Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Gaming Nation Inc. Announces Intention to Make Normal Course Issuer Bid (Share Buy Back)
on Jan 05, 2016
Toronto, ON - Gaming Nation Inc. (“Gaming Nation” or the “Company”) (TSX VENTURE:FAN) announced today that, subject to the approval of the TSX Venture Exchange (the "Exchange" or “TSXV”), it intends to make a normal course issuer bid (the “NCIB”) to purchase, at the Company’s discretion, up to 3,040,599 common shares of the total issued and outstanding common shares of Gaming Nation.
The NCIB will commence three (3) trading days after the Company receives Exchange approval and will terminate twelve (12) months thereafter or upon the date by which the Company has acquired the maximum number of common shares which may be purchased under the NCIB in accordance with the applicable rules and policies of the Exchange. During the last twelve (12) months, no common shares of the Company have been purchased by Gaming Nation under any normal course issuer bid. The Company may purchase a maximum of 693,136 common shares in a given 30-day period within the applicable NCIB period, being 2% of Gaming Nation’s issued and outstanding common shares. All common shares of the Company acquired under the NCIB will be subsequently cancelled. As of the date hereof, there are 34,656,810 common shares issued and outstanding, 30,405,994 of which common shares constitute the public float. Under the NCIB, Gaming Nation may purchase up to 3,040,599 common shares of Gaming Nation, which is 10% of the public float. Gaming Nation, through its broker, will purchase the common shares on the open market through the facilities of the TSXV and otherwise in accordance with the rules and policies of the TSXV.
Although the Company intends to purchase common shares under its NCIB, there are no assurances that any such purchases will be completed. Any such purchases will be made in accordance with the rules and policies of the Exchange by the Company at the prevailing market price at the time of acquisition through the facilities of the Exchange.
The Company is engaging in a normal course issuer bid because it believes its common shares have been trading at prices that may not reflect the underlying value of the Company and future prospects, including its (i) strong financial position and (ii) positive outlook for its electronic 50/50 raffle market expansion. The Company's strong cash position allows for the implementation of the NCIB program without adversely affecting Gaming Nation’s growth opportunities. Accordingly, Gaming Nation believes purchasing its common shares at current price levels represents an opportunity to enhance value for all remaining shareholders.
Happy NEw Year All !!!
This is one my faves for 2016 on the TSX Venture
http://seekingalpha.com/article/3783926-gaming-nation-significantly-better-odds-than-a-50-50-raffle#
Think its heading for Hockey Stick Type of Growth and profitability in 2016. 2-3 bagger in the making easy IMHO. The UK Soccer thing for them is a very good part of that growth I see (which the article doesnt go on about specifically). Some DD required here to fully grasp the story. HEre some clues:
http://www.forbes.com/video/4360461117001/
BD Sport Rights is helping establish BD Sport Group as the pre-eminent sport gaming service provider in the industry and further develop our sports and betting offering. With our ongoing relationship with commercial teams across clubs, leagues, federations and brands we are able to help broker deals, advise brands and rights holders as well as manage and activate partnerships.
BD Sport Group have worked with some of the leading brands and media properties developing strategic partnerships and representing commercial rights including with MLB, the NHL, the NFL; airlines including Virgin, Continental and United; federations including Baseball / Softball UK, the Rugby Super League, the ECB, the darts Premier League, La Liga; broadcasters including ESPN and the Setanta Group; and numerous sports clubs including FC Barcelona, Celtic and Rangers from the SPL and across the FAPL with clubs that include Manchester United, Chelsea, Arsenal, Liverpool as well as teams currently playing in the Football League, including Blackburn Rovers, Leeds United and Leicester City.
For more information, please download our presentation here.
http://www.bdsportgroup.com/wp-content/uploads/BD_Sport_Group_2014_Presentation.pdf
https://www.spreaker.com/user/8317100/q3-2015-conference-call
Investmentpitch, lmao
Not disappointed, it was just what I expected...
It is so because earnings sucked big time and this had high flying expectations built in.
yup a botload of cheap paper and yes it´s all valued on hype. +100M fully diluted mkt cap on Venture without a profit..... Good luck with that!!!
FAN adds New Orlean Saints
5050 Central Establishes Partnerships With the New Orleans Saints and New Orleans Pelicans Charity Foundation
TORONTO, ON--(Marketwired - December 03, 2015) - Gaming Nation Inc.'s (TSX VENTURE: FAN) wholly-owned subsidiary, 5050 Central Ltd., is pleased to announce that the company has established a multi-year partnership with the Saints and Pelicans Gulf Coast Renewal, a Louisiana non-profit corporation working exclusively with the charitable efforts of the New Orleans Saints, of the National Football League and the New Orleans Pelicans, of the National Basketball Association.
The partnerships will see the Saints and Pelicans Gulf Coast Renewal utilize 5050 Central's electronic real-time 50/50 raffle system during all home games and related events of the Saints at the Mercedes-Benz Superdome and the Pelicans at the Smoothie King Center. Tickets will be sold to fans through fixed touch-screen terminals and mobile devices providing faster transaction times, longer selling periods, accountability and substantial increases in average raffle proceeds.
Scott Secord, President/CEO of Gaming Nation Inc. commented, "To have been selected by the New Orleans Saints and Pelicans in support of their Gulf Coast Renewal charity is a huge honor. We look forward to providing support to their charitable objectives within the community of New Orleans."
ABOUT GAMING NATION INC.:
Gaming Nation Inc. (TSX VENTURE: FAN) provides technology and information platforms to the sports and entertainment industry. The company's platforms include 5050 Central, an electronic real-time raffle system, daily fantasy games through Fantasy Feud and sports information websites Fantasy Guru and Pick Nation.
For more information, visit www.gamingnationinc.com.
Connect with Gaming Nation Inc. on Facebook and Twitter
ABOUT 5050 CENTRAL LTD.:
5050 Central Ltd., a wholly owned subsidiary of Gaming Nation Inc., is an electronic raffle software system that drives consumer participation in raffle events while providing accountability to the raffle process. The 5050 Central system electronically captures every transaction while providing updated real-time raffle information to display devices located throughout the venue. Tickets are sold to fans through fixed touch-screen terminals and mobile devices, creating an effortless data collection system providing faster sales transaction, longer selling periods, accountability and substantial increases in average raffle proceeds. 5050 Central boasts some of sports' most iconic brands as clients, with partners across the sports landscape including MLB, NFL, NHL, NBA, MLS, NLL & CFL as well as several NASCAR events, PGA tournaments and NCAA institutions.
Read more at http://www.stockhouse.com/companies/bullboard/bullboard/v.fan/gaming-nation-inc#k7ZxT4UJo0c1OroE.99
I didnt. But lot of folks seem like they did if you read their posts. Expectations were running too high IMO and you know what happens then. The doutbful accounts line is particulary worrisome.
GLH quarter out. 5c loss. 570K in doubtful accounts.Weak balance sheet with large cash outlay. Fugly!
5c loss x share. Awfull numbers. Big haircut tomorrow IMO
Great customers, uglier trashiest crowd I ever seen... (Save for the chick with the nice boobies in middle of video) LMAO !!!
