4:05pm: Rock Tech Lithium, LexaGene gains accelerate late afternoon
Rock Tech Lithium Inc (TSXV:RCK) shares climbed 29% to close at $3.73 on Thursday after the pending producer of lithium hydroxide for EV batteries said it has entered into a definitive supply agreement with Mercedes-Benz AG to provide an average of 10,000 tonnes of battery-grade lithium hydroxide per year.
The company noted that over a five-year term of the agreement and an initial ramp-up period, the deal represents a roughly total estimated sales volume of about C$2 billion and more than 40% of the expected annual production from Rock Tech's planned converter capacity in Guben, Germany.
As well, shares of NG Energy International Corp (TSXV:GASX) gained 9% to $0.89 as the oil and gas junior announced the successful drilling of the Brujo-1x well in Colombia at a final total depth of 8,019 feet in the Lower Magdalena Basin, located within the SN-9 Block, encountering 680 feet of net gas bearing zone in the Cienaga de Oro formation and 103 feet in the Porquero formation, for a total of 783 feet of net gas pay.
LexaGene Holdings, Inc (TSXV:LXG), meanwhile, reported that it has signed a statement of work with the same biopharma company that purchased a MiQLab System for automated genetic testing last week.
The molecular diagnostics company CEO said, “if the data generated during this validation study meets this biopharma company’s needs, and our technology is adopted for in-process testing, we believe a single manufacturing plant would generate millions of dollars in revenue annually for LexaGene.” LexaGene stock popped 43% to $0.20 following the announcement.
In addition, shares of Sona Nanotech Inc (CSE:SONA) added 60% at $0.12 as the nanotechnology life sciences firm said it has entered into an agreement to supply certain gold nanorod material to Siva Therapeutics, Inc, a developer of advanced, 'in-vivo' therapies for treating cancer. The company noted that its Targeted Hyperthermia cancer Therapy (THT) has completed successful small animal studies for THT and is preparing to undertake large animal studies in 2023 before beginning human clinical trials for colorectal and possibly other cancer tumors.
And, Hillcrest Energy Technologies (CSE:HEAT) shares rose 7% to $0.145 after the clean technology company revealed that it has signed a memorandum of understanding (MoU) with a global Tier 1 automotive leader in mobility innovation, in which Hillcrest and the supplier will collaborate to integrate an optimized version of Hillcrest's 250-kilowatt (kW), 800-Volt (V) inverter into a future powertrain system.
The Vancouver, British Columbia-based company said the joint project is expected to run through 2023.
11:45am: Rock Tech Lithium, NG Energy powers higher
Rock Tech Lithium Inc (TSX-V:RCK) shares climbed 16% to $3.36 on Thursday after the pending producer of lithium hydroxide for EV batteries said it has entered into a definitive supply agreement with Mercedes-Benz AG to provide an average of 10,000 tonnes of battery-grade lithium hydroxide per year.
The company noted that over a five-year term of the agreement and an initial ramp-up period, the deal represents a roughly total estimated sales volume of about C$2 billion and more than 40% of the expected annual production from Rock Tech's planned converter capacity in Guben, Germany.
As well, shares of NG Energy International Corp (TSXV:GASX) gained 11% to $0.91 as the oil and gas junior announced the successful drilling of the Brujo-1x well in Colombia at a final total depth of 8,019 feet in the Lower Magdalena Basin, located within the SN-9 Block, encountering 680 feet of net gas bearing zone in the Cienaga de Oro formation and 103 feet in the Porquero formation, for a total of 783 feet of net gas pay.
LexaGene Holdings, Inc (TSXV:LXG), meanwhile, reported that it has signed a statement of work with the same biopharma company that purchased a MiQLab System for automated genetic testing last week.
The molecular diagnostics company CEO said, “if the data generated during this validation study meets this biopharma company’s needs, and our technology is adopted for in-process testing, we believe a single manufacturing plant would generate millions of dollars in revenue annually for LexaGene.” LexaGene stock popped 25% to $0.175 following the announcement.
And, Hillcrest Energy Technologies Ltd (CSE:HEAT, OTCQB:HLRTF) shares rose 11% to $0.15 after the clean technology company revealed that it has signed a memorandum of understanding (MoU) with a global Tier 1 automotive leader in mobility innovation, in which Hillcrest and the supplier will collaborate to integrate an optimized version of Hillcrest's 250-kilowatt (kW), 800-Volt (V) inverter into a future powertrain system.
READ: Hillcrest partners with Tier 1 automotive supplier; says its inverter technology to underpin future product
The Vancouver, British Columbia-based company said the joint project is expected to run through 2023.
Contact Sean at sean@proactiveinvestors.com