Posted by AGORACOM-JC
at 5:55 PM on Thursday, September 5th, 2019
SPONSOR: Spyder Cannabis (SPDR:TSXV) An established chain of high-end vape stores. Aggressive expansion plan is already in place that will focus on Canadian retail and US Hemp derived kiosks in high traffic areas. Click here for more info.
(TSX-V: SPDR)
Canadian Cannabis Sales Growth: An Analysis
Statistics Canada released June data on cannabis retail sales last week. Nationwide, June retail sales hit $91.1M, which implies an annual run-rate of $1.1B in cannabis sales across Canada.
By: SmallCapPower
Statistics Canada reported that Canadian cannabis sales on a retail level for June continue to show growth across Canada, driven by new retail locations in Ontario, British Columbia, and Alberta
In Canada, unadjusted sales of cannabis in stores have grown by 120% between October 2018 and June 2019 (Figure 1). In our opinion, recreational cannabis sales are set to continue growing with the upcoming legalization of edibles expected in October 2019. With the increasing demand for cannabis products, there are concerns for Canada’s ability to avoid a supply shortage. For instance, Ontario, the most populous province in Canada, currently has 25 retail locations (plans to increase to 67 by October 2019). As it is a heavily-concentrated area for cannabis companies, with Canopy Growth and Aphria being headquartered in the province, there is the largest demand for cannabis at about 2.9M users. We believe that there are currently not enough retailers to meet demand and as more retailers come on-line,  nationwide sales are expected to increase.
Based on Statistics Canada’s June retail sales data, retail
sales are at the highest level since legalization back in October 2018
and have reached an annualized run-rate of $1.1B. Retail sales
grew 6% month-over-month (MoM), a decrease of 900 basis points from the
prior month. By our estimates this represents ~20% legal market
penetration of the illicit market, as Statistics Canada reported that in
2018 total sales of cannabis in Canada totalled ~$6B.
Figure 2: Statistics Canada: Sales Figures by Province
Source: Statistics Canada, Ubika
There was an initial bump in retail sales in April 2019,
which coincided with new store openings nationwide particularly in
Ontario, but that growth seems to have tapered off in June.
Notably, Ontario, Quebec, Alberta, and British Columbia have seen MoM
growth of 13%, 8%, 5%, and 18%, respectively, driven by 69 new
brick-and-mortar retail locations opening from April to June (24 in
Ontario, 2 in Quebec, 30 in Alberta, and 13 in British Columbia). Retail
sales are expected to continue to increase as additional retail stores
are added, particularly in Ontario. Currently, Ontario has approximately
1 store per 115,000 people, compared with Alberta, which has 1 store
for every 10,000 people. Ontario has ~740 liquor stores (1 store/20,000
people) and Alberta has ~875 liquor stores (1 store/5000 people). We are
of the opinion that Ontario could support ~1,500 cannabis retail
stores, which would bring store saturation to ~1 store/10,000 people.
Going into the second half of 2019, we expect steady growth in store
openings, in particular Ontario, where the OCS has announced the 42
winners of the cannabis retail lottery, which will bring the total
number of retail locations in Ontario to 67. This highlights that with
an already underserved market, the provinces will have to start
increasing the number retail locations per province to satisfy demand.
Posted by AGORACOM-JC
at 4:58 PM on Thursday, September 5th, 2019
SPONSOR: Enthusiast Gaming Holdings Inc.
(TSX-V: EGLX) Uniting gaming communities with 80 owned and affiliated
websites, currently reaching over 150 million monthly visitors. The
company exceeded 2018 target with $11.0 million in revenue. Learn More
August Esports Investments Recap
August saw a number of strategic investments in the esports industry.
Five teams raised additional funds to scale their businesses including STILL8’s $4.5M USD investment and former NBA player Kevin Garnett backing Triumph Esports.
August saw a number of strategic
investments in the esports industry. Five teams raised additional funds
to scale their businesses including STILL8’s $4.5M USD investment and
former NBA player Kevin Garnett backing Triumph Esports. Allied Esports
Entertainment finally closed the business combination first announced in
December 2018. BITKRAFT Esports Ventures led two more investment rounds
to get their esports investment count up to seven for the year so far.
Millennial Esports cemented its global restructure and refocus on
esports racing by acquiring motorsport simulator manufacturer
Allinsports and raising investments from former Formula 1 drivers.
During the month of August, The
Esports Observer tracked $35.25M in disclosed investments excluding the
business combination of Allied Esports Entertainment. Financial terms
were not disclosed for all deals highlighted in this article.
