Posted by AGORACOM
at 8:47 AM on Wednesday, September 30th, 2020
Scarlette Lillie Science and Innovation has secured a relationship with Jinfiniti Precision Medicine
Exploring the potential roles that psilocybin and truffles can play for age-related and psychiatric disorders
Toronto, Ontario–(Newsfile Corp. – September 30, 2020) – Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (OTC: TRUFF) (“Red Light Holland” or the “Company“), an Ontario-based corporation positioning itself to engage in the production, growth and sale of its brand of magic truffles to the legal, recreational market within the Netherlands, is pleased to announce that its science division, Scarlette Lillie Science and Innovation (“Scarlette Lillie“), has secured a relationship with Jinfiniti Precision Medicine (“Jinfiniti“) in order to explore the potential roles that psilocybin and truffles can play for age-related and psychiatric disorders. Jinfiniti has created a world class “AgingSOS” test panel that can detect key factors from blood that drive aging and other genetic instabilities. The speed and affordability of this test can allow for both company’s Scientists to clearly evaluate the potential for psilocybin treatments that go beyond what is currently being explored. The CEO of Jinfiniti is Dr. Jin-Xiong She, a professor at Augusta University in Georgia, USA, whose expertise is in the creation of biomarker panels. Jinfiniti’s state of the art panel is making it possible to extend the applicability of psilocybin.
“We are pleased to work with Scarlette Lillie, and we are excited to add this special dimension to their clinical study explorations as they emerge,” says Dr. She, CEO of Jinfiniti.
“The idea that psilocybin and truffles have deep physiological and medicinal effects that go beyond psychiatric applications is not new, but as a scientist, Scarlette Lillie is allowing me to truly explore whole new markets, with a rigorous biomarker panel. Additionally, this work has the potential to help us understand if there are unknown mechanisms at play for neurological and psychiatric disorders,” says Dr. Joseph Geraci, CEO of NetraMark Corp. and a scientific advisor to Red Light Holland. Dr. Geraci is helping to establish several clinical programs. He brings a deep knowledge of systems biology, medical science, and artificial intelligence to the team.
This relationship with Jinfiniti will allow Scarlette Lillie to add a novel component to expected clinical studies for psilocybin and truffles. The knowledge that comes from this has the potential to not only influence the outcome of clinical studies but can also potentially lead to novel treatments for several disorders.
“When you see brilliant Scientists like Dr. Joseph Geraci and Dr. Jin-Xiong She, a professor at Augusta University, show this much excitement, it gets me really excited!” Added Todd Shapiro, CEO and Director of Red Light Holland. “I’ve always made it very clear that as a company we take Science and Innovation very seriously. This is just another example of Scarlette Lillie moving forward intelligently with world class experts to hopefully help be a part of positive change.”
About Jinfiniti Precision Medicine
Jinfiniti is a precision medicine company that aims to increase the human healthspan. Using measures of key blood biomarkers, Jinfiniti is able to provide a detailed overview of individual aging health. Composed of researchers who met at the Medical College of Georgia, the Jinfiniti team is dedicated to the prevention of chronic disease and the promotion of longevity. Their novel approach to anti-aging practices involves conducting lab tests to measure aging biomarkers within the blood. This information then helps to guide individual lifestyle adjustments, leading to improved health and quality of life.
Jin-Xiong She, Ph.D., Professor at Augusta University Founder & CEO Jinfiniti Precision Medicine, Inc. 1120 15th Street, Augusta, GA 30912
About Red Light Holland Corp.
RLH is an Ontario-based corporation positioning itself to engage in the production, growth and sale of its brand of magic truffles to the legal, recreational market within the Netherlands, in accordance with the highest standards, in compliance with all applicable laws. The Company’s brand of magic truffles are expected to be sold in the Netherlands through existing Smart Shops as well as its e-commerce platform, and are expected to be initially made available in the form of its previously announced Microdosing Packs.
For additional information on the Company:
Todd Shapiro Chief Executive Officer and Director Tel: 647-204-7129
Posted by AGORACOM-JC
at 8:12 AM on Wednesday, September 30th, 2020
Received a request for Spherical Nano Silicon powders to be produced by the PUREVAP™Nano Silicon Reactor from a major automobile manufacturer
When concluded, will represent the first order for these powders
The manufacturer is well aware that HPQ NANO will only fulfill this first order in December 2020 and, as such, this pre-order is simply a way for them to guarantee to be first in queue for this material
The automobile manufacture’s name shall remain anonymous for competitive and confidential reasons
MONTREAL, Sept. 30, 2020 — HPQ Silicon Resources Inc. ( “HPQ” or the “Company” ) TSX-V: HPQ;FWB: UGE ; Other OTC : URAGF ; is pleased to announce today that its 100% owned subsidiary, HPQ Nano Silicon Powders inc (“HPQ NANO”), has received a request for Spherical Nano Silicon powders to be produced by the PUREVAP™Nano Silicon Reactor (“NSiR”) from a major automobile manufacturer which, when concluded, will represent the first order for these powders. The manufacturer is well aware that HPQ NANO will only fulfill this first order in December 2020 and, as such, this pre-order is simply a way for them to guarantee to be first in queue for this material. The automobile manufacture’s name shall remain anonymous for competitive and confidential reasons.
“This is indeed significant news. Although we do not expect this initial order to be a big order it does validate our strategic decision to enter this space,” said Bernard Tourillon, President & CEO of HPQ Silicon and HPQ NANO . “To have piqued the interest of a major industrial player so early on, and to the point where they will pay for product before production just to secure a position, speaks volumes about where we are and what we are doing. We are extremely proud as a Company to be at this table at this unique time. However, I must caution investors that although thispre-ordersignalsinterest in our unique products, we are still at the very preliminary stages and there is no guarantee that anything of commercial value will materialize from these efforts. It does however demonstrate the potential for new and exciting advances by HPQNANOin the siliconbatteryspace.”
“We could not have wished for more so quickly,” said P. Peter Pascali CEO and Chairman of PyroGenesis Canada Inc. “To receive this type of validation mere weeks after signing a Development Agreement with HPQSilicon, and mere days aftera majorBattery Conference, which highlighted the importance of such products, is astounding. We are excited to see HPQNANOeffectively taking pre-orders from giants in the industry who, based on our experience, are not in the habit of wasting their time. Once again congratulations to Bernard, his team, and his Board.”
About Silicon
Silicon (Si), also known as silicon metal, is one of today’s strategic materials needed to fulfil the Renewable Energy Revolution (“RER”) and the decarbonization of the economy presently under way. Silicon does not exist in its pure state; it must be extracted from quartz (SiO 2 ), in what has historically been a capital and energy intensive process.
About HPQ Silicon
HPQ Silicon Resources Inc. ( TSX-V: HPQ ) is a Canadian producer of Innovative Silicon Solutions, based in Montreal, building a portfolio of unique high value specialty silicon products needed for the coming RER.
