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Again a very positive Quarter report plus significant future scenario
laid out by management.Let's hope they achieve their goals.
/ Kontrol Energy Corp. (CSE:KNR)(OTCQB:KNRLF)(FSE:1K8) ("Kontrol" or "Company") a leader in the energy efficiency sector through IoT, Cloud and SaaS technology announces its financial results for the three months ended March 31st, 2020.
A complete set of Financial Statements and Management's Discussion & Analysis will be filed on SEDAR (www.sedar.com) on June 1st, 2020. A call to discuss the financial results has been scheduled for Monday, June 1st, 2020 at 4:30pm (EST). See details below.
"In a challenging business environment, we continue to execute on our vision and strategic plan," says Paul Ghezzi, CEO Kontrol Energy. "We have been operating as an essential service provider, through the COVID-19 crisis, meeting the needs of our existing customers and expanding into new markets. We have been very focused on managing our costs and ensuring fiscal discipline across our operating platform and are pleased that we have been able to deliver positive EBITDA in Q1. The Company does not require to raise capital for daily business operations and following Q1 has entered into a definitive Share Purchase Agreement for an accretive acquisition to continue our growth."
Highlights
• Revenue of $2.8 million
• EBITDA of $241,343
• Significant operating expense reductions of approximately $250K in Q1
• Gross margin increased to 61% up from 51% for the comparative quarter in prior year
• Announced signing of a new acquisition subsequent to Q1 with financial closing anticipated in Q2
• A portion of our Q1 revenues related to industrial customers were delayed and could not be completed in Q1 resulting in lower than anticipated revenues. As industrial facilities in Canada and the USA have commenced their re-opening in May 2020, following a period of shutdown related to COVID-19, these revenues are anticipated to be realized over the balance of 2020 calendar year.
• Q1 2020 Financial Highlights
• In Q1 the Company took decisive action to reduce all variable and discretionary costs associated with project delivery and on-site customer upgrades. This has allowed the Company to achieve approximately $250K in costs savings in Q1 to offset project revenues that have been impacted by plant shutdowns. A portion of our Q1 revenues related to industrial customers were delayed and could not be completed in Q1 resulting in lower than anticipated revenues. As industrial facilities in Canada and the USA have commenced their re-opening in May 2020, following a period of shutdown related to COVID-19, these revenues are anticipated to be realized over the balance of 2020 calendar year.
• FY 2020 Outlook
• Despite the challenges presented by COVID-19 in Q1 the Company anticipates continued growth and assuming we are successful in closing our target acquisition, we anticipate delivering our strongest year of revenue and earnings in fiscal year 2020. The Company is updating its previously 2020 anticipated revenue and earnings target to $18 to $20 Million in revenue and $1.5 Million to $2 million of EBITDA.
• In Q2 of 2020 the Company entered into a Memorandum of Understanding ("MOU") and 2 pilots with a European Original Equipment Manufacturer ("OEM") in the HVAC sector. The goal of the pilots is to establish Kontrol's enterprise software for energy and facilities management with the OEM and build a white label solution. The OEM has its HVAC technology deployed across 20,000 locations globally.
• In Q2 of 2020 the Company also announced that it will be working with its building owner clients to use its energy software to better manage heating, cooling and ventilation systems in real-time in relation to COVID-19. There is growing concern in the broader economy that poorly managed buildings could be spreading COVID-19 inadvertently through poor air quality, poor air circulation and dense population. Kontrol will be deploying software and hardware solutions which include ultra-violet light solutions and building automation managed in real-time.
• * Adjusted EBITDA is a non-IRFS financial measure. The Company defines Adjusted EBITDA as net income or loss before interest, income taxes, amortization, and depreciation, share based compensation, and acquisition related expenses."
A very positive message from management , that clarified the changed status of MIT.
"As we navigate these turbulent times, we wanted to give you an update on how we believe The Mint Corporation (TSXV: MIT) ("Mint") is well positioned for 2020 and beyond. We would like to highlight several significant developments over the past few months and our current plans to further build our business.
New Majority Shareholder
At the end of December 2019, Global Business Services for Multimedia ("GBS"), Mint's business partner in the United Arab Emirates ("UAE"), became majority owner of Mint through its purchase of the Mint common shares formerly held by Gravitas Financial Inc. ("GFI"). Mint welcomed this development as it now brings a greater alignment and presents new opportunities to leverage the Mint UAE's technology platform for launching in North America.
Sale of Payroll Card Disbursement Business Provides Capital for Higher-Value Opportunities
In January 2020, Mint's subsidiaries Mint Middle East LLC and Mint Gateway for Electronic Payments LLC (collectively "Mint UAE") successfully entered into a transaction for the sale of Mint UAE's payroll card disbursement business (the "Sale") to a major international payments company. As we disclosed in our press release on February 4, 2020, Mint UAE received an initial cash payment of approximately C$29.5 million and has the potential to earn an additional performance-based cash payment of up to approximately C$7.1 million based on the success of the migration of the payroll card portfolio. Notably, Mint UAE retained all its intellectual property, its globally certified payment platform, customer relationships and the team to continue to execute on our business plan (other than the payroll card program manager business for which there is a three year non-compete agreement with the buyer).
Mint does not need to raise capital to fund Mint UAE
Prior to the Sale, Mint's primary use of capital was to provide funding to support the Mint UAE operations. With the conclusion of the Sale, Mint UAE is well capitalized to execute on its business plan to focus on higher value opportunities, and Mint does not anticipate having to provide further cash funding to support the Mint UAE operations. Based on public information of similar payroll card transactions, the Sale was conducted at a premium valuation. The successful exit of one of its product lines at a premium valuation validates the execution capability of the management team and demonstrates the significant value of Mint.
Current Financial Technology Capabilities
Mint today is a fintech enterprise with several notable strengths, including:
Seasoned and strong team with a track record of execution and creating value
Cash on hand to execute its business plan to build value
Mobile app enabled card management platform
Cloud-based merchant management services
Acquiring and payment gateway platform
Corporate Direction
Following the Sale and a review of opportunities to capitalize on Mint's technology, Mint intends to shift its strategic focus to launching merchant management services targeted at small business, mobile enabled prepaid card products such as multi-currency and general purpose prepaid cards integrated with a digital banking platform that can be offered both as a white label product offering for other banks and/or financial institutions, and as a service to personal and small business clients in partnership with licensed financial institutions in the UAE.
This digital banking platform, in conjunction with our card management, payment gateway and merchant management platforms, will round out Mint's technology across the full spectrum to service financial institutions, small business clients and personal customers. The initial focus will be on the UAE market, following which we intend to expand within the Gulf Region and into North America. Given the scope of the Mint technology now available and being developed, Mint has the flexibility to develop and focus on the unique needs of each market.
As always, we would like to thank our shareholders for your continued belief and support as we focus on providing excellent services to our customers and building value for all shareholders.
Sincerely,
Vishy Karamadam
CEO - The Mint Corporation
About Mint
The Mint Corporation through its majority-owned subsidiaries (the "Mint Group"), is a globally certified payments company based in Toronto, Canada with its primary business in Dubai, UAE. The Mint Group provides employers, employees and merchants with best-in-class financial services supported through its payment's platform certified by MasterCard and UnionPay. Mint brings modern financial conveniences, at reasonable cost, to financial institutions, merchants and consumers.
Forward looking Statements
This Letter to the Shareholders contains forward-looking statements. Forward-looking information includes the statements relating to the amount of an additional performance-based cash payment pursuant based on the success of the migration of the payroll card portfolio, that Mint does not anticipate having to provide further cash funding to support the Mint UAE operations, Mint's intention to shift its strategic focus to launching merchant management services targeted at small business, mobile enabled prepaid card products such as multi-currency and general purpose prepaid cards integrated with a digital banking platform that can be offered both as a white label product offering for other banks and/or financial institutions, and as a direct service to personal and small business clients in partnership with licensed financial institutions in UAE and Mint's initial focus on the UAE market and intent to expand within the Gulf Region and into North America. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "is expected", "expects", "scheduled", "intends", "contemplates", "anticipates", "believes", "proposes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
The forward-looking statements are based on certain expectations and assumptions made by Mint. Although Mint believes that those expectations and assumptions are reasonable, undue reliance should not be placed on the forward-looking statements because Mint can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those anticipated due to a number of factors and risks, including, but not limited to, the ability of Mint UAE to successfully migrate the payroll card portfolio pursuant to the Sale, the ability of Mint and Mint UAE to execute on its business plan and the required expenditures to execute its business plan, the ability of Mint and Mint UAE to launch digital banking services, payment gateway services and execute agreements with licensed financial institutions and meeting the regulatory requirements in UAE or any other market Mint may choose to enter and the duration and effects of the COVID-19 pandemic on local, national and global economies. The forward-looking statements contained in this Letter to the Shareholders are made as of the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities laws."
Here is latest update from management report delays, not serious. Debt miscue hopefully minor.
"Mr. Vinay Tolia reports
THE FLOWR CORPORATION ANNOUNCES FIRST QUARTER 2020 EARNINGS RELEASE UPDATE
The Flowr Corp. has postponed the filing of its first quarter 2020 interim financial statements and related management's discussion and analysis for the period ended March 31, 2020, which were required to be filed by June 1, 2020, under National Instrument 51-102 (Continuous Disclosure Obligations). The Company expects to report and file first quarter 2020 earnings on or before June 15th, 2020. In addition, the Company announces that, in accordance with applicable corporate and securities laws, and stock exchange rules, it has decided to delay holding an annual general meeting of shareholders until a later date in the second half of 2020.
On March 23rd, 2020, the Canadian Securities Administrators published substantively harmonized temporary exemptions from certain regulatory filing requirements that provide issuers with a 45-day filing extension for filings required on or before June 1, 2020 to allow issuers the time needed to focus on the many other business and financial reporting implications of COVID-19. The Company will rely on these exemptions with respect to the Interim Filings as set out in Part 4 and Part 5 of NI 51-102.
On May 1st, 2020, the Canadian Securities Administrators announced temporary blanket relief for public companies from certain filing and delivery requirements, which are generally tied to the sending of materials for annual general meetings. The Canadian Securities Administrators implemented the relief through local blanket orders that are substantially harmonized across the country, including the exemptive relief contained in Ontario Instrument 51-504 Temporary Exemptions from Certain Requirements to File or Send Securityholder Materials of the Ontario Securities Commission. The Company will rely on this relief to postpone the public filing of its executive compensation disclosure until such time as it is filed and delivered to shareholders as part of the Company's management information circular relating to its 2020 annual meeting of shareholders.
All of the Company's management, directors and other insiders will remain subject to a blackout period under its Timely Disclosure, Confidentiality and Insider Trading Policy, which reflects the principles set out in section 9 of National Policy 11-207: Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.
Since the Company reported 2019 fiscal year end results on April 29th, 2020, the Company announced that it has entered into an Equity Line and Profit Sharing Agreement (the "Partnership") with Terrace Global (TSX-V: TRCE) ("Terrace Global") to fund the development and operations of Holigen. For further details on the Partnership with Terrace Global please see the Company's press release dated May 14th, 2020 and related filing on SEDAR.
On May 27th, 2020, the Company became aware that for the fiscal quarter ending March 31, 2020 it was in breach of a current ratio financial covenant and positive covenant requiring the Company to have a certain percentage of total assets held by loan parties under the Credit Agreement dated November 18, 2019, as amended to the date hereof, with a syndicate of lenders, including ATB Financial (the "Credit Agreement"). The Company, as at today's date, is in compliance with the current ratio testing under the Credit Agreement, but requires a formal waiver from its lenders with respect to the aforementioned breach of covenants. The Company is currently in discussions with its lenders to receive such waivers, and believes it will be able to receive a waiver from such breaches.