Allied Esports Entertainment Deal Finalized
Allied Esports Entertainment (AESE), a special purpose acquisition company (SPAC) known as Black Ridge Acquisition Corp. before the deal, finalized its business combination with esports property and production facility owner Allied Esports and World Poker Tour operator WPT Enterprises.
Both assets had been acquired from previous parent company Ourgame
International. Ourgame CEO Frank Ng will serve as CEO of AESE.
With the closing of this transaction, the previously announced equity investments of $5M each by Mexican media company TV Azteca and U.S. property company Simon Property Group
have been realized. Lyle Berman—a member of the board of directors of
both Black Ridge Acquisition Corp. and its sponsor Black Ridge Oil &
Gas, and the largest shareholder of the sponsor—invested $3M.
Furthermore, Morris Goldfarb, chairman and CEO of American clothing
company G-III Apparel Group, invested $2M. In total, Allied Esports
Entertainment raised $18M; the source of the remaining $3M has not been
disclosed by Allied Esports.
In addition to equity investments, TV Azteca and Simon Property
will enter strategic alliances with AESE. Simon Property will integrate
gaming venues and production facilities in its properties around the
U.S. In May, TV Azteca and Allied already collaborated to create aPLAYERUNKNOWN’S BATTLEGROUNDS
esports series called NATION VS NATION, which featured 40 competitors
in a “USA vs. Mexico†format. The tournament’s Mexican broadcast reached
over 2M viewers.
Going forward, TV Azteca and Allied
will expand their work together through a number of projects including
building a flagship esports venue in Mexico and creating a 24-hour
digital esports channel for the Mexican market.
Roundhill’s Take: The
SPAC transaction, which was initially announced in December 2018, has
finally closed. As a result, the public markets have another “pure-playâ€
esports company, joining the likes of Super League Gaming and
Enthusiast Gaming. According to Company IR, Adjusted EBITDA is projected
to turn positive in 2020, at a projected $8.7 million.
STILL8 is planning to cooperate with
fintech firm Dunamu, an affiliate of Dunamu & Partners, following
the investment. Existing STILL8 investor Kakao Ventures is one of the
major stakeholders in Dunamu.
Both Lee Beomsuk, CEO of Murex
Partners; and Kang Dongmin, vice-president of Murex Partners; are
familiar with STILL8’s growth potential as they were with Partners
Investment when the firm invested in STILL8 before they established
Murex Partners.
Proceeds from the funding round will
be used to continue investing in building Team Griffin’s brand and
expand into new games and geographies. The current investment is a
bridge funding supporting the scaling of the business while looking for
further investments in 2020.
Roundhill’s Take: STILL8 looks to
continue optimizing its Team Griffin brand outside of South Korea. This
follows its move in July to partner with Huya for Team Griffin’s
Chinese streaming, a contrast to similar deals signed with rival
streaming platform DouYu by STILL8 on behalf of Gen.G and SKT T1.
Competition for content is increasing between Chinese platforms, as it
is in North America, following Ninja’s move from Twitch to Mixer.
Roundhill’s Take: As esports
monetization progresses, leading gaming organizations continue to focus
on establishing themselves as content, media, and apparel brands. From a
strategic perspective, bringing on Offset as an investor can help widen
the brand’s reach. It is not difficult to imagine a scenario where
brand loyalties evolve well beyond the scope of gaming and esports.
Teams Find Backing From Mexico, India, and an NBA Legend
Full service esports company and parent organization of Overwatch Contenders participant Triumph Gaming, Triumph Esports, raised an investment from 15-time NBA All-Star Kevin Garnett though his event management and production company, Big Ticket Sports.
Triumph Esports will add an esports experience to the established
three-on-three basketball tour Hoop It Up, that is organized by
Garnett’s Big Ticket Sports.
Allinsports, an Italian motorsport simulator manufacturer, was acquired by Millennial Esports, who purchased a 51% stake in the company for $6.25M. Millennial
has the option to purchase the remaining 49% in a six-month timeframe
beginning 18 months after the closing of the first transaction.
Allinsports’ eRacer simulator will be used in Millennial Esports’
upcoming World Fastest Gamer competition.
Tournament operations platform Matcherino received $1.5M in a Series A-1
investment from Galaxy Digital’s Galaxy EOS VC Fund and Wells Fargo
Strategic Capital. While the Series A-1 funding round has raised more
than $4.1M to date including investments from aXiomatic Gaming and Seven Peak Ventures, the company has raised more than $7.7M in total.
