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Orosur Mining 1.8p £2.9m (AIM:OMI)
The South American-focused gold developer and explorer, announced the appointment of Brad George, 54, as Non-Executive Director of the Company with immediate effect. Mr. George is a geoscientist by profession, with over 30 years’ experience in global mineral exploration, development and financing. In particular, Mr. George has a long history in South America, having managed, assessed, and financed projects and companies in a range of countries across the continent. Currently Brad is focused on managing gold and base metals exploration projects in West Africa, and therefore offers broad and specialized skills in mineral exploration across the developing world.
In addition, Mr. George spent several years as a rated mining analyst in London, focusing on AIM listed miners and thus has a sound understanding of capital markets and financial management of exploration, feasibility and development programs. Mr. George is resident in Perth, Western Australia, is a member of the Australian Institute of Geoscientists, and is a JORC Competent Person for the reporting of mineral exploration results.
Sareum Holdings* 0.825p £25.3m (AIM:SAR)
The specialist small molecule drug development business , announces that, further to its announcement of 28 April 2020, the Company's virtual presentation, including the video content, given by its CEO, Dr Tim Mitchell, at BioTrinity 2020 (28 April - 1 May 2020) can now be viewed via the Company's website, www.sareum.com and at bit.ly/3aMVo8Z .
Genedrive 130p £45.3m (AIM:GDR)
The near patient molecular diagnostics company, announces it has completed the last significant manufacturing milestone in the co-development of the Genedrive® 96 SARS-CoV-2 kit with Cytiva. The PCR-based test has completed its pilot manufacturing runs and yielded high performing multiplexed assays for COVID-19 testing. The overall project plan currently remains on track and the company is targeting CE marking in approximately 3 weeks' time.
The Genedrive® 96 SARS-CoV-2 test is one of two assay programmes the Company is developing following an announcement made on 25 March 2020, with a genedrive point-of-care assay due later in the calendar year.
Tekcapital 12.5p £9.8m (LON:TEK)
Conditional placing of £925k at 10p. Funds raised will primarily be committed to Tekcapital's portfolio of companies and to provide additional working capital for the Company.
- The Placing Price represents a discount of approximately 13 per cent. to the closing mid-market price of 11.5 pence on 30 April 2020,
Frontier IP 66.5p £33.7m (AIM:FIPP)
The specialist in commercialising intellectual property, today notes the announcement from portfolio company Molendotech Limited that it has raised £425,000 through an equity funding round.
The proceeds from the equity funding round will be used by Molendotech to accelerate development and expand the applications of the Company's novel rapid testing technology for bacteria, which has attracted strong interest internationally from potential customers concerned about secondary infections as they tackle the COVID-19 outbreak. Palintest, a subsidiary of FTSE 100 group Halma Plc, has already launched a commercial kit based on the technology to detect faecal bacteria in recreational water.
Scancell Holdings 8.25p £38.4m (LON:SCLP)
The developer of novel immunotherapies for the treatment of cancer announces that in recognition of the impact of the COVID-19 crisis and to help fund the initial research work to develop a vaccine for COVID-19 the members of the Company's Senior Management Team have agreed to a temporary 25% reduction in salaries with effect from 1st May 2020. None of Scancell's other employees will be affected.
Further, on 30 April 2020 it has granted 1,000,000 share options to acquire ordinary shares of 0.1 pence each in the capital of the Company to each of the members of its Senior Management Team (Dr John Chiplin, Dr Cliff Holloway, Professor Lindy Durrant, Dr Sally Adams, Dr Richard Goodfellow and Mr Keith Green. The Options have an exercise price of 8.15 pence each and will vest twelve months from the date of Grant.
Independent Oil & Gas 11.65p £55.9m (AIM:IOG)
The UK Oil & Gas Authority has approved the Core Project Phase 1 Field Development Plan FDP. The Company also provides a comprehensive project and corporate update.
o Working with suppliers to ensure social distancing is in effect at all relevant sites, to maintain safe project delivery
o Further strengthened focus on cost savings across all activities
· Construction activities are ramping up to deliver the Southwark and Blythe platforms on schedule in 1H 2021
· Offshore pipelay campaign remains on schedule for 2H 2020 with necessary applications submitted to regulatory bodies and the line pipe already transported to the UK
· Competitive rig tender for the Phase 1 drilling programme is progressing well, supported by the Company's selected well management contractor
o Detailed well and completion design work is ongoing in parallel. Detailed engineering and planning continues for refurbishment of the Thames Reception Facilities (TRF) at Bacton, with initial works expected to commence in Q2 2020 despite access restrictions due to Covid-19
Frontier Development 1637p £637m (AIM:FDEV)
IP rights licenced from Games Workshop to develop and publish a real-time strategy game worldwide on PC, console and streaming platforms for release in FY23
· Game based within the globally popular world of Warhammer® Age of Sigmar®
· Two major releases from internal development teams are now confirmed for each of FY22 and FY23
· Lockdown-related demand for games is having a positive impact on sales globally
· Home working for all staff has been in place for over a month
AVACTA 103p £214m (AIM:AVCT)
Avacta has entered into a collaboration with Adeptrix (Beverly, MA, USA) to develop a high throughput COVID-19 antigen test using Adeptrix's proprietary bead-assisted mass spectrometry (BAMS™) platform.
Avacta and Adeptrix will collaborate to develop and manufacture an Affimer-based BAMS coronavirus antigen test that will provide clinicians with a significant expansion of the available testing capacity for COVID-19 infection in hospitals.
Adeptrix's novel BAMS platform combines enrichment of the sample to improve sensitivity with the power of mass-spectrometry to improve specificity. Hundreds of samples per day can be analysed by a single technician using BAMS, exceeding the capacity of single PCR machine, making BAMS a very attractive high throughput technique for COVID-19 screening in the clinical setting.
KR1 4.75p £6.2m (AQSE:KR1)
The Company has invested a total of US$75,000 in the Union Finance project. The Company will receive a yet-to-be-determined amount of discounted tokens from this seed round participation.
Union Finance is a credit mutual built on Ethereum, which allows people and organisations to take out loans on the blockchain without the need for collateral, a credit score, or revealing personal information on a public ledger.
*denotes a corporate client of Hybridan LLP
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Derren Nathan
0203 764 2344
derren.nathan@hybridan.com