VANCOUVER, British Columbia, Dec. 11, 2019 (GLOBE NEWSWIRE) -- Triumph Gold Corp., (TSX-V: TIG) (OTCMKTS: TIGCF) (“Triumph Gold” or the “Company”) is pleased to announce results from RVD19-05, RVD19-06 & RVD19-07, the final three holes of the 2019 drill campaign on its 100% owned, 200 km2, road accessible Freegold Mountain Property in the Yukon Territory.
Triumph Gold President, Tony Barresi (Ph.D., P.Geo.), comments: “We are now even more convinced that a buried gold-rich porphyry system exists beneath the six kilometre long Revenue-Nucleus soil anomaly. Having completed seven of the deepest holes ever drilled on the property, we now have additional compelling evidence of a buried porphyry in each of the three areas tested, including long intersections of high-grade copper-gold mineralization, bonanza grade gold mineralization, an interpreted cupola (uppermost mineralized portion) of a causative intrusion beneath the WAu breccia, and clasts scavenged from another mineralized cupola 700 metres away in the Revenue Diatreme.”
Technical Highlights Include:
- Intersection of high-grade gold mineralization in the WAu Breccia: 174 grams per tonne (g/t) gold (Au) and 43 g/t silver (Ag) over 1 metre* (m) in RVD19-06 from 391.00 – 392.00m (Table 1)
- Intersection of three porphyry related mineralized zones in RVD19-06 (Table 1) at the WAu Breccia, demonstrating continuity of two, greater than 200m deep, mineralized bodies that were first intersected earlier this year in RVD19-02:
- Hangingwall Porphyry (80.50m* of 0.66 g/t AuEq** from 60.00 – 140.50m)
- WAu Breccia (43.00m* of 0.98 g/t AuEq** from 391.00 – 434.00m, using a top-cut of 10 g/t Au, and 88.34m* of 0.57 g/t AuEq** from 453.00 to 541.34m)
- Magnetite-chalcopyrite breccia in strongly potassic altered granite (36.21m* of 0.44 g/t AuEq** from 637.97 – 674.00m)
- Verifying a high grade near surface oxide and supergene zone with RVD19-07 (Table 1), which collared along the south-central contact of Revenue Diatreme (12.00m* of 2.35 g/t AuEq* from 24.00 to 36.00m), and extending the known depth of mineralization below that zone from 63.70m (historical drill hole GRS84-07) to 147.50m (124.50m* of 0.57 g/t AuEq** from 23.00 to 147.50m in RVD19-07)
- Multiple geological features indicating presence of, or proximity to, mineralized cupola(s) of a buried porphyry intrusion at both the WAu Breccia and Revenue West
Table 1: Highlighted Results from RVD19-06 & RVD19-07
Next step in Xebec’s acquisition strategy to provide North American service for its Cleantech Systems and Installations
MONTREAL, Dec. 10, 2019 (GLOBE NEWSWIRE) -- Xebec Adsorption Inc. (TSXV: XBC) (OTC: XEBEF) (“Xebec”), a global provider of clean energy solutions is pleased to announce that Xebec Holding USA Inc, a wholly-owned subsidiary of Xebec Adsorption Inc., has entered into an agreement and effective December 10th, 2019, to acquire through a cash purchase all of the outstanding securities of CDA Systems LLC (“CDA”). CDA’s principals will remain with CDA after the acquisition to optimize their integration into Xebec’s industrial service and grow the business over the coming years.
CDA Systems is a leading distributor and service provider of Oil-Free Air Compressors, Air Dryers, and Filtration Systems in California’s San Francisco Bay Area. CDA designs, sells, rents, and maintains Clean Dry Air systems and, with decades of industry experience under their belt, have supported major manufacturers with numerous equipment installations. These have included value engineered solutions supporting compression, dehydration, CNG, and other specialty gases, with a goal of achieving energy cost savings and utility rebates.
This acquisition follows on the recent news that Xebec has signed a Letter of Intent with Maas Energy Works to provide four small-scale, containerized biogas upgrading units in California. These BiostreamTM units will support the production of renewable natural gas from biogas streams generated from animal waste on small dairy farms located throughout California.
“The CDA purchase continues Xebec’s strategic journey to provide local, customer-centric service, support and operations capabilities for our cleantech and renewable gas segment. This is a critical component to our value proposition, and a key advantage to choosing Xebec for biogas upgrading projects. To be worry-free is important to customers and knowing that experienced local service and support is available delivers that peace of mind.”