Posted by AGORACOM-JC
at 3:15 PM on Thursday, September 5th, 2019
SPONSOR: Tartisan Nickel (TN:CSE)
Kenbridge Property has a measured and indicated resource of 7.14
million tonnes at 0.62% nickel, 0.33% copper. Tartisan also has
interests in Peru, including a 20 percent equity stake in Eloro
Resources and 2 percent NSR in their La Victoria property. Click her for more information
The price of nickel on international markets continued its dizzying climb Wednesday, breaking past US$8 a pound before settling in at US$8.17 late in the day.
It’s a surge Terry Ortslan, a nickel analyst at TSO and Associates in
Montreal, saw coming in late 2018, when the metal was struggling to hit
$5.
“We all know batteries for electric vehicles are going to be very
important new demand source of nickel, as much as stainless steel was 50
or 60 years ago,” he said at the time. “So it’s going to be slow times
for the next couple of months, but it’s a short-term issue.
“But for the battery-grade nickel that both Vale and Glencore
produce, there’s no problem. I think there’s going to be a great market
for it. I’d be really surprised if, once we go through this uncertainty
over the next three or four months, nickel prices aren’t back in the
saddle again.”
On Wednesday, Ortslan said fears of supply shortages – especially
after Indonesia banned nickel exports – are driving prices right now.
“The supply side is dominating the market trend,†he said in an
email. “The demand side is strong but the impact of electric vehicles
are still some time away.â€
But there hasn’t been much investment in new supply, he said, and that’s causing fears in the marketplace.
“The underinvestment into the nickel industry will be catching up
with higher prices,†Ortslan said. “The industry needs a steady $8-$10 a
pound of nickel for brownfield and greenfield investment
considerations.â€
In Sudbury, Glencore declined comment on rising prices, but Angie
Robson, Vale’s director of corporate affairs and sustainability, North
Atlantic operations and Asian refineries, said higher nickel prices is
always good news.
“While we don’t comment on the market, I can tell you that we
continue to work very hard to be a sustainable producer that is
competitive in all price cycles – both high and low, especially given
the cyclical nature of our business,†Robson said in an email. “With
respect to our local operations, we continue to invest in increased
exploration, in mine expansions such as Copper Cliff Mine, and in new
projects such as our joint feasibility study with Glencore on our Victor
deposit.â€
The company is always looking for ways to be profitable regardless of
price fluctuations, she said, with an eye on long-term goals.
“We are also continuing on our journey to digitize our mines to become a
safer and more reliable operation,†Robson said. “While we certainly
welcome the higher prices, we intend to continue mining in Sudbury for
many years to come and won’t rely on favourable prices alone for our
long-term success.â€
Favourable prices are expected to continue – late Wednesday, Goldman Sachs revised its price forecast, predicting nickel would rise to US$11 a pound before the end of the year.
Posted by AGORACOM-JC
at 2:50 PM on Thursday, September 5th, 2019
SPONSOR: CardioComm Solutions (EKG: TSX-V) – The heartbeat of cardiovascular medicine and telemedicine. Patented systems enable medical professionals, patients, and other healthcare professionals, clinics, hospitals and call centres to access and manage patient information in a secure and reliable environment.
EKG: TSX-V ———————-
How mHealth is Maturing and Changing Healthcare Delivery
As the market for mobile health tools continues to flourish, patients and providers experience a growing list of benefits.
Mobile devices and applications — tablets, smartphones, wearables, streaming services and gaming consoles — are at the heart of both work and play.
This is true in the healthcare world as well.
Zion Market Research predicts the global market for mHealth apps will grow to more than $11 billion by 2025.
Gus Vlahos is the Director of Healthcare Sales for CDW in the Central Region.
Mobile devices and applications — tablets, smartphones, wearables,
streaming services and gaming consoles — are at the heart of both work
and play. This is true in the healthcare world as well. Zion Market Research predicts the global market for mHealth apps will grow to more than $11 billion by 2025.
Patients Benefit from Expanded Access to Health Data and Devices
On the consumer side, apps that track vital signs are a boon
for population health and preventive care. Wellness apps are being
utilized to help people understand and engage in their health.
Mobile apps and devices are also the foundation of many hospital programs designed to boost patient satisfaction and quality of care. For instance, Phoenix Children’s Hospital equips its rooms with iPad devices
and other mobile tools so patients and their families can access
educational materials, discharge instructions, medical records and
treatment plans. Patients can also check their social media accounts and
stream movies from the same bedside devices.
Mobility Drives Better Patient Care and Physician Workflows
Beyond the world of wellness apps and patient-focused devices, other
technologies designed for medical professionals — such as medical record
portals and e-prescription tools — are reshaping healthcare services,
from the emergency room to post-acute care.
The FDA also gave the green light to Triton OR,
which uses artificial intelligence to monitor blood loss collected by
surgical sponges and suction canisters in the operating room. Triton OR
also assists surgical staff in making transfusion decisions and
predicting postoperative hemoglobin levels.
