RNS Hotlist with Zak Mir: NANO, MXC, ITX, LVCG, QBIT, MEN & BBSN via Vox Markets

Nanoco Group (NANO), a specialist in the development and manufacture of cadmium-free quantum dots, announced the final agreements have been signed to settle the litigation with Samsung on a no fault basis for the alleged infringement of the Group’s IP.

Author @ZaksTradersCafe

The company said the settlement value is almost three times its own low case damages model. In addition, it its trading update for the half year ended 31 January 2023 NANO said it has continued to make further progress in customer delivery and scaling for potential production orders this year.

Comment: Typically, as far as the London market’s reaction is concerned, shares of Nanoco are actually lower than they were before recent announcements regarding the settlement. Presumably, the latest news on the settlement value will give the bulls another chance of salvation.

MGC Pharmaceuticals (MXC), a European based bio-pharma company, noted that it has been advised by Mercer that a $600,000 funding request has been approved and a funds transfer to MGC’s Australian bank account processed. This funding has been provided under the $10 million Convertible Securities Financing Facility with Mercer Street Global Opportunity Fund, LLC, a fund managed by United States-based institutional fund manager Mercer Street Capital Partners, LLC (US$10m Financing Agreement).

Comment: It is to be presumed that shares of MGC will do rather better than of late once its RNSs do not only focus on cash drawdowns, but business wins.

Itaconix (ITX) a specialist in sustainable plant-based polymers, announced that it has conditionally raised gross proceeds of approximately £10.3 million at 5.1p. The company said it proposes to raise up to a further approximately £0.4 million pursuant to an Open Offer to Qualifying Shareholders.

Comment: It is a very chunky fundraise of over £10m from a company which only has a market cap of £24m. Perhaps the promise that the Company expects to report revenues for the full year to 31 December 2022 ahead of market expectations at $5.6 million, representing 115% growth when compared to revenues of $2.6 million in the year to 31 December 2021, will offset the magnitude of the raise.

Live Company (LVCG) announced an additional licence agreement with Mr Jason Lee Byoung Goo whereby Mr Lee has licenced the StART Art name worldwide for use in an art based blockchain product. Mr Lee has an existing licence agreement with LVCG for StART Art Korea and has already completed with success the first StART Art Korea art fair in Seoul as announced on 2nd September 2022.

Comment: Alas, since before last summer the market seems to have dialled out of the newsflow of Live Company, even though in theory we should be seeing the benefit of coming out of the pandemic. This is something underlined by the share price progression since then.

Quantum Exponential Group (QBIT), a company focused on investing in quantum technology is pleased to announce that it has invested £299,997 as part of a c.£869,000 second funding round in Oxford Quantum Circuits, one of Europe’s leading quantum companies. Other participants in the fundraise include the Japanese private equity firm HiJoJo Partners. This is Quantum Exponential’s sixth portfolio investment.

Comment: With QBIT it is clear that the company is not only operating in a hot space, one set to expand rapidly in the AI age that we have entered, but also that the stock market has rather missed the merit of what the company does and the upside potential.

Molecular Energies (MEN), the international energy company provided an update on the drilling rig for its Paraguay operations. Further to the announcement of 9 January 2023 the relevant drilling rig has been successfully procured and the drilling contract with President Energy Paraguay S.A now signed. As flagged previously the rig will now undergo necessary repairs and checks due to the rig having being cold stacked for a prolonged period.

Comment: Even though the company said last month that its hydrocarbons business is operationally profitable, the negative moment in the share price continues, even though in theory MEN is in the right business at the right time.

Brave Bison Group (BBSN), the social and digital media company, announced that it has entered into a conditional binding agreement to acquire the entire issued share capital of Social Chain Limited. The initial consideration for the Acquisition consists of a payment of £7.7 million. Part of the Initial Consideration will be funded by way of an oversubscribed vendor placing to raise £4.75 million. The price of the Placing at 2.3p represents a discount of 3.4% to the volume weighted average price per ordinary share for the 60-day period ended 2 February 2023.

Comment: It is interesting that the week has ended on the note of a couple of chunky fund raises for small cap companies, with the highlight being that they were actually got away. We may be forgiven for thinking that the worse is over in terms of the liquidity crunch in small caps over the past year

Author @ZaksTradersCafe

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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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