– Kurt Sorschak, President and CEO, Xebec Adsorption Inc.
Xebec’s industrial service and products segment has long been a solid contributor to the overall growth and profitability of the company, generating a significant amount of recurring revenue through the sale of parts and services. With the addition of Service Centers throughout North America, Xebec aims to become the leading renewable gas systems service and support provider, offering the unique service advantage of local support for nation-wide biogas to renewable natural gas projects.
For more information:
Brandon Chow, Investor Relations Specialist, Xebec Adsorption Inc
About Xebec Adsorption Inc.
Xebec Adsorption Inc. is a global provider of gas generation, purification and filtration solutions for the industrial, energy and renewables marketplace. Its customers range from small to multi-national corporations and governments looking to reduce their carbon footprints. Headquartered in Montreal (QC), Xebec designs, engineers and manufactures innovative and transformative products, and has more than 1,500 customers worldwide. Xebec has two manufacturing facilities in Montreal and Shanghai, as well as a sales and distribution network in North America, Europe and Asia. Xebec trades on the TSX Venture Exchange under the symbol XBC. For additional information on the company, its products and services, visit Xebec at xebecinc.com.
About CDA Systems LLC
CDA Systems is a leading distributor of Oil-Free Air Compressors, Air Dryers, and Filtration Systems in the California’s San Francisco Bay Area. They design, sell, rent, and maintain Clean Dry Air systems as well as Process Vacuum, POU Filtration, and Instrumentation & Automation related to critical air processes. The Industry sectors served include Pharmaceutical, Microelectronics, Refinery, Food & Beverage, R&D and Manufacturing.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release contains forward-looking statements and forward-looking information (together, “forward-looking statements”) within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements, and subject to risks and uncertainties. Generally, forward-looking statements can be identified by the use of terminology such as “plans”, “seeks”, “expects”, “estimates”, “intends”, “anticipates”, “believes”, “could”, “might”, “likely” or variations of such words, or statements that certain actions, events or results “may”, “will”, “could”, “would”, “might”, “will be taken”, “occur”, “be achieved” or other similar expressions. Forward-looking statements, including statements concerning the expectations of management of Xebec with respect to information regarding the business, operations and financial condition of Xebec resulting from CAI’s acquisition and other potential mergers and acquisitions opportunities involving potential targets in the industrial business segments, involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements are subject to business and economic factors and uncertainties, and other factors that could cause actual results to differ materially from these forward-looking statements, including the relevant assumptions and risks factors set out in Xebec's public documents, including in the most recent annual management discussion and analysis and annual information form, filed on SEDAR at www.sedar.com. Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. These risks, uncertainties and other factors include, among others, Xebec’s capacity to successfully integrate CAI in its industrial products segment and to generate revenue growth as a result of CAI’s acquisition and other factors. Although Xebec believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, Xebec disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Vancouver, British Columbia--(Newsfile Corp. - December 10, 2019) - International Zeolite Corp. (TSX.V: IZ) (OTC Pink: IZCFF) (FSE: ZEON) (the "Company") reports that at its annual general and special meeting held on December 9, 2019, the Company's shareholders approved by over a 95% majority to elect all four directors standing for re-election; to appoint SDVC LLP as auditors of the Company for the fiscal year ending June 30, 2020 and authorized the directors to fix the auditors' remuneration. The Company's Stock Option Plan was also re-approved by a 94% majority.
Mr. Ray Paquette CEO states "I am very pleased with the positive outcome of this year's AGM and would like to thank the shareholders who took the time and interest to vote their proxies. The Company has shown substantial increases in sales and gross margins, while focusing on reducing costs for the past two fiscal years. Our discussions at the AGM were very proactive and focused on how we can continue to improve our business through marketing and by putting more boots on the ground to get direct contact with our current and potential new clients and distributors."
