Proactive news headlines: Thor Mining, 4D pharma, i3 Energy, Zoetic International …

A glance at some of the day's highlights from the Proactive Investors newswire

Newspapers and coffee cup
Your daily round-up from the world of Proactive

Thor Mining PLC (LON:THR) (ASX:THR) said its Molyhil tungsten project has been awarded Major Project status by the government of the Northern Territory in Australia. The chief minister of the Northern Territory, the Honourable Michael Gunner MLA and Thor Mining chairman, Mick Billing, announced a Project Facilitation Agreement (PFA) between the government and the company on Saturday, July 4. The company is currently pursuing US$43mln in project finance for the development-ready Molyhil project.

Zoetic International PLC (LON:ZOE) has announced its first international distribution contract, with a deal in the Czech Republic and Slovakia for its Chill brand tobacco alternative CBD products. The company noted that Chill branded products now have a ‘clear roadmap’ for distribution and sale across filling stations and tobacco retailers in the two countries. Further discussions are ongoing with distributors in other territories, it added

4D pharma plc (LON:DDDD) has said the crucial next stage of a cancer clinical study is underway with four new sites added in the US to accelerate patient recruitment. Up to 30 people per tumour type will participate in Part B of the company’s phase I/II trial to assess its live biotherapeutic, MRx0518, in combination with immune checkpoint inhibitor Keytruda. The assessment will look for a meaningful clinical impact on cancer patients that have become resistant to this type of therapy. Researchers are looking for a complete or partial response or stable disease for six months or longer.

i3 Energy PLC (I3E) has signed a binding agreement to acquire private Canadian oil and gas company Gain Energy through a reverse takeover for US$58.8mln. AIM-listed I3 had flagged the deal two weeks ago, but not named the target. Gain operates in the Western Canadian Sedimentary Basin, the same area of operation as Toscana, another Canadian company I3 agreed to buy two weeks ago. Gain produced at a rate of around 11,000 barrels per day equivalent throughout 2019 and generated around US$34mln in underlying profits.

Shares in United Oil & Gas PLC (LON:UOG) were in demand on Monday after City broker Cenkos raised its valuation for the stock. The move to a risked net asset valuation of 9.5p, a 280% premium to Friday’s closing price, was prompted by a number of positive developments. Key among them was the recent reserves upgrade to the Abu Sennan asset in Egypt.

OptiBiotix Health PLC (LON:OPTI) has extended its distribution agreement with a company called CTC Holding to include an additional product. CTC will now sell WellBiome in Philippines, Vietnam, Indonesia, Colombia, the Dominican Republic and Guatemala in addition to OptiBiotix weight management products SlimBiome, SlimBiome Medical and GoFigure. WellBiome is a blend of prebiotic functional fibres, functional dietary fibres and mineral that promote the diversity of the gut microbiome.

FastForward Innovations Ltd (LON:FFWD) has told investors that Leap Gaming, owned by investee company Fralis LLC, has entered into an agreement with a European online gaming operator. Leap Gaming will provide its complete portfolio of virtual sports through the tie-up with Stoiximan/Betano, a Greek firm with more than 300,000 active users in Europe. FastForward has a 43.4% interest in Leap Gaming.

Supermarket Income REIT PLC (LON:SUPR) has entered into a £74.1mln sale and leaseback transaction with supermarket group, Waitrose & Partners, part of the John Lewis Partnership. The acquired portfolio comprises six freehold supermarkets with an average gross internal area of 32,000 square feet. The stores are let to Waitrose on new 20-year leases with a tenant-only break option in year 15 and are subject to five-yearly, upward-only, CPIH inflation-linked rent reviews; the rent will go up by a minimum of 1% each year and a maximum of 3%.

Power Metal Resources PLC (LON:POW) has raised £1mln through a subscription of shares priced at 0.475p Each Subscription Share will have an attaching warrant with an exercise period of two years from admission of the Subscription Shares and exercisable at 0.75p. Chief executive Paul Johnson has invested £95,000. The money will be used to support strategic expansion of exploration activities and commercialisation of selected project interests. 

