Posted by AGORACOM-JC
at 6:42 PM on Wednesday, October 7th, 2020
Sometimes, you just have to let the numbers speak for themselves. With 165,000 patients, Empower Clinics (CBDT:CSE) (EPWCF:OTCQB) has a database that almost every medical cannabis and CBD company would kill for … but then these numbers came in for the first two quarters:
Revenues $USD 1.7M vs $745,000 = 130% Gain
Patient Visits 12,400 vs 5,500 = 125% Gain
CBDT has now delivered growth in 4 successive financial reports (Q4, FY 2019, Q1 and Q2), so it is safe to say that superstar CEO Steve McAuley can officially claim victory on the turnaround he inherited in 2019.
But he is far from done.
In the last 36 hours, Empower announced:
1. The acquisition of an 8,000 sq ft lab in Dallas (they do everything big over there) that can process 4,000 COVID-19 tests per day. At the lowest price of $USD 80 per test and operating on just 1,000 tests per day, the clinic would deliver $USD 80,000 in revenue PER DAY. We will let you do the math with the combination of higher prices + more tests per day.
2. An agreement to run 1,000 COVID-19 RT-PCR Tests for a major film & TV studio, which could lead to much more business if all goes well with this first batch. To this end, the lab has already processed tests for six different film and television productions since September 1st (prior to the acquisition) and continues to build both confidence and credibility within the industry.
It doesn’t take much to see that the lab has the potential to take Empower to a whole new level. Specifically, if you’re an investor in Well Health (WELL:TSX) and/or CloudMD (DOC:TSXV) you have to start taking a serious look at Empower as the next great potential health and wellness company. It’s already proven solid revenues and growth from its clinics, is expanding its telemedicine practice very nicely and now has the power to quickly generate significant enterprise level revenues from its newly acquired medical diagnostics laboratory … which is already bearing fruit just 24 hours after the acquisition.
Can McAuley pull it off? First consider what he has already accomplished after inheriting a catastrophe of a company in early 2019. Secondly, McAuley is Six Sigma certified under the quality initiative of legendary GE (General Electric) Chairman Jack Welch. We’ve never seen a Six Sigma certified CEO in the Canadian small cap markets. Never …. which explains how McAuley has been able to guide Empower Clinics through the most disruptive retail environment in recent history and turn it into significant growth through Q2 2020 … with some jet fuel now added here in Q4.
And if you MISSED Well Health and CloudMD, you really need to take a close look at Empower as the next great small cap health & wellness company.
Posted by AGORACOM-JC
at 2:25 PM on Wednesday, October 7th, 2020
ImagineAR Inc. (CSE: IP, OTCQB: IPNFF, Forum) is a developer of augmented reality, (AR), platforms that are proving to be transformative for how we engage – and experience – immersive digital marketing campaigns.
This Canadian AR Company recently signed a five-year partnership with the National Football League’s AlumniAcademy to create a custom platform for the Academy to engage and activate players, coaches, and sponsors to connect with football fans around the globe. Adding to this news, the Company just signed a two-year partnership agreement with Valencia CF of Spain’s La Liga league, one of the biggest soccer clubs in the world with seven million social media followers. There is a lot to digest here, and we are joined by Imagine AR CEO Allen Paul Silverrstieen to find out more ….
SH: Thank you for joining us. The Imagine AR platform has immense applications for any business or a sports organization to instantly create their own AR mobile campaigns. So, in general terms, can you just run us through how this works?
APS: Absolutely. We we’ve invested over the years into a self-service AR platform, this AR platform, augmented reality, as you mentioned, allows any company, any business, any person to create an immersive experience on a digital phone targeting either consumers or we specialize also in sports to their fans. So this platform allows companies or teams to utilize their existing content, whether it be movies, images, coupons, whatever, and engage consumers directly in their handset and with today’s environment, a COVID-19, it’s a safe and healthy way with social distancing to excite people, get them involved, build a community and ultimately drive revenue.
SH: So many sports experiences are now virtual. Like you said, a given social distancing guidelines, this could soon become the new norm, correct?
APS: Oh, absolutely. And as you can see from our recent deals, including LA Liga’s team Valencia, they have over 7 million fans worldwide and COVID is certainly impacted them in terms of having any fans in stadium. So, they were looking for an engagement tool to build a community, drive sponsorship revenue, and to keep building out their reputation, their brand. So, Franco Segarra, who is their CIO, we met through, uh, the GSSC, which is a Microsoft sport organization in Spain. He understood AR ready. So, what we did with our platform and immediately saw the opportunity similar to that, you said, it’s going to be the norm. So that is something we’re implementing with him, our AR SDK, which is a software development kit. So our entire augmented reality platform immediately integrates with their existing platform to allow their fans, to share these experiences in social and fully integrating building rewards and other kind of re uh, I guess, programs, custom programs within the RAF and their fans. And it is something we’re pursuing here in North America, which we just announced, as you mentioned, the NFL alumni, starting with the Academy, but also work with a number of other teams as well.
SH: The Academy has a huge task to fill hundreds of vacant spots over a season, all due from injuries. Uh, this really seems to streamline the process.
APS: Yes, we, we do two things with the NFL alumni. It’s a five-year revenue partnership deal. Initially they have the Academy, which they want to be like the minor leagues of NFL. So really between the division one and top colleges and their talent and the NFL to have players who may not be on the roster, but are NFL ready? The Academy just started up and running this week. They’ve got a full camp they’re hand selected. I think it’s somewhere around the mid twenties and players, and we’re providing activations in the locale for them, for the coaches, and then taking it as they continue forward into the NFL. So, it’s a way to really provide a communication platform for these players, as well as most importantly, for the NFL Academy to engage fans as well as the community, as they continue forward. Additionally, imagine you are built a custom platform for the Academy that allows all 32 NFL teams to access. So, when they are looking for a player, whether it’s offense or defense, they can access our platform. We custom built for the Academy, see the videos of players, see the reviews, the comments, and then select players based on what they see. So it’s really an entire religion of that. Initially is going to start with the alumni in the Academy, but we see it growing further with all the chapters they have over 30 plus chapters throughout the United States with players and build out new AR activations with very famous and former players throughout the United States.
SH: Imagine AR also recently appointed a former Portland Trailblazers, CIO, Chris dill, as an advisor to bring your platform to professional sports teams like this. Uh, can we expect more partnerships like this? Like the one with the NFL in the future?
