4D pharma PLC (LON:DDDD) is to get a cash injection of US$14.6mln through a merger with Longevity Acquisition Corporation (NASDAQ:LOAC), a special purpose acquisition company. Longevity will receive American depositary shares, to be listed on the NASADAQ exchange, representing 4D ordinary shares, on terms that assume a value of 110p per 4D share. 4D shares closed at 93.2p on Wednesday. Longevity shareholders will end up owning around 13.1% of the merged company’s equity, with 4D shareholders owning the rest.
Futura Medical PLC (LON:FUM) shares shot higher after it said it had made regulatory progress in the US and was garnering significant commercial interest for its erectile dysfunction (ED) gel. In an update, investors were told discussions were taking place with a “growing number” of potential partners interested in helping Futura exploit the commercial potential of MED3000 as an over-the-counter treatment. It said priority has been given to “certain negotiations for one specific region where discussions have advanced with parties for the exclusive marketing rights for MED3000”.
IXICO PLC (LON:IXI), the data analytics company delivering insights in neuroscience, announced that it has secured new contracts in Huntington’s disease clinical trials. The contracts include retrospective analysis of data sets for three Natural History Studies in Huntington’s disease with a new large pharma customer and a multicentre, open-label Phase II study in Huntington’s disease with an existing large pharma customer.
OPG Ventures PLC (LON:OPG), the developer and operator of power generation assets in India, has reported a 9.5% rise in revenue in its final results for the year ended March 31, 2020. The AIM-listed firm posted full-year revenue of £154.0mln, up from £140.6 million in 2019 as total generation (including deemed) rose to 2.72 billion units from 2.71 billion units a year earlier. OPG saw its gross borrowings at the year-end reduced to £56.8mln, compared to £80.4mln as at March 31, 2019.
Alien Metals Ltd (LON:UFO) has agreed on terms of a farm-out deal with Capstone Mining Corp (TSX:CS) for its Donovan 2 copper-gold project in Mexico. Capstone started due diligence last month as part of an exclusivity agreement and has now firmed that up into a full earn-out deal that could give it an 80% stake in the project through funding it to a pre-feasibility study. In the first stage, Capstone will take a 65% stake through a cash payment of US$290,000 to Alien over three years plus US$3.6mln of exploration expenditure.
[email protected] Capital (LON:SYME) has signed a strategic agreement with Anthony Brown and The Trade Advisory to launch its inventory monetisation platform in the US. The Trade Advisory specialises in facilitating US international trade and finance. Anthony Brown, founder and CEO of The Trade Advisory, has more than thirty years of international supply chain finance experience as a trader, lender, shipper, supply chain and business executive, [email protected] said, adding that he pioneered Purchase Order Financing in the US and headed International Factoring for GMAC Commercial Finance (now Ally Financial).
genedrive PLC (LON:GDR) said it is now generating “very promising data” from its coronavirus (COVID-19) test, targeted for release in the first quarter of next year, having recently completed the assay design. Using the point-of-care technology, results can be generated in 15 minutes for a positive sample, while a negative takes five minutes longer. The kit has been developed to detect SARS-CoV-2 amplified directly from saliva without the need to extract viral RNA.
Gaming Realms PLC (LON:GMR), which develops and licenses mobile devices-focused gaming content, has launched its Slingo Originals content with Paddy Power Betfair. Part of Flutter Entertainment PLC (LON:FLTR), Paddy Power Betfair is featuring Gaming Realms’ Slingo Originals content on its Paddy Power Bingo and Betfair Casino site, with Paddy Power Games and Betfair Bingo to follow shortly. Gaming Realms’ Slingo portfolio will be distributed through the company’s aggregation partner, Relax Gaming.
Zephyr Energy PLC (LON:ZPHR) is counting down to spudding of the US government-funded State 16-2 well in Utah, with the programme slated to start before the end of 2020. The company is working with a project team led by University of Utah’s Energy & Geoscience Institute (EGI), as previously announced, and, the project is sponsored by the US Department of Energy (DOE) and its National Energy Technology Laboratory. It means that the first US$2mln of well spending is funded via a DOE grant, and up to US$1mln of incremental funding will be covered by Zephyr – using funds raised in its recent oversubscribed placing.
