Author: GlobeNewswire

Article content

SWA Lithium and Koch Technology Solutions Teams Collaborate to Design, Build, and Operate a Field-Pilot DLE Facility to Confirm Engineering Design for SWA Project

Article content

Article content

Samples of Battery-Quality Lithium Carbonate Produced from the Field-Based Pilot Will be Used in the Qualification Process with Potential Off-Take Partners

EL DORADO, Ark., Dec. 19, 2024 (GLOBE NEWSWIRE) — SWA Lithium, the Joint Venture (“JV”) between Standard Lithium Ltd. (“Standard Lithium” or the “Company”) and Equinor ASA (“Equinor”) which is developing the South West Arkansas Project (“SWA” or the “Project”), is pleased to announce that, in partnership with Koch Technology Solutions (“KTS”), it has successfully designed, built, commissioned, and is now operating, a pilot Direct Lithium Extraction (“DLE”) plant at the South West Arkansas Project. The pilot DLE plant is processing brine directly from SWA to confirm engineering design parameters for the Project and provide samples of battery-quality lithium carbonate for use in the qualification process with potential off-take partners.

Article content

Standard Lithium’s Director and President, Dr. Andy Robinson commented: “The Standard Lithium and Equinor teams, along with our various engineering partners are working hard on the design for our first commercial lithium facility, which will be constructed in southwestern Arkansas in Lafayette and Columbia counties. To date, in order to support that design work, we have been using the huge amount of DLE and flowsheet performance data that we’ve collected at our demonstration plant, combined with testwork completed by KTS using our SWA Project brines. This field-based pilot DLE plant is the final step in ensuring that we have exactly the right data to confirm our design and be sure that we know how our commercial plant will operate once constructed.”

“This pilot DLE plant is using real brine, collected in real-time from one of our Project wells (the IPC well), and we are using the same flowsheet as our commercial lithium facility to produce an intermediate lithium chloride solution, the same as what we do every day in our demonstration plant. We’ll then ship this solution to several selected vendor partners so that they can convert the lithium chloride solution to a battery-quality lithium carbonate product. This will serve two functions; first, it will provide us with lithium carbonate samples produced from the Project that we can use in negotiations with possible off-take partners and start the qualification process; second, it can also help the JV in selecting our preferred carbonate equipment vendor as we work through the design and partner evaluation process.

Article content

Article content

The success of this pilot DLE plant is due to the great support and collaboration we have with Mission Creek Resources LLC, and reflects our commitment to form close local partnerships and working relationships. We look forward to keeping our investors informed with data from this important derisking step, and continuing our work towards becoming the first new lithium-from-brine project in North America in over 50 years.”

Highlights of this field-based pilot include:

• The heart of the plant is the same KTS Li-Pro™ Lithium Selective Sorption (Li-Pro LSS) technology, as described in our recent news release (28 October 2024);
• Continued support and integration from the KTS team to allow full engineering design and optimization for the JV’s first commercial facility;
• Brine is being supplied from the JV’s IPC well, which provides a representative brine composition for the SWA Project;
• Brine supply and operation of the pilot DLE plant is ongoing and expected to continue until late-January 2025, at which point sufficient operational experience and design data will have been acquired;
• Concluding operation of the pilot, it is expected to produce approximately 1,000 gallons (3,785 litres) of concentrated and purified lithium chloride solution (6% LiCl solution);
• The 1,000 gallons of 6% LiCl solution will be sent off-site to three separate potential carbonate equipment vendors;
• The three vendors will produce, in total, approximately 30 kg of battery-quality lithium carbonate; and,
• The battery quality lithium carbonate produced will be used for the first phase(s) of qualification with potential off-take partners, and the performance of the vendors will be used to inform the JV with respect to vendor selection for the carbonate portion of the first commercial facility.

Article content

Figure 1 – Aerial photo of the field pilot, located at the Mission Creek Resources gasplant in Arkansas.

Figure 2 – Close-up of the brine conditioning and DLE steps at the field-based pilot plant.

Incentive Grant

The Company has also granted 863,852 stock options, 423,325 restricted share units (“RSUs”), and 182,040 deferred share units (“DSUs”) to management and directors under the Company’s shareholder-approved incentive plans.

The stock options, exercisable at USD$1.42 per share expire in 60 months. A portion of the options vest in equal thirds over thirty-six months, with the balance vesting immediately. The RSUs will also vest in equal thirds over 36 months. DSUs will vest after 12 months and settle in common shares upon the holder’s departure from the Company or a change of control.

The grant of the incentive securities is intended to align compensation of directors and management with the interests of shareholders. For further information regarding the shareholder-approved incentive plans, readers are encouraged to review the management information circular prepared for the annual general meeting of the Company which includes summaries of the incentive plans and which is available under the profile for the Company on SEDAR+ (www.sedarplus.com) and by visiting the Company’s website (www.standardlithium.com).

Article content

About Standard Lithium Ltd.

