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$AAO.ca Augusta Provides Updates

Posted by AGORACOM at 9:32 AM on Monday, July 16th, 2018

Augusta Provides Updates

    • FOX-TEK’s Clean Growth Program was not on the 100 asked to proceed to the next stage.
    • It was identified, at the expert evaluation stage, as being a project having substantial merit
    •  Augusta’s annual and special shareholders’ meeting was held on July 11, 2018

Toronto, Ontario–(Newsfile Corp. – July 16, 2018) – Augusta Industries Inc. (TSXV: AAO) (the “Corporation”), a developer and marketer of patented non-intrusive sensing systems, would like to provide a general update.

Clean Growth Program Further to its press release of March 5, 2018, the Corporation reports that the letter of intent that was submitted by its wholly owned subsidiary, Fox-Tek Canada Inc. (“Fox-Tek”), to the Green Growth Program was not chosen as one of the 100 proposals to proceed to the full project proposal stage.

The Clean Growth Program covers five areas focused on pressing environmental challenges and economic opportunities facing Canada’s natural resource operations:

  • Reducing greenhouse gas and air-polluting emissions.
  • Minimizing landscape disturbances and improving waste management.
  • The production and use of advanced materials and bio-products.
  • Efficient energy use and productivity.
  • Reducing water use and impacts on aquatic ecosystems.

The program received approximately 750 proposals and of these, only 400 proposals were selected for expert evaluation, of which Fox-Tek’s proposal, which was focused on landscape disturbances and waste management in the energy sector, was one of those chosen. Of the 400 proposals, only 100 were invited to participate in the full project proposal stage. Due to the high number of quality submissions received by the Clean Growth Program, Fox-Tek’s proposal was not on the 100 asked to proceed to the next stage.

Although the Fox-Tek proposal will not be participating in the full project proposal stage, it was identified, at the expert evaluation stage, as being a project having substantial merit. As such, the Clean Growth Program has notified Fox-Tek that it will be introducing the company’s proposal to the Clean Growth Hub and other federal and/or provincial programs with the intention of securing government funding to proceed with its proposal.

The Clean Growth Hub is a “whole-of-government” focal point for the Government of Canada’s clean technology ecosystem focused on supporting companies and projects.

Shareholders’ Meeting

The Corporation is pleased to announce that at its annual and special shareholders’ meeting held on July 11, 2018, the shareholders approved the following matters:

  1. The appointment of Messieurs Allen Lone, Warren Goldberg, Tony Boogmans, Steve Ewaskiw and Jay Vieira as directors.
  2. The appointment of Wasserman Ramsay, Chartered Accountants, as auditors of the Corporation.
  3. The ratification of the Corporation’s stock option plan.
  4. The proposed change of business of the Corporation from an ‘industrial issuer’ to an ‘investment issuer’.
  5. The proposed change of the Corporation’s name from its current form to “IntellaEquity Inc.”
  6. The proposed sale of all of the issued and outstanding securities of Fox-Tek to Mooncor Oil & Gas Corp. pursuant to an amalgamation agreement dated June 11, 2018.
  7. The proposed consolidation of the Corporation’s issued and outstanding common shares on an one (1) for up to twenty (20) basis.
  8. The proposed delisting of the Corporation’s common shares from the TSX Venture Exchange and the listing of its shares for trading through the facilities of the Canadian Securities Exchange.

The Corporation would like to thank all of its shareholders that voted their shares in favor of the matters presented and the Corporation will provided updates on same as they become available.

Extension of Warrants

The Corporation will also like to announce that it has received TSX Venture Exchange approval and as of July 14, 2018, the expiry date of the 20,200,000 common share purchase warrants (the “Warrants”) of the Corporation was extended from July 14, 2018 to July 14, 2020.

The Warrants, which were originally issued on July 14, 2015, were issued pursuant to the Corporation’s private placement offering of 20,200,000 units. Each Unit was comprised of one (1) common shares and one (1) common share purchase warrant (the “Warrant”). Each Warrant entitles the holder thereof to acquire one (1) common share at an exercise price of $0.07 per share at any time until close of business on July 14, 2018.