These are just a few of the modern medical devices and apps
available. The future is constrained only by the imagination and talent
of healthcare IT professionals. We have much more to look forward to.
Posted by AGORACOM
at 1:41 PM on Thursday, September 5th, 2019
Kamloops, British Columbia–(Newsfile Corp. – September 5, 2019) –
Advance Gold Corp. (TSXV: AAX) (“Advance Gold” or “the Company”) is
pleased to announce that the recently completed 3D Induced Polarization
(IP) geophysical survey on its Tabasquena project in Zacatecas, Mexico
has outlined a significant continuous chargeability anomaly. This
anomaly has an east-west width of approximately 250 metres and an
apparent strike length of over 800 metres. The anomaly remains open to
the north and to the south and at depth.
The complete geophysical report on this work is available on the
company’s web site. Image below are cross sections representing a key
portion of the overall anomaly.
Allan Barry Laboucan, President and CEO of Advance Gold Corp. commented: “Based
on the size and number of vein intersections in the near surface
drilling in the andesites, our exploration team has felt that we have
found a very large system. The IP survey has now identified such a
possible system. Where the IP anomaly starts is approximately 100 metres
below the past drilling and almost directly under the main Tabasquena
vein. This depth is very important because it is approximately where the
graphitic phyllite horizon begins. The major mines nearby, operated by
Fresnillo Plc., and MAG Silver’s Juanicipio mine currently under
construction, are epithermal veins systems focused on zones within the
graphitic phyllites. We have now established the existence of a large IP
anomaly, below the widespread gold and silver mineralized veins, in the
graphitic phyllite horizon. We are currently making plans to extend the
IP grid to the north and south, and to commence our next drilling
campaign. To put the size of the anomaly into perspective, while taking
into consideration the widespread gold and silver mineralization above
it, it is safe to say that this is the size that all major gold and
silver mining companies would be interested in. It is clear to see that
our small gold and silver exploration company is sitting on a very large
target at a time when the industry is dramatically in need of new gold
and silver discoveries.”
Details of Geophysical Survey
The 3D Induced Polarization survey was carried out by GEOFISICA TMC
SA de CV, between August 3rd and August 14th, 2019. Approximately 9.6
kms of IP data was collected over the central portion of the company’s
claims. The IP grid consisted of nine, east-west lines, 100 metres
apart. Lines were approximately 1 km long. An off-set pole dipole array
was used.
Data processing and inversion of the data was carried out using
RES3DINV software. The inversion model was extended to approximately 550
meters below surface. 3D Voxel images together with a series of depth
slices were generated (all available on the company’s website).
The main purpose of the IP survey was to map, laterally and at depth
the evolution of the known silver veins and to identify new mineralised
structures. The survey was designed in such a way to allow approximately
500 to 550 metres of vertical depth investigation.
The IP survey area encompassed the historic and new shafts that are
located to the east of the Tabasquena and Nina veins that define a
mineralised system that outcrops at surface for 2.0 km. From past
exploration work, the Tabasquena vein was recognized over approximately
70 m along strike near the shaft but only at shallow depth (< 100 m).
The nine (9) vertical sections that were extracted from the 3D IP
inversion voxels suggest the presence of (4) four main stratigraphic
horizons (lithological units) mainly characterized by their resistivity
signatures.
The IP data also clearly shows that the large polarisable body/target
is apparently quickly deepening northward and getting closer to surface
southward. The IP anomaly starts at around 100 metres below the past
drill hole intersections that contained widespread gold and silver
mineralization in epithermal veins.
Chargeability and resistivity anomalies are indicated on the IP
sections (see report on company’s website) and are graded as per their
relative strength. Those chargeability anomalies that are deemed to be
caused by the same anomalous target are grouped together in what is
called a polarisable axis. Only one main axis was delineated following
the review of the IP data, which was labeled IPT-1 (Map C351-3 &
Figure 11, report on company website). This axis is a single large
amplitude continuous anomaly running north-south, coincident with the
two shafts at Tabasquena and the surface projection of the mineralised
veins. This anomaly has been categorized as having a high chargeability
and is conductive. The anomaly has an average depth of approximately 250
to 300 meters. The most southerly line (L7150N) clearly shows that this
anomaly is becoming shallower as one moves to the south. It should also
be mentioned that this anomaly is visible on every line, albeit less
intense on the most northerly line, as the target is becoming deeper to
the north.
In conclusion
This geophysical work has identified a large consistent chargeability
anomaly that can be seen on all lines, implying a strike extent of at
least 800 meters and an apparent width of 250 meters. This observed IP
anomaly could define a much wider mineralised system at depth.
