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Proactive news headlines: Tiziana Life Sciences, Zephyr Energy, IronRidge Resources, 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

Tiziana Life Sciences PLC (NASDAQ:TLSA) (LON:TILS) has signed an agreement to use its “potentially transformative” approach to modulating the immune system in a human clinical study of patients with coronavirus (COVID-19). Work will get underway in Brazil starting next month, with the company's drug, Foralumab, administered by nasal spray either on its own or in combination with an orally-taken anti-inflammatory called dexamethasone. Tiziana has moved straight into human trials because it had already secured safety data for the nasal application for the drug from a phase I clinical assessment carried out a year ago.

Zephyr Energy PLC (LON:ZPHR) has told investors it expects to see exciting developments for its Paradox basin project over the coming months. The company, formerly named Rose Petroleum, today released interim results for the six months ended June 30, 2020 – a period in which the company completed its restructuring and relaunch. At the end of June, the company had US$400,000 of cash and equivalents. It noted that cash conservation remains a key priority of the board. The company highlighted a strategy to grow the business through acquisition. It sees that strong financial returns can be generated from the highly fragmented smaller end of the US oil exploration and production sector.

IronRidge Resources Limited (LON:IRR) has revealed the latest high-grade drilling results from its Zaranou gold project in Côte d'Ivoire. The final batch of results of the second phase drill programme come from the Ebilassokro and Ehuasso targets. Highlights of the results include grades up to 10 grams per tonne across a 16 metre section, and, 40 metres with 1.29 grams per tonne.

Eden Research PLC (LON:EDEN) has announced that its commercial collaborator, Eastman Chemical Company has received authorisation for the sale of its Cedroz product in France. The AIM-quoted company, which is focused on sustainable biopesticides and plastic-free formulation technology for use in the global crop protection, animal health and consumer products industries, said the French regulator has also approved Eden's biofungicide, Mevalone, for use in organic agriculture in France. Separately, the group added, it has been notified that Mevalone has received authorisation for use on table and wine grapes in Serbia via regional distributor K&N Efthymiadis (KNE).

OptiBiotix Health PLC (LON:OPTI) said its subsidiary ProBiotix Health has signed an exclusive distribution agreement for Brazil with local group Ayalla Marketing. The UK company’s new partner will distribute the cholesterol-reducing probiotic, LPLDL, both as an ingredient and as four finished products - CholBiome, CholBiomeX3, CholBiomeBP and CholBiome. OptiBiotix said the deal offered an “agreed and expected” first order within 30 days from approval by the Brazilian authorities of its food technology.

FastForward Innovations Ltd, the AIM-quoted company focused on making investments in fast-growing and industry-leading businesses, has noted that its investee company Juvenescence Limited has signed a partnership deal with Evgen Pharma PLC.FastForward has around a 0.63% interest in the issued stock of Juvenescence. In a statement on Wednesday, Juvenescence - a life sciences company focused on modifying ageing and increasing human healthspan - said Evgen has licensed its sulforaphane stabilization technology for use in several non-pharmaceutical applications led by its JuvLife division.

Supermarket Income REIT PLC (LON:SUPR) has said it is to raise £150mln to take advantage of opportunities that have become available since the onset of coronavirus restrictions. The trust invests in sites occupied by the major supermarket chains such as Tesco, Sainsbury’s, Morrisons and Waitrose and has identified £400mln worth of omnichannel sites that meet its criteria of size and online fulfilment potential. Property funds having to meet redemptions are one source of sites, it said, and due diligence has already been carried out on three worth £135mln in total. The REIT also announced it was increasing its dividend target for 2021 to 5.86p after raising the dividend by 4% to 5.8p in the year to June just ended.

Keywords Studios PLC (LON:KWS), the ever acquisitive video games services firm, has confirmed a 13% increase in first-half revenue at €173.5mln, with organic revenues marking an 8% rise, as it also inked a new deal. The group's underlying earnings (adjusted EBITDA) jumped 19% to €30.8mln for the six months ended June 30, 2020, versus €25.8mln in the same period of 2019. Keywords highlighted strong demand for its services and a robust trading performance with its largest service line, game development, showing particularly strong growth. Keywords also announced its latest bolt-on through the US$13.3mln acquisition of LA-based Heavy Iron Studios Inc, a technical specialist that mainly works on top-tier game titles – most recently, for example, it has been contracted to Crystal Dynamics for its new Marvel Avengers title and has worked on Activision’s Call of Duty franchise. A structured deal sees the company pay US$4mln of cash upfront, US$500,000 on the first anniversary of the deal, and up to US$8.8mln of contingent payments tied to performance targets across the first two years under the Keywords’ banner.