Each Warrant, as amended, will entitle the holder thereof to purchase one common share of the Corporation at any time until the close of business on July 14, 2020 at an exercise price of $0.07 per common share. All other provisions of the Warrants will remain the same.

About the Corporation:

Through its wholly owned subsidiaries, Marcon International Inc. (“Marcon”), Paragon Blockchain Inc. (“Paragon”) and Fox-Tek, the Corporation provides a variety of services and products to a number of clients.

Marcon is an industrial supply contractor servicing the energy sector and a number of US Government entities. Marcon’s principal business is the sale and distribution of industrial parts and equipment (Electrical, mechanical and Instrumentation.) In addition to departments and agencies of the U.S. Government, Marcon’s major clients include Saudi Arabia-Sabic Services (Refining and Petrochemical), Bahrain National Gas Co, Bahrain Petroleum, Qatar Petroleum, Qatar Gas, Qatar Petrochemical, Gulf of Suez Petroleum, Agiba Petroleum and Burullus Gas Co.

Fox Tek develops non-intrusive asset health monitoring sensor systems for the oil and gas market to help operators track the thinning of pipelines and refinery vessels due to corrosion/erosion, strain due to bending/buckling and process pressure and temperature. The Corporation’s FT fiber optic sensor and corrosion monitoring systems allow cost-effective, 24/7 remote monitoring capabilities to improve scheduled maintenance operations, avoid unnecessary shutdowns, and prevent accidents and leaks.

Paragon has the potential to unlock substantial new opportunities capable of impacting the business of Marcon. Specifically, Marcon seeks to create an eco-system in the supply chain management of clients to change the dynamics of the scoping and bidding process by providing vendors and subcontractors with A.I. data mining tools to proactively drive the process. Blockchain technology is of critical importance to Fox-Tek as well particularly the expansion of its’ non-intrusive technology in the oil & gas industry, whose clients include many of the biggest companies in the world.

Corporation contact:

Allen Lone, President and C.E.O
Tel: (905) 275 -8111 Ext 226
email: [email protected]

$AAO.ca Augusta Selling FOX-TEK Canada to Mooncor for Aggregate Purchase Price of up to $21.5 Million $ENB.ca

Posted by AGORACOM at 10:49 AM on Monday, May 28th, 2018

  • Entered into a LOI for sale of FOX-TEK Canada Inc. to Mooncor
  • Aggregate purchase price of up to $21.5-million
  • $9,500,000 of the Purchase Price will be satisfied through the issuance of an aggregate of 47,500,000 post-consolidated common shares in the capital of Mooncor at a price of $0.20 per Consideration Share
    • balance of the Purchase Price, being up to $12,000,000, satisfied through a royalty of 15% on all future sales of FOX-TEK’s products and a 20% royalty on all future sales of FOX-TEK’s services

Augusta Industries Inc. and Mooncor Oil & Gas Corp. have entered into a letter of intent pertaining to the sale of FOX-TEK Canada Inc. by Augusta to Mooncor for an aggregate purchase price of up to $21.5-million.

$9,500,000 of the Purchase Price will be satisfied through the issuance of an aggregate of 47,500,000 post-consolidated common shares (the “Consideration Shares”) in the capital of Mooncor at a price of $0.20 per Consideration Share. The balance of the Purchase Price, being up to $12,000,000, will be satisfied through a royalty of 15% on all future sales of FOX-TEK’s products and a 20% royalty on all future sales of FOX-TEK’s services (collectively, the “Royalty”). The Royalty shall be payable until the earlier of (i) the 10 year anniversary of the closing of the acquisition of FOX-TEK, and (ii) the aggregate payment of $12 million.

Pursuant to the LOI, FOX-TEK and Sensor Technologies Inc. (“Sensor”), a wholly owned subsidiary of Mooncor, will enter into an amalgamation agreement (the “Agreement”) whereby FOX-TEK will amalgamate with Sensor to form a new company (“AmalCo”). Both Augusta and Mooncor will receive shares in AmalCo as a result of the amalgamation. Augusta will transfer its securities in the capital of AmalCo to Mooncor in exchange for the Consideration Shares. As a result of the amalgamation, and the issuance of the Consideration Shares, FOX-TEK will be a wholly owned subsidiary of Mooncor. It is the intention of Augusta to distribute a portion of the Consideration Shares to its shareholders at a later date.

