18 August 2020
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Kibo Energy PLC, the multi-asset Africa focused energy company, is seeking admission for its 100% owned UK subsidiary Sloane Developments Ltd , which will be renamed Mast Energy Developments PLC (MED), to the Standard List of the London Stock Exchange plc . Targeted for Q4 2020. The MED business strategy is to acquire and develop a portfolio of flexible small-scale power generation assets, exploiting a growth niche market in the UK for Reserve Power generation to balance out the national grid at critical times.
TruSpine is a medical device company in the spinal device market. The Company is developing disruptive technologies for use in the spinal stabilisation market, commencing with the following three devices: Cervi-LOK – for the cervical and upper thoracic spine Faci-LOK – for the lumbar and lower thoracic spine, and GRASP Laminoplasty – a treatment for decompression of the spinal cord. AQSE Admission due 20 Aug
Quadrise Fuels 2.93p £30.3m (LON:QFI)
Update on entry of an MSAR® Commercial Trial Agreement (the Phase 1 CTA) with Greenfield Energy LLC, the joint venture between Valkor and Tomco Energy plc.
The Phase 1 CTA now entered into has a commercial value to Quadrise of US$150,000 and comprises the following activities that are planned to be completed during the remainder of 2020, subject to completion of preparatory works at the POSP facility by Greenfield prior to Quadrise personnel accessing the site in Utah later this year: Proof of Concept formulation and test work at the Quadrise Research Facility using oil samples supplied by Greenfield; loan of Quadrise MSAR® commercial production equipment and MSAR® test equipment and supply of MSAR® additives; and supply of specialist services to assist Greenfield in completing the commercial scale demonstration trial to produce over 600 barrels (100 tonnes) of power grade MSAR ® . Quadrise, Greenfield and its JV partners, Valkor and Tomco will continue to cooperate in good faith to agree the commercial terms of a conditional MSAR® licence and commercial supply agreement for the production of MSAR® fuel under Phase 2. Such a conditional licence, which is now envisaged would be provided directly to Greenfield (rather than to Valkor and assignable to JVs as had been previously envisaged) will only be finalised upon, and following, inter alia, satisfactory results of the Phase 1 CTA, the agreement between the parties as to Phase 2 commercial terms and the entry of binding agreements.
OKYO Pharma 17.25p £116m (LON:OKYO)
OKYO, the life sciences and biotechnology company focused on the discovery and development of novel molecules to treat inflammatory dry eye diseases and chronic pain, has raised an additional £1.4m through the issue of convertible loan notes. The proceeds of the CLNs, together with the £3.5m raised in July 2020 on similar terms will be used for working capital purposes. OKYO intends to use the net proceeds received from the CLNs, to further the development of its clinical pipeline. The Company has now raised £5.37m since the end of the financial year on 31 March 2020, substantially enhancing cash on hand for advancement of the clinical development program, details of which were included in the announcement of annual result yesterday. The Company now intends to progress a dual listing of its existing equity share capital on NASDAQ (subject to the required regulatory approvals.
Gfinity 3.9p £29m (LON:GFIN)
Gfinity continues to grow its user base, whilst increasing its lucrative US audience and adding new partnerships including Steel Series and TopCashBack. Gfinity Digital Media is one of the fastest-growing revenue streams for the Company. Since the partnership with Venatus was implemented in mid-April 2020, it had delivered close to £200,000 through on-site advertising by the end of July. In addition, Gfinity Digital Media has been selected to deliver a growing number of repeat advertising campaigns for high-profile publishers, with a strong pipeline of direct campaigns already secured and running in August. For example, following a competitive tender, the Danish gaming peripherals company Steel Series chose the Company’s web channels as a location to promote their collection of headsets. The partnership was brokered between Venatus and Gfinity’s direct sales team.
Enteq Upstream 12.75p £8.6m (LON:NTQ)
On 17 August 2020, Enteq received a Purchase Order and confirmation of a cash deposit payment in respect to a conditional contract valued at $0.9m for equipment to deploy in Saudi Aramco‘s drilling operations. The contract is with Enteq’s new strategic partner in the Kingdom of Saudi Arabia, Sawafi Aljazeera Oilfield Products and Services Co. Ltd Sawafi. This order is for the recently released XXH product, an ultra-high durability version of Enteq’s Measurement While Drilling technology. Future opportunities are anticipated for Enteq’s technology partner equipment and new product releases.
Karelian Diamonds 4.3p £1.8m (LON:KDR)
£420k placing at 4p. The net proceeds of the Placing will be used by the Company to explore the acreage surrounding the Lahtojoki diamond deposit and to expedite its technical assessment of the deposit, for exploration in the Kuhmo region of Finland where the Company has discovered a green diamond in till and for general working capital purposes.
MaxCyte 343p £231m (LON:MXCT)
CARMA Cell Therapies™ Expands Phase I Trial of Anti-Mesothelin mRNA CAR-PBMC Cell Therapy MCY-M11. New parallel cohort will broaden evaluation of MCY-M11 in patients through inclusion of a preconditioning regimen and multiple dosing cycles. Clinicians at Massachusetts General Hospital and Hackensack University Medical Center will join those at the National Cancer Institute and Washington University at St. Louis to evaluate MCY-M11 in the ongoing Phase I clinical trial. To date, ongoing first-in-human study has demonstrated promising tolerability of MCY-M11 and feasibility of rapid, one-day autologous manufacturing.
Eurasia Mining 23p £627m (LON:EUA)
General update and successful completion of a US$10m equity placing with institutional investors at a price of 22.5p per share, which is equal to the closing price on 17 August 2020. West Kytlim update: Production is ongoing at site and unaffected by Covid-19 with payments for metal already received. Monchetundra update: The Flanks application advanced through all federal bodies including FSB and Ministry of Defence and is awaiting license issuance. Extensive prior drilling campaigns with c.48,000m drilled at NKT, a part of the Flanks application.
Essensys 152.5p £80.4m (LON:ESYS)
The provider of mission critical software-as-a-service (SaaS) platforms and on-demand cloud services to the flexible workspace industry, announced an unaudited pre-close trading update for the financial year ended 31 July 2020. Revenue for the year was in line with market expectations at £22.4m, an increase of 9% (FY19: £20.6m). Recurring revenue increased by 18% to £19.3m (FY19: £16.3m) and represented 86% of revenue in the year (FY19: 79%). Adjusted EBITDA is expected to be in line with market expectations. The Group’s US business continued to grow strongly with year-on-year recurring revenue increasing 43% to £8.0m from £5.6m in FY19.
Coinsilium 2.35p £3.2m (AQSE:COIN)
The Blockchain, DeFi and Crypto Finance venture operator, announced that its joint venture company with IOV Labs Ltd in Singapore has signed a Memorandum of Understanding with Vietnam-based RedFOX Labs Joint Stock Company to build fast scaling internet businesses on and for the RSK Blockchain in the Southeast Asian region. The MoU is expected to lead to formal commercial and technical agreements whereby RedFOX will migrate its applications to the RSK blockchain and become a hub for RSK blockchain technology expertise in Vietnam under the IOV Asia JV umbrella.
Arricano has agreed a reduction in interest rate from 10.75% to 9.75% per annum on the USD12m loan agreement with Tascombank JSC repayable in June 2024.
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