The main recommendation of the geophysical report is to extend the 3D
IP survey to the southeast for at least 1 km in the direction of the
Tesorito shaft, which will determine the southerly extension of the main
anomaly and establish whether this main target is becoming shallower.
Following this a number of proposed boreholes are planned to intersect
this anomaly.
Julio Pinto Linares is a QP, Doctor in Geological Sciences with
specialty in Economic Geology and Qualified Professional No. 01365 by
MMSA., and QP for Advance Gold and is the qualified person as defined by
National Instrument 43-101 and he has read and approved the accuracy of
technical information contained in this news release.
About Advance Gold Corp. (AAX.V)
Advance Gold is a TSX-V listed junior exploration company focused on
acquiring and exploring mineral properties containing precious metals.
The Company acquired a 100% interest in the Tabasquena Silver Mine in
Zacatecas, Mexico in 2017, and the Venaditas project, also in Zacatecas
state, in April, 2018.
The Tabasquena project is located near the Milagros silver mine near
the city of Ojocaliente, Mexico. Benefits at Tabasquena include road
access to the claims, power to the claims, a 100-metre underground shaft
and underground workings, plus it is a fully permitted mine.
Venaditas is well located adjacent to Teck’s San Nicolas mine, a VMS
deposit, and it is approximately 11km to the east of the Tabasquena
project, along a paved road.
In addition, Advance Gold holds a 14.63% interest on strategic claims
in the Liranda Corridor in Kenya, East Africa. The remaining 85.37% of
the Kakamega project is held by Acacia Mining (63% owned by Barrick Gold
Corporation).
Posted by AGORACOM-JC
at 12:02 PM on Thursday, September 5th, 2019
Opening boutique retail locations in Palm Beach Outlets
Located just off the I-95, on Palm Beach Lakes Blvd in West Palm Beach, this location will expand Spyder’s physical footprint to a projected 12 total locations by the end of this year
Potential for additional locations in the future.
Vaughan, Ontario–(September 5, 2019) – Spyder Cannabis Inc. (“Spyder“), an established Canadian cannabis supply and vape retailer, announced today an arrangement through which Spyder will open boutique retail locations in Palm Beach Outlets.
Located just off the I-95, on Palm Beach Lakes Blvd in West Palm
Beach, this location will expand Spyder’s physical footprint to a
projected 12 total locations by the end of this year, with the potential
for additional locations in the future. Spyder will offer first-class
retail sale of products of the highest quality and as permitted by the
governing laws of the State of Florida. Products will be limited to
oils, lotions, bath products and candies.
“Palm Beach outlets is one of the highest traffic outlet malls in
Florida, has received many retail awards and has 100 + brand stores with
Whole Foods as an anchor tenant,” stated Daniel Pelchovitz, CEO and
President of Spyder. “This move is part of Spyder’s strategic plan to
develop a robust, planned network of boutique retail stores and kiosks
across the US focused on the specific health and wellness aging and
athletics sectors.”
Spyder intends on partnering with a variety of developers and
realtors to sign lease agreements for prime real estate in strategically
located in high traffic areas of malls, near senior living centres, and
sporting venues throughout the U.S. starting in Florida, California,
New York and Michigan state. These boutiques will stock Spyder’s SPDR
(R) branded and infused products developed for an aging, health and
wellness demographic. Spyder will offer a wide array of product
offerings including; muscle balm, face oil, body lotion and bath salts,
as well as wellness tinctures, capsules and sprays.
About Spyder Cannabis
Founded in 2014 Spyder is an established chain of three high-end vape
stores, and two cannabis accessory stores, in Ontario, with locations
in Woodbridge, Scarborough, Burlington, Pickering and Niagara Falls. The
Spyder brand is defined by its high-quality proprietary line of
e-juice, liquids and exclusive retail deals, dispensed in uniquely
designed stores creating the optimal customer experience. Spyder is
building off this leading retail, distribution and branding eCig and
vapes company and is pursuing expansion into the legal cannabis and hemp
derived market. Spyder has developed a scalable retail model with plans
to create a significant footprint with targeted and disciplined retail
distribution strategy focusing on Canadian retail and U.S. boutique
retail and kiosks in high traffic peripheral areas
FOR ADDITIONAL INFORMATION, PLEASE CONTACT:
For more information, please contact:
Spyder Cannabis Inc. Dan Pelchovitz President & Chief Executive Officer Contact: Investor Relations Phone: 1-888-504-SPDR (1-888-504-7737) Email: [email protected]
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.