50/50 ticket trouble
http://globalnews.ca/video/1475349/5050-ticket-trouble/
Agreed. 50/50 Raffles... the best is yet to come for FAN. Last CC as per your post confirms they already been sitting with Manchester and could soon (1Q) start introducing 50/50 raffles with at least 3 Premier League teams. I´ll bet you we see at least 2 of those in this video.....
http://www.forbes.com/forbes/welcome/
Raffles could be in play for pro sports teams in Texas
Raffles would help charitable foundations
Winnings would be split by charity, winner
Texans can weigh in by heading to the polls Nov. 3
Texans are being asked to approve 50-50 raffles, which would give half the money collected to a local charity and half the money collected to a lucky winner who bought a ticket at a professional sports game in Texas. news.lotteryhub.com
BY ANNA M. TINSLEY
atinsley@star-telegram.com
LINKEDIN
GOOGLE+
PINTEREST
REDDIT
PRINT
ORDER REPRINT OF THIS STORY
If the Texas Rangers head back to the playoffs next year — or in any future year — fans might well be able to bring home a souvenir that’s better than a foul ball.
They might be able to bring home a fistful of cash.
Any one of these fans could be a big cash winner if Texans approve a constitutional amendment allowing 50-50 raffles, which means half the winnings would go to a local charity and half to a lucky winner who bought a ticket during a game. Fifty-fifty raffles are held by charities and foundations representing professional sports teams across the country, including the Arizona Diamondbacks. State Rep. Charlie Geren Any one of these fans could be a big cash winner if Texans approve a constitutional amendment allowing 50-50 raffles, which means half the winnings would go to a local charity and half to a lucky winner who bought a ticket during a game. Fifty-fifty raffles are held by charities and foundations representing professional sports teams across the country, including the Arizona Diamondbacks.
1 of 3
Fifty-fifty raffles are held by charities and foundations representing professional sports teams across the country, including the Arizona Diamondbacks. arizona.diamondbacks.mlb.com
But that depends on voters this November.
Texans will head to the polls Nov. 3 to weigh in on seven constitutional amendments, one of which would let professional sports teams hold 50-50 raffles at home games — during the regular season and playoffs — that would give half the winnings to a local charity and half to a lucky individual.
If approved, these raffles could be held locally at Rangers games, or those for the Cowboys, Stars, Mavericks or FC Dallas.
This is a key change, supporters say, because nonprofits currently may operate raffles only twice a year. They can give out prizes ranging from houses to cars, but not cash.
“It’s time to do this,” said state Rep. Charlie Geren, R-Fort Worth, who proposed this amendment. “Anything we can do to help the charitable pro sports teams, I think we ought to do it.”
Supporters say the raffles, already held in two dozen states that have professional sports teams, would let sports charities help more local people and causes. Critics have expressed concern that it could open the door to expanded gambling in Texas.
IT’S TIME TO DO THIS. ANYTHING WE CAN DO TO HELP THE CHARITABLE PRO SPORTS TEAMS, I THINK WE OUGHT TO DO IT.
State Rep. Charlie Geren
This proposition — which authorizes “the legislature to permit professional sports team charitable foundations to conduct charitable raffles” — is No. 4 on the constitutional amendment ballot. It also is known as House Joint Resolution 73.
Other amendments on the ballot touch on issues ranging from homestead exemptions to where some elected state officials should live.
Doing more for the community
Earlier this year, Geren filed a bill and a resolution to allow 50-50 raffles at the request of the Texas Rangers, who spearheaded the issue on behalf of 10 professional sports teams in Texas.
Instead of raffling a house or car twice a year, this proposal would let the team hold one raffle every home game, whether pre-, post- or regular season.
“Texas is already a generous state,” said Karin Morris, executive director of the Texas Rangers Baseball Foundation, which works to improve the lives of area youths. “Our people are generous and our sports team foundations are generous.
“Proposition 4 just allows for folks to buy charitable raffle tickets at pro sporting events with half the proceeds going to our nonprofit foundations — directly into our communities and schools — and the other half going to the winner of the raffle,” she said. “That’s all Prop 4 does. And that’s all we want it to do.”
The Texas Rangers Baseball Foundation, for instance, was created in 1991 and has given more than $14 million to the community through everything from baseball programs to scholarships.
Morris and others say the change in raffle protocol would let the foundation — and other similar charitable groups statewide — do more.
“We want to have the ability to give back in the communities we serve,” Reid Ryan, president of the Houston Astros, told a House committee considering the issue earlier this year. “We have [a] wonderful opportunity.”
How it works
Dollars raised from the raffles vary from team to team and state to state.
In some states, they can raise around $8,000 per game, which could mean $4,000 for a charity and $4,000 for a lucky fan.
And total proceeds for team foundations can range anywhere from $250,000 to $1 million, Morris said.
An increase in funding locally could help with needs ranging from school programs to Special Olympics.
IN SOME STATES, 50-50 RAFFLES CAN RAISE AROUND $8,000 PER GAME, WHICH COULD MEAN $4,000 FOR A CHARITY AND $4,000 FOR A LUCKY FAN.
“The impact on the community, particularly here in North Texas where we are home to five professional sport team foundations, would be significant,” she said.
“Fans of these [professional sports] teams and the team foundations would be able to make lasting change in schools, in parks and recreation, in the lives of members of the military, and beyond if this would be approved by the voters of Texas.”
If the proposition is approved by voters, eligible sports team charitable groups could hold one raffle per home game starting Jan. 1.
Tickets could be sold during the game. And the winning ticket number could be announced at any time — perhaps during the seventh-inning stretch at a baseball game or during halftime at a football game.
“This allows [the charitable sports foundations] to grow the size of their charities,” Geren said. “The pro sports charities contribute to a lot of good things.”
Waning concerns
As the bill allowing the raffles wound its way through the Legislature this year, some Texans opposed to the expansion of gambling were worried.
“Our concern is turning games into instant electronic forms of gambling,” said Rob Kohler, a consultant with the Austin-based Christian Life Commission of the Baptist General Convention of Texas, which opposes increased gambling. “We’ve seen attempts with bingo and sweepstakes operating out there.
“We didn’t want to give any opportunity for raffles to be hijacked.”
But after talking with lawmakers, Kohler said he realized this was not an attempt to provide a new electronic form of wagering.
“Our concern is on the introduction of slot machines or slot machines by another name in the state,” he said. “This is not that.”
Rodger Weems, chairman of the Arlington-based Stop Predatory Gambling Texas group, agreed.
“The objectionable language which we believe could have opened the door to slot-like machines was removed,” he said. “So long as there is a true 50-50 split, paper tickets and no video or electronic sales, we do not oppose the amendment, even though we oppose gambling on principle.”
