leadf
logo-loader

Non-Standard Finance rallies as largest shareholder pledges to support fundraising

A look at some of the major movers in London on Tuesday

Okyo Pharma Limited -

Non-Standard Finance PLC (LON:NSF) enjoyed a rare spell in the spotlight, rising 18% to 4.15p on the back of news of a fundraising initiative.

The board has commenced work on a substantial capital raise with the support of Alchemy, its largest shareholder with a view to completing this in the second quarter of 2021.

Once completed, the group will be in a strong position to take advantage of what it believes to be an exceptional market opportunity in the non-standard sector, it said.

1.40pm: Kanabo on a roll after signing distribution deal

Kanabo Group PLC (LON:KNB), up 10% at 28p, was on a high after signing its first UK distribution agreement.

The medicinal cannabis group has signed a distribution agreement with Astral Health Limited, part of LYPHE Group, a medical cannabis solutions specialist that provides clinics, dispensing, import infrastructure and educational services to patients, doctors and the industry in the UK.

Through the agreement, Kanabo said it intends for its VapePod medicinal cannabis formula, under the NOIDECS brand, will be available to patients using Project Twenty21, which aims to provide affordable medical cannabis treatment and create the UK’s largest body of evidence for the effectiveness and tolerability of medical cannabis.

12.40pm: Ethernity dips as warrant exercises keep on coming

Ethernity Networks Ltd (LON:ENET) slipped 8.1% to 34p after 20,834 warrants were exercised at 30p a share.

It’s the fifth time that 30p warrants have been exercised this year. This time around the data processing specialist will receive the princely sum of £6,250.20 from the exercising of the warrants.

The company now has 49.49mln shares in issue.

11.45am: Pineapple Power spikes higher as it fields business approaches

Pineapple Power Corporation PLC (LON:PNPL) jumped 7.7% to 8.25p after the cash shell revealed it has received a number of approaches.

Such approaches are preliminary in nature and the company's board and its advisers are in the early stages of considering them. The company is also actively seeking other potential transaction candidates.

None of the situations currently under review are at a stage where it would be appropriate for the company to announce details to the market, the company advised.

10.50am: Blockchain stocks take a bath

Online Blockchain PLC (LON:OBC) slumped 20% to 72.5p, pretty much in line with the price of Bitcoin, which is off 17%.

Argo Blockchain was down 20% to 215p for similar reasons.

The “flash crash” seems to have been sparked by relentless self-publicist, Elon Musk, the boss of Tesla Motor, who tweeted over the weekend that cryptocurrency prices seem to be a bit high.

READ Bitcoin flash crash knocks Elon Musk off rich list top spot

9.55am: IMC Exploration is heartened by appraisal drilling at North Wexford gold asset

IMC Exploration Group PLC (LON:IMC) hardened 8.1% to a penny after it reported drilling results from its North Wexford gold asset.

Drillhole 20-1200-01 intersected a 47 metre mineralised acid volcanic horizon (mainly rhyolites) at depths up to 50 metres (m) deeper than historical drilling during appraisal drilling on the North Wexford gold project.

Gold mineralisation occurs over five closely-spaced intervals (ranging from 0.9 – 1.4m wide) with a maximum grade of 0.4 g/t gold (Au) over a one-metre interval, the company said.

9.00am: OKYO Pharma higher after receiving ocular pain treatment patent

OKYO Pharma Limited (LON:OKYO) climbed 6.9% to 9.75p after it was issued a US patent.

The biotechnology company focused on the development of novel drugs to treat inflammatory eye diseases and chronic ocular pain, said the patent, entitled "Compounds and Methods for Treating Pain" was issued by the United States Patent and Trademark Office on January 26, 2021.

This patent covers a class of bovine adrenal medulla peptides linked to specific lipids that demonstrate the potential for treating symptoms of neuropathic pain, ocular pain, ocular inflammation and/or dry eye disease.

i3 Energy PLC (LON:I3E) soared 24% to 7.23p after an operational update covering the three months to the end of January.

The independent oil and gas company said production remained predictably stable, averaging 9,150 barrels oil equivalent per day in the period.