On Behalf of the Board
President & CEO
Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to future expenditures. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the ability to complete contemplated work programs and the timing and amount of expenditures. International Zeolite does not assume the obligation to update any forward-looking statement.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/50684
VANCOUVER, Dec. 10, 2019 /CNW/ - Metalla Royalty & Streaming Ltd. ("Metalla" or the "Company") (TSXV: MTA) (OTCQB: MTAFF) announced today that it has applied to list its common shares on the NYSE American, LLC ("NYSE American"). Metalla's common shares will trade on the NYSE American under the ticker symbol "MTA" and a trading date for the listing will be announced once all regulatory requirements are satisfied. The listing of Metalla's common shares remains subject to the approval of the NYSE American and the satisfaction of all applicable listing and regulatory requirements.
Metalla's President and Chief Executive Officer, Brett Heath, commented: "Listing on the NYSE American represents a significant milestone in the growth of the Company. The listing will materially increase Metalla's exposure to a larger and more diverse group of institutional and retail investors as we continue to grow our portfolio of precious metals royalties and streams. The share consolidation allows for Metalla to meet the minimum requirements for the NYSE American, which we believe will improve trading liquidity and expand our globally diverse shareholder base."
Share Consolidation to satisfy NYSE American Listing Requirements
In connection with the planned listing on the NYSE American, the Company is implementing a consolidation of its outstanding common shares. The Company's board of directors has determined that the consolidation will be effected on the basis of one new common share for every four currently outstanding common shares (the "Consolidation") The Consolidation will take effect on or about December 17, 2019 (the "Effective Date") and the Company's common shares are expected to commence trading on the TSX Venture Exchange on a post-Consolidation basis beginning at the open of markets on or about December 19, 2019. There are currently 135,160,667 common shares issued and outstanding, and it is expected that there will be 33,790,167 common shares issued and outstanding following the Consolidation, subject to rounding for any fractional shares. No fractional shares will be issued as a result of the share Consolidation. Fractional interests of 0.5 or greater will be rounded up to the nearest whole number of shares and fractional interests of less than 0.5 will be rounded down to the nearest whole number of common shares.
Effect of the Consolidation on Registered and Beneficial Holders
Registered shareholders holding share certificates will be mailed a letter of transmittal advising of the share consolidation and instructing them to surrender their share certificates representing pre-Consolidation common shares for replacement certificates representing their post-Consolidation common shares. Until surrendered for exchange, following the effective date of the Consolidation, each share certificate formerly representing pre-Consolidation common shares will be deemed to represent the number of whole post-Consolidation common shares to which the holder is entitled as a result of the Consolidation.
Holders of common shares of the Company who hold uncertificated common shares (i.e., common shares held in book-entry form and not represented by a physical share certificate), either as registered holders or beneficial owners, will have their existing book-entry account(s) electronically adjusted by the Company's transfer agent or, for beneficial shareholders, by their brokerage firms, banks, trusts or other nominees that hold in "street name" for their benefit. Such holders do not need to take any additional actions to exchange their pre-Consolidation common shares for post-Consolidation common shares.
Beneficial shareholders holding their common shares through a bank, broker or other nominee should note that such banks, brokers or other nominees may have different procedures for processing the Consolidation than those that have been put in place by the Company for registered shareholders. If you hold your common shares with such a bank, broker or other nominee and if you have questions in this regard, you are encouraged to contact your nominee.
Effect of the Consolidation on the payment of Dividends
Further to the Company's press release dated November 26, 2019, Metalla has announced a monthly dividend payment on its common shares for January and February 2020. In order to maintain the same aggregate pre consolidation dividend payment, following the effective date of the Consolidation, the per share dividend payment amount will be automatically adjusted such that the dividend payment amount will be $0.004 per share.
Metalla is a precious metals royalty and streaming company. Metalla provides shareholders with leveraged precious metal exposure through a diversified and growing portfolio of royalties and streams. Our strong foundation of current and future cash-generating asset base, combined with an experienced team gives Metalla a path to become one of the leading gold and silver companies for the next commodities cycle.
For further information, please visit our website at www.metallaroyalty.com
ON BEHALF OF METALLA ROYALTY & STREAMING LTD.
(signed) "Brett Heath"
President and CEO
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accept responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and U.S. securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law.
Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information include, but are not limited to, statements with respect to the timing, receipt of regulatory approval for, and completion of the Consolidation and listing of the Company's common shares on a U.S. stock exchange as well as statements relating to future trading liquidity and our future shareholder base, enhancement of Metalla's portfolio of precious metals royalties and streams,future cash generation, future dividends, and the potential for Metalla to become one of the leading precious metal royalty and streaming companies. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Metalla to control or predict, that may cause Metalla's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the requirement for regulatory approvals, exchange approval, and third party consents, risks and uncertainties related to obtaining regulatory approval and exchange approval in a timely manner, or at all, the impact of general business and economic conditions and other related risks and uncertainties including other risks and uncertainties disclosed under the heading "Risk Factors" in the Company's most recent annual information form, annual report on Form 40-F and other documents filed with or submitted to the Canadian securities regulatory authorities on the SEDAR website at www.sedar.com and the U.S. Securities and Exchange Commission on the EDGAR website at www.sec.gov. Metalla undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this press release are qualified by these cautionary statements.
SOURCE Metalla Royalty and Streaming Ltd.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/December2019/10/c6709.html
Contact Information: Metalla Royalty & Streaming Ltd., Brett Heath, President & CEO, Phone: 604-696-0741, Email: firstname.lastname@example.org ; Kristina Pillon, Investor Relations, Phone: 604-908-1695, Email: email@example.com ; Website: www.metallaroyalty.com
MONTREAL, Dec. 10, 2019 (GLOBE NEWSWIRE) -- Harfang Exploration Inc. (“Harfang”) (TSX-V: HAR) is pleased to report additional high-grade gold discoveries (up to 117 g/t Au in grab samples) on the Serpent Property (the “Property”) located in James Bay (Québec) (Figure 1). Gold was found in 6 new locations adding to previous discoveries for a total of 15 gold showings. These new results steming from the fall 2019 program are spatially associated to pluri-kilometric deformation corridors suggesting a strong structural control of the mineralization. The Corporation is actually elaborating its 2020 exploration program on the Property which is expected to begin by an induced polarization survey during winter in the surroundings of the Mista prospect.
- Discovery of new gold occurrences aligned into major structural corridors:
Anaconda West: Up to 117.00 g/t Au, 6.6 g/t Ag and 0.10% Pb
Anaconda East: 3.38 g/t Au
Couleuvre: 38.40 g/t Au
Reptile: 13.65 g/t Au
SER-19-RO-060: 1.25 g/t Au
SER-19-FH-159: 1.43 g/t Au.
New Gold Discoveries
Harfang completed another prospecting and geological mapping program in September 2019 on the Property once more confirming the occurrence of high-grade gold quartz veins in the surroundings of the Mista (Cu-Au-Ag) and Lawr (Au-Ag) prospects. Figure 2 shows a few examples of these gold-rich veins. Table 1 lists all grab samples with >1 g/t Au collected on outcrops during the fall program. Grab samples are selective by nature and are not necessarily representative of the mineralized zones. A total of 170 rock samples were collected from outcrops (grabs and channels) and glacial floats. Simultaneously, 125 till samples were collected in the southwestern quadrant of the Property in the vicinity of magnetic discontinuities possibly representing the extension of structural breaks containing gold-rich quartz veins. Results for these till samples are pending.
Table 1. Gold-bearing grab samples (≥1 g/t Au) collected during fall 2019.
NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.
MONTREAL, Dec. 09, 2019 (GLOBE NEWSWIRE) -- Xebec Adsorption Inc. ("Xebec" or the "Corporation") (TSXV:XBC) is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by Desjardins Capital Markets (the “Underwriters”) pursuant to which the Underwriters have agreed to purchase on a bought deal basis 9,524,000 common shares (the “Common Shares”) at a price of $2.10 per Common Share (the “Offering Price”) for aggregate gross proceeds to Xebec of $20,000,400 (the “Offering”).
The Corporation has granted the Underwriters an option, exercisable, in whole or in part, at any time until and including 30 days following the closing of the Offering, to purchase up to an additional 15% of the Offering at the Offering Price to cover over-allotments, if any. If the Over-Allotment Option is exercised in full, the total gross proceeds of the Offering will be $23,000,460.
The Common Shares will be offered by way of short form prospectus to be filed in each of the provinces of Canada and in the United States by way of private placement pursuant to the exemption from registration provided for under Rule 144A of the United States Securities Act of 1933, as amended, and in such other jurisdictions outside of Canada and the United States as are agreed to by the Corporation and the Underwriters, in each case provided that no prospectus, registration statement or other similar document is required to be filed in such jurisdiction and that the Corporation will not be or become subject to any continuous disclosure obligations in such jurisdiction.