APS: Oh, absolutely. And that’s a good question. So, Chris dill, having him join was a big step for us crystal. I met him about a year and a half at a conference. We were both speaking at, he actually was a moderator. He is really considered one of the top sports tech people in North America. And we’ve been speaking over a year and a half into him. Finally, come in, join our team as an advisor and work with us is a real vote of confidence and validation of our augmented reality platform for the sports industry. We expect to continue to grow with him and his relationships and have partnerships like the NFL alumni like we have with Valencia and through 2020 and beyond to build out sports. But we will be going into other areas. Our platform has the ability to apply, whether it be retail, whether it be property owners, whether it be publishing any type of environment. So, we do expect partnerships similar to the ones we did to date that we’ve announced, which are revenue sharing partnerships over long-term as well as into new vertical markets.
SH: Like we spoke about at the top. Uh, you just signed a two-year agreement with Valencia CF to become an innovation partner and provide your AR platform for a fan activation and engagement. So, being such a popular soccer club, uh, what opportunities could this create for your company?
APS: Well, having them involved, Valencia was a big win for us. A it brought us into Europe, certainly into Spain as well. Obviously, the LA Liga, the league of which Valencia is a part of is significant, has lots of teams and millions and millions and hundreds of millions of fans everywhere. And I think Valencia will become our premier client like the first reference accounts. So we expect it to grow from getting them up and running successful as our proven case to really go into other soccer organizations, not only in Spain, but throughout Europe and the rest of the way,
SH: Bringing sports clubs closer to their fans and introduce these unique experiences, could potentially be applied to just about any sports club.
APS: It’s all about engagement and community. And when you look at sports and certainly, with COVID, a tremendous health issue that we’re going to be facing for certainly the next year, if not longer. And bringing fans back in a stadium teams, got to engage. These fans, keep them excited about the team, keep them updated, build a community. And ultimately at the end of the day, it’s drive revenue. Our augmented reality platform imagine they are. And the SDK allows the teams to engage their fans and sell merchandise, offer discounts and offer unique experiences that can be brought right into the home as well. So we’re excited for starting with sports, but we think sports is going to bring us, the brands is going to bring us other opportunities and other vertical markets, again, not only here in North America, but around the world. And augmented reality is expected to grow significantly. There’s a lot of analysts out there. We follow one analyst in particular, Digi Capitalist. They said, despite COVID 19, they expect the existing market of AR, which is $4 billion to grow to 48 billion in four years. So, we do see a lot of major growth for our platform that we’ve invested in, built in here with sports, but also into entertainment and other areas.
SH: I wanted to ask you about that. When you envision the future of augmented reality and marketing, just as an industry in general, what do you picture?
APS: I think as we go further, mobile AR will continue to grow and expand. You’ve got major companies like Snapchat snap that does a tremendous amount of AR Facebook has gotten in Instagram, has gotten in. So the education hurdles being overcome, there’s a lot of uses and they are, that are starting to grow and out there. This is a big market opportunity in a couple of years, as we’ve heard, and maybe even sooner, uh, Apple’s going to come out with Apple AR glasses. Facebook is committed to Facebook AR glasses. That’s going to be the paradigm shift when people start putting on glasses, which will be tied to their phones through Bluetooth and have AR activations visually wherever they go, whether they’re walking through the middle of a city, they see advertisements, they could see movie trailers have the opportunity to purchase tickets while they’re doing that as well.
That’s going to be the, the real future. And Tim cook, CEO of Apple has been quoted multiple times and conferences. And even most recently, I believe in Ireland, uh, early the Sierra that he believes AR will be the next big thing, just like the mobile phone. So, our expectations are extremely big. We see exponential growth out there. We have a really tight and big sales pipeline and is growing as we speak. And we’re pretty optimistic for our future as the only pure play augmented reality tech company in the market for investors today in North America and around the
SH: Thank you for joining us today, to talk about all things AR in the NFL. It’s really exciting to hear about what you’ve accomplished and what you have coming.
APS: Thank you very much. We appreciate you taking the time. And, uh, we look forward to having the opportunity maybe to speak in a while and discuss some more of the deals and opportunities that we’re bringing to market. Thank you and be safe.
Posted by AGORACOM-JC
at 1:43 PM on Wednesday, October 7th, 2020
Will complete its corporate name change to ZeU Technologies, Inc. effective on or about Thursday, October 15, 2020.
Montreal – October 7, 2020 – ZeU Crypto Networks Inc. (CSE:ZEU) (CNSX:ZEU.CN) announces, following the approval at the annual and special shareholders meeting on August 28, 2020, it will complete its corporate name change to ZeU Technologies, Inc. effective on or about Thursday, October 15, 2020.
The Canadian Securities Exchange listing of the Corporation’s common shares will commence trading under the new name with the same symbol “ZEU” following the issue of the CSE’s bulletin to dealers.
The Corporation’s new CUSIP number will be 98955W108 , and the new ISIN will be CA98955W1086. There is no change to the Corporation’s share structure.
ON BEHALF OF THE BOARD OF DIRECTORS
“Frank Dumas”
Frank Dumas President & CEO
About ZeU
ZeU Crypto is a forward-thinking Canadian technology Corporation which has developed a state-of-the-art blockchain protocol, providing the foundation for the next-generation of crypto networks. Thanks to its high level of sophistication, ZeU’s technology maximises transparency, security and scalability as well as big data management. ZeU’s strategy is to monetise blockchain transactions in diverse sectors such as payment, gaming, data and healthcare.
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
Posted by AGORACOM
at 11:53 AM on Wednesday, October 7th, 2020
Osisko Mining Inc. announced results from the continuing drill program at its 100-per-cent-owned Windfall gold project located in the Abitibi greenstone belt in Urban township, Eeyou Istchee James Bay, Quebec, where step out drilling has expanded high grade gold at Windfall, with 2.4m of 391g/t gold Windfall.
What a great intercept, proof that there is gold at Windfall, and Durango is aiming to prove its own deposits with initial drilling having begun on their 100% owned property.
Durango’s Trove property borders Osisko and is 100% owned
Collars of several holes that have intersected gold are 15km from Osiskos results
Durango has already begun drilling Trove, where Osisko has previously returned 5g/t gold 300 meters from the Trove border with Osisko
Do your DD and read below why Durango might be the next High Grade gold intercept at Windfall Lake
Durango Begins Drilling on Trove Property at Windfall Lake, QC
Vancouver, BC – October 6, 2020 – Durango Resources Inc. (TSXV:DGO) (Frankfurt-86A1) (OTC:ATOXF), (the ” Company ” or ” Durango “) is pleased to report that further to its news release dated September 17, 2020, drilling is now underway on the Trove Property at Windfall Lake, Quebec.