Standard Lithium is a leading near-commercial lithium development company focused on the sustainable development of a portfolio of lithium-brine bearing properties in the United States. The Company prioritizes brine projects characterized by high-grade resources, robust infrastructure, skilled labor, and streamlined permitting. The Company aims to achieve sustainable, commercial-scale lithium production via the application of a scalable and fully-integrated Direct Lithium Extraction (“DLE”) and purification process. The Company’s signature project, the South West Arkansas (SWA) Project, is located on the Smackover Formation in southern Arkansas, a region with a longstanding and established brine processing industry. The Company has also identified a number of highly prospective lithium brine project areas in the Smackover Formation in East Texas (“ETX”) and is conducting an extensive brine leasing program in this region. The Company is developing the SWA Project and the ETX project in a 55:45 Joint Venture with Equinor. In addition, the Company has an interest in certain mineral leases located in the Mojave Desert in San Bernardino County, California.

Article content

Standard Lithium trades on both the TSX Venture Exchange (“TSXV”) and the NYSE American under the symbol “SLI”; and on the Frankfurt Stock Exchange under the symbol “S5L”. Please visit the Company’s website at www.standardlithium.com for more information.

About Equinor

Equinor is an international energy company committed to long-term value creation in a low-carbon future. Equinor’s portfolio of projects encompasses oil and gas, renewables and low-carbon solutions, with an ambition of becoming a net-zero energy company by 2050. Headquartered in Norway, Equinor is the leading operator on the Norwegian continental shelf and is present in around 30 countries worldwide. Our partnership with Standard Lithium to mature DLE projects builds on our broad US energy portfolio of oil and gas, offshore wind, low carbon solutions and battery storage projects.

For more information on Equinor in the US, please visit: Equinor in the US – Equinor.

About Koch Technology Solutions (KTS)

Koch Technology Solutions is the technology licensing business of Koch Engineered Solutions (KES). KTS creates value for its customers across a growing portfolio of technologies including direct lithium extraction, the polyester value chain, and 1,4-Butananediol plus its derivates. KTS combines its exclusive technologies, expertise, and capabilities with those of other KES companies to provide overall solutions to optimize customer’s capital investments and existing manufacturing assets.

Article content

Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. This news release may contain certain “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward looking information” within the meaning of applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and other similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to intended development timelines, future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, continued operation of the demonstration plant and the pilot DLE plant, regulatory or government requirements or approvals, the reliability of third party information, continued production of lithium chloride solutions, continued access to mineral properties or infrastructure, fluctuations in the market for lithium and its derivatives, changes in exploration costs and government regulation in Canada and the United States, and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements or information. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.

Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/1fd56018-dcc3-4cac-8f02-ecce53fbd713

https://www.globenewswire.com/NewsRoom/AttachmentNg/d37d5d46-73e2-4279-aa3e-ee2d48665aa5

Article content

Article content

SWA Lithium and Koch Technology Solutions Teams Collaborate to Design, Build, and Operate a Field-Pilot DLE Facility to Confirm Engineering Design for SWA Project

Article content

Article content

Samples of Battery-Quality Lithium Carbonate Produced from the Field-Based Pilot Will be Used in the Qualification Process with Potential Off-Take Partners

EL DORADO, Ark., Dec. 19, 2024 (GLOBE NEWSWIRE) — SWA Lithium, the Joint Venture (“JV”) between Standard Lithium Ltd. (“Standard Lithium” or the “Company”) and Equinor ASA (“Equinor”) which is developing the South West Arkansas Project (“SWA” or the “Project”), is pleased to announce that, in partnership with Koch Technology Solutions (“KTS”), it has successfully designed, built, commissioned, and is now operating, a pilot Direct Lithium Extraction (“DLE”) plant at the South West Arkansas Project. The pilot DLE plant is processing brine directly from SWA to confirm engineering design parameters for the Project and provide samples of battery-quality lithium carbonate for use in the qualification process with potential off-take partners.

Article content

Standard Lithium’s Director and President, Dr. Andy Robinson commented: “The Standard Lithium and Equinor teams, along with our various engineering partners are working hard on the design for our first commercial lithium facility, which will be constructed in southwestern Arkansas in Lafayette and Columbia counties. To date, in order to support that design work, we have been using the huge amount of DLE and flowsheet performance data that we’ve collected at our demonstration plant, combined with testwork completed by KTS using our SWA Project brines. This field-based pilot DLE plant is the final step in ensuring that we have exactly the right data to confirm our design and be sure that we know how our commercial plant will operate once constructed.”

“This pilot DLE plant is using real brine, collected in real-time from one of our Project wells (the IPC well), and we are using the same flowsheet as our commercial lithium facility to produce an intermediate lithium chloride solution, the same as what we do every day in our demonstration plant. We’ll then ship this solution to several selected vendor partners so that they can convert the lithium chloride solution to a battery-quality lithium carbonate product. This will serve two functions; first, it will provide us with lithium carbonate samples produced from the Project that we can use in negotiations with possible off-take partners and start the qualification process; second, it can also help the JV in selecting our preferred carbonate equipment vendor as we work through the design and partner evaluation process.

Article content

Article content

The success of this pilot DLE plant is due to the great support and collaboration we have with Mission Creek Resources LLC, and reflects our commitment to form close local partnerships and working relationships. We look forward to keeping our investors informed with data from this important derisking step, and continuing our work towards becoming the first new lithium-from-brine project in North America in over 50 years.”