Working with PyroGenesis Canada Inc.(TSX-V: PYR) , a high-tech company that designs, develops, manufactures and commercializes plasma – based processes, HPQ is developing:
The PUREVAP™“Quartz Reduction Reactors” (QRR) , an innovative process (patent pending), which will permit the one step transformation of quartz (SiO 2 ) into high purity silicon (Si) at reduced costs, energy input, and carbon footprint that will propagate its considerable renewable energy potential ; ° HPQ believes it will become the lowest cost (Capex and Opex) producer of silicon (Si) and high purity silicon metal (3N – 4N Si);
The PUREVAP™Nano Silicon Reactor(NSiR) , a new proprietary process that can use different purities of silicon (Si) as feedstock, to make spherical silicon nanopowders and nanowires; ° HPQ believes it can also become the lowest cost manufacturer of spherical Si nanopowders and silicon-based composites needed by manufacturers of next-generation lithium-ion batteries ; ° During the coming months, spherical Si nanopowders and nanowires silicon-based composite samples requested by industry participants and research institutions’ will be produced using PUREVAP™SiNR .
HPQ is also working with industry leader Apollon Solar of France to:
Use their patented process and develop a capability to produce commercially porous silicon (Si) wafers and porous silicon (Si) powders; ° The collaboration will allow HPQ to become the lowest cost producer of porous silicon wafers for all-solid -state batteries and porous silicon powders for Li-ion batteries; ° Develop the hydrogen generation potential of Silicon nanopowders for usage with the Gennao™ system; ° Commercialize, exclusively in Canada, and non-exclusive in the U.S.A., the Gennao™ H2 system and the chemical powders required for the hydrolysis production of Hydrogen (“H2”).
This News Release is available on the company’s CEO Verified Discussion Forum , a moderated social media platform that enables civilized discussion and Q&A between Management and Shareholders.
Disclaimers:
The Corporation’s interest in developing the PUREVAP™ QRR and any projected capital or operating cost savings associated with its development should not be construed as being related to the establishing the economic viability or technical feasibility of any of the Company’s Quartz Projects.
This press release contains certain forward-looking statements, including, without limitation, statements containing the words “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “in the process” and other similar expressions which constitute “forward-looking information” within the meaning of applicable securities laws. Forward-looking statements reflect the Company’s current expectation and assumptions and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. These forward-looking statements involve risks and uncertainties including, but not limited to, our expectations regarding the acceptance of our products by the market, our strategy to develop new products and enhance the capabilities of existing products, our strategy with respect to research and development, the impact of competitive products and pricing, new product development, and uncertainties related to the regulatory approval process. Such statements reflect the current views of the Company with respect to future events and are subject to certain risks and uncertainties and other risks detailed from time-to-time in the Company’s on-going filings with the security’s regulatory authorities, which filings can be found at www.sedar.com. Actual results, events, and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements either as a result of new information, future events or otherwise, except as required by applicable securities laws.
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.
For further information contact
Bernard J. Tourillon, Chairman, President and CEO Tel (514) 907-1011 Patrick Levasseur, Vice-President and COO Tel: (514) 262-9239 http://www.hpqsilicon.com Email: [email protected]
Posted by AGORACOM-JC
at 6:46 AM on Wednesday, September 30th, 2020
Announced the signing of a two year partnership agreement with Valencia C.F., one of the biggest soccer clubs in the world and the winner of six La Liga titles, to provide its Augmented Reality Platform for fan activation and engagement
This historic agreement makes Valencia C.F. the first La Liga team to incorporate Augmented Reality for fan activation and engagement
Company believes there is a significant opportunity to expand its offering to further clubs in an effort to reach over 1.3 billion collective followers of La Liga players, 480 million collective followers of La Liga clubs and 82 million followers of La Liga itself across Twitter, Facebook, and Instagram channels.
VANCOUVER , BC and ERIE, Pa. , Sept. 30, 2020 – Imagine AR Inc. (CSE: IP) (OTCQB: IPNFF) (“ImagineAR” or “Company”) an Augmented Reality Company that enables sports teams, businesses and enterprises to instantly create their own AR mobile campaigns, is pleased to announce the signing of a two year partnership agreement with Valencia C.F., one of the biggest soccer clubs in the world and the winner of six La Liga titles, to provide its Augmented Reality Platform for fan activation and engagement. This historic agreement makes Valencia C.F. the first La Liga team to incorporate Augmented Reality for fan activation and engagement.
VALENCIA CLUB DE FUTBOL – WORLD RENOWNED CHAMPION FOR 101 YEARS
Valencia C.F., founded in 1919, is a Spanish professional football club which is one of the most supported football clubs in Spain and one of the biggest clubs in the world in terms of number of associates, including close to 7 million fans on social networks and across five continents.
They play in La Liga, the top professional football division in Spain and have played in the top league in Europe in 3 of the past 6 editions.
Valencia C.F. President Anil Murthy stated “With this unique season being played so far behind closed doors and without our fans, ImagineAR will allow us to keep our personal connection to them as strong as ever, thanks to their amazing mobile augmented reality. The resulting immersive experiences will create fun, energy and excitement that can be shared with other fans on all social media platforms. We are happy to be the first La Liga team to integrate ImagineAR into our digital communications platform.
Valencia C.F. Chief Digital Innovation Officer Franco Segarra stated “Over the last three years, Valencia C.F. has been working extensively on digital innovation in order to get closer to our fans and introduce unique experiences to the world of football. The recent launch of our ‘VCF Innovation Hub” demonstrates our commitment to adapting the newest and best of breed technologies to make our club stronger. We are excited to bring ImagineAR into our Hub as our Augmented Reality partner over the next 2 years and I look forward to delivering incredible fan engagement with them.”
VALENCIA C.F. GLOBAL REACH WILL CREATE INTERNATIONAL SOCCER VISIBILITY AND OPPORTUNITIES FOR IMAGINEAR
As part of the Agreement, ImagineAR will provide Valencia C.F. with with the IOS and Android SDK that fully integrates into their Mobile app. The ImagineAR SDK will provide Valencia with a back-office reporting tool for the club to generate valuable marketing intelligence and insights.
In addition to financial benefits of the Agreement, ImagineAR will receive significant exposure via the promotion and branding of of ImagineAR as follows:
Becoming an “Innovation Partner of Valencia C.F.” and member of the “VCF Innovation Hub”.
Our brand will be included in all official Valencia C.F communications in the “Innovation Partner” category.
Branding on U-Television system (LED system) for all LaLiga and Copa S.M. el Rey matches played in Valencia C.F’s Mestalla Stadium.
Branding in the internal TV broadcasts of Mestalla TV, at Mestalla Stadium, during each match of the National League Championships and S.M. del Rey Cup, as well as, friendly matches and institutional acts celebrated in the Mestalla Stadium, excluding finals, throughout the soccer season.