About The Flowr Corporation
The Flowr Corporation is a Toronto-headquartered cannabis company with operations in Canada, Europe, and Australia. Its Canadian operating campus, located in Kelowna, BC, includes a purpose-built, GMP-designed indoor cultivation facility; an outdoor and greenhouse cultivation site; and a state-of-the-art R&D facility. From this campus, Flowr produces recreational and medicinal products. Internationally, Flowr intends to service the global medical cannabis market through its subsidiary Holigen, which has a license for cannabis cultivation in Portugal and operates GMP licensed facilities in both Portugal and Australia.
Flowr aims to support improving outcomes through responsible cannabis use and, as an established expert in cannabis cultivation, strives to be the brand of choice for consumers and patients seeking the highest-quality craftsmanship and product consistency across a portfolio of differentiated cannabis products."
I am a bit ambivalent about the announced holdings of Mr.Lord being increased. The plus is a major investor who continues to fund the company during its aggressive acquisitions of gem properties. The possible downside is all decisions of management can conceivably be in the interest of Mr. Lord and not the other investors. Hopefully, I can see his interest in success will mirror other investors' interests as well. The dilution caused by his investments are obviously in strong hands.
"LORD OF SEVEN HILLS HOLDINGS FZE COMPLETES OF INVESTMENT IN FURA GEMS INC.
Lord of Seven Hills Holdings FZE, on May 27, 2020, completed the acquisition of 28,795,592 common shares in the capital of Fura Gems Inc. at a price of 25 cents per common share for aggregate cash consideration of $7,188,898 pursuant to a non-brokered private placement of common shares of the company pursuant to a subscription agreement dated June 26, 2019. Such common shares represented approximately 10.59 per cent of the issued and outstanding common shares immediately following the issuance of such shares.
The private placement was the second tranche of a previously announced non-brokered private placement financing of the issuer pursuant to a subscription agreement between L7H and the issuer dated June 26, 2019, the completion of which was delayed pending final approval of the TSX Venture Exchange.
Prior to the private placement, L7H owned and controlled a total of 106,359,534 common shares, representing approximately 43.72 per cent of the issued and outstanding common shares at such time.
After giving effect to the private placement, L7H holds a total of 135,115,126 common shares, representing approximately 49.67 per cent of the issued and outstanding common shares immediately following such issuance.
L7H acquired the common shares for investment purposes but believes that the industry in which the issuer operates is highly fragmented and considers the consolidation of the sector to be desirable. As such, L7H will continue to monitor this sector and this investment, and may, from time to time, increase its direct or indirect ownership, control or direction of common shares, or consider other alternative transactions involving the issuer to achieve that result."
(TSXV:MED) | (FRA:1XD) announces that further to its news release of April 28, 2020, the Company is continuing to rely on the extension provided by the securities regulators as a result of the COVID-19 pandemic regarding the deadline for filing and delivering its audited financial statements and MD&A for the fiscal year ended December 31, 2019. Accordingly, the Company will file such financials no later than the extended deadline of June 15, 2020.
Medgold also confirms that due to the delay in filing its annual financials, it will also rely on the extension provided regarding the deadline for filing and delivering its interim financial statements and MD&A for the three months ended March 31, 2020. Accordingly, the Company will file the interim financials no later than the extended deadline of July 13, 2020.
The Company confirms that there have been no unannounced material business developments since the Company filed its September 30, 2019 interim financial reports.
Until the aforementioned financials are filed, the Company's management and directors are subject to a trading black-out that reflects the principles in section 9 of National 11-207, Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.
About Medgold Resources Corp.
Medgold is a TSX-V listed, gold exploration company targeting early-stage properties in the Balkan region. Run by an experienced management team with a successful track-record of building value in resource companies, Medgold is focused on growth through fast-paced exploration and resource definition in the prospective and under-explored Balkan region
First question I would like answered is -how much time does it take to upload a patient to the RHT system. 1 hour-2-3? The size of the staff needed for how long to build a significant revenue stream.
Then what is the rejection rate of the possible total patients approached for uploading? [This question I asked last year and was told a very small number.]
So now the company has satisfied its proposed take over due diligence and is increasing its debenture offer to aid in this project. We will have to wait until approval from CSE before the name of the acquisition will be revealed. Should be interesting.
("Kontrol") is pleased to announce that it has signed a definitive share purchase agreement for its previously announced acquisition (May 19th, 2020) (the "Acquisition") of a building solutions company (the "Target") and has increased the size of its previously announced convertible debenture private placement (May 19th, 2020) (the "Offering") from $1.5 Million to $2.0 Million. Kontrol Energy intends to apply to list the convertible debentures issuable pursuant to the Offering on the Canadian Securities Exchange ("CSE"). Listing will be subject to CSE approval and satisfying all of the requirements of the CSE, and the expiry of applicable hold period.
"We look forward to adding this synergistic acquisition to our operating platform and expanding our recurring revenue business," says Paul Ghezzi, CEO Kontrol Energy. "The acquisition Target operates a building energy and equipment monitoring and service platform that helps ensure the effective operation and maintenance of essential heating, cooling and ventilation and utility systems."
The Acquisition, which is scheduled to be completed in the third week of June, is subject to a number of conditions, including the provision of certain confirmatory due diligence information to Kontrol, and the completion of the Offering. For commercial reasons, the identity of the target will remain confidential until the completion of the Acquisition.
About Kontrol Energy
Kontrol Energy Corp. (CSE: KNR) (OTCQB: KNRLF) (FSE: 1K8) is a leader in the energy efficiency sector through IoT, Cloud and SaaS technology. With a disciplined mergers and acquisition strategy, combined with organic growth, Kontrol Energy Corp. provides market-based energy solutions to our customers designed to reduce their overall cost of energy while providing a corresponding reduction in greenhouse gas (GHG) emissions.
So now the company has satisfied its proposed take over due diligence and is increasing its debenture offer to aid in this project. We will have to wait until approval from CSE before the name of the acquisition will be revealed. Should be interesting.
("Kontrol") is pleased to announce that it has signed a definitive share purchase agreement for its previously announced acquisition (May 19th, 2020) (the "Acquisition") of a building solutions company (the "Target") and has increased the size of its previously announced convertible debenture private placement (May 19th, 2020) (the "Offering") from $1.5 Million to $2.0 Million. Kontrol Energy intends to apply to list the convertible debentures issuable pursuant to the Offering on the Canadian Securities Exchange ("CSE"). Listing will be subject to CSE approval and satisfying all of the requirements of the CSE, and the expiry of applicable hold period.
"We look forward to adding this synergistic acquisition to our operating platform and expanding our recurring revenue business," says Paul Ghezzi, CEO Kontrol Energy. "The acquisition Target operates a building energy and equipment monitoring and service platform that helps ensure the effective operation and maintenance of essential heating, cooling and ventilation and utility systems."
The Acquisition, which is scheduled to be completed in the third week of June, is subject to a number of conditions, including the provision of certain confirmatory due diligence information to Kontrol, and the completion of the Offering. For commercial reasons, the identity of the target will remain confidential until the completion of the Acquisition.
About Kontrol Energy
Kontrol Energy Corp. (CSE: KNR) (OTCQB: KNRLF) (FSE: 1K8) is a leader in the energy efficiency sector through IoT, Cloud and SaaS technology. With a disciplined mergers and acquisition strategy, combined with organic growth, Kontrol Energy Corp. provides market-based energy solutions to our customers designed to reduce their overall cost of energy while providing a corresponding reduction in greenhouse gas (GHG) emissions.
Financing closed! A needed addition as financing almost obliterated the lines of credit. Isn't it about time management starts revenue generations from the company holding? Enough dilution of shares by PP.
"FURA CLOSES SECOND AND FINAL TRANCHE OF PRIVATE PLACEMENT
Fura Gems Inc. has closed its second and final tranche of a previously announced non-brokered private placement financing of common shares for gross proceeds of $7,188,898. For more information on the Offering and the first tranche, please see Fura's press releases dated May 15, 2019, June 27, 2019, August 15, 2019 and October 10, 2019, and the Company's management information circular dated July 2, 2019 (the "Circular"), each of which is available under Fura's profile on SEDAR at www.sedar.com.
Pursuant to the Final Tranche, Fura issued 28,755,592 common shares (the "Shares") at a price of C$0.25 per Share. In total, pursuant to the Offering, the Company received total gross proceeds of $33,877,500 and issued 135,510,000 common shares at a price of C$0.25 per common share. Immediately following completion of the Final Tranche, the Company had 272,035,485 common shares issued and outstanding.
The net proceeds of the Final Tranche are expected to be used for: (i) the advancement of Fura's Coscuez emerald project in Colombia, ruby assets in Mozambique and sapphire assets in Australia, (ii) the closing of the Company's ongoing acquisition of interests in two ruby licences/concessions in Mozambique as follows: (A) a 70% interest in ruby mining licence 5030L through the acquisition of 70% of the issued and outstanding shares of Rubies Resources SA, and (B) a 80% interest in ruby mining concession 8921C through the acquisition of 80% of the issued and outstanding shares of Ibra Moz SA (the "Licences"), (iii) the acquisition for cancellation from New Energy Minerals Ltd of a right to earn a 65% interest in mining concession 8955C under a joint venture agreement (together with the Licences, the "New Energy Assets"), and (iv) general corporate purposes.
The Shares issued in connection with the Final Tranche are subject to a statutory four-month hold period, which expires on September 28, 2020, and the closing of the Final Tranche is subject to receipt of final approval of the Exchange. No finder fees were paid in connection with the Offering, including the Final Tranche.
A related party subscribed for all of the Shares under the Final Tranche, as described in the Circular (the "Related Party Participation"). Minority shareholder approval for the Related Party Participation was previously obtained by Fura at its annual and special meeting of shareholders held on August 2, 2019. The Related Party Participation is exempt from the formal valuation requirement of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101") by virtue of s. 5.5(b) of MI 61-101. Please refer to the Circular for more information.
About Fura Gems Inc.
Fura Gems Inc. is a gemstone mining and marketing company which is engaged in the mining, exploration and acquisition of gemstone licences. Fura's headquarters are located in Toronto, Canada and its administrative headquarters are located in the Gold Tower, Dubai. Fura is listed on the TSX Venture Exchange under the ticker symbol "FURA".
Fura is engaged in the exploration of resource properties in Colombia and owns a 76% interest in the Coscuez emerald mine in Boyaca, Colombia. Fura is involved in the exploration and mining of sapphires in Australia through its 100% interests in two mining permits (EPM 25973 and EPM 25978) and three mining licences (ML 70419, ML 70447 and ML 70451), and rubies in Mozambique through its 80% effective interest in four ruby licences (4392L, 3868L, 3869L and 6811L) and its 100% interests in ruby licence 5572L and 7414L and ruby concession 8955C
OK- to those who asked for my thoughts on the Market and RHT
Again with the caveat that I really am not an expert-far from it- as I have had some real disasters in my history.[ Anyone who claims otherwise is a liar]
On the general market- the knives are still falling.
As I said last July, I sold 80% of my bank holdings, which was my largest position. I have been waiting to buy back BUT NOT NOW. Watch the earning reports that start next week. Provisions for losses are going to be scary!
However, RHT is a different story, I believe. I have a large position so I am motivated to be positive. But management has learned their lessons the hard way and are moving forward deliberately to take advantage of a health demand need with their significant unique programs. They are not in the HYPE mode. The normal release of financial quarters will provide shareholders with reliable information. Those traders who demand flashy predictions will be disappointed, but investors should be rewarded with actual growing revenue results.
Thus ends the sermon. Good luck to all.
What we have been waiting for
(“Reliq” or the “Company”), a technology company focused on developing innovative mobile health (mHealth) and telemedicine solutions for Community-Based Healthcare, wishes to inform shareholders that it will be hosting a webinar on May 29, 2020 at 6:00am PDT / 9:00am EDT to review the Company’s quarterly financial statements for Q3 Fiscal Year 2020 (January 1 – March 31, 2020), and provide a corporate update.
Webinar Login Information:
Date: Friday, May 29, 2020
Time: 6:00am PDT / 9:00am EDT
URL: https://bit.ly/2yooZZd
For those who are not able to attend the webinar, a recording will be available on the Company’s website (www.reliqhealth.com) immediately following the session.