“I am pleased that Augusta has settled on the final form of the transaction,” said Allen Lone, Chief Executive Officer of Augusta. “The letter of intent with Mooncor will result in FOX-TEK becoming a wholly owned subsidiary of Mooncor, a publicly traded company whose securities are listed for trading through the facilities of the TSX Venture Exchange. This will give Augusta’s shareholders an interest in two separate standalone companies while allowing it to focus on its blockchain technology, which has the potential to unlock substantial new opportunities capable of impacting the business of Marcon.”

“Mooncor is excited about the prospect of acquiring FOX-TEK and its products and technology,” said Alan Myers, Chief Financial Officer of Mooncor. “The acquisition of FOX-TEK gives Mooncor a suite of leading edge technology and products in the oil and gas industry which will supplement Mooncor’s current business while adding a new revenue stream.”

The Acquisition

Shareholders of Augusta will be asked to approve the Acquisition at the special meeting of shareholders scheduled for July 12, 2018. The proposal to be presented to shareholders would result in the sale of FOX-TEK to Mooncor.

Mooncor will be calling a special meeting of its shareholders to approve, among other things, the Agreement and the consolidation of its issued and outstanding common shares on a the basis of up to twenty (20) common shares for each existing common share. It is anticipated that Mooncor will file an application with the TSX Venture Exchange to approve the issuance of the Consideration Shares to Augusta pursuant to the Agreement.

No finder’s fee is payable with respect to this transaction.

Related Party Transaction

The transaction between Augusta and Mooncor is a non arm’s length transaction as Allen Lone is a director and officer of both Augusta and Mooncor. Mr. Lone owns, directly and indirectly, 6,920,000 common shares (4.13%) in the capital of Mooncor and 76,754,264 common shares (29.97%) in the capital of Augusta. As such it is a related party transaction subject to Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”). Pursuant to MI 61-101, Augusta and Mooncor may be required to obtain disinterested shareholder approval and a valuation of FOX-TEK.

Augusta and Mooncor will be providing shareholders with additional updates.

About Augusta

Through its wholly owned subsidiaries, Marcon International Inc. (“Marcon”), FOX-TEK and Paragon Blockchain Inc. (“Paragon”), Augusta provides a variety of services and products to a number of clients.

Marcon is an industrial supply contractor servicing the energy sector and a number of US Government entities. Marcon’s principal business is the sale and distribution of industrial parts and equipment (Electrical, mechanical and Instrumentation.) In addition to departments and agencies of the U.S. Government, Marcon’s major clients include Saudi Arabia-Sabic Services (Refining and Petrochemical), Bahrain National Gas Co, Bahrain Petroleum, Qatar Petroleum, Qatar Gas, Qatar Petrochemical, Gulf of Suez Petroleum, Agiba Petroleum and Burullus Gas Co.

Fox Tek develops non-intrusive asset health monitoring sensor systems for the oil and gas market to help operators track the thinning of pipelines and refinery vessels due to corrosion/erosion, strain due to bending/buckling and process pressure and temperature. The Corporation’s FT fiber optic sensor and corrosion monitoring systems allow cost-effective, 24/7 remote monitoring capabilities to improve scheduled maintenance operations, avoid unnecessary shutdowns, and prevent accidents and leaks.

Blockchain technology has the potential to unlock substantial new opportunities capable of impacting the business of Marcon. Specifically, Marcon seeks to create an eco-system in the supply chain management of clients to change the dynamics of the scoping and bidding process by providing vendors and subcontractors with A.I. data mining tools to proactively drive the process. Blockchain technology is of critical importance to FOX-TEK as well particularly the expansion of its’ non-intrusive technology in the oil & gas industry, whose clients include many of the biggest companies in the world.