Cornish Lithium Ltd has revealed the results of preliminary sampling of deep geothermal waters at the United Downs Deep Geothermal Power Project near Redruth, Cornwall. Initial results indicate some of the world’s highest grades of lithium and best overall chemical qualities encountered in published records for geothermal waters anywhere in the world.

Metal Tiger PLC (LON:MTR) has relayed metallurgical test results from Cobre Limited’s (ASX:CBE) Schwabe prospect, at the Perrinvale project. AIM-quoted Metal Tiger owns an 18.8% shareholding in Cobre which has had analysis from a 90 kilogram sample from Schwabe. A composite head assay measured 3.6% copper, 0.08% cobalt, 0.03% lead and 1.1 grams per tonne (g/t) gold, and 13.1 g/t silver.

ADM Energy PLC (LON:ADM) told investors it has formally submitted a bid to the Nigerian Department of Petroleum Resources as part of the 2020 Marginal Field Bid Round. Nigeria’s licensing process has made up to 57 marginal field assets available for oil and gas companies to bid for. These span projects that are onshore, swamp and shallow offshore. ADM is participating in the process alongside partner OilBank International, with the partners previously pre-qualifying for the bid round.

[email protected] Capital PLC (LON:SYME) has distanced itself completely from what it says was a fake article that appeared on Wednesday that claimed to contain bullish recommendations from several high profile fund managers. In a statement, the AIM-listed online inventory platform said: “It is a totally erroneous article reviewing a series of fabricated SYME forecasts that was issued yesterday afternoon.  This appeared on more than one 'fake news' website.“SYME wishes to make clear that the article was both inaccurate and misleading and that it totally dissociates itself with the content."

Mosman Oil and Gas Limited (LON:MSMN) the oil exploration, development, and production company, said it has received notification to exercise warrants over a total of 62,500,000 new ordinary shares in the company at a price of 0.15p per share. The group said the funds from the warrants exercise of around A$165,000 will be added to its existing cash reserves.

European Metals Holdings Limited (LON:EMH) (ASX:EMH) (FRA:E861.F) said it has issued 50,000 new ordinary shares - represented by Depository Interests or Dis - in the company in respect of an exercise of options at A$0.25 per DI with the proceeds of A$12,500 to be used for general working capital.

Integumen PLC (LON:SKIN) announced that it has received notification from multiple warrant holders to exercise warrants over 42,500 shares in the company at an exercise price of 20p each. The consideration for the exercise of the warrant shares amounts, in aggregate, to a cash value of £8,500.

Galileo Resources PLC (LON:GLR) said it has started a helicopter-borne electromagnetic survey (EM) over two of the tenures within its Kalahari Copper Belt project in western Botswana. The objective, the group said is to define the most prospective structural setting mineralisation within the PL40/2018 and PL39/2018 licences, as well as possibly directly detect any conductive mineralisation present. Separately, Galileo Resources said that it has issued a total of 6,250,000 fully paid ordinary shares in the company at a price of 0.6p per share following the exercise of warrants under the terms of its placing agreement dated October 17, 2019.

Wall Street bank Citi is taking a bullish view on the nascent green hydrogen industry, saying it holds the key to “decarbonise harder to abate" industrial sectors. “Favourable policy could prove a boon to suppliers of electrolysers, fuel cells and renewables, although existing suppliers of fossil fuel equipment will need to adapt to a range of new fuel sources,” its analysts said. In parallel, the London arm of the American outfit has initiated coverage of Ceres Power PLC (LON:CWR) with a ‘buy’ recommendation. Ceres, which at a share price of 524p is worth almost £1bn, is at the vanguard of the hydrogen revolution.

Union Jack Oil PLC (LON:UJO), the UK-focused oil and gas group, has raised £7mln through an oversubscribed funding round. The fundraise comprised a placing and a subscription at 0.16p per share. David Bramhill, Union Jack’s executive chairman, said he was delighted with the outcome, which he said laid a platform for further development of the AIM-listed group.

Tharisa PLC (LON:THS) announced that Julia Zhengzhi Hu has resigned as a non-executive director of the company with effect September 17, 2020. It also announced that Vaneese Wing Yee Chu was appointed a non-executive director with effect from the same date. The group saidt hat Chu, a Chinese national, represents NWS Holdings Limited, a company whose shares are listed on the Hong Kong Stock Exchange, and a subsidiary of which holds 15.21% of Tharisa's issued share capital with voting rights as at August 31, 2020.

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