This news release includes statements containing certain
“forward-looking information” within the meaning of applicable
securities laws (“forward-looking statements”). Forward-looking
statements are frequently characterized by words such as “plan”,
“continue”, “expect”, “project”, “intend”, “believe”, “anticipate”,
“estimate”, “may”, “will”, “potential”, “proposed” and other similar
words, or statements that certain events or conditions “may” or “will”
occur..
These statements are only predictions. Various assumptions were used
in drawing the conclusions or making the projections contained in the
forward-looking statements throughout this news release. Forward-looking
statements are based on the opinions and estimates of management at the
date the statements are made. Any number of risks and uncertainties and
other factors that could cause actual events or results to differ
materially from those projected in the forward-looking statements.
Posted by AGORACOM-JC
at 11:16 AM on Thursday, September 5th, 2019
SPONSOR: Betteru Education Corp.
aims to provide access to quality education from around the world. The
Company plans to bridge the prevailing gap in the education and job
industry and enhance the lives of its prospective learners by developing
an integrated ecosystem. Click here for more information.
BTRU: TSX-V
How Byju Raveendran Built A $5.5 Billion Business With His EdTech Startup
Byju’s has become the rage among students across India, enrolling 35 million to its math and science tutoring app. Photo: Gayatri Ganju Â
Byju Raveendran got the first inkling he might have a future in education as a teenager tutoring 11th and 12th graders clamoring for his help to pass their exams. Back then, he was just an 8th grade math whiz.
In 2006, Raveendran launched what has turned into the world’s most valuable education technology business, Byju’s. From its start offering test-prep classes, Byju’s has become the rage among students across India, enrolling 35 million to its math and science tutoring app. In July, it received funding from a group of investors that included Qatar’s sovereign wealth fund and valued it at $5.5 billion—and Raveendran has a 26% stake in the company.
Raveendran’s wife, Divya Gokulnath, 33 is cofounder and a director on Byju’s board.
Photo: Gayatri Ganju
Today In: Asia
“This is not a business which I started as a business,†says
Raveendran, who plans to use his new funding to expand his $200 million
(sales) company into Australia, the U.K. and the U.S. “It’s a passion
which ended up becoming a business.†His timing appears ripe: the global
education technology, or edtech, industry will grow 61% from $349
billion in 2018 to $562 billion by 2022, according to U.K.-based
market-research firm Technavio. The latest $150 million infusion led by
Qatar Investment Authority brings the total funding received by Byju’s
to more than $1 billion, following a $31 million investment in March led
by U.S. private equity firm General Atlantic and China’s Tencent, and $540 million last December from South Africa’s Naspers and the Canada Pension Plan Investment Board.
Raveendran, 38, is the son of teachers. After earning a bachelor’s
degree in mechanical engineering in Kerala, India, he took a job in
Singapore in 2001 as a globetrotting engineer at a shipping company.
During trips back home, he helped friends prepare for the
ultra-competitive admission test for India’s elite business schools, the
Indian Institutes of Management. Just for fun, he took the exam twice
himself, scoring in the top 1% each time.
Raveendran got the first inkling he might have a future in education
as a teenager tutoring 11th and 12th graders clamoring for his help to
pass their exams.
Photo: Gayatri Ganju
In 2005, Raveendran quit his job and returned to India to teach
business-school applicants full-time. Within six weeks, he had 1,200
students. He soon started traveling to nine cities. But by 2009 he
started broadcasting lessons via satellite. Raveendran soon realized
that his aspiring business-school students were struggling with math and
science that they should have learned at a much earlier age. To help
redress that gap, in 2011 he launched Think & Learn, the company
that is Byju’s parent.
“The first thing that struck me about Byju was that he was passionate about teaching,†says Ranjan Pai,
the billionaire doctor who controls the education and healthcare
focused Manipal Group. “But when he asked me for $8 million, I nearly
fell off my chair.†Impressed by Raveendran’s confidence, Pai obliged
him and in 2012 became one of Byju’s first two investors, buying a 26%
stake alongside a former software executive. He still retains 1% of
Byju’s.
India appears fertile ground for edtech: the country has 260 million
school-age children struggling through a system rife with poorly
qualified teachers in an increasingly tech-savvy economy starving for
skilled workers. “You have here a proliferation of smartphones,
almost-free bandwidth, ubiquitous internet access and ease of digital
payments,†says Krishnan Ganesh, who cofounded the online education
company TutorVista in 2005, then sold it to U.K.-based Pearson in 2011,
before Byju’s bought part of it from Pearson in 2017. “And you have
parents who will spend a disproportionate amount of their disposable
income on education.â€
Byju’s has raised more money than any other edtech startup.