Highlights of this field-based pilot include:

• The heart of the plant is the same KTS Li-Pro™ Lithium Selective Sorption (Li-Pro LSS) technology, as described in our recent news release (28 October 2024);
• Continued support and integration from the KTS team to allow full engineering design and optimization for the JV’s first commercial facility;
• Brine is being supplied from the JV’s IPC well, which provides a representative brine composition for the SWA Project;
• Brine supply and operation of the pilot DLE plant is ongoing and expected to continue until late-January 2025, at which point sufficient operational experience and design data will have been acquired;
• Concluding operation of the pilot, it is expected to produce approximately 1,000 gallons (3,785 litres) of concentrated and purified lithium chloride solution (6% LiCl solution);
• The 1,000 gallons of 6% LiCl solution will be sent off-site to three separate potential carbonate equipment vendors;
• The three vendors will produce, in total, approximately 30 kg of battery-quality lithium carbonate; and,
• The battery quality lithium carbonate produced will be used for the first phase(s) of qualification with potential off-take partners, and the performance of the vendors will be used to inform the JV with respect to vendor selection for the carbonate portion of the first commercial facility.

Article content

Figure 1 – Aerial photo of the field pilot, located at the Mission Creek Resources gasplant in Arkansas.

Figure 2 – Close-up of the brine conditioning and DLE steps at the field-based pilot plant.

Incentive Grant

The Company has also granted 863,852 stock options, 423,325 restricted share units (“RSUs”), and 182,040 deferred share units (“DSUs”) to management and directors under the Company’s shareholder-approved incentive plans.

The stock options, exercisable at USD$1.42 per share expire in 60 months. A portion of the options vest in equal thirds over thirty-six months, with the balance vesting immediately. The RSUs will also vest in equal thirds over 36 months. DSUs will vest after 12 months and settle in common shares upon the holder’s departure from the Company or a change of control.

The grant of the incentive securities is intended to align compensation of directors and management with the interests of shareholders. For further information regarding the shareholder-approved incentive plans, readers are encouraged to review the management information circular prepared for the annual general meeting of the Company which includes summaries of the incentive plans and which is available under the profile for the Company on SEDAR+ (www.sedarplus.com) and by visiting the Company’s website (www.standardlithium.com).

Article content

About Standard Lithium Ltd.

Standard Lithium is a leading near-commercial lithium development company focused on the sustainable development of a portfolio of lithium-brine bearing properties in the United States. The Company prioritizes brine projects characterized by high-grade resources, robust infrastructure, skilled labor, and streamlined permitting. The Company aims to achieve sustainable, commercial-scale lithium production via the application of a scalable and fully-integrated Direct Lithium Extraction (“DLE”) and purification process. The Company’s signature project, the South West Arkansas (SWA) Project, is located on the Smackover Formation in southern Arkansas, a region with a longstanding and established brine processing industry. The Company has also identified a number of highly prospective lithium brine project areas in the Smackover Formation in East Texas (“ETX”) and is conducting an extensive brine leasing program in this region. The Company is developing the SWA Project and the ETX project in a 55:45 Joint Venture with Equinor. In addition, the Company has an interest in certain mineral leases located in the Mojave Desert in San Bernardino County, California.

Article content

Standard Lithium trades on both the TSX Venture Exchange (“TSXV”) and the NYSE American under the symbol “SLI”; and on the Frankfurt Stock Exchange under the symbol “S5L”. Please visit the Company’s website at www.standardlithium.com for more information.

About Equinor

Equinor is an international energy company committed to long-term value creation in a low-carbon future. Equinor’s portfolio of projects encompasses oil and gas, renewables and low-carbon solutions, with an ambition of becoming a net-zero energy company by 2050. Headquartered in Norway, Equinor is the leading operator on the Norwegian continental shelf and is present in around 30 countries worldwide. Our partnership with Standard Lithium to mature DLE projects builds on our broad US energy portfolio of oil and gas, offshore wind, low carbon solutions and battery storage projects.

For more information on Equinor in the US, please visit: Equinor in the US – Equinor.

About Koch Technology Solutions (KTS)

Koch Technology Solutions is the technology licensing business of Koch Engineered Solutions (KES). KTS creates value for its customers across a growing portfolio of technologies including direct lithium extraction, the polyester value chain, and 1,4-Butananediol plus its derivates. KTS combines its exclusive technologies, expertise, and capabilities with those of other KES companies to provide overall solutions to optimize customer’s capital investments and existing manufacturing assets.

Article content

Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. This news release may contain certain “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward looking information” within the meaning of applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and other similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to intended development timelines, future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, continued operation of the demonstration plant and the pilot DLE plant, regulatory or government requirements or approvals, the reliability of third party information, continued production of lithium chloride solutions, continued access to mineral properties or infrastructure, fluctuations in the market for lithium and its derivatives, changes in exploration costs and government regulation in Canada and the United States, and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements or information. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.

Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/1fd56018-dcc3-4cac-8f02-ecce53fbd713

https://www.globenewswire.com/NewsRoom/AttachmentNg/d37d5d46-73e2-4279-aa3e-ee2d48665aa5

Article content

Article content

Classification Plant at Coringa Commissioned

Article content

Article content

Serabi Gold (AIM:SRB, TSX:SBI; OTCQX: SRBIF) the Brazilian focused gold mining and development company, is pleased to announce that based on the operating progress achieved through December, the classification plant for its 100% owned Coringa Gold Operation (the “Coringa”), located in Pará State, Brazil, within the Tapajós region, is now fully commissioned (all financial amounts are expressed in U.S. dollars unless otherwise indicated).

Article content

Mike Hodgson, CEO of Serabi, commented:

“With Coringa continuing to ramp up and generate positive free cash flow, we are pleased to share that our classification plant at Coringa is operational and working as expected. The plant will be instrumental in achieving Phase 1 of our growth strategy, which is to raise our annual production profile to 60,000oz by 2026. This marks the culmination of 10 months of construction and commissioning and is a critical achievement for the Company. I extend my thanks and gratitude to the Serabi team for their remarkable dedication and perseverance in achieving this significant milestone.

Our fourth quarter is, as predicted, shaping up to be the best quarter of the year, in part driven by the improvement in grades at Palito which have returned to the 6.0-7.0g/t Au range in recent months. Now with the commissioning of the Coringa plant, we expect Q4-2024 to be our best operational quarter since 2020.

We can now direct our attention to Phase 2, which is to grow our resource at both Palito and Coringa, and ultimately support an annual production profile of +100,000oz. An expected year end cash position to exceed $21.0 million and in conjunction with our expected free cash flow generation, will allow us for the first time in a number of years to fund an extensive brownfield exploration programme to significantly grow the resource at Coringa and Palito, rather than simply replenishing our depleted ounces. Our exploration programme is planned for up to 30,000 meters of drilling in 2025 with a budget of approximately $8 million. I look forward to providing a more detailed exploration update in the coming weeks.

Article content

Article content

Video footage of classification plant at Coringa can be accessed here: https://brrmedia.news/SRB_SORTER

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018.

The person who arranged for the release of this announcement on behalf of the Company was Andrew Khov, Vice President, Investor Relations & Business Development.

About Serabi Gold plc
Serabi Gold plc is a gold exploration, development and production company focused on the prolific Tapajós region in Para State, northern Brazil. The Company has consistently produced 30,000 to 40,000 ounces per year with the Palito Complex and is planning to double production in the coming years with the construction of the Coringa Gold project. Serabi Gold plc recently made a copper-gold porphyry discovery on its extensive exploration licence. The Company is headquartered in the United Kingdom with a secondary office in Toronto, Ontario, Canada.

Article content

Enquiries

SERABI GOLD plc
Michael Hodgson        t +44 (0)20 7246 6830
Chief Executive        m +44 (0)7799 473621

Andrew Khov         m +1 647 885 4874
Vice President, Investor Relations &
Business Development
        e contact@serabigold.com

        www.serabigold.com

BEAUMONT CORNISH Limited
Nominated Adviser & Financial Adviser
Roland Cornish / Michael Cornish        t +44 (0)20 7628 3396

PEEL HUNT LLP
Joint UK Broker
Ross Allister        t +44 (0)20 7418 9000

TAMESIS PARTNERS LLP
Joint UK Broker
Charlie Bendon/ Richard Greenfield        t +44 (0)20 3882 2868

CAMARCO
Financial PR – Europe
Gordon Poole / Emily Hall                t +44 (0)20 3757 4980

HARBOR ACCESS
Financial PR – North America
Jonathan Patterson / Lisa Micali                t +1 475 477 9404

Copies of this announcement are available from the Company’s website at www.serabigold.com.

See www.serabigold.com for more information and follow us on twitter @Serabi_Gold

Assay Results
Assay results reported within this release include those provided by the Company’s own on-site laboratory facilities at Palito and have not yet been independently verified. Serabi closely monitors the performance of its own facility against results from independent laboratory analysis for quality control purpose. As a matter of normal practice, the Company sends duplicate samples derived from a variety of the Company’s activities to accredited laboratory facilities for independent verification. Since mid-2019, over 10,000 exploration drill core samples have been assayed at both the Palito laboratory and certified external laboratory, in most cases the ALS laboratory in Belo Horizonte, Brazil. When comparing significant assays with grades exceeding 1 g/t gold, comparison between Palito versus external results record an average over-estimation by the Palito laboratory of 6.7% over this period. Based on the results of this work, the Company’s management are satisfied that the Company’s own facility shows sufficiently good correlation with independent laboratory facilities for exploration drill samples. The Company would expect that in the preparation of any future independent Reserve/Resource statement undertaken in compliance with a recognized standard, the independent authors of such a statement would not use Palito assay results without sufficient duplicates from an appropriately certificated laboratory.

Article content

Forward-looking statements
Certain statements in this announcement are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ‘‘believe’’, ‘‘could’’, “should” ‘‘envisage’’, ‘‘estimate’’, ‘‘intend’’, ‘‘may’’, ‘‘plan’’, ‘‘will’’ or the negative of those, variations or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors’ current expectations and assumptions regarding the Company’s future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors’ current beliefs and assumptions and are based on information currently available to the Directors. Several factors could cause actual results to differ materially from the results discussed in the forward-looking statements including risks associated with vulnerability to general economic and business conditions, competition, environmental and other regulatory changes, actions by governmental authorities, the availability of capital markets, reliance on key personnel, uninsured and underinsured losses and other factors, many of which are beyond the control of the Company. Although any forward-looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions, the Company cannot assure investors that actual results will be consistent with such forward looking statements.

