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Small Cap Wrap - Sumo Group, Orosur Mining, Gunsynd and more...

Intelligent Ultrasound 15.7p  £43.8m (LON:MED) The artificial intelligence (AI) based ultrasound software and simulation company, today announced that GE Healthcare has launched its new AI-enhanced Women's Health ultrasound system, Voluson SWIFT. The Voluson SWIFT features SonoLyst, the world's first fully integrated AI tool that recognizes the 20 views recommended

Kore Potash -

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AIM Schedule One from Fonix, a mobile payments and messaging company, enabling businesses to charge users' mobile bills and send users SMSs via their Carrier.  


China Yangtze Power Co, intended  secondary GDR offer on the LSE (standard listing) from the largest hydropower company in the world.


Kaspi.kz, which operates the Kaspi.kz Super App, Kazakhstan's most popular mobile app and the gateway to its market leading Payments, Marketplace and Fintech platforms  intends to conduct a secondary GDR offer on the LSE.


Trupatti Graphite, the fully-integrated, cash generative, specialist graphite and graphene producer with operations in Madagascar and India, announced its potential intention to undertake an initial public offering on the LSE (standard listing). 


Buffetology Smaller Companies Investment Trust— Buffettology is seeking to raise a minimum of £100m via an initial placing, an offer for subscription and an intermediaries offer on the Main Market. will be the Investment Manager to the Company, led by Keith Ashworth-Lord (CIO of Sanford Deland Asset Management Limited). Sanford DeLand manages approximately £1.4 billion across two open ended funds, the CFP SDL UK Buffettology Fund and the Free Spirit® Fund.  


Wheaton Precious Metals (TSE:WPM) - Proposed secondary listing on bringing one of the world’s largest precious metal streaming companies to the London Stock Exchange. Due Q 2020


AB Ignitis grupe—leading utility and renewable energy company in the Baltic region. Admission of its Shares to the Main Trading List of Nasdaq Vilnius and admission of its GDRs to the Official List of the FCA. Offer Price Range corresponds to a market capitalisation of approximately EUR1,691.7 - EUR2,105.2m. 


Calnex,  an established provider of test and measurement solutions for the global telecommunications sector, will raise a total of £22.5m (before expenses), comprising £6.0m for the Company and £16.5m for existing shareholders .  Due 5 October 2020, under the ticker CLX. Based on the Placing Price, the market capitalisation of the Company will be £42.0m on Admission.  


Mode Global Holdings to join LSE (standard).  Mode is a UK-based Fintech Group, building a modern financial services business to support an increasingly digitised economy and financial system, combining the best of banking, payments, investment, loyalty and digital assets.  Targeting £7.5m raise.


Guild Esports a UK-based owner and developer of esports teams, has announced its intention to seek a listing of its ordinary shares to the Standard Listing segment of the London Stock Exchange this autumn.  its founding shareholders include David Beckham, former football player and captain of England, and now co-owner of new MLS team Inter Miami CF.  Raised £20m. Expected mkt cap £41.2m. Due 2 October. 


HOME REIT intends to float to the Main Market raising up to £250m. The Company will seek to contribute to the alleviation of homelessness in the UK, whilst targeting inflation-protected income and capital returns, by investing in a diversified portfolio of assets across the UK which will be dedicated to providing accommodation to the homeless.  Due Mid October


Sativa Wellness Group—(Canadian Securities Exchange: STIL) renamed from Stillcanna Inc following the conditional acquisition of  Sativa Group (AQSE:SATI) to list on the AQUIS Exchange. A fully integrated European seed to consumer CBD group with the pricing, products, and stability to meet the CBD market demand in the medium term. With world-class extraction and formulation experts, an agricultural team that has over 20 years’ experience farming hemp, along with laboratory testing capabilities, the group has established itself globally as a trusted source of high-grade, premium wholesale CBD brands and products. 


Umuthi Healthcare Solutions Plc, the technology led healthcare business focused on the distribution of pharmaceuticals and the provision of medical facilities in remote areas, seeking admission to the Standard Listing segment of the Official List  


Kibo Energy PLC, the multi-asset Africa focused energy company, is seeking admission for its 100% owned UK subsidiary Sloane Developments Ltd , which will be renamed Mast Energy Developments PLC (MED), to the Standard List of the London Stock Exchange plc . Targeted for Q4 2020. The MED business strategy is to acquire and develop a portfolio of flexible small-scale power generation assets, exploiting a growth niche market in the UK for Reserve Power generation to balance out the national grid at critical times.  
 

