Cypress Development Corp has made further progress on a number of initiatives, including pilot plant testing of chloride leaching of claystone material and the commencement of the Clayton Valley feasibility study (FS), analysts at Couloir Capital said as they reiterated their ‘Buy’ rating on the company. In a note, the analysts wrote that the company’s pilot plant has yielded positive results and it has proven in continuous operating runs at the pilot plant that its previously acquired direct lithium extraction (DLE) processing IP (intellectual property) leads to high lithium recoveries with minimal impurities. Based on their analysis and valuation models, the Couloir analysts said they are also updating their fair value per share estimate to C$5.30 per share, from C$4.04 per share. The analysts said the completion of FS work on the Clayton Valley lithium project in Nevada is likely to represent a major catalyst for the company and potentially its valuation.
Murchison Minerals Ltd said it has completed its previously-announced C$5.35 million non-brokered private placement, which included the participation of strategic investor Michael Gentile and the company’s largest shareholder Donald Johnson. The exploration company said proceeds from the offering will be directed towards exploration at its 100%-owned HPM nickel-copper-cobalt property in Quebec, as well as working capital and administrative expenses. “This is truly an exciting time for the company as we are preparing to move forward with our summer drill program at our HPM nickel-copper-cobalt project in Quebec - where our focus will be on developing the Barre de Fer Zone towards a maiden resource and developing a robust portfolio of high-priority, de-risked targets for future drilling,” Murchison Minerals CEO Troy Boisjoli said in a statement.
Wellteq Digital Health Inc announced that Andrea Johnson has resigned as a company director for personal family and health reasons. “We want to thank Andrea Johnson for her dedicated service and wish her the best in her future endeavours,” Wellteq Digital Health CEO Scott Montgomery said in a statement.
DGTL Holdings Inc. (TSX-V:DGTL, OTCQB:DGTHF) said it has initiated a strategic restructuring of its wholly-owned subsidiaries, Hashoff LLC and Engagement Labs Inc, as part of plans to reposition the company for scalable revenue growth and long-term shareholder equity. The company said it expects to divest $5,000,402 in liabilities and operating expenses from the restructuring, which will turn it cashflow positive in the near term. “Within the first 120 days under the leadership of the new DGTL executive team, the company has proactively divested over $3,234,743 in current and non-current liabilities and an additional $1,891,500 in annual operating expenses totalling an estimated first year reduction of $5,000,402 in long-term debt and on-going operating expenses,” the Vancouver-based company said.
Sassy Resources (CSE:SASY, OTCQB:SSYRF) Corporation has delivered an update as it mobilizes crews to its 100%-owned Foremore Project in Northwest British Columbia to start drilling at the Westmore Gold Discovery. Over the coming weeks, the firm will change its name to Sassy Gold Corp. to better reflect its renewed focus on the flagship Foremore high-grade gold project. Sassy’s trading symbols on the CSE, OTCQB and Frankfurt stock exchanges will remain unchanged and there will be no changes to the company’s capital structure. “The rebranding of Sassy Resources to Sassy Gold is a natural step given the growing significance of Foremore and our direct exploration opportunity within one of the world’s premier gold camps,” Mark Scott, Sassy CEO said in a statement. “Foremore provides exciting and immediate upside potential for shareholders while our long-term value proposition has never been better with our significant equity stake in the Newfoundland Gold Rush (Gander Gold and Galloper Gold) and our investment in MAX Power Mining.”
Looking Glass Labs Ltd (LGL) said its wholly-owned design studio House of Kibaa (HoK) has published its Decentralized Metaverse Technical Vision (DMTV) on Friday, July 1, 2022, via upload to Discord. The 10-page document demonstrates HoK’s purpose and lays out the NFT-based and metaverse-related products that it is building to solve known problems and meet the needs of community members. “Publishing the Decentralized Metaverse Technical Vision document is critical at this stage of HoK’s evolution because it provides our community members with a clear plan and helps them know what to expect from the studio in the near future," LGL CEO Dorian Banks said in a statement. "LGL is a company that prides itself on adding value to the Web3 environment by driving innovation forward in the form of NFTs and the metaverse as well as incorporating feedback from our stakeholders, which is very important in order to maintain trust and a strong reputation."
PlantX Life Inc has announced a new partnership with Dream Pops as the latest marketing tenant at its multi-brand pop-up retail initiative, the Vegan Popup by XMarket. Located in PlantX’s retail store in Venice Beach, California, the pop-up was launched in April after a successful pilot tenancy program promoting PlantX partner brands. Dream Pops is a leading frozen novelty company that manufactures plant-based, low-calorie pops and bites.
Sonoro Gold Corp (TSX-V:SGO, OTCQB:SMOFF) said it has closed an oversubscribed, non-brokered private placement of 20,050,000 units at $0.15 per unit, for aggregate gross proceeds of $3 million. The net proceeds from the offering will be used to fund the ongoing development of a proposed heap leach mining operation at the company's Cerro Caliche gold project in Sonora, Mexico. "We are pleased with the reception this financing has received from investors as it allows us to continue with the development of the Cerro Caliche gold project,” Sonoro's president and CEO Kenneth MacLeod said in a statement.