Article content

Qualified Persons Statement
The scientific and technical information contained within this announcement has been reviewed and approved by Michael Hodgson, a Director of the Company. Mr Hodgson is an Economic Geologist by training with over 30 years’ experience in the mining industry. He holds a BSc (Hons) Geology, University of London, a MSc Mining Geology, University of Leicester and is a Fellow of the Institute of Materials, Minerals and Mining and a Chartered Engineer of the Engineering Council of UK, recognizing him as both a Qualified Person for the purposes of Canadian National Instrument 43-101 and by the AIM Guidance Note on Mining and Oil & Gas Companies dated June 2009.

Notice
Beaumont Cornish Limited, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting as nominated adviser to the Company in relation to the matters referred herein. Beaumont Cornish Limited is acting exclusively for the Company and for no one else in relation to the matters described in this announcement and is not advising any other person and accordingly will not be responsible to anyone other than the Company for providing the protections afforded to clients of Beaumont Cornish Limited, or for providing advice in relation to the contents of this announcement or any matter referred to in it.

Neither the Toronto Stock Exchange, nor any other securities regulatory authority, has approved or disapproved of the contents of this news release

Article content

Article content

TEL AVIV, Israel, Dec. 18, 2024 (GLOBE NEWSWIRE) — Seegnal eHealth Ltd (“Seegnal” or the “Company”), an Israeli digital health provider, today announced that its Polish distributor recently signed a binding agreement with a network of Private Hospital in Poland to implement Seegnal’s “Virtual Pharmacist” system across the network of 20 hospitals. The system will be installed in all the network’s hospitals following the completion of a pilot program in one of the hospitals, which is expected to commence Q1 of 2025.

Article content

Article content

Article content

Eyal Schneid Seegnal’s CEO commented : “This agreement in the Polish market is a milestone for Seegnal. It will be the first installation of ‘Virtual pharmacist’ clinical support system in a major European country; Poland has over 890 public hospitals with over 165,000 beds. I believe that this agreement will generate significant revenues in the next years for Seegnal, opening a huge potential in this chain and following in all of Poland’s public and private sectors.”

Seegnal’s system has demonstrated success in healthcare organisations worldwide, including Israel’s Maccabi and Leumit Health Services, hospitals in Abu Dhabi, and recently in Poland, Leumit Health Services conducted a study integrating Seegnal’s platform with pharmacogenetics (customising medications based on patients’ DNA). This research showed significant benefits, including reduced hospitalisations and enhanced therapeutic decisions, improving patient outcomes.

Seegnal continues to be a global pioneer in personalized medication management, driving safer and more effective healthcare practices.

Article content

Article content

Seegnal, originally established within Teva (TEVA); the largest generic pharmaceutical manufacturer in the process of raising capital prior to an expected listing on the Toronto Stock Exchange Venture (TSXV).

Seegnal E-Health Ltd. is an Israeli Software company providing a Seegnal clinical patented patient-tailored clinical decision support system (CDSS) in a software as a service (“SAAS”) model. Seegnal is designed specifically for the point of care using a single screen – one glance method to view and resolve any potential risk to the patient. The patented screen and workflow allow doctors to prescribe safe and personally tailored prescriptions in seconds. The system has been proven to reduce alert load by 94%, holds a 98% alert accuracy, and has unique precision medication capabilities utilizing pharmacogenomics. Seegnal exclusively integrates at the point-of-care, hundreds of unique patient-specific data points like genetics, food, results of lab tests, ECG, smoking vital signs, liver functions, and more and weights the medication prescribed in real-time against all those clinical factors and is revolutionary in that it allows patient-specific (up to DNA level) tailored medicine therapy.

Article content

Safe Harbor

This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will,” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Further, certain forward-looking statements, such as those are based on assumptions as to future events that may not prove to be accurate. Forward-looking statements contained in this announcement are made as of this date, and Seegnal eHealth Ltd. undertakes no duty to update such information except as required under applicable law.

Contact Information

Seegnal: Eyal Schneid CEO – eyal.schneid@seegnal.com

Exiteam Capital Partners Ltd.: Ronnie Jaegermann – ronnie@exit-team.com

Article content

Article content

CALGARY, Alberta, Dec. 18, 2024 (GLOBE NEWSWIRE) — PrairieSky Royalty Ltd. (“PrairieSky” or the “Company“) (TSX: PSK) is pleased to announce the amendment and extension of its unsecured, covenant-based revolving credit facility and operating credit facility (together, the “Credit Facility”), with a syndicate of Canadian banks.

Article content

Article content

PrairieSky has voluntarily decreased the Credit Facility from $725 million to $350 million. The reduced Credit Facility is aligned with PrairieSky’s long-term strategy of maintaining a strong balance sheet. The Credit Facility provides for a permitted increase up to $600 million, subject to lender consent. The sustainability-linked performance and pricing mechanisms under the Credit Facility have been removed while all other covenants under the amended Credit Facility are unchanged. The Credit Facility matures on February 28, 2028.