Source: Holoniq
In 2015, Byju’s released its first app, a math and science tutor for
6th to 12th graders and followed it up two years later with one for 4th
and 5th graders. In addition to providing video lessons, the app gauges
whether the student has understood the concepts. Based on the response,
the app takes the student either to the next level or back to basics.
“This is what teachers can never do,†says Raveendran. “They’re unable
to assess how much each student has really understood any topic.â€
Within three months of launching, the app had been downloaded two
million times. Today, Byju’s has enrolled 35 million students, with 2.4
million paying between $150 to $200 each for an annual subscription.
Byju’s $200 million in annual sales is still tiny compared to the $3.9
billion at Japan’s Benesse Holdings, Asia’s largest listed education
company. Yet it’s already profitable—earning more than $2 million in its
latest fiscal year—and growing fast. Spurred on by a recent focus on
students in smaller cities, Byju’s expects revenue for the year ending
next March to more than double to $440 million.
Byju’s inevitably faces a proliferation of challengers, including Vedantu, which is backed by China’s TAL Education Group
and offers live, one-on-one tutoring, as well as Toppr, which provides
online test preparation. And while China’s own edtech players—such as
VIPKid—are not direct rivals, they compete for the same investment pool.
Byju’s is now the fourth most-highly valued startup in India, after
mobile payments and e-commerce firm Paytm, hotel operator Oyo and
ride-hailing app Ola.
Photo: Gayatri Ganju
So far, Byju’s has grabbed the largest chunk of money. In 2016,
Byju’s landed $50 million for an undisclosed stake from a group that
included U.S. venture capital firm Sequoia Capital and Mark Zuckerberg and wife Priscilla Chan’s Chan-Zuckerberg Initiative,
marking that fund’s first investment in Asia. In 2017, China’s Tencent
invested $40 million on its own. Byju’s is now the fourth most-highly
valued startup in India, after mobile payments and e-commerce firm
Paytm, hotel operator Oyo and ride-hailing app Ola, after the latest
Qatar-led investment round.
Raveendran hoped to stay ahead of the competition by broadening his
product offering and expanding into new markets. This year, Byju’s plans
to add English and social sciences to its curriculum. And in January,
Raveendran paid $120 million to buy Osmo, a U.S. maker of education
games. In June, he launched a cobranded app with Disney called the
Disney Byju’s Early Learn app, aimed at India’s 5 to 8-year olds. “We’ll
be expanding with more products, more grades and more markets,†he
says.
Byju’s is already working to widen its youth appeal: In Bangalore, a
team of 1,100 animators, gamers, developers and teachers are developing
lessons for tech-savvy 3 to 8-year-olds that feature locally developed
animated characters. “They have some X factor which kids like,†says
Raveendran.
Posted by AGORACOM
at 10:39 AM on Thursday, September 5th, 2019
Acquired 5 new claims to consolidate the current St-Onge Wollastonite Project model
Surface area covers 1747 hectares (17.5 square kilometres)
The
high-grade St-Onge Wollastonite deposit has pit-constrained mineral
resources of: 7,155,000 tonnes Measured@ 36.20% Wollastonite &
6,926,000 tonnes Indicated@ 37.04%
B.C. Buds Testing Confirmed Wollastonite is Critical to Marijuana Growers
Engaged AGRINOVA over the past year to conduct research and
testing of Vertical’s St-Onge wollastonite on a range of important
agricultural end uses.
Vertical is researching the use of Wollastonite as a soil additive for optimizing marijuana growth
Phase Three trials involving cannabis grown with Wollastonite
(CaSiO3) as a soil additive at BC Bud Depot’s (BCBD) ACMPR-licenced
Research and Development facilities in Vancouver, BC
Phase Three trials measured and recorded significant improvements in root mass, powdery mildew control and pest elimination.
In every case the most optimal results occurred with an admixture rate of 10% to 15% Wollastonite to the growth medium
WOLLASTONITE
St-Onge-Wollastonite Deposit located approximately 90 kilometres
Northwest of the city of Saguenay, in St-Onge township, in the
Saguenay-Lac-St-Jean region of Quebec, Canada.
Research and testing in the Phase 1 program for use in cannabis growth was managed and monitored by AGRINOVA, a highly-regarded Center for Research and Innovation in Agriculture in Quebec
Posted by AGORACOM-JC
at 10:29 AM on Thursday, September 5th, 2019
SPONSOR: Esports Entertainment
$GMBL Esports audience is 350M, growing to 590M, Esports wagering is
projected at $23 BILLION by 2020. The company has launched VIE.gg
esports betting platform and has accelerated affiliate marketing
agreements with 190 Esports teams. Click here for more information
GMBL: OTCQB
———————–
In just a decade, electronic sports (eSports) has evolved from an underground culture into a mainstream industry worth billions of dollars today
The industry is growing at an explosive rate, and with major tech giants like Amazon and Google vying for a piece of the pie, the future of this industry is an exciting one.