 

 

$AAO.ca Augusta Announces its Shareholders’ Meeting and Provides Sales Update

Posted by AGORACOM at 10:28 AM on Thursday, May 17th, 2018

https://s3.amazonaws.com/s3.agoracom.com/public/companies/logos/564614/hub/augustalarge.png

 

  • Marcon International Inc. sales orders of $612,000, with a backlog of $962,838.71
  • Shareholders’ meeting has been scheduled for July 11, 2018

Toronto, Ontario–(Newsfile Corp. – May 17, 2018) – Augusta Industries Inc. (TSXV: AAO) (the “Corporation”) is pleased to announce that it wholly owned subsidiary, Marcon International Inc. (“Marcon”), has entered into new agreements with various departments of the United States government for the supply of instrumentation and equipment. The aggregate value of the agreement entered into was $612,522.38. The current backlog of orders, including these new contracts, is $962,838.71 as of May 15, 2018.

“The Corporation is pleased to enter in these new contracts as it is a reflection of the continued efforts and hard work of the Corporation’s sales staff,” stated Allen Lone, President of the Corporation. “The Corporation’s sales efforts continues to result in increased sales and the Corporation will continue to focus on entering into additional contracts and developing additional relationships and opportunities with its existing clients.”

The Corporation also announces its shareholders’ meeting has been scheduled for July 11, 2018.

About the Corporation:

Through its wholly owned subsidiaries, Marcon, Fox-Tek Canada Inc. (“Fox-Tek”) and Paragon Blockchain Inc. (“Paragon”), the Corporation provides a variety of services and products to a number of clients.

Marcon is an industrial supply contractor servicing the energy sector and a number of US Government entities. Marcon’s principal business is the sale and distribution of industrial parts and equipment (Electrical, mechanical and Instrumentation.) In addition to departments and agencies of the U.S. Government, Marcon’s major clients include Saudi Arabia-Sabic Services (Refining and Petrochemical), Bahrain National Gas Co, Bahrain Petroleum, Qatar Petroleum, Qatar Gas, Qatar Petrochemical, Gulf of Suez Petroleum, Agiba Petroleum and Burullus Gas Co.

Fox Tek develops non-intrusive asset health monitoring sensor systems for the oil and gas market to help operators track the thinning of pipelines and refinery vessels due to corrosion/erosion, strain due to bending/buckling and process pressure and temperature. The Corporation’s FT fiber optic sensor and corrosion monitoring systems allow cost-effective, 24/7 remote monitoring capabilities to improve scheduled maintenance operations, avoid unnecessary shutdowns, and prevent accidents and leaks.

Blockchain technology has the potential to unlock substantial new opportunities capable of impacting the business of Marcon. Specifically, Marcon seeks to create an eco-system in the supply chain management of clients to change the dynamics of the scoping and bidding process by providing vendors and subcontractors with A.I. data mining tools to proactively drive the process. Blockchain technology is of critical importance to FOX-TEK as well particularly the expansion of its’ non-intrusive technology in the oil & gas industry, whose clients include many of the biggest companies in the world.

Corporation contact:

Allen Lone, President, CEO, Augusta Industries Inc.
Tel: (905) 275-8111 Ext 226, 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.

$AAO.ca Augusta Subsidiary FOX-TEK Receives First Order for its Leak Detection #ENB.ca #PBL.ca

Posted by AGORACOM at 10:10 AM on Tuesday, April 3rd, 2018

 

  • FOX-TEK’s first order for novel leak detection system for Alberta engineering firm
  • Intention is to increase market share in smart sensing technology sector
  • Third party testing demonstrated clear advantages over current available technologies

Toronto, Ontario–(Newsfile Corp. – April 3, 2018) – Augusta Industries Inc. (TSXV: AAO) (the “Corporation”), a developer and marketer of patented non-intrusive sensing systems, is pleased to announce that its wholly owned subsidiary, FOX-TEK Canada Inc. (“FOX-TEK”), has received its first order for its novel leak detection system from an Alberta based engineering firm.

In its desire to increase its market share in the smart sensing technology sector, FOX-TEK has developed a novel leak detection system specifically designed for the oil and gas sector. In third party testing, this leak detection technology showed clear advantages over current available technologies. The leak detection system, which is able to sense a thin film of hydrocarbon contaminants on top of water, has been very well received by a number of the Corporation’s clients. The end-user, which is one of North America’s largest pipeline companies, decided to acquire the leak detection system based on its performance in the testing and the low cost of the technology as compared to other currently available technologies.

