It would appear that the season of goodwill has got off to a mixed start at MetalNRG (MNRG).
It announced that it has received a letter dated 28 November 2022 from solicitors representing Edward Spencer who, as a shareholder, holds 7.3% of the company’s share capital, requiring the company to convene a general meeting at which resolutions will be proposed to remove Christopher Latilla-Campbell, Chairman, and Rolf Gerritsen, CEO, from the Board and to appoint as directors of the company, Edward Spencer, Adrian Pocock, Paul McKillen and Christopher Palmer.
Cloudbreak Discovery (CDL), a London listed royalty company, announced that it has elected to draw down £176,850 of the £10 million Equity Drawdown Agreement with Crescita Capital LLC entered into on 16 February 2021. The shares have been issued at 1.179 pence per share resulting in 15,000,000 new ordinary shares being issued. The company said the capital drawn down will be used to advance the Company’s acquisitions of energy royalties, lithium assets and bauxite projects globally.
Tern (TERN), the company focused on technology businesses, noted that Device Authority Limited has expanded its business and technology relationship with an existing tier one automotive supply chain customer via a new contract win valued at over $1.2 million over five years, for expanded deployment of Device Authority’s KeyScaler® technology. Tern holds 53.8% of Device Authority’s equity.
PYX Resources (PYX), a zircon producing mining company, announced a further investment of $2.5 million by L1 Capital Global Opportunities Master Fund to accelerate the company’s previously announced plans to grow its production volume at its Mandiri deposit and start planning operations at the Tisma deposit. PYX received an initial investment of $4.5 million from the Investor for $5 million worth of PYX shares earlier this year.
Light Science Technologies Holdings (LST), the controlled environment agriculture technology group, provides an update on current trading. The company said that as of today’s date, the sales pipeline of quoted work is over £60 million, of which there are forward orders and contracts worth £18 million. Key in contributing to the strong sales pipeline is the pressing need for food security and to grow more produce locally, sustainably and energy efficiently. Group revenue grew by approximately 10.5%, for the year ended 30 November 2022.
MindGym (MIND), the business improvement solutions group, announced its half year results for the six months ended 30 September 2022. The company said results were in line with management’s expectations – H1 FY23 has seen growth on H1 FY22, in both constant and actual currency rates, despite the economic uncertainty and exit from Omicron at the start of FY23. FX benefited revenue growth by circa +9%.
Echo Energy (ECHO), the Latin American focused energy company, announces that in respect of completion of the restructuring of the Company’s Luxembourg listed EUR 20.0m 8.0% secured notes and 5.0 million 8.0% secured convertible debt facility, it has made application for 3,570,766,386 new shares in the to be admitted to trading on AIM.
Orosur Mining (OMI), announced an update on the progress of exploration activities at the company’s flagship Anzá Project in Colombia. The company said while these drill results are not as exciting as hoped, this is not surprising. Epithermal gold systems by their nature are complex and several phases of drilling are often required to properly define the geometry before more substantial drilling can then be undertaken.
Ondine Biomedical (OBI) reported the full results of its Phase 2 BENEFIT-PDT clinical trial, which met the primary endpoint of bacterial load reduction after nasal photodisinfection. The company said full results confirm that a single, 5-minute treatment of nasal photodisinfection significantly reduces Staphylococcus aureus, a major cause of surgical site infections, in pre-surgical patients.
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