RNS Hotlist with Zak Mir: BOOM, GCAT, QTZ, ORPH, MSMN, CIZ, 88E, VAL, PPC, ALS, ROQ, MSYS & KIBO via Vox Markets

There were more booms than Basil Brush for podcaster Audioboom (BOOM) on media reports of interest from both Amazon and Spotify over the weekend.

By Zak Mir

Interestingly, the traditional rule is that if an Amazon bid story leaks, it pulls the deal. Perhaps not in this case. As far as Spotify is concerned, in the wake of the “commentator” Joe Rogan fiasco, it was always more likely that it would bid for BOOM, if only to solidify its position in the sector / distract attention. Estimates of Audioboom’s true value have ranged up to £80 from informed sources, so versus 1,752p on Friday, there would appear to be everything to play for as far as shareholders are concerned.

Caracal Gold (GCAT), the gold producer with operations in East Africa, confirms that is has raised aggregate gross proceeds of £2.0 million. The shares were acquired by a major shareholder of the company and strategic clients of Clear Capital Markets, the UK-based stockbroker and wealth manager. Clear Capital Markets will be appointed as joint broker with immediate effect. The funds raised will be used to finance Caracal’s accelerated development plan at its Kilimapesa Gold Mining and Processing Operations in Kenya and assist the company in its ability to increase mine production to 2000oz a month, which is targeting an increase in its production by 100%.

Quetzal Capital (QTZ) is pleased to present its unaudited half-year results for the six-month period ended 31 December 2021. Highlights here were a £1.5million investment into, and a call option to acquire, TAP Global Limited, a regulated fully integrated Crypto-Fiat exchange service provider with an associated neo banking platform. Net assets at year-end of were over £3million.

Open Orphan (ORPH), the specialist contract research organisation, announced that hVIVO, a subsidiary of Open Orphan, has recently launched the STRiVE project (Seasonal Transmissible Respiratory Virus SurvEy) to collect respiratory viral strains suitable for challenge agents from consenting hVIVO employees. Collection of new respiratory viral strains circulating in the community will allow hVIVO to continually update and broaden its world leading portfolio of human challenge study models. Since starting the project, hVIVO has identified over 180 promising virus candidates that could be used in the manufacture of novel challenge agents for its human challenge trials.

Mosman Oil and Gas (MSMN) the oil exploration, development and production company, announced that the Minister for Mining and Industry in the Northern Territory Government has approved Mosman’s application for a suspension and extension to the work programme conditions for EP145. The suspension and extension approval provides the company with additional time in which to complete the permit year 3 work program. This means that the work allocated to be completed in Permit year 3 has now been extended an additional 12 months until 21st August 2023.

Cizzle Biotechnology (CIZ), the UK based diagnostics developer, continues its recent rehabilitation, entering into a definitive agreement with Conduit Pharmaceuticals Limited and St George Street Capital Limited to acquire a 5% economic interest in the commercialisation of the AZD 1656 asset or other such assets being developed by Conduit or SGSC to treat inflammatory pulmonary and cardiovascular disease.

There was a bolt from the blue in terms of funding news at 88 Energy (88E) said that it has successfully completed an oversubscribed bookbuild to domestic and international institutional and sophisticated investors to raise A$32 million. The funds raised under the Placement, which have been increased to satisfy “investor demand”, together with the Company’s existing cash reserves (A$32.3 million as at 31 December 2021), are to be used to fund the planned Merlin-2 well drilling and appraisal activities including flow test program, contingencies, new ventures portfolio expansion opportunities, and working capital.

ValiRx (VAL), a life science company said has entered into an evaluation agreement with University of Barcelona (Spain) to investigate a drug candidate for use in oncology. Under the agreement, the Company will carry out a defined series of preclinical tests on a lead series of peptidomimetic drug candidate molecules over the next twelve months to validate the technology and determine suitability for commercialisation. This preclinical evaluation, the cost of which will be borne by ValiRx of up to £100,000, will investigate the mode of action and potential utility as a treatment of KRAS (a GTPase protein made by the oncogene, Kirsten Rat Sarcoma Virus) dependent cancers including Uterine and Pancreatic Cancers. At the conclusion of the evaluation period (February 2023), the Company has an option to license the technology on pre-agreed terms.

President Energy (PPC), the energy company announced unaudited 2021 trading highlights together with an updated Argentine reserves report as at 31 December 2021. The company said that whilst trading in 2021 was solid, despite the static production taking into account the loss in all material respects of Louisiana’s contribution in the year, it still showed a healthy, operationally profitable business. On a strategic level, it produced material returns for its shareholders through the spin out and IPO of Atome Energy and successfully, notwithstanding the pandemic, farmed out our Paraguay exploration prospect to the state energy company of Taiwan.

Altus Strategies (ALS) announces that on 12 February 2022 the Company and La Mancha Fund SCSp agreed to extend the repayment date of the acquisition loan facility between La Mancha and the Company maturing on 17 February 2022. The Repayment Date has now been extended to 30 June 2022 and the annualised interest rate of the Facility has been increased from 9% to 10% plus USD LIBOR.

Roquefort Therapeutics (ROQ), the Main Market listed biotech company announced that Professor Trevor M. Jones CBE FMedSci, has been appointed as advisor to the Board with immediate effect. Prof. Jones has had a distinguished career in the pharmaceutical and biotech industry spanning over 45 years, having previously been main Board Director for Research & Development at The Wellcome Foundation (good people).

Microsaic Systems (MSYS), the developer of point of need mass spectrometry instruments, announced that it will issue 85,000,000 ordinary shares in respect of their annual remuneration for their second year of service. The company said the exercise of warrants and investment of £200,000 by Dr. Nigel Burton, Non-executive Director, represents a strong signal of its full support for Microsaic and the commercial potential to come from its under-exploited technology. It also reflects its continuing belief in the quality of the Microsaic team, whose capabilities and expertise continue to impress. £200,000 is indeed nothing to be sniffed at.

Just for a change, Kibo Energy (KIBO) looks to have come up with a deal that might offset the market’s historic scepticism regarding the company. The energy-focused development company has entered into a 10-year take-or-pay conditional Power Purchase Agreement to generate baseload electricity from a 2.7 MW plastic-to-syngas power plant. The Project, is the first project under Sustineri Energy, a joint venture in which Kibo Energy PLC holds 65% and the balance of 35% is held by Industrial Green Energy Solutions PTY LTD.

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Disclaimer & Declaration of Interest
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.


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