Crossword Cybersecurity PLC (LON:CCS) has been accepted onto the UK Government G-Cloud framework version 12 in the ‘cloud software’ and ‘cloud support’ categories. The framework enables public sector organisations to procure Crossword’s Rizikon Assurance and Consulting cyber-risk management tools via the digital marketplace run by Crown Commercial Services.
Premier African Minerals Ltd (LON:PREM) revealed it is debt-free and “well-funded for the immediate future” as it has settled all outstanding amounts owing to directors, employees and other creditors. A day after raising £1.1mln through a placing, the company said it has issued £600,057 worth of new shares to repay accrued but unpaid contractual amounts and outstanding loans.
Pembridge Resources PLC (LON:PERE) said a higher copper price gave a boost to its Minto mine in Canada in the three months to end September 2020. The mine was also helped by access to additional funding under the US$12.5mln prepayment facility with Sumitomo, said Gati Al-Jebouri, Pembridge’s chief executive and chairman. Payments of US$18.4mln were received by Minto from Sumitomo (Q2: US$9.8mln) during the period.
Power Metal Resources PLC (LON:POW) has signed up drill contractor for a 500-metre diamond core programme for the Victoria vein at the Silver Peak project, in British Columbia, Canada. The programme will be delivered by an experienced Canadian drilling company. It is expected that the contractor will mobilise within the next few days with a view to starting drilling next week.
Metal Tiger PLC (LON:MTR) told investors it has extended the deadline for closing its transaction with partner and associate Cobre for the Kalahari Metals venture. Presently, Metal Tiger owns a 62.17% interest in Kalahari Metals Limited (KML) and owns an 18.79% shareholding in Cobre. Cobre is set to acquire 51% of KML and the deadline for the transactions has been moved to December 20, 2020, to allow for the completion of due diligence.
Vast Resources PLC (LON:VAST) has confirmed that the flotation plant at its at Baita Plai mine in Romania is now fully operational and producing concentrate. The AIM-listed company also said that it is on track to surpass its initial copper sales delivery target included in the project production and associated operational cashflow forecasts announced on September 7, 2020, and expects to complete the initial production of copper concentrate by the end of October 2020.
88 Energy Limited (LON:88E) has highlighted its progress in the past quarter, with the recently enlarged Alaska explorer now steering towards two new farm-outs – both, designed to secure new drill catalysts for 2021 and beyond. 88 Energy completed its merger with XCD Energy this summer to acquire the Project Peregrine where, as announced last month, new seismic data analysis boosted prospects. At the same time, the company has retaken control of the ‘Area A’ portion of Project Icewine and recently expanded its stakeholding to 75%.
Tower Resources PLC’s (LON:TRP) chief executive Jeremy Asher presented at the virtual Africa Upstream, LNG and Gas Summit on Thursday. A copy of his presentation will be added to the company’s website – https://www.towerresources.co.uk.
Solo Oil has relaunched under its new name Scirocco Energy PLC (LON:SCIR) with the shares now trading under the ticker symbol SCIR. The company said it will give a relaunch webcast on November 2, 2020, as its new website goes live.
Walls & Futures REIT PLC (LON:WAFR), the ethical housing investor and developer, has announced that at its annual general meeting held on Wednesday, all resolutions were duly passed.
Scancell Holdings PLC (LON:SCLP), the developer of novel immunotherapies for the treatment of cancer and infectious disease, has said its annual general meeting (AGM) will take place on Tuesday, November 17, 2020, at 2.00pm GMT. The company said it continues to monitor the coronavirus (COVID-19) situation closely, including UK Government legislation and guidance, and will continue to do so in the lead up to the AGM. In line with the current UK Government advice, the group’s board has taken the decision that shareholders, advisers and other guests will not be allowed to attend the AGM in person and anyone seeking to attend the AGM will not be permitted entry. In light of these measures, the board strongly encourages shareholders to vote by proxy in accordance with the instructions in the Notice of AGM.
Published at Thu, 22 Oct 2020 14:30:00 +0000-Proactive news headlines: 4D pharma, Futura Medical, IXICO, OPG Ventures, Alien Metals …