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Proactive news headlines: IQ-AI, Canadian Overseas Petroleum, Arix Bioscience, Eden Research …

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

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Your daily round-up from the world of Proactive

IQ-AI Limited (LON:IQAI) and its subsidiary Imaging Biometrics are developing a technology that they believe could revolutionise the detection and treatment of brain tumours. The IB CAD has been created to pick up cancer cells before they are visible on standard imaging. It does this by combining multi-parameter magnetic resonance data and artificial intelligence algorithms, and, in a structured way, it can pick up the tell-tale signs of the disease called infiltrating tumour cells. It even has the potential to work in non-contrast enhancing regions of the brain, thus providing the "ultimate in early detection, a key advancement for cancer treatment".

Canadian Overseas Petroleum Limited (LON:COPL) shares started Friday positively after the oiler announced its 50%-owned joint venture ShoreCan has agreed an extension to the backstop date to sign-off definitive documents to seal the resolution of its dispute with Essar, Shorecan’s partner in Nigeria. The new date has been set as July 20, the company said. "The time taken to enter into the definitive documents has taken longer than both parties thought at the outset,” said Arthur Millholland, COPL chief executive, said in a statement.

Arix Bioscience PLC (LON:ARIX) has said its portfolio company, Atox Bio, is planning to submit a new drug application (NDA) to the US Food and Drug Administration (FDA) for its Reltecimod drug in the third quarter of 2020 under an accelerated approval pathway. The plans follow results from a phase 3 clinical trial of Reltecimod which showed positive effects on resolution of organ dysfunction in patients suffering with necrotizing soft tissue infection. The Phase 3 results showed that Atox’s Reltecimod, in conjunction with currently available standard of care demonstrated, a “significant difference” in the percentage of patients who achieved resolution of organ dysfunction/failure by day 14 versus standard of care alone.

Pan African Resources plc (LON:PAF) has told investors that its gold production increased by 4.1% in the year ended June 30, 2020. In the twelve-month period, it produced 179,575 ounces of gold up from 172,442 ounces in 2019. The company noted that operations have implemented stringent policies and protocols to deal with the ongoing coronavirus (COVID-19) pandemic.

Eden Research PLC (LON:EDEN), the natural pesticides group has appointed a new head of biology and development. Dr Aoife Dillon joins Eden from another AIM-listed group, Plant Health Care where she has been the technical director for the EMEAA Region for the past three years. Prior to that, Dillon was chief technology officer at Exosect, a formulations company focused on the targeted delivery of biological and synthetic compounds in agriculture. At Eden, Dillon will focus on developing the product pipeline from a biology standpoint.

Sativa Group PLC (LON:SATI) said it recorded a record month of revenues in June from its cannabidiol (CBD) and medicinal cannabis businesses. The company said it achieved record sales in the month through a combination of both CBD and hand sanitiser sales from its Goodbody brands including Goodbody Botanicals and Goodbody Wellness. Sativa said a range of sectors including restaurants, airlines and hotel groups had used the Goodbody hand sanitiser programme to protect their customers and staff during the coronavirus pandemic.

Mosman Oil And Gas Ltd (LON:MSMN) told investors that the Northern Territory Government has given the green light for the company to extend its permit in the Amadeus basin. In a statement, the company said that it was advised by the relevant minister in the regional government that the application for a suspension and extension to the work programme conditions for the EP145 permit has been approved. The requested extension will give Mosman permission to suspend its committed programme by 12 months, and, a new permit deadline is set for August 21, 2023.

Primary Health Properties PLC (LON:PHP), a leading investor in modern primary health facilities, has announced the successful completion of its upsized placing announced on Thursday, which raised gross proceeds of approximately £140mln following strong investor demand. The group said a total of 96,555,000 new ordinary shares were placed by Numis Securities and Peel Hunt at a price of 145p each with existing and new institutional investors, representing a discount of just 1.9% to the stock’s intra-day trading price on Thursday. The placing, which represents approximately 7.9% of Primary Health Properties’ issued ordinary share capital prior to the fundraising, was upsized from approximately £120mln due to strong investor demand.

APQ Global (LON:APQ) announced that its wholly-owned subsidiary Delphos International has appointed Kofi Appenteng as chairman for Africa. Appenteg is the president of the Africa-America Institute (AAI), which was founded in 1953 with a mission of promoting enlightened engagement between Africa and America through education, training and dialogue. He has over 30 years of domestic and international experience as a corporate lawyer, investment banker and board director.

Vietnam Holding Limited (LON:VNH) has said domestic demand in the South East Asian country, including that derived from online shopping, is “rebounding much faster than expected” from disruption caused by the coronavirus pandemic. In an investor report, the closed-end fund said Vietnam’s external exposure to tech supply chains has “helped offset some weakness in traditional manufacturing sectors” during the pandemic, and that while its portfolio’s net asset value (NAV) was down 2.6% month-on-month it was “optimistic about Vietnam’s fast-growing use of e-commerce and believe it will be a cornerstone of the country’s economic road to recovery”.

Collagen Solutions PLC (LON:COS), the developer and manufacturer of biomaterials and regenerative medicines for the enhancement and extension of human life, announces that its wholly-owned operating subsidiary in the USA has received a loan of US$150,000 in the form of a promissory note from the US government's Small Business Administration's COVID-19 economic support programme. It said this loan has a 30-year term with an interest rate of 3.75% with the first payment due 12 months from the date of the promissory note. Collagen Solutions USA may use the funds for a range of business working capital needs. The loan is in addition to the US$240,000 US government-backed forgivable loan, and NZ$35,000 grant from the New Zealand Ministry for Social Development, previously announced on May 20, 2020.