The company, which in 2020 acquired production assets in Canada to add to its undeveloped North Sea portfolio, said the assets continue to perform at or above expectations.

Proactive news headlines

Feedback PLC (LON:FDBK) said it is seeing an improvement in the pace of negotiations with the National Health Service over the use of its Bleepa product.

World High Life PLC (LON:LIFE) (OTCQB:WRHLF) said its subsidiary cannabidiol (CBD) brand Love Hemp Limited has submitted its novel food dossier to the UK’s Food Standards Agency (FSA).

OKYO Pharma Limited (LON:OKYO) has been issued a patent for a potential new class of non-opioid analgesics being developed to treat symptoms of neuropathic pain, ocular pain, ocular inflammation and/or dry eye disease.

Crossword Cybersecurity PLC (LON:CCS) said it has signed an agreement with the University of Glasgow (UOG) to support its privacy risk and compliance (PRC) project by creating a new software product aimed at privacy governance. The AIM-listed firm said it will help to design, market test and build the software, which will ultimately be owned by a newly formed separate UOG spin-off business.

Sunrise Resources PLC (LON:SRES) said a 500 tonne sample of pozzolan that was shipped to a large cement and ready-mix company is due to be ground by the end of March and then used in a number of commercial concrete pours. Meanwhile, at the Bakers Gold Project in Australia, Sunrise is moving ahead with plans to drill, with a rig booked for a drill start at the end of March.

Strategic Minerals PLC (LON:SML)(USOTC:SMCDY) is beginning a trenching and auger exploration program to investigate the possible presence of extensions of mineralisation up to 1,000 metres to the west of the presently established resource at the Redmoor project in Cornwall. Multiple prospective targets for tin and copper have been identified as a result of a review of historic exploration data to the west of the Redmoor deposit. 

British Lithium Ltd (PRIVATE:BLL) has embarked on its fourth and largest round of drilling to date. The aim is to define the extent of the lithium carbonate resource already identified in previous exploration work last year.

Bezant Resources PLC (LON:BZT) has started target testing for its maiden drill programme at the Kalengwa exploration project area in Zambia. The 800m programme at Kalengwa will test the first two priority exploration targets for copper, based on a review of extensive historic exploration datasets

88 Energy Ltd (LON:88E) has highlighted that the Merlin-1 exploration well, in the Peregrine project area in Alaska, is due to spud in early March. The well is targeting a prospect that’s estimated to host some 645mln barrels of oil.

i3 Energy PLC (LON:I3E, TSE:ITE) told investors that production remains predictably stable, averaging 9,150 barrels oil equivalent per day in the period from November 2020 to January 2021.

Mosman Oil & Gas Ltd (LON:MSMN) reported total production of 34,569 barrels of oil equivalent (boe) for the six months to end-December. Of this, 9,871 net boe was attributable to the AIM-listed company.

NQ Minerals PLC (LON:NQMI)(OTCQB:NQMLF) announced that it is expected to qualify for London Stock Exchange's Green Economy Mark at admission.

MaxCyte Inc’s (LON:MXCT) chief executive, Doug Doerfler, is presenting to two virtual events next month. On March 1, from 1.20 pm ET, he will address the online audience of Cowen's 41st Annual Health Care Conference. Then it is on the H.C. Wainwright & Co Global Life Sciences Conference on March 9-10.

finnCap Group PLC (LON:FCAP) said it has appointed Oberon Capital, part of the Oberon Investments Group Plc, as joint broker with immediate effect.

Add related topics to MyProactive

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

NO INVESTMENT ADVICE

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...

FOR OUR FULL DISCLAIMER CLICK HERE

Metal Tiger on Kitlanya East copper-silver project progress and oncoming...

Metal Tiger PLC's (LON:MTR) Michael McNeilly catches up with Proactive London's Katie Pilbeam after reporting progress at the Kitlanya East copper-silver project in Botswana, operated by Kalahari Metals Ltd (KML). McNeilly explains the potential for the South Fold target to host copper-silver...

1 day, 11 hours ago

7 min read