“The development and acceptance of the leak detection system is another milestone in FOX-TEK becoming a leader in the smart sensing technology field,” said Allen Lone, the President of the Corporation. “The Corporation is encouraged by the successful testing of the leak detection system and is encouraged by the initial order for this system. The Corporation will continue to develop new technologies to address the needs of our clients.”

The Corporation would also like to provide an update on the proposed spin-off of FOX-TEK. The Corporation has received several unsolicited offers from arm’s length third parties pertaining to the purchase of all of the issued and outstanding securities in the capital of FOX-TEK. As such, the Corporation has decided to suspend the proposed spin-off as that it may evaluate these offers. The Corporation continues to work with its financial and legal advisers to ascertain the best course of action for both the Corporation and its shareholders. The Corporation will continue to provide updates as they become available.

About the Corporation

Through its wholly owned subsidiaries, Marcon International Inc. (“Marcon”) and FOX-TEK, the Corporation provides a variety of services and products to a number of clients.

Marcon is an industrial supply contractor servicing the energy sector and a number of US Government entities. Marcon’s principal business is the sale and distribution of industrial parts and equipment.

FOX-TEK provides world leading solutions to various sectors including the oil and gas industry. With non-intrusive technologies including fiber-optic sensors and electric field mapping systems, FOX-TEK is able to accurately measure changes that could negatively impact our client’s operations.

Corporation contact:

Allen Lone, President and C.E.O.
Tel: 905.275.8111, Ext. 226
Email: [email protected]

FEATURE: $AAO.ca Why Augusta Industries is an under valued company

Posted by AGORACOM at 1:43 PM on Thursday, March 15th, 2018

 

 

Augusta Industries Subsidiary FOX-TEK Canada Inc is a rare Gem of a tech company where its technology, potential and capabilities are undervalued and therefore discounted. Investors don’t seem to appreciate that FOX TEK is making great strides with its available resources while developing industry disruptive technology capable of meeting current value expectations. The patient investor understands and values a company that is creating new and disruptive technological tools

Sales and revenue evaluation of a company is great when you are invested in GE, FORD, GM, IBM and Apple, but the real value missed here by a few shareholders is what FOX-TEK’s engineers are able to create. FOX TEK first started with the FT Systems as its sole technology and below is living proof of what FOX-TEK has been able to create.

1) Electric Field Mapping (EFM) Corrosion monitor

Used predominately to measure, with great accuracy, the material loss in pipelines and vessels due to corrosion/erosion. The technology has been successfully used as a validation of existing integrity programs. The technology can also be used in research and material testing applications.

2) Fiber Bragg Grating (FBG) System

Technology based on optical strain sensors. These sensors are inherently safe (due to the fact that the sensors are powered by light) and easy to use. Due to the high bandwidth of the sensors, they can also be used to measure vibrations. There many applications in both the oil & gas sector and civil infrastructure where these sensors can bring a benefit.

3) FG-OD

Novel non intrusive leak detection technology used to detect leaks in pipelines and vessels. Due to its high sensitivity, the sensor cable can also detect VOC due to leaks.  By using smart detection levels and adapting to its environment, this technology will generate zero false alarms.

4) Advanced Sensor Design

Advanced intrusive optical sensor that will, over time, change its optical characteristics when in the presence of various elements. Can be used in applications where specific trace elements can lead to a negative impact on normal operating conditions.

5) Currently as per FOX-TEK’s last Press release, working to develop a new technology to measure the ingress of damaging liquids under insulation/coating. This LOI is indicative of the confidence major parties involved have in the burgeoning technology, be it Federal, Provincial Academic or Business.

http://www.fox-tek.com/home.php

 

FEATURE: $AAO.ca Xylem’s Premium Takeover of Pure a Benefit to AAO Investors

Posted by AGORACOM at 3:17 PM on Monday, December 18th, 2017

 

Companies that develop patented technologies for inspection, monitoring and management of critical infrastructure are being acquired to meet growth demands of larger corporations.