About Reliq Health
Reliq Health Technologies is a healthcare technology company that specializes in developing innovative software solutions for the Community Care market. Reliq’s powerful iUGO Care platform supports care coordination and community-based healthcare. iUGO Care allows complex patients to receive high quality care at home and in the community setting, improving health outcomes, enhancing quality of life for patients and families and reducing the cost of care delivery. iUGO Care provides real-time access to remote patient monitoring data, allowing for timely interventions by the care team to prevent costly hospital readmissions and ER visits. Reliq Health Technologies trades on the TSX Venture under the symbol RHT and on the OTCQB as RQHTF.
As expected PGC announces PP to provide funds to further develop their properties. This summer's work will be critical for the success of the company. Fingers and all else crossed.
(“Plato” or the “Corporation”) is pleased to announce that it intends to complete a non-brokered private placement of up to 3,000,000 common shares (a “Share” or “Shares”) at a price of CAN$0.05 per Share, for gross proceeds of approximately $150,000 (the “Offering”). Closing of the Offering is expected to occur on or about June 18, 2020.
The securities issued pursuant to the Offering will be subject to a four month and one day statutory hold period.
The Corporation intends to use the net proceeds from the Offering on exploration to advance the Good Hope Niobium Property, the Pic River PGM Project, and for general working capital purposes.
“We are very excited about our well-located niobium and palladium projects in Marathon, Ontario,” said Anthony J. Cohen, CEO of Plato Gold Corp. “We are completing first phase mineralogical and metallurgical test work on the Good Hope Niobium project, which includes gravity and flotation scoping tests, utilizing an emerging minerals laboratory - Process Mineralogical Consulting Ltd (PMC) of Maple Ridge, B.C. Further work is planned with PMC Ltd to conduct similar investigations on the Pic River PGM Project located in the same vicinity. If we receive favourable test results, this will give our Good Hope niobium project further momentum to develop into an important, very well-located niobium project. Niobium is a critical mineral that will be in great demand for coming infrastructure projects as well as many other strategic uses. We are fortunate to have unparalleled infrastructure with the project alongside the Trans-Canada Highway, the CP railroad, Hydro One transmission lines, the ports of Marathon and Thunder Bay, and the mining workforce and mining culture of Marathon and the Hemlo area,” added Cohen.
Completion of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange and applicable securities regulatory authorities.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
"
WAKE UP MARKET!! KNR management on a roll to develop significant revenue production opportunities.
"("Kontrol" or "Company") is pleased to announce that it has entered into a Memorandum of Understanding (MOU) with a European Original Equipment Manufacturer (OEM).
On May 19th, 2020, following the announcement on May 13th, 2020 for the launch of 2 SmartSite® pilots with the OEM, Kontrol and the OEM (collectively, "the parties") have entered into an MOU. The purpose of the MOU is to provide the parties with an agreement on intellectual property rights, software development and equipment data ownership.
Under the terms of the MOU, the OEM is responsible for selecting pilot sites and providing access to local site equipment and applicable data. The OEM has the option to select 2 additional pilot sites to bring the total number of pilot sites to 4. Kontrol will provide its software and data analytics and control platform for 90 days and also allow for data access for up to one year. Kontrol will retain the rights to its intellectual property and software development. The OEM will retain the rights to any equipment data and equipment analytics supplied by Kontrol.
The parties agree that the initial pilots will form the basis on an ongoing discussion around building a larger platform to be deployed by the OEM as a white label solution operating across the OEM's portfolio. Currently the OEM has its equipment installed in approximately 20,000 building locations. Subject to ongoing discussion and potential future agreements the parties will consider exclusivity for the OEM across the heating, cooling, and ventilation (HVAC) sector.
Under the terms of the MOU the OEM and pilot sites will remain confidential until the pilots are complete.
About SmartSite® enterprise solution
Through the use of Kontrol's patented technology the SmartSite® enterprise solution is enabled through the Cloud and provides real-time data, analytics, alerts as well as smart-learning and predictive maintenance. SmartSite® has been designed to manage, monitor, and control HVAC equipment and related building sites in real-time across tens of thousands of locations.
About Kontrol Energy
Kontrol Energy Corp. (CSE: KNR) (OTCQB: KNRLF) (FSE: 1K8) is a leader in the energy efficiency sector through IoT, Cloud and SaaS technology. With a disciplined mergers and acquisition strategy, combined with organic growth, Kontrol Energy Corp. provides market-based energy solutions to our customers designed to reduce their overall cost of energy while providing a corresponding reduction in greenhouse gas (GHG) emissions."
A very significant move by KNR management to acquire a proven revenue-producing complimentary company for addition to their products.
") ("Kontrol" or "Company") a leader in the energy efficiency sector through IoT, Cloud and SaaS technology is pleased to announce that on May 16th, 2020, it entered into a binding agreement (the "Agreement") to acquire a building energy and equipment monitoring company which operates a recurring revenue platform ("TargetCo").
Highlights
TargetCo operates a building energy and equipment monitoring and service platform that helps ensure the effective operation and maintenance of essential heating, cooling and ventilation and utility systems. TargetCo provides its solutions to approximately 100 buildings, which in aggregate span more than 25 Million square feet of real estate
Based on its July 31, 2019 fiscal year unaudited financial statements, TargetCo generated $3.7 Million of revenue and $843,000 of Net Income before tax
Approximately 40% of TargetCo's historical revenues over the past 3 years has been from recurring contracts
TargetCo has enjoyed historically growing annual revenues in excess of 30% per annum over its past 4 fiscal years
In some cases, Kontrol and TargetCo are currently providing separate services and solutions to the same customer. Together, Kontrol and the TargetCo will focus on efficiently scaling recurring revenues in software, Internet of Things and services across their larger combined customer base and building footprint
Kontrol expects to complete the acquisition of TargetCo by June 20, 2020
"A core strategic objective for Kontrol is accelerating recurring revenues with high gross margins," says Paul Ghezzi, CEO of Kontrol Energy. "We anticipate that this strategic acquisition will deliver the type of operational synergies we are focused on in terms of growing our market share, gaining new portfolio customers and building our recurring revenues."
Purchase Price
The Agreement provides that Kontrol will acquire 100% of the issued and outstanding shares of TargetCo for consideration of $2.7 Million paid as to $1.55 Million in cash, $750,000 in the form of an unsecured vendor take-back loan with a 3.5% annual compounding interest rate and the issuance of 727,272 Kontrol common shares at a deemed price of $0.55 cents per share. TargetCo. is currently debt-free.
Conditions
The acquisition completion is conditional on several conditions including completion of the share purchase agreement, final due diligence, completion of financing and CSE approval.
Private Placement
Kontrol also announces a private placement offering (the "Offering") of up to 1,500 Units, with each Unit comprised of one $1,000 8% unsecured debenture of the Company (each, a "Convertible Debenture" and collectively the "Convertible Debentures"), convertible into common shares of the Company (each, a "Common Share") at the Debenture Conversion Price (as defined below); and one thousand (1,000) warrants (each, a "Warrant"), with each Warrant exercisable at the holders' option to purchase one Common Share at any time prior to 5:00 p.m. (Toronto time) on June 30, 2023 (the "Expiry Date") (subject to acceleration, as outlined below), at a price (subject to adjustment from time to time) of $0.60 cents on or prior to June 30, 2022 and at a price of $0.70 cents after June 30, 2022 until or on June 30, 2023 (as applicable, the "Warrant Exercise Price").
The Convertible Debentures shall bear interest at a rate of 8.0% per annum from and including their date of issue until the earlier of their date of conversion and June 30, 2023 (the "Maturity Date"), payable semi-annually in arrears in cash on December 31 and June 30 of each year. The first interest payment shall be on December 31, 2020 for the period from the date of issue up to and including December 31, 2020.
The Convertible Debentures may be converted in full or in part, at the holders' option into Common Shares, at any time prior to the Maturity Date, at a conversion price (subject to adjustment from time to time) of $0.50 cents on or prior to June 30, 2022 and at a price of $0.60 cents after June 30, 2022 until or on June 30, 2023 (the "Debenture Conversion Price"). Holders converting their Convertible Debentures will receive a cash payment equal to accrued and unpaid interest thereon for the period from and including the date of the latest interest payment date to, and including, the date of conversion. Fractional Common Shares will not be issued on any conversion and in lieu thereof the Company will make a cash payment equal in value to such fractional Common Shares.
At any time after August 31, 2021, the Company may force the conversion of the principal amount of the then outstanding Convertible Debentures at the then applicable Debenture Conversion Price on not less than 30 days' notice if the volume weighted average trading price of the Common Shares on the CSE for any 20 consecutive trading day period is greater than $0.70 cents. Similarly, at any time after August 31, 2021, Kontrol may accelerate expiry date of the then outstanding Warrants on not less than 30 days' notice if the volume weighted average trading price of the Common Shares on the CSE for any 20 consecutive trading day period is greater than $0.85 cents.
The Convertible Debentures will be unsecured obligations of the Company and shall rank pari passu in right of payment of principal and interest with all other Convertible Debentures issued under the private placement and all previously existing and future unsecured indebtedness of the Company
The Convertible Debentures, the Warrants and the underlying Common Shares will be qualified investments under the Income Tax Act (Canada) for RRSPs, RRIFs, RESPs, RDSPs, TFSAs and DPSPs.
The net proceeds received by the Company will be used, in part, to fund the acquisition of TargetCo, including transaction costs and applicable working capital. If the acquisition is not concluded, the net proceeds will be applied to Kontrol's working capital.
The Company may pay a cash commission (the "Commission") to finders equal to 7.0% of the gross proceeds from the sale of the Units attributable to such finders. In addition, the Company may also grant to finders common share purchase warrants (the "Compensation Warrants") equal to the quotient obtained by dividing 7.0% of the gross proceeds attributable to such finders by $0.60 cents. Each Compensation Warrant shall be exercisable to purchase one Common Share of the Company at a price of $0.60 on or prior to June 30, 2022, or at a price of $0.70 after June 30, 2022 until or on June 30, 2023.
The Offering may be completed in multiple tranches, with the initial closing expected to occur on or about June 19th, 2020 (the "Closing Date").
Termination of Previously Announced Acquisition
Kontrol also announces that it is terminating its previously announced proposed acquisition of an established and leading provider of electrical retrofit services (see Kontrol's news release dated March 14th, 2019), due to certain conditions in Kontrol's favour not having been fulfilled.
Another addition to the advisor board
ImagineAR (IP:CSE) (IPNFF:OTCQB) an Augmented Reality Company that enables businesses to create their own mobile phone AR campaigns is pleased to announce that Troy Miller has joined the Company as an Advisor to the CEO for the purposes of taking ImagineAR solutions to both professional and college sports teams for use in their venues to enhance fan engagement and generate new revenue streams for them Mr. Miller is the Founder of Division ONE Sports, a company focused on Pro and college sports marketing and consulting services for nearly two decades. With over $500 million in sports sponsorship/media deals during his career, ImagineAR believes Mr. Miller will accelerate the Company’s early Augmented Reality success within professional and amateur sports.
TROY MILLER PROFESSIONAL BACKGROUND
Troy is a 30-year sports industry veteran. He is the Founder and Principal of Division ONE Sports, a company he started in 2003 that specializes in providing companies with turnkey sports marketing and consulting services in areas such as Stadium/Arena TV-Visible Signage, Branding, Sponsorship/Media Sales, IP Rights, Promotional Rights, On-site Activation, Database Marketing, Social Media, and VIP Hospitality. Troy has represented several blue-chip clients over the years, leading to well over $500 million in sports sponsorship/media deals through his extensive relationships with over 100 Major Division 1 NCAA Schools and Conferences, NFL, NBA, NHL, MLB, and MLS Teams, as well as, Major TV networks.