The Corporation intends to use the net proceeds from the Offering to develop and invest in new renewable gas projects, to pursue strategic growth initiatives and for general corporate purposes.
The Offering is expected to close on or about December 27, 2019 (the "Closing Date") and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the TSX Venture Exchange and the applicable securities regulatory authorities.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been registered under the U.S. Securities Act of 1933, as amended, and applicable U.S. state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements thereunder.
For more information:
Xebec Adsorption Inc.
Sandi Murphy, Director, Investor Relations and Marketing
+1 450.979.8718 firstname.lastname@example.org
Kurt Sorschak, President and Chief Executive Officer
About Xebec Adsorption Inc.
Xebec Adsorption Inc. is a global provider of gas generation, purification and filtration solutions for the industrial, energy and renewables marketplace. Its customers range from small to multi-national corporations and governments looking to reduce their carbon footprints. Headquartered in Montreal (QC), Xebec designs, engineers and manufactures innovative and transformative products, and has more than 1,500 customers worldwide. With two manufacturing facilities in Montreal and Shanghai, as well as a sales and distribution network in North America, Europe, and Asia, Xebec trades on the TSX Venture Exchange under the symbol XBC. For additional information on the Corporation, its products and services, visit Xebec at xebecinc.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release. This news release contains forward-looking statements and forward-looking information (together, “forward-looking statements”) within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements and subject to risks and uncertainties. Generally, forward-looking statements can be identified by the use of terminology such as “plans”, “seeks”, “expects”, “estimates”, “intends”, “anticipates”, “believes”, “could”, “might”, “likely” or variations of such words, or statements that certain actions, events or results “may”, “will”, “could”, “would”, “might”, “will be taken”, “occur”, “be achieved” or other similar expressions. Forward-looking statements, including statements concerning the intended use of proceeds from the Offering and the expected closing date of the Offering, future capital expenditures, revenues, expenses, earnings, economic performance, indebtedness, financial condition, losses and future prospects as well as the expectations of management of Xebec with respect to information regarding the business and the expansion and growth of Xebec operations, involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements are subject to business and economic factors and uncertainties, and other factors that could cause actual results to differ materially from these forward-looking statements, including the relevant assumptions and risks factors set out in Xebec's public documents, including in the most recent annual management discussion and analysis and annual information form, filed on SEDAR at www.sedar.com. Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. These risks, uncertainties and other factors include, among others, the uncertain and unpredictable condition of the global economy, Xebec’s capacity to generate revenue growth, a limited number of customers, and other factors. Although Xebec believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, Xebec disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Not for Distribution to US Newswire Services or Dissemination in the United States
LONDON, Ontario, Dec. 09, 2019 (GLOBE NEWSWIRE) -- Indiva Limited (the “Company” or “Indiva”) (TSXV:NDVA) (OTCQX:NDVAF) is pleased to announce a strategic partnership with Dycar Pharmaceuticals Ltd. (“Dycar”) and a concurrent non-brokered unsecured convertible debenture financing of up to $4 million.
DYCAR PRODUCTION AND DISTRIBUTION PARTNERSHIP
Indiva has entered into a financing and white-label manufacturing arrangement with Dycar. Under the terms of the letter agreement, Dycar will provide Indiva with initial non-dilutive financing of $3.1 million, and Indiva will manufacture and distribute certain Dycar-branded cannabis products from the Company’s licensed facility in London, Ontario. The financing will be repaid by the deduction of Indiva services in kind to Dycar. The letter agreement may be renewed at the option of Dycar for a minimum of two additional terms, resulting in up to $4.5 million of additional non-dilutive financing. Indiva anticipates that it will begin the production of Dycar branded products in Q1 2020.
“We are delighted to add such a high-quality partner to our B2B platform,” Niel Marotta, President and Chief Executive Officer of Indiva, said. “Dycar and Indiva are very much aligned in our shared pursuit of delivering the very best products to market. We are very excited to begin working with the Dycar team and creating new products that meet and exceed customer and consumer expectations.”
Funding is expected to occur in mid-December 2019, subject to the satisfaction of customary conditions including the execution of definitive agreements and receipt of applicable third party approvals.