How the eSports Industry Fares Against Traditional Sports
In just a decade, electronic sports (eSports) has evolved from an
underground culture into a mainstream industry worth billions of dollars
today.
The industry is growing at an explosive rate, and with major tech giants like Amazon and Google vying for a piece of the pie, the future of this industry is an exciting one.
It’s no surprise that eSports is often compared to its predecessor,
traditional sports. However, eSports certainly has none of the typical
confines of a traditional sport—so how does it compare in terms of
audience size, market potential, and revenue?
An Equal Playing Field?
eSports is an umbrella term for competitions played on electronic
systems, typically by professional video gamers—with the first
competition dating back to 1972.
The 16 to 24-year-old audience has increased by 60% since 2017,
fueling the rapid growth of this emerging industry. The global audience
is expected to grow to 276 million by 2022, with League of Legends tournaments often boasting a higher viewership than some of the biggest U.S. leagues:
Cumulative Viewership (2017 finals)
NFL Super Bowl: 124 million viewers
League of Legends: 58 million viewers
MLB World Series: 38 million viewers
NBA Finals: 32 million viewers
NHL Stanley Cup Finals: 11 million viewers
While viewership can surpass that of well-known professional leagues,
it doesn’t yet stack up in terms of monetization. That said, this
aspect is now increasing enough to be seen as a threat to more
traditional leagues.
How Much is eSports Worth?
According to Goldman Sachs, eSports will exceed $1 billion in revenue
in 2019, and reach $3 billion by 2022. eSports creates the foundation
for an entire ecosystem
of opportunities, which include live-streaming, game development,
player fanbases, and brand investments for sponsorship and
advertising—where 82% of revenue currently comes from.
Although eSports under-indexes on monetization relative to the size
of its audience, there is a huge opportunity for it to close the gap,
given the predicted 35% compound annual growth rate (CAGR) for total
eSports revenue between 2017 and 2022.
Getting Attention from the World’s Biggest Players
The success of eSports tournaments is attributed to live-streaming
platforms. Amazon’s purchase of leading video-streaming site, Twitch,
allowed Amazon to tap into the rapidly growing eSports audience, along
with other live-streaming opportunities. Since the acquisition in 2014,
the number of average viewers has doubled to 15 million, half of
YouTube’s daily viewership.
Google, which lost the bidding war for Twitch, has recently made its own big move into gaming with cloud gaming service Google Stadia. Ultimately, the company hopes it will help keep live-streamers on YouTube instead of competing platforms.
The Future of eSports
Over time, eSports will tap into bigger advertising budgets, and
reach national, regional, and global levels, as traditional sports are
able to. eSports will also be a medal event in the 2022 Asian Games, which could pave the way for full Olympic status.
As a whole, eSports is starting to seriously compete with the big
leagues. With a massive worldwide appeal, passionate fans, and
billion-dollar revenues, the industry is only beginning to take flight.
The debate however, is not around the battle between eSports and
traditional sports. It is around the shift to celebrating a culture that
is completely virtual, over one that is physical—which has much bigger
implications.
Posted by AGORACOM-JC
at 8:23 AM on Thursday, September 5th, 2019
HPQ Silicon (HPQ:TSXV)
has switched gears in the last 2 weeks, with “commercialization” of
their revolutionary silicon manufacturing technology taking center
stage.On August 19th, CEO Bernard Tourillon stated:
“We are ready to start commercializing
our PUREVAP™ QRR technology. We are aiming to completely revolutionize
the economics of the $24B industry and create significant cash flow.In the coming months we will be meeting with end users…”
Then
on September 4th, HPQ announced a 2nd patent filing, which can be
inferred as very high confidence in the commercialization of the
technology. In fact, the CEO of their technology partner, PyroGenesis
Canada, stated as follows:
” “At
PyroGenesis we have developed an approach to protecting Intellectual
Property, and we have the patent portfolio to prove it. We only engage
in patent applications where we feel (i) that we will prevail with an
award and (ii) that there is commercial application to protect.â€
The
winds at HPQ Silicon have definitely shifted in the past 2 weeks.
After 3 years of developing a new process for manufacturing silicon
metal that is far cheaper and cuts green house gas emissions by as much
as 90%, it appears HPQ and their world class partners – Apollon Solar
and PyroGenesis – are making serious preparations to come to market.