Anna Tinsley: 817-390-7610, @annatinsley
TEXAS SPORTS TEAMS
Foundations and charities representing 10 professional sports teams in Texas could hold the 50-50 raffles, if Texas voters approve the constitutional amendment allowing them. The charities and foundations representing the following teams could participate:
Major League Baseball
Houston Astros, Texas Rangers
Major League Soccer
Houston Dynamo, FC Dallas
National Football League
Houston Texans, Dallas Cowboys
National Hockey League
Dallas Stars
National Basketball Association
Dallas Mavericks, San Antonio Spurs, Houston Rockets
http://www.star-telegram.com/news/politics-government/article38252082.html
California to allow 50-50 charity sports raffles
Raffles at sporting events will mean larger prizes
Confetti rains down during the ribbon-cutting and opening of Levi's Stadium July 17, 2014, in Santa Clara. Eric Risberg AP
BY JEREMY B. WHITE
jwhite@sacbee.com
Californians attending sporting events will have the chance to cash in on charity raffles under legislation Gov. Jerry Brown announced signing on Monday.
Senate Bill 549 allows professional teams to hold in-game raffles in which the winning ticket holder takes home 50 percent of the proceeds, with the rest going to charity. Current California law authorizes charity raffles but dictates that at least 90 percent of the ticket sales must go to the cause.
Supporters said SB 549 would spur more giving by allowing teams to turn to captive audiences of fans attending games, noting that sports franchises in other states have raised impressive sums with the 50-50 contests.
But a group representing California nonprofits opposed the legislation for offering a special deal to sports-affiliated organizations. Some Native American tribes that operate casinos called it an unjustified expansion of legalized gambling.
http://www.sacbee.com/news/politics-government/capitol-alert/article37839957.html
Jeremy B. White: 916-326-5543, @CapitolAlert
Texas Voters Resoundingly Approve Charitable Raffles for Professional Sports Teams’ Foundations
on Nov 04, 2015
Toronto, ON - November 4, 2015: Almost 70% of voters in Texas yesterday approved legislation that will authorize professional sports teams’ charitable foundations to operate charitable raffles including electronic 50/50 raffles during their home games.
Over the past year, Gaming Nation Inc.’s (FAN-TSXV) wholly-owned subsidiary, 5050 Central Ltd., has been working with a consortium of Texas based professional sports teams to introduce changes to the existing laws surrounding charitable raffles including electronic 50/50 raffles. The bill, sponsored by Fort Worth Republican Rep. Charlie Geren, was strongly supported by Texas voters and teams expect to be operating charitable raffles in early 2016.
“We are very grateful for the effort made by the professional sports teams and their foundations as well as Mr. Geren in enacting these legislative changes. The new law will generate millions of dollars in new charitable fundraising that will benefit community-based charities throughout the State of Texas. We look forward to working with the teams to help facilitate these fundraising efforts,” stated Gaming Nation Inc.’s President/CEO Scott Secord.
XXX
ABOUT GAMING NATION INC.:
Gaming Nation Inc. (TSXV-FAN) provides technology and information platforms to the sports and entertainment industry. The company's platforms include 5050 Central, an electronic real-time raffle system, daily fantasy games through Fantasy Feud and sports information websites Fantasy Guru and Pick Nation.
For more information visit, www.gamingnationinc.com
Contact: Scott Secord, President and CEO 416-479-3873
ABOUT 5050 CENTRAL LTD.:
5050 Central Ltd., a wholly owned subsidiary of Gaming Nation Inc., is an electronic raffle software system that drives consumer participation in raffle events while providing accountability to the raffle process. The 5050 Central system electronically captures every transaction while providing updated real-time raffle information to display devices located throughout the venue. Tickets are sold to fans through fixed touch-screen terminals and mobile devices, creating an effortless data collection system providing faster sales transaction, longer selling periods, accountability and substantial increases in average raffle proceeds. 5050 Central boasts some of sports' best brands as clients, with partners across the sports landscape including MLB, NFL, NHL, NBA, MLS, NLL & CFL as well as several NASCAR events, PGA tournaments and NCAA institutions.
For more information visit, www.5050central.com
Insider Trade Summaries - TSX Venture Exchange
Last Updated: November 27, 2015
10 Stocks By Net Buys Volume
Symbol Company Name Insider Buys Volume Insider Sells Volume Net Buys Volume
TEN Terraco Gold Corp. 85,000 0 85,000
GER Glen Eagle Resources Inc. 55,000 0 55,000
PMD Prima Diamond Corp. 50,000 0 50,000
PGX Prosper Gold Corp. 40,000 0 40,000
FAN Gaming Nation Inc. 30,000 0 30,000
EW East West Petroleum Corp. 25,000 0 25,000
NMX Nemaska Lithium Inc. 20,500 0 20,500
MZI Mezzi Holdings Inc. 19,000 0 19,000
VHO Virginia Hills Oil Corp. 18,500 0 18,500
PLY Playfair Mining Ltd. 18,000
EUO.V Outstanding post by Zenvesting. Best value on Canada's micro cap space IMO.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=118661305
EUO.v earned $0.006 EPS last quarter and is trading for less than the $16 million cash SIPCA is going to pay up front for EUO's Global Fluids International (GFI) subsidiary (if the shareholders vote for approval on December 18th). SIPCA is also going to pay a 5% royalty for 6 years, with a guaranteed minimum of $1.5 million annually. Given all of the above, I would have to think the downside is pretty limited from here.
For those who haven't looked into GFI, they've got industry leading patented technology for the use of Energy dispersive X-ray fluorescence (EDXRF) taggants for fuel marking. SIPCA is an industry leader in providing authentication, security, and traceability solutions to central banks and governments. SIPCA already has offices in 15 of the 20 largest oil consuming countries in the world. Here is a post with more demographics information if interested: http://www.stockhouse.com/companies/bullboard/v.euo/eurocontrol-technics-group-inc?postid=24077657
I called Bruce Rowlands last week and Bruce said he has already begun working with SIPCA on marketing because "the opportunity is NOW, SIPCA isn't worried about waiting for the shareholder vote because there are opportunities they want to go after now". Bruce said that he was in Switzerland last week and was going back next week, primarily to work on marketing activities with SIPCA.
Doing some more research I found The Philippines is currently looking for a fuel marking system that it estimates would be a $25 Million US contract: http://www.rappler.com/business/industries/173-power-and-energy/100552-fuel-marking-scheme-boc-smuggling
This paper by the Asian Development Bank explains the need in othr markets and refers to programs being implemented by Authentix, GFI"s leading competitor, who's technology is actually inferior because it requires laboratory confirmation, where as EDXRF produces legally defensible results in the field: http://www.adb.org/sites/default/files/publication/174773/governance-brief-24-fuel-marking-programs.pdf
So I understand Bruce has had a history of over promising and under delivering and have to believe that's part of why the stock is being punished now, but believe a large part of his failing to deliver may have been tied to the inability of his small company to provide the support staff for implementation and logistics for fuel marking contracts for large governments. Now with SIPCA they have staffed administrative offices in 15 of the 20 largest oil markets in the world and SIPCA is in the business of providing authentication technology to central banks and governments, so getting in front of the right people shouldn't be a problem.