CONVERTIBLE DEBENTURE FINANCING
Indiva is also announcing a concurrent non-brokered unsecured convertible debenture financing of up to $4 million. The Company will issue debentures at a price of $1,000 per debenture with each debenture convertible into 5,000 Indiva common shares at a price of $0.20 per share. The debentures will receive 10% interest paid semi-annually, on June 30 and December 31, and will mature 36 months from the date of closing. The financing is expected to close on or around December 10, 2019, subject to the approval of the TSX Venture Exchange. Certain principals of Dycar are expected to participate in the financing.
Indiva’s family of cannabis brands set the standard for quality and innovation. Indiva aims to bring its exceptional portfolio of products to Canadians and cannabis enthusiasts around the world as laws permit. Indiva’s production facility, based in London, Ontario, includes a craft grow operation and an extraction and manufacturing space, which can process 70 tonnes of biomass annually and produce safe, high-quality, cannabis-infused edibles. In Canada, Indiva will produce and distribute Ruby® Cannabis Sugar, Sapphire™ Cannabis Salt and Gems™, as well as the award-winning Bhang® Chocolate, and other derivative products through licence agreements and joint ventures. Click here to connect with Indiva on social media and here to find more information on the Company and its products.
Vice President of Communications
DISCLAIMER AND READER ADVISORY
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has in any way passed upon the merits of the Transaction and neither of the foregoing entities accepts responsibility for the adequacy or accuracy of this release or has in any way approved or disapproved of the contents of this press release.
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the parties’ current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the Company's future operations, future product offerings and entry into additional markets, changes to laws and regulations in Canada and internationally, and compliance with applicable regulations. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the parties. The material factors and assumptions include the parties being able to obtain the necessary regulatory and other third parties’ approvals and licensing and other risks associated with regulated entities in the cannabis industry. The forward-looking information contained in this release is made as of the date hereof and the parties are not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.
OTTAWA, Dec. 09, 2019 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV:CGP) (Frankfurt:GWN) (Berlin:GWN) (OTC:CTNXF) announced today that it has agreed to settle C$672,890.52 of debt owing to legal advisors to the Company by issuing 283,920 common shares in the capital of the Company at a deemed price of C$2.37 per common share. The debt settlement transaction is subject to the approval of the TSX Venture Exchange and all common shares issued pursuant to the debt settlement transaction will be subject to a four-month statutory hold period.
Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including in the Cascabel gold-enriched copper porphyry joint venture in north west Ecuador.
Further information is available on Cornerstone’s website: www.cornerstoneresources.com and on Twitter. For investor, corporate or media inquiries, please contact:
Mario Drolet (Montreal); Email: Mario@mi3.ca;
Tel. (514) 346-3813
Due to anti-spam laws, many shareholders and others who were previously signed up to receive email updates and who are no longer receiving them may need to re-subscribe at http://www.cornerstoneresources.com/s/InformationRequest.asp
On Behalf of the Board,
President and CEO
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Mineralized Outcrops and Boulder Field with Grades Up to 20.1% Cu and 13.4 g/t Au along a 5.5 km by 0.5 km Corridor
LONGUEUIL, QC, Dec. 9, 2019 /CNW Telbec/ - Azimut Exploration Inc. ("Azimut" or the "Company") (TSXV: AZM) is pleased to report the full results from the 2019 exploration program on the 20-kilometre-long Copperfield Trend identified on the Pikwa Property (the "Property") in the James Bay region of Quebec (see Figures 1 to 5).
The encouraging results from 2019 include the discovery of high-grade mineralized outcrops and proximal boulders (up to 20.1% Cu and up to 13.45 g/t Au) that correlates with a 5.5-kilometre-long copper soil anomaly. These results warrant a substantial follow-up program that will comprise ground geophysics (induced polarization) and a maiden diamond drilling program in early 2020.
The Property is part of the James Bay Strategic Alliance (the "Alliance") between Azimut and SOQUEM Inc. ("SOQUEM"), a subsidiary of Ressources Québec. Major developments of the Alliance were disclosed in the Company's press release of May 15, 2019. Azimut is the operator of the Alliance.
The Property was acquired in 2016 following systematic gold predictive modelling over the James Bay region (176,300 km2 surface area) using the Company's AZtechMineTM expert system.
New Prospecting Results
In addition to the results already disclosed in the press releases dated October 16 and October 23, 2019, a final batch of 169 grab samples yielded excellent results from the Copperfield Trend. The best 30 samples from this batch returned the following grades from outcrops (o) and boulders (b):