Branding on the official website of the club in the section dedicated to the “VCF Innovation Hub”
Branding within the social networks, newsletters and videos of the “VCF Innovation Hub”
One ImagineAR event in the facilities of the VIP Box at Mestalla Stadium.
Given the fact Valencia C.F is one of the most supported football clubs in Spain and one of the biggest clubs in the world in terms of number of associates, including close to 7 million fans around the world, the Company expects to enjoy an incredible level of visibility and success within the Valencia C.F Mobile app and social media properties, creating a high level of recognition from fans and teams across La Liga and all major soccer leagues around the world.
As the first La Liga club to partner with ImagineAR, the Company believes there is a significant opportunity to expand its offering to further clubs in an effort to reach over 1.3 billion collective followers of La Liga players, 480 million collective followers of La Liga clubs and 82 million followers of La Liga itself across Twitter, Facebook, and Instagram channels.
Alen Paul Silverrstieen, CEO of ImagineAR, stated “We are truly honored to be working with the legendary Valencia Club de Fútbol by delivering unmatched AR experiences to their massive global fan base. Their VCF Innovation HUB positions Valencia C.F as an international technology hub and we are very proud to be part of this great initiative by playing a critical role in connecting their players and fans in a historic period of time that forces them to be apart. The connections and immersive experiences made through the ImagineAR platform will be groundbreaking, making us very optimistic that this partnership will grow enormously in the next two years.”
Silverrstieen added “With respect to our Company, this is a major milestone that cannot be overstated. Valencia C.F is not only our first LaLiga partner, they are also our first professional sports team partner outside of the United States and opens the door to further global expansion at the highest level of sports. Our shareholders can take great pride in this achievement.”
This News Release is available on the company’s CEO Verified Discussion Forum , a moderated social media platform that enables civilized discussion and Q&A between Management and Shareholders.
About ImagineAR
Imagine AR Inc. (CSE: IP) (OTC: IPNFF) has developed ImagineAR.com; an “AR-as-a-Service” platform for desktops that enables businesses of any size to create and implement their own AR campaigns with no programming or technology experience. Every organization, from professional sports franchises to small retailers, can develop interactive AR campaigns that blend the real and digital worlds using ImagineAR. Customers simply point their mobile device at logos, signs, buildings, products, landmarks and more to instantly engage with videos, information, advertisements, coupons, 3D holograms and any interactive content, all hosted in the cloud and managed using a menu-driven portal. Integrated real-time analytics means that all customer interaction is tracked and measured in real-time. The ImagineAR.com mobile app is available in the IOS and Android mobile app stores. The platform is available as a native mode SDK.
All trademarks of the property of respective owners. ON BEHALF OF THE BOARD Alen Paul Silverrstieen President & CEO (818) 850-2490
We encourage you to do your own due diligence and ask your broker if Imagine AR Inc. (cse: IP) is suitable for your particular investment portfolio*. The Canadian Securities Exchange has neither approved nor disapproved the contents of this press release. This press release may include ‘forward-looking information’ within the meaning of Canadian securities legislation, concerning the business of the Company. The forward looking information is based on certain key expectations and assumptions made by Imagine AR’s management. Although Imagine AR believes that the expectations and assumptions on which such forward- looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Imagine AR can give no assurance that it will prove to be correct. These forward-looking statements are made as of the date of this press release, and Imagine AR disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
Posted by AGORACOM-JC
at 4:23 PM on Tuesday, September 29th, 2020
(KWE:TSXV)
WHY KWESST? HERE’S SOME GREAT REASONS
1. KWESST is a leader in defensive technologies that increase the capabilities of soldiers, including those of NATO and its allies.
2. These technologies make a critical difference to soldier safety and effectiveness.
3. The Leadership team experience spans decades and hundreds of millions of dollars in military and homeland security contracts.
4. KWESST develops next-generation systems for forces around the world, with a particular focus on special forces among NATO countries and their allies.
5. KWESST partners with globally recognized equipment manufacturers to integrate its systems into their solutions to create high value-add products for global customers.
6. KWESST provides small cap investors with a rare opportunity to invest in a high-growth, technology driven, global defence company with:
Tier-1 Customers
Global Customers
Proprietary Technologies
Diversified Product
Globally Renowned Executive Team With Massive Successful Track Records
FULL DISCLOSURE: Kwesst Micro Systems Inc. is an advertising client of AGORA Internet Relations Corp.
Posted by AGORACOM-JC
at 8:33 AM on Tuesday, September 29th, 2020
Announced its Q4 2020 program for the River Valley Palladium Project near Sudbury, Ontario
Primary focus of the program is a Phase 1 of a multi-phase rhodium assay program designed to prove-up the world’s most valuable metal as a payable component of River Valley.
Chairman & CEO Harry Barr stated; “We have seen the price of rhodium run from $6,050 an ounce to a high of $13,800 this year and the company plans to investigate the potential economic metal credit that rhodium offers at River Valley
We know the project contains rhodium as evidenced by its presence in our latest Mineral Resource Estimate.
However, rhodium was not included as a payable metal in our 2019 Preliminary Economic Assessment (PEA), due to insufficient number of assays and limited metallurgical recovery information.”
The highest-grade rhodium assay is 0.873 g/t Rh for drill core from the Lismer North Ridge Zone
This potential metal credit may be significant at current pricing and our objective is to complete sufficient re-assaying and metallurgy to prove that rhodium could provide up to 5% of the Project’s payable metal package”.
September 29, 2020 – Rockport, Canada – New Age Metals Inc. (NAM) (TSXV:NAM);(OTC:NMTLF);(FSE:P7J) (“NAM” or the “Company”) NAM is pleased to announce its Q4 2020 program for the River Valley Palladium Project near Sudbury, Ontario. The primary focus of the program is a Phase 1 of a multi-phase rhodium assay program designed to prove-up the world’s most valuable metal as a payable component of River Valley. Chairman & CEO Harry Barr stated; “We have seen the price of rhodium run from $6,050 an ounce to a high of $13,800 this year and the company plans to investigate the potential economic metal credit that rhodium offers at River Valley. We know the project contains rhodium as evidenced by its presence in our latest Mineral Resource Estimate. However, rhodium was not included as a payable metal in our 2019 Preliminary Economic Assessment (PEA), due to insufficient number of assays and limited metallurgical recovery information. The Mineral Resource Estimation work completed to date shows over 25,000 ounces of rhodium in the Measured plus Indicated resource classification and an additional 20,000 ounces in the Inferred classification. The highest-grade rhodium assay is 0.873 g/t Rh for drill core from the Lismer North Ridge Zone . The first phase of the rhodium work will focus on the northern area of the Project, where initial production would potentially begin as determined in the 2019 PEA Study. This potential metal credit may be significant at current pricing and our objective is to complete sufficient re-assaying and metallurgy to prove that rhodium could provide up to 5% of the Project’s payable metal package”.