Article content

PrairieSky had $102.5 million drawn under its Credit Facility at September 30, 2024.

FORWARD-LOOKING STATEMENTS

This press release contains certain forward-looking statements. The use of any of the words “expect”, “anticipate”, “may”, “will”, “should”, “believe”, “intends”, and similar expressions are intended to identify forward-looking statements. Forward-looking statements contained in this press release include our strategy of maintaining a strong balance sheet over the long term.

Readers and investors are cautioned that the assumptions used in the preparation of such forward-looking statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Our actual results, performance, or achievements could differ materially from those expressed in, or implied by, these forward-looking statements. We can give no assurance that any of the events anticipated will transpire or occur, or if any of them do, what benefits we will derive from them.

Article content

Article content

By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond our control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, lack of pipeline capacity, currency fluctuations, imprecision of reserve estimates, royalties, environmental risks, taxation, regulation, changes in tax or other legislation, competition, and our ability to access sufficient capital from internal and external sources. The foregoing and other risks are described in more detail in PrairieSky’s MD&A and the Annual Information Form for the period ended December 31, 2023 under the headings “Risk Management” and “Risk Factors”, respectively, each of which is available at www.sedarplus.com.

Further, any forward-looking statement is made only as of the date of this press release, and PrairieSky undertakes no obligation to update or revise any forward-looking statement or statements to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events, except as required by applicable securities laws. New factors emerge from time to time, and it is not possible for PrairieSky to predict all of these factors or to assess in advance the impact of each such factors on PrairieSky’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.

Article content

The forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

ABOUT PRAIRIESKY ROYALTY LTD.

PrairieSky is a royalty-focused company, generating royalty revenues as petroleum and natural gas are produced from its properties. PrairieSky has a diverse portfolio of properties that have a long history of generating funds from operations and that represent the largest and most concentrated independently-owned fee simple mineral title position in Canada. PrairieSky’s common shares trade on the Toronto Stock Exchange under the symbol PSK.

FOR FURTHER INFORMATION PLEASE CONTACT:

PDF available: http://ml.globenewswire.com/Resource/Download/2803b352-b8bd-42fb-9c77-97f464170333

Article content

Article content

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Article content

Article content

TORONTO, Dec. 17, 2024 (GLOBE NEWSWIRE) — HEALWELL AI Inc. (“HEALWELL” or the “Company”) (TSX: AIDX) (OTCQX:HWAIF), a data science and AI company focused on preventative care, is pleased to announce that it has entered into an amended agreement pursuant to which Eight Capital and Scotiabank, as lead underwriters and joint bookrunners, together with a syndicate of underwriters (collectively, the “Underwriters”), will purchase, by way of a private placement on a “bought deal” basis (i) 12,500,000 subscription receipts of the Company (the “Subscription Receipts”),at a price of $2.00 per Subscription Receipt (the “Subscription Receipt Issue Price”); and (ii) 31,250 convertible debentures of the Company (the “Convertible Debentures”) at a price per Convertible Debenture of $960, for aggregate gross proceeds of $55,000,000.

Article content

Each Subscription Receipt will entitle the holder thereof to receive, upon satisfaction of the Release Conditions (as defined below), for no additional consideration, one unit of the Company consisting of one Class A Subordinate Voting Share (each, a “Share”) and one-half of one Share purchase warrant, with each whole warrant exercisable at a price of $2.50 for a period of 36 months following the closing of the Offering.

The gross proceeds of the Subscription Receipt portion of the Offering, less 50% of the Underwriters’ cash commission and certain expenses of the Underwriters, will be deposited in escrow on closing of the Offering until the satisfaction of certain release conditions, including that all conditions precedent to the Transaction (as defined below) have been met (the “Release Conditions”). In the event that the Release Conditions have not been satisfied prior to 5:00 p.m. (Vancouver Time) on June 30, 2025, or the Company advises the Underwriters or announces to the public that it does not intend to satisfy the Release Conditions or that the Transaction has been terminated, the aggregate issue price of the Subscription Receipts (plus any interest earned thereon) shall be returned to the applicable holders of the Subscription Receipts, and such Subscription Receipts shall be automatically cancelled and be of no further force and effect.

Article content

Article content

The Convertible Debentures will be issued with a 4% original issue discount and will be convertible into Shares at a price of $2.40 per Share. The Company may force the conversion of all of the principal amount of the then outstanding Convertible Debentures at a price of $2.40 per Share on not less than 30 days’ notice should, at any time following the date that is 4 months and 1 day following the issue date, the daily volume weighted average trading price of the Shares be greater than $3.85 for any 10 consecutive trading days.

The Convertible Debentures will bear interest at the rate of 10% per annum, payable semi-annually in arrears on June 30 and December 31 of each year, beginning on June 30, 2025. The Convertible Debentures will mature on December 31, 2029, unless earlier repurchased, redeemed, or converted in accordance with their terms.

The Convertible Debentures will not be redeemable at the Company’s option prior to December 31, 2027. On or after January 1, 2028, the Convertible Debentures will be redeemable at the Company’s option, in whole or in part, at a price equal to 110% of the principal amount of the Convertible Debentures to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date.

