Power Nickel Inc (TSX-V:PNPN) said it has completed the second tranche of its previously-announced C$5 million private placement, raising C$2,585,000 by issuing 5.17 million company flow-through (FT) units at a price of $0.50 per FT unit.
The junior explorer noted that it intends to use the gross proceeds from the FT offering for exploration activities on its NISK property in Quebec and to incur eligible Canadian exploration expenses that will qualify for the federal 30% Critical Mineral Exploration Tax Credit.
Montero Mining and Exploration Ltd (TSX-V:MON) revealed new developments related to its arbitration proceedings against the government of Tanzania for its Wigu Hill rare earths project.
The Canadian resource junior has hired renowned arbitration lawyer Timothy Foden of Boies Schiller Flexner (UK) LLP to act as co-counsel alongside Jeantet AARPI.
Arizona Silver has kicked off a drill program at its Philadelphia gold-silver project in Mohave County, Arizona, which is testing the western edge of the recently identified Red Hill CSAMT geophysical anomaly at the property.
“We look forward to testing the down dip extension of the HW Vein below the last drill intercept in hole PC22-91, the interpreted feeder zone to the Red Hill CSAMT anomaly and the western edge of the anomaly itself with two core holes,” Arizona Silver VP-Exploration Greg Hahn said in a statement.
Nextech3D.AI (CSE:NTAR, OTCQX:NEXCF) said it has received conditional approval from the Canadian Securities Exchange (CSE) for the listing of its standalone web application, Toggle3D.AI.
The new CSE trading symbol for the company is TGGL, and trading is expected to commence in the first half of June 2023.
Iofina PLC (AIM:IOF, OTC:IOFNF) said it has cut debt to below US$1mln and its newest iodine extraction plant is on track to be up and running by the end of the quarter as it reported strong profit growth and cash flow for the past year.
The iodine and speciality chemical producer posted results showing underlying earnings (EBITDA) up 65% to US$11.5mln in the calendar year, well ahead of guidance it gave two months ago.
OKYO Pharma Ltd (LSE:OKYO, NASDAQ:OKYO), an ophthalmology-focused biotech, said has activated its first clinical trial site in the US for a phase II trial evaluating the efficacy and safety of its dry eye disease treatment, OK-101.
This multi-centre, randomised, double-blinded and placebo-controlled study is expected to accept its first patient within two weeks.
Vyant Bio Inc has announced that its board of directors determined on April 24, 2023, that it is appropriate to voluntarily delist its securities from The Nasdaq Capital Market. The company has initiated the delisting which is expected to become effective on or about May 14, 2023. Following the delisting rom Nasdaq, the company intends to file a Form 15 with the SEC to suspend its reporting obligations. The company said its board made the decision to pursue this strategy following its review and careful consideration of a number of factors, including, but not limited to, the expected reduction in operating expenses by eliminating SEC reporting costs, which would allow the company to focus more resources on its continued pursuit and exploration of satisfactory strategic alternative transactions and/or execution of an orderly wind down of the company, if necessary. The company believes that the delisting is one more step consistent with its Cash Preservation Plan. The company will continue to evaluate further steps to preserve cash under that plan. Following delisting of its common stock from Nasdaq, the company anticipates that the common stock will be quoted on the Pink Open Market operated by OTC Markets Group Inc under the symbol VYNT starting on or about May 15, 2023.
Majuba Hill Copper Corp said it has arranged a non-brokered private placement to raise gross proceeds of $1.5 million. The placement will consist of 10 million units at 15 cents per unit, with each unit comprising one common share in the capital of the company and one share purchase warrant, whereby each warrant shall be convertible into an additional share at an exercise price of 40 cents for a period of 12 months from the date of issuance. The company will have the right to seek an accelerated exercise of the warrants if the price of the shares trades in excess of 60 cents for five consecutive trading days. All securities to be issued will be subject to a four-month hold period from the date of issuance.
Century Lithium Corp said it has granted an aggregate 1,318,000 incentive stock options to officers, consultants and management company employees of the company. The options vest over a three-year term, are exercisable at $1.03 per share, being the five-day volume-weighted average price from the date of grant, and are valid for a five-year period. The options have been granted under and are governed by the terms of the company's long-term incentive plan and are subject to the policies of the TSX Venture Exchange.
First Phosphate Corp has closed an oversubscribed private placement for gross proceeds of $2,339,151.90. The offering was led by management, its board of directors and chief geologist. In connection with the offering, First Phosphate paid $86,491.08 in finder's fees, issued 42,857 common shares at a deemed price of $0.70 per share, and issued 149,654 finder warrants exercisable at $1.25 per share until April 25, 2026, subject to acceleration. The firm also granted 832,000 stock options to certain eligible persons at an exercise price of $0.70 per share, with an expiry date of three years from the date of issuance. The options are subject to time-based vesting such that increments of 25% vest every six months for two years.
Perk Labs Inc closed a private placement of 11,609,909 units at a price of $0.0164 per unit for gross proceeds of nearly $190,000. Each unit consists of one share one warrant exercisable at $0.05 for a period of 36 months. Directors and officers of the company subscribed for 1,219,514 units. The firm also said it entered into a debt settlement agreement with an arms-length creditor to settle around $85,900 debt in consulting and design services provided by the creditor to the company. Perk issued 5,238,414 units to the creditor. Finally, Perk said that Gary Zhang has transitioned from his role as Chief Technology Officer to an advisory role.
Revolve Renewable Power Corp will participate at the first Canadian Climate Investor Conference, taking place on June 8, 2023, at the Hyatt Regency Hotel in Toronto. The conference will bring together growth oriented, publicly traded clean energy and technology companies, and climate conscious investors, to share ideas and to discover ways to accelerate the deployment of capital needed to build a more sustainable future for Canadians. "We are excited to be part of this inaugural conference and look forward to growing it in the years to come,” Revolve president Omar Bojorquez said. “Our attendees will get the opportunity to identify and interact with companies that can enhance their climate investment portfolios, as well as hear inspiring success stories from Canadian publicly traded energy companies, peers, and industry leaders." Register here: https://www.eventbrite.ca/e/canadian-climate-investor-conference-tickets-609825182537.