Rhodium Market
Rhodium (Rh), one of the six Platinum Group Metals, is a silver-white metallic element that is highly reflective and strongly resistant to corrosion. Rh’s primary use is in catalytic converters of automobiles, where it reduces the amount of nitrogen oxides (NOx) exhaust gases emitted into the atmosphere. In 2019, almost 90% of rhodium demand was from the auto-catalyst sector . Rh is a very special metal in terms of its performance in converting NOx into harmless gases, and will continue to be the metal of choice for the control of NOx .
Mined supply of Rh in 2019 was over 750,000oz and recycled supply was 315,000oz, resulting in a deficit of approximately 50,000oz. Rh supply is inelastic to demand for various reasons: Rh content in the earth’s crust is extremely rare, and the metal is mined as a by-product of platinum and palladium mining or nickel mining. There is no such thing as a primary Rh mine, and the major producers are all located in South Africa . South Africa produces over 85% of the global Rh supply annually, with majority of this supply being generated by the mining companies listed below (Rh production listed as a percentage of overall mining production):
Rhodium (Rh), the world’s most valuable metal (US$ 12,000/oz as of September 28, 2020), is present with palladium and platinum at the River Valley Deposit (Figure 1). However, the amount of existing Rh assays is relatively small and their spatial distribution limited, due to the high cost of assaying. The highest-grade rhodium assay is 0.873 g/t Rh for a core sample from the Lismer North Zone . Rhodium is included in the 2001, 2012, 2018 and 2019 Mineral Resource Estimates. Rhodium grades in the 2019 Mineral Resource Estimate (Table 1) are based on Rh assay data for 7,471 drill core samples and 2,641 channel samples, for a total of 10,112 assays. Of these, 8,268 core and channel sample Rh assays records are for the Dana North Zone, 1,338 core and channel sample Rh assay records for the Dana South Zone, and 506 core sample assays for the Lismer Zones: there are no Rh assays available in the database for the Pardo, Pine, Banshee, Lismer Ridge, Varley, Azen, and Razor zones . Clearly, the Rh assay data distribution is highly concentrated at Dana North. Furthermore, the rhodium mineral hollingworthite (Rh, Pt, Pd) AsS has been identified during mineralogical and metallurgical testwork studies of drill core from Dana North and Dana South. Although included in the 2019 Mineral Resource Estimate for the River Valley Palladium deposit, Rh was excluded in the 2019 Preliminary Economic Assessment as payable metal in the Net Smelter Return estimates.
In addition, a relatively small amount of additional Rh assay data (337 analyses) are available for core samples analyzed during an academic research project and for surface grab samples (158) assayed during exploration programs. The highest grades were 0.372 g/t Rh for the core and 0.309 g/t Rh for the surface grab samples. However, these data cannot be used directly for Mineral Resource Estimation purposes.
The Rhodium Assay Program for Q4 2020 is to be based on re-assaying available drill core samples for Rh. The drill holes to be sampled will be carefully selected from representative drill cross-sections of priority zones, primarily Pine Zone and possibly Dana South and Lismer North. Samples from mineralized core intervals above the lower cut-off grade and adjacent material are to be submitted to an appropriate laboratory for PGM assay with enhanced detection limits. In addition to Rh (and palladium platinum and gold), the minor PGM ruthenium (Ru) and iridium (Ir) will also be assayed. The Q4 2020 work will be Phase 1 of a multi-phase program . Pending results and progress, the follow-up phases of work will include more sampling and assaying and mineralogical and metallurgical testwork, in order to ultimately prove-up rhodium as a payable metal for the River Valley Project.
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Figure 1. The mineralized zones and current pit constrained Mineral Resource Estimates of the River Valley Palladium Deposit near Sudbury, Ontario. Source: NAM press release dated August 8, 2019.
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Additional Activities for Q4 2020
Additional activities planned for Q4 regarding River Valley include environmental baseline studies, archaeological assessments, and development of new exploration targets for field validation and testing in 2021. The environmental baseline studies will involve a second round of surface water quality sampling and flow measurement. Exploration targeting will continue to focus on footwall mineralization, though at the Dana South Zone in addition to the Pine Zone-T3 target. The interior of the River Valley Intrusion will also be re-evaluated for the possibility of MT and gravity surveys to aid development of targeting models for contact-type PGM deposits.
About NAM
New Age Metals is a junior mineral exploration and development company focused on the discovery, exploration and development of green metal projects in North America. The Company has two divisions; a Platinum Group Metals division and a Lithium/Rare Element division. The PGM division includes the 100% owned River Valley Project, one of North America’s largest undeveloped Platinum Group Metals Projects, situated 100 km from Sudbury, Ontario as well as the Genesis PGM Project in Alaska. The Lithium division is the largest mineral claim holder in the Winnipeg River Pegmatite Field, where the Company is exploring for hard rock lithium and various rare elements such as tantalum and rubidium. Our philosophy is to be a project generator with the objective of optioning our projects with major and junior mining companies through to production. The Company is actively seeking an option/ joint venture partner for its road-accessible Genesis PGM project in Alaska and for our Lithium division in Manitoba.
About the River Valley Palladium Project
The details of the updated Mineral Resource Estimate (MRE) and Preliminary Economic Assessment (PEA) were announced in the press release dated August 9, 2019 and are described on NAM’s website. The pit constrained Updated Mineral Resource Estimate formed the basis of the PEA . At a cut-off grade of 0.35 g/t PdEq, the Updated Mineral Resource Estimate contains 2.867 Moz PdEq in the Measured plus Indicated classifications and 1.059 Moz PdEq in the Inferred classification. The PEA is a preliminary report, but it demonstrates that there are potentially positive economics for a large-scale mining open pit operation, with 14 years of Palladium production. Refer to the NAM website (www.newagemetals.com) for details.
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If you have not done so already, we encourage you to sign up on our website ( www.newagemetals.com ) to receive our updated news.
Qualified Person
The contents contained herein that relate to Exploration Results or Mineral Resources is based on information compiled, reviewed or prepared by Dr. Bill Stone, P.Geo., a consulting geoscientist for New Age Metals. Dr. Stone is the Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the technical content of this news release.
On behalf of the Board of Directors
“Harry Barr”
Harry G. Barr
Chairman and CEO
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.
Cautionary Note Regarding Forward Looking Statements: This release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results and are based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. In addition, forward-looking statements include statements in which the Company uses words such as “continue”, “efforts”, “expect”, “believe”, “anticipate”, “confident”, “intend”, “strategy”, “plan”, “will”, “estimate”, “project”, “goal”, “target”, “prospects”, “optimistic” or similar expressions. These statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others, the Company’s ability and continuation of efforts to timely and completely make available adequate current public information, additional or different regulatory and legal requirements and restrictions that may be imposed, and other factors as may be discussed in the documents filed by the Company on SEDAR (www.sedar.com), including the most recent reports that identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company does not undertake any obligation to review or confirm analysts’ expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Investors should not place undue reliance on forw ard-looking statements.