Banquet Buffet
Intelligent Ultrasound 15.7p  £43.8m (LON:MED)
The artificial intelligence (AI) based ultrasound software and simulation company, today announced that GE Healthcare has launched its new AI-enhanced Women's Health ultrasound system, Voluson SWIFT. The Voluson SWIFT features SonoLyst, the world's first fully integrated AI tool that recognizes the 20 views recommended by the International Society of Ultrasound in Obstetrics and Gynaecology mid-trimester practice guidelines for fetal imaging and incorporates Intelligent Ultrasound's ScanNav Assist AI technology. 

Diurnal Group 76p  £92.7m (LON:DNL)
The specialty pharmaceutical company targeting patient needs in chronic endocrine (hormonal) diseases, announces that the US Food and Drug Administration (FDA) has approved Alkindi® Sprinkle (hydrocortisone oral granules) as replacement therapy in paediatric patients with adrenocortical insufficiency (AI).
Diurnal has partnered with Eton Pharmaceuticals for the commercialisation activities of Alkindi® Sprinkle in the US, including pricing and reimbursement. Eton will initially use product from Diurnal's European Alkindi® supply chain, with an option to establish its own supply chain in the US in the future. As previously announced, under the terms of the licensing agreement, Diurnal will receive a $2.5m cash milestone payment upon first commercial sale of Alkindi® Sprinkle in the US following grant of Orphan Drug Status. The Company will also receive a tiered royalty on sales ranging from low double-digits to high teens and is due tiered sales-based milestone payments of up to $45m in aggregate subject to annual sales thresholds. These payments are in addition to the upfront payment of $5.0m received by Diurnal upon signing the contract with Eton in March this year. 
 
ADM Energy*4.8p  £4.7m (LON:ADME)
The natural resources investing company, announces its interim results for the six months ended 30 June 2020.  OML 113: ·Two wells (Aje-4 and Aje-5) producing at an average of 2,126 bopd (H1 2019: 2,967 bopd), with 106 net to ADM.  The temporary drop in production reflects a period of maintenance on the FPSO and the Partners anticipate production will increase in H2. · Asset-level operational costs reduced by 37.5% - breakeven reduced to US$28 per barrel. · Partners exercised right to store oil on FPSO for later sale with anticipated recovery in crude oil price. · The next lifting is planned for October 2020 and will enable the Company to benefit from any recovery and upturn in oil prices.
· Entered into an agreement with EER to increase revenue interest in OML 113 from 5% to 9.2%, expected to complete in H2 2020
· Signed strategic alliance MoU with Trafigura to develop African energy projects and provide conditional pre-finance of up to US$100m
· Raised £400k for working capital, with directors participating, and converted £152k of debt to equity
Post Period Highlights:
· Strengthened the Board with the appointment of two high-calibre Non-executive Directors, Sir Henry Bellingham and Dr Stefan Liebing
· Added two oil and gas veterans, Darrell McKenna and Dr Satinder Purewal, to the technical team
· Raised additional equity and debt of £672,500 through a placing and subscription, with five directors participating, and converted £395,798 of debt to equity
· Submitted bid for a marginal field in Nigeria's 2020 Marginal Field Bid Round

Physiomics* 7.2p  £7m (LON:PYC)
FY June 20 results from provider of technology-based solutions to predict the effects of cancer treatment regimens for the biopharma industry, is pleased to confirm 
• Total income (revenue and grant income) increased 7% to £841,649 (2019: £783,101), the highest in the Company's history
• The operating loss decreased 33% to £134,385 (2019: £201,219)
• The loss after taxation decreased 38% to £64,424 (2019: £104,040)
• Placing and subscription in May 2020 raised £828,750 (gross) at an issue price of 3.5 pence per share 
• Cash and cash equivalents at 30 June 2020 of £1,047,860 (30 June 2019: £405,366) 
“The Company continues to develop its reputation amongst investors and clients as it moves ever closer to profitability and cashflow break-even.  With additional funding from our May 2020 fundraise applied to marketing activities, the Company's business development pipeline is the strongest it has ever been.  The Company expects to continue to attract both repeat business and new clients of all sizes, to develop its personalised dosing technology and to explore innovative collaboration opportunities over the course of the current financial year.”