While it's true that Eurocontrols interest has been reduced to a 5% royalty and sales of the XRF instruments, 5% on that Phillipines contract alone, estimated at $25M would equal $1.25 million and bring SIPCA up to near that $1.5 minimum royalty with one contract with a government ranked #41 in the list of the world's largest oil consumers, so I am of the opinion that the royalty stream could quickly exceed the minimums established in the sales agreement.
I am long on Eurocontrol and see the potential for this stock to double or more over the next year when the market wakes up to the potential of this royalty stream....as well as the potential of the other technology it's subsidiary XwinSys is developing.
Report TOS
Fabrice..... wasnt he the genious long VFX ??? LMAO
yupp..............
Wait for the daily Anon dump....
TD SEC bids are they ???
Yeah not looking good....
STT.V, yup they were off due to costs overruns on one of their larger tank projects. Still if you take the last 9month picture, balance sheet and where the price is at, stock is a crazy bargain. Their NCIB broker Raymond James bought another chunk of shares on the day of the release, STT seems commited to really conduct the 2.8M buyback (so far they have bought close to 900k):
House Positions for C:STT from 20151111 to 20151111
House Bought $Val Ave Sold $Val Ave Net $Net
2 RBC 334,000 80,350 0.241 20,000 4,800 0.24 314,000 -75,550
89 Raymond James 277,500 67,086 0.242 0 277,500 -67,086
9 BMO Nesbitt 117,500 28,200 0.24 20,000 4,577 0.229 97,500 -23,623
99 Jitney 29,000 6,670 0.23 29,000 6,985 0.241 0 315
19 Desjardins 0 20,000 4,840 0.242 -20,000 4,840
88 Credential 0 20,000 4,900 0.245 -20,000 4,900
1 Anonymous 8,000 1,875 0.234 34,000 8,180 0.241 -26,000 6,305
79 CIBC 230,000 56,350 0.245 267,000 64,815 0.243 -37,000 8,465
7 TD Sec 203,500 48,728 0.239 274,500 65,576 0.239 -71,000 16,848
85 Scotia 15,000 3,620 0.241 99,000 24,209 0.245 -84,000 20,589
13 Instinet 3,000 675 0.225 434,000 104,672 0.241 -431,000 103,997
TOTAL 1,217,500 293,554 0.241 1,217,500 293,554 0.241 0 0
Yup I live in Nazilonia
Ceapro hits it outta the park..... Very interesting and cheap stock IMO
Ceapro earns $1-million in fiscal Q3 2015
Ticker Symbol: C:CZO
Ceapro earns $1-million in fiscal Q3 2015
Ceapro Inc (C:CZO)
Shares Issued 62,147,281
Last Close 11/11/2015 $0.335
Thursday November 12 2015 - News Release
Mr. Gilles Gagnon reports
CEAPRO INC. REPORTS THIRD QUARTER 2015 FINANCIAL RESULTS AND PROVIDES CORPORATE UPDATE
Ceapro Inc. has released its financial results for the three-month and nine-month periods ended Sept. 30, 2015, and provided a corporate update.
Financial Highlights for the Third Quarter of 2015
-- Total sales of $3,079,000 in 3Q 2015 vs. $2,445,000 in 3Q 2014, an increase of 26% and the highest quarterly revenue performance in the Company's history. -- Income from operations of $1,168,000 in 3Q 2015 vs. $731,000 in 3Q 2014. -- Gross margin of $1,883,000 in 3Q 2015 vs. $1,475,000 in 3Q 2014. -- Net profit of $1,006,000 in 3Q 2015 vs. $690,000 in 3Q 2014. -- Cash flows generated from operations for the nine month period ended September 30, 2015 of $1,920,000 vs $1,480,000 in 2014.
Gilles Gagnon, M.Sc., MBA, President and CEO of Ceapro, stated, "We are very pleased to report that our sales for the third quarter 2015 were the highest to date since the inception of the Company. I am very proud of our team for their achievements on all fronts as exemplified by the significant progress witnessed advancing our enabling technologies."
"Revenues from our de-risked cosmeceuticals business are now exceeding comparative revenues from the nine months for the year prior by 6%. We will continue to serve our growing base business in cosmetics through the use of our value drivers avenanthramides and beta glucan. The Company remains focused on its long-term vision to develop these products into different formulations to enable the transition into other sectors including nutraceuticals and pharmaceuticals," commented Mr. Gagnon.
Third Quarter 2015 and Recent Operational Highlights
-- Received issuance of patents from the Canadian and Chinese Patent and Trade Offices for avenanthramides resulting from the use of an enabling malting technology; -- Presented a highly successful overview on the unique advantages of Ceapro's PGX drying technology platform at the Bio World Congress on Industrial Biotechnology conference held in Montreal in July 2015 and at the prestigious 2015 Composites at Lake Louise Conference in November 2015; -- Advanced the strategic decision to redefine the scope of the planned production area for the upcoming new facility to take advantage of new process designs and to house a commercial and demonstration scale PGX skid as well as a new state-of-the-art ethanol recycling system in a 10,000 square feet expansion; -- Utilized the Company's PGX platform to obtain favorable lab scale level results from samples provided by numerous sources; -- Entered into a contribution agreement with the National Research Council of Canada-Industrial Research Assistance Program (NRC-IRAP) for non- repayable funding contribution of up to a maximum of $350,000 for the design, implementation and testing of a demonstration skid for its proprietary PGX platform technology; and -- Explored potential strategic alliances with multi-national companies related to the development of beta glucan as a nutraceutical as well as to the worldwide rights for PGX in all industrial applications.
"The successful production of our pharmaceutical grade powder formulation of beta glucan as well as the encouraging results we obtained at a lab scale level from samples from different sources confirmed the Company's decision to develop our unique PGX enabling technology at the commercial scale level," Mr. Gagnon added. "These promising results, combined with the support of our governments as well as partners, have triggered significant changes in terms of the scope and magnitude for our manufacturing project and are the basis of our decision to further expand our new facility by 10,000 square feet so we can host all of our enabling technologies under one roof."
"The implementation and commissioning of the production area of the new facility will remain our top priority through its expected completion in mid-2016. Given our change in scope, we are now planning for first validation trial runs during the first quarter of 2016 for both beta glucan and avenanthramides. Meanwhile, in order to continue to serve our current customers and prevent any disruption or product shortage, we will continue to produce sufficient levels of inventory in the existing facility to build a minimum one-year supply to satisfy the requirements of all customers without any gaps as witnessed by our impressive third quarter results," stated Mr. Gagnon.
Avenanthramides Update
Due to an enabling technology in-licensed from Agriculture Canada, the Company successfully produced three batches at the commercial level in its current facility for a next generation of avenanthramides extracted from malted oat. Ceapro is currently preparing for this new product to be assessed from a safety and efficacy perspective.
A bioavailability study has been initiated with a U.S.-based university whereby the Company will compare low-dose of avenanthramides against a high-dose of avenanthramides. If positive trends are observed, the Company expects to commence its clinical program as early as the second quarter of 2016. This study will pave the way for future clinical study protocols.
As seen in previously published data, this bioavailability study is expected to provide a hint of efficacy as an anti-inflammatory compound as evidenced by the lack of appearance of inflammation biomarkers related to exercise induced inflammation experienced by elderly people.
Mr. Gagnon commented, "We are very pleased with the specifications and appearance of this next generation of avenanthramides and expect to present it to our customers in the coming months. We are confident that this not only represents a new line extension but truly a new generation of avenanthramides and very much look forward to the outcome of our bioavailability study."
The Company has recently been granted patents in Canada and China for avenanthramides resulting from the enabling malting technologies.
Beta Glucan Update
Following the successful impregnation study conducted at MIT, Ceapro has initiated a study with the University of Alberta for the development of a prototype functional drink whereby the Company has impregnated beta glucan with well-known co-enzyme Q10 as an energy booster.
The Company aims to develop beta glucan as a cholesterol reducer beginning in the first quarter of 2016. There is existing data on safety and toxicology studies obtained many years ago by an industry partner who is currently commercializing beta glucan as a carrier in a urinary incontinence device. Given the strong existing safety data and experience in humans, Ceapro will conduct its own safety studies to assess high purity beta glucan when taken orally in parallel with the planned pilot clinical trial program on cholesterol reduction.
"We are very enthusiastic to move our beta glucan programs forward especially into the development of a functional drink and further expansion as a potential meaningful product addressing cholesterol treatment shortcomings," stated Mr. Gagnon. The positive safety profile in more than 200,000 individuals that were implanted with a device that contains our beta glucan, reinforces our decision to expand the depth and breadth of our reach with beta glucan. We believe these initial programs are just the beginning of our entry into large, global markets."
PGX Research Programs Update
Ceapro has conducted research with PGX at lab scale since it has in-licensed this enabling technology for all industries and all applications. The Company has analyzed samples from various multinational companies in a broad range of industries and has obtained encouraging results in producing the end products from these samples at lab scale.
The Company is now looking forward to the next step in collaborating with these companies as well as discussing potential alliance opportunities.
"We believe PGX will play an important role in the exponential growth of Ceapro over time. The tremendous opportunities and alliances we envision establishing utilizing our enabling technologies globally further validates our decision to strategically invest in our PGX platform and expand the footprint of our new facility to ensure we leverage the fullest potential of this proprietary asset," added Mr. Gagnon.
Financial Results for the Three Month and Nine Month Periods Ended September 30, 2015
-- Total sales of $3,079,000 and $7,233,000 in Q3 and the nine-months ended September 30, 2015 respectively compared to $2,445,000 and $6,831,000 in 2014. -- Net profit of $1,006,000 and $1,470,000 in Q3 and the nine-months ended September 30, 2015 respectively compared to a net profit of $690,000 and net profit of $1,497,000 in 2014. Taking into account the non-cash item related to share based compensation costs of $490,000 for the nine month period of 2015 vs $82,000 in 2014, net profits amounts to $1,960,000 in 2015 vs 1,579,000 for the same period in 2014. -- Research and Development investments of $142,000 and $485,000 in Q3 and the nine-months ended September 30, 2015 respectively compared to $179,000 and $593,000 in 2014. -- General and Administration expenses of $521,000 and $1,953,000 in Q3 and the nine-months ended September 30, 2015 respectively compared to $492,000 and $1,376,000 in 2014. The increase in G&A in 2015 compared to 2014 is mostly due to higher depreciation expense and higher share based compensation costs due to the granting of options to all employees at a time when the Company's share price was higher. Share based expense is an accounting charge that does not impact cash flows as no actual payment is made. Although it decreases net profit, it also increases the Company's equity component. -- Sales and Marketing expenses of only $1,000 and $7,000 in Q3 and the nine-months ended September 30, 2015 respectively compared to $6,000 an d $13,000 in 2014, due to the Company's sales strategy to sell mostly through a distribution network. -- The Company had cash and cash equivalents of $811,083 as of September 30, 2015 as compared to $272,845 as of December 31, 2014.
"While this year has not been without challenges, I am extremely pleased with our progress on all fronts, and based on our current order book, believe we will continue this significant momentum into 2016. We have positioned Ceapro for transformational opportunities and we continue to move forward in earnest to realize the full potential of our enabling technologies and unlock significant value in the near and long term," concluded Mr. Gagnon.
.
Consolidated Statements of Net Income and Comprehensive Income
Unaudited
Quarters Nine Months
Ended September 30, Ended September 30,
2015 2014 2015 2014
$ $ $ $
----------------------------------------------------------------------------
Revenue (note 15) 3,079,159 2,444,956 7,233,010 6,831,039
Cost of goods sold 1,195,744 970,410 2,808,359 2,852,316
----------------------------------------------------------------------------
Gross margin 1,883,415 1,474,546 4,424,651 3,978,723
Research and product
development 141,788 178,870 484,530 592,837
General and
administration 521,498 491,580 1,952,656 1,375,647
Sales and marketing 697 6,063 7,370 12,730
Finance costs (note 14) 51,159 67,055 194,933 219,415
----------------------------------------------------------------------------
Income from operations 1,168,273 730,978 1,785,162 1,778,094
Other operating loss
(note 13) (161,819) (40,981) (351,072) (280,702)
----------------------------------------------------------------------------
Income before tax 1,006,454 689,997 1,434,090 1,497,392
Income taxes
Deferred tax recovery - - 36,250 -
----------------------------------------------------------------------------
Total comprehensive
income for the period 1,006,454 689,997 1,470,340 1,497,392
----------------------------------------------------------------------------
Net income per common
share (note 20):
----------------------------------------------------------------------------
Basic 0.02 0.01 0.02 0.02
----------------------------------------------------------------------------
Diluted 0.02 0.01 0.02 0.02
----------------------------------------------------------------------------
Weighted average number
of common shares
outstanding (note 20):
----------------------------------------------------------------------------
Basic 61,843,151 61,228,948 61,685,724 60,725,817
----------------------------------------------------------------------------
Diluted 64,712,580 62,996,492 65,199,635 61,762,838
----------------------------------------------------------------------------
NP says Canopy, rivals waiting on PM to fulfill pledge
2015-11-06 09:11 ET - In the News
Also In the News (C-MT) Mettrum Health Corp
Also In the News (C-OGI) Organigram Holdings Inc
The National Post reports in its Friday, Nov. 6, edition that Prime Minister Justin Trudeau repeatedly promised to legalize marijuana and if his cabinet is any indication, he has no intention of breaking his pledge. The Post's Jen Gerson writes that pot legalization advocacy group Sensible is positive on weed's legal outlook. Sensible spokesman Dana Larsen says: "It's going to take a while to get all this in place and they don't want to be in the middle of a transition in four years. When the next election comes, they will want to have one successful program in place and that's going to take some time." That is because the finer details of Canada's new pot regime will likely fall to the provinces. Nobody yet knows what a legal weed system is going to look like, even what level of government will manage the affair and reap the profits. The Liberals' platform remains unsurprisingly opaque on the topic, promising to "design a new system of strict marijuana sales and distribution," minus the details. Mr. Gerson says Tweed Marijuana (now called Canopy Growth) is licensed by Health Canada to provide medical marijuana. The Post writer says Tweed's ambitions are, understandably, set on the recreational market.
© 2015 Canjex Publishing Ltd. All rights reserved.
This is a bit concerning and should be considering when pondering GLH´s merits as an ivestment vehicle IMHO. DYODD
https://www.newcannabisventures.com/investing-in-cannabis-businesses-could-create-risk-for-foreigners/
Investing in Cannabis Businesses Could Create Risk for Foreigners
October 30, 2015 at 5:30 pm
Canna Law Group
As if there aren’t enough challenges for entrepreneurs and investors in the cannabis industry, the Canna Law Group’s blog discusses yet another one: Investing in U.S. cannabis operations as a foreigner. This is a strategy that has been pursued by at least two publicly-traded companies, Golden Leaf Holdings and Nutritional High, both of which trade on the CSE in Canada. The main risk is deportation:
Though we are not aware of any foreign investor being deported for investing in a business that provides ancillary services or products to the cannabis industry, it is always possible that a zealous prosecutor or the USCIS will seek deportation by asserting that even ancillary businesses violate U.S. law by acting as an accessory to businesses that violate the Federal Controlled Substances Act. The deportation risks are greater for foreign investors who put their money into businesses that grow, process or sell cannabis.
Read Dylan Moore’s “Foreign Investors in the U.S. Cannabis Industry Face Their Own Special Risks”: http://www.cannalawblog.com/foreign-investors-in-the-u-s-cannabis-industry-face-their-own-special-risks/
kozuh !!!!
My congratulationes to the Pueblo of Texas for doing the right thing with their vote !!! Thank you Grasias !!!
http://pointstreaksites.com/view/gamingnation/news/news_348643
P.D: Not exactly a mining stock though but still a very good one IMHO.
Bob, think you might like the value this stock represents. My largest position right now. Started buying at 7c and never sold a single share yet as it is insanely undervalued after current announced deal (only pending of vote by end of December):
EUO.V
Largest bargain with about best risk/reward ratio on the Venture right now. 16c gets you close to 20c in cash with no debt, a guaranteed stream of income for 6 to 9 years (the best of 1.5M/year or 5% of contracts awarded to SICPA), one existing line of business (Xemetrix) and blue sky scenario type of technology to prove itself in 1Q2016 (XWinSys). cant get any better IMHO.
http://www.eurocontrol.ca/data/presentation/files/EUO-Presentation-November-2015.pdf
http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aEUO-2323276&symbol=EUO®ion=C
Eurocontrol firms up sale of Global Fluids to Sicpa
2015-11-06 17:19 ET - News Release
Mr. Bruce Rowlands reports
EUROCONTROL ANNOUNCES PURCHASE AGREEMENT WITH SICPA FOR SALE OF SUBSIDIARY GLOBAL FLUIDS INTERNATIONAL S.A. AND EXCLUSIVE LONG-TERM SUPPLY, MAINTENANCE AND SUPPORT AGREEMENT
Eurocontrol Technics Group Inc., further to the previous related disclosure, has entered into a definitive purchase agreement, pursuant to which the company has agreed to sell 100 per cent of its wholly owned subsidiary, Global Fluids International S.A. (GFI), to Sicpa Finance S.A. (Sicpa), a subsidiary of Sicpa S.A., each a privately owned company based in Switzerland, in exchange for cash and postclosing earn-out payments. As a key part of the transaction, the company, through its wholly owned subsidiary, Xenemetrix Ltd., has agreed to enter into an exclusive long-term supply, maintenance and support agreement, pursuant to which Xenemetrix would continue to supply to GFI, and GFI would continue to purchase, Xenemetrix's products and services currently used by GFI in its business, in each case, on an exclusive basis within the oil and gas marking and monitoring field of GFI's current operations.
Highlights of the transaction include the following:
The transaction unlocks shareholder value by significantly increasing its available cash to finance the development of its existing business operations that will be retained after the sale of GFI and to take advantage of new opportunities for growth within the authentication, certification markets.
The transaction will create a long-term relationship between Eurocontrol and Sicpa, whereby Eurocontrol will participate in future growth of GFI's business through postclosing earn-out and additional payments (as described below). These payments are to be calculated based on net revenues of GFI from all new contracts for the sale of not only existing products, but also on the sale of related logistics services, which GFI plans to offer and which are expected to significantly enhance GFI's current offering for fuel marking projects, allowing for a more robust integrated Petromark offering.
The relationship with Sicpa is intended to allow Eurocontrol to accelerate the fulfilment of its current objective of expanding Xenemetrix's existing business through its continuing support of GFI's business, on an exclusive basis, in the field of oil and gas marking and monitoring under the supply agreement.
The transaction will also allow Eurocontrol to enhance its current strategy of expanding Xenemetrix's business in the design, development, production and marketing of energy-dispersive X-ray fluorescence (ED-XRF) systems in the marine sector and in other potential markets, and to continue its development of its current XwinSys business, dedicated to the design, manufacture and marketing of novel solutions based on ED-XRF, combined with automated 3-D vision for the semiconductor and related industries.
The consideration payable to the company for the sale of GFI is as follows:
Cash consideration payable to the company by Sicpa on closing of $16-million (less the $250,000 deposit received by the company and $286,000 in transaction payments, and assuming that, on closing, GFI has positive working capital of $1-million), subject to a working capital adjustment;
Postclosing earn-out payments equal to 5 per cent of the net revenues earned by GFI from contracts entered into by it following the execution of the purchase agreement and during the period ending six years from the closing of the transaction, with a minimum guaranteed of $1.5-million per year for the six-year earn-out period (total payment of at least $9-million);
Additional postclosing payments equal to 5 per cent of the net revenues earned by GFI from contracts signed during the fourth through sixth years following closing paid until the third anniversary of such contracts;
The settlement of loan amounts owing by Eurocontrol to GFI.
Bruce Rowlands, chairman and chief executive officer of Eurocontrol, stated: "This is a tremendous deal for both Eurocontrol and Sicpa. The synergic fit of our core expertise will create a highly compelling technology solution for the fuel authentication market that we believe will contribute to the advancement of Xenemetrix's business and will provide the company with new capital to fund its future growth and a continuing revenue stream through earn-out and additional payments. We look forward to working with the Sicpa team through Xenemetrix and its support of GFI's Petromark solution."
Gilles Leraille, executive vice-president, business development, of Sicpa, stated: "The signing of the final purchase agreement for GFI constitutes, for the Sicpa group, a breakthrough for its existing traceability business that will now be extended to the promising oil marking and monitoring field. The basis of this transaction is the good synergy between Sicpa and GFI, which both offer comprehensive solutions in their respective fields for the authentication and monitoring of key tax carrying goods and items. Both companies work exclusively with governmental authorities in different countries, where Sicpa already has sizable operations and therefore where the introduction of GFI will be facilitated. Equally, both organizations are used to providing top-of-the-range, latest technology-based solutions, pledging at the same time to provide uncontaminated and robust data to state institutions. Another unique characteristic of this transaction is the partnership type of agreement that is envisaged for a noticeable period of time, instead of the typical seller-buyer relationship. In this way, the two parties' teams can be harnessed to maximize the chances of success and the realization of a promising upside for both Eurocontrol and the Sicpa group."
Other key terms of the purchase agreement include: customary representations, warranties and covenants, confidentiality and exclusive dealing undertakings for the period prior to closing, termination provisions and a matching right of the buyer in the event of any proposed alternative transaction, involving GFI or Xenemetrix, prior to closing, and a right of first refusal option to purchase all of the equity of Xenemetrix in the event the company or Xenemetrix intends to enter into a transaction resulting in a sale of Xenemetrix or affecting the company's control of Xenemetrix.
While the proposed sale of GFI to Sicpa is an arm's-length transaction, in accordance with the policies of the TSX Venture Exchange, the transaction is a reviewable disposition and subject to the prior approval of the TSX-V, because it involves a sale of more than 50 per cent of the company's assets, business or undertaking. The TSX-V generally requires shareholder approval for such transactions. In this regard, the company will hold a special meeting of shareholders on Dec. 18, 2015, at which approval of the transaction will be sought, and shareholders of record as of Nov. 9, 2015, will be entitled to vote their common shares of the company at the meeting. Copies of the purchase agreement and of the management information circular for the special meeting will be filed with Canadian securities regulators and will be available on the SEDAR profile of the company.
A special committee of independent directors of the company reviewed, supervised and participated directly in the negotiation and settlement of the terms of the transaction. The special committee, and the company's board of directors, has unanimously approved the transaction, which it has determined is in the best interests of the company and its shareholders, and recommends that shareholders vote in favour of the transaction at the special meeting of the company's shareholders. Each of the officers and directors of Eurocontrol who hold securities of the company have entered into an agreement supporting the transaction, pursuant to which they will vote any common shares of the company that are held by them in favor of the approval of the transaction.
The closing of the transaction is expected to take place following the special meeting of shareholders and prior to Jan. 4, 2016, subject to the above-mentioned approval of the TSX-V and the company's shareholders, and the satisfaction of a number of closing conditions as described in the purchase agreement.
About Sicpa
Sicpa is a leading global provider of secured authentication, identification, and traceability solutions and services. Founded in 1927 and headquartered in Lausanne, Switzerland, Sicpa is a long-trusted adviser to governments, central banks, high-security printers and industry. With high-technology security inks at the core of its expertise, the company protects the majority of the world's banknotes, security and value documents from the threats of counterfeiting and fraud. Sicpa also integrates ink-based covert features and sophisticated traceability technologies to offer solutions and services to governments and industry, ensuring product authentication, traceability and protection, as well as tax reconciliation. Operating on five continents, Sicpa is a global company providing technologies and services to most nations worldwide.
We seek Safe Harbor.
Yup, very good catch you did there :)
Have a look at EUO.V. Largest bargain with about best risk/reward ratio on the Venture right now. 16c gets you close to 20c in cash with no debt, a guaranteed stream of income for 6 to 9 years (the best of 1.5M/year or 5% of contracts awarded to SICPA), one existing line of business (Xemetrix) and blue sky scenario type of technology to prove itself in 1Q2016 (XWinSys). cant get any better IMHO.
http://www.eurocontrol.ca/data/presentation/files/EUO-Presentation-November-2015.pdf
http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aEUO-2323276&symbol=EUO®ion=C
Eurocontrol firms up sale of Global Fluids to Sicpa
2015-11-06 17:19 ET - News Release
Mr. Bruce Rowlands reports
EUROCONTROL ANNOUNCES PURCHASE AGREEMENT WITH SICPA FOR SALE OF SUBSIDIARY GLOBAL FLUIDS INTERNATIONAL S.A. AND EXCLUSIVE LONG-TERM SUPPLY, MAINTENANCE AND SUPPORT AGREEMENT
Eurocontrol Technics Group Inc., further to the previous related disclosure, has entered into a definitive purchase agreement, pursuant to which the company has agreed to sell 100 per cent of its wholly owned subsidiary, Global Fluids International S.A. (GFI), to Sicpa Finance S.A. (Sicpa), a subsidiary of Sicpa S.A., each a privately owned company based in Switzerland, in exchange for cash and postclosing earn-out payments. As a key part of the transaction, the company, through its wholly owned subsidiary, Xenemetrix Ltd., has agreed to enter into an exclusive long-term supply, maintenance and support agreement, pursuant to which Xenemetrix would continue to supply to GFI, and GFI would continue to purchase, Xenemetrix's products and services currently used by GFI in its business, in each case, on an exclusive basis within the oil and gas marking and monitoring field of GFI's current operations.
Highlights of the transaction include the following:
The transaction unlocks shareholder value by significantly increasing its available cash to finance the development of its existing business operations that will be retained after the sale of GFI and to take advantage of new opportunities for growth within the authentication, certification markets.
The transaction will create a long-term relationship between Eurocontrol and Sicpa, whereby Eurocontrol will participate in future growth of GFI's business through postclosing earn-out and additional payments (as described below). These payments are to be calculated based on net revenues of GFI from all new contracts for the sale of not only existing products, but also on the sale of related logistics services, which GFI plans to offer and which are expected to significantly enhance GFI's current offering for fuel marking projects, allowing for a more robust integrated Petromark offering.
The relationship with Sicpa is intended to allow Eurocontrol to accelerate the fulfilment of its current objective of expanding Xenemetrix's existing business through its continuing support of GFI's business, on an exclusive basis, in the field of oil and gas marking and monitoring under the supply agreement.
The transaction will also allow Eurocontrol to enhance its current strategy of expanding Xenemetrix's business in the design, development, production and marketing of energy-dispersive X-ray fluorescence (ED-XRF) systems in the marine sector and in other potential markets, and to continue its development of its current XwinSys business, dedicated to the design, manufacture and marketing of novel solutions based on ED-XRF, combined with automated 3-D vision for the semiconductor and related industries.
The consideration payable to the company for the sale of GFI is as follows:
Cash consideration payable to the company by Sicpa on closing of $16-million (less the $250,000 deposit received by the company and $286,000 in transaction payments, and assuming that, on closing, GFI has positive working capital of $1-million), subject to a working capital adjustment;
Postclosing earn-out payments equal to 5 per cent of the net revenues earned by GFI from contracts entered into by it following the execution of the purchase agreement and during the period ending six years from the closing of the transaction, with a minimum guaranteed of $1.5-million per year for the six-year earn-out period (total payment of at least $9-million);
Additional postclosing payments equal to 5 per cent of the net revenues earned by GFI from contracts signed during the fourth through sixth years following closing paid until the third anniversary of such contracts;
The settlement of loan amounts owing by Eurocontrol to GFI.
Bruce Rowlands, chairman and chief executive officer of Eurocontrol, stated: "This is a tremendous deal for both Eurocontrol and Sicpa. The synergic fit of our core expertise will create a highly compelling technology solution for the fuel authentication market that we believe will contribute to the advancement of Xenemetrix's business and will provide the company with new capital to fund its future growth and a continuing revenue stream through earn-out and additional payments. We look forward to working with the Sicpa team through Xenemetrix and its support of GFI's Petromark solution."
