Canada-focused uranium juniors have welcomed news this week that the government has pledged C$970 million to develop a grid-scale small modular reactor (SMR) in the country as a key part of the administration's strategy to cut carbon emissions.
On October 25, it was announced that the new reactor - the first commercial scale SMR in the G7 - will be developed by utility giant Ontario Power Generation (OPG), which already provides around half of all electricity in the province of Ontario. The nuclear reactor will be located in the township of Darlington.
Endeavour Mining PLC said it is saddened to report that a contractor colleague passed away on Thursday, October 25, 2022, as a result of injuries sustained in an incident that occurred during blasting activities at the Ity mine in Cote d'Ivoire. The company said the health, safety and welfare of colleagues are its top priority and it is deeply saddened by this news and extends its sincere sympathies and support to his family, colleagues and friends. Endeavour said it will conduct a comprehensive internal investigation into the incident and will work closely with the relevant local authorities. Processing activities continued while mining operations were temporarily halted on-site, and all operations have now resumed, it added.
The Valens Company Inc said it has mailed its management information circular and related documents for the special meeting of Valens shareholders in connection with the previously announced plan of arrangement under Section 192 of the Canada Business Corporations Act (the CBCA) whereby SNDL Inc. will acquire all of the issued and outstanding common shares of the company, and, in return, Valens shareholders will receive, for each Valens share held, 0.3334 common share of SNDL. The materials mailed in connection with the Meeting can also be found under the company's profile on SEDAR (http://sedar.com) and on EDGAR (www.sec.gov) as well as on Valens' website at www.thevalenscompany.com/special-meeting/. The SNDL shares to be issued to Valens Shareholders represents an implied value of $1.26 per Valens Share, based on the August 19, 2022 close of the SNDL shares on the Nasdaq Capital Market exchange. On completion of the arrangement, former Valens shareholders are expected to hold approximately 9.5% of the outstanding SNDL shares.
BioPorto A/S has announced that it will showcase its NGAL biomarker for acute kidney injury (AKI) research (clinical chemistry assay, ELISA kits, and antibodies) at booth #2734 during the world’s premiere nephrology conference, ASN Kidney Week, November 2-6, 2022, in Orlando, Florida. BioPorto’s exhibition follows the June 2022 announcement that BioPorto achieved targeted subject enrollment for the third part of a 3-part clinical study to support a US Food and Drug Administration (FDA) De Novo submission for use of a neutrophil gelatinase-associated lipocalin (NGAL) test designed to assess the risk of moderate/severe Acute Kidney Injury (AKI) in critically ill patients (3 months to 22 years) in the first 24 hours of ICU admission. As previously announced, based on the quality of the clinical data and other material to support the desired claims, BioPorto anticipates submission of its De Novo application to the FDA by the fourth quarter of 2022. The NGAL Test is CE marked and available for in vitro diagnostic use in the European Union; registered in several countries, and available for Research Use Only in the United States. The NGAL biomarker is one of six urinary biomarkers in the FDA's Center for Drug Evaluation and Research’s (CDER) kidney safety composite measure. CDER encourages safety biomarkers for monitoring drug-induced renal tubular injury in early clinical drug development. Interested parties can meet with BioPorto at booth #2734 during Kidney Week 2022.
Vyant Bio Inc has announced its participation at the 2022 CDKL5 Forum Hosted by the Loulou Foundation on November 7 and 8, 2022, in Boston, Massachusetts, through platform and poster presentations. The platform talk and poster presentation is titled 'High-throughput functional screening to develop novel therapies for CDKL5-deficiency disorder using human iPSC-derived cortical organoids', authored by Matthew V. Green, Tori Alstat, Huda Ahmed, Kendra Prum, Cassiano Carromeu, Andrew LaCroix, Robert T. Fremeau Jr, and will take place at the Molecular and Cellular Function session on November 7, at 11.35am EDT. In addition, Vyant Bio will participate in a CDKL5 deficiency disorder scientific workshop on Monday October 31, 2022, from 1.00pm-4.00pm EDT and will present an industry perspective for the best practices for the use of human induced pluripotent stem cell (iPSC) derived brain organoids in drug discovery research.
Prospector Metals Corp has announced the appointment of Alex Heath, as chief financial officer of the company. Heath has a B.Com. with honours from the University of British Columbia and is a CFA Charterholder and is the current president, CEO and a director of Prospector Metals. The company said its board of directors thanked outgoing CFO, Robert Scott, for his services and wishes him success in his other current endeavours.
ORAGIN Foods Inc announced that it has received Notices of Default from the holders of convertible debentures issued on October 25, 2019, which matured on October 25, 2022. ORAGIN said it and the holders of the debentures have been in discussions leading up to the maturity date, however the holders provided the notices yesterday evening. Pursuant to the terms of the debentures, the company now has 10 business days, the last such day being November 10, 2022, to remedy the default and, if ORAGIN does not do so by the end of the cure period, at that point a technical event of default will have occurred. The holders are unsecured creditors. As well, the company noted that it intends to continue discussions with the holders and is also continuing to evaluate options that would allow for the repayment of the debentures.
New Age Metals Inc said it has decided to delay release of the River Valley Palladium Project prefeasibility study, in order to enable confirmation and optimization of critical project options and development of a more indicative value of the project. Project options under review include increased underground mining, mine plan and mineral processing enhancements, tailings management alternatives, and converting and extending mineral resources, among others, which offer additional flexibility and potential for better economics. In addition, current price volatility due to inflationary pressure and economic uncertainty has made it difficult to obtain suitable long-term cost quotes for site equipment and infrastructure systems from potential vendors. Subject to the determination of the above options and stabilization of the economic climate, NAM plans to finalize the River Valley Project PFS. An update on when the PFS is anticipated to be completed will be provided before the end of Q1 2023.
MAS Gold Corp announced that it will be presenting at Red Cloud's 2022 Fall Mining Showcase and the company is inviting its shareholders and all interested parties to attend. The annual conference will be hosted in-person, at the Sheraton Centre Toronto Hotel from November 9-10, 2022. MAS Gold CEO and Director Jim Engdahl will be presenting on November 10 at 2:20PM Eastern Standard time. For more information and/or to register for the conference please visit: https://redcloudfs.com/fallminingshowcase2022/.