Erris Resources SUSPENDED  (LON:ERIS)
The European focused mineral exploration company, announced that it is in the advanced stages of a transaction for the proposed acquisition from Bacanora Lithium plc  of 50%. of the issued share capital of Deutsche Lithium GmbH, the principal asset of which is the Zinnwald Lithium Project in Germany of which it has joint operational control . 
Zinnwald, which is located in the industrial heartland of Germany, is a late stage, high value lithium project with highly attractive economics and a mining licence already in place.  A 2019 Feasibility Study on the Project estimated that it has a pre-tax, discounted at 8%, NPV of approximately €428m; an Internal Rate of Return ('IRR')   of 27.4%; and an average LOM (life of mine) annual EBITDA of €58.5m. In accordance with rule 14 of the AIM Rules, the Company's ordinary shares will be suspended from trading on AIM with effect from 7:30 a.m. today.

AFH Financial 310p  £133m (LON:AFHP)
Trading update from the leading financial planning led wealth management firm,, Since the release of the Company's interim results, the Board has been pleased that ongoing management fees returned to anticipated levels during the summer period and the Group has not experienced significant outflows of clients' funds. However, due to ongoing COVID-19 restrictions and challenges of remotely interacting with prospective clients, the recovery in new business written by the wealth management division and the associated inflow of new funds has been slower than anticipated and, since May, has remained below pre-COVID-19 levels. The Company's Protection business has continued to trade in line with the Board's expectations throughout the period. As a result of these factors, whilst the Board is pleased that revenue and EBITDA for the full year are anticipated to be ahead of 2019, it expects the full year EBITDA to be slightly below its previous expectations.  The Group expects to have reduced outstanding deferred consideration by the financial year end to approximately £20m, further strengthening its balance sheet. 

Kore Potash  0.71p  £17.3m (LON:KP2)
The potash development company with 97%-ownership of the Kola and DX Potash Projects in the  Sintoukola Basin, announced that following the recent equity fundraise, work has commenced on the Definitive Feasibility Study ("DFS") for the Company's DX Project ("DX").
· The work to complete Phase One of the DFS on Kore's DX Project has commenced
· A drilling programme consisting of the drilling and analysis of up to 5 new holes is planned to begin in October 2020 - these will improve confidence in the value of DX
· A number of international consultants have been engaged to support the environmental and technical aspects of the DFS
· SQM, a global scale lithium and potassium producer and one of Kore's major shareholders, is providing technical support for key aspects of the DX DFS
· Phase One is planned for completion in May 2021

Orosur Mining 12.3p  £19.7m (LON:OMI)
Colombia update. · Agnico Eagle to join Newmont in Anzá exploration effort. · Approximately US$0.7m in funding expected initially.· Preparations for field work underway. Orosur CEO Brad George commented: "We warmly welcome Agnico to Anzá. To now have two of the world's top 10 gold miners (combined production of over 7.5m oz per year) investing in our project is testament to its potential and we look forward to an eventful year."

Sumo Group 213p  £339m (LON:SUMO)
The award-winning provider of creative and development services to the video  games and entertainment industries, has signed a contract to acquire Lake Street Labs Buyer Corp , the owner of Pipeworks  for an enterprise value of up to $99.5m (based on the Reference Share Price), with  initial consideration of $59.5m. This initial consideration is being satisfied as to $35m from the Group's existing cash resources and $24.5m through the issue of new equity in Sumo Group.  Revenue on a standalone basis of $14.8m, generating underlying adjusted EBITDA of $2.4m in the year ended 31 December 2019 and equivalent figures of $19.4m and $4.2m respectively for the 12 months ended 30 June 2020.  The Acquisition is expected to be significantly earnings enhancing in the year ending 31 December 2021.

Gunsynd 1.15p  £2.93m (LON:GUN)
Investment of  C$100,000 (approximately £58,000) into the gold exploration company Federal Gold Corp (to be renamed Angold Resources Ltd subject to completion of a reverse takeover as detailed below ("Angold" or the "Issuer")).  This investment complements the Company's recent investment in gold and copper explorer Rincon Resources as announced on 22 and 23 June 2020. 
 

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