G Mining Ventures Corp (TSX-V:GMIN, OTCQX:GMINF) announced that it has closed a US$116 million financing package to support development and construction at its Tocantinzinho gold project in Brazil. Under the first and second tranche, Quebec-based G Mining issued an aggregate of 189,066,765 shares at C$0.80 per share for gross proceeds of US$116.3 million (C$151.3 million). In the second tranche, G Mining issued just over 29 million shares at a price of C$0.80 per share to La Mancha Investments S.à r.l. for gross proceeds of US$17.8 million (C$23.2 million).
Magna Mining Inc (TSX-V:NICU) announced that its common shares will resume trading on Thursday, September 8, 2022. The trading halt was imposed by the TSX-V, in connection with the company’s announcement that it had signed a definitive share agreement to acquire 100% of Lonmin Canada Inc, including the Denison project and the past producing Crean Hill nickel-copper-platinum group elements (PGE) mine. The acquisition remains subject to, among other things, approval by the TSX-V, including the satisfaction of any customary conditions imposed by the TSX-V.
Xeris Chairman and CEO Paul Edick will engage in a fireside chat at the HC Wainwright Conference on September 12 at 4:30 pm ET. Investors may register for the event at https://ir.xerispharma.com/events/event-details/xeris-biopharma-presentation-hc-wainwright-24th-annual-global-investment Xeris is a growth-oriented biopharmaceutical company committed to improving patient lives by developing and commercializing innovative products across a range of therapies. It has three commercially available products: Gvoke, a ready-to-use liquid glucagon for the treatment of severe hypoglycemia; Keveyis, the first and only FDA-approved therapy for primary periodic paralysis; and Recorlev for the treatment of endogenous Cushing’s syndrome.
Marble Financial Inc has provided an update on its binding letter of intent to acquire eBunch Data and Development Limited, a Canadian digital marketing firm specializing in generating more qualified leads per dollar spent by retailers. Marble said that on completing the technical, operational and financial due diligence of eBunch Data and Development, both firms have agreed to revised commercial terms relating to the sale of certain assets comprising the vendor’s business to Marble. According to the company, Marble’s wholly owned subsidiary Accumulate.AI Software Limited will acquire certain technology assets relating to eBunch Data’s inventory management system for auto dealerships and related assets following an Asset Purchase Definitive Agreement for up to C$550,000.
Altamira Gold Corp announced that it has received assay results from the first two diamond drill holes completed at the previously-untested Maria Bonita target, which forms part of its Cajueiro project in Brazil. The gold projects explorer and developer said the first two diamond drill holes returned 50 metres (m) of 1 gram per tonne (g/t) gold and 55m of 1 g/t gold, respectively. “The intense quartz stockwork veining observed in the first two holes is unlike any other style of mineralization thus far encountered in the Cajueiro area,” Altamira Gold CEO Mike Bennett said in a statement.
Sidus Space Inc (NASDAQ:SIDU) announced that it has signed a launch agreement with space technology company SpaceX for five launches of its LizzieSat satellite beginning in early 2023. Sidus has designed and is manufacturing LizzieSat, which is in the advanced stages of development and offers many differentiating attributes. According to the company, LizzieSat satellites fly custom payloads tailored to maximize return on investment; Sidus manufactured 3D printed satellites maximize customer volume within a lightweight bus; redundant attitude controls systems provide precision pointing for payloads; and propulsion maintains satellite orbit and provides collision avoidance capability.
Reunion Gold Corporation (TSX-V:RGD, OTCQB:RGDFF) told investors that it would accelerate drilling at its Oko West project in Guyana later this year given the success of recent work. Latest drill assays continue to show a strong level of gold mineralization continuity at the Oko Wests Kairuni zone in terms of widths, grades and geology, the company said in a statement. “We continue to be very pleased with the results we are receiving from the Kairuni zone, which show excellent continuity of the gold mineralization down to a vertical depth of approximately 250 metres (m), where more detailed drilling has occurred,” said Carlos Bertoni, the interim CEO. Also in the statement, Reunion noted that the Guyana Geology and Mines Commission has approved a prospecting license for the Oko West project and that it and Bosai Minerals have recently agreed to settle an additional consideration for one lump-sum payment of US$2.35 million (now received) as part of the sale, in 2017, of the Matthews Ridge manganese asset.
