, smart shop items, and headshop products, among others. SR Wholesale has established a distribution network of over 400 companies that sell their products across Europe, including working with sub-distributors which provide products to over 1,000 shops in countries like the Netherlands, Germany, Spain, Czech, Greece, UK, France, and Portugal.
Founded in 2017, SR Wholesale has grown to become one of the most recognized and trusted distribution companies in the Netherlands. In connection with the Acquisition, Red Light Holland is excited to announce that Mr. Shai Ramsahai, Founder of SR Wholesale, has joined the Red Light Holland team on closing as Vice-President to oversee the integration of SR Wholesale into the Red Light Holland ecosystem, and grow the distribution business for Red Light Holland globally. The acquisition will create immediate synergies and enhance Red Light Holland’s growth and expansion strategy by:
Creating the necessary scale to support the growth of the continuing trend towards increased usage of psychedelics, including opening up the distribution channels to hundreds of stores for Red Light Holland’s iMicrodose Packs
Providing access to many new, unique and legendary product offerings within the Psychedelic sector including obtaining sole-ownership of the established Mister Maka Brand (www.MisterMaka.com) which produces Magic Truffles
Giving Red Light Holland the instant opportunity to white-label to help with brand growth, exposure and expansion
Creating new revenue generation opportunities across Red Light Holland’s e-commerce platform at www.iMicrodose.nl
Allowing Red Light Holland to have access to established brands and a vast array of products in sectors outside of Psychedelics, including existing inventory to reach sales opportunities and increased profit margins
Immediately becoming a distribution leader with expertise and know how, while looking to combine the complementary skill sets to focus on increasing SR Wholesale’s market share in the Netherlands and other global markets
Instantly, growing the Red Light Holland infrastructure and staff with current leaders in the psychedelic industry, including Mr. Shai Ramsahai, Founder of SR Wholesale, who will join Red Light Holland as the Company’s Vice-President
Gaining invaluable access to data and personal connections, including a plentiful and important list of email, production, white-label, retail store, retail product and social contacts
“The acquisition of SR Wholesale marks the latest step in the Company’s growth and expansion strategy, as we continue to move forward with a positive business outlook focused on achieving revenue growth, profitability and value creation for our shareholders. We expect this transaction to serve as a launchpad for Red Light Holland to broaden operations, create new homes for our iMicrodose packs and build brand exposure into multiple European markets. Others companies in the sector can keep telling people or assuming how people should consume psilocybin years from now, while we will continue offering people what they want right now, while concentrating on immediate revenue, profit and growth” said Todd Shapiro, the Chief Executive Officer and Director of the Company. “We are quite thrilled, after months of tough negotiations and careful due diligence, to move forward as the largest legal psychedelic distribution publicly traded company in the world.[2] As well, we are truly so pleased to work closely with Mr. Shai Ramsahai, who is one of the brightest, most determined and likeable entrepreneurs I’ve ever come across. And he is an absolute legend in the Netherlands!”
Posted by AGORACOM
at 9:12 AM on Friday, March 19th, 2021
Affinity Metals Corp. (TSX-V:AFF) (FRANKFURT: 34IA) (“the Company” or “Affinity”) is pleased to provide shareholders with an update of the Company’s ongoing exploration initiatives and general corporate activities.
The Company is currently awaiting assay results related to diamond drill programs in 2020 and 2021. Assay wait times have been significantly longer this year due to COVID 19 and increased exploration activities across Canada. Assay results from the Regal Property drill program and the Carscallen Extension Project are pending and the Company expects to receive them soon. Upon receipt of the assay results, the Company’s geological team will compile, verify and interpret the information as soon as possible for public release.
Specific property updates are as follows:
Regal Property: The Regal Property is located near Revelstoke, British Columbia within the northern end of the prolific Kootenay Arc and is south east and on trend with Rokmaster Resources’ Revel Ridge project. A total of 3,442 meters over 19 holes of diamond drilling was completed on Oct. 29, 2020 and core was delivered to the lab shortly after the program was completed. Assays results are pending and are expected to be received very soon. A follow up diamond drill program is being planned and assay results will be utilized to guide additional exploration for the upcoming exploration season.
Carscallen Extension Property: The Carscallen Extension Property is located near Timmons, Ontario and immediately adjoins the Carscallen Project currently being explored under a joint venture agreement between Kirkland Lake Gold Ltd. and Melkior Resources Inc. An initial drill program commenced on Nov. 19, 2020 designed to test a large zone identified by aerial acoustic geophysics on trend with the projected extension of the Shenkman-ZamZam gold system which has been the focus of the Melkior/Kirkland Lake Gold JV. Melkior has reported that the Shenkman-ZamZam zone extends for 800 meters and is open to both the northwest and southeast, as well as at depth. High grade intercepts reported by Melkior on the Carscallen include 23.5 g/t Au over 8.0 meters (Melkior news release 28/11/2019) and 25.7 g/t Au over 6.0 meters (Melkior news release 7/5/2020). To date, three diamond drill holes have been completed totalling 1,850 meters. Initial test samples were sent to the lab while detailed logging of the core was ongoing. Further samples were identified during core logging and have also been sent for assay. Results are pending.
Windfall North Property: Affinity Metals holds a 100% owned mineral property in Quebec, Canada that adjoins Osisko’s world class Windfall Lake project claim holdings. The property resides on the Eastern portion of the prolific Abitibi Greenstone Belt.
Affinity staked the North Windfall claims based on the interpreted northeast trend of the Windfall Lake Fault from the Windfall Lake gold deposit and plans to conduct geological and geophysical data compilation in order to generate drill targets in anticipation of a diamond drill program in 2021.
Rob Edwards, CEO of Affinity Metals, remarks, “As we look into 2021 we are very excited to establish plans for further advancement of our key properties. Unfortunately, assay labs have been plagued with delays as Covid-19 and the volume of exploration has caused a drastic increase in turnaround times from what the industry is accustomed to. The delays of setting a waypoint for 2021 exploration programs will hopefully be short lived as we expect results from the 2020 exploration programs soon.
Additionally, Affinity has good neighbors with good geology surrounding its key exploration properties. Recent developments on these properties bordering Affinity’s properties seem likely to continue to provide added exposure and value to the Company and its shareholders. Specifically, on the Regal Property in BC, Rokmaster Resources has expanded its 2021 Drill Program to 10,000 meters after positive results. The Kirkland Lake/Melkior joint venture in Ontario on the Carscallen Project has been expanded to 6,600 meters of diamond drilling and in Quebec, Osisko Mining continues to prove up their Windfall Project with some extremely encouraging drill results. Affinity and its investors have so much to look forward to in 2021.”
Posted by AGORACOM
at 4:38 PM on Thursday, March 18th, 2021
99.99% of the lithium leached in solution after 5 minutes at low temperature and without applying pressure.
completed EV battery characterization for 5 car makers
Pilot Testing Next
St-Georges Eco-Mining Corp. (CSE:SX)(OTC:SXOOF) (FSE:85G1) (CNSX:SX.CN)is pleased to provide an update on the initial testing phase of an array of electric vehicles batteries it received at its testing installations in Québec.
The Company has completed EV battery characterization for the following car makers: Tesla, General Motors (GM), Ford, Toyota, and Nissan. The batteries were sourced from industry aggregators. The Company’s chemists and metallurgists created synthetic powder clones of the metal’s components allowing the testing’s acceleration.
This is in line with the results obtained previously by the Company’s metallurgical team that was able to leach more than 99% of the cobalt and the nickel contained in the batteries. Furthermore, the aluminium foil used to hold the different metals in the batteries’ core remains intact and can be recycled.
The Company expects to confirm these results via a series of pilot tests as it now is in possession of car makers’ specific testing protocols. Testing will be documented and independently confirmed. The Company expects to initiate the next phase, metals purification, in April. The Company hopes to be able to reduce processing time and increase acid re-usage.
EVSX and St-Georges have also identified some of the key equipment required from industrial equipment manufacturers. They expect to be able to receive the electrolysis equipment during the month of May, allowing the manufacture of lithium hydroxide.
The Company had already disclosed on February 22, 2021, that additional tests to optimize the process of recovery of critical elements were to be conducted using synthetic compounds to move the development along faster. Work is ongoing at multiple locations, speeding up delivery and further protecting intellectual property.
Posted by AGORACOM
at 3:44 PM on Thursday, March 18th, 2021
Gross Proceeds of $3,621,680
Lead order of $1,000,000 from Eric Sprott
Proceeds for Prefeasibility Study on River Valley Platinum Group Metals (PGM) Project, one of North America’s largest undeveloped primary palladium projects
New Age Metals Inc. (TSXV:NAM) (OTC:NMTLF) (FSE:P7J) (“NAM” or the “Company“), is pleased to announce that it has completed a first tranche closing of its non-brokered private placement offering (the “Private Placement”) raising gross proceeds of $3,621,680, with lead order of $1,000,000 from Mr. Eric Sprott.
The Company has issued an aggregate of 22,260,500 units consisting of 20,760,500 non-flow through units (“NFT Units”) at a price of $0.16 per NFT Unit and 1,500,000 flow-through units of the Company (the “FT Units”) at a price of $0.20 per FT Unit.
Each NFT Unit consisted of one common share and one-half of one Common Share purchase warrant of the Company (each whole warrant, a “Warrant”). Each Warrant shall entitle the holder thereof to purchase one additional Common Share at an exercise price equal to $0.20 per share at any time up to 24 months from closing.
Each FT Unit consisted of one flow-through share of the Company that will qualify within the meaning of subsection 66(15) of the Income Tax Act (Canada) (“FT Common Share”) and one-half of one common share purchase warrant (each whole warrant, a “FT Warrant”). Each FT Warrant shall entitle the holder thereof to purchase one Common Share at an exercise price equal to $0.25 at any time up to 24 months closing.
The Company intends to use the net proceeds from the sale of Units towards its exploration and development work on its projects. The primary use of proceeds from this financing will be for the completion of a Prefeasibility Study for the Company’s flagship River Valley Platinum Group Metals (PGM) Project, one of North America’s largest undeveloped primary palladium projects, and for general corporate and working capital purposes. The Company intends to use the net proceeds from the sale of FT Units towards its exploration work on both the Company’s PGM and Lithium divisions. This will include a maiden drill program on the Company’s Lithium Two Project in Manitoba and continued drilling at River Valley.