Mr. Miller stated, “With the advancement in technology across several platforms, ImagineAR brings a leading-edge Augmented Reality platform to the pro sports and collegiate athletic teams and venues to give them yet another means to reach and enhance fan engagement, as well as, generate new revenue streams to add to their bottom line.”
“Mr. Miller brings a tremendous track record of success in Professional Sports and Major NCAA Division 1 Athletics,” said Alen Paul Silverrstieen, CEO and President of Imagine AR. “With today’s paradigm shift in sports fan engagement due to Covid-19, Augmented Reality is a perfect activation technology for both in-stadium and live streaming.”
Another addition to the advisor board
ImagineAR (IP:CSE) (IPNFF:OTCQB) an Augmented Reality Company that enables businesses to create their own mobile phone AR campaigns is pleased to announce that Troy Miller has joined the Company as an Advisor to the CEO for the purposes of taking ImagineAR solutions to both professional and college sports teams for use in their venues to enhance fan engagement and generate new revenue streams for them Mr. Miller is the Founder of Division ONE Sports, a company focused on Pro and college sports marketing and consulting services for nearly two decades. With over $500 million in sports sponsorship/media deals during his career, ImagineAR believes Mr. Miller will accelerate the Company’s early Augmented Reality success within professional and amateur sports.
TROY MILLER PROFESSIONAL BACKGROUND
Troy is a 30-year sports industry veteran. He is the Founder and Principal of Division ONE Sports, a company he started in 2003 that specializes in providing companies with turnkey sports marketing and consulting services in areas such as Stadium/Arena TV-Visible Signage, Branding, Sponsorship/Media Sales, IP Rights, Promotional Rights, On-site Activation, Database Marketing, Social Media, and VIP Hospitality. Troy has represented several blue-chip clients over the years, leading to well over $500 million in sports sponsorship/media deals through his extensive relationships with over 100 Major Division 1 NCAA Schools and Conferences, NFL, NBA, NHL, MLB, and MLS Teams, as well as, Major TV networks.
Mr. Miller stated, “With the advancement in technology across several platforms, ImagineAR brings a leading-edge Augmented Reality platform to the pro sports and collegiate athletic teams and venues to give them yet another means to reach and enhance fan engagement, as well as, generate new revenue streams to add to their bottom line.”
“Mr. Miller brings a tremendous track record of success in Professional Sports and Major NCAA Division 1 Athletics,” said Alen Paul Silverrstieen, CEO and President of Imagine AR. “With today’s paradigm shift in sports fan engagement due to Covid-19, Augmented Reality is a perfect activation technology for both in-stadium and live streaming.”
This press release is available on the Company’s AGORACOM Discussion Forum, a moderated social media platform that enables civilized discussion and Q&A between Management and Shareholders.
"
MIT Trading at the open today!
Start of distribution in Portugal by FLWR
"TERRACE GLOBAL ANNOUNCES AGREEMENT WITH THE FLOWR CORPORATION TO JOINTLY DEVELOP OUTDOOR MEDICAL CANNABIS PROJECT IN PORTUGAL
Terrace Global Inc. has entered into an equity line and profit-sharing agreement with The Flowr Corp. for the purpose of jointly developing an outdoor medical cannabis project in Portugal. Under the terms of the Agreement, Terrace Global will fund certain operations and certain capital expenditures relating to the Project in exchange for the issuance of: (1) common shares of Flowr at the volume weighted average trading price of the shares on the day prior to such subscription less the maximum applicable discount available under the TSX Venture Exchange ("TSXV") subject to a minimum price of $0.52 per share; and (2) warrants at an exercise price equal to the greater of $0.76 and the minimum exercise price permitted under the TSXV rules. In addition, the parties have agreed to divide the net proceeds from the Project on a 75% basis for Flowr and 25% basis for the Company, with an adjustment to 20% for the Company in certain circumstances. As part of the Agreement, a Technical Committee comprised of two representatives from the Company and two representatives from Flowr will oversee the Project. The Company also has a renewal option to cultivate at the Aljustrel site during the 2021 season at its sole discretion in exchange for a 50% split of net proceeds from the sale of any medical cannabis derived from that season's operations.
In March 2020, Flowr received GMP (Good Manufacturing Certification) certification in accordance with European Union standards, for its manufacturing facility in Sintra, Portugal. The GMP certification was issued by INFARMED, I.P. ("INFARMED"), the Portuguese National Authority of Medicines and Health Products. This GMP certification allows the facility to manufacture and export GMP-certified finished medical cannabis products, specifically dried flower (Part I and II), from Portugal to international markets with legal medical cannabis regulations. The Sintra facility is located just outside of Lisbon.
"In light of the recent market upheaval, Terrace Global has been approached by several parties looking to access our operational expertise in outdoor cultivation and our ability to fund large-scale projects. The partnership with Flowr positions us well to focus on low-cost outdoor cultivation within the European Union at a time when there are still limited competitors," commented Francisco Ortiz von Bismarck, Chief Executive Officer of the Company. "We are very excited to have Flowr as our outdoor medical cannabis cultivation partner. Flowr is comprised of a team of cannabis experts with extensive knowledge in the cultivation, manufacturing and processing of medical cannabis. In 2020, Flowr obtained GMP (Part I and II) from INFARMED at its production facility in Sintra, Portugal. We expect to be able to leverage Flowr's operations and expertise, which will result in a very significant win for the Company and its partners."
The transactions contemplated by the Agreement are subject to the approval of the TSXV.
The shares and warrants acquired by Terrace Global will be held only for investment purposes. Terrace Global may from time to time in the future increase or decrease its ownership, control or direction over securities of Flowr, through market transactions, private agreements or otherwise.
About Terrace Global
Terrace Global is a multi-country operator (MCO) led by experienced cannabis entrepreneurs focused on the development and acquisition of international cannabis assets. Terrace Global's focus is on federally legal jurisdictions with existing domestic demand, low cost inputs and approved for exportation. Terrace Global's existing asset platform consists of: (1) a 33.75% indirect equity interest in one of the currently two recreational cannabis operations in Uruguay; (2) 100% of Oransur, S.A., a Uruguayan company producing high CBD hemp in Uruguay; (3) 100% of Terra Nova Producao e Comercializacao de Produtos Natuis e Farmaceuticos, Lda, a Portuguese company with a pre-license issued by INFARMED for the cultivation, importation, and exportation of medical cannabis in Portugal; and (4) 100% of Pharmabinoide S.L., a Spanish company producing and commercializing hemp in Spain. MariMed Inc. (OTCQX: MRMD), a multi-state cannabis operator in the U.S., dedicated to improving the health and wellness of people through the use of cannabinoids and cannabis products, owns approximately 6% of Terrace Global.
About Flowr
The Flowr Corporation is a Toronto-headquartered cannabis company with operations in Canada, Europe, and Australia. Its Canadian operating campus, located in Kelowna, BC, includes a purpose-built, GMP-designed indoor cultivation facility; an outdoor and greenhouse cultivation site; and a state-of-the-art R&D facility. From this campus, Flowr produces recreational and medicinal products. Internationally, Flowr intends to service the global medical cannabis market through its subsidiary Holigen, which has a license for cannabis cultivation in Portugal and operates GMP licensed facilities in both Portugal and Australia.
Further moves by management to upgrade oversight of areas as the company expands
") (“Reliq” or the “Company”), a technology company focused on developing innovative mobile health (mHealth) and telemedicine solutions for Community-Based Healthcare, is pleased to announce that it has appointed Dr. Dionne Layne Hinds as the Medical Director for its Call Center in Port St Lucie, FL and added her to the Company’s Medical Advisory Board.
“We are very pleased to welcome Dr. Hinds to the Reliq team,” said Dr. Lisa Crossley, CEO of Reliq Health Technologies, Inc. “Dr. Hinds is a Family Practice Specialist with over 15 years of experience providing clinical care both in private practice and as the Medical Director for a number of Skilled Nursing Facilities in Florida. Her expertise and local network will be invaluable to the Company as we continue to grow our business in Florida and other States. Call Center activity is rapidly ramping up as each State relaxes the restrictions originally imposed to limit the spread of the novel coronavirus. Dr. Hinds’ leadership and guidance will allow us to continue to expand our Call Center capabilities to support the increasing number of patients on our iUGO Care platform.”
“We consider ourselves very fortunate to be able to continue to grow our business in these unusual times,” added Dr. Crossley. “We are proud to be able to provide solutions that ensure continued access to healthcare and protect vulnerable populations during the global pandemic. As it becomes increasingly clear that we are all going to have to learn to live with the novel coronavirus for longer than anyone had hoped, demand for Reliq’s iUGO Care Remote Patient Monitoring (RPM), Chronic Care Management (CCM), Principal Care Management (PCM), Behavioral Health Integration (BHI) and Telemedicine solutions has increased significantly and our pipeline continues to expand every day. Virtual Care models for healthcare delivery will become even more vital as healthcare providers prepare for a potential second wave of coronavirus infections in the fall and winter. We will be dedicating additional resources to onboarding patients to the iUGO Care platform in the coming months to help our clients achieve their goals of keeping patients healthy and at home and reducing their potential exposure to the virus. Like many of our peers we are suspending the issuing of any formal forward guidance given the constantly changing global situation and the rapidly evolving demand for Reliq’s suite of services, but we are pleased to be seeing steady growth in our business and look forward to continuing to be a key part of the solution to the unique challenges created by the global pandemic.”
Reliq Health Technologies is a healthcare technology company that specializes in developing innovative software solutions for the Community Care market. Reliq’s powerful iUGO Care platform supports care coordination and community-based healthcare. iUGO Care allows complex patients to receive high quality care at home, improving health outcomes, enhancing quality of life for patients and families and reducing the cost of care delivery. iUGO Care provides real-time access to remote patient monitoring data, allowing for timely interventions by the care team to prevent costly hospital readmissions and ER visits. Reliq Health Technologies trades on the TSX Venture under the symbol RHT and on the OTCQB as RQHTF."
Finally we will be returning to listing for trading
"("Mint" or the "Company") today announced that it has received final approval from the TSX Venture Exchange (the "TSXV") of the sale by the Company's subsidiaries, Mint Middle East LLC and Mint Gateway for Electronic Payments LLC (collectively "Mint UAE") of Mint UAE's direct payroll disbursement service business in the United Arab Emirates (the "Transaction"). TSXV conditional approval of the Transaction was announced by Mint in a press release issued on April 24, 2020.
TSXV final approval of the Transaction was subject to a number of conditions which have been satisfied by the Company, including receipt by the Company of the written consent of the holders of more than 50% of the issued and outstanding common shares of the Company. The TSXV has informed the Company that all conditions have now been satisfied to allow trading to resume of the Company's common shares, and accordingly, the shares are anticipated to resume trading on May 19, 2020.
ABOUT MINT
The Mint Corporation through its majority-owned subsidiaries (the "Mint Group"), is a globally certified payments company headquartered in Toronto, Canada with its primary business in Dubai, UAE. The Mint Group provides employers, employees and merchants with best-in-class financial services supported via payroll cards and the feature rich and linked Mint mobile application. Through its mobile enabled payments platform certified globally by Mastercard and UnionPay, Mint brings modern financial conveniences, at reasonable cost, to employers, merchants and consumers."
HoHum another dividend announced
" ("Newport" or "the Company") is pleased to announce its second quarterly cash dividend ("the Dividend") of $0.01 per share to its shareholders of record at the close of business on May 28th, 2020. The Dividend payment date is June 10th, 2020.
Newport Exploration Ltd. (CNW Group/Newport Exploration Ltd.)
The Dividend, fully approved by the Board of Directors, is not subject to any changes and has been designated as an "eligible dividend" for Canadian income tax purposes.
Management believes that based on Beach Energy Ltd.'s ("Beach") recent exploration success, development of the licenses in the Cooper Basin over which the Company has its 2.5% Gross Overriding Royalty ("GOR"), and their reported production costs as previously reported by the Company (News Releases dated March 30th and April 22nd, 2020), shareholders should continue to be rewarded with dividend continuity.
Amid signs that the oil market is beginning to rebound from the unprecedented economic impact of Covid-19, many companies are struggling with heavy net debt loads and have stated that they will not be paying dividends this year, or will be paying them at a much lower level. As reported in a Company news Release dated March 10th, 2020, the Company's strong balance sheet ensures that Newport has the ability to maintain regular quarterly dividend payments with a reduced likelihood that the quarterly dividend payout would be cut during any sector downturn.
Despite the recent unprecedented plunge in oil prices, Newport shareholders have escaped the market downturn relatively unscathed. Although the Company is not immune from the effects of the Covid-19 pandemic and the global oil price collapse, management is confident that the Company will be able to maintain dividend payments in 2020 without taking on any debt or undertaking any equity financings. Investors are cautioned that historical results are no guarantee of future performance.
The move from an annual dividend to a quarterly dividend in 2020 has proved to be the right step as it has provided the Company with the flexibility to maintain its financial position during a very difficult period, while at the same time paying the full quarterly dividend as proposed, despite the exceptional level of uncertainty that prevails.
Newport's dividend payout ratio, being the cash dividends per share of common stock divided by the earnings per share of common stock, compares favorably with that of other yield stocks. Furthermore, the Company has paid out more than 85% of after tax royalty receipts in dividends.
Guidance
As stated previously by the Company (News Releases dated March 30th and April 22nd, 2020), it is material information for shareholders of Newport that Beach report that revenues from their gas sales cover their group operating and stay-in-business costs and that their reported break-even oil price is less than US$0/bbl. As also reported in the same Company News Release, Beach report that their crude sells at a material premium to Brent.
Newport has no control over operating decisions by Beach and Beach is not subject to compliance with NI 51-102 Continuous Disclosure Obligations in Canada. Accordingly, this prevents the Company from commenting on Beach's current financial status and/or operating plans going forward. As always, the Company continues to strongly recommend that shareholders and potential investors access material information relevant to the Company as released independently by Beach. This recommendation is particularly relevant with regard to the current uncertainty in the global oil markets.
The Company receives its gross overriding royalty from Beach, which is not a reporting issuer in Canada, therefore Newport is not able to confirm if the disclosure satisfies the requirements of NI 51-101 - Standards of Disclosure for Oil and Gas Activities, or other requirements of Canadian securities legislation.
About Newport
Newport holds a 2.5% GOR on several oil and gas licences and permits in the Cooper Basin in Australia. These permits are currently being operated and explored by Beach and Santos Ltd. ("Santos"), both major Australian oil and gas producers.
The Company continues to strongly encourage shareholders and potential investors to access information released independently by Beach and Santos in order to keep current during exploration, development and potential production of all the licences subject to the Company's GOR.
The Company currently has 104,429,874 common shares issued and outstanding and $5.9 million in the Treasury, comprised of cash, cash equivalents and investments, and no debt."
ANOTHER POTENTIAL REVENUE SOURCE TRIAL OBTAINED
BY MANAGEMENT. S HOWS THE POTENTIAL OF KNR PRODUCTS
("Kontrol" or "Company") is pleased to announce that it will launch multiple enterprise energy management software pilots with one of Europe's leading Original Equipment Manufacturers (OEM) in the heating, cooling and ventilation (HVAC) market.
On April 27th, 2020 Kontrol announced the launch of its white label energy management and analytics platform. Following that announcement Kontrol has initiated two pilots with one of Europe's largest manufacturers of HVAC equipment. The pilot sites have been designated for Bolivia and Germany. Under the terms of the pilots Kontrol will provide its SmartSite® enterprise software solution to integrate building automation, HVAC equipment, utilities, and thousands of individual building sensors. The pilot customer will provide building access and data sources which will be monitored and managed in real-time through the SmartSite enterprise software solution. The pilots will begin in May 2020 and operate for 90 days.
"We are very pleased to be working with our new pilot customer which operates globally to supply innovative heating, cooling and ventilation equipment for buildings," says Paul Ghezzi, CEO of Kontrol Energy. "The pilots represent our first international opportunity for our SmartSite® enterprise platform."
The pilot customer has more than 20,000 sites globally where their commercial HVAC systems have been deployed in large buildings including, but not limited to, hospitals universities, hotels, schools, office towers, apartment, and government buildings. The pilot customer seeks an enterprise software solution to create a global operating center to manage, monitor and control HVAC equipment and related building sites in real-time and under one unified platform.
For industry competitive purposes the pilot customer will not be disclosed until the pilots have been completed.
About SmartSite® enterprise solution
Using Kontrol's patented technology the SmartSite® enterprise solution is enabled through the Cloud and provides real-time data, analytics, alerts as well as smart-learning and predictive maintenance. SmartSite® has been designed to manage, monitor, and control HVAC equipment and related building sites in real-time across tens of thousands of locations.
Under its white label offering Kontrol's business model will be to provide initial software development and integration of all building and energy data for one-time fee of approximately $20,000 and provide real-time monitoring in the amount of approximately $1,000 to $2,000 per month on a software as a service (SaaS) model.
Hopefully there will only be PP at much higher prices.
"PLAN" or the "Company"), a developer of natural pozzolan properties in BC, Canada, announces that, further to its news release dated April 23, 2020, the Company has closed its non-brokered private placement comprising of 6,784,000 units at $0.03 per unit, for total proceeds of $203,520.
Each unit comprises one common share and one-half of a share purchase warrant, with each whole entitling the holder to purchase an additional common share of the Company for $0.05 a share on or before May 12th, 2021. The Company may accelerate the expiry date of the 3,392,000 Warrants by giving written notice to the holders thereof, and in such event the Warrants will expire on the 30th day after the date of such notice. Securities will bear legends restricting resale until September 13th, 2020.
The Company will use the proceeds from private placement for general working capital, equipment procurement and to repay unsecured indebtedness owing by the Company to David Richardson, a controlling shareholder of the Company. See the Company's news release dated April 23, 2020 for further details.
Insiders purchased an aggregate of 4,134,000 units totaling $124,020. There were no finder's fees paid with respect to the private placement.
Progressive Planet is a Canadian based mineral exploration company with its flagship Z1 Zeolite Quarry in British Columbia and is earning an 100% interest on the Z2 Natural Pozzolan Property near Falkland, BC and earning a 100% interest in Heffley Creek Natural Pozzolan Property. All three properties are within a one-hour drive of Kamloops, BC.
"PLAN" or the "Company"), a developer of natural pozzolan properties in BC, Canada, announces that, further to its news release dated April 23, 2020, the Company has closed its non-brokered private placement comprising of 6,784,000 units at $0.03 per unit, for total proceeds of $203,520.
Each unit comprises one common share and one-half of a share purchase warrant, with each whole entitling the holder to purchase an additional common share of the Company for $0.05 a share on or before May 12th, 2021. The Company may accelerate the expiry date of the 3,392,000 Warrants by giving written notice to the holders thereof, and in such event the Warrants will expire on the 30th day after the date of such notice. Securities will bear legends restricting resale until September 13th, 2020.
The Company will use the proceeds from private placement for general working capital, equipment procurement and to repay unsecured indebtedness owing by the Company to David Richardson, a controlling shareholder of the Company. See the Company's news release dated April 23, 2020 for further details.
Insiders purchased an aggregate of 4,134,000 units totaling $124,020. There were no finder's fees paid with respect to the private placement.
Progressive Planet is a Canadian based mineral exploration company with its flagship Z1 Zeolite Quarry in British Columbia and is earning an 100% interest on the Z2 Natural Pozzolan Property near Falkland, BC and earning a 100% interest in Heffley Creek Natural Pozzolan Property. All three properties are within a one-hour drive of Kamloops, BC.
Very active positive posting on STOCKHOUSE started late last week. Hope it continues but also hope it isn't a pump and dump sting!
Absolutely nothing!! I must have been sleep- writing as IP is another sad story. Sorry
And the good news continues. The impatient shareholders must wait for onboarding numbers, probably in the quarterly report which will come in late May or early June.
"(“Reliq” or the “Company”), a technology company focused on developing innovative mobile health (mHealth) and telemedicine solutions for Community-Based Healthcare, is pleased to announce that it has signed contracts with 8 new clients in Texas to use its proprietary iUGO Care Remote Patient Monitoring (RPM), Chronic Care Management (CCM), Principal Care Management (PCM) and Telemedicine platform.
“We are very pleased to have added eight new clients to our customer base in Texas,” said Dr. Lisa Crossley, CEO of Reliq Health Technologies, Inc. “We will begin onboarding patients for these clients in May. The new clients include physician practices, home health agencies and an oncology specialist practice. The oncology practice will be using Reliq’s new iUGO Care PCM (Principle Care Management) module. New billing codes for PCM were introduced by the Centers for Medicare and Medicaid Services (CMS) in 2020. These codes allow specialists to provide care management services to patients with one high risk disease or complex chronic condition, unlike Chronic Care Management (CCM) codes which are designed for primary care physicians to provide care management services for patients with at least two chronic conditions. The new PCM billing codes can be billed concurrently with Remote Patient Monitoring (RPM), providing substantial new virtual care-based revenue streams to specialists. We are excited to be able to expand our patient base to include this newly covered patient population.”
Reliq Health Technologies is a healthcare technology company that specializes in developing innovative software solutions for the Community Care market. Reliq’s powerful iUGO Care platform supports care coordination and community-based healthcare. iUGO Care allows complex patients to receive high quality care at home, improving health outcomes, enhancing quality of life for patients and families and reducing the cost of care delivery. iUGO Care provides real-time access to remote patient monitoring data, allowing for timely interventions by the care team to prevent costly hospital readmissions and ER visits. Reliq Health Technologies trades on the TSX Venture under the symbol RHT and on the OTCQB as RQHTF."
Yearend financial report shows a significant revenue stream established.We must await the resolution of the COVID-19 to know the effect on KNR [as ALL companies must do.}
"2019 HIGHLIGHTS • Revenue for the year ended December 31, 2019 was $14.6 million, up 35% over the prior year • Strong organic growth • Adjusted EBITDA for the for year ended December 31, 2019 was $525,121 an improvement of $692,693 over the 2018 negative Adjusted EBITDA • Cash flow used in operating activities of $214,003 for the year ended December 31, 2019 which is an improvement of $798,507 over the prior year • Kontrol Energy was selected to the Startup 50 ranking for the second year in a row • Kontrol Energy received certification of its new SmartSuite® energy technology for the commercial, multi-residential, hospitality and industrial building market • SmartSuite® pilots commenced with three leading commercial real estate management companies • Kontrol Energy completed a pilot of its process analyzer equipment and secured an initial order with a global leading plant-based meat substitute company • Kontrol Energy received its first Smart Factory order from Toyota Tsusho Canada for deployment of IoT enabled energy monitoring and plant upgrade program • Convertible debenture offering raised gross proceeds in excess of $1 million • The Company refinanced a secured debt facility which resulted in additional Company funding • Completed purchase of patents, intellectual property, and computer equipment from DIMAX Controls Canada Inc. and rebranded as SmartSite®
Gross profit and expenses Gross profit for the three months ended December 31, 2019 was $1,595,670 a decrease of $364,433 over the comparative quarter in the prior year. For the year ended December 31, 2019, gross profit increased by $640,860 to $7,060,679 compared to $6,419,819 in 2018. For the 2019 fiscal year most product and services sales and gross profit by dollar amount were up over the prior year, while Q4 2019 sales and gross profit were down in our emissions business compared to Q4 2018.
Revenue for the fourth quarter of 2019 decreased 10% over the comparable quarter in the prior year. Fourth quarter performance reflects contributions from energy retrofit activities, continuous emission installations, and SaaS. Fourth quarter 2019 sales and gross profit were down due to the timing of various projects and their installations in the emissions business compared to the fourth quarter in the prior year and is the primary reason for the variance.”
Management announces additional claims obtained in their Platinum project.
"PLATO GOLD ADDS CLAIM UNITS TO OPTION AGREEMENT WITH RUDY WAHL FOR THE PIC RIVER PGM (PLATINUM GROUP METALS) PROJECT
Plato Gold Corp. has amended the Pic River PGM (platinum group metal) project option agreement with an addition of six new claims to the total property. The amended property now totals 111 Single Cell Mining Claims and covers an area of approximately 2,247 hectares including 19 claims on the eastern boundary next to Generation PGM.
As announced on January 28, 2020, Plato entered into an option agreement to acquire a 100% interest in the Pic River PGM Project in Foxtrap Lake and Grain Township, Thunder Bay Mining District. The original option agreement was subjected to approval by the TSX Venture Exchange and such approval was received.
"I am very pleased about the acquisition of these claims to our Pic River PGM Project, which is contiguous to the western boundary of Generation Mining's platinum/palladium project," said Anthony J. Cohen, President & CEO of Plato Gold Corp. "There are interesting ground magnetic survey results on these newest additional claims which are on strike with the Sally deposit on Generation Mining's land package," added Cohen.
About the Pic River PGM Project
As disclosed in the press release of January 28, 2020, mapping by Walker et al (1993) indicates the favourable layered gabbro series (the basal portion of the Coldwell Complex) of rocks that host the PGE-Cu-Ni mineralized zone of Generation Mining Inc.'s Sally, Willie, Skipper, Four Dams zones and the Marathon Deposit trend onto the Pic River PGM-Cu-Ni property. Previous ground magnetic surveys indicate magnetic highs that may correspond to the higher magnetic zones within the gabbroic rocks.
According to Generation Mining's webpage, the Marathon deposit is "one of" the largest undeveloped platinum group metal mineral resources in North America hosting several PGM-Copper deposits, including the 7.1 million ounce palladium-equivalent Marathon Deposit. On January 6, 2020, Generation Mining Limited released a preliminary economic assessment (PEA) giving Marathon an after-tax net present value (NPV) of $871 million (Press Release Generation Mining January 6, 2020).
Mineralization hosted on the Marathon property is not necessarily indicative or representative of mineralization hosted on the Company's property.
The Generation Mining Inc.'s Sally Area 41 zone is indicated to be on strike to the Pic River PGM-Cu-Ni property. This PGM-Cu-Ni drill defined mineralized zone is located on the northern margin of the East Gabbro and is comprised of four mineralized zones.
Exploration by Plato will focus on defining the gabbroic units on the Pic River PGM-Cu-Ni property and determining the PGM-Cu-Ni mineralization.
Ground magnetic survey over the target area outlined potential PGM-Cu-Ni targets.
Target sites
29: Isolated oblong low anomaly of about 600 to 800 nT presenting a N-S general trend and a dimension of 150 x 250 m.
34-35-36: Anomaly 34, to the north, consists of an isolated circular zone of magnetic high of about 750 to 1 000 nT with a diameter of about 250 m. Anomaly 35, to the south-west, is defined by a cluster of more or less isolated peaks of 100 to 300 nT forming a pseudo-circular pattern of about 350 m in diameter, traversed by a NE-SW dike.
Anomaly 36, to the east, consists of an isolated oblong zone of weak magnetic high of about 100 nT with a NW-SE orientation, located inside a much larger zone (400 x 600 m) of low magnetic crossed by a NW-SE dike.
38 Anomaly: Large zone of magnetic high of about 1 000 to 2 000 nT presenting an oval shape with a N-S elongation. Located on the north flank of a large zone of very strong magnetic intensity.
Mr. Garry Clark, P. Geo., of Clark Exploration Consulting, is the "Qualified Person" as defined in NI 43-101, who has reviewed and approved the technical content in this press release. Garry also is a Director of various junior listed companies including Canadian Palladium.
An additional revenue-producing platform introduced by management.
" ("Kontrol" or "Company") a leader in the energy efficiency sector through IoT, Cloud and SaaS technology announces that it has developed a new enterprise solution for its energy management software platform. Kontrol will provide Original Equipment Manufacturers (OEMs) a white label solution which can be packaged with OEM energy efficiency products at the point of sale.
"Based on ongoing discussions with our customers and a growing market opportunity, we are launching a solution to provide OEMs in the energy efficiency and energy retrofit market with a white label solution powered by Kontrol's SmartSite® platform," says Paul Ghezzi, CEO at Kontrol. "OEM partners will be able to seamlessly integrate their equipment products into this platform and drive new sales in their customer bas
By integrating with Kontrol, OEM partners gain access to Kontrol's open protocol energy software architecture, thereby adding new software sales to their existing equipment sales. For Kontrol the new market opportunity expands the Company's potential to deliver integrated building energy software solutions globally.
"With the increasing growth of Internet of Things (IOT) enabled energy efficiency equipment, there is a market need to provide one seamless platform for all connected devices to be controlled and monitored in real-time," continues Ghezzi. "Kontrol's platform allows multiple products with different protocols and disparate sources of communication to be integrated seamlessly to drive the end customer solution."
Kontrol SmartSite® is an open protocol building energy software technology designed to control and optimize the management of complex heating, ventilation and cooling systems for large multi-residential, commercial, and mission critical buildings.
About Kontrol Energy
Kontrol Energy Corp. (CSE:KNR)(OTCQB:KNRLF)(FSE:1K8) is a leader in the energy efficiency sector through IoT, Cloud and SaaS technology. With a disciplined mergers and acquisition strategy, combined with organic growth, Kontrol Energy Corp. provides market-based energy solutions to our customers designed to reduce their overall cost of energy while providing a corresponding reduction in greenhouse gas (GHG) emissions."
Management is ACTIVE !
Its interesting but guess what confuses me!!
" (“Fura” or the “Company”) (TSXV: FURA, OTC: FUGMF and FRA: BJ43), a gemstone mining and marketing company with emerald, ruby and sapphire assets in Colombia, Mozambique and Australia, respectively, is pleased to announce that it has received formal approval from the Ministry of Mineral Resources and Energy of Mozambique (“MIREM”) and has completed the previously announced acquisition of SLR Mining, Limitada, a Mozambican mining company holding 100% of each of ruby mining concession 8955C and ruby exploration licence 7414L. In accordance with the share purchase agreement dated February 4, 2020 entered into by a wholly owned subsidiary of the Company and GemRock Company Ltd. (“GemRock”), as amended, (the “SharePurchaseAgreement”) Fura paid GemRock US$2.1 million upon completion of the acquisition. Please see the Company’s press release dated February 10, 2020 for more information about the transactions contemplated in the Share Purchase Agreement (the “Acquisition”).
The Acquisition is an arm’s length transaction for the purposes of the policies of the TSX Venture Exchange (“TSXV”) and the Company understands that the Acquisition qualifies as an “Exempt Transaction” under TSXV Policy 5.3. Fura is not paying any finder’s fees in connection with the Acquisition. The only material condition remaining for completion of the Acquisition is obtaining formal approval from MIREME for the acquisition of the 20% free carried and non-dilutive participating interest in Ibra Moz SA, a Mozambican mining company holding ruby mining concession 8921C.
Fura is currently in the process of completing the purchase and sale of interests in three additional ruby prospecting licences/concessions in Mozambique as follows: (i) a 70% interest in ruby mining licence 5030L through the acquisition of 70% of the issued and outstanding shares of Rubies Resources SA, (ii) a 80% interest in ruby mining concession 8921C through the acquisition of 80% of the issued and outstanding shares of Ibra Moz SA; and (iii) a right to earn a 65% interest in mining concession 8955C under a joint venture agreement (collectively, the “NewEnergyAssets”). Please see the Company’s press releases dated November 29, 2018 and February 11, 2020 for further details regarding the terms of this proposed acquisition. The transaction remains subject to the approval of the TSX Venture Exchange."
Thank goodness management has a line of credit established and available in this terrible credit atmosphere. Hope they can start a revenue stream to repay the debt before they run out of remaining available loan.
"(“Fura” or the “Company”) (TSXV: FURA, OTC: FUGMF and FRA: BJ43) announces today that it has drawn down an additional US$3.5 million from its loan facility previously announced on March 10, 2020 (the “SecondAdvance”). An additional US$4.1 million remains available for drawdown by the Company at a later date, subject to the terms of the grid promissory note (the “Note”) issued to the lender (the “Lender”) in the maximum aggregate principal amount of US$28.6 million. The funds advanced under the Note are initially unsecured, will bear interest at a rate of ten percent per annum and have a maturity date of August 31, 2021. The principal amount of the loan as well as accrued interest will be payable on the maturity date. Please see the Company’s press release dated March 10, 2020 for more information about the Note and the terms thereof.
The proceeds of the Second Advance are expected to be used by Fura for (i) the advancement of its Coscuez emerald project in Colombia, its ruby projects in Mozambique and its sapphire projects in Australia, (ii) general corporate purposes, including paying down debts and (iii) payment towards acquiring SLR Mining, Limitada, a Mozambican mining company holding 100% of each of ruby mining concession 8955C and ruby exploration licence 7414L."
Management delays AGM but will release Year-end and First Quarter reports on schedule.
"Kontrol Energy to Maintain Annual and Quarterly Reporting Due Dates and Postpone Annual General Meeting of Shareholders
TORONTO, ON / ACCESSWIRE / April 23, 2020 / Kontrol Energy Corp. (CSE:KNR)(OTCQB:KNRLF)(FSE:1K8) ("Kontrol" or "Company") a leader in the energy efficiency sector through IoT, Cloud and SaaS technology announces that, given the extraordinary circumstances regarding the ongoing COVID-19 health crisis, and the resulting restrictions on public gatherings, it is postponing its Annual General Meeting of Shareholders to August, 2020. The Company will set and communicate details for a new AGM meeting date and location as soon as the orderly planning and preparation of the meeting can be conducted.
"The health and safety of our employees, shareholders, and the community at large, remains a top priority," said Paul Ghezzi, CEO at Kontrol. "This decision to postpone the holding of our AGM was not taken lightly, however, given the restrictions of public meetings, management considered it to be in the best interests of the Company and the health and safety of our shareholders to postpone the scheduled AGM and hold it at a later date."
2019 Year-end Financial Reporting and Q1 2020
Kontrol plans to meet its regular year-end financial statement reporting due dates on or before April 29, 2020 and by June 1 for Q1 2020. Presentation and call-in details for the quarterly results will be provided in a separate communication."
Dilutive PP announced. Too bad it has to be at such a low-priced, but until the company can show a significant revenue stream the share price has no higher validity
""PLAN" or the "Company"), a developer of natural pozzolan properties in BC, Canada, wishes to announce that it intends to proceed with a financing totaling $360,000 of up to 12,000,000 units.
The financing consists of a non-brokered private placement of $360,000 for 12,000,000 units @ $0.03 per unit with each unit consisting of one share and one-half warrant. Each warrant entitles the holder to acquire one common share of the Corporation for a period of 12 months following the closing date, at an exercise price of $0.05 per warrant share, subject to an acceleration clause if the shares trade at $0.08 or more for a period of ten consecutive trading days following the completion of the four month holding period.
The financing is subject to individual minimum subscriptions of $3,000, but the overall financing is not otherwise subject to any minimum aggregate subscription.
Subject to certain limitations discussed below, the financing is open to all existing shareholders of the Company as at April 23, 2020, in reliance on the "Existing Shareholder Exemption" pursuant to BC Instrument 45-534. The aggregate acquisition cost to a subscriber under the Existing Shareholder Exemption cannot exceed $15,000 unless the subscriber has obtained advice from a registered investment dealer regarding the suitability of investment. In addition, other investors who qualify under available prospectus exemptions will be allowed to participate in the financing. Existing shareholders of the Company are directed to contact the Company for further information.
If subscriptions received for the financing based on all available exemptions exceed the maximum amount of $360,000, subscriptions will be accepted at the discretion of the Company on a pro rata basis. It is thus possible for a subscription received from a shareholder may not be accepted by the Company if the financing is over-subscribed.
Assuming the financing is fully subscribed, the Company intends to allocate the proceeds as follows: $210,000 for general working capital, $100,000 for equipment procurement, and $50,000 to retire debt supplied by a company owned by the controlling shareholder of the company, Mr. David Richardson.
Although the Company intends to use the proceeds of the financing as described above, the actual allocation of net proceeds may vary from the uses set forth above, depending on future operations or unforeseen events or opportunities. If the financing is not fully subscribed, the Company will apply the proceeds to the above uses in priority and in such proportions as the Company's board of directors may determine is in the best interests of the Company.
As required by Temporary Relief Bulletin issued by the TSX Venture Exchange on April 8, 2020, the company wishes to state that the majority of the funds will not be used to pay management fees or investment relations fees. Additionally, in accordance with BC Instrument 45-534, the Company confirms there is no material fact or material change related to the Company which has not been generally disclosed.
There are currently 26,854,711 common shares issued and outstanding before giving effect to the current financing.
Finders' fees may be payable on the private placement, subject to the policies of the TSX Venture Exchange. This offering is subject to TSX Venture Exchange acceptance. All securities issued under the Post-Consolidation financings are subject to a statutory four month hold period.
Progressive Planet is a Canadian based mineral exploration company with its flagship Z1 Zeolite Quarry in British Columbia and is earning an 100% interest on the Z2 Natural Pozzolan Property near Falkland, BC and earning a 100% interest in Heffley Creek Natural Pozzolan Property. All three properties are within a one-hour drive of Kamloops, BC."
Management,rightly, is attempting to counter the negative Market attitude to KNR's supposed reliance of revenue from fuel sources.
"("Kontrol" or "Company") a leader in the energy efficiency sector through IoT, Cloud and SaaS technology addresses the impact of the decline in oil prices on Kontrol's operations.
Kontrol's business operations are primarily in Ontario, Canada, however the Company has numerous US customers who represent approximately ten percent (10%) of its revenues. Kontrol's customers include owners, operators, and managers of commercial and industrial facilities. Kontrol has an established and diversified customer base. Approximately fifty percent (50%) of Kontrol's annual revenue is from repeat customer business.
Approximately 10% of Kontrol's total revenues are derived from the oil and gas sector and primarily from large cap blue chip customers. The majority of services and solutions which Kontrol provides in the oil and gas sector relate to emission compliance and is regulatory driven versus discretionary. To date there have been no changes to the services and solutions provided by Kontrol to its oil and gas customers.
For its customers in the commercial, industrial, and multi-residential real-estate sectors, the price of oil is much less than relevant than the wholesale and retail cost of electricity. Building improvements, energy savings and technology retrofits are driven primarily by the cost of electricity.
Proposed Plan of Arrangement
Due to ongoing market volatility, Kontrol is postponing its previously announced (January 22, 2020) potential plan of arrangement for its wholly owned engineering firm, Efficiency Engineering Inc. ("EEI"). EEI provides engineering services to industrial, municipal and commercial building owners across Canada, and continues to operate as a wholly owned operating subsidiary of Kontrol Energy.
RE:The Flowr Corp Announces $20 Million Secured Debt Financing
While this is dilutive to the share structure of FLWR, it is hearting to see the presence of insider confidence in the future of the company!
We can hope the coming financial filing will add to shareholder confidence as well.
In a lousy Market anything positive is welcome.
"THE FLOWR CORPORATION ANNOUNCES A CAD $20 MILLION PRIVATE PLACEMENT LED BY INSIDERS & FOURTH QUARTER EARNINGS DATE
The Flowr Corp. has arranged a non-brokered private placement for gross proceeds of $20-million, with the ability, at the company's discretion, to upsize the amount to an aggregate gross proceeds of $25-million. The Company expects to use the proceeds of the Offering for general working capital purposes.
Flowr announces non-brokered private placement of convertible debenture units of $20 million, with ability to upsize to an aggregate of $25 million
Continued support by management and insiders who commit in excess of $10 million, led by Chairman and CEO
Group of major insiders agree to a voluntary 1-year lock-up
Flowr will release fourth quarter earnings after the close on Wednesday, April 29th, 2020 and will host a conference call to review results on Wednesday, April 29th, 2020 at 5:30pm ET.
Chairman & Chief Strategist Steve Klein and Chief Executive Officer Vinay Tolia are leading the Offering with commitments in excess of $10 million. Management and insiders will continue to own approximately 58% of the shares of the Company post financing on a fully diluted basis (including equity incentives).
In addition, certain directors, officers, employees and executives of Flowr, including Chairman & Chief Strategist Steve Klein, Chief Executive Officer Vinay Tolia, Founder and Managing Partner Thomas Flow, Managing Director, Europe Pauric Duffy and Managing Director, Australia & Asia Pacific Peter Comerford who currently collectively control approximately 58% of the Company have agreed to voluntary lock-up agreements (the "Lock-Up Agreements") in connection with the closing of the Offering whereby all shares held by these shareholders will be subject to restrictions on sale until released under the terms of the Lock-Up Agreements on the 12-month anniversary of the closing date of the Offering (the "Closing Date").
The Offering consists of units of the Company (the "Units") at a price of CAD$1,000.00 per Unit. Each Unit consists of one subordinated secured debenture of the Company (each, a "Debenture") and one common share ("Common Share") purchase warrant (each, a "Warrant").
Each Debenture is comprised of CAD$1,000.00 principal amount of convertible debentures of the Company. The Debentures will bear interest at a rate of 10.0% per annum from the Closing Date, calculated semi-annually in arrears on June 30 and December 31 of each year. Interest will, subject to TSX Venture Exchange ("TSXV") approval, be paid annually in Common Shares and paid on December 31 of each year, with the last interest payment to be paid on the fourth anniversary of the Closing Date (the "Maturity Date"). Subject to TSXV approval, the conversion price with respect to the Common Shares issued as payment in kind on account of interest shall be the market price of the Common Shares on the business day immediately prior to the conversion date of such interest payment. Notwithstanding the foregoing, in the event that the TSXV does not approve the payment of interest in Common Shares for any particular interest payment period, such interest shall instead be paid in cash pursuant to the debenture indenture to be entered into between the Company and the debentureholders.
The Debentures will be convertible into Common Shares at the option of the debentureholder at any time and from time to time prior to the Maturity Date upon such holder providing five (5) business days' notice to the Company. The conversion price with respect to the Common Shares issued upon conversion of Debentures is $0.58 per Common Share. Debentureholders converting their Debentures will be entitled to receive accrued and unpaid interest ??thereon ?for the ?period from and including the date of the latest interest payment ??date, to and ?including the date of conversion?.
Any outstanding principal amount of the Debentures not converted prior to the Maturity Date will be repaid by the Company, at the election of the holders of the Debentures, in cash or Common Shares on the Maturity Date.
Each Warrant entitles the holder thereof to acquire one Common Share (each, a "Warrant Share") at an exercise price of $0.76 per Warrant Share (the "Exercise Price") for a period of 36 months from the closing date (the "Expiry Date"). Any Warrants not exercised prior to the Expiry Date shall be deemed to be void and of no further force and effect.
The Debentures will rank subordinate to any and all current secured indebtedness and senior to any and all current and future unsecured indebtedness of the Company and any and all future secured indebtedness of the Company.
The closing of the Offering is currently expected to occur on or about April 23, 2020, but is at the discretion of the Company and is subject to certain conditions including, but not limited to, receipt of approval of the TSXV as well as finalization and execution of definitive documentation.
AltaCorp Capital Inc. ("AltaCorp") is participating in this Offering as an advisor to the Company. AltaCorp is a subsidiary of ATB Financial ("ATB"), which entered into a credit agreement with the Company for access to debt financing of up to CAD$25 million on November 18th, 2019 (the "Credit Agreement"). ATB has consented to the Offering pursuant to the terms of the Credit Agreement. As part of the Offering, the Company and ATB have agreed to amend the terms of the Credit Agreement (the "Amending Agreement"). The Amending Agreement amends, among other things, the following:
the CAD$3.5 million cash collateral account put into place on the closing of the Credit Agreement will be used to permanently paydown the credit facilities under the Credit Agreement on a pro-rata basis;
the inclusion of certain cash-flow reporting requirements and additional certification requirements;
the reduction of certain baskets under the Credit Agreement, including permitted financial assistance and permitted investment baskets being reduced from CAD$15 million to CAD$9.5 million; and
the entering into of a subordination agreement between the senior lenders under the Credit Agreement and the debentureholders under the Offering.
"Despite the challenging capital markets environment, we are extremely fortunate to announce this financing and to have continued support from management and insiders who have been instrumental in Flowr's founding, strategic direction and financing since inception," said Vinay Tolia, Flowr's CEO. "This capital is expected to enable Flowr to become cash flow positive in H2 2020 as we build on our focus of delivering premium dry flower to the Canadian marketplace driven by our flagship product BC Pink Kush and other high THC strains we will be launching imminently as all of our 20 grow rooms in our Kelowna 1 facility will soon be in harvest cycles. We expect to continue to achieve premium price points in the market with our optimized library of high THC strains. Future revenue growth will be further enhanced with contributions from Holigen given the recent receipt of our EU GMP license in Portugal."
A material change report in respect of the Offering is expected to be filed less than 21 days before the expected Closing Date, which the Company believes is reasonable in the circumstances in order to facilitate an expeditious closing and quicker improvement in the Company's balance sheet and financial position.
FOURTH QUARTER 2019 RESULTS RELEASE AND CONFERENCE CALL
The Company will release its fourth quarter 2019 results after the close of the financial markets on Wednesday, April 29th, 2020, which will be followed by a conference call and webcast to review these results on Wednesday, April 29th at 5:30pm Eastern Time.
Conference call and webcast details are as follows:
Toll Free: 1-833-227-5845
Toll/International: 1-647-689-4072
Webcast: flowrcorp.com/investors
Conference call replay details are as follows:
Toll Free: 1-800-585-8367
Toll/International: 1-416-621-4642
Passcode: 6296956
Webcast: flowrcorp.com/investors
The replay of the conference call will be available through midnight on Wednesday, May 6, 2020.
About The Flowr Corporation
The Flowr Corporation is a Toronto-headquartered cannabis company with operations in Canada, Europe, and Australia. Its Canadian operating campus, located in Kelowna, BC, includes a purpose-built, GMP-designed indoor cultivation facility; an outdoor and greenhouse cultivation site; and a state-of-the-art R&D facility that is currently under construction. From this campus, Flowr produces recreational and medicinal products. Internationally, Flowr intends to service the global medical cannabis market through its subsidiary Holigen, which has a license for cannabis cultivation in Portugal and operates GMP licensed facilities in Portugal and Australia."
A significant achievement by management could result in major revenue stream being established.
""PLAN" or the "Company"), a developer of natural pozzolan properties in BC, Canada, is pleased to announce that its project to modify the rheology of zeolite from the Z-1 Zeolite Quarry has been successful.
On December 9, 2019, PLAN announced that it had signed an agreement with the University of Alberta to develop an alternative to fly ash for use in the cement industry. The project was to end on April 30, 2020. The goal of the project was to modify the rheology of its zeolite so that it possessed similar rheology to commercially available fly ash.
On March 10, 2020, PLAN released a shareholder update which disclosed that the rheology (slump) had been improved with a combination of various inputs which will remain proprietary; however, one input in the blend which was disclosed was pulverized, recycled glass.
PLAN is pleased to announce that it has received an additional update from the University of Alberta which revealed that our revised proprietary mix design achieved a slump that has exceeded the target slump of the fly ash based mix design.
"We are extremely excited to see the objective of this research project achieved. We will receive a final report at the end of April or shortly thereafter. The final step before having a product for commercial use is to conduct CSA tests on our proprietary blend." stated Steve Harpur, CEO of PLAN.
The CSA tests which need be completed include Compressive Strength, Alkali-silica Reaction, Sulphate Resistance, and Freeze-thaw Resistance. In addition, one ASTM test will be completed to analyze air voids.
The longest test is the Sulphate Resistance and this test has a duration of 8 months. As a result, the company will be targeting the 2021 construction season to have a commercial product that it can offer as a competitive alternative to fly ash to the ready mix and pre-cast concrete industries in BC and Alberta.
Progressive Planet is a Canadian based mineral exploration company with its flagship Z1 Zeolite Quarry in British Columbia and is earning an 100% option on the Z2 Natural Pozzolan Property near Falkland, BC and a 100% interest in Heffley Creek Natural Pozzolan Property. All three properties are within a one-hour drive of Kamloops, BC."
Another prospect being ,possibly, added to portfolio. When is management going to develop a revenue producing vehicle? ENOUGH ALREADY
"MEDGOLD ANNOUNCES LETTER AGREEMENT IN RELATION TO THE ZLOGOSH PROPERTY, BULGARIA
Medgold Resources Corp. has entered into an exclusive letter agreement with Gecon EOOD with respect to an exploration licence application made by Gecon at Zlogosh, Kyustendil Oblast, western Bulgaria. The main mineralized targets at Zlogosh are situated approximately 40 kilometres by road from Medgold's Tlamino project in Serbia, with which they appear to share considerable geological similarity. The location of Zlogosh relative to the Tlamino project is shown in an image on the company's website.
Historic work at Zlogosh identified multiple gold-in-soil anomalies including the 1,350-metre-by-600-metre Zdravkov Dol target, within which trench sampling returned intervals including 4.70 grams per tonne gold over 10.0 metres and 2.21 g/t Au over 8.0 metres. Other gold-in-soil targets include Kretsul, which returned 5.61 g/t Au over 4.0 metres in trench sampling, and Dobri Dol, which returned 3.04 g/t Au over 10.0 metres and 8.64 g/t Au over 5.0 metres in trenching. The location of mineralized targets at Zlogosh is shown in images on the company's website. Reported soil and trench sample results within the Zlogosh property are the work of previous operators; this work has not been verified by the qualified person. Details of sample collection, preparation and analysis are not known, and no quality assurance/quality control data have been reviewed for the reported work. Similarity of geology between the Zlogosh property and the Tlamino project is not evidence for similarity of mineralization.
Subject to satisfactory completion of due diligence, Medgold is planning to conduct drilling and other exploration activities at Zlogosh, targeting a mineral resource of a similar order -- or greater -- than that seen at the Tlamino project (see Medgold news release dated Jan. 30, 2020). Extensive historical data sets of stream sediment, soil and rock samples are available for Zlogosh, and Medgold intends to apply its understanding gained in similar exploration at Tlamino to these highly prospective targets. Medgold remains committed to the advancement of the Tlamino project in parallel with activities at Zlogosh.
Under the terms of the letter agreement, Medgold has the right to complete certain due diligence activities in regard to Zlogosh, which, if satisfactory, give Medgold the right to enter into an option agreement with Gecon EOOD. The letter agreement provides that said option agreement allows Medgold to earn an initial 51-per-cent interest in Gecon EOOD by financing approximately 330,000 euros in permitting and permitting-related expenditures, followed by a second option to earn a further 44-per-cent interest in Gecon EOOD by incurring approximately 650,000 euros in exploration expenditures. The remaining 5-per-cent interest in Gecon EOOD may be purchased by Medgold for 200,000 euros in cash on the third anniversary of the Zlogosh exploration licence once awarded or, at the election of the residual shareholder, for 200,000 euros in shares of Medgold subsequent to the attainment of exploration expenditures to the value of one million euros. Gecon EOOD is a private company incorporated under the laws of the Republic of Bulgaria.
The Tlamino project
On Jan. 30, 2020, Medgold announced an inferred mineral resource containing approximately 680,000 ounces gold equivalent in 7.1 million tonnes grading 3.0 g/t AuEq at cut-off grade of 0.7 g/t AuEq for the Barje prospect, within the Tlamino project in southern Serbia.
Medgold holds two exploration licences at Tlamino project covering an area of approximately 200 square kilometres. Outcropping mineralization was first observed at the Barje prospect by Yugoslav state agencies in the 1950s and 1960s when a short adit was opened but no drilling was carried out. Between approximately 2005 and 2012, the prospect was held by private and public companies, which carried out limited drilling but failed to intersect significant mineralization.
In 2018 and 2019, Medgold conducted mapping, surface sampling and geophysics (IP) followed by diamond drilling at Barje, which successfully intersected gold mineralization in a shallowly inclined body of hydrothermal breccia below altered schist (see Medgold news release dated March 21, 2019). The inferred mineral resource at the Barje prospect extends from surface to a depth of approximately 110 m as a shallowly inclined zone over an area of approximately 600 m by 350 m. The true thickness of mineralization generally ranges between 10 m and 40 m. A total of 4,089 m of diamond drilling in the areas of Barje, Liska and Karamanica were completed by Medgold during its 2019 exploration programs."
Further delay in trading
" ("Mint" or the "Company") today announced in accordance with Ontario Instrument 51-502 Temporary Exemption from Certain Corporate Finance Requirements of the Ontario Securities Commission (the "Blanket Exemption Order"), which was adopted for the purpose of providing certain filing and other relief to issuers in light of the challenges posted by the COVID-19 pandemic, that it will be delaying the filing and delivery of certain of its continuous disclosure documents.
The Company is relying on the Blanket Exemption Order in delaying (i) the filing of its annual financial statements and related management discussion and analysis for the year ended December 31, 2019 (collectively, the "Required Annual Filings"), and (ii) compliance with the delivery requirements of applicable securities laws relating to the Required Annual Filings. The officers and directors of the Company and certain other persons will remain subject to a trading black-out pursuant to which such persons are prohibited from trading in any securities of the Company until the end of the second full trading day following the day on which the Required Annual Filings are filed on SEDAR and a corresponding news release is issued by the Company.
The Company currently intends to make the Required Annual Filings by June 11, 2020.
Since the filing of the Company's third quarter 2019 interim financial statements and related management discussion and analysis on November 27, 2019 and refiled December 23, 2019, the Company has disclosed by way of news release or filings on SEDAR, the following significant business developments:
the appointment of Ms. Rebecca Ong as a director of the Company as of November 29, 2019;
the appointment of Mr. Firas Al Fraih as a non-voting observer to the board of directors of the Company on January 6, 2020;
the announcement on January 6, 2020 of the filing of an Early Warning Report regarding the acquisition of securities of the Company by Global Business Services for Multimedia ("GBS") and Mobile Telecommunication Group LLC ("MTG" and together with GBS, the "Acquirors") from Gravitas Financial Inc. ("Gravitas") and the fiduciary acting on behalf of the beneficial holders of substantially all of Gravitas' secured debt. Immediately following completion of the transaction, the Acquirors beneficially owned 109,670,736 Mint common shares representing about 56% of the issued and outstanding Mint common shares on an undiluted basis. The transaction represented a change of control of Mint;
an amendment dated January 6, 2020 between GBS, MTG and Mint amending the trust indenture (the "Trust Indenture") pertaining to the Company's Series A debentures;
on January 11, 2020 the appointment of Mr. Firas Al Fraih as a director of the Company and the resignation of Mr. Neil Gilday as a director;
on February 4, 2020, the Company announced that is subsidiaries, Mint Middle East LLC and Mint Gateway for Electronic Payments LLC (collectively "Mint UAE") entered into a binding asset purchase agreement (the "Asset Purchase Agreement") dated January 16, 2020 to divest its direct payroll disbursement service business through its payroll card portfolio in the United Arab Emirates. Pursuant to the terms of the Asset Purchase Agreement, Mint UAE is entitled to receive aggregate net cash consideration of up to AED 102,750,000 (approximately C$36,600,000), comprised of an initial payment of AED 82,750,000 (approximately C$29,500,000) and a performance-based maximum additional cash payment of up to AED 20,000,000 (approximately C$7,100,000) based on the success of the migration of the card portfolio. The buyer has made the initial payment to Mint UAE. The Asset Purchase Agreement provides for a migration period of approximately nine months from the closing date and includes an obligation of Mint UAE to deliver a financial performance bank guarantee and customer representations, warranties, indemnities and covenants typical for a transaction of this nature. The transaction has received the consent of the holders of the Company's Series A debentures and is subject to approval by the TSX Venture Exchange. Trading in the Company's shares will remain halted until the TSX Venture Exchange requirements to allow trading to resume are met;
a further amendment dated April 6, 2020, effective as of December 31, 2019, was made to the Trust Indenture which amended the Trust Indenture to, amongst other things, remove the definition of change of control, change the non-cash payment of interest from subscription receipts to common shares, and waive any interest payment breaches relating to the December 31, 2019 and March 31, 2020 interest payments. The Company is in the process of issuing Mint common shares to MTG, the holder of the Series A debentures, as payment for these interest amounts owing, subject to approval by the TSX Venture Exchange."
A further update from management. Shows a significant discussion of the potential of the Nevada project and also the financial problems that must be overcome to provide the sums to do the drilling that is necessary.
It won't happen overnight, but management realizes the problems.
Hope remains our only option
""Discovery Harbour") is pleased to announce that it has submitted an Exploration Plan of Operations ("the Plan") to the United States Forest Service ("USFS") in furtherance of the Company's planned drill program at the Caldera gold project, Nevada. The Plan includes up to 10 drill targets in five separate mineralized areas.
Mark Fields, the Company's President and CEO, states, "The work we have completed to date represents a major step towards drill testing the potential of the Caldera project. We have selected 10 targets from no less than 33 targets within five of the eight distinct gold mineralized areas at Caldera. Figure 1 attached to this news release outlines the locations of the 10 drill sites, each having the potential to deliver a high grade intersect. I would like to thank our consultants who have helped prioritize these targets."
Mark Fields continues, "Our plan is to drill 100 to 300 metres deeper than any previous drilling on the Caldera project. Figure 2 to this news release is a conceptual construction of historical drill results and interpretation of where high grade gold mineralization is believed to exist, illustrating the need to drill deeper. We believe the high-grade gold occurrences historically drilled at or near surface were deposited by a deeper low sulphidation epithermal gold system. All of the data we have analyzed support our theory that the gold system should be intact."
The Company commenced the drill permitting process late last year. Since then, it has selected the specific drill sites and engaged a Nevada contractor to conduct the baseline studies required for the environmental impact analyses of the Plan. The contractor is prepared to initiate field work as soon as ground and weather conditions allow.
Once complete, the USFS will review the Plan for conformance to regulatory requirements. Future drilling is subject to USFS and other regulatory approvals as well as financing.
Drill Targets
Each of the five mineralized areas (Adara, Calista, Darius, Faustus and Gemina) selected for drill site permitting are described in detail in our January 9, February 10 and March 4, 2020 news releases. Figure 1 provides the location of the 10 drill sites submitted for permitting and Figures 2 and 3 provide a conceptual cross section and selected historical drill hole highlights respectively.
The 100% Discovery Harbour-optioned Caldera property was generated by Don Merrick and John Zimmerman of Genesis Gold Corporation, a private Utah company specializing in gold exploration in the Western United States (www.genesisgoldcorp.com), the foundation of which are the claims first staked by Zsolt Rosta.
Mark Fields, P.Geo., is the Qualified Person for Discovery Harbour as defined in NI 43-101 and has reviewed and approved the technical contents of this news release.
Financing Update
Pursuant to the Company's news release dated March 12, 2020, the Company has made the decision to terminate the remainder of its non-brokered tranche-structured private placement (the "Offering") of an aggregate of $1,000,000 through the issuance of 10,000,000 units priced at $0.10 per unit (each a "Unit"). The Company closed the initial and only tranche of the Offering in the amount of $187,500, consisting of 1,875,000 Units, pursuant to a news release dated February 25, 2020. Each issued Unit consists of one common share and one half of one share purchase warrant, with each whole warrant exercisable into one additional common share at a price of $0.15 for a period of two years, subject to an acceleration clause. It is anticipated that the proceeds of the financing will allow the Company to continue with its permitting process until such time as the financial markets stabilize or recover from the conditions caused in part from COVID-19."