Posted by AGORACOM-JC
at 8:00 AM on Tuesday, September 29th, 2020
Entered into an agreement whereby Avicanna will develop certain hemp-derived cannabinoid-based products including sublingual and sustained released tablets intended for the sleep market for a US distributor
The agreement showcases Avicanna’s expertise in cannabinoid product development and drug delivery across several delivery mechanisms
TORONTO , Sept 29, 2020 – Avicanna Inc. (” Avicanna ” or the ” Company “) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a biopharmaceutical company focused on the development, manufacturing and commercialization of organic and sustainable plant-derived cannabinoid-based products, is pleased to announce that it has entered into an agreement (the ” Agreement “) whereby Avicanna will develop certain hemp-derived cannabinoid-based products including sublingual and sustained released tablets intended for the sleep market ( the ” Development Products “) for a US distributor (” USCo “).
Under the Agreement, Avicanna will develop the intellectual property (the ” Development IP “) that forms the basis of the Development Products for a development fee. Based on the Development IP, USCo will manufacture, distribute and market the Development Products and will pay Avicanna an ongoing royalty payment based on the gross revenue of the Development Products. Avicanna will also have the opportunity to supply the cannabinoids for the manufacture of the Development Products.
Aras Azadian , CEO of Avicanna, commented: “We continue to demonstrate our advanced capabilities in formulation development, optimization and drug delivery for the cannabinoid industry which has utilities across CPG, adult use, medical and pharmaceutical applications. We also take pride in being selected by world class partners to provide our technology and intellectual property which in turn provides additional sources of revenue in the form of royalties.”
To the knowledge of the Company, it carries out its operations in compliance with all applicable laws in the jurisdictions in which it operates.
About Avicanna
Avicanna is a diversified and vertically integrated Canadian biopharmaceutical company focused on the research, development, and commercialization of plant-derived cannabinoid-based products for the global consumer, medical, and pharmaceutical market segments.
Avicanna is an established leader in cannabinoid research and development, which it primarily conducts at its R&D headquarters in the Johnson & Johnson Innovation Centre, JLABS @ Toronto, Canada and in collaboration with leading Canadian academic and medical institutions. In addition to its developing pharmaceutical pipeline, Avicanna’s team of experts have developed and commercialized several industry leading product lines, including:
Pura H&W™: an advanced and clinically tested line of CBD consumer derma-cosmetic products; and,
RHO Phyto™: an advanced line of medical cannabis products containing varying ratios of CBD and THC currently available nation-wide across Canada in partnership with Medical Cannabis by Shoppers™, a subsidiary of Shoppers Drug Mart. RHO Phyto is the first strictly medical formulary of advanced “Cannabis 2.0” products, containing oils, sprays, capsules, creams, and gels, all developed with scientific rigour, manufactured under GMP standards and supported by pre-clinical data.
With ongoing clinical trials on its derma-cosmetic (Pura H&W), medical cannabis (RHO Phyto) and a pipeline of pharmaceutical products, Avicanna’s dedication to researching the important role that cannabinoids play in an increasingly wider scope of products has been at the core of the Company’s vision since its inception. Furthermore, Avicanna’s commitment to education is demonstrated through its annual medical symposium, the Avicanna Academy educational platform, and the My Cannabis Clinic patient program through its subsidiary company.
Avicanna manages its own supply chain including cultivation and extraction through its two majority-owned subsidiaries, Sativa Nativa S.A.S. and Santa Marta Golden Hemp S.A.S., both located in Santa Marta, Colombia. Through these sustainable, economical, and industrial scale subsidiaries, Avicanna cultivates, processes, and commercializes a range of cannabis and hemp cultivars dominant in CBD, CBG, THC, and other cannabinoids for use as active pharmaceutical ingredients. Avicanna’s Avesta Genetica program specializes in the development and optimization of rare cultivars for commercial production along with feminized seeds for global export. In June 2020, Avicanna made history with a shipment of hemp seeds to the United States of America by completing the first ever export of hemp seeds from Colombia.
Stay Connected
For more information about Avicanna, visit www.avicanna.com , call 1-647-243-5283, or contact Setu Purohit , President by email at [email protected] .
Cautionary Note Regarding Forward-Looking Information and Statements
This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information contained in this press release may be identified by the use of words such as, “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook” and other similar expressions, and includes statements with respect to the ability of Avicanna or USCo to perform under the Agreement, the ability of the Company to develop the Development IP to form the basis of the Development Products, the ability of USCo to manufacture and distribute the Development Products, and the ability of the Company to supply the cannabinoids to be used in the manufacture of the Development Products. 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 relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment; and the availability of licenses, approvals and permits.
Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to current and future market conditions, including the market price of the common shares of the Company, the delay or failure to receive regulatory approvals, and the risk factors set out in the Company’s annual information form dated April 15, 2020 , filed with the Canadian securities regulators and available under the Company’s profile on SEDAR at www.sedar.com .
The statements in this press release are made as of the date of this release. The Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
Posted by AGORACOM
at 2:07 PM on Monday, September 28th, 2020
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The company plans to offer a $25,000 vehicle in three years, officials say.
Tesla has announced new, internally-produced batteries for its electric cars, signaling a major shift from the automaker that, if successful, could significantly reduce the cost of electric vehicles.
“I think it’s the way all electric cars in the future will be made,” said CEO Elon Musk at Tesla’s “Battery Day” event outside its production facility in Freemont, California, on Tuesday.
Tesla’s new battery cell features a “tabless” design, which the company claims will provide five times the energy, six times the power, and 16% more range compared to its old battery cell.
The company’s current vehicles use batteries sourced from suppliers like Panasonic, where the energy stored in the battery pack is transferred to the car’s drivetrain via a conductive metal tab.
The new battery pack accomplishes the same thing by using a design that integrates a series of small bumps and spikes, which the company hopes will eliminate the need for a tab, and consequently drive down costs and production time. Musk tweeted the tech is “way more important than it sounds,” after the patent was approved back in May.
Courtesy of Tesla Elon Musk conducts Tesla’s “Battery Day” event outside its production facility in Freemont, Calif., S… Elon Musk conducts Tesla’s “Battery Day” event outside its production facility in Freemont, Calif., Sept. 22, 2020.
“This is not just a concept or a rendering; we are starting to ramp up manufacturing of these cells at our pilot ten gigawatt-hour production facility,” said Drew Baglino, Tesla’s Senior Vice President, Powertrain and Energy Engineering.
Tesla also said the new batteries would be 56% less expensive to manufacture and are being developed entirely in-house.
“They own the whole widget,” said Car and Driver Senior Editor of Technology Roberto Baldwin, “which is what gives them the ability to control every aspect, and to tweak as much efficiency as they can out of everything — out of their batteries, out of their motors, out of their inverters.”
