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https://www.newsfilecorp.com/release/70996
Red Light Holland Announces Exercise of Warrants for Gross Proceeds of Over $5 Million
Toronto, Ontario--(Newsfile Corp. - December 24, 2020) - Red Light Holland Corp. (CSE:TRIP) (FSE:4YX) (OTC Pink:TRUFF) ("Red Light Holland" or the "Company") is pleased to announce that over the course of the last two weeks the Company has received over $5 million in gross proceeds from the exercise of warrants and company stock options. To date, the majority of warrants issued in connection with the Company's last private placement, which closed in tranches in June and July of this year, have been exercised at an exercise price of $0.26 per share.
As a result of the recent exercises of warrants and company stock options, the Company has over $12.2 Million of cash and marketable securities.
"The long and the short of it is, the warrant exercises clearly strengthen our company's cash position and it continues to show a vote of confidence in Red Light Holland's team, current business model - which we are proud to say is unique in the Psychedelic Sector - our brand recognition and our future growth prospects. Considering our early progress (growing, harvesting, packaging and selling Magic Truffles) and our intelligent spending to date, plus our strong balance sheet equates to us being really excited for 2021," said Todd Shapiro, CEO and Director of Red Light Holland. "And seeing as we are putting out this press release, on behalf of all of us at RLH, we thank you for your support and wish you an amazing, happy, safe and healthy holiday season. Hopefully you can live in the moment, compartmentalize and find ways to have fun - as the Wisdom Truffle would say!"
About Red Light Holland Corp.
The Company is an Ontario-based corporation positioning itself to engage in the production, growth and sale (through existing Smart Shops operators and an advanced e-commerce platform) of a premium brand of magic truffles to the legal market within the Netherlands, in accordance with the highest standards, in compliance with all applicable laws.
For additional information on the Company:
Todd Shapiro
Chief Executive Officer & Director
Tel: 647-204-7129
Email: todd@redlighttruffles.com
Website: https://redlighttruffles.com/
Forward-Looking Statements
Neither the Canadian Securities Exchange (the "CSE") nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Red Light Holland's control.
Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward- looking statements contained herein include, but are not limited to, future growth prospects. Although each of Red Light Holland believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward- looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.
Not for distribution to United States newswire services or for dissemination in the United States.
https://www.businesswire.com/news/home/20201215005684/en/FSD-Pharma-Announces-First-Patient-Randomized-in-Phase-2-Trial-of-FSD201-for-the-Treatment-of-Hospitalized-Patients-with-COVID-19
FSD Pharma Announces First Patient Randomized in Phase 2 Trial of FSD201 for the Treatment of Hospitalized Patients with COVID-19
-----FDA has authorized randomized, controlled, double-blind study on 352 patients. The Company is expected to conduct this trial in 25-30 Medical Centers and Hospitals in North America
December 15, 2020 08:35 AM Eastern Standard Time
TORONTO--(BUSINESS WIRE)--FSD Pharma Inc. (Nasdaq: HUGE) (CSE: HUGE) (“FSD Pharma” or the “Company”) today announced the dosing of the first patient in its Phase 2a clinical trial of FSD201 (ultramicronized palmitoylethanolamide, or ultramicronized PEA) for the treatment of hospitalized patients with COVID-19.
COVID-19 Trial Design
The FSD201 COVID-19 Trial is a randomized, controlled, double-blind, multicenter study, conducted on 352 patients to assess the efficacy and safety of FSD201 dosed at 600mg or 1200mg twice-daily, together with standard of care ("SOC") compared to SOC alone in hospitalized patients with documented COVID-19 disease. Eligible patients will present symptoms consistent with influenza/coronavirus signs (fever, dry cough, malaise, difficulty breathing) and newly documented positive COVID-19 disease.
The primary objective of the FSD201 COVID-19 Trial is to determine whether FSD201 plus SOC provides a significant improvement in the clinical status of patients (e.g., shorter time to symptom relief). Secondary objectives of the FSD201 COVID-19 Trial include determining whether FSD201 plus SOC demonstrates additional benefit in terms of safety, objective assessments such as length of time to normalization of fever, length of time to improvement of oxygen saturation and length of time to clinical progression, including time to mechanical ventilation or hospitalization, and length of hospital stay. The exploratory endpoint is cytokine clearance as measured by Enzyme Linked Immunosorbent Assay (ELISA). The treatment period for patients in the FSD201 COVID-19 Trial is 14 days and the primary end point is determined at 28 days.
The Company is not making any express or implied claims that its product has the ability to eliminate, cure or contain the COVID-19 (or SARS-2 Coronavirus) at this time.
About FSD Pharma
FSD Pharma Inc. is a publicly-traded holding company.
FSD Pharma BioSciences, Inc., a wholly-owned subsidiary, is a specialty biotech pharmaceutical R&D company focused on developing over time multiple applications of its lead compound, FSD201, by down-regulating the cytokines to effectuate an anti-inflammatory response.
The Company filed an IND with the FDA on August 28, 2020 and was approved on September 25, 2020 to initiate a phase 2 clinical trial for the use of FSD201 to treat COVID-19, the disease caused by the SARS-CoV-2 virus.
Severe COVID-19 is characterized by an over-exuberant inflammatory response that may lead to a cytokine storm and ultimately death. The Company is focused on developing FSD201 for its anti-inflammatory properties to avoid the cytokine storm associated with acute lung injury in hospitalized COVID-19 patients.
Forward-Looking Statements
Neither the Canadian Securities Exchange nor its regulation services provider accept responsibility for the adequacy or accuracy of this press release.
Certain statements contained in this press release constitute “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian and U.S. securities laws (collectively, “Forward-Looking Information”). Forward-Looking Information includes, but is not limited to, information with respect to FSD Pharma's strategy, plans or future financial or operating performance, receipt of any FDA approvals, the completion of any trials regarding the use of FSD201 to treat COVID-19, the safety of FSD201 or whether FSD201 may be effective in treating COVID-19, the costs associated with such planned trials and our belief that we have sufficient cash to complete the Phase 2 study, our ability to obtain required funding and the terms and timing thereof, the ultimate development of any FDA approved synthetic compounds, the expected insurance recovery related to the settlement agreement, the completion of the settlement contemplated in the settlement agreement and the timing and closing of the sale of certain non-core real estate assets. The use of words such as “budget”, “intend”, “anticipate”, “believe”, “expect”, “plan”, “forecast”, “future”, “target”, “project”, “capacity”, “could”, “should”, “focus”, “proposed”, “scheduled”, “outlook”, “potential”, “estimate” and other similar words, and similar expressions and statements relating to matters that are not historical facts, or statements that certain events or conditions “may” or “will” occur, are intended to identify Forward-Looking Information and are based on FSD Pharma’s current beliefs or assumptions as to the outcome and timing of such future events. Such beliefs or assumptions necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such Forward-Looking Information. Certain of these risks and uncertainties are described in the Company’s continuous disclosure filings available under the Company’s SEDAR profile at www.sedar.com and under the Company’s EDGAR profile at www.sec.gov. Forward-Looking Information is not a guarantee of performance. The Forward-Looking Information contained in this press release is made as of the date hereof, and FSD Pharma is not obligated to update or revise any Forward- Looking Information, whether as a result of new information, future events or otherwise, except as required by law. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on Forward Looking-Information. The foregoing statements expressly qualify any Forward-Looking Information contained herein.
https://www.juniorminingnetwork.com/junior-miner-news/press-releases/540-tsx-venture/grat/89967-gratomic-retains-marketing-consultants.html
Gratomic Retains Marketing Consultants
TSX VENTURE: GRAT
www.gratomic.ca
Mr. Arno Brand reports:
TORONTO, ON / ACCESSWIRE / December 21, 2020 / Gratomic Inc. ("GRAT" or the "Company") (TSXV:GRAT) (FRA:CB81) (WKN:A143MR) (OTCQB:CBULF) is pleased to announce that the Company has retained Amherst Baer Consultancy Corp. ("ABCC"), of Langley British Columbia, as investor relations consultants to prepare a marketing campaign for the Company. ABCC will be paid US$100,000 per month for a three month contract. The contract can be terminated at any time on 30 days' notice. ABCC operates out of North Vancouver, BC and is owned by Miss Lisa Little, ABCC provides digital media marketing services for issuers and non-issuers. Neither ABCC nor any representatives of ABCC own any securities of Gratomic directly or indirectly or have any intention to acquire any securities of Gratomic. The services provided will include:
Creation of copywriting by CFA
Creation of video interviews with key senior management
The sale of digital media traffic
Hosting of copywriting at www.investorsscene.com
The Company is also pleased to announce that it has retained Winning Media LLC ("Winning"), of Houston Texas, to provide strategic digital media services, marketing, and data analytics services in the United States. Winning will be paid a fee of US$150,000 for a one month contract. Neither Winning nor any representatives of Winning own any securities of Gratomic directly or indirectly or have any intention to acquire any securities of Gratomic.
The appointments of ABC and Winning are subject to the Company making certain filings with the TSX Venture Exchange.
The Company engaged Amherst Baer Consultancy Corp., to provide digital media services, vendor management, marketing and data analytics services to the Company, and the Company budgeted USD$300,000 for such services over an expected three-month period. Amherst Baer is a full-service advertising agency, that owns and operates a proprietary ad exchange and who is partnered with additional ad exchanges whose integrated SSPs (supply side platforms) result in access to 2-10 billion daily North American ad impressions. Neither Amherst Baer nor any of its directors and officers own any securities of the Company.
About Gratomic Inc.
Established in 2014, Gratomic is an advanced materials company focused on low-cost mine to market commercialization of carbon-neutral, Eco-friendly, high purity vein graphite and is set to become a key player in EV and Renewable Resource supply chains. Gratomic Inc. is a leader among peers, anticipating full operational capabilities in late 2020 and aiming to transition to an open pit operation as early as the end of 2021.
Gratomic is in the process of solidifying its development plans for micronization and spheronization of its clean Aukam graphite. This significant milestone is a small, additional step in the Company's existing Eco-friendly processing cycle and will allow its naturally high purity graphite to meet ideal North American battery grade standards for use in Li-ion battery anodes.
The Company promises to deliver mine-to-market traceability and guaranteed quality control. This will be accomplished by providing documented tracking on all graphite generated at its flagship Aukam Graphite Project. The tracking will begin at Aukam and will be verified at every stage during transport.
Two off-take purchase agreements are currently held for lump-vein graphite sourced from Gratomic's Aukam Graphite Project in Namibia, Africa. Fulfillment of the contracts is slated to begin in 2021. The agreements exist with TODAQ and Phu Sumika.
TODAQ is an innovative tech company and will partner with Gratomic on its mine-to-market commodity tracking.
Phu Sumika is a large global graphite supplier to battery and lubrication companies.
Gratomic Inc. is listed on the TSX Venture Exchange under the symbol GRAT.
For more information: visit the website at www.gratomic.ca or contact:
Arno Brand at abrand@gratomic.ca or 416 561-4095
Subscribe to the link below to receive news and updates
https://gratomic.ca/contact/
"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
Forward Looking Statements:
This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com
Gratomic Approved for Trading on the OTCQB Venture Market
Gratomic OTCQB
https://www.newsfilecorp.com/release/69854/Red-Light-Holland-Announces-Intention-to-Acquire-Controlling-Interest-in-Psychedelic-Insights-Providing-Psychological-Guidance-of-Psychedelic-Experiences-with-Truffles-in-the-Netherlands
Red Light Holland Announces Intention to Acquire Controlling Interest in Psychedelic Insights Providing Psychological Guidance of Psychedelic Experiences with Truffles in the Netherlands
Toronto, Ontario--(Newsfile Corp. - December 9, 2020) - Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (OTC: TRUFF) ("Red Light Holland") is pleased to announce it has entered into a non-binding letter of intent to acquire 51% of Psychedelic Insights in Amsterdam, the Netherlands. Psychedelic Insights currently provides psychedelic assistance to clients from all over the world, who are in need and wanting to try a safe and psychological guided experience. Psychedelic Insights' dedicated and compassionate facilitators, including a team of psychiatrists, psychologists, therapists and scientists, provide psychological guidance of psychedelic experiences in many different categories including: (i) individuals or small groups (ii) psychedelic palliative care (iii) Re-connecting Veterans and (iv) provides global mental health screening. Psychedelic Insights portfolio also includes unique therapist training and psychedelic assisted leadership coaching.
As part of the expected 51% acquisition, a condition in the agreement will include: an exclusive supply agreement with Red Light Holland's Truffles, grown from Red Light Holland's facility in Horst, Netherlands with the intention to be used solely by Psychedelic Insights' clients.
"I find it so interesting that behind the scenes we've been working on this deal for months in the Netherlands, and we just happened to agree to it on the same day Canada granted 17 healthcare professionals to possess and use psilocybin for professional training in psilocybin therapy," said CEO Todd Shapiro. "Luc Van Poelje, CEO of Psychedelic Insights and his team have a very professional and compassionate business and we are looking forward to potentially helping it grow, because of the capital Red Light Holland can provide. There is a careful due diligence process, but we are very excited at this potential to create another alternative revenue stream as we stay true to our mission of helping people gain access to psilocybin via our Red Light Holland Truffles, responsibly."
"Our team of psychiatrists, psychologists, therapists and scientists at Psychedelic Insights are all excited to potentially be partnering with Red Light Holland so we can continue to grow our psychedelic assisted service to clients from all over the world, who are in need and wanting to try a safe and psychologically guided experience. Our dedicated and compassionate facilitators are also pleased to potentially use Red Light Holland's Truffles, exclusively and are pleased at this intention to grow our business so ultimately we can hopefully help more people in need," added Luc Van Poelje, CEO Psychedelic Insights.
Recently, Red Light Holland announced a non-binding letter of intent with Halo Labs Inc. ("Halo") for the purposes of creating a joint venture to become a licensed psilocybin manufacturer to supply psilocybin products to licensed service centers in the State of Oregon, and to explore other potential business opportunities in this new regulated market, subject to compliance with all applicable Oregon laws and regulations. The planned acquisition of a majority interest in Psychedelic Insights in The Netherlands keeps in line with the aforementioned theme and future plans of Red Light Holland's potentially being involved (in multiple countries) in legal psilocybin-assisted initiatives.
In Canada on December 8th, 2020, 17 healthcare professionals were approved by the Canadian Federal Health Minister, Patty Hajdu, to possess and use psilocybin for professional training in psilocybin therapy. The approved healthcare professionals include psychologists, psychiatrists, clinical counselors, social workers, general practitioners, and nurses.
Further details will be announced once made available.
About Psychedelic Insights
Psychedelic Insights provides legal, safe and psychological guidance of magic (psilocybin) truffle experiences based in Amsterdam, The Netherlands.
You can learn more about the company here: https://www.psychedelicinsights.com/
About Red Light Holland Corp.
Red Light Holland is an Ontario-based corporation positioning itself to engage in the production, growth and sale (through existing Smart Shops operators and an advanced e-commerce platform) of a premium brand of magic truffles to the legal market within the Netherlands, in accordance with the highest standards, in compliance with all applicable laws.
For additional information on Red Light Holland:
Todd Shapiro
Chief Executive Officer & Director
Tel: 647-204-7129
Email: todd@redlighttruffles.com
Website: https://redlighttruffles.com/
Forward-Looking Statements
Neither the Canadian Securities Exchange (the "CSE") nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Red Light Holland and Halo's control.
Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward- looking statements contained herein include, but are not limited to, information the timing and other aspects of the non-binding letter of intent with Psychedelic Insights, and the proposed purchase of a majority interest. Although each of Red Light Holland and Psychedelic Insights believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward- looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. In particular, there is no guarantee that the purchase of the 51% ownership of Psychedelic Insights will proceed, or if it does proceed it will reflect the understanding of the parties as of the date of this release. As well, there is no guarantee that the Red Light Holland supply agreement of Red Light Holland's truffles to be used by Psychedelic Insights exclusively will proceed, or if it does proceed it will reflect the understanding of the parties as of the date of this release. Also, there is no guarantee that the Red Light Holland and Halo Labs joint venture will proceed, or if it does proceed it will reflect the understanding of the parties as of the date of this release.The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.
Not for distribution to United States newswire services or for dissemination in the United States.
https://www.newsfilecorp.com/release/69740
Red Light Holland Announces Logo Redesign Contest with Russell Peters and Khloë Including $15,000 in Prizes
$TRIP
Red Light Holland Announces Logo Redesign Contest with Russell Peters and Khloë Including $15,000 in Prizes
Toronto, Ontario--(Newsfile Corp. - December 8, 2020) - Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (OTC: TRUFF) ("Red Light Holland") is pleased to announce the company will be launching a Logo Redesign Contest on December 14th, 2020 at 8:30am, on multiple social media channels. The premise of the Red Light Holland Logo Redesign Contest is to receive input from graphic designers, artists, day dreamers, psychedelic advocates, influencers, brand builders, creative types, even non creative types - essentially anybody and everybody, who would like to contribute to helping build Red Light Holland's Brand, reflecting those who support our mission of providing access, while being inclusionary and giving back.
Red Light Holland will announce the rules and regulations for the Logo Redesign Contest on December 14th, 2020 at 8:30am where it is expected that participants will be encouraged to go to social media to make their best pitch as to why they should be a part of the Red Light Holland Logo Redesign Committee, joining Chief Creative Officer Russell Peters (4 million Twitter followers, 1.1 million Facebook likes, and 399,000 Instagram followers), and Clothing Brand Ambassador Khloë Terae, (2.4 million followers on Instagram, 2.2 million likes on Facebook, and 647,000 followers on Twitter.) Ultimately, three (3) winners will be chosen before the new year to join the Redesign Committee. Each of the three (3) winners will receive C$5000.00 for their participation in helping Red Light Holland design a new logo, expected to premier early in 2021.
"When Todd pitched this idea to me, my initial response was a rare one because I replied - that's not a bad idea at all!" said Russell Peters, Red Light Holland Chief Creative Officer. "We are excited to hear, read and see participants' reasons on Social Media as to why they should be chosen to be a part of this committee with Khloë and me for Red Light Holland's Logo Redesign Contest. We are elated to put up $15,000 (CND) to the winners for their creative input. This is right up our alley because it's outside of the box, it connects with people, it's collaborative and it's fun."
"As our Brand grows, I really wanted to have a logo that represented and reflected those who support us and believe in the future of legal access to psychedelics through education and information. Also, because of the current tough economic times, collectively as a company we were thinking of ways to give back, especially during the holiday season," said Todd Shapiro, Red Light Holland CEO and Director. "Personally the original/retro logo will always be special to me, but creating a committee with the likes of Russell Peters and Khloë is amazing. This creative initiative to add three winners, who no doubt will be extremely talented people, is heart-warming and to be in a position to help provide our three ultimate winners with $5000 (CND) each for their input is music to my ears. Red Light Holland is proud to help reward people for their feedback and hard work. I can't wait to meet the winners!"
Further details of Red Light Holland's Logo Redesign Contest, through multiple social media channels with Russell Peters and Khloë, including rules and regulations will be announced once made available. The Logo Redesign Contest will launch on social media on December 14th, 2020 8:30am. Red Light Holland's 2020 Collection is available now at www.iMicrodose.ca
The Company also announces that it has engaged Octagon Media Corp. (Parent Company of Wall Street Reporter) to provide online marketing, social media, and presentation services for a term of six months. In consideration, the Company has completed cash payments totaling US$125,000, and has granted 750,000 incentive stock options exercisable at a price of C$0.15 and 750,000 options exercisable at a price of C$0.20, each for a period of 12 months.
About Red Light Holland Corp.
Red Light Holland is an Ontario-based corporation positioning itself to engage in the production, growth and sale (through existing Smart Shops operators and an advanced e-commerce platform) of a premium brand of magic truffles to the legal market within the Netherlands, in accordance with the highest standards, in compliance with all applicable laws.
For additional information on Red Light Holland:
Todd Shapiro
Chief Executive Officer & Director
Tel: 647-204-7129
Email: todd@redlighttruffles.com
Website: https://redlighttruffles.com/
Forward-Looking Statements
Neither the Canadian Securities Exchange (the "CSE") nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Red Light Holland control.
Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward- looking statements contained herein include, but are not limited to, information on the timing and other aspects of the Red Light Holland Redesign Contest. Although Red Light Holland believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward- looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. In particular, there is no guarantee that the Red Light Holland Redesign Contest will proceed or that a C$15,000 prize will be awarded to Three Winners of C$5,000 each, or if it does proceed it will reflect the understanding of the parties as of the date of this release. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.
Not for distribution to United States newswire services or for dissemination in the United States.
https://www.accesswire.com/619182/Community-Building-Gratomic-Continues-to-Support-Local-Initiatives
Community Building: Gratomic Continues to Support Local Initiatives
Wednesday, December 2, 2020 12:50 PM
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Topic:
Company Update
TORONTO, ON / ACCESSWIRE / December 2, 2020 / Gratomic Inc. ("GRAT" or the "Company") (TSXV:GRAT)(FRANKFURT:CB81)(WKN:A143MR) is pleased to have recently met with local leaders of the !Aman Clan. The Company has also donated $70,000 to drought relief in Namibia, hosted a site visit from the President's office, and has organized a community cleanup program in the neighboring town of Aus.
The !Aman clan resides in the Karas region of Namibia and were interested in learning about progress at the mine. The clan leaders were also interested in discussing harmonized working relationships between Gratomic and the !Aman Trust Fund for local businesses and individuals. A tour of the Aukam mine site was conducted for the head of the !Aman Clan by the Company's Site Medic and Safety Manager, Oswald Mughongora. The local Clan leaders were presented with a full, guided tour of the property, were provided with explanations regarding the preservation and safeguarding of ancestral lands and resources as well as operational plans and future expectations of the mine. Gratomic has mobilized its workforce to homestead in the town of Aus.
Discussions regarding visible and transparent job tendering opportunities were had regarding participation of local businesses in various areas such as loading and unloading of equipment, drilling and blasting, plant operations, maintenance, inventory delivery to port, and water supply chain. Plans were also made regarding visible and transparent job postings for individuals.
Gratomic is pleased to provide opportunities for the improvement of surrounding communities. The Company has invested in the betterment of society by way of educational programs, opportunities for local businesses and the hiring of local workers whenever possible. We look forward to continued growth in these areas.
$70,000 Namibian dollars has been donated recently to the Farmers Drought Relief Fund to support these initiatives in the area. Gratomic feels that this is an important objective because water is a scarce natural resource in a desert environment under normal conditions and drought in Namibia has been exacerbated by 5 years of below average rainfall, which has led to wildfires in the region. As discussed in a previous press release dated November 9, 2020, the Company is very cognisant about water conservation and recycling.
"We intend to ensure that clean water remains available to local communities," commented Namibian born President & CEO, Arno Brand, "Our overarching goal at Gratomic is to make the world a better place than it was before we began this adventure at Aukam."
Gratomic also provides opportunities in skill development through-on-the-job training programs. This directly affects many people in the area by providing them with improved lifestyles and skill sets that they would have otherwise not have received. The Leadership team at Gratomic views this project as an opportunity to create prosperity in the Karas region by providing jobs, community programs, and assisting with the protection and preservation of natural resources.
The Company is currently organizing a clean-up initiative in Aukam's neighboring Town of Aus. Gratomic plans to close the mine down for the day and transport its workers to the Aus town-site, where the group of paid volunteers will begin the beautification process by removing litter and debris from the townsite and its neighboring nature preserve.
About Gratomic Inc.
Established in 2014, Gratomic is an advanced materials company focused on low-cost mine to market commercialization of carbon-neutral, Eco-friendly, high purity vein graphite and is set to become a key player in EV and Renewable Resource supply chains. Gratomic Inc. is a leader among peers, anticipating full operational capabilities in late 2020 and aiming to transition to an open pit operation as early as the end of 2021.
Gratomic is in the process of solidifying its development plans for micronization and spheronization of its clean Aukam graphite. This significant milestone is a small, additional step in the Company's existing Eco-friendly processing cycle and will allow its naturally high purity graphite to meet ideal North American battery grade standards for use in Li-ion battery anodes.
The Company promises to deliver mine-to-market traceability and guaranteed quality control. This will be accomplished by providing documented tracking on all graphite generated at its flagship Aukam Graphite Project. The tracking will begin at Aukam and will be verified at every stage during transport.
Two off-take purchase agreements are currently held for lump-vein graphite sourced from Gratomic's Aukam Graphite Project in Namibia, Africa. Fulfillment of the contracts is slated to begin in 2021. The agreements exist with TODAQ and Phu Sumika.
TODAQ is an innovative tech company and will partner with Gratomic on its mine-to-market commodity tracking.
Phu Sumika is a large global graphite supplier to battery and lubrication companies.
Gratomic Inc. is listed on the TSX Venture Exchange under the symbol GRAT.
For more information: visit the website at www.gratomic.ca or contact:
Arno Brand at abrand@gratomic.ca or 416 561-4095
Subscribe to the link below to receive news and updates
https://gratomic.ca/contact/
"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
Forward Looking Statements:
This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com.
SOURCE: Gratomic Inc.
Gratomic Inc.
Gratomic Inc.
https://www.newsfilecorp.com/release/69337/Red-Light-Holland-Announces-Partnership-with-World-Class-Influencer-Model-Khloe-Terae-as-Clothing-Brand-Ambassador
Red Light Holland Announces Partnership with World Class Influencer & Model Khloe Terae as Clothing Brand Ambassador
Toronto, Ontario--(Newsfile Corp. - December 2, 2020) - Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (OTC: TRUFF) ("Red Light Holland" or the "Company") is pleased to announce it has partnered with model and influencer, Khloë Terae, who has an extensive social media following which includes 2.4 million followers on Instagram (@Khloë ), 2.2 million likes on Facebook, and 647,000 followers on Twitter. Khloë has appeared in Playboy, MAXIM, Sport Illustrated, walked runways in Paris, LA, Miami, NYC, & Toronto, and has appeared on numerous Billboard ads in Beverly Hills, Las Vegas & West Hollywood.
"We are very excited to work so closely with Khloë, who on top of being a world famous model and influencer, is an incredible spokesperson for Autism Speaks and is an all-around great human! Red Light Holland's core belief is to work with good-natured, empathetic, spiritual, fun and energetic people. We respect Khloë's social media expertise, her ability to connect with millions of people on a daily basis and we embrace her stylistic integrity," said Red Light Holland CEO and Director, Todd Shapiro. "We are proud to align ourselves with Khloë - she is candid, cool and engaging - we're pumped for her to model RLH merch!"
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Image 1: Pictured Khloë Terae from www.instagram.com/@khloe
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/2017/69337_2b1e21fe64c5393b_002full.jpg
"I'm ecstatic to be partnering with Red Light Holland and the Company's progressive movement. I'll be proud to model and promote the Company's clothing to millions of my followers, in many different settings. I'm Canadian, so I especially love the toques!" said Khloë Terae. "I also look forward to working with Russell Peters and Todd Shapiro and their ultimate vision while assisting in social media growth, brand awareness, and brand development."
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Image 2: Pictured Khloë Terae from www.instagram.com/@khloe
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/2017/69337_2b1e21fe64c5393b_004full.jpg
In light of the partnership, Red Light Holland issued Khloë 200,000 stock options (the "Options") pursuant to the Company's stock option plan, with 100,000 of the Options vesting immediately upon issuance. The remaining 100,000 shall vest six (6) months following issuance. Each Option allows for the purchase of additional common share in the capital of the Company and shall be exercisable at $0.10. The Options shall be exercisable until December 1, 2023.
About Khloë Terae:
Khloë was born in Toronto, Canada and currently resides in Los Angeles. Khloë considers the world her oasis, as at a young age she was fortunate to have travelled to over 50 countries.
Khloë's has been featured in Playboy, MAXIM, Sports Illustrated & countless other publications, along with major media campaigns for world-renowned brands which included a handful of billboard advertisements in Beverly Hills, Las Vegas & West Hollywood.
Her experience as a world class model has allowed her to walk the runway of many Fashion Week series, such as Paris, LA, Miami, NYC, & Toronto.
Khloë is also an advocate for raising autism awareness via Autism Speaks.
About Red Light Holland Corp.
The Company is an Ontario-based corporation positioning itself to engage in the production, growth and sale (through existing Smart Shops operators and an advanced e-commerce platform) of a premium brand of magic truffles to the legal market within the Netherlands, in accordance with the highest standards, in compliance with all applicable laws.
For additional information on the Company:
Todd Shapiro
Chief Executive Officer & Director
Tel: 647-204-7129
Email: todd@redlighttruffles.com
Website: https://redlighttruffles.com/
Forward-Looking Statements
Neither the Canadian Securities Exchange (the "CSE") nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control.
Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward- looking statements contained herein include, but are not limited to, information the timing and other aspects of the partnership with Khloë. Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward- looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. In particular, there is no guarantee that the partnership with Khloë will proceed, or if it does proceed it will reflect the understanding of the parties as of the date of this release. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.
Not for distribution to United States newswire services or for dissemination in the United States.
Gratomic has clean sources of vein graphite tesla uses lithium and graphite and copper in his batteries !!
The company said it had appointed concrete expert Fanie Barnard to oversee rebar and baseplate installations and the pouring of concrete foundations at the processing plant, with the concrete work due to finish by month-end.
Gratomic said it was expecting to achieve commercial production later this year or early 2021.
It had also announced further drilling in October, to assist in calculating a resource and to support the completion of a preliminary economic assessment for Aukam.
Gratomic said the settling reservoir was being built and all components for the processing plant were now manufactured and assembly would be completed over the upcoming weeks.
"With multiple skilled crews now working on-site, we could not be more proud of the progress being made on our custom-designed processing plant," president and CEO Arno Brand said.
"We would also like to thank our very supportive shareholders and investors, who have given Gratomic the opportunity to bring the Aukam graphite deposit back to life."
The past-producing mine in the Karas region was previously in operation between 1940-1956 and from 1964-1974.
The company, formerly CKR Carbon, said phase three would "allow the mine to realise its full potential" with an estimated 20,000 tonnes per annum of high purity, vein graphite production.
Gratomic said it had two off-take purchase agreements for Aukam's lump-vein graphite with TODAQ and Phu Sumika.
Gratomic is gaining the project in full after agreeing earlier this month to acquire NextG's 37% interest, for consideration including shares and US$500,000 from the first $1 million of net revenue from Aukam graphite sales.
The company also has the Montpellier and Buckingham graphite properties in Quebec.
Gratomic had about C$1 million in working capital at June 30.
Its shares (TSXV: GRAT), which have ranged from 2.5c-25c over the past year, closed up 12.9% to 17.5c on Friday, capitalising it at $12.8 million (US$9.8 million).
https://gratomic.ca/concrete-expert-arrives-on-site-to-complete-final-phase-of-construction-on-aukam-processing-plant/
Concrete Expert Arrives On Site to Complete Final Phase of Construction on Aukam Processing Plant
Friday, November 20, 2020
TORONTO, ON / November 20, 2020 / Gratomic Inc. (“GRAT” or the “Company”) (TSXV:GRAT) (OTC Pink: CBULF) (FRANKFURT:CB81) (WKN:A143MR) is pleased to announce the arrival of Fanie Barnard to its Aukam Graphite project in Namibia. Mr Barnard has been appointed to complete onsite construction and oversee the concrete work on the Aukam Graphite processing plant which is expected to be completed by the end of this month.
Mr Barnard has steel and concrete experience on previous projects with many high-profile companies including Glencore and Anglo American. He has been tasked to supervise rebar and baseplate installations and the pouring of concrete foundations. Fanie Barnard is leading the final phase of foundation construction for the Rotary Drier, Filter Press, Cyclone, Material Hopper, Material Thickener Tank and Product Thickener Tank.
Gratomic would also like to report that a local company, Pro Edge Steel, in Keetmanshoop is responsible for designing and supplying various structural base plates and steel frames. Pro Edge has delivered the first order of steel structures to the Aukam Processing site and we expect further delivery of the steel frames in short order.
Excavation work for the multiple foundations on site was completed in late October. In total, Company employees excavated approximately 414 tonnes of material. This work will accommodate the multiple tanks and final pieces of equipment for the Company’s custom designed Graphite Processing Plant with a design capacity of 20,000 tpa. The Processing Plant has been designed on a modular basis with an over-engineered front and back end to accommodate easy future expansion through the inclusion of added columns and mixing tanks.
With excavation work completed on Aukam, the team has begun installing concrete forms and rebar in preparation for the final construction phase. The structural base plates and hold-down bolts are being carefully positioned into the concrete foundations during the pouring process. Once the concrete has been properly cured, the equipment structures and support frames will be assembled and installed onto the new foundations.
Fanie Barnard, and Gratomic’s Aukam team have begun work on the installation of rebar and pouring of concrete on all required foundations. The rotary dryer foundation is the first equipment foundation being poured on the expansion of the Company’s Graphite Processing Plant. The custom built rotary dryer consists of 6 steel frames, a dryer inlet frame, inlet support frame, main support frame, outlet frame, drive frame and motor-gearbox frame.
The mounting frames and rotary dryer will be installed and mounted once the concrete foundation has cured. The drive motor assembly and final hookups to the unit will then be completed, tested and calibrated upon plant commissioning. At 39 feet long and a drying capacity of 5 tonnes per hour, the rotary dryer will play a key role in the final processing phase of generating high quality graphite concentrate from Aukam.
The Company would like to provide an additional update on the progress made by the local masonry crew from Aus (see press release November 9th, 2020). The crew has now completed the construction work on the base frame of the water filtration and deionization unit.
Workers have completed the excavation work on the processing plant’s settling reservoir. The excavation has been completely lined with a black plastic liner to prevent seepage of water. Concrete pouring of the foundation started this morning and has subsequently been completed. Workers will now start pulling up the six tier overflow settling reservoir walls which will be plastered with a chemical and water tight seal to further minimize seepage. When completed the reservoir will be filled with water and left to cure for 21 days allowing the cement to cure.
Gratomic would also like to provide an update on the graphite flotation circuit. Company workers recently disassembled and removed the components from the pilot processing facility. This equipment was utilized to generate the data sets required to engineer the 20,000 tonne per year processing facility at Aukam. The new mixing tanks and vertical flotation columns were manufactured by Pro Edge Steel and will be installed on the existing sump that was utilized for the pilot facility. The sump was originally designed to a size that will allow it to fully contain all the water from the new six commercial sized columns with a minimum free board of 4 feet, if all of them were to fail at the same time. This is another great example of the Company’s capability to plan ahead for future development and make sure it is doing its part to sustain the environment in which it is working.
The Company wishes to advise that C.B Burger engineering has completed manufacturing the Material Hopper and Graphite Concentrate Chipper. The material hopper and chipper were designed by the company’s engineering team alongside the manufacturing team from South Africa, C.B Burger Engineering. We would like to thank our Chief on-site geologist, Corne Coetser, for his agility in taking on this part of the processing plant and organizing the execution and build of these vital pieces of equipment.
The company designed the Material Hopper to hold up to 80 tonnes of graphite material and to act as a buffer to keep the processing plant running for up to 1 and a half days without flow disruption during maintenance. The Hopper will be fed continuously by the already constructed crushing and screening circuit of the processing plant. The material hopper was designed to feed directly into the rod mill with a horizontal screw conveyor using a VSD (variable speed drive) to control the material fed into the rod mill.
The custom designed Graphite Concentrate Chipper which will be fed by the filter press, is made from stainless steel to prevent any contamination of the Company’s final product. The chipper has a capacity to handle up to 2.7 tonnes per hour of graphite concentrate that will feed directly into a supply hopper for the rotary dryer. With these last two equipment components completed and en-route to site, Gratomic is pleased to advise that all components for the Aukam custom built processing plant are now manufactured and assembly will be completed over the upcoming weeks.
“With multiple skilled crews now working on-site, we could not be more proud of the progress being made on our custom designed processing plant. We would also like to thank our very supportive shareholders and investors, who have given Gratomic the opportunity to bring the Aukam graphite deposit back to life.” says President and CEO, Arno Brand.
“The custom built plant, carefully designed to optimize the processing of the unique material we expect to obtain from the Aukam deposit, is one of the Company’s best competitive advantages,” says COO & Head of Graphite Marketing and Sales, Armando Farhate.
About Gratomic Inc.
Established in 2014, Gratomic is an advanced materials company focused on low-cost mine to market commercialization of carbon-neutral, Eco-friendly, high purity vein graphite and is set to become a key player in EV and Renewable Resource supply chains. Gratomic Inc. is a leader among peers, anticipating full operational capabilities in late 2020 and aiming to transition to an open pit operation as early as the end of 2021.
Gratomic is in the process of solidifying its development plans for micronization and spheronization of its clean Aukam graphite. This significant milestone is a small, additional step in the Company’s existing Eco-friendly processing cycle and will allow its naturally high purity graphite to meet ideal North American battery grade standards for use in Li-ion battery anodes.
The Company promises to deliver mine-to-market traceability and guaranteed quality control. This will be accomplished by providing documented tracking on all graphite generated at its flagship Aukam Graphite Project. The tracking will begin at Aukam and will be verified at every stage during transport.
Two off-take purchase agreements are currently held for lump-vein graphite sourced from Gratomic’s Aukam Graphite Project in Namibia, Africa. Fulfillment of the contracts is slated to begin in 2021. The agreements exist with TODAQ and Phu Sumika.
TODAQ is an innovative tech company and will partner with Gratomic on its mine-to-market commodity tracking.
Phu Sumika is a large global graphite supplier to battery and lubrication companies.
Gratomic Inc. is listed on the TSX Venture Exchange under the symbol GRAT.
For more information: visit the website at www.gratomic.ca or contact:
Arno Brand at abrand@gratomic.ca or 416 561-4095
“Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.”
Risk Factors
No mineral resources, let alone mineral reserves demonstrating economic viability and technical feasibility, have been delineated on the Aukam Property. The Company is not in a position to demonstrate or disclose any capital and/or operating costs that may be associated with the processing plant.
The Company advises that it has not based its production decision on even the existence of mineral resources let alone on a feasibility study of mineral reserves, demonstrating economic and technical viability, and, as a result, there may be an increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, including increased risks associated with developing a commercially mineable deposit.
Historically, such projects have a much higher risk of economic and technical failure. There is no guarantee that production will begin as anticipated or at all or that anticipated production costs will be achieved.
Failure to commence production would have a material adverse impact on the Company’s ability to generate revenue and cash flow to fund operations. Failure to achieve the anticipated production costs would have a material adverse impact on the Company’s cash flow and future profitability
Steve Gray, P. Geo. and a Director of the Company has reviewed and approved the scientific and technical information in this press release and is the Company’s “Qualified Person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
FORWARD LOOKING STATEMENTS:
This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com
$GRAT 18 cent close today?
Is $MMED only raising money? what about actually selling the substance?
https://www.newswire.ca/news-releases/red-light-holland-and-halo-labs-announce-intention-to-enter-oregon-medicinal-psilocybin-market-865973588.html
Red Light Holland and Halo Labs Announce Intention to Enter Oregon Medicinal Psilocybin Market
www.halocanna.com (CNW Group/Halo Labs Inc.)
News provided by
Halo Labs Inc.
Nov 19, 2020, 20:14 ET
Share this article
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
TORONTO, Nov. 19, 2020 /CNW/ - Halo Labs Inc. ("Halo") (NEO: HALO) (OTC: AGEEF) (Germany: A9KN) and Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (OTC: TRUFF) ("Red Light Holland") are pleased to announce they have entered into a non-binding letter of intent for the purposes of creating a joint venture to become a licensed psilocybin manufacturer to supply psilocybin products to licensed service centers in the State of Oregon, and to explore other potential business opportunities in this new regulated market, subject to compliance with all applicable Oregon laws and regulations.
"Clearly, we are very excited with the recent results of Oregon Measure 109 where progressive Oregonians have voted in favor of becoming the first state in the US, to allow the use of psilocybin, for therapeutic use. We take pride at Red Light Holland in our self-regulated responsible adult use psilocybin legal product (iMicrodose packs in the Netherlands), which we feel could become a model for the development of psilocybin products for the Oregon regulated market to be used to potentially treat chronic mental health issues like anxiety, depression, and addiction" said Red Light Holland CEO and Director Todd Shapiro. "We are aware that these are early days for the Oregon psilocybin market, we cannot make medical claims, and the path ahead is still a long one as the Oregon Health Authority still has to create a state-licensed, psilocybin-assisted therapy program over the next two years. This is exactly why we have entered into a non-binding LOI with Halo Labs, as CEO Kiran Sidhu and his team have deep regulatory experience and relationships with Oregon lawmakers and state officials, having founded Halo Labs, a successful vertically integrated cannabis company that started in the State of Oregon and now operates in multiple US states, Africa and in the UK" added Shapiro.
"We believe we are in a great position to work closely with Oregon regulatory authorities with respect to the implementation of Measure 109 and the development of Oregon's regulatory psilocybin regime," said Kiran Sidhu, CEO of Halo. "We are delighted to be working with Todd Shapiro and the team at Red Light Holland, as they have the experience, know-how and the right viewpoint with their educational, informational, innovative, and careful perspective on access to psilocybin. We are looking forward to taking the next steps in second half of 2021 in this emerging market together. We remain exclusively focused on cannabis in Oregon and see medical psilocybin as a longer term opportunity."
Further details of the proposed joint venture will be announced once available and as the contours of the Oregon regulated market begin to take shape.
About Halo Labs
Halo is a leading, vertically-integrated cannabis company that cultivates, extracts, manufactures and distributes quality cannabis flower, oils, and concentrates, and has sold approximately six million grams of oils and concentrates since inception. Halo continues to scale efficiently, partnering with trustworthy leaders in the industry, who value their operational expertise in bringing top-tier products to market. Current growth includes expansion in key markets in the United States, United Kingdom and Africa, with planned geographic expansion into Canadian markets. With a consumer-centric focus, Halo markets value-driven, branded, and private-label products across multiple product categories. The Company also has acquired a range software development assets, such as the technology platforms CannPOS, Cannalift, and more recently signed a deal to acquire CannaFeels. Halo also owns the inhalation technology, Accudab.
Halo is led by a strong, diverse and innovative management team, with deep industry knowledge and blue-chip experience. The Company is currently operating in the United States throughout California, Oregon, and Nevada. Notably, The Company has signed a definitive agreement to acquire Winberry Farms which provides another acre of cultivation to add to the existing 6 acres Halo already owns and/or manages in Oregon, which further solidifies the Company's supply chain and increases its variety of cannabis strains. Internationally, the Company is currently cultivating cannabis at Bophelo Bioscience & Wellness (Pty) Ltd, in Lesotho and has acquired CBPM importation and distribution licensing in the United Kingdom via cannabis supplier, Canmart.
For further information regarding Halo, see Halo's disclosure documents on SEDAR at www.sedar.com
About Red Light Holland Corp.
Red Light Holland is an Ontario-based corporation positioning itself to engage in the production, growth and sale (through existing Smart Shops operators and an advanced e-commerce platform) of a premium brand of magic truffles to the legal market within the Netherlands, in accordance with the highest standards, in compliance with all applicable laws.
Cautionary Note Regarding Forward-Looking Information and Statements
Neither the Canadian Securities Exchange (the "CSE") nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Red Light Holland and Halo's control.
Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward- looking statements contained herein include, but are not limited to, information the timing and other aspects of the non-binding letter of intent with Halo Labs, and the proposed joint venture. Although each of Red Light Holland and Halo believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward- looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. In particular, there is no guarantee that the joint venture with will proceed, or if it does proceed it will reflect the understanding of the parties as of the date of this release. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.
CMPS is cool but are they actually selling the psychedelic mushroom or truffle?
https://www.newswire.ca/news-releases/red-light-holland-and-halo-labs-announce-intention-to-enter-oregon-medicinal-psilocybin-market-865973588.html
Red Light Holland and Halo Labs Announce Intention to Enter Oregon Medicinal Psilocybin Market
www.halocanna.com (CNW Group/Halo Labs Inc.)
News provided by
Halo Labs Inc.
Nov 19, 2020, 20:14 ET
Share this article
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
TORONTO, Nov. 19, 2020 /CNW/ - Halo Labs Inc. ("Halo") (NEO: HALO) (OTC: AGEEF) (Germany: A9KN) and Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (OTC: TRUFF) ("Red Light Holland") are pleased to announce they have entered into a non-binding letter of intent for the purposes of creating a joint venture to become a licensed psilocybin manufacturer to supply psilocybin products to licensed service centers in the State of Oregon, and to explore other potential business opportunities in this new regulated market, subject to compliance with all applicable Oregon laws and regulations.
"Clearly, we are very excited with the recent results of Oregon Measure 109 where progressive Oregonians have voted in favor of becoming the first state in the US, to allow the use of psilocybin, for therapeutic use. We take pride at Red Light Holland in our self-regulated responsible adult use psilocybin legal product (iMicrodose packs in the Netherlands), which we feel could become a model for the development of psilocybin products for the Oregon regulated market to be used to potentially treat chronic mental health issues like anxiety, depression, and addiction" said Red Light Holland CEO and Director Todd Shapiro. "We are aware that these are early days for the Oregon psilocybin market, we cannot make medical claims, and the path ahead is still a long one as the Oregon Health Authority still has to create a state-licensed, psilocybin-assisted therapy program over the next two years. This is exactly why we have entered into a non-binding LOI with Halo Labs, as CEO Kiran Sidhu and his team have deep regulatory experience and relationships with Oregon lawmakers and state officials, having founded Halo Labs, a successful vertically integrated cannabis company that started in the State of Oregon and now operates in multiple US states, Africa and in the UK" added Shapiro.
"We believe we are in a great position to work closely with Oregon regulatory authorities with respect to the implementation of Measure 109 and the development of Oregon's regulatory psilocybin regime," said Kiran Sidhu, CEO of Halo. "We are delighted to be working with Todd Shapiro and the team at Red Light Holland, as they have the experience, know-how and the right viewpoint with their educational, informational, innovative, and careful perspective on access to psilocybin. We are looking forward to taking the next steps in second half of 2021 in this emerging market together. We remain exclusively focused on cannabis in Oregon and see medical psilocybin as a longer term opportunity."
Further details of the proposed joint venture will be announced once available and as the contours of the Oregon regulated market begin to take shape.
About Halo Labs
Halo is a leading, vertically-integrated cannabis company that cultivates, extracts, manufactures and distributes quality cannabis flower, oils, and concentrates, and has sold approximately six million grams of oils and concentrates since inception. Halo continues to scale efficiently, partnering with trustworthy leaders in the industry, who value their operational expertise in bringing top-tier products to market. Current growth includes expansion in key markets in the United States, United Kingdom and Africa, with planned geographic expansion into Canadian markets. With a consumer-centric focus, Halo markets value-driven, branded, and private-label products across multiple product categories. The Company also has acquired a range software development assets, such as the technology platforms CannPOS, Cannalift, and more recently signed a deal to acquire CannaFeels. Halo also owns the inhalation technology, Accudab.
Halo is led by a strong, diverse and innovative management team, with deep industry knowledge and blue-chip experience. The Company is currently operating in the United States throughout California, Oregon, and Nevada. Notably, The Company has signed a definitive agreement to acquire Winberry Farms which provides another acre of cultivation to add to the existing 6 acres Halo already owns and/or manages in Oregon, which further solidifies the Company's supply chain and increases its variety of cannabis strains. Internationally, the Company is currently cultivating cannabis at Bophelo Bioscience & Wellness (Pty) Ltd, in Lesotho and has acquired CBPM importation and distribution licensing in the United Kingdom via cannabis supplier, Canmart.
For further information regarding Halo, see Halo's disclosure documents on SEDAR at www.sedar.com
About Red Light Holland Corp.
Red Light Holland is an Ontario-based corporation positioning itself to engage in the production, growth and sale (through existing Smart Shops operators and an advanced e-commerce platform) of a premium brand of magic truffles to the legal market within the Netherlands, in accordance with the highest standards, in compliance with all applicable laws.
Cautionary Note Regarding Forward-Looking Information and Statements
Neither the Canadian Securities Exchange (the "CSE") nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Red Light Holland and Halo's control.
Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward- looking statements contained herein include, but are not limited to, information the timing and other aspects of the non-binding letter of intent with Halo Labs, and the proposed joint venture. Although each of Red Light Holland and Halo believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward- looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. In particular, there is no guarantee that the joint venture with will proceed, or if it does proceed it will reflect the understanding of the parties as of the date of this release. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.
https://www.newsfilecorp.com/release/68865
Red Light Holland Announces Change to Virtual Annual Meeting of Shareholders
Toronto, Ontario--(Newsfile Corp. - November 24, 2020) - Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (OTC: TRUFF) ("Red Light Holland" or the "Company") today announces that its Annual and General Meeting of shareholders scheduled for Monday, November 30, 2020 will be held virtually due to the coronavirus (COVID-19) pandemic.
Due to the current COVID-19 lockdown in Toronto and in recognition of the latest directives and guidance from public health authorities and the Provincial and Federal Governments, this year's meeting will be held virtually. The in-person meeting as described in the Company's SEDAR filings and in its mailing to Shareholders will be happening online only. Shareholders will require a control number to be able to listen to, participate in and vote at the meeting in real time through the web-based platform of AGM Connect. The live audio webcast will be accessible at http://www.agmconnect.com/redlight2020 and will be held on Monday, November 30, 2020 at 11:00am EST.
IMPORTANT DETAILS FOR REGISTERED SHAREHOLDERS
Registered Shareholders who wish to attend the meeting and vote at the meeting, must register no later than 10:00am EST on Monday, November 30, 2020 at https://www.agmconnect.com/redlight2020. They must provide the shareholder name (as it is registered with the Company's transfer agent), an email address for contact and the Proxy Control Number found on the Proxy Form or the Voter Information Form received by mail from TSX Trust or other intermediaries as the case may be. Registered Shareholders will then receive voting credentials for the Annual Meeting directly from AGM Connect.
All Shareholders are encouraged to vote in advance by one of the methods described in the 2019 Management Information Circular. Registered shareholders are asked to return their completed proxies or exercise their vote by the voting deadline on Thursday, November 26, 2020 at 11:00am EST.
If you have any questions, please call our transfer agent, TMX Trust via phone or online:
+1 416 361-0930 Toll-free North America: +1 866 393-4891
https://www.voteproxyonline.com
About Red Light Holland Corp.
The Company is an Ontario-based corporation engaged in the production, growth and sale (through existing Smart Shops operators and an advanced e-commerce platform) of a premium brand of magic truffles to the legal, recreational market within the Netherlands, in accordance with the highest standards, in compliance with all applicable laws.
For additional information on the Company:
Todd Shapiro
Chief Executive Officer & Director
Tel: 647-204-7129
Email: todd@redlighttruffles.com
Website: https://redlighttruffles.com/
Forward-Looking Statements
Neither the Canadian Securities Exchange (the "CSE") nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "intend" or the negative of these terms and similar expressions. Forward-looking statements necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. The following factors, among others, could cause the actual results of the Company's operations to differ materially from the Company's expectations: the effect of the COVID-19 pandemic, including the negative impacts and disruptions on the Company's colleagues and the domestic and global economy, which may have an adverse effect on the Company's business; competition; changes in economic conditions, interested rates and financial markets; and changes in legislation or regulatory requirements. The forward-looking statements included in this news release are made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities laws. Forward-looking statements, forward-looking financial information and other metrics presented herein are not intended as guidance or projections for the periods referenced herein or any future periods, and in particular, past performance is not an indicator of future results and the results of the Company in this press release may not be indicative of, and are not an estimate, forecast or projection of the Company's future results. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
Not for distribution to United States newswire services or for dissemination in the United States
There is a reason why EV are important to electric cars , lithium and graphite are combined with copper for the batteries.
companies like gratomic have clean sources of environmentally frinedly graphite
CHINA Has a serious Graphite Pollution problem Elon Musk is looking for clean sources of graphite and so will other smart leaders in the EV scene for the electric car batteries!
https://www.washingtonpost.com/graphics/business/batteries/graphite-mining-pollution-in-china/
Depending on the application graphite makes up between 50% to 70% of a lithium ion battery. Spherical graphite is the money maker and Dofner Anzaplan in Germany is preparing $Grat graphite.
https://www.mining-journal.com/energy-minerals-news/news/1399795/gratomic-nears-graphite-production-in-namibia
The company said it had appointed concrete expert Fanie Barnard to oversee rebar and baseplate installations and the pouring of concrete foundations at the processing plant, with the concrete work due to finish by month-end.
Gratomic said it was expecting to achieve commercial production later this year or early 2021.
It had also announced further drilling in October, to assist in calculating a resource and to support the completion of a preliminary economic assessment for Aukam.
Gratomic said the settling reservoir was being built and all components for the processing plant were now manufactured and assembly would be completed over the upcoming weeks.
"With multiple skilled crews now working on-site, we could not be more proud of the progress being made on our custom-designed processing plant," president and CEO Arno Brand said.
"We would also like to thank our very supportive shareholders and investors, who have given Gratomic the opportunity to bring the Aukam graphite deposit back to life."
The past-producing mine in the Karas region was previously in operation between 1940-1956 and from 1964-1974.
The company, formerly CKR Carbon, said phase three would "allow the mine to realise its full potential" with an estimated 20,000 tonnes per annum of high purity, vein graphite production.
Gratomic said it had two off-take purchase agreements for Aukam's lump-vein graphite with TODAQ and Phu Sumika.
Gratomic is gaining the project in full after agreeing earlier this month to acquire NextG's 37% interest, for consideration including shares and US$500,000 from the first $1 million of net revenue from Aukam graphite sales.
The company also has the Montpellier and Buckingham graphite properties in Quebec.
Gratomic had about C$1 million in working capital at June 30.
Its shares (TSXV: GRAT), which have ranged from 2.5c-25c over the past year, closed up 12.9% to 17.5c on Friday, capitalising it at $12.8 million (US$9.8 million).
Concrete Expert Arrives On Site to Complete Final Phase of Construction on Aukam Processing Plant
Friday, November 20, 2020
TORONTO, ON / November 20, 2020 / Gratomic Inc. (“GRAT” or the “Company”) (TSXV:GRAT) (OTC Pink: CBULF) (FRANKFURT:CB81) (WKN:A143MR) is pleased to announce the arrival of Fanie Barnard to its Aukam Graphite project in Namibia. Mr Barnard has been appointed to complete onsite construction and oversee the concrete work on the Aukam Graphite processing plant which is expected to be completed by the end of this month.
Mr Barnard has steel and concrete experience on previous projects with many high-profile companies including Glencore and Anglo American. He has been tasked to supervise rebar and baseplate installations and the pouring of concrete foundations. Fanie Barnard is leading the final phase of foundation construction for the Rotary Drier, Filter Press, Cyclone, Material Hopper, Material Thickener Tank and Product Thickener Tank.
Gratomic would also like to report that a local company, Pro Edge Steel, in Keetmanshoop is responsible for designing and supplying various structural base plates and steel frames. Pro Edge has delivered the first order of steel structures to the Aukam Processing site and we expect further delivery of the steel frames in short order.
Excavation work for the multiple foundations on site was completed in late October. In total, Company employees excavated approximately 414 tonnes of material. This work will accommodate the multiple tanks and final pieces of equipment for the Company’s custom designed Graphite Processing Plant with a design capacity of 20,000 tpa. The Processing Plant has been designed on a modular basis with an over-engineered front and back end to accommodate easy future expansion through the inclusion of added columns and mixing tanks.
With excavation work completed on Aukam, the team has begun installing concrete forms and rebar in preparation for the final construction phase. The structural base plates and hold-down bolts are being carefully positioned into the concrete foundations during the pouring process. Once the concrete has been properly cured, the equipment structures and support frames will be assembled and installed onto the new foundations.
Fanie Barnard, and Gratomic’s Aukam team have begun work on the installation of rebar and pouring of concrete on all required foundations. The rotary dryer foundation is the first equipment foundation being poured on the expansion of the Company’s Graphite Processing Plant. The custom built rotary dryer consists of 6 steel frames, a dryer inlet frame, inlet support frame, main support frame, outlet frame, drive frame and motor-gearbox frame.
The mounting frames and rotary dryer will be installed and mounted once the concrete foundation has cured. The drive motor assembly and final hookups to the unit will then be completed, tested and calibrated upon plant commissioning. At 39 feet long and a drying capacity of 5 tonnes per hour, the rotary dryer will play a key role in the final processing phase of generating high quality graphite concentrate from Aukam.
The Company would like to provide an additional update on the progress made by the local masonry crew from Aus (see press release November 9th, 2020). The crew has now completed the construction work on the base frame of the water filtration and deionization unit.
Workers have completed the excavation work on the processing plant’s settling reservoir. The excavation has been completely lined with a black plastic liner to prevent seepage of water. Concrete pouring of the foundation started this morning and has subsequently been completed. Workers will now start pulling up the six tier overflow settling reservoir walls which will be plastered with a chemical and water tight seal to further minimize seepage. When completed the reservoir will be filled with water and left to cure for 21 days allowing the cement to cure.
Gratomic would also like to provide an update on the graphite flotation circuit. Company workers recently disassembled and removed the components from the pilot processing facility. This equipment was utilized to generate the data sets required to engineer the 20,000 tonne per year processing facility at Aukam. The new mixing tanks and vertical flotation columns were manufactured by Pro Edge Steel and will be installed on the existing sump that was utilized for the pilot facility. The sump was originally designed to a size that will allow it to fully contain all the water from the new six commercial sized columns with a minimum free board of 4 feet, if all of them were to fail at the same time. This is another great example of the Company’s capability to plan ahead for future development and make sure it is doing its part to sustain the environment in which it is working.
The Company wishes to advise that C.B Burger engineering has completed manufacturing the Material Hopper and Graphite Concentrate Chipper. The material hopper and chipper were designed by the company’s engineering team alongside the manufacturing team from South Africa, C.B Burger Engineering. We would like to thank our Chief on-site geologist, Corne Coetser, for his agility in taking on this part of the processing plant and organizing the execution and build of these vital pieces of equipment.
The company designed the Material Hopper to hold up to 80 tonnes of graphite material and to act as a buffer to keep the processing plant running for up to 1 and a half days without flow disruption during maintenance. The Hopper will be fed continuously by the already constructed crushing and screening circuit of the processing plant. The material hopper was designed to feed directly into the rod mill with a horizontal screw conveyor using a VSD (variable speed drive) to control the material fed into the rod mill.
The custom designed Graphite Concentrate Chipper which will be fed by the filter press, is made from stainless steel to prevent any contamination of the Company’s final product. The chipper has a capacity to handle up to 2.7 tonnes per hour of graphite concentrate that will feed directly into a supply hopper for the rotary dryer. With these last two equipment components completed and en-route to site, Gratomic is pleased to advise that all components for the Aukam custom built processing plant are now manufactured and assembly will be completed over the upcoming weeks.
“With multiple skilled crews now working on-site, we could not be more proud of the progress being made on our custom designed processing plant. We would also like to thank our very supportive shareholders and investors, who have given Gratomic the opportunity to bring the Aukam graphite deposit back to life.” says President and CEO, Arno Brand.
“The custom built plant, carefully designed to optimize the processing of the unique material we expect to obtain from the Aukam deposit, is one of the Company’s best competitive advantages,” says COO & Head of Graphite Marketing and Sales, Armando Farhate.
About Gratomic Inc.
Established in 2014, Gratomic is an advanced materials company focused on low-cost mine to market commercialization of carbon-neutral, Eco-friendly, high purity vein graphite and is set to become a key player in EV and Renewable Resource supply chains. Gratomic Inc. is a leader among peers, anticipating full operational capabilities in late 2020 and aiming to transition to an open pit operation as early as the end of 2021.
Gratomic is in the process of solidifying its development plans for micronization and spheronization of its clean Aukam graphite. This significant milestone is a small, additional step in the Company’s existing Eco-friendly processing cycle and will allow its naturally high purity graphite to meet ideal North American battery grade standards for use in Li-ion battery anodes.
The Company promises to deliver mine-to-market traceability and guaranteed quality control. This will be accomplished by providing documented tracking on all graphite generated at its flagship Aukam Graphite Project. The tracking will begin at Aukam and will be verified at every stage during transport.
Two off-take purchase agreements are currently held for lump-vein graphite sourced from Gratomic’s Aukam Graphite Project in Namibia, Africa. Fulfillment of the contracts is slated to begin in 2021. The agreements exist with TODAQ and Phu Sumika.
TODAQ is an innovative tech company and will partner with Gratomic on its mine-to-market commodity tracking.
Phu Sumika is a large global graphite supplier to battery and lubrication companies.
Gratomic Inc. is listed on the TSX Venture Exchange under the symbol GRAT.
For more information: visit the website at www.gratomic.ca or contact:
Arno Brand at abrand@gratomic.ca or 416 561-4095
“Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.”
Risk Factors
No mineral resources, let alone mineral reserves demonstrating economic viability and technical feasibility, have been delineated on the Aukam Property. The Company is not in a position to demonstrate or disclose any capital and/or operating costs that may be associated with the processing plant.
The Company advises that it has not based its production decision on even the existence of mineral resources let alone on a feasibility study of mineral reserves, demonstrating economic and technical viability, and, as a result, there may be an increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, including increased risks associated with developing a commercially mineable deposit.
Historically, such projects have a much higher risk of economic and technical failure. There is no guarantee that production will begin as anticipated or at all or that anticipated production costs will be achieved.
Failure to commence production would have a material adverse impact on the Company’s ability to generate revenue and cash flow to fund operations. Failure to achieve the anticipated production costs would have a material adverse impact on the Company’s cash flow and future profitability
Steve Gray, P. Geo. and a Director of the Company has reviewed and approved the scientific and technical information in this press release and is the Company’s “Qualified Person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
FORWARD LOOKING STATEMENTS:
This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com
There is a reason why EV are important to electric cars , lithium and graphite are combined with copper for the batteries.
companies like gratomic have clean sources of environmentally frinedly graphite
CHINA Has a serious Graphite Pollution problem Elon Musk is looking for clean sources of graphite and so will other smart leaders in the EV scene for the electric car batteries!
https://www.washingtonpost.com/graphics/business/batteries/graphite-mining-pollution-in-china/
Depending on the application graphite makes up between 50% to 70% of a lithium ion battery. Spherical graphite is the money maker and Dofner Anzaplan in Germany is preparing $Grat graphite.
https://www.mining-journal.com/energy-minerals-news/news/1399795/gratomic-nears-graphite-production-in-namibia
The company said it had appointed concrete expert Fanie Barnard to oversee rebar and baseplate installations and the pouring of concrete foundations at the processing plant, with the concrete work due to finish by month-end.
Gratomic said it was expecting to achieve commercial production later this year or early 2021.
It had also announced further drilling in October, to assist in calculating a resource and to support the completion of a preliminary economic assessment for Aukam.
Gratomic said the settling reservoir was being built and all components for the processing plant were now manufactured and assembly would be completed over the upcoming weeks.
"With multiple skilled crews now working on-site, we could not be more proud of the progress being made on our custom-designed processing plant," president and CEO Arno Brand said.
"We would also like to thank our very supportive shareholders and investors, who have given Gratomic the opportunity to bring the Aukam graphite deposit back to life."
The past-producing mine in the Karas region was previously in operation between 1940-1956 and from 1964-1974.
The company, formerly CKR Carbon, said phase three would "allow the mine to realise its full potential" with an estimated 20,000 tonnes per annum of high purity, vein graphite production.
Gratomic said it had two off-take purchase agreements for Aukam's lump-vein graphite with TODAQ and Phu Sumika.
Gratomic is gaining the project in full after agreeing earlier this month to acquire NextG's 37% interest, for consideration including shares and US$500,000 from the first $1 million of net revenue from Aukam graphite sales.
The company also has the Montpellier and Buckingham graphite properties in Quebec.
Gratomic had about C$1 million in working capital at June 30.
Its shares (TSXV: GRAT), which have ranged from 2.5c-25c over the past year, closed up 12.9% to 17.5c on Friday, capitalising it at $12.8 million (US$9.8 million).
Concrete Expert Arrives On Site to Complete Final Phase of Construction on Aukam Processing Plant
Friday, November 20, 2020
TORONTO, ON / November 20, 2020 / Gratomic Inc. (“GRAT” or the “Company”) (TSXV:GRAT) (OTC Pink: CBULF) (FRANKFURT:CB81) (WKN:A143MR) is pleased to announce the arrival of Fanie Barnard to its Aukam Graphite project in Namibia. Mr Barnard has been appointed to complete onsite construction and oversee the concrete work on the Aukam Graphite processing plant which is expected to be completed by the end of this month.
Mr Barnard has steel and concrete experience on previous projects with many high-profile companies including Glencore and Anglo American. He has been tasked to supervise rebar and baseplate installations and the pouring of concrete foundations. Fanie Barnard is leading the final phase of foundation construction for the Rotary Drier, Filter Press, Cyclone, Material Hopper, Material Thickener Tank and Product Thickener Tank.
Gratomic would also like to report that a local company, Pro Edge Steel, in Keetmanshoop is responsible for designing and supplying various structural base plates and steel frames. Pro Edge has delivered the first order of steel structures to the Aukam Processing site and we expect further delivery of the steel frames in short order.
Excavation work for the multiple foundations on site was completed in late October. In total, Company employees excavated approximately 414 tonnes of material. This work will accommodate the multiple tanks and final pieces of equipment for the Company’s custom designed Graphite Processing Plant with a design capacity of 20,000 tpa. The Processing Plant has been designed on a modular basis with an over-engineered front and back end to accommodate easy future expansion through the inclusion of added columns and mixing tanks.
With excavation work completed on Aukam, the team has begun installing concrete forms and rebar in preparation for the final construction phase. The structural base plates and hold-down bolts are being carefully positioned into the concrete foundations during the pouring process. Once the concrete has been properly cured, the equipment structures and support frames will be assembled and installed onto the new foundations.
Fanie Barnard, and Gratomic’s Aukam team have begun work on the installation of rebar and pouring of concrete on all required foundations. The rotary dryer foundation is the first equipment foundation being poured on the expansion of the Company’s Graphite Processing Plant. The custom built rotary dryer consists of 6 steel frames, a dryer inlet frame, inlet support frame, main support frame, outlet frame, drive frame and motor-gearbox frame.
The mounting frames and rotary dryer will be installed and mounted once the concrete foundation has cured. The drive motor assembly and final hookups to the unit will then be completed, tested and calibrated upon plant commissioning. At 39 feet long and a drying capacity of 5 tonnes per hour, the rotary dryer will play a key role in the final processing phase of generating high quality graphite concentrate from Aukam.
The Company would like to provide an additional update on the progress made by the local masonry crew from Aus (see press release November 9th, 2020). The crew has now completed the construction work on the base frame of the water filtration and deionization unit.
Workers have completed the excavation work on the processing plant’s settling reservoir. The excavation has been completely lined with a black plastic liner to prevent seepage of water. Concrete pouring of the foundation started this morning and has subsequently been completed. Workers will now start pulling up the six tier overflow settling reservoir walls which will be plastered with a chemical and water tight seal to further minimize seepage. When completed the reservoir will be filled with water and left to cure for 21 days allowing the cement to cure.
Gratomic would also like to provide an update on the graphite flotation circuit. Company workers recently disassembled and removed the components from the pilot processing facility. This equipment was utilized to generate the data sets required to engineer the 20,000 tonne per year processing facility at Aukam. The new mixing tanks and vertical flotation columns were manufactured by Pro Edge Steel and will be installed on the existing sump that was utilized for the pilot facility. The sump was originally designed to a size that will allow it to fully contain all the water from the new six commercial sized columns with a minimum free board of 4 feet, if all of them were to fail at the same time. This is another great example of the Company’s capability to plan ahead for future development and make sure it is doing its part to sustain the environment in which it is working.
The Company wishes to advise that C.B Burger engineering has completed manufacturing the Material Hopper and Graphite Concentrate Chipper. The material hopper and chipper were designed by the company’s engineering team alongside the manufacturing team from South Africa, C.B Burger Engineering. We would like to thank our Chief on-site geologist, Corne Coetser, for his agility in taking on this part of the processing plant and organizing the execution and build of these vital pieces of equipment.
The company designed the Material Hopper to hold up to 80 tonnes of graphite material and to act as a buffer to keep the processing plant running for up to 1 and a half days without flow disruption during maintenance. The Hopper will be fed continuously by the already constructed crushing and screening circuit of the processing plant. The material hopper was designed to feed directly into the rod mill with a horizontal screw conveyor using a VSD (variable speed drive) to control the material fed into the rod mill.
The custom designed Graphite Concentrate Chipper which will be fed by the filter press, is made from stainless steel to prevent any contamination of the Company’s final product. The chipper has a capacity to handle up to 2.7 tonnes per hour of graphite concentrate that will feed directly into a supply hopper for the rotary dryer. With these last two equipment components completed and en-route to site, Gratomic is pleased to advise that all components for the Aukam custom built processing plant are now manufactured and assembly will be completed over the upcoming weeks.
“With multiple skilled crews now working on-site, we could not be more proud of the progress being made on our custom designed processing plant. We would also like to thank our very supportive shareholders and investors, who have given Gratomic the opportunity to bring the Aukam graphite deposit back to life.” says President and CEO, Arno Brand.
“The custom built plant, carefully designed to optimize the processing of the unique material we expect to obtain from the Aukam deposit, is one of the Company’s best competitive advantages,” says COO & Head of Graphite Marketing and Sales, Armando Farhate.
About Gratomic Inc.
Established in 2014, Gratomic is an advanced materials company focused on low-cost mine to market commercialization of carbon-neutral, Eco-friendly, high purity vein graphite and is set to become a key player in EV and Renewable Resource supply chains. Gratomic Inc. is a leader among peers, anticipating full operational capabilities in late 2020 and aiming to transition to an open pit operation as early as the end of 2021.
Gratomic is in the process of solidifying its development plans for micronization and spheronization of its clean Aukam graphite. This significant milestone is a small, additional step in the Company’s existing Eco-friendly processing cycle and will allow its naturally high purity graphite to meet ideal North American battery grade standards for use in Li-ion battery anodes.
The Company promises to deliver mine-to-market traceability and guaranteed quality control. This will be accomplished by providing documented tracking on all graphite generated at its flagship Aukam Graphite Project. The tracking will begin at Aukam and will be verified at every stage during transport.
Two off-take purchase agreements are currently held for lump-vein graphite sourced from Gratomic’s Aukam Graphite Project in Namibia, Africa. Fulfillment of the contracts is slated to begin in 2021. The agreements exist with TODAQ and Phu Sumika.
TODAQ is an innovative tech company and will partner with Gratomic on its mine-to-market commodity tracking.
Phu Sumika is a large global graphite supplier to battery and lubrication companies.
Gratomic Inc. is listed on the TSX Venture Exchange under the symbol GRAT.
For more information: visit the website at www.gratomic.ca or contact:
Arno Brand at abrand@gratomic.ca or 416 561-4095
“Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.”
Risk Factors
No mineral resources, let alone mineral reserves demonstrating economic viability and technical feasibility, have been delineated on the Aukam Property. The Company is not in a position to demonstrate or disclose any capital and/or operating costs that may be associated with the processing plant.
The Company advises that it has not based its production decision on even the existence of mineral resources let alone on a feasibility study of mineral reserves, demonstrating economic and technical viability, and, as a result, there may be an increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, including increased risks associated with developing a commercially mineable deposit.
Historically, such projects have a much higher risk of economic and technical failure. There is no guarantee that production will begin as anticipated or at all or that anticipated production costs will be achieved.
Failure to commence production would have a material adverse impact on the Company’s ability to generate revenue and cash flow to fund operations. Failure to achieve the anticipated production costs would have a material adverse impact on the Company’s cash flow and future profitability
Steve Gray, P. Geo. and a Director of the Company has reviewed and approved the scientific and technical information in this press release and is the Company’s “Qualified Person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
FORWARD LOOKING STATEMENTS:
This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com
accesswire.com/617738/Concrete-Expert-Arrives-on-Site-to-Complete-Final-Phase-of-Construction-on-Aukam-Processing-Plant
Concrete Expert Arrives on Site to Complete Final Phase of Construction on Aukam Processing Plant
Friday, November 20, 2020 12:28 PM
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Company Update
TORONTO, ON / ACCESSWIRE / November 20, 2020 / Gratomic Inc. ("GRAT" or the "Company") (TSXV:GRAT)(OTC Pink:CBULF)(FRANKFURT:CB81)(WKN:A143MR) is pleased to announce the arrival of Fanie Barnard to its Aukam Graphite project in Namibia. Mr Barnard has been appointed to complete onsite construction and oversee the concrete work on the Aukam Graphite processing plant which is expected to be completed by the end of this month.
Mr Barnard has steel and concrete experience on previous projects with many high-profile companies including Glencore and Anglo American. He has been tasked to supervise rebar and baseplate installations and the pouring of concrete foundations. Fanie Barnard is leading the final phase of foundation construction for the Rotary Drier, Filter Press, Cyclone, Material Hopper, Material Thickener Tank and Product Thickener Tank.
Gratomic would also like to report that a local company, Pro Edge Steel, in Keetmanshoop is responsible for designing and supplying various structural base plates and steel frames. Pro Edge has delivered the first order of steel structures to the Aukam Processing site and we expect further delivery of the steel frames in short order.
Excavation work for the multiple foundations on site was completed in late October. In total, Company employees excavated approximately 414 tonnes of material. This work will accommodate the multiple tanks and final pieces of equipment for the Company's custom designed Graphite Processing Plant with a design capacity of 20,000 tpa. The Processing Plant has been designed on a modular basis with an over-engineered front and back end to accommodate easy future expansion through the inclusion of added columns and mixing tanks.
With excavation work completed on Aukam, the team has begun installing concrete forms and rebar in preparation for the final construction phase. The structural base plates and hold-down bolts are being carefully positioned into the concrete foundations during the pouring process. Once the concrete has been properly cured, the equipment structures and support frames will be assembled and installed onto the new foundations.
Fanie Barnard, and Gratomic's Aukam team have begun work on the installation of rebar and pouring of concrete on all required foundations. The rotary dryer foundation is the first equipment foundation being poured on the expansion of the Company's Graphite Processing Plant. The custom built rotary dryer consists of 6 steel frames, a dryer inlet frame, inlet support frame, main support frame, outlet frame, drive frame and motor-gearbox frame.
The mounting frames and rotary dryer will be installed and mounted once the concrete foundation has cured. The drive motor assembly and final hookups to the unit will then be completed, tested and calibrated upon plant commissioning. At 39 feet long and a drying capacity of 5 tonnes per hour, the rotary dryer will play a key role in the final processing phase of generating high quality graphite concentrate from Aukam.
The Company would like to provide an additional update on the progress made by the local masonry crew from Aus (see press release November 9th, 2020). The crew has now completed the construction work on the base frame of the water filtration and deionization unit.
Workers have completed the excavation work on the processing plant's settling reservoir. The excavation has been completely lined with a black plastic liner to prevent seepage of water. Concrete pouring of the foundation started this morning and has subsequently been completed. Workers will now start pulling up the six tier overflow settling reservoir walls which will be plastered with a chemical and water tight seal to further minimize seepage. When completed the reservoir will be filled with water and left to cure for 21 days allowing the cement to cure.
Gratomic would also like to provide an update on the graphite flotation circuit. Company workers recently disassembled and removed the components from the pilot processing facility. This equipment was utilized to generate the data sets required to engineer the 20,000 tonne per year processing facility at Aukam. The new mixing tanks and vertical flotation columns were manufactured by Pro Edge Steel and will be installed on the existing sump that was utilized for the pilot facility. The sump was originally designed to a size that will allow it to fully contain all the water from the new six commercial sized columns with a minimum free board of 4 feet, if all of them were to fail at the same time. This is another great example of the Company's capability to plan ahead for future development and make sure it is doing its part to sustain the environment in which it is working.
The Company wishes to advise that C.B Burger engineering has completed manufacturing the Material Hopper and Graphite Concentrate Chipper. The material hopper and chipper were designed by the company's engineering team alongside the manufacturing team from South Africa, C.B Burger Engineering. We would like to thank our Chief on-site geologist, Corne Coetser, for his agility in taking on this part of the processing plant and organizing the execution and build of these vital pieces of equipment.
The company designed the Material Hopper to hold up to 80 tonnes of graphite material and to act as a buffer to keep the processing plant running for up to 1 and a half days without flow disruption during maintenance. The Hopper will be fed continuously by the already constructed crushing and screening circuit of the processing plant. The material hopper was designed to feed directly into the rod mill with a horizontal screw conveyor using a VSD (variable speed drive) to control the material fed into the rod mill.
The custom designed Graphite Concentrate Chipper which will be fed by the filter press, is made from stainless steel to prevent any contamination of the Company's final product. The chipper has a capacity to handle up to 2.7 tonnes per hour of graphite concentrate that will feed directly into a supply hopper for the rotary dryer. With these last two equipment components completed and en-route to site, Gratomic is pleased to advise that all components for the Aukam custom built processing plant are now manufactured and assembly will be completed over the upcoming weeks.
"With multiple skilled crews now working on-site, we could not be more proud of the progress being made on our custom designed processing plant. We would also like to thank our very supportive shareholders and investors, who have given Gratomic the opportunity to bring the Aukam graphite deposit back to life." says President and CEO, Arno Brand.
"The custom built plant, carefully designed to optimize the processing of the unique material we expect to obtain from the Aukam deposit, is one of the Company's best competitive advantages," says COO & Head of Graphite Marketing and Sales, Armando Farhate.
About Gratomic Inc.
Established in 2014, Gratomic is an advanced materials company focused on low-cost mine to market commercialization of carbon-neutral, Eco-friendly, high purity vein graphite and is set to become a key player in EV and Renewable Resource supply chains. Gratomic Inc. is a leader among peers, anticipating full operational capabilities in late 2020 and aiming to transition to an open pit operation as early as the end of 2021.
Gratomic is in the process of solidifying its development plans for micronization and spheronization of its clean Aukam graphite. This significant milestone is a small, additional step in the Company's existing Eco-friendly processing cycle and will allow its naturally high purity graphite to meet ideal North American battery grade standards for use in Li-ion battery anodes.
The Company promises to deliver mine-to-market traceability and guaranteed quality control. This will be accomplished by providing documented tracking on all graphite generated at its flagship Aukam Graphite Project. The tracking will begin at Aukam and will be verified at every stage during transport.
Two off-take purchase agreements are currently held for lump-vein graphite sourced from Gratomic's Aukam Graphite Project in Namibia, Africa. Fulfillment of the contracts is slated to begin in 2021. The agreements exist with TODAQ and Phu Sumika.
TODAQ is an innovative tech company and will partner with Gratomic on its mine-to-market commodity tracking.
Phu Sumika is a large global graphite supplier to battery and lubrication companies.
Gratomic Inc. is listed on the TSX Venture Exchange under the symbol GRAT.
For more information: visit the website at www.gratomic.ca or contact:
Arno Brand at abrand@gratomic.ca or 416 561-4095
Subscribe to the link below to receive news and updates
https://gratomic.ca/contact/
"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
Risk Factors
No mineral resources, let alone mineral reserves demonstrating economic viability and technical feasibility, have been delineated on the Aukam Property. The Company is not in a position to demonstrate or disclose any capital and/or operating costs that may be associated with the processing plant.
The Company advises that it has not based its production decision on even the existence of mineral resources let alone on a feasibility study of mineral reserves, demonstrating economic and technical viability, and, as a result, there may be an increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, including increased risks associated with developing a commercially mineable deposit.
Historically, such projects have a much higher risk of economic and technical failure. There is no guarantee that production will begin as anticipated or at all or that anticipated production costs will be achieved.
Failure to commence production would have a material adverse impact on the Company's ability to generate revenue and cash flow to fund operations. Failure to achieve the anticipated production costs would have a material adverse impact on the Company's cash flow and future profitability
Steve Gray, P. Geo. and a Director of the Company has reviewed and approved the scientific and technical information in this press release and is the Company's "Qualified Person" as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
FORWARD LOOKING STATEMENTS:
This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com.
SOURCE: Gratomic Inc.
https://investingnews.com/news/emerging-tech-investing/gratomic-signs-agreement-to-acquire-remaining-37-interest-in-aukam-property/
Gratomic Signs Agreement to Acquire Remaining 37% Interest in Aukam Property
Investing News Network - November 19th, 2020
gratomic logo
Gratomic Inc. is pleased to report that it has entered into a definitive agreement with Next Graphite, Inc. for the acquisition of NextG’s 37% interest in Gazania 242 Pty Ltd. the Namibian company which holds the licenses on the Aukam property . The Agreement was dated November 12, 2020 and executed on November 16, 2020. The parties negotiated an amendment to the Agreement dated November 16, 2020 which was executed …
Gratomic Inc. (“GRAT” or the “Company”) (TSXV:GRAT)(OTC PINK:CBULF)(FSE:CB81)(WKN:A143MR) is pleased to report that it has entered into a definitive agreement (the “Agreement”) with Next Graphite, Inc. (“NextG”), for the acquisition of NextG’s 37% interest (the “Interest”) in Gazania 242 Pty Ltd. (the “Acquisition”), the Namibian company which holds the licenses on the Aukam property (“Aukam”). The Agreement was dated November 12, 2020 and executed on November 16, 2020. The parties negotiated an amendment to the Agreement dated November 16, 2020 which was executed on November 19, 2020. Upon completion of the acquisition, Gratomic will hold 100% of the rights and interests in the Aukam Mining License (ML215) and exploration License (EPL 3895
Arno Brand, President and CEO commented, “It has been a pleasure working with Cliff Bream and his team at Next Graphite over the years and I look forward to continuing a strategic business relationship and building a strong future for Aukam together.”
In consideration for the Interest, Gratomic will, upon closing of the Acquisition (the “Closing“), issue 18,986,188 common shares (the “Escrowed Shares“), valued at $0.14 per share, and 2,272,727 common shares (the “Additional Shares” and collectively with the Escrowed Shares, the “Consideration Shares“)) in the capital of Gratomic (the “Common Shares“). Additionally, Gratomic has agreed to honour its previous contractual condition to provide NextG with US$500,000 from the first US$1,000,000 of net revenue generated from sales of graphite from the Aukam property pursuant to the issuance of the Additional Shares and the agreement to pay US$250,000 (the “Revenue Amount“). In the event the Revenue Amount is not paid in full by the 12-month anniversary of the Closing (the “Due Date“), then any outstanding Revenue Amount will be settled by the issuance to NextG of that number of common shares (the “Settlement Shares“) as is arrived at by dividing the then outstanding Revenue Amount by the closing price of the Common Shares on the first trading day following the Due Date, less the maximum discount allowed by the rules of the TSX Venture Exchange (“TSXV“).
The Consideration Shares will be issued to third parties and NextG shareholders (the “NG Recipients“), as directed by NextG, upon condition that no such issuance will result in any such recipient holding more than 9.9% of the Common Shares of Gratomic post issuance. The Escrowed Shares will be subject to an 18-month escrow subject to a release of 1/3 of the original balance every 6 months, pro rata, and the Additional Shares will be subject to an 12-month escrow and shall be released from escrow, pro rata, on the Due Date.
Gratomic has also granted the NG Recipients a right to participate in any future financings of Gratomic at the same price as any other participants on a pro rata basis to its percentage holding in Gratomic (calculated on the basis of the number of Consideration Shares remaining in Escrow) at the time of any such fundraise (calculated on a non-dilutive basis).
The Acquisition (including the issuance of the Consideration Shares and Additional Shares, if any) is subject to the fulfillment of certain conditions precedent as are customary for transactions of this size including the approval of the TSXV.
Cliff Bream, President and CEO of Next Graphite said, “we feel that combining the interests in Aukam will optimize the potential of Aukam and allow the shareholders of NextG to participate in the success of Gratomic. Many of us in the two companies have worked together for years, and we have great confidence that Gratomic will be successful with the Aukam project”.
About Gratomic Inc.
Established in 2014, Gratomic is an advanced materials company focused on low-cost mine to market commercialization of carbon-neutral, Eco-friendly, high purity vein graphite and is set to become a key player in EV and Renewable Resource supply chains. Gratomic Inc. is a leader among peers, anticipating full operational capabilities in late 2020 and aiming to transition to an open pit operation as early as the end of 2021.
Gratomic is in the process of solidifying its development plans for micronization and spheronization of its clean Aukam graphite. This significant milestone is a small, additional step in the Company’s existing Eco-friendly processing cycle and will allow its naturally high purity graphite to meet ideal North American battery grade standards for use in Li-ion battery anodes.
The Company promises to deliver mine-to-market traceability and guaranteed quality control. This will be accomplished by providing documented tracking on all graphite generated at its flagship Aukam Graphite Project. The tracking will begin at Aukam and will be verified at every stage during transport.
Two off-take purchase agreements are currently held for lump-vein graphite sourced from Gratomic‘s Aukam Graphite Project in Namibia, Africa. Fulfillment of the contracts is slated to begin in 2021. The agreements exist with TODAQ and Phu Sumika.
TODAQ is an innovative tech company and will partner with Gratomic on its mine-to-market commodity tracking.
Phu Sumika is a large global graphite supplier to battery and lubrication companies. Gratomic Inc. is listed on the TSX Venture Exchange under the symbol GRAT.
For more information: visit the website at www.gratomic.ca or contact:
Arno Brand at abrand@gratomic.ca or 416 561-4095
Subscribe to the link below to receive news and updates
https://gratomic.ca/contact/
“Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.”
FORWARD-LOOKING STATEMENTS:
This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com.
$GRAT = Halted pending news!!!!!
https://www.businesswire.com/news/home/20201112006099/en/FSD-Pharma-Announces-Third-Quarter-2020-Financial-Results-and-Provides-Corporate-Update
FSD Pharma Announces Third Quarter 2020 Financial Results and Provides Corporate Update
November 12, 2020 05:00 PM Eastern Standard Time
TORONTO--(BUSINESS WIRE)--FSD Pharma Inc. (Nasdaq: HUGE) (CSE: HUGE) (“FSD Pharma” or the “Company”) today announced its financial results for the third quarter ending September 30, 2020 and provided a corporate update. The filing is available on SEDAR.
Financial and corporate highlights include:
Completion of financings for gross proceeds of $19.5 million USD through two registered direct offerings. As of September 30, 2020, cash & non-cash assets are $56.2 million CAD and short & long term liabilities are $13.6 million CAD.
Filing an Investigational New Drug Application (“IND”) application with the U.S. Food and Drug Administration (“FDA”) and receiving approval to initiate a Phase 2 clinical trial for the use of our lead compound, ultramicronized-palmitoylethanolamide (or ultramicronized PEA) (“FSD201”), to treat 352 hospitalized COVID-19 patients in a double-blind study. We believe FSD201 to be a safe drug with anti-inflammatory properties which may have the potential to address the over-exuberant inflammatory response characterized by COVID-19 infection that may lead to a cytokine storm and ultimately death. The Company believes it has sufficient cash on hand to complete the study. More information on the clinical trial is available on the U.S. National Library of Medicine Website at: https://clinicaltrials.gov/ct2/show/NCT04619706?term=palmitoylethanolamide&cond=Covid19&draw=2&rank=2. The contents of such website are not incorporated by reference herein.
Entry into a definitive settlement agreement with respect to the class action litigation commenced by a plaintiff shareholder in the Ontario Superior Court of Justice in February 2019 relating to the build out of the Company’s facility in Cobourg, Ontario. The Company is obligated to pay $5.5 million CAD in settlement; of which, approximately $4.6 million CAD will be funded from insurance proceeds and $0.9 million CAD will be paid from cash on hand by the Company. The settlement agreement is subject to customary conditions.
Entry into a conditional contract to sell non-core real estate asset in Cobourg, Ontario which is expected to close before year end 2020 and is subject to customary conditions.
Three and Nine Months’ Financial Results (All Figures in C$)
For the three and nine months ended September 30, 2020, total operating expenses were $17,486,928 and $32,791,748, respectively, compared to $11,119,296 and $21,474,025 for the comparative periods in the prior year. This represents an increase of $6,367,632 or 57% for the three months ended September 30, 2020 and an increase of $11,317,723 or 53% for the nine months ended September 30, 2020, compared to the equivalent periods in the prior year. The increase for the three and nine months ended September 30, 2020 compared to the three and nine months ended September 30, 2019 is primarily related to pharmaceutical R&D expense of the Phase 1 safety & tolerability study of FSD201, ongoing Phase 2 clinical study of FSD201 to evaluate treatment of hospitalized COVID-19 patients, higher stock based compensation, higher professional fees, and insurance expense as a result of the Nasdaq listing in January 2020.
For the three and nine months ended September 30, 2020, net loss was $18,034,382 and $36,450,247, respectively, compared to $16,962,007 and $34,949,559 for the three and nine months ended September 30, 2019. This represents an increase of $1,072,375 or 6% for the three months ended September 30, 2020 and an increase of $1,500,688 or 4% for the nine months ended September 30, 2020, compared to the equivalent periods in the prior year. The net loss in the three, and, nine month period ending September 30 2020 includes share based compensation of $6,870,177 and one time charge of $928,541 for the class action settlement.
The Company is not making any express or implied claims that its product has the ability to eliminate, cure or contain the COVID-19 (or SARS-2-Coronavirus) at this time.
About FSD Pharma
FSD Pharma Inc. is a publicly-traded holding company.
FSD Pharma BioSciences, Inc., a wholly-owned subsidiary, is a specialty biotech pharmaceutical R&D company focused on developing over time multiple applications of its lead compound, FSD201, by down-regulating the cytokines to effectuate an anti-inflammatory response.
The Company filed an IND with the FDA on August 28, 2020 and was approved on September 25, 2020 to initiate a phase 2 clinical trial for the use of FSD201 to treat COVID-19, the disease caused by the SARS-CoV-2 virus.
Severe COVID-19 is characterized by an over-exuberant inflammatory response that may lead to a cytokine storm and ultimately death. The Company is focused on developing FSD201 for its anti-inflammatory properties to avoid the cytokine storm associated with acute lung injury in hospitalized COVID-19 patients.
Forward-Looking Statements
New out for $TRIP !! https://www.newsfilecorp.com/release/67870/Red-Light-Holland-to-Acquire-Wholesale-Distribution-Company-in-the-Netherlands-Providing-Access-to-over-1000-Retail-Outlets-in-Multiple-EU-Countries
Red Light Holland to Acquire Wholesale Distribution Company in the Netherlands Providing Access to over 1,000 Retail Outlets in Multiple EU Countries
Toronto, Ontario--(Newsfile Corp. - November 10, 2020) - Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (OTC: TRUFF) ("Red Light Holland" or the "Company"), is pleased to announce it has entered into a non-binding letter of intent to acquire SR Wholesale B.V. ("SR Wholesale"), one of the Netherlands' premiere distributors for quality Truffles, CBD products, cannabis seeds, Smartshop items, Headshop products, Growshop goods and Cannabis Bake House edibles. SR Wholesale has established a distribution network of over 300 companies that sell their products across Europe, including working with sub-distributors which provide products to over 1,000 shops in countries like the Netherlands, Germany, Spain, Czech, Greece, UK, France, and Portugal.
"This is a huge step forward for Red Light Holland, potentially rapidly expanding the distribution of our iMicrodose Packs to an expected 150-200 Smartshops. As well, the potential acquisition of SR Wholesale enables Red Light Holland to own one of the Netherlands' top wholesale companies, in the sector," said Todd Shapiro, CEO and Director of Red Light Holland. "While there is a due diligence process ahead, including understanding all the legalities of SR Wholesale's extensive business, we at Red Light Holland are extremely excited by the potential to significantly expand our footprint and our revenues in the Netherlands, plus a plethora of other countries in the EU via the distribution network SR Wholesale has with over 1,000 retail shops."
"So far working with Hans Derix and Todd Shapiro has been an amazing experience," said Shai Ramashai, CEO of SR Wholesale. "My team and I have built an amazing wholesale and distribution business, with prompt service, where over 1,000 retail shops, all over Europe, have relied on us for quality products, as fast as you they can make the order! We pride ourselves on our dedicated customer service team, and we are confident that, if the final acquisition comes to fruition, Red Light Holland, with my assistance, will continue to grow, what we have worked so hard in doing since its successful inception in 2017."
Separately, Red Light Holland is pleased to report that SR Wholesale has also entered into a definitive purchase agreement to buy the entire crop of Red Light Holland's expected 100,000 grams of psilocybe Galindoi, psilocybe Mexicana and psilocybe Tampanensis Truffles, from the Company's first official harvest.
About SR-Wholesale B.V.
SR Wholesale B.V. is a Dutch company based in Schijndel, Netherlands, specialized in the selection, distribution and export of Products such as Truffles, CBD products, cannabis seeds, Smartshop items, Headshop products, Growshop goods and Cannabis Bake House muffins, cookies and cakes. SR Wholesale has been operating successfully in the exceptionally competitive sales market for more than 4 years, in multiple European countries reaching over 1,000 retail shops.
Election tonight I see a huge bounce back after election for huge
exciting times the only mushroom company that's public in canada that is generating revenues!!!
https://www.accesswire.com/611084/Gratomic-Inc-Mobilizes-Drill-Fleet-to-Further-Delineate-Graphite-Mineralization
Gratomic Inc. Mobilizes Drill Fleet to Further Delineate Graphite Mineralization
https://businessnewstribune.com/2020/10/13/fda-gives-go-ahead-for-a-clinical-trial-evaluating-a-novel-anti-inflammatory-drug-for-those-hospitalized-with-covid-19
The FDA has authorized the initiation of a Phase 2 study for the use of an anti-inflammatory drug called FSD201 (ultramicronized palmitoylethanolamide, or ultramicronized PEA) to treat COVID-19, the disease caused by the SARS-CoV-2 virus. The trials are expected to start this month. The maker of the drug, Toronto-based FSD Pharma believes FSD201 may have the potential to address the over-exuberant inflammatory response characterized by COVID-19 infection that may lead to a cytokine storm and ultimately death.
According to Dr. Raza Bokhari, Executive Co-Chairman & CEO of FSD Pharma, “We are joining the global fight against the deadly SARS-CoV-2 virus with a hope to demonstrate down-regulation of the over-expressed immune response in COVID-19 patients leading to better treatment outcome. FSD201 is formulated as a tablet for oral dosing and is a safe compound with no known serious adverse side effects. Numerous studies over the past 40 years have validated micronized PEA for its efficacy and safety in the treatment of, and prophylactic effects with respect to, other respiratory infections.”
The FSD201 COVID-19 Trial is a randomized, controlled, double-blind, multicenter study, conducted on 352 patients to assess the efficacy and safety of FSD201 dosed at 600mg or 1200mg twice-daily, together with standard-of-care compared to SOC alone in hospitalized patients with documented COVID-19 disease. Eligible patients will present symptoms consistent with influenza/coronavirus signs (fever, dry cough, malaise, difficulty breathing) and newly documented positive COVID-19 disease.
The primary objective of the FSD201 COVID-19 Trial is to determine whether FSD201 plus SOC provides a significant improvement in the clinical status of patients (e.g., shorter time to symptom relief). Secondary objectives of the FSD201 COVID-19 Trial include determining whether FSD201 plus SOC demonstrates additional benefit in terms of safety, objective assessments such as length of time to normalization of fever, length of time to the improvement of oxygen saturation and length of time to clinical progression, including the time to mechanical ventilation or hospitalization, and length of hospital stay. The exploratory endpoint is cytokine clearance as measured by Enzyme-Linked Immunosorbent Assay (ELISA). The treatment period for patients in the FSD201 COVID-19 Trial is 14 days and the primary endpoint is determined at 28 days.
The Company is not making any express or implied claims that its product could eliminate, cure or contain the COVID-19 at this time.
https://www.newsfilecorp.com/release/65332
Red Light Holland Reaches A Distribution Arrangement for iMicrodose Packs with Three (3) House of Smart Locations, in Rotterdam, Eindhoven and Den Bosch, Netherlands
High times magazine $TRIP https://hightimes.com/news/red-light-holland-launches-magic-truffle-retail-sales/
https://seekingalpha.com/instablog/344872-jay-currie/5500026-grat-green-graphite-in-namibia
Summary
Electric Vehicles are only as Green as their batteries.
Natural Graphite has the potential to have a much smaller environmental impact.
Gratomic Graphite is reducing CO2 footprint from mine to processing plant.
$HUGE : NASDAQ
FSD Pharma Begins Phase 2 Clinical Trial to Evaluate FSD201 for the Treatment of Hospitalized COVID-19 Patients
Published: Sep 28, 2020
FDA has authorized randomized, controlled, double-blind, multicenter study on 352 patients
https://www.biospace.com/article/releases/fsd-pharma-begins-phase-2-clinical-trial-to-evaluate-fsd201-for-the-treatment-of-hospitalized-covid-19-patients
Red Light Holland's Science and Innovation Division, Scarlette Lillie, Announces Collaboration with Jinfiniti Precision Medicine to Pursue Clinical Study Insights $TRIP
https://ca.finance.yahoo.com/news/red-light-hollands-science-innovation-123300479.html
Another possible green day today?
https://investingnews.com/company-profiles/gratomic-tsxv:grat/
Gratomic (TSXV:GRAT) is a resource exploration and development company focused on bringing the high-grade Aukam graphite project back into production. The Aukam property, which is located near the port of Luderitz in southern Namibia, hosts five underground adits that were mined between 1940 and 1974.
During past production at Aukam, five surface stockpiles were created at the time, with 73 composite samples taken from the lower three stockpiles assaying an average of 42 percent carbon as graphite (Cg). The stockpiles are ready to be processed and Gratomic intends to put them towards the initial feedstock for the first two years of production.
Based on this potential path to production, Gratomic Inc. believes it is on schedule to bring the Aukam project into production in Q4 of 2020. In anticipation of this milestone, Gratomic has been working to explore the Aukam project and improve its understanding of the graphite mineralization in the area. The company is led by a team of graphite experts and executives with lengthy experience working in Namibia, including CEO & President Arno Brand who has 12 years of experience working on major construction and mining projects in Africa.
Remember folks
Lithium , Everyone talking about Nickel , Cobalt , Magnesse howeever the constant is graphite!!!!
Check out gratomic if you have not yet !
NEWS RELEASE SOURCE
Gratomic Battery Update
Tuesday, September 22, 2020 8:00 AM
Share this article now
Topic:
Company Update
TORONTO, ON / ACCESSWIRE / September 22, 2020 / In light of Tesla's battery week Gratomic Inc. ("GRAT" or the "Company") (TSXV:GRAT)(OTC PINK:CBULF)(FRANKFURT:CB81) (WKN:A143MR) is gearing up to bring its high grade, environmentally sustainable graphite to the North American EV market.
In a race that started in 2012, Gratomic is the only one of several graphite companies that has successfully brought its asset through to the final construction phase.
The Company is now ready to introduce its graphite to battery producers for use in advanced anode technology. Being of such naturally high purity, Gratomic's vein graphite is ideal for use in this application, requiring simpler, less expensive and more efficient processing methods, resulting in a final product with naturally lower contents of deleterious elements.
In addition to its high purity levels, the Company's Aukam graphite is a much cleaner alternative to this market's current supply options as a sustainably sourced resource as per the Company's September 3rd Press Release. The Company intends to establish a new benchmark for recording and guaranteeing the product's carbon footprint, based on latest generation blockchain technology.
"Gratomic has entered into discussions with several carbon-to-battery experts with the intent to provide a tailored product for the battery market." says CEO and President, Arno Brand.
Gratomic wishes to emphasize that no Preliminary Economic Analysis ("PEA"), Preliminary Feasibility Study or Feasibility Study has been completed to support any level of production. In fact, no mineral resources, let alone mineral reserves demonstrating economic viability and technical feasibility, have been delineated on the Aukam Property.
The Company recently appointed Dr. Ian Flint to complete a preliminary economic assessment (PEA) on the Aukam Processing plant. The study, its recommendations, and their subsequent implementation, will provide conclusions and recommendations at a PEA level of comfort relating to the scale up of the existing processing plant to a commercial scale processing facility that will provide the desired concentrate grades and production rates. A preliminary economic assessment is preliminary in nature, it includes inferred mineral resources that are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized.
Gratomic wishes to emphasize that the supply of graphite pursuant to any off-take or supply agreement referred to in this Press Release is conditional on Gratomic being able to bring the Aukam project into a production phase, and for any graphite being produced to meet certain technical and mineralization requirements. Gratomic continues to move its business towards production and as part of its business plan, expects to obtain a National Instrument 43-101 Standards of Disclosure for Mineral Projects technical report to help it ascertain the economics of the Aukam project.
Risk Factors
No mineral resources, let alone mineral reserves demonstrating economic viability and technical feasibility, have been delineated on the Aukam Property. The Company is not in a position to demonstrate or disclose any capital and/or operating costs that may be associated with the processing plant.
The Company advises that it has not based its production decision on even the existence of mineral resources let alone on a feasibility study of mineral reserves, demonstrating economic and technical viability, and, as a result, there may be an increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, including increased risks associated with developing a commercially mineable deposit.
Historically, such projects have a much higher risk of economic and technical failure. There is no guarantee that production will begin as anticipated or at all or that anticipated production costs will be achieved.
Failure to commence production would have a material adverse impact on the Company's ability to generate revenue and cash flow to fund operations. Failure to achieve the anticipated production costs would have a material adverse impact on the Company's cash flow and future profitability.
Steve Gray, P. Geo. and a Director of the Company has reviewed and approved the scientific and technical information in this press release and is the Company's "Qualified Person" as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
About Gratomic Inc.
Gratomic is an advanced materials company focused on mine to market commercialization of graphite products and components for a range of mass market products. The Company currently holds two off-take purchase agreements for graphite product sourced from the Aukam facility. One agreement is with TODAQ and the other is with Phu Sumika. The Company is listed on the TSX Venture Exchange under the symbol GRAT.
For more information: visit the website at www.gratomic.ca or contact:
Arno Brand at abrand@gratomic.ca or 416 561-4095
"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
Nice article about Gratomic !
https://seekingalpha.com/instablog/344872-jay-currie/5500026-grat-green-graphite-in-namibia
Tesla uses nickel graphite
vein graphite is also a clean source of graphite
who knows what can happen one thing for sure EV cars are not going away other makers will also compete with tesla in the future
Good news coming soon
Truffles are ready to go for sale end of september most likely
FSD Pharma Announces Phase 2 Clinical Trial IND Filing With The FDA to Treat Patients with COVID-19
– The study is expected to be conducted at 25-30 hospitals in North America –
TORONTO (August 31, 2020) – FSD Pharma Inc. (Nasdaq: HUGE) (CSE: HUGE.CN) (“FSD Pharma” or the “Company“) today announced that it has submitted to the U.S. Food and Drug Administration (“FDA“) an Investigational New Drug Application (IND) for the use of FSD201 (ultramicronized palmitoylethanolamide, or ultramicronized PEA) to treat COVID-19, the disease caused by the SARS-CoV-2 virus (the “FSD201 COVID-19 Trial“). Severe COVID-19 is characterized by an over-exuberant inflammatory response that may lead to a cytokine storm and ultimately death. As previously announced, FSD Pharma is focused on developing FSD201 for its anti-inflammatory properties to avoid the cytokine storm associated with acute lung injury in hospitalized COVID-19 patients.
COVID-19 Trial Design
The FSD201 COVID-19 Trial will be a randomized, controlled, double-blind, multicenter study, conducted at 25-30 sites in North America to assess the efficacy and safety of FSD201 dosed at 600mg or 1200mg twice-daily, together with standard of care (“SOC”) compared to SOC alone in hospitalized patients with documented COVID-19 disease.
FSD Pharma Reports Favorable Topline Results from Phase 1 First-in-Human Safety and Tolerability Study of Ultramicronized PEA
All subjects completed the trial per protocol, no safety concerns found up to the highest dose tested of 2400 mg/day
TORONTO (June 22, 2020) – FSD Pharma Inc. (Nasdaq: HUGE) (CSE: HUGE.CN) (FRA: 0K9A) (“FSD Pharma” or the “Company”) today announced favorable topline results from its Phase 1 randomized, double-blind, placebo-controlled study of ultramicronized palmitoylethanolamide (PEA), or FSD201. This single-site study was conducted at the Alfred Hospital, part of the Alfred Health group of hospitals serving the state of Victoria in Australia and enrolled 48 healthy adult men and women.
The trial sequentially tested single ascending doses ranging from 600 mg to 2400 mg tablets and multiple ascending doses ranging from 600 mg to 1200 mg tablets administered twice daily for 7 consecutive days. The single ascending dose subjects also were tested for food effect.
The study found ultramicronized PEA to be safe and well tolerated. Mild and self-limiting side effects were reported and were deemed unlikely to be related to study drug. There were no abnormal laboratory findings or ECGs observed during the study and no serious adverse events were reported. No subjects withdrew due to an adverse event and all eligible subjects completed all doses. The pharmacokinetic profile of FSD201 in this study is still being analyzed.
The study was led by principal researcher Jason Lickliter, MD, Chief Medical Officer of Nucleus Network, Australia.
“We are delighted to be reporting favorable topline findings from our Phase 1 first-in-human safety and tolerability study with FSD201. I congratulate our pharmaceutical team, led by Dr. Edward Brennan. This study has also successfully validated the considerable scientific literature published over the years in Europe that claims safety and tolerability of micro-PEA,” said Raza Bokhari, MD, Executive Co-Chairman & CEO.
“Our immediate plans for FSD201 include submitting these Phase 1 trial results for publication in a peer-reviewed journal and advancing this compound into a Phase 2a proof-of-concept trial for the treatment of COVID-19,” continued Dr. Bokhari. “The U.S. Food and Drug Administration recently gave the Company permission to submit an Investigational New Drug application for the use of FSD201 to treat COVID-19. We contacted the FDA after becoming aware that Italian physicians and scientists were advocating for use of ultramicronized PEA for patients suffering from symptoms of COVID-19, based on the drug’s mechanism of action as a potent and safe anti-inflammatory agent that reduces the production of pro-inflammatory cytokines and may help mitigate a cytokine storm.”
The Company is not making any express or implied claims that its product has the ability to eliminate, cure or contain the Covid-19 (or SARS-2 Coronavirus) at this time.
FSD Pharma Receives U.S. FDA Approval to design a Phase 2a Clinical Trial to Treat Patients with Suspected or Confirmed COVID-19 Diagnosis
TORONTO (June 3, 2020) – FSD Pharma Inc. (Nasdaq: HUGE) (CSE: HUGE.CN) (FRA: 0K9A) (“FSD Pharma” or the “Company”) today announced that the U.S. Food and Drug Administration (FDA) has given the company permission to submit an Investigational New Drug Application (IND) for the use of FSD-201 (ultramicronized palmitoylethanolamide, or ultramicronized PEA) to treat COVID-19, the disease caused by the SARS-CoV-2 virus. Severe COVID-19 is characterized by an over-exuberant inflammatory response that may lead to a cytokine storm and ultimately death. FSD Pharma is focused on developing FSD-201 for its anti-inflammatory properties to avoid the cytokine storm associated with acute lung injury in hospitalized COVID-19 patients.
“FDA’s permission to design a proof-of-concept study in COVID-19 patients evaluating clinical doses of FSD-201 is a paradigm shift for FSD Pharma and is the result of outstanding work conducted by Dr. Edward Brennan, President FSD BioSciences, and his team,” said Raza Bokhari, MD, Executive Co-Chairman & CEO. “We contacted the FDA in late-March 2020 after becoming aware that several Italian physicians and scientists were advocating for use of ultramicronized PEA for patients suffering from symptoms of COVID-19, based on the drug’s mechanism of action as a potent and safe anti-inflammatory agent that reduces the production of pro-inflammatory cytokines. Numerous studies over the past 40 years also validate the efficacy and safety of ultramicronized PEA in the treatment and prophylactic effects in respiratory infections. These studies also pointed out that the ease of application of PEA offers the possibility to have a quick therapeutic answer ready in case of a flu epidemic.”
COVID-19 Trial Design
Based on the FDA feedback received to date, we expect the trial will be a randomized, controlled, double-blind, U.S. multicenter study to assess the efficacy and safety of FSD-201 dosed 600mg or 1200mg twice-daily plus standard of care (SOC) versus SOC alone in symptomatic patients with clinical presentation compatible with COVID-19. Eligible patients will present with symptoms consistent with influenza/coronavirus signs (fever, dry cough, malaise, difficulty breathing) and/or newly documented positive COVID-19 disease.
The primary endpoint is to determine if FSD-201 plus SOC provides a significant improvement in clinical status (i.e., shorter time to symptom relief). Key secondary objectives include determining if FSD-201 plus SOC demonstrates additional benefit in terms of safety, objective assessments such as length of time to normalization of fever, length of time to improvement of oxygen saturation and length of time to clinical progression including time to mechanical ventilation or hospitalization, and length of hospital stay. The exploratory endpoint is cytokine clearance as measured by Enzyme Linked Immunosorbent Assay (ELISA).
The treatment period is expected to be 14 days. All patients who experience clinical benefit are expected to continue to receive their assigned treatment until study completion.
Rationale for Ultramicronized PEA in COVID-19
More than 600 scientific papers attest to the physiological properties of PEA and its role as an endogenous modulator, as well as its pharmacological and therapeutic effects, specifically its anti-inflammatory profile.
PEA acts via multiple mechanisms either directly to activate PPAR-a and GPR55 or indirectly through the inhibition of FAAH, which increases endogenous levels of anandamide (AEA) and 2-arachidonoyl-glycerol (2-AG). These endocannabinoids directly activate CB2 (or CB1) receptors and TRPV1 channels (entourage effect). PEA may also activate TRPV1 channels via PPAR-a.
AEA has been shown to inhibit tumor necrosis factor-a-induced NF-kappa B activation, independent of CB1 and CB2. Saturated acylethanolamides such as PEA (an endogenous congener of AEA) may act in an analogous fashion to modify chronic inflammation in autoimmune disorders.
Nobel laureate Rita Levi-Montalcini described the importance of the activation of the inflammatory cascade and in 1993 discovered that PEA functions as a mast cell modulator by reducing mast cell migration and degranulation; thus, PEA reduces the pathological overactivation of these cells and the activity of proinflammatory cytokines (such as TNF-a and IL6), cyclooxygenase and iNOS. It is this excess immune response activity that contributes to the physiologic derangement induced by influenza viruses and sets up the pathogenesis of the “cytokine storm.”
In summary, PEA down regulates hyperactive mast cells, inhibits iNOS expression and nuclear NF-kappa B translocation. It is theorized that coronavirus activates the cellular IKK/NF-kappa B signaling pathway for replication; therefore, PEA as a PPAR-a agonist may ameliorate oxidative/nitrosative stress induced by NF-kappa B and may be a suitable agent for antiviral intervention.
In addition, PEA has repeatedly been shown to down-modulate excess immune response activity that contributes to the physiologic derangement induced by viruses and help mitigate the pathogenesis of the “cytokine storm.”
The detailed description of the role of PEA in viral pathogenesis via multiple mechanistic pathways can be found in Jan MKH, Theca AMH (2017) Palmitoyl Ethanol Amide in Prophylaxis and Treatment of Viral Infections. Infect Dis Diag Treat 2017: J103.
Between 1969 and 1979, PEA was marketed as Impulsin by a pharmaceutical manufacturer in the former Czechoslovakia to treat influenza and the common cold. During this period, clinical trials were conducted for these indications that involved nearly 4,000 patients and volunteers across six randomized, double-blind, placebo-controlled trials. Together, these clinical trials demonstrate that PEA has clear treatment and prophylactic effects in respiratory infections, and is safe in its use. Side effects were not reported, and study authors explicitly stated that “No side effects were registered after several years of clinical testing of Impulsin in military and civilian communities.” They also pointed out that the ease of application of PEA offers the possibility to have a quick therapeutic answer ready in case of a flu epidemic.
In addition, since 2004 PEA has been dispensed in Italy and Spain as a prescription-based medical food supplement. More recently, the Company was made aware that several Italian physician-scientists are advocating for the use of ultramicronized-PEA for patients suffering from symptoms of COVID-19, and that several are using ultramicronized PEA to treat COVID-19 patients in Italy on a compassionate use basis.
Background on Ultramicronized PEA
FSD Pharma acquired worldwide rights (ex-Italy and Spain) to ultramicronized PEA from Epitech Group, an Italian pharmaceutical company that invented and holds the patents until 2034 for ultramicronized PEA (defined as 0.6 -10µM particle size). PEA is a naturally occurring fatty acid amide that was first discovered in the yolks of chicken eggs. It is biosynthesized from a membrane phospholipid and is degraded to palmitic acid and ethanolamine, and serves as an anti-inflammatory modulator within the cell.
Epitech markets ultramicronized PEA as a prescription-based “Food for Special Medical Purposes” in Italy under the brand name Normast® 600mg oral tablets, for several chronic pain and inflammatory conditions, including sciatic pain and diabetic neuropathy.
FSD is focused on developing ultramicronized-PEA (FSD-201) for its anti-inflammatory properties. A first-in-human safety and tolerability study is currently progressing in Australia led by principal researcher Jason Lickliter, MD, Chief Medical Officer of Nucleus Network.
Many clinical trials assessing the safety and efficacy of ultramicronized PEA on chronic pain have been published in the last decade. A number of studies have demonstrated that ultramicronized PEA at doses up to 2700mg/day administered to patients with various chronic pain syndromes induced a significant decrease in pain intensity, compared with control groups. In addition, clinical studies have demonstrated that ultramicronized PEA is generally very well tolerated. More than 1,500 patients have received either ultramicronized or micronized PEA in clinical studies and no serious adverse events were reported in the vast majority of these studies at doses as high as 2700mg/day.
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TORONTO--(BUSINESS WIRE)--FSD Pharma Inc. (Nasdaq: HUGE) (CSE: HUGE.CN) (“FSD Pharma” or the “Company”) today announced that it has submitted to the U.S. Food and Drug Administration (“FDA”) an Investigational New Drug Application (IND) for the use of FSD201 (ultramicronized palmitoylethanolamide, or ultramicronized PEA) to treat COVID-19, the disease caused by the SARS-CoV-2 virus (the “FSD201 COVID-19 Trial”). Severe COVID-19 is characterized by an over-exuberant inflammatory response that may lead to a cytokine storm and ultimately death. As previously announced, FSD Pharma is focused on developing FSD201 for its anti-inflammatory properties to avoid the cytokine storm associated with acute lung injury in hospitalized COVID-19 patients.
COVID-19 Trial Design
The FSD201 COVID-19 Trial will be a randomized, controlled, double-blind, multicenter study, conducted at 25-30 sites in North America to assess the efficacy and safety of FSD201 dosed at 600mg or 1200mg twice-daily, together with standard of care ("SOC") compared to SOC alone in hospitalized patients with documented COVID-19 disease.