TomCo Energy plc (LON:TOM) said it is not aware of any reason for a recent increase in its share price, saying it is currently working with the joint venture partner Valkor to finalise planned upgrades and a proposed work programme to the Petroteq Energy existing oil sands plant (POSP) at Asphalt Ridge in Utah. The oil shale explorer said it believes it will take around three months to complete the upgrade works to the POSP, with the test programme expected to take a further four to six weeks, with third party verification of the process to then be undertaken following the testing.

Genedrive PLC (LON:GDR) has developed new software to automate results interpretation of tests run on its Genedrive 96 SARS-CoV-2 kit for coronavirus (COVID-19). Genedrive 96 Exporter is a new in-vitro diagnostic medical device (IVD) software module for automated results interpretation of the Genedrive 96 SARS-CoV-2 Kit. The software displays the interpreted data as 'positive' or 'negative' in a graphical user interface and as an exportable report. The interpreted data is then available for further inspection on an individual sample basis or as part of a sample group. In a separate announcement, the molecular diagnostics specialist said revenue for the year to the end of June was in line with expectations at £1.0mln, down from £2.4mln the year before. As previously announced, revenues have been hit hard by the disruption caused by the coronavirus pandemic.

InnovaDerma PLC (LON:IDP) has said it performed “resiliently” during the coronavirus pandemic lockdown, though the health and beauty retailer has been hit by rising advertising costs. With a flexible model, the Skinny Tan group said it has been able to channel efforts towards its established online platform after retailers such as Boots and Superdrug were forced to close their doors during the pandemic. Customer traffic in the UK was up 27%, while in the US it was ahead 65%, Innovaderma said in a trading update. This helped pick up the slack from the bricks and mortar operation and contributed to an eventual 2.3% boost to revenues to around £13.2mln for the 12 months ended June 30, 2020.

Remote Monitored Systems (LON:RMS) has reshuffled its board and announced that its non-executive chairman Nigel Burton will retire effective immediately to pursue other opportunities. The AIM-listed firm said non-executive director Paul Ryan will take over as chairman, however, Burton has agreed to continue to provide support to the company on a consultancy basis to ensure a smooth transition. RMS also said it has appointed John Richardson, a director of its subsidiary GyroMetric Systems Limited, as its chief operating officer who will also replace Burton on the company’s audit and remuneration committees.

Inspired Energy PLC (LON:INSE) confirmed it has raised £10.7mln in its firm placing, as part of an overall £35mln equity funding to support its growth plans. Some 71.39mln new shares were sold at a price of 15p in the firm placing. A further £19mln has been conditionally raised with 128.6mln shares being sold in the same terms, subject to shareholder approval. In addition, £5mln is being raised in an open offer to qualifying existing investors with the issue of 33.44mln shares.

In an earlier statement announcing the fundraise, Inspired Energy also said it has struck a deal to acquire the 60% of Ignite Energy that it does not already own. The acquisition of Ignite - which provides energy management services to corporate clients like Halfords, Starbucks, and WH Smith - will accelerate the group's organic growth in optimisation services, the company said in a statement. It will give the group full control of Ignite and allow it to leverage its platform to cross-sell, Inspired added. 

Feedback PLC (LON:FDBK), the specialist medical imaging technology company, said has been advised that Premier Miton Investors is interested in 50,000,000 ordinary shares in the company, representing 4.68% of the issued share capital and voting rights.

Condor Gold PLC (LON:CNR) (TSX: COG) announced that on 9 July 2020, Jim Mellon, a non-executive director of the group purchased 400,000 ordinary shares in the company at a price of 38p per share for a total consideration of £152,000 Accordingly, further to the purchase, Mellon owns directly and indirectly a shareholding of 18,426,963 Condor Gold ordinary shares.

Amryt Pharma PLC (LON:AMYT) (NASDAQ:AMYT), a global, commercial-stage biopharmaceutical company dedicated to developing and commercializing novel therapeutics to treat patients suffering from serious and life-threatening rare diseases has announced that, on July 9, 2020, an institutional investor exercised subscription rights relating to 4,000,000 zero cost warrants. These warrants were issued in September 2019 as part of the company's acquisition of Aegerion. Each warrant entitles the holder to subscribe for one ordinary share for no additional consideration.

e-therapeutics PLC (LON:ETX.L) has announced that further to the fundraising announced on July 7, 2020, Numis Securities has exercised the broker option in respect of 11,204,165 new ordinary shares, raising gross proceeds of approximately £1.34mln for the company. The broker option shares are being issued at a price of 12p per share (being the placing price) and will be issued on the same terms and conditions as the placing.

Impax Environmental Markets PLC (LON:IEM) said its monthly factsheet for June 2020 is now available on the company's website at: https://impaxenvironmentalmarkets.co.uk/wp-content/uploads/2019/05/factsheet-Impax-Environmental-Markets-Plc-June-2020.pdf

Belvoir Group PLC (LON:BLV), the UK's largest property franchise, has confirmed that its chief executive officer, Dorian Gonsalves will present at the Mello Virtual event 'Investing in the New World' at 12pm and 3pm today, Friday, July 10, 2020. Both Gonsalves, and Belvoir’s chief financial officer, Louise George, will be available to talk to event participants at the virtual Belvoir stand from 11am to 4pm, where a copy of the presentation and the group's 2019 Annual Report will also be available.  Investors can register to attend at www.melloevents.com  A copy of the presentation given via webinar to investors will be available to view post-event on the Reports & Presentations page of the company's website at www.belvoirgroup.com, however, no material new information will be disclosed.

Greencoat UK Wind PLC (LON:UKW), the leading listed renewable infrastructure fund, invested in operating UK wind farms said it will announce its net asset value as of June 30, 2020, the quarterly dividend and release half-year results for the period to June 30, 2020, on July 30, 2020.

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