Frontier IP Group PLC (LON:FIPP) said its portfolio firm, Fieldwork Robotics has signed an agreement with German engineering group Bosch to accelerate the development of its robot technology to harvest soft fruit and vegetables. The intellectual property investor said Bosch UK will collaborate with Fieldwork’s engineers to optimise its soft robotic arms and develop software to reduce the arms’ cost and increase their speed. Fieldwork is currently focused on developing robots to harvest raspberries, which are more delicate and more easily damaged than other soft fruits and grow on bushes with complex foliage and berry distribution. Frontier, which holds a 26.9% stake in Fieldwork, said the deal with Bosch was “a significant step forward” in commercialising the robotics group’s technology.

Iconic Labs PLC (LON:ICON) has updated on its support for a bid by Greencastle Capital to acquire Maximum Media Limited and for the assets of Joe Media Limited, the owner of the JOE social media publishing brand. In an announcement after Friday’s close, the media technology group said, following its initial announcement of the bid on June 16, Greencastle is in “continued discussions” with Joe Media and should the bid be successful it will enter a management services agreement with Greencastle to manage the JOE assets. Meanwhile, Iconic said its planned acquisition of Social Alchemist, which was planned to complete in the first quarter of 2020, has been delayed by the coronavirus pandemic and that it is in talks to renegotiate the terms of the agreement to provide “maximum flexibility”.

88 Energy Ltd (LON:88E) has told investors its offer for XCD Energy has now reached a level that guarantees it will reach the minimum threshold required for compulsory acquisition. The AIM-quoted Alaska focused exploration firm said that as a result the offer period will not be extended beyond July 13, at 7:00pm (Sydney time).

Collagen Solutions PLC (LON:COS), the developer and manufacturer of biomaterials and regenerative medicines, has altered the repayments scheme on bonds it issued to Norgine Ventures. The company and Norgine have hammered out an amendment on the timing of principal repayments on the Tranche A and Tranche B Bonds. The variation provides for a reduction in the capital payments from July 1 and delays the balloon payments (a large payment due at the end of a loan) on the redemption of the bonds. Prior to this agreement, the company had repaid £1.96mln of the principal, having drawn down £3mln in total.

Galantas Gold Corporation (CVE:GAL) (LON:GAL) has increased the size of the private placement it first announced in June.  The money raised will now amount to C$637,454, or £376,240. The placement price is £0.1328p per share.  The net proceeds will be used to support mine operations and provide general working capital for the company. 

Touchstone Exploration Inc. (LON:TXP) (TSX:TXP) announced that Dr Harrie Vredenburg, a non-executive director of the company exercised share options representing a total of 80,000 common shares of no par value on June 29, 2020, at a price of C$0.33 (approximately 19.5p) per Common Share. It also noted that, on July 3, 2020, Vredenburg sold 38,282 common shares at a weighted average price of C$0.90 (approximately 53.2p) per common share on the Toronto Stock Exchange.

Tower Resources PLC (LON:TRP), the AIM-listed oil and gas company with its focus on Africa, announced that at its annual general meeting held earlier on Monday, all the resolutions proposed in the notice of meeting were duly passed.

Kodal Minerals PLC (LON:KOD), the mineral exploration and development company, announced that at the company's general meeting, held on Monday, all resolutions were duly passed.

Inspiration Healthcare Group PLC (LON:IHC), the global medical technology company, has announced that at its general meeting held on Monday, all resolutions proposed were duly passed by shareholders. Details of the votes cast by proxy will be published on the company's website. The group also announced that its open offer, which closed for acceptances at 11.00am on July 3, 2020, was oversubscribed, with final valid applications from qualifying shareholders in respect of 909,757 open offer shares including applications under the excess application facility, representing a take-up of approximately 118.5%. Qualifying shareholders have been scaled back on a pro-rata basis, such that the maximum number of open offer shares of 767,617 have been issued. Accordingly, the company will raise a total of approximately £17.0mln (before expenses) through the placing, subscription and open offer

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Thor Mining PLC named herein, including the promotion by the Company of Thor Mining PLC in any Content on the Site, the Company receives from...



Seneca Global Income & Growth's David Thomas reckons there's much more NAV...

Seneca Global Income & Growth Trust PLC's (LON:SIGT) David Thomas tells Proactive London's Andrew Scott it's a multi-asset trust and, unusually in the space, he says they're value-investors. ''At the moment we've got around 60% equities of which over half is in the UK'', he says. ''In the UK...

11 hours, 39 minutes ago

8 min read