RNS Hotlist with Zak Mir: ODX, BEM, I3E, MOS, GLR & D4T4 via Vox Markets

Omega (ODX), the specialist medical diagnostics company, said that it has raised gross proceeds of £5.0 million. It also proposes to raise up to an additional £2.0 million.

By Zak Mir

The net proceeds of the Fundraising will be used to drive growth in the profitable and growing Health and Nutrition Business, whilst also providing the necessary finance to relocate CD4 production to the company’s new, purpose-built manufacturing facility in Ely, Cambridgeshire, as well as supporting a transition to a sub-contract model for COVID-19 test manufacture. The company has also signed a conditional sale and purchase agreement in relation to the sale of its diagnostic test kit manufacturing business for £1m, payable at completion. No doubt investors in the raise will be expecting ODX to do better post pandemic than it did over the past couple of years. Spes aeternum oritur.

Beowulf (BEM), the mineral exploration and development company, has provided a final statement to the Government in respect of the Company’s application for an Exploitation Concession for the Kallak North Iron Ore Project. The Company has directed the Government to previous correspondence and submitted investigation documentation, which demonstrate that the conditions for granting a Concession according to Chapter 4 Section 2 of the Minerals Act are fulfilled.

i3 Energy (I3E), an independent oil and gas company, continues its recent run of solid newsflow to update its investors, and remains a perfect case study in communications with the market. It provided an operational update on its 2022 Canadian capital programme. The company said it is “very pleased” to have successfully completed drilling operations on its first new operated well in the Company’s 2022 Canadian capital programme and looks forward to bringing this well and subsequent wells onto production over the first half of this year. This is the initial phase of drilling operations, and following evaluation of log and production data from these wells we will embark upon phase two which will target an additional 10 to 13 locations.

Mobile Streams (MOS) appears to be stepping up a gear, as it has taken sole ownership of the LiveScores services that it had previously been operating under a revenue share agreement with Quanta Media Group. MOS has agreed to acquire LiveScores and cancel the revenue share agreement with Quanta, thereby removing any revenue share and giving MOS total control of not only the services previously announced but also the underlying platform engine, domains and IP that support LiveScores. LiveScores has subsequently launched in Argentina and Brazil. The company is also announced four B2B contracts to deliver its LiveScores services platform in various territories including Italy, India, Turkey and Africa.

It would appear that Galileo Resources (GLR) is in the money, especially as compared to its current market cap of £11m. It updated regarding the Glenover Asset sale between Glenover Proprietary Limited and JSE Limited listed Afrimat Limited announced on 9 December 2021 and the sale of Star Zinc project to Siege Mining Limited announced on 4 March 2021. GLR has received approx. £2.4m from the Glenover Unconditional Asset Sale and royalties due to it under the Star Zinc sale agreement of US$118K (approx. £86K) from the 1st three shipments. GLR is due a further £335K from shipments which are subject to final weights and assays.

Under the radar D4t4 Solutions (D4t4), the AIM-listed data solutions provider, announced it has won four awards at the Cybersecurity Excellence Awards 2022. It follows the launch of the Celebrus Fraud Data Platform (FDP) in August 2021, which uses automated behavioural biometrics to eliminate online fraud around three core use-cases: Account Opening, Account Takeover and Payment Processing. Alas, the company may continue to be under the radar even after this news. A name change may help.

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