Electric Royalties Ltd (TSX-V:ELEC, OTC:ELECF) announced that Stefan Gleason, a private investor, is filing an early warning report in connection with his acquisition of shares of Electric Royalties Ltd. On June 30, Gleason purchased 1,138,750 shares via the OTCQB (at a cost of C$223,717.71, or an average of $0.196 per share), taking his interest above the 10% reporting threshold. Gleason now beneficially owns or has control or direction over 9,848,729 shares and 500,000 warrants, representing approximately 11.24% of the issued and outstanding shares on an as converted and partially diluted basis. "I am pleased to increase investment in what I believe to be an undervalued company having the benefit of cash in the bank and a first-mover advantage in the electric metals royalty space," said Gleason. "Company management has demonstrated savvy, win-win deal-making abilities and communicates transparently to shareholders and the markets about the company's ongoing progress. I expect to acquire additional shares over time."
Nevada Copper Corp has unveiled a proposed financing package, which would allow the company to maintain its Pumpkin Hollow underground mine. The miner has agreed non-binding terms with its senior lender KfW IPEX-Bank (KfW) and its largest shareholder Pala for a loan of up to US$70 million via a new tranche extension to its existing senior credit facility with KfW. Pala would provide the funds with the potential participation of other lenders. The firm said US$50 million of the total will be committed by the lenders (including the outstanding amount of the previously announced up to US$20 million promissory note provided by Pala), while US$20 million may be available for future drawdown.
Canaccord Genuity has repeated a 'Speculative Buy' on O3 Mining Inc following the company's release of latest drill assays from the Camflo extension deposit at the Marban project in Val-d'Or, Quebec. In all, 6,338 metres (m) were sunk in two holes and three wedges on the extension as part of the work, which tested the depth extensions of the historic Camflo deposit and additional high-grade zones. Among the highlight assays were from a hole, which returned 1.1 grams per ton (g/t) gold over 94.3m starting from 1,258.9m depth. Within that, there was a high-grade interval of 13.8 g/t of the yellow metal over 1.1m. All holes and wedges returned large mineralized intervals within the Camflo Plug, 03 had reported. "Camflo is a historic mine that lies immediately west of the Marban property and is currently owned by the Canadian Malartic Joint Venture. The mine produced 1.89Moz of gold at 5.71g/t when it was operated by Barrick, however, production was halted in 1992 due to the low gold price environment," the Canaccord analysts noted.
Information Services Corporation (ISC) has told investors that it has appointed Susan Bowman as head of Enterprise Registry Solutions Limited (ERS), a subsidiary of ISC, effective today, July 4, 2022. Under Bowman's leadership, ERS is expected to enhance its business development, growth, and performance as well as elevate the development of new registry and registry-related products and services, the company said. "I am very pleased to welcome Susan to the team,” ISC president and CEO Shawn Peters said in a statement. “This appointment is further to our announcement earlier in the year about leadership changes.”
Bioharvest Sciences Inc said it has granted a total of 1.36 million stock options to consultants and employees. The stock options granted are exercisable to purchase a common share of the company at a price of 24 cents per share for a term of 10 years and will vest over periods ranging from two months to two-and-a-half years, with the largest percentage starting to vest from January 4, 2023. Dr Zaki Rakib, a director of the company, has also agreed to cancel a total of 4,343,800 stock options previously issued to him on March 23, 2021, Bioharvest added. It said it now has more available options to attract and retain future employees, consultants, directors and officers by affording them the opportunity to acquire an interest in the company through options granted under the incentive option plan.
i-80 Gold Corp has announced that it has filed a preliminary short form base shelf prospectus with securities regulatory authorities in Canada and a corresponding shelf registration statement on Form F-10 with the US Securities and Exchange Commission (the SEC) under the US/Canada Multijurisdictional Disclosure System. The company said that the registration statement filed with the SEC has not yet become effective. No securities may be sold, nor may offers to buy be accepted before it does, it added. ”The filing of the base shelf prospectus is a routine filing that fulfills a contractual obligation related to a previously completed financing arrangement,” chief financial officer Ryan Snow said in a statement. “The company currently has a robust cash and restricted cash balance of approximately US$130 million and we are not actively raising new capital at this time."
SWMBRD Sports Inc (CSE:SWIM) has announced that, further to its News Releases of June 2, 2022, and June 13, 2022, 19 eligible warrant holders participated in the company's warrant incentive program and exercised an aggregate of 3,001,500 warrants for aggregate proceeds to the company of $300,150. To induce the early exercise of the warrants, the company issued an aggregate of 3,001,500 incentive warrants to the eligible holders. The incentive warrants are exercisable into the same number of common shares of the company at an exercise price of $0.12 per common share until June 29, 2027. Proceeds received from the exercise of warrants will be used by the Company for general working capital purposes. The incentive warrants and the common shares issuable upon exercise of the incentive warrants are subject to a four-month and a day hold period from the date of the issuance under applicable Canadian securities laws