Article content

The Company has granted the Underwriters an option to offer for sale up to an additional 15% of the Subscription Receipts, exercisable in whole or in part at any time for a period of up to 48 hours prior to the closing date.

The Company intends to use the net proceeds of the Offering to partially fund the cash portion of the purchase price for the Company’s acquisition of Orion Health Holdings Limited (the “Transaction”), as described in greater detail in the Company’s press release dated December 16, 2024.

Completion of the Offering will be subject to various conditions, including the approval of the Toronto Stock Exchange. As the number of Shares to be issued in the Transaction and the Offering will exceed 25% of the number of HEALWELL’s current issued and outstanding Shares, HEALWELL is required to obtain shareholder approval from shareholders holding at least a majority of the voting power of the Company. Closing of the Offering is expected to occur on or about January 7, 2025.

Dr. Alexander Dobranowski
Chief Executive Officer
HEALWELL AI Inc.

About HEALWELL

HEALWELL is a healthcare artificial intelligence company focused preventative care. Its mission is to improve healthcare and save lives through early identification and detection of disease. Using its own proprietary technology, the Company is developing and commercializing advanced clinical decision support systems that can help healthcare providers detect rare and chronic diseases, improve efficiency of their practice and ultimately help improve patient health outcomes. HEALWELL is executing a strategy centered around developing and acquiring technology and clinical sciences capabilities that complement the Company’s road map. HEALWELL is publicly traded on the Toronto Stock Exchange under the symbol “AIDX” and on the OTC Exchange under the symbol “HWAIF”. To learn more about HEALWELL, please visit https://healwell.ai/.

Article content

About ORION HEALTH

Orion Health is a global healthcare technology company focused on reimagining healthcare for all. Orion Health is leading the change in digital health with health and care organizations to improve the wellbeing of every individual with our world leading Unified Healthcare Platform. Made up of a Virtuoso digital front door, Amadeus digital care record, and Orchestral health intelligence platform – each underpinned by extensive health and social data sets, machine learning, and 30 years of innovation focused purely on improving global well-being. www.orionhealth.com.

Forward Looking Statements

Certain statements in this press release, constitute “forward-looking information” and “forward looking statements” (collectively, “forward looking statements”) within the meaning of applicable Canadian securities laws and are based on assumptions, expectations, estimates and projections as of the date of this press release. Forward-looking statements in this press release include statements with respect to, among other things, the closing of the Transaction and the Offering and the terms on which each of them are expected to be completed. Forward-looking statements are often, but not always, identified by words or phrases such as “in the event”, “intends” or variations of such words and phrases or statements that certain future conditions, actions, events or results “will”, “may”, “could”, “would”, “should”, “might” or “can” be taken, occur or be achieved, or the negative of any of these terms. Forward-looking statements are necessarily based upon management’s perceptions of historical trends, current conditions and expected future developments, as well as a number of specific factors and assumptions that, while considered reasonable by HEALWELL as of the date of such statements, are outside of HEALWELL’s control and are inherently subject to significant business, economic and competitive uncertainties and contingencies which could result in the forward-looking statements ultimately being entirely or partially incorrect or untrue. Forward looking statements contained in this press release are based on various assumptions, including, but not limited to, the following: the parties’ ability to satisfy any conditions precedent to completion of the Transaction and the Offering, including receipt of all shareholder, regulatory and TSX approvals; HEALWELL’s ability to complete the Transaction and the Offering or to complete them on the terms described above; HEALWELL’s ability to access sources of debt and equity financing to complete the acquisition and the terms on which such financing may be provided; the stability of general economic and market conditions; HEALWELL’s ability to comply with applicable laws and regulations; HEALWELL’s continued compliance with third party intellectual property rights; and that the risk factors noted below, collectively, do not have a material impact on HEALWELL’s business, operations, revenues and/or results. By their nature, forward-looking statements are subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections, or conclusions will not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities will not be achieved.

Article content

Known and unknown risk factors, many of which are beyond the control of HEALWELL, could cause the actual results of HEALWELL to differ materially from the results, performance, achievements, or developments expressed or implied by such forward-looking statements. Such risk factors include but are not limited to those factors which are discussed under the section entitled “Risk Factors” in HEALWELL’s most recent annual information form dated April 1, 2024, which is available under HEALWELL’s SEDAR+ profile at www.sedarplus.com. The risk factors are not intended to represent a complete list of the factors that could affect HEALWELL and the reader is cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking statements. There can be no assurance that forward looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management’s expectations and plans relating to the future. HEALWELL disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law. All of the forward-looking statements contained in this press release are qualified by these cautionary statements.