Due to the limited outcrops in the area, Durango has relied to date on surface geochemistry and induced polarization (” IP “) for planning its 2020 drill program. New mechanical stripping on the northeast extremity of the Trove Property has strongly contributed to confirm and more accurately define carbonate-altered pyrite mineralized zones.
Durango has designed the 2020 drill program to test the lithological contacts between the units associated structures and shear zones. The initial drill holes on the Trove Property are planned to confirm a mineralized trend between two drill intersections ( OSK-UB-18-083 intersected 1.03 g/t Au and 5.13 g/t Au, OSK-UB-18-085 intersected 1.85 g/t Au) and to test near surface geophysical targets based on chargeability highs of the IP anomalies conducted in 2019 and coincident with gold in till.
Marcy Kiesman, CEO of Durango, stated, “Durango’s exploration team and drilling crew are excited that drilling has commenced after months of preparation. Surface results to date on the Trove Property have been very promising with the discovery of a sizable northeast shear zone, contact, alteration and quartz veining at surface near the initial drill targets. Within the Trove Property limits, there are no recorded drill holes, so our team is looking forward to drill testing the geophysical anomalies, shear zones and vein structures on the Trove Property.”
The technical contents of this press release were approved by George Yordanov, professional geologist, an Independent Qualified Person as defined by National Instrument 43-101. The Trove Property has not yet been subject to an NI-43-101 report.
Trove, Quebec
Durango owns 100% interest in the Trove claims, which are surrounded by Osisko Mining Inc. (TSX: OSK), in the Windfall Lake area between Val d’Or and Chibougamau, Quebec. The 1,185 hectare property is compelling due to the coincidence of gold found in tills coinciding with magnetic highs, several Induced Polarization anomalies and two faults crosscutting the property. The fault systems north and south of the Trove, control gold mineralization elsewhere, indicating the Trove has excellent exploration potential. Durango received all the final drill permits for the Trove property in September 2019 and is ready to undertake its inaugural drill program.
About Durango
Durango is a natural resources company engaged in the acquisition and exploration of mineral properties. The Company is positioned for discovery with a 100% interest in a strategically located group of properties in the Windfall Lake gold camp in the Abitibi region of Quebec , Canada.
Posted by AGORACOM-JC
at 11:05 AM on Wednesday, October 7th, 2020
SPONSOR: Avicanna (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN) is a Canadian vertically-integrated biopharmaceutical company developing and commercializing various cannabinoid-based products for the global market place. When we say vertically integrated, we mean it. Avicanna has 4 fully operating divisions to address the entire market for Cannabis products. As a Cannabis investor, why limit yourself to a Company with just one specialty, when Avicanna offers you exposure to the entire vertical. Learn More.
Growing Adoption of CBD Pharmaceutical Grade and Wellness Products Having Healthy Impact on Market Growth
Global CBD and CBD oil market revenues are projected to continue to rise significantly in the coming years
Increasing consumer preference for various cannabidiol infused products such as capsules, cannabis oil, beverages, beauty and skincare products, gummies, and dog treats is further anticipated to drive the CBD oil and CBD consumer health market
PALM BEACH, Fla., Oct. 1, 2020– The global CBD and CBD oil market revenues are projected to continue to rise significantly in the coming years. Increasing consumer preference for various cannabidiol infused products such as capsules, cannabis oil, beverages, beauty and skincare products, gummies, and dog treats is further anticipated to drive the CBD oil and CBD consumer health market. Cannabidiol can enter the body in several ways such as vaping, ingesting, smoking, and through the skin. Growing adoption of cannabidiol to manufacture medical drugs and personal care products in states where cannabis is legal is positively impacting the market growth. The legalization of cannabis-based products has provided a remarkable opportunity for the end-user industries to expand. The growing number of research activities, increasing awareness regarding synthetic cannabidiol, and rising strategic investments by companies are expected to contribute to the overall growth through 2027.
Posted by AGORACOM
at 9:58 AM on Wednesday, October 7th, 2020
By Ellsworth Dickson
Nickel is a most useful base metal. Because rust never sleeps, some 75% of nickel produced is used to make stainless steel, most being what is known as Class 2 nickel. Class 1 nickel, or pure nickel, is used for making steel alloys, storage batteries for laptops and cell phones and, of increasing importance, electric vehicle (EV) batteries.
Nickel is part of the cathode in a Li-ion battery. It is these Li-ion batteries that are kick-starting a sea change in the nickel market.
Combining all uses, nickel demand grew 9.4% during 2018 and 2018 – outperforming all other major base metals – making it a US$20 billion per year industry. In 2018, Canadian exports of nickel-based products totaled $4.2 billion with Canada ranking fifth in the world for mine production.
Nickel prices are currently trading around US$14,000/tonne, or US$6.42/lb, up more than 30% from March lows and near its highest levels in November 2019.
And while stainless steel and other nickel usages continue to steadily grow as the world’s population increases, it is the EV market that is expected to see a huge growth in nickel demand, according to senior miner Glencore. For the first time, in 2017, sales of EVs passed the 1 million mark; however, this is just the beginning.
According to the International Energy Agency, (IEA), sales of electric cars topped 2.1 million globally in 2019, surpassing 2018 – already a another record year – to boost the stock to 7.2 million electric cars, 47% of which were in China. It’s hard to believe that in 2010, there were only 17,000 EVs on the road. Electric cars, which accounted for 2.6% of global car sales and about 1% of global car stock in 2019, registered a 40% year-on-year increase.
In their recent report, the IEA stated that nine countries had more than 100,000 electric cars on the road. At least 20 countries reached market shares above 1%. However, this growth has sometimes been disrupted by various events and circumstances that negatively affected EV sales.
Deloitte’s outlook shows EV sales reaching 21 million vehicles in 2030 as the cost of manufacturing batteries falls significantly and range anxiety becomes less of a concern. Another challenge for would-be EV buyers is availability of charging stations out of town and, in tow, lacking of charging stations in older apartment buildings.
This huge increase in EV sales will be even more jump-started with the introduction of electric pickup trucks, SUVs, delivery trucks and semi tractor trailers. This could cause a supply crunch for Class 1 nickel.
Interestingly, the IEA noted that electric two/three-wheelers will continue to represent the lion’s share of the total electric vehicle fleet, as this category is most suited to rapid transition to electric drive. The future electric two/three-wheeler fleet is concentrated in China, India and the ten countries of ASEAN.