CleanSpark Inc (NASDAQ:CLSK) said it has entered into a purchase agreement with Cryptech Solutions for 10,000 new Bitmain Antminer S19j Pro units for a total price of $28 million, and expects to take delivery of the servers by late October or early November. CleanSpark said its sustainable growth strategy, coupled with the current cryptocurrency market conditions, enabled it to purchase the machines at a substantially discounted price compared to the spot market price earlier this year. Bitmain, the manufacturer and seller of the devices, sold the S19j Pro model on its website in January for as much as $116 per terahashes per second (TH/s). CleanSpark said it purchased 10,000 units for approximately $28.00 per TH/s.
MGX Minerals Inc has completed geophysical exploration at its wholly owned GC lithium pegmatite claims in British Columbia, the company announced. The company conducted geological mapping and geochemical sampling of the GC (and Grail) pegmatite, and seven rock chip samples of mineralized pegmatite have been sent for ME-MS89L analysis. Management intends to develop and extend known limits of pegmatite-hosted rare metal-bearing mineralization, the company said.
Murchison Minerals Ltd (TSX-V:MUR, OTCQB:MURMF, TSX-V:MUR.V) has announced results, analysed using a portable x-ray fluorescence (pXRF), from the first diamond drill hole at the Barre de Fer (BDF) zone, as part of the 2022 summer exploration program, on its 100%-owned Haut-Plateau de la Manicouagan (HPM) project in Quebec, which included 11.5 metres (m) of 2.13% nickel, 0.64% copper, and 0.10% cobalt. The Canada-based exploration company said the preliminary results indicate the successful delineation of mineralization within the modeled zone of mineralization, as well as confirming extensive expansion beyond the current model.
Majuba Hill Copper Corp (CSE:JUBA) reported impressive copper equivalent (CuEq) values from the drilling completed at its flagship Majuba Hill porphyry copper, silver, and gold project, 156 miles outside Reno, Nevada. The Vancouver-based company explained that the CuEq was calculated by combining copper, silver, gold, molybdenum, lead, and zinc assay values for significant intervals that were initially determined from copper assays. The company said the copper equivalent values and the thick mineralized CuEq intervals support the previous drilling, geophysics, and geology suggesting that Majuba has a very large tonnage potential that could be mined by open pit methods. CuEq values increased the drill interval results by an average of 40% when compared to the copper-only values and make these thick intervals very significant, noted the company.
Arrow Exploration Corp (TSX-V:AXL, AIM:AXL, OTC:CSTPF) has announced better than expected results from testing at the East Pepper well on the Pepper Block in the Alberta basin, Canada. The production test for the Montney zone was run over a 27.8-hour period and natural gas production tested at a peak rate of 21,206 million cubic foot per day (mcf/d) – 3,534 barrels of oil equivalent per day (boe/d) – a stabilized rate of 9,220 mcf/d – 1,537 boe/d – and an average rate of 10,921 mcf/d – 1,820 boe/d, the company said. Condensate produced over the test period was 24.27 barrels and the well had an average wellhead pressure of 3,276 psi over the test period, it added, cautioning that test results are not necessarily indicative of long-term performance or ultimate recovery. The 100% working interest East Pepper well (100/14-21-052-22W5/3) was tested before tie-in activities began on August 30, 2022.
NorthWest Copper Corp (TSX-V:NWST) said it has completed the third and final issuance of consideration shares to POSCO International Corporation under the previously announced agreement whereby it agreed to purchase POSCO’s approximately 31% interest in Kwanika Copper Corporation (KCC) for total consideration of C$11 million in shares. KCC is a British Columbia corporation which owns 100% of the Kwanika project. Following the completion of the issuance of all consideration shares, KCC has become a wholly-owned subsidiary of the company, and NorthWest now owns a 100% interest in the Kwanika project. As part of the Tranche 1 closing in February 2022, the shareholder joint venture agreement as among the parties was terminated and any interest or rights of POSCO with respect to Kwanika project under the shareholder joint venture agreement, including offtake rights, was terminated. As part of the Tranche 3 closing, NorthWest issued 7,228,916 consideration shares to POSCO. All consideration shares issued will be subject to a hold period expiring four months and one day from the date of issue. The Tranche 3 consideration shares hold period expires on January 7, 2023. POSCO has agreed to several resale restrictions in respect of the consideration shares including a minimum 30-day notice period prior to sales of any kind and a monthly limit on any sales on public exchanges.
Endexx Corp, a provider of…
Read More:G Mining Ventures Corp, Magna Mining Inc, Xeris Biopharma Inc, Marble Financial Inc, Altamira Gold Corp, Sidus Space
2022-09-07 20:58:01