Tesla’s investment in its own battery technology doesn’t mean it’s ramping down partnerships with other battery producers, Musk said. In a tweet prior to Tuesday’s event, the CEO said the company plans to “increase, not reduce battery cell purchases from Panasonic, LG & CATL (possibly other partners too.)” He also said the company is predicting shortages in battery cells from those suppliers and is ramping up in-house efforts to mitigate those shortfalls.
Musk said during the event that Tesla is planning to produce 100 gigawatt-hours of battery cells per year by 2022, and three terawatt-hours of cells per year by 2030.
“It allows us to make a lot more cars and a lot more stationary storage,” he said.
Bringing down the cost of battery production is part of Tesla’s plan to eventually sell 20 million vehicles annually — about fifty times more than they sell now, the company said.
“I think twenty million is doable,” said Car and Driver’s Baldwin. “As long as they can continue to grow, and continue to invest and sort of stay ahead of everyone.”
Justin Sullivan/Getty Images Tesla Superchargers charge vehicles in Petaluma, Calif. on Sept. 23, 2020. Tesla Superchargers charge vehicles in Petaluma, Calif. on Sept. 23, 2020.
Part of that 20 million vehicle goal will come from a Tesla model the company is planning to sell for $25,000, expected to be available in about three years. The car, which would undercut Tesla’s current Model 3 sedan as the brand’s cheapest vehicle, would be fully autonomous, Musk said.
“It was always our goal to try to make an affordable electric car,” said Musk.
Musk said that while production on the new batteries is underway, it will take between a year and 18 months to fully ramp up production, and even longer for the technology to show up in actual vehicles.
However, “Tesla has repeatedly set timetables and timelines, and then they’ve missed them,” said Baldwin.
The Model 3 faced significant delays as the company ramped up production in 2017. Since the start of the coronavirus pandemic earlier this year, Tesla has also pushed back planned releases for its “Semi” truck and “Roadster” sports car. But Baldwin says the company is making improvements, noting that the Model Y crossover was released ahead of schedule.
“On the one hand, they’re taking all the learnings they’ve gotten over the past ten, twelve years, and they’re using that to make their batteries better,” Baldwin said. “But there’s still the potential this could be delayed another year, another four years.”
Tesla’s battery announcement comes at a time of increased competition in the electric vehicle market. Earlier this month, Lucid, an EV startup founded by the former head of engineering for Tesla’s own Model S sedan, unveiled an electric sedan called the Air, with a claimed 503 miles of range. General Motors’ “Ultium” battery pack, which the company unveiled earlier this year, is set to underpin 13 new electric vehicle models across four brands, starting with a new “HUMMER” pickup truck.
Volkswagen also says it plans to produce 1.5 million EVs annually by 2025, and unveiled the ID4, an electric crossover SUV that’s expected to have 310 miles of range, on Wednesday.
Posted by AGORACOM
at 12:52 PM on Monday, September 28th, 2020
Signed the Definitive Agreement to earn up to a 100% interest in the San Dieguito de Arriba beneficiation plant
VANCOUVER, British Columbia, Sept. 28, 2020 (GLOBE NEWSWIRE) — Candente Gold Corp. (TSXV:CDG) (“Candente Gold” and/or the “Company”) is pleased to advise that the Company has signed the Definitive Agreement (in keeping with the Memorandum of Understanding (“MOU”) signed April 28 th , 2020) with Magellan Acquisition Corp. (“Magellan”) which gives Candente Gold the right to earn up to a 100% interest in the San Dieguito de Arriba beneficiation plant (“SDA Plant”) and take over their rights to a lease agreement on the El Dorado Property, both located in Nayarit State, Mexico.
SDA Plant
The SDA plant consists of a flotation plant which also includes a precious metals leach circuit – Merrill Crowe system and associated assets, licenses and agreements. The plant has a ten year operating history at 100 tonnes per day but can be expanded to process mined material at a rate of up to 200 tonnes per day. Historically its operation has been based on sales of flotation concentrates to smelters, and payment for precious metals content. The plant lies within the rich Sierra Madre Occidental mineralized belt, which historically has yielded millions of ounces (“oz”) of precious metals and offers multiple high grade gold and silver epithermal vein opportunities.
The mill was operational from 2007 (by Minerales Vane S.A. de C.V.) until April 2017, processing material from various operations in the region on a both a profit sharing and toll basis. The toll materials were tested prior to processing to estimate recoveries and concentrate grades. Typical reported recoveries were in the range 85 to 92% for gold and 72 to 77% for silver. The mill operated as recently as February 2019 for processing of a bulk sample of approximately 600 tonnes. Due Diligence uncovered the requirements for usual wear and tear maintenance estimated at $95,000 to restore the mill to functional condition in order to receive and run a 1,000 tonne bulk sample from El Dorado. The Company has initiated discussions for potential lines of credit facilities with offtake groups.
El DoradoGold-Silver Project
The El Dorado Gold-Silver Project is located in the Pacific Coastal Plain, State of Nayarit, within a district of epithermal vein systems which is known to host high grade gold and silver in several veins. The El Dorado vein trend is the principal vein system within the property covering an area of 5 km x 3.5 km in size. Veining follows a general northeasterly strike dipping steeply to the NW. A continuous reef outcrop forms a ridge 1.5 kilometers (“km”) in length. Additional discontinuous outcrops both to the NE and SW indicate a strike length of 3.5 km.
The El Dorado vein system has a history of small-scale mining from two veins. Mining in the area has been documented during the periods of: 1900 to 1927; 1965 to 1975; 1975 to 1983; and 1985 to 1990, often producing direct-to-smelter grade material. Most recently, from 1985 to 1990, material from three levels to a depth of 30 meters (“m”) below the surface was shipped to the “El Venado” processing plant located near Ruiz, Nayarit, for toll treatment to produce a flotation concentrate. Historical metallurgical balance sheets from this plant indicate the grade of the material was in the order of 5 grams per tonne (“g/t”) gold and 70 g/t silver.
Prospero Silver Corp. explored the El Dorado property between 2010 and 2011, through a series of comprehensive exploration programs which included historical data reviews, geological mapping, geochemical sampling, trenching and drilling. A total of 4,950 m were drilled in 28 diamond core holes to an average depth of 150 m, over a strike length of 440 m. The drilling intersected multiple steeply-dipping silicified mineralized zones extending from near-surface to the 150 metre drilled depth.
Significant results reported by Prospero on Dec 10, 2010 ( https://pr.globenewswire.com/FileDownloader/DownloadFile?source=ml&fileGuid=83e6aacd-f015-48bc-af52-1e3f95cf6d9b ) included 16.17 meters grading 4.03 g/t gold, 204 g/t silver, 4.0% lead, and 1.75% zinc; and 2.32 meters grading 6.04 g/t gold and 140 g/t silver. The range of widths and grades of the holes within the central portion of the Hundido historical mine area were reported to range from 1.45 meters to 11.22 meters (true widths). The Company’s Qualified Persons have not verified Prospero’s drilling results as due to COVID travel restrictions, they have not yet been able to examine the drill core nor assay data and are therefore relying on data provided in News Releases filed on Sedar by Prospero in 2010 and 2011 and verified by their Qualified Persons.
Prospero also reported that the mineralized zone is 400 meters long and extends up to 180 meters at depth. Within the mineralized zone Prospero intersected grades ranging from 3.0 to 40.0 g/t Au and 57 to 500 g/t Ag over true widths that range from 0.52 meters to 11.2 meters.
To the Company’s knowledge, a NI 43-101 compliant mineral resource estimate has not been completed for the El Dorado property, however in July 2011, Prospero conducted an in-house historical resource estimate based on their drilling described above as well as a review of summary cross sections, limited production documentation and other mine records, as well as results from samples of mine dumps, underground sampling (46 by Fresnillo) and 283 surface outcrop samples collected by both Prospero and previous explorers and exploiters.
Candente Gold believes that Prospero’s Qualified Person (“QP”) is very well qualified and that the parameters used to arrive at the historical resource estimate are relevant and reliable, however the categories used in the estimate do not appear to be compliant with CIM Definition Standards. The Company’s QP cannot verify that a qualified person has done sufficient work to classify the historical estimates as current mineral resources and therefore the Company is not treating the historical estimates as current mineral resources. Historical reviews of the potential tonnes and the potential grades quoted below are conceptual in nature.
Prospero’s historical resource estimate was calculated using polygonal resources in 10 blocks based on intersections from 10 holes covering/in the Hundido and Intermedia Veins, using a tonnage dilution factor of 25% and a specific gravity of 2.8. Metal equivalencies were based on a gold price of US$1,000 per ounce (“oz”) and a silver value of US$20 per ounce.
Prospero’s historical estimate for the Hundido and Intermedia Veins is 190,000 tonnes grading 7.0 g/t gold and 173 g/t silver containing a historical resource of 40,926 oz gold and 1,014,030 oz silver. The grades and tonnages attributable to each vein are as follows:
HISTORICALESTIMATE/MINERALIZATION INDICATED BY DRILLING
Vein
True Width m
Tonnes
GoldEquivalentg/t
Hundido
2.3
89,000
7.01
Intermedia
8.3
91,000
15.17
Notes:
1. Polygonal resources based on intersections from 10 holes.
2. Tonnage reduced by 25% to allow for mining dilution and recovery loss.
3. Does not constitute Reserves under SEC Industry Guide 7 nor Resources under current CIM Definition Standards
Based on all of the existing exploration data and previous historical resource estimates to date the Company believes that a Conceptual Exploration Target within 150 metres of surface has potential for: 110,000 to 200,000 tonnes of material grading from 4.4 to 9.8 g/t gold and 113 to 239 g/t silver containing between 22,500 and 41,000 oz gold and 500,000 to 1,000,000 oz silver, with secondary credits from lead and zinc. This in-situ conceptual estimate of the potential tonnes and grade is contained in unmined portions of the veins as previously delineated. It does not include vertical extensions of the veins below 150 m nor along strike where the veins have been mapped for 3.5 km nor additional exploration potential. The potential quantity and grade described above is conceptual in nature, that there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.
Significant data compilation, re-drilling, re-sampling and data verification may be required by a Qualified Person for the Company before the intersection widths and grades can be verified to be compliant with current NI 43-101 standards. The Company’s QP has not done sufficient work to verify the above-mentioned intersections.
In addition to the data described above, exploration potential outside of the area of historical mining and Prospero’s drilling is believed to be excellent based on the 3.5 km strike length of the vein structures as indicated by vein outcroppings, argillic alteration and silicification. Along this trend, potential exists for both high-grade veins and lower-grade bulk tonnage stockwork zones that have been observed to extend over tens of meters in width in both the hanging wall and footwall of the El Dorado vein system (“Magellan Gold Corporation, Form 10-K Annual Report US SEC dated Dec 31, 2018, File No. 333-174287”) ( https://pr.globenewswire.com/FileDownloader/DownloadFile?source=ml&fileGuid=f7eae2de-c9e8-4748-9f41-78d2cd4ca914 ). Both the northeasterly striking as well as east-west striking splits of the main structure exhibit structural complexity and potential for multi-meter wide precious metal mineralization. Anomalous base metal assays (100’s to 1000’s of parts per million lead, zinc and copper) are ubiquitous as evidenced by the common occurrence of visible galena, sphalerite and chalcopyrite in outcrop and dumps.
El Dorado lies 50 km south of the SDA Plant, 70 km north-northwest of Tepic, the state capital, and 180 km southeast of Mazatlan, Sinaloa. The project has excellent road and rail infrastructure.
Terms of the Agreement
Candente Gold has the Option to earn up to a 100% interest in the Plant and assume the Lease Agreement to the El Dorado Property by making staged payments in shares totalling a value of US$1.425 million over 30 months as well as $5,000 on signing the MOU and 5,000,000 shares on signing the Definitive Agreement and obtaining TSXV approval. Share values are to be calculated using a 30 day VWAP. The Company also has the option to earn a partial interest in the plant and pay Magellan Acquisitions a fee for usage based on percentage owned. (See News Release No. 077 dated April 28 th , 2020 for more details)
Candente Gold also has the right to assume the rights and obligations of a Lease Agreement Magellan Acquisitions had with the owner of the El Dorado Ingenieros Mineros, S.A. de C.V. (“IMSA”). Candente Gold has the right to explore and exploit form the El Dorado property while IMSA retains a negotiable NSR of 3.5% and is obligated to either perform US$20,000 of work on the property in 2020 and $25,000 in 2021 or make payments of US$5,000 per quarter.
About Candente Gold
Candente Gold has launched a comprehensive growth strategy to build a cash flowing business platform and gaining access to properties with near surface exploration potential while maintaining El Oro as its flagship asset and an integral part of the overall growth strategy. The acquisition of the SDA Plant and the El Dorado historic mines signifies an important first step. The Company is currently evaluating other properties that are complimentary to the SDA plant and El Dorado Property.
The recently announced profit-sharing agreement on the Cocula Property in Jalisco affords Candente the opportunity to establish a second production center in Western Mexico. Whereas the target properties to provide feed for the SDA plant are dominantly underground targets, the Cocula Property hosts near surface, gold-silver-lead which may be amenable to open pit mining and either leaching or flotation, bringing an element of diversification the Western Mexico operations.
El Oro is a district scale gold project encompassing a well-known prolific high-grade gold dominant silver epithermal vein system in Mexico. The project covers 20 veins with past production and more than 57 veins in total, from which approximately 6.4 million ounces of gold and 74 million ounces of silver were reported to have been produced from just two of these veins (Ref.Mexico Geological Service Bulletin No. 37, Mining of the El Oro andTlapujahuaDistricts. 1920, T. Flores*)
Modern understanding of epithermal vein systems indicates that several of the El Oro district’s veins hold excellent discovery potential, particularly below and adjacent to the historic workings of the San Rafael Vein, which was mined to an average depth of only 200 metres.
Joanne Freeze, P.Geo., President, CEO and Director and Matthew Melnyk, CPG., Director Operations and Director, are Qualified Persons as defined by National Instrument 43-101 for the project discussed above. Ms. Freeze and Mr. Melnyk have reviewed and approved the contents of this release.
On behalf of the Board of Candente Gold Corp. “Joanne Freeze” P.Geo. President, CEO and Director
For further information please contact: Joanne Freeze President & CEO Tel: + 1 (604) 689-1957 [email protected]
Posted by AGORACOM-JC
at 11:42 AM on Monday, September 28th, 2020
Entered into an arm’s length binding letter of intent with Prego International Group AS
A Norway-based global payment solution provider which develops and operates a range of payment services for partners and clients worldwide, and its majority shareholder, to acquire all of Prego’s outstanding securities.
ZeU will acquire 100% of the issued and outstanding securities of Prego, though a wholly-owned subsidiary for consideration of $8,125,000 paid as $7,500,000 in the form of unsecured convertible debentures of ZeU Sub, $625,000 through the issuance of 2,500,000 ZeU common shares at a deemed price of $0.25 per share, and the issuance of 7,500,000 non-transferable ZeU Share purchase warrants of ZeU, each entitling the holder to acquire one (1) ZeU Share at a price of $0.60 for a period of 24 months from the closing of the Transaction
Montreal – September 28,2020 – ZeU Crypto Networks Inc. (CSE:ZEU)(CNSX:ZEU.CN) is pleased to announce that on September 27, 2020, it entered into an arm’s length binding letter of intent with Prego International Group AS, a Norway-based global payment solution provider which develops and operates a range of payment services for partners and clients worldwide, and its majority shareholder, to acquire all of Prego’s outstanding securities.
“(…) A core strategic objective for ZeU is generating recurring revenues with high gross margins”, says Frank Dumas, CEO of ZeU. “(…) We anticipate that this strategic acquisition will deliver the type of operational synergies we are focused on. Prego’s network and already operating licenced platforms should serve as a multiplicator for the deployment of our services. We expect ZeU’s digital wallet to be integrated with all distributed debit and credit cards that will reach subscribers starting in the first part of next year. Meanwhile, we are proposing to acquire a profitable financial service provider that can be leveraged to accelerate the growth of the resulting aggregated entity (…)”.
“The transaction we are announcing between Prego and ZEU completes the ambition between both parties to synergize strategic opportunities for future payment concepts. Furthermore, by joining forces, we are strengthening our company and our shareholders’ interests in general”commentedRonald Eriksen, Chairman, Prego International Group AS.
Purchase Price
The Agreement provides that ZeU will acquire 100% of the issued and outstanding securities of Prego, though a wholly-owned subsidiary (” ZeU Sub “) for consideration of $8,125,000 paid as $7,500,000 in the form of unsecured convertible debentures (the ” Convertible Debentures “) of ZeU Sub, $625,000 through the issuance of 2,500,000 ZeU common shares (each a ” ZeU Share “) at a deemed price of $0.25 per share, and the issuance of 7,500,000 non-transferable ZeU Share purchase warrants (the ” ZeU Warrants “) of ZeU, each entitling the holder to acquire one (1) ZeU Share at a price of $0.60 for a period of 24 months from the closing of the Transaction (the ” Closing Date “). Other than normal course operational credit, Prego is currently debt-free and has posted a profit in its last 8 quarters.
The principal amount of the Convertible Debentures will bear interest at a rate of 6% per annum from and including their date of issue until the earlier of their date of conversion and the date which is 48 months from the Closing Date (the ” Maturity Date “), and will be redeemable at any time until the Maturity Date.
The principal amount of the Convertible Debentures together with the accrued interests will automatically convert in common shares of ZeU Sub on the earlier of: (i) the Maturity Date; and (ii) a liquidity event, at a conversion price equal to the higher of: (a) $1.00; and (b) the last financing price of ZeU Sub.
The Convertible Debentures holders will also have the option at any time after the Closing Date and prior to the earlier of: (i) the Maturity Date, and (ii) a liquidity event, to convert all of the principal amount together with accrued interest into ZeU Shares at a price equal to the higher of: (a) $1.00; and (b) the 5 days vwap of the ZeU Shares.
The ZeU Shares issued pursuant to the Transaction, and upon any conversion triggered by the Convertible Debentures holders, will be subject to a voluntary resale restriction of 1 year from the Closing Date, or the date of conversion, respectively.
Conditions
The Transaction completion is conditional on several provisions, including completion of a definitive agreement, final due diligence, Prego minority shareholders’ approval and other regulatory review.
Finder’s Fee
A finder’s fee in connection to this transaction may be paid.
ON BEHALF OF THE BOARD OF DIRECTORS
“Frank Dumas”
Frank Dumas President & CEO
About ZeU
ZeU is a forward-thinking Canadian technology company that has developed a state-of-the-art blockchain protocol, providing the foundation for the next generation of encrypted and distributed networks. Thanks to its high level of sophistication, ZeU’s technology maximizes transparency, security and scalability as well as big data management. ZeU’s strategy is to monetize blockchain transactions in diverse sectors such as payment, gaming, data, and healthcare.
About Prego
Prego International Group AS, currently a private limited company incorporated in Norway, operates as a global payment solution provider operating internationally from its HQ in Oslo, Norway and other key operational hub-offices in Kuala Lumpur, Malaysia; London, UK; and Singapore. Prego develops and operates payment programs through worldwide payment networks as MasterCard and VISA International, built on prepaid payment card programs globally.
Prego operates in the fast-growing global payment market, currently one of the most highly rated sectors within financial technology, driven by NEO challenger banks, global remittance networks, and many other businesses, challenging the traditional banking sector.
Prego has developed Pay2Go(TM), a licensed World-Class payroll payment program with prepaid debit cards, bank account and online mobile banking access designed for underserved users as foreign labor, migrants and refugees. Our programs are distributed through agent networks primarily in South East Asia, the Middle East and the EU and will also be offered in other parts of the world.
Forward-Looking Information
Statements in this press release regarding ZeU’s business which are not historical facts are “forward-looking statements” that involve risks and uncertainties, such as terms and completion of the proposed transaction. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.
Completion of the Transaction is subject to a number of conditions, including but not limited to, execution of a definitive agreement relating to the Transaction, CSE acceptance, and if applicable, disinterested shareholder approval. Where applicable, the Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a ZeU should be considered highly speculative.
The CSE has in no way passed upon the merits of the Transaction and has neither approved nor disapproved the contents of this press release.