For more information:

Pardeep S. Sangha
Investor Relations, HEALWELL AI Inc.
Phone: 604-572-6392
ir@healwell.ai

Article content

Article content

TORONTO, Dec. 17, 2024 (GLOBE NEWSWIRE) — In a release issued early today under the same headline by Canadian Life Companies Split Corp. (TSX: LFE, LFE.PR.B), please note that paragraph two should read “Class A shareholders will continue to receive regular monthly cash distributions targeted to be $0.10 per share following the stock split, resulting in an increase in total distributions to be received of approximately 10%.” The corrected release follows:

Article content

Article content

Canadian Life Companies Split Corp. (“the Company”) (TSX: LFE, LFE.PR.B) is pleased to announce a stock split of its Class A shares. The Class A shareholders of record date at the close of business on December 19, 2024 will receive an additional 10 post-split shares for every 100 Class A shares they hold. The stock split is subject to approval by the Toronto Stock Exchange (the “TSX”).

Article content

Class A shareholders will continue to receive regular monthly cash distributions targeted to be $0.10 per share following the stock split, resulting in an increase in total distributions to be received of approximately 10%.

The Class A shares are expected to commence trading on an ex-split basis at the opening of trading on December 19, 2024. No fractional Class A shares will be issued, and the number of Class A shares each holder shall receive will be rounded down to the nearest whole number. The stock split is a non-taxable event.

The recent extension of the Company’s termination date included a retraction right for Class A shareholders and Preferred shareholders. Upon completion of the stock split, all retractions have been satisfied and no further action will be taken.

The impact of the stock split will be reflected in the next reported net asset value per unit as at December 31, 2024.

The Company invests in a portfolio of four publicly traded Canadian life insurance companies as follows: Great‐West Lifeco Inc., Industrial Alliance Insurance & Financial Services Inc., Manulife Financial Corporation and Sun Life Financial Inc.

Article content

Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions “expect”, “intend”, “will” and similar expressions to the extent they relate to the Company. The forward-looking statements are not historical facts but reflect the Company’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Investors should read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently, and past performance may not be repeated. Please read the Company’s publicly filed documents which are available at www.sedarplus.com.

Article content

Article content

Digihost and NANO Nuclear look to support New York State’s Energy Plan to build advanced, clean and affordable nuclear energy

Article content

Article content

MIAMI and NEW YORK, Dec. 17, 2024 (GLOBE NEWSWIRE) — Digihost Technology Inc. (“Digihost”) (NASDAQ/TSXV: DGHI), an innovative energy infrastructure company developing data centers, and NANO Nuclear Energy Inc. (NASDAQ: NNE) (“NANO Nuclear”), a leading advanced nuclear energy and technology company focused on developing portable, clean energy solutions, today announced a joint submission to a New York State Energy Research and Development Authority (NYSERDA) Request for Information (RFI) concerning the development of advanced nuclear energy technologies in New York State.

Article content

This joint submission builds on the Memorandum of Understanding (MOU) between NANO Nuclear and Digihost that was announced on December 13 to advance the transition to carbon-free energy at Digihost’s 60-megawatt power plant in upstate New York. It also establishes NANO Nuclear as a key participant in New York State’s pursuit of strategic partnerships and initiatives that align with its goals of achieving a zero-emission grid in its future for all New Yorkers. The collaboration with Digihost further enables NANO Nuclear to offer New York practical strategies and innovative solutions to address energy challenges faced by industries within the state.

The RFI was initially announced by New York state on November 15, 2024. The RFI aims to gather information and gauge market interest for increased deployment of renewables and promoting the development of advanced nuclear technology such as NANO Nuclear’s “ZEUS” and “ODIN” microreactors in development.

Figure 1 – NANO Nuclear Energy Inc. and Digihost Technology Inc. File a Joint Response to the New York State Energy Research and Development Authority’s Request for Information Regarding the Development of Advanced Nuclear Energy Technologies in the State of New York.

Article content

Article content

“Our joint response to the NYSERDA RFI brings us a step towards a cleaner and more efficient New York State,” said Michel Amar, CEO of Digihost Technology. “In addition to our 60-megawatt facility, nuclear powered solutions have the potential to reshape many other energy-intensive operations throughout the state. We are particularly pleased to partner with NANO Nuclear on this initiative and look forward to our dialogue with New York State on this important issue.”

“We are excited to announce our joint response to New York’s Request for Information,” said Jay Yu, Founder and Chairman of NANO Nuclear. “Our proprietary microreactors in development are designed to produce reliable, scalable, and sustainable energy that companies like Digihost can use to power their operations. We are delighted to work alongside Digihost to provide New York State with a template for viable and cost-effective alternatives to highly polluting carbon-based energy forms and variable sources like wind or solar.”

About Digihost Technologies Inc.

Digihost is an innovative energy infrastructure company that develops data centers to drive the expansion of sustainable energy assets.

Article content

For more corporate information please visit:  https://www.digihostpower.com//

Digihost Technologies LINKEDIN
Digihost Technologies X PLATFORM

For further Digihost Technology information, please contact:
Michel Amar, Chief Executive Officer
Email: IR@Digihostpower.com
Business Tel: (888)-474-9222

About NANO Nuclear Energy, Inc.

NANO Nuclear Energy Inc. (NASDAQ: NNE) is an advanced technology-driven nuclear energy company seeking to become a commercially focused, diversified, and vertically integrated company across five business lines: (i) cutting edge portable microreactor technology, (ii) nuclear fuel fabrication, (iii) nuclear fuel transportation, (iv) nuclear applications for space and (v) nuclear industry consulting services. NANO Nuclear believes it is the first portable nