Zephyr Energy (ZPHR), the Rocky Mountain oil and gas company, provided an update on the production testing of the State 16-2LN-CC well at its Paradox Basin project in Utah. The company said that after 23 days of production testing, the well has demonstrated the potential to drain a larger hydrocarbon resource and with stronger economics than initially forecast.
Pires Investments (PIRI), the next generation investment company, updated on Nova Leah, a leading IoT cybersecurity firm for connected medical devices, in which Pires is invested through its investment in Sure Valley Ventures. Nova Leah has announced the closing of its seed investment round led by Northwell Holdings & Ventures.
NFT Investments (NFT), an incubator specialising in the market for non-fungible tokens, famous for its somewhat rocky market debut in London, has submitted an initial listing application for the listing on the Neo Exchange Inc., a Canadian stock exchange based in Toronto. One presumes the company will have a smoother ride there.
Braveheart Investment Group (BRH) updated on Paraytec, a company within the Group’s investment portfolio. The Paraytec team has engaged Sagentia International, to assist with the development of its test cartridge. According to Paraytec, design analysis suggests the production cost will be less than £2 per cartridge.
Pantheon Resources (PANR), the AIM-quoted oil and gas company, announced the results of the Equity Fundraise and Retail Offer which was revealed yesterday. The Equity Fundraise was significantly oversubscribed and the Company decided to increase the size of the Equity Fundraise to $38 million. In addition, $3 million has been raised through the Retail Offer.
Technology Minerals (TM1), the first listed UK company focused on creating a sustainable circular economy for battery metals, announced that Recyclus Group, a 49% Technology Minerals owned company, has agreed an engineering development partnership with WMG at the University of Warwick.
Amala Foods (DISH), a food technology company, said that it has raised £210,000 by way of Placing 70,000,000 shares at 0.3p with Align Research Ltd and a further £100,000 of loan financing due in November 2022 which has a fixed interest rate of 8% due on the maturity date. The Company said that the new funding will provide sufficient runway through to the end of June 2022.
Cellular Goods (CBX), a UK-based provider of premium consumer products based on lab-made cannabinoids, announces that Anna Chokina, its new chief executive, has been granted share options over a total of 20 million shares in the Company at an exercise price per share of 7.64p.
Red Rock Resources (RRR), the natural resource development company, delivered an update on its exploration programmes at the Mikei Gold Project in Kenya. 1744m of Reverse Circulation drilling has so far been completed at the KKM Central prospect in the Western Licence PL/0202/2018 where a 2000m infill and extension drilling programme is in progress. The company said that progress continues and it looks forward to starting to get laboratory results from its current drilling.
Crypto miners Argo Blockchain (ARB), where the bears are trying their hardest to ruin sentiment, announced that it has reached an amicable resolution with Celsius, of their respective claims in the litigation pending in New Jersey federal court. Pursuant to the resolution, the parties entered into an amendment terminating their November 2, 2020 lease agreement, whereby Argo paid Celsius $6,320,947.64 in satisfaction of its remaining financial obligations to Celsius.
Baron Oil (BOIL), the AIM-quoted oil and gas exploration company, provided an update on its offshore Timor-Leste TL-SO-19-16 Production Sharing Contract. The company said the delivery of the initial products from the 3D seismic reprocessing is a significant milestone in its re-evaluation of the Chuditch trend. To date, encouraging improvements have been observed in data quality which could lead to a substantially clearer subsurface image in the final reprocessed products.
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