  • Pure has received a 102% premium to market
  • Xylem quick to recognize growth potential and present value of Pure technology & assets
  • Augusta is a peer of Pure and provides similar infrastructure services in Oil Industry

Pure Technologies to be acquired by Xylem

Pure’s business model incorporates four distinct business streams coincident with Augusta

  • Premium technical services including pipeline inspection, leak detection and condition assessment
  • Specialized engineering services in areas related to asset management, primarily in the area of pipeline condition assessment
  • Sales of proprietary monitoring technologies for pipelines
  • Recurring revenue from data analysis, site maintenance, and from technology licensing.

Augusta Industries

FOX-TEK – Focused on the oil & gas sector with non- intrusive pipeline technology ( fiber optic sensors ) that accurately measure changes that could negatively impact clients’ operations.

3 Technologies Integral to Fox-Tek Operations:

  • EFM for Corrosion Monitoring
  • FBG for Cracking Stress Monitoring
  • Leak Detection Monitoring

Marcon International – an industrial supply contractor servicing the energy sector and a number of US Government entities, clients that include government departments and global energy companies

  • US DHS
  • US DOE
  • US Air Force / Navy
  • NASA
  • Qatari Gas

AUGUSTA 2017 HIGHLIGHTS:

  • Augusta revenues for 2016 / $4.6M
  • Augusta market cap is 6.4$ as of December 14th, 2017
  • The proposed Spin-Off of FOX-TEK is expected to return up to $25,000,000 of stock to existing shareholders of Augusta.
  • Though terms of the Spin-Off are yet to be finalized, the proposed $2.5:$1 benefit to shareholders is now one step closer with the announcement of the Lock-Up Agreement & NCIB

 

For more information about Augusta:  watch this interview with Allen Lone on AGORACOM.

$AAO.ca Augusta Announces Results for the Third Quarter and Corporate Update $PHO.ca

Posted by AGORACOM at 9:17 AM on Thursday, November 30th, 2017

 

  • Revenue of $650,000 as compared to $1,479,000 during the three months ending September 30, 2016
  • Marcon group backlog sales as on the date of the MD&A is $1,988,000
  • Gross margins were 21% compared to 13% for the three months ending September 30, 2016

Toronto, Ontario–(Newsfile Corp. – November 30, 2017) – Augusta Industries Inc. (TSXV: AAO) (the “Corporation”) is pleased to announce that it has released its financial results for the nine months ending September 30, 2017.

For the three months ending September 30, 2017, the Corporation had revenues of $650,000 as compared to $1,479,000 during the three months ending September 30, 2016. Marcon group backlog sales as on the date of the MD&A is $1,988,000. Four of the backlog orders worth $1,723,000 have a long delivery lead time. The Corporation also expects to build on the two contracts signed in 2017 by FOX-TEK worth $1,039,000 over a three year period.

Total loss from operations for the three months ending September 30, 2017 was $160,000 or a net loss of $0.001 per share compared to a loss of $74,000 or $0.000 per share for the three months ending September 30, 2016. Gross margins for the three months ending September 30, 2017 was 21% compared to 13% for the three months ending September 30, 2016 due to the change in mix between Macron and FOX-TEK sales during the period . The operating expenses in the three months ending September 30, 2017 was slightly less at $251,000 compared to $255,000 for the same period in 2016. Stock based compensation during the three months ending September 30, 2017 was $47,000 while there were no such expenses during the three months ending September 30, 2016.

Marcon group sales in the three months ending September 30, 2017 was $564,000 compared to $1,394,000 in the three months ending September 30, 2016 – a decrease of $830,000. The sales in FOX-TEK for the three months ending September 30, 2017 were $86,000 close to $85,000 sales for the three months ending September 30, 2016.


 

The financial statements, notes to the financial statements and Management’s Discussion and Analysis for the nine months ending September 30, 2017 are available on SEDAR at www.sedar.com.

Corporate Update – Business Development

Please see section on Business Development (Page 5 ) in the MD&A for the nine months ended September 30, 2017 for details.

About the Corporation:

Through its wholly owned subsidiaries, Marcon International Inc. (“Marcon”) and Fox-Tek Canada Inc. (“Fox-Tek”), the Corporation provides a variety of services and products to a number of clients.

Marcon is an industrial supply contractor servicing the energy sector and a number of US Government entities. Marcon’s principal business is the sale and distribution of industrial parts and equipment (Electrical, mechanical and Instrumentation.) In addition to departments and agencies of the U.S. Government, Marcon’s major clients include Saudi Arabia-Sabic Services (Refining and Petrochemical), Bahrain National Gas Co, Bahrain Petroleum, Qatar Petroleum, Qatar Gas, Qatar Petrochemical, Gulf of Suez Petroleum, Agiba Petroleum and Burullus Gas Co.

Fox Tek develops non-intrusive asset health monitoring sensor systems for the oil and gas market to help operators track the thinning of pipelines and refinery vessels due to corrosion/erosion, strain due to bending/buckling and process pressure and temperature. The Corporation’s FT fiber optic sensor and corrosion monitoring systems allow cost-effective, 24/7 remote monitoring capabilities to improve scheduled maintenance operations, avoid unnecessary shutdowns, and prevent accidents and leaks.

Corporation contact:

Allen Lone, President, CEO, Augusta Industries Inc.
Tel: (905) 275 -8111 Ext 226 email: [email protected]

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and as neither approved nor disapproved the contents of this press release.

$AAO.ca Augusta Industries Through Its Sub FOX-TEK Receives a Contract for an Application in the Nuclear Space

Posted by AGORACOM at 12:36 PM on Monday, November 27th, 2017

 

  • FOX-TEK Canada Inc. received a contract for phase one ( proof-of-concept application) in the Nuclear Space
  • Will demonstrate technological ability to measure minute changes in pressure in a test pipe.
  • “Contract represents a first big step toward serving a new market and an exciting space for the Corporation.”

Toronto, Ontario–(November 27, 2017) – Augusta Industries Inc. (TSXV: AAO) (the “Corporation”), a developer and marketer of patented non-intrusive sensing systems, is pleased to announce that its wholly-owned subsidiary, FOX-TEK Canada Inc. (“Fox-Tek”), received a contract for phase one (a proof-of-concept application) in the Nuclear Space. For this application FOX-TEK will look at the use of its high precision Fiber Bragg Grating (FBG) acquisition equipment to measure very small changes in strain in injector ports.

If successful, the technology will be incorporated within the end users injection control system to verify (in real time) that the injection ports are not clogged. This will be part of a safety program due to the material being transported to the injectors. A failure of the injectors could lead to a hazardous situation.

The proof-of-concept will demonstrate that the technology will be able to measure minute changes in pressure in a test pipe. A number of FBG sensors will be mounted on the test spool for validation of the technology.

“This is an example of the Corporation’s strategy to expand our bandwidth and offering New technologies and concepts. We pursuing markets untapped in the past with new concepts and applications in the Industrial Nuclear arena,” commented Allen Lone, President and CEO of the Corporation. “This contract represent a first big step toward serving a new market and an exciting space for the Corporation.”

About the Corporation

Through its wholly owned subsidiaries, Marcon International Inc. (“Marcon”) and Fox-Tek Canada Inc. (“Fox-Tek”), the Company provides a variety of services and products to a number of clients.

Marcon is an industrial supply contractor servicing the energy sector and a number of US Government entities. Marcon’s principal business is the sale and distribution of industrial parts and equipment.

Fox-Tek provides world leading solutions to various sectors including the oil and gas industry. With non-intrusive technologies including fiber-optic sensors and electric field mapping systems, Fox-Tek is able to accurately measure changes that could negatively impact our client’s operations.

Corporation Contact:

Allen Lone, President, CEO, Augusta Industries Inc.
Tel: (905) 275 8111 Ext 226, email: [email protected]

AUGUSTA INDUSTRIES $AAO.ca Normal Course Issuer Bid (NCIB) A Winning Move After Lock-Up Agreement $PHO.ca $DYA.ca $OPS.ca

Posted by AGORACOM at 12:57 PM on Wednesday, November 22nd, 2017

Following the November 9th announcement of a Lock-Up Agreement for 32% of the company’s shares, Augusta has surprised the market announcing a NCIB whereas up to 17,340,061 common shares representing up to 10% of the Company’s public float will be purchased through an Agent and subsequently cancelled. Once again AAO is demonstrating its commitment to create shareholder value through the process of reducing the available shares on the open market.

Allen Lone, President and CEO of Augusta stated:

“The Company believes that the purchase of the Shares will increase the proportionate interest of, and be advantageous to, all remaining security holders.”

Not only is this excellent news for existing shareholders, it could potentially lead a surge in price if recent examples of NCIB’s in the market are any indicator; especially considering the following are peers of AAO.v:

Spartan Energy (TSX SPE)

Announced NCIB buy back August 22nd when price was $5.11. It went as high as $7.37.                                         Spartan’s NCIB buy back was based on 5% of 175m outstanding or 8.7 million shares

 

 

Genworth MI Canada Inc  (TSX MIC)

Announced their NCIB buy back May 2nd when price was $34.45. Genworth went as high
as $44.81. Their NCIB buy back was based on 5% of 90.9m outstanding, equivalent to 4.59 million shares

 

 

Augusta Announces Normal Course Issuer Bid

Augusta Industries November 14th NCIB announcement for up to 17,340,061 common shares separates itself from its peers.  Not only is Augusta consuming for closure another 10% of the Company’s public float, it is sending a clear message to its current and prospective shareholders; the company is preparing itself for the market to take notice.  Augusta is removing more shares on a percentage basis at 10% than the 5% & 5% that  Spartan & Genworth each removed through their respective NCIB.

The AGM is December 29th

For more information about Augusta and the proposed Spin-Off, watch this interview with Allen Lone on AGORACOM.

AUGUSTA INDUSTRIES (AAO:TSXV) LOCK-UP AGREEMENT IS A WINNING STRATEGY $PHO.ca $DYA.ca $OPS.ca

Posted by AGORACOM at 9:20 PM on Thursday, November 9th, 2017

AUGUSTA INDUSTRIES (AAO:TSXV) LOCK-UP AGREEMENT IS A WINNING STRATEGY

On September 29, 2016, Major Shareholders and Directors of dynaCERT announced a Lock-Up of more than 55,000,000 shares for 180 days, representing ~ 23% of the Company’s shares.  The purpose of the Lock-Up was stated as follows:

“Given the significant progress that has been achieved in recent months, we felt a Voluntary Lock-Up Agreement would demonstrate to shareholders and potential investors the commitment and confidence that management, directors and certain major shareholders have in the future of dynaCERT.”

The Company proceeded to make significant progress and its stock achieved the following performance over the next 12 months.

 

 

Augusta Industries Announces Lock-Up Agreement

On November 9th, Augusta Industries announced a Lock-Up Agreement for Directors and Officers holding 83.4 Million shares, representing 32% of the Company’s outstanding share amount.  One major term of the Agreement is the agreement to vote the shares in support of the Augusta Spin-Off of Fox-Tek Canada Inc.

Allen Lone, President and CEO of Augusta stated:

“The company continues to work with its advisers to ensure the success of the proposed spinoff of Fox-Tek and to ensure that it is done it a manner that is beneficial to its shareholders”

In both scenarios, management and major shareholders agreed to act in unison for the long-term benefit of each respective company and its shareholders.  Though a Lock-Up on it’s own does not create the kind of share price appreciation experienced by dynaCERT, both the underlying fundamental strengths and the shareholder unison can’t be denied as harbingers of a bright future.

HIGHLIGHTS:

  • Augusta revenues for 2016 / $4.6M
  • Augusta market cap is ~ $10,000,000 as of November 9, 2017
  • The proposed Spin-Off of FOX-TEK is expected to return up to $25,000,000 of stock to existing shareholders of Augusta.
  • Though terms of the Spin-Off are yet to be finalized, the proposed $2.5:$1 benefit to shareholders is now one step closer with the announcement of the Lock-Up Agreement.

For more information about Augusta and the proposed Spin-Off, watch this interview with Allen Lone on AGORACOM.