Gilles Leraille, executive vice-president, business development, of Sicpa, stated: "The signing of the final purchase agreement for GFI constitutes, for the Sicpa group, a breakthrough for its existing traceability business that will now be extended to the promising oil marking and monitoring field. The basis of this transaction is the good synergy between Sicpa and GFI, which both offer comprehensive solutions in their respective fields for the authentication and monitoring of key tax carrying goods and items. Both companies work exclusively with governmental authorities in different countries, where Sicpa already has sizable operations and therefore where the introduction of GFI will be facilitated. Equally, both organizations are used to providing top-of-the-range, latest technology-based solutions, pledging at the same time to provide uncontaminated and robust data to state institutions. Another unique characteristic of this transaction is the partnership type of agreement that is envisaged for a noticeable period of time, instead of the typical seller-buyer relationship. In this way, the two parties' teams can be harnessed to maximize the chances of success and the realization of a promising upside for both Eurocontrol and the Sicpa group."
Other key terms of the purchase agreement include: customary representations, warranties and covenants, confidentiality and exclusive dealing undertakings for the period prior to closing, termination provisions and a matching right of the buyer in the event of any proposed alternative transaction, involving GFI or Xenemetrix, prior to closing, and a right of first refusal option to purchase all of the equity of Xenemetrix in the event the company or Xenemetrix intends to enter into a transaction resulting in a sale of Xenemetrix or affecting the company's control of Xenemetrix.
While the proposed sale of GFI to Sicpa is an arm's-length transaction, in accordance with the policies of the TSX Venture Exchange, the transaction is a reviewable disposition and subject to the prior approval of the TSX-V, because it involves a sale of more than 50 per cent of the company's assets, business or undertaking. The TSX-V generally requires shareholder approval for such transactions. In this regard, the company will hold a special meeting of shareholders on Dec. 18, 2015, at which approval of the transaction will be sought, and shareholders of record as of Nov. 9, 2015, will be entitled to vote their common shares of the company at the meeting. Copies of the purchase agreement and of the management information circular for the special meeting will be filed with Canadian securities regulators and will be available on the SEDAR profile of the company.
A special committee of independent directors of the company reviewed, supervised and participated directly in the negotiation and settlement of the terms of the transaction. The special committee, and the company's board of directors, has unanimously approved the transaction, which it has determined is in the best interests of the company and its shareholders, and recommends that shareholders vote in favour of the transaction at the special meeting of the company's shareholders. Each of the officers and directors of Eurocontrol who hold securities of the company have entered into an agreement supporting the transaction, pursuant to which they will vote any common shares of the company that are held by them in favor of the approval of the transaction.
The closing of the transaction is expected to take place following the special meeting of shareholders and prior to Jan. 4, 2016, subject to the above-mentioned approval of the TSX-V and the company's shareholders, and the satisfaction of a number of closing conditions as described in the purchase agreement.
About Sicpa
Sicpa is a leading global provider of secured authentication, identification, and traceability solutions and services. Founded in 1927 and headquartered in Lausanne, Switzerland, Sicpa is a long-trusted adviser to governments, central banks, high-security printers and industry. With high-technology security inks at the core of its expertise, the company protects the majority of the world's banknotes, security and value documents from the threats of counterfeiting and fraud. Sicpa also integrates ink-based covert features and sophisticated traceability technologies to offer solutions and services to governments and industry, ensuring product authentication, traceability and protection, as well as tax reconciliation. Operating on five continents, Sicpa is a global company providing technologies and services to most nations worldwide.
We seek Safe Harbor.
BRM.V: IMHO I think it will be difficult to see it at MA200 as it stands at 28c right now. Looks to have finally bottomed out with the deranged TD SEC now mostly out of the way as it now only has small asks and has stopped his dumping at about any bid he finds....
https://www.newcannabisventures.com/investing-in-cannabis-businesses-could-create-risk-for-foreigners/
As if there aren’t enough challenges for entrepreneurs and investors in the cannabis industry, the Canna Law Group’s blog discusses yet another one: Investing in U.S. cannabis operations as a foreigner. This is a strategy that has been pursued by at least two publicly-traded companies, Golden Leaf Holdings and Nutritional High, both of which trade on the CSE in Canada. The main risk is deportation:
Though we are not aware of any foreign investor being deported for investing in a business that provides ancillary services or products to the cannabis industry, it is always possible that a zealous prosecutor or the USCIS will seek deportation by asserting that even ancillary businesses violate U.S. law by acting as an accessory to businesses that violate the Federal Controlled Substances Act. The deportation risks are greater for foreign investors who put their money into businesses that grow, process or sell cannabis.
Read Dylan Moore’s “Foreign Investors in the U.S. Cannabis Industry Face Their Own Special Risks”: http://www.cannalawblog.com/foreign-investors-in-the-u-s-cannabis-industry-face-their-own-special-risks/
PARTNER MESSAGE
CANNABIS COMPANY NEWS, CANNABIS INVESTOR NEWS, PUBLICLY TRADED CANNABIS STOCK NEWS
IN THIS ARTICLE: CANNA LAW GROUP, GOLDEN LEAF HOLDINGS, NUTRITIONAL HIGH
Related News
Stephen Keen Explains Surna’s Cannabis Growing Technology
Stephen Keen Explains Surna’s Cannabis Growing Technology
Growth Surges at Canadian Cannabis Producer Aphria
Growth Surges at Canadian Cannabis Producer Aphria
Trademark Dispute Over EdiPure Cannabis Brand
Trademark Dispute Over EdiPure Cannabis Brand
SUBSCRIBE
News covering the most promising private & public companies in the cannabis industry
Your E-Mail
GO
SPOTLIGHT
Steep Hill - Cannabis Quality Assurance
Cannabis Advertising
LATEST NEWS
mettrum-medical-marijuana-bottles
Sales Soar at Canadian Medical Cannabis Producer Mettrum
November 11, 2015
Maureen McNamara
5 Critical Safety Steps for Cannabis Edibles Manufacturers
November 11, 2015
Hello MD logo
Cannabis Companies Capitalizing As Traditional Investors Warm Up
November 11, 2015
Cannabis Prices Bounce Back
October 30, 2015 at 2:03 pm
Cannabis Benchmarks 103015
Each week, New Leaf Data Services publishes a weekly assessment of cannabis prices by evaluating the legal prices for a standardized potency across a variety of markets. From an overall perspective, prices increased by almost 3% this week to $1839 per pound from $1790, with most reported transactions between $1700 and $2450 per pound. The report stated that outdoor prices averaged $1500, while greenhouse and indoor were $1945 and $2287, respectively.
Regionally, California fell slightly to $1525, while Colorado increased 2% to $1915. Oregon rose 1% to $1984 per pound, while Washington bounced back 6% to $1530. The report details several regional observations, including black market prices, and it also shares a model that predicts forward prices.
View the entire report: http://www.cannabisbenchmarks.com/weekly-report.html
MARKET RESEARCH