Wood Mackenzie predicts an increase in nickel demand for EVs from 128 kt in 2019 to 265 kt in 2025 and 1.23 Mt in 2040, increasing nickel battery demand from 4% in 2018 to 31% by 2040.
It has been estimated that by 2025 the world need almost 1 million tonnes per year of new nickel supply. By 2030, 2.5 million tonnes, or double that of today, is required.
Wood Mackenzie is forecasting an average annual nickel deficit of 60,000 tonnes through to 2027 – a situation that bodes well for nickel explorers, developers and producers.
About one-half of the world’s nickel supply is suitable for use in batteries such as the nickel sulphide mines in Sudbury, Voisey’s Bay and Russia.
Those companies involved in discovering and mining nickel deposits are participating in a massive unstoppable global event with the electrification of the world’s vehicles – a good place to be.
Tartisan Nickel Corp. [TN-CSE; TTSRF-OTC; A2D-FSE] has favourably positioned itself to participate in the growing electric vehicle sector with its advanced-stage Kenbridge nickel-copper-cobalt project in northwestern Ontario.
While copper and cobalt are important for the EV battery and vehicle market, Elon Musk of Tesla Motors recently stated that nickel remains a key ingredient to its rapidly improving EV battery technology. Stainless steel production still accounts for the majority of nickel usage; however, commodity research firm Roskill has stated that the current EV nickel demand will grow from 4% to 15-20% of the market.
Longer term, California Governor Gavin Newsom just signed an executive order that will ban the sale of new gas-powered passengers cars starting in 2025.
Tartisan’s Kenbridge Project, located near Atikwa Lake in the Kenora-Fort Frances area, has undergone an updated mineral resource estimate.
The updated estimates were done for pit constrained and out-of-pit nickel, copper, and cobalt resources. Total Measured & Indicated Mineral Resources, based on a Net Smelter Return (NSR) cut-off value of CDN$15/tonne for pit constrained Mineral Resources and CDN$6/tonne NSR for out-of-pit Mineral Resources is 7.5 Mt at 0.58% nickel and 0.32% copper for a total of 95 Mlb of contained nickel. An additional 0.985 Mt at 1.0% nickel and 0.62% copper (22 Mlb contained nickel) were calculated as Inferred Resources. Pit constrained Measured & Indicated Resources total 5.27 Mt of 0.45% nickel, 0.26% copper and 0.009% cobalt at an NSR cut-off value of CDN$15/tonne. The out-of-pit Measured & Indicated Resources total 2.23 Mt of 0.86% nickel; 0.45% copper; and 0.006% cobalt. Inferred Mineral Resources out-of-pit total 0.985 Mt at 1.00% nickel, 0.62% copper and 0.003% cobalt, at an NSR cut-off value of CDN$60/tonne.
Mark Appleby, President and CEO, notes that the deposit is open to depth with the highest nickel grades having a strong down-plunge orientation such as hole KB07-180 that returned 2.95% nickel and 0.82% copper over 21.5 metres, including 7.2% nickel and 0.67% copper over 5.5 metres.
Highlights of an Updated PEA were: average nickel recovery life-of-mine was 86%; recovered nickel was 84.6 Mlb; NPV7.5% pre-tax was $253M; and IRR% pre-tax was 65%.
The Kenbridge property has good access to roads and power. It has a shaft to a depth of 622 metres, with level stations at 45-metre intervals below the shaft collar and two levels developed at 107 metres and 152 metres below the shaft collar.
Tartisan Nickel has planned a surface exploration and definition drilling plan, in addition to geotechnical, metallurgical and environmental work to advance the project in the upcoming 2020 winter season and into summer 2021.
The company also owns equity stakes in Eloro Resources Ltd. that is exploring the 99%-optioned ISKA ISKA Project, a gold-silver-zinc-lead target with a 3,500-metre underground drilling program underway in the Potosi district, Bolivia, and the low-sulphidation epithermal 82%-owned La Victoria gold-silver project in Peru.
Tartisan is a shareholder in Class 1 Nickel and Technologies that holds the past-producing Alexo-Kelex Dundonald nickel project near Timmins, Ontario in which Tartisan has a 0.5% NSR. The property hosts an estimated total NI 43-101 compliant Indicated Mineral Resources of 571.7k tonnes averaging 0.77% nickel plus Inferred Resources.
Being a prospect generator, Tartisan spun out the Alexco-Kelex Project to Class 1 Nickel as well as the La Victoria Project to Eloro.
Tartisan is a shareholder in Peruvian Metals Corp. that is operating a toll mill in Peru and announced an exploration and bulk sampling program on the high-grade gold-silver-copper Palta Dorada Project.
Tartisan also has a 100% interest in the Sill Lake silver-lead project near Sault Ste. Marie, Ontario.
Tartisan’s investment portfolio is in excess of $7 million which can provide funds for its activities and avoids share dilution through further share issuances. The company has 101.6 million shares outstanding.
Though its acquisitions and investments, Tartisan Nickel is poised to benefit from the burgeoning EV battery sector as well as its precious metal and base metal prospects.
Garibaldi Resources Corp. [GGI-TSXV; GGIFF-OTC; RQM-FSE] has been following up its 2017 magmatic nickel massive sulphide discovery in the Golden Triangle region of northwestern British Columbia.
Located on Nickel Mountain, the flagship E&L deposit hosts nickel, copper, cobalt, platinum, palladium gold and silver. The latest drill results from the 2020 program have extended the strike length of the mineralized E&L system from 200 metres to over 650 metres to the east, where the intrusion remains open.
The 100%-owned project is the Golden Triangle’s first magmatic nickel-copper-rich massive sulphide system in the heart of the prolific Eskay Camp. The 2017 discovery drill hole EL-17-14 intersected 8.3% nickel, 4.2% copper, 0.19% cobalt, 1.96 g/t platinum, 4.5 g/t palladium, 1.1 g/t gold and 11.1 g/t silver over 16.75 metres starting 100.4 metres downhole, within a broader 40.4-metre core length highlighted by 3.9% nickel and 2.4% copper.
In February, 2019, Garibaldi confirmed an even shallower new zone (Northeast Zone) with drill hole EL-18-33 that returned 7.7% nickel and 2.95% copper over 4.8 metres within a broader interval of 49 metres grading 1.34% nickel and 0.89% copper (core length) plus cobalt, platinum, palladium, gold and silver credits.
Diamond drilling continues to build out on the persistent widespread nickel-copper mineralization, which includes massive sulphides featuring top-tier nickel-copper grades in addition to palladium, platinum, cobalt, gold, silver and strategic PGE (platinum group element) rare metals, including rhodium.
Hole EL-20-88, collared 350 metres east of pivotal hole EL-19-80, intersected 142.79 metres of mineralized taxitic gabbro and olivine pyroxenite along trend of the E&L system. This large step-out hole exhibited an E&L geochemical signature which expanded the strike length of the E&L gabbroic intrusion to over 650 metres within a 2-km structural corridor that remains untested and open.
Hole El-20-89 has produced the widest mineralized intercept so far from 71.34 metres to 223 metres returning nickel-copper mineralization over 151.6 metres grading 0.56% nickel and 0.61% copper. This intersect included 80.53 metres of 0.88% nickel and 0.85% copper, which expanded the northeastern massive sulphide zone six metres south, the LDZ 15 metres north and the Second Chamber 45 metres west.
Semi-massive veins along the contact edge with sediments assayed 0.33 metres (100.54 to 100.87 m) of 6.87% nickel and 1.69% copper, and 0.15 metres (147.48 to 147.63 m) of 3.04% nickel and 1.62% copper.
Garibaldi has drilled 10 additional holes at the E&L project on Nickel Mountain and is up to hole 94 so far this season. With new geochemical and geophysical targets located at depth, the immediate goal of the drill program is to follow the steeply-plunging E&L gabbro to the east. The conductors detected off hole will be drill tested for mineralization.
Garibaldi owns 100% of more than 200 km2 in Eskay Camp, including newly discovered high-grade gold quartz vein system at Casper, located 15 km north of Nickel Mountain. Assays are pending. The company also has four projects in Mexico.
Garibaldi’s nickel discovery is a unique development in the Golden Triangle with excellent potential for significant expansion at a time of increasing nickel demand from the electric vehicle market.
Just 12 km north of the E&L nickel deposit is Garibaldi’s 100%-owned Casper high-grade gold quartz vein discovery. The Casper gold vein is a strategic low elevation target (420 metres) within a km of road access and hydroelectric power.
Field crews collected 165 samples within 250 metres north of and 250 metres south of the northwest-southeast-striking Casper vein. High-grade grab samples at Casper were reported up to 249 g/t gold and assays for 86 Casper channel samples have been released with up to 92 g/t gold and 5.69 g/t gold over 52 metres.
Mechanical trenching at the Casper gold quartz vein has further uncovered the high-grade vein over more than 120 metres, from the initial 43 metres of hand trenching exposing the discovery.
The quartz vein remains open with mineralized rock samples extending along trend for 330 metres within a 500-metre gold-in-soil and MMI (mobile metal ion) geochemical anomaly.
The latest assays from 61 channel sample assays returned gold grades ranging from 0.676 g/t gold up to 93.29 g/t gold from a channel sample that contained visible gold.
The company has 116 million shares outstanding.
Sama Resources Inc. [SME-TSXV; SAMMF-OTC.PK] is a Canada-based mineral exploration and development company with projects in West Africa, in particular, the Samapleu nickel-copper-cobalt-platinum group metals project in Côte d’Ivoire (Ivory Coast).
Sama’s projects are located approximately 600 km northwest of Abidjan in Côte d’Ivoire and adjacent to the Guinean border in West Africa.
In 2010, Sama discovered nickel-copper-PGE mineralization, including veins and lenses of high grades material near surface at numerous locations within the then discovered Yacouba intrusive complex.
In October, 2017, Sama announced that it had entered into a binding term sheet in view of forming a strategic partnership with HPX TechCo Inc., a private mineral exploration company in which mining entrepreneur Robert Friedland is a significant stakeholder, in order to develop the Samapleu Project. HPX is spending $18 million on the project.
Since March 2010, Sama has performed surface IP and Mag surveys as well as Airborne Mag-Radiometric and HTEM surveys and 388 boreholes for a total of 54,000 metres of drilling. Mineral resources assessments have been completed at one site, the Samapleu deposit, aiming for a modest scale Ni-Cu open pit mining and processing operation, while continuing to explore newly discovered prospective ground. Sama’s objective is to delineate massive sulphide reservoirs that could be the source of these high-grade nickel–copper-cobalt-palladium lenses. The newly discovered Yacouba complex can be compared to other world class bases metals camps like Jinchuan in China and Voisey’s Bay in Canada, etc.
Highlights of a Preliminary Economic Assessment at Samapleu, include average annual production of 3,900 tonnes of carbonyl nickel powder, 8,400 tonnes of carbonyl iron powder and 14,100 tonnes of copper concentrate over a 20-year mine life. Capital costs are estimated to be $282 million, including a contingency of $37 million with operational costs of $23.96/tonne milled.
Pre-tax Net Present Value (8% discount rate) is $615 million and an Internal Rate of Return of 32.5%. After-tax NPV (8% discount rate) of $391 million and an after-tax IRR of 27.2%.
Geophysical activities have resumed with downhole electromagnetic surveys planned in four deep drill holes at the Yepleu target zone and in one deep drill hole at the Bounta target zone. The holes at Yepleu and Bounta were drilled in the early months of 2020, with both zones part of the large Yacouba Ultramafic-Mafic intrusive complex discovered by Sama in 2010.
Future production will be managed by a JV controlled 66⅔% by Sama Nickel Corp. a wholly-owned subsidiary of Sama Resources, and 33⅓% by SODEMI. Sama Resources has $2.5 million in its treasury and holds $12.4 million in securities with no debt. The company has 216,466,410 shares outstanding.
The Samapleu nickel-copper-cobalt-platinum group metals project is located in mining-friendly West Africa, home to a number of successful mining operations. The polymetallic project hosts a suite of metals – nickel-copper-cobalt-platinum group metals – all of which are currently in demand.
Posted by AGORACOM-JC
at 9:18 AM on Wednesday, October 7th, 2020
Taken the next step in its growth strategy by executing a letter of intent dated October 1, 2020 to acquire Volcanic Media Inc., a leader in scholastic and grassroots Canadian esports
Volcanic was founded in 2018 and is the creator of the National Esports Scholastic League, a first of its kind initiative that works directly with school districts and educators to create various esports initiatives
To date Volcanic has worked with over 1000 high school students in 13 different cities spanning 6 school districts
Acquisition is expected to drive over 200,000 new users to TGS through scholastic leagues, tournaments, and in-class programs
VANCOUVER, BC, Oct. 7, 2020 – TGS Esports Inc. (“TGS” or the “Company“) (TSXV: TGS) is pleased to announce that it has taken the next step in its growth strategy by executing a letter of intent dated October 1, 2020 (the “LOI“) to acquire Volcanic Media Inc. (“Volcanic“), a leader in scholastic and grassroots Canadian esports (the “Acquisition“).
Volcanic was founded in 2018 and is the creator of the National Esports Scholastic League, a first of its kind initiative that works directly with school districts and educators to create various esports initiatives. To date Volcanic has worked with over 1000 high school students in 13 different cities spanning 6 school districts.
Volcanic has been at the forefront of scholastic esports including awarding high school esports scholarships and creating inter-district high school esports leagues, both firsts of their kind in Canada. Volcanic have also started work on indigenous esports efforts, previously working with Binche Keyoh First Nations for pilot esports programs.
Following the closing of the Acquisition (the “Closing“), TGS is also proud to announce that, as part of this new partnership, all high schools looking to utilize Volcanic will be able to do so absolutely free with no fees paid by schools or students. Interested schools can reach out to Shawn Caldera: [email protected].
Acquisition Highlights
The Acquisition is expected to drive over 200,000 new users to TGS through scholastic leagues, tournaments, and in-class programs.
The new users will feed into TGS’ online platform, Pepper Esports, which adds to TGS’ overall strategy of having one central ecosystem that creates an unparalleled esports experience.
The Acquisition has the potential to put TGS at the forefront of High School esports in Canada and offer TGS an all new scholastic division led by Shawn Caldera and JP Perez of Volcanic.
“We have been working with Shawn and his team for some time now and it made perfect sense to bring Volcanic into the fold,” said Spiro Khouri, CEO of TGS. “Thirty percent of all gamers are under the age of 181 and that number is growing. By introducing that demographic to TGS it allows them to interact with us early and stay a part of our ecosystem beyond High School.”
“Volcanic was created to provide high quality esports events in the scholastic space. In this regard, the agreement with TGS will allow us to take Volcanic to the next level and work with students not only in High School but beyond,” said Shawn Caldera, President of Volcanic.
The LOI sets out the principal terms on which the parties have agreed to complete the Acquisition. The parties have agreed to negotiate in good faith to formalize a definitive agreement (the “Definitive Agreement“) on or before October 30, 2020, and to consummate the Acquisition on or before November 30, 2020.
On Closing, the Company will acquire all of the issued and outstanding common shares of Volcanic (the “Volcanic Shares“) in exchange for a purchase price of $240,000 (the “Purchase Price“). The Purchase Price will be payable by the issuance of such number of common shares of TGS (each, a “TGS Share“) that is equal to the relevant payment (collectively, the “Consideration Shares“), which Consideration Shares will be subject to certain mutually agreed upon terms of escrow.
The Consideration Shares will be distributed upon each of the following milestones being achieved: 40,000 on the Closing; $10,000 on the date that 10,000 new users are registered on Pepper Esports Inc.’s (“Pepper“) esports platform or any other TGS platform as a result of contracts entered into by Volcanic; $30,000 on the date that 40,000 total new users are registered on Pepper’s esports platform or any other TGS platform as a result of contracts entered into by Volcanic; $30,000 on the date that 70,000 total new users are registered on Pepper’s esports platform or any other TGS platform as a result of contracts entered into by Volcanic; $30,000 on the date that 100,000 total new users are registered on Pepper’s esports platform or any other TGS platform as a result of contracts entered into by Volcanic; $50,000 on the date that 150,000 total new users are registered on Pepper’s esports platform or any other TGS platform as a result of contracts entered into by Volcanic; and $50,000 on the date that 200,000 total new users are registered on Pepper’s esports platform or any other TGS platform as a result of contracts entered into by Volcanic.
Subject to the approval of the TSX Venture Exchange (“TSXV“), the Consideration Shares will be issued at a deemed price equal to the Discounted Market Price (as defined in the policies of the TSXV) of the TGS Shares on the date of issuance of the Consideration Shares based on the Volume Weighted Average Price of TSXV’s share price in the ten (10) trading days prior to the relevant payment date. The discount applicable to the Consideration Shares shall be the lesser of 25% and the maximum discount applicable under the policies of the TSXV on the date of issuance of the Consideration Shares.
On Closing, it is anticipated that each of Shawn Caldera and JP Perez will enter into consulting agreements with TGS pursuant to which they will serve the Company as Scholastic Esports Director and Scholastic Esports Manager respectively.
The Acquisition is expected to constitute a “Reviewable Transaction” as defined in TSXV Policy 5.3 – Acquisitions and Dispositions of Non-Cash Assets and is therefore subject to the prior approval of the TSXV. No finder’s fees are payable in connection with the Acquisition. Following the Closing, Volcanic will become a wholly-owned subsidiary of the Company.
Completion of the Acquisition remains subject to a number of conditions, including: (i) the approval of the Acquisition by the shareholders of Volcanic, (ii) the completion of satisfactory due diligence, (iii) the approval of the boards of directors of the Company and Volcanic, (iv) the execution of the Definitive Agreement, (v) obtaining all required consents, waivers and approvals, including the approval of the TSXV, and (vi) other closing conditions customary for transactions of this nature.
About Volcanic Esports Inc.
Volcanic Media Inc. is a private British Columbia esports and digital media startup. Volcanic is a leader in esports growth in Canada, running the National Esports Scholastic League, where students compete for post-secondary scholarship funding. Volcanic also acts as a gateway for digital creators, gamers and media enthusiasts for their future careers. Volcanic works with tech accelerators, tech businesses and educators to help foster grassroots community engagement through Volcanic’s ATLAS platform; a powerful esports engagement platform helping to ensure no esports enthusiast is left behind.
About TGS Esports Inc.
TGS Esports Inc. is an esports organization focused on providing an unparalleled esports experience through its expertise in online and in-person event management, broadcast production, and Pepper Esports tournament software. TGS is the owner of Canada’s first dedicated esports arena, The Gaming Stadium, located in Richmond, British Columbia, which opened in June 2019. The Gaming Stadium hosts regular online tournaments as well as provides high quality broadcast production for any event. For more information, visit www.thegamingstadium.com.
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.
On behalf of the Board of Directors
“Spiro Khouri“
Spiro Khouri, CEO TGS Esports Inc.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Company. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future, including with respect to: Shawn Caldera and JP Perez joining the TGS team, that the Acquisition will increase the number of TGS users and, in turn, feed into TGS’ online platform, that the Acquisition will allow the Company to keep players within its ecosystem, that the Acquisition has the potential to put TGS at the forefront of High School esports in Canada, the execution of the Definitive Agreement and the terms of such Definitive Agreement, the completion of the Acquisition and the acceptance of the Acquisition and terms thereof by the TSXV. 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 the Company. The risks include the following: the unknown magnitude and duration of the effects of the COVID-19 pandemic and other 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 the Company will obtain from them.
This press release is not an offer of the securities for sale in the United States. The securities have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an exemption from registration. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.
Posted by AGORACOM-JC
at 9:08 AM on Wednesday, October 7th, 2020
Since launching locally made non-medical masks in April of 2020, PK Beans has worked with local partners, as well as their manufacturing partners overseas, to support customers and provide entire families with mask options that have kids in mind for comfort and safety
To date, PK Beans has sold 5,310 masks resulting in $56,443.42 of revenue for the Company. Masks have accounted for 12.9% of units sold since April 10, 2020 and 10% of all orders
Vancouver, British Columbia–(October 7, 2020) – Peekaboo Beans Inc. (OTC Pink: PBBSF) (“PK Beans” or the “Company”), a responsible and innovative children’s apparel brand, is pleased to offer an update on their mask program. Since launching locally made non-medical masks in April of 2020, PK Beans has worked with local partners, as well as their manufacturing partners overseas, to support customers and provide entire families with mask options that have kids in mind for comfort and safety.
To date, PK Beans has sold 5,310 masks resulting in $56,443.42 of revenue for the Company. Masks have accounted for 12.9% of units sold since April 10, 2020 and 10% of all orders.
To help meet the strong demand for masks, PK Beans has received $100,000 in funding to build out a 6-month robust mask program. Along the initial sales goal and continued re-investment of these profits, to meet supply and demand, the estimated revenue potential is upwards of $750,000. The loan will be paid back from proceeds of the sales on a monthly basis.
“Here at PK Beans, we are always committed to giving back to our community and supporting families,” says CEO Traci Costa “We quickly saw a need to help keep our communities safe, and continue to support children and families by providing a non-medical mask that is comfortable to wear, just like our clothing. This loan will help facilitate a short-term supply and demand for masks in the marketplace while we continue to grow the core business through our omni channel.”
About Peekaboo Beans Inc.
PK Beans is an innovative children’s apparel brand with a focus on environmentally responsible clothes that are intentionally designed to inspire play. Through an omni-channel approach, Peekaboo Beans engages sellers through social platforms, including Instagram and Facebook, as well as online retailers, to maximize revenue and build brand loyalty. The Company works to promote a playful lifestyle for children by designing comfortable clothes that are built to last.
On behalf of the Board of Directors, Peekaboo Beans Inc.
Ms. Traci Costa, President and CEO (604) 279-2326
For more information, please contact the Company at: [email protected] 1-604-279-2326
Reader Advisory
This news release may include forward-looking information that is subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward-looking. Although the Company believes the expectations expressed in such forward-looking information are based on reasonable assumptions, such information is not a guarantee of future performance and actual results or developments may differ materially from those contained in forward-looking information. Factors that could cause actual results to differ materially from those in forward-looking information include, but are not limited to, fluctuations in market prices, successes of the operations of the Company, continued availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Posted by AGORACOM
at 8:28 AM on Wednesday, October 7th, 2020
Lomiko Metals Inc. (“Lomiko”) (TSX-V: LMR, OTC: LMRMF, FSE: DH8C) is focused on the exploration and development of graphite for the new green economy. Lomiko has been monitoring actions by government in Canada and the USA that are focused on reducing dependence on Chinese supply of graphite, lithium and other electric vehicle battery materials. Canada and the USA have worked closely and confirmed supply agreements between the two countries.
This press release features multimedia. View the full release here:
“…the United States is 100 percent reliant on imports for graphite, which is used to make advanced batteries for cellphones, laptops, and hybrid and electric cars. China produces over 60 percent of the world’s graphite and almost all of the world’s production of high-purity graphite needed for rechargeable batteries.”
“(i) the United States develops secure critical minerals supply chains that do not depend on resources or processing from foreign adversaries;
(ii) the United States establishes, expands, and strengthens commercially viable critical minerals mining and minerals processing capabilities; and
(iii) the United States develops globally competitive, substantial, and resilient domestic commercial supply chain capabilities for critical minerals mining and processing.”
In September, Congressmen Lance Gooden (R-TX) and Vicente Gonzalez (D-TX) recently introduced a bill that seeks to decrease the U.S.’s dependence on China for critical metals. The bill, dubbed the Reclaiming American Rare Earths (RARE) Act, aims to establish tax incentives for domestic production of rare earths.
The Congressmen statement sounds the alarm regarding critical metals production: “The United States is more dependent than ever on the importation of the resources that drive our economy, enable us to build advanced technology, and ensure our national security,” Gooden’s office said in a release. “Thirty-five of these rare earth minerals are designated by the Department of Interior as ‘critical’, and we source fourteen of them entirely from foreign suppliers. China is a leading supplier for twenty-two of the thirty-five. The RARE Act is specifically designed to change that.”
Earlier this year, Sen. Ted Cruz introduced similar legislation, dubbed the Onshoring Rare Earths Act of 2020, or ORE Act. Further, on December 18, 2019 Canada announced that it had joined the U.S.-led multilateral Energy Resource Governance Initiative (ERGI). ERGI aims to support secure and resilient supply chains for critical minerals by identifying options to diversify supply chains and facilitate trade and industry connections.
Canada, and especially Quebec, are perfectly situated to supply the U.S. with many of the critical minerals it is seeking to secure due to an extensive selection of mineral projects. Also, strong political and economic ties, a stable political, economic and regulatory environment and a robust metals and mining sector. Of the 35 critical metals identified by the U.S., Canada is a sizable supplier of 13 of such minerals including graphite, lithium and manganese to the U.S. and the second-largest supplier of niobium, tungsten and magnesium. Canada also supplies approximately one quarter of the U.S. uranium needs.
“Initial indications are that La Loutre Graphite Property is high-quality and high-grade and thus worthy of development.” stated A. Paul Gill, CEO. “The only operating graphite mine in North America which is the Imerys Graphite & Carbon at Lac-des-Îles, is 30 miles northwest of La Loutre and has operated for 30 years. It reported proven reserves of 5.2 M Tonnes at a grade of 7.42 % Cg in July 1988 before the start of production.” (Reference: Potentiel de la minéralisation en graphite au Québec, N’Golo Togola, MERN, page 31, Conférence Québec Mines, November 24 2016).
Graphite demand is expected to increase exponentially for the mined natural graphite material, as more is used in the production of spherical graphite for graphite in the anode portion of Electric Vehicle Lithium-ion batteries. The near-term goals of the company are as follows:
1) Complete 100% Acquisition of the Property, currently 80% owned by Lomiko Metals.
2) Complete metallurgy and graphite characterization to confirm li-ion anode grade material.
3) Complete a Technical Report to confirm the extent of the mineralization equals or surpasses the nearby Imerys Mine, owned by international mining conglomerate.
A “technical report” means a report prepared and filed in accordance with this Instrument and Form 43-101F1 Technical Report, and includes, in summary form, all material scientific and technical information in respect of the subject property as of the effective date of the technical report;
4) Complete Preliminary Economic Assessment (PEA)
A PEA means a study, other than a pre-feasibility or feasibility study, that includes an economic analysis of the potential viability of mineral resources.
We seek safe harbor. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), accept responsibility for the adequacy or accuracy of this release.
Posted by AGORACOM-JC
at 7:14 AM on Wednesday, October 7th, 2020
Entered into an agreement to acquire the intellectual property assets of Digital2Go Media Networks, Inc., d/b/a Locally.io, a global leader in location data intelligence and real-time consumer engagement
With over 50 billion location signals collected so far, Locally has helped well-known brands and companies such as Ford, BMW, Wyndham Resorts, Calvin Klein, Kroger, Chipotle, Napa Auto Parts, 7-11 access deep consumer behavioral insights across all their verticals.
The Locally solutions help businesses connect their physical and digital worlds by providing mobile location insights and marketing integration capabilities
VANCOUVER, British Columbia, Oct. 07, 2020 — Loop Insights Inc. (MTRX:TSX.V RACMF:OTCQB) (the “Company” or “Loop”) a provider of contactless solutions and artificial intelligence (“AI”) to drive automated marketing, venue tracing, and contactless solutions to the brick and mortar space, announces that it has entered into an agreement to acquire the intellectual property (“IP”) assets (the “Agreement”) of Digital2Go Media Networks, Inc., d/b/a Locally.io (the “Vendor” or “Locally”), a global leader in location data intelligence and real-time consumer engagement.
Locally had established itself as a premier provider of location and human movement intelligence data. The Locally solutions help businesses connect their physical and digital worlds by providing mobile location insights and marketing integration capabilities. With over 50 billion location signals collected so far, Locally has helped well-known brands and companies such as Ford, BMW, Wyndham Resorts, Calvin Klein, Kroger, Chipotle, Napa Auto Parts, 7-11 access deep consumer behavioral insights across all their verticals.
THE LOCALLY IP ACQUISITION TO POSITION LOOP AS A LEADER IN ONLINE AND ON-PREMISE REAL-TIME DATA MONETIZATION
By combining the Loop and Locally technology stacks, existing and future Loop customers will benefit from enhanced location and mobile data insights, additional targeted marketing capabilities, and new revenue streams via data monetization with brands, marketers, large enterprises, financial institutions, and more. Additionally, the worldwide COVID19 pandemic has driven incredible demand for such location intelligence capabilities to inform contact tracing, safety and security protocols, and reopening of business across all verticals.
LOOP TO REMAIN ON THE OFFENCE AS A RESULT OF STRONG CASH POSITION
As a result of COVID19, many tech companies have struggled to raise capital. Loop has greatly benefited from two successful completions of private placements and has further bolstered its cash position through the most recent exercise of warrants. Loop is extremely well positioned and is currently exploring multiple other merger and acquisition opportunities to expand new revenue channels.
Rob Anson, Loop’s President & CEO, comments: “The Locally IP acquisition is a significant strategic move as the company continues to build our Loop Data Exchange. The acquisition significantly reduces the company’s timing and cost of development. The Loop Data Exchange will enable the company to benefit from substantial revenues by monetizing Loop’s current bricks and mortar retail data to 3rd party e-commerce companies such as Amazon, Google, and Facebook.
The combination of retail transaction insights plus location data has a real measurable value that will offer new and increased revenue streams for Loop when productized. We are excited to complete this transaction, and we believe Loop shareholders will benefit from a new and very compelling asset that we expect will contribute significant value to the company.”
As part of the transaction, Locally founder and former CEO, Michael Canevaro, will join Loop as the SVP of Business Development and Partnerships. Mike’s impressive background will help further establish Loop as one of the leading disruptive AI Companies in the broader US marketplace.
TERMS OF THE DEAL
In consideration for the purchase and sale of the Purchased Assets, Loop will pay to, or to the direction of, the Vendor $199,500 payable by the issuance of 554,166 common shares in the capital of Loop (“Payment Shares”) at a deemed price of $0.36 per Payment Share upon the date of closing of the Acquisition (“Closing Date”), subject to the Escrow Conditions (as defined below).
100% of the Payment Shares (being 554,166 Payment Shares) shall be released from escrow on the date that is six (6) months and one (1) day following the Closing Date. Terms of the agreement will be subject to approval by both Locally and Loop Insight’s board of directors as well as regulatory and TSXV approval.
About Loop Insights: Loop Insights Inc. is a Vancouver-based Internet of Things (“IoT”) technology company that delivers transformative artificial intelligence (“AI”) automated marketing, contact tracing, and contactless solutions to the brick and mortar space. Its unique IoT device, Fobi, enables data connectivity across online and on-premise platforms to provide real-time, detailed insights and automated, personalized engagement. Its ability to integrate seamlessly into existing infrastructure, and customize campaigns according to each vertical, creates a highly scalable solution for its prospective global clients that span industries. Loop Insights operates in the telecom, casino gaming, sports and entertainment, hospitality, and retail industries, in Canada, the US, the UK, Latin America, Australia, Japan, and Indonesia.
This news release contains certain statements which constitute forward-looking statements or information. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Loop’s control, including the impact of general economic conditions, industry conditions, and competition from other industry participants, stock market volatility and the ability to access sufficient capital from internal and external sources. Although Loop believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. As such, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity or achievements. The forward-looking statements contained in this news release are made as of the date of this news release and, except as required by applicable law, Loop does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. Trading in the securities of Loop should be considered highly speculative. There can be no assurance that Loop will be able to achieve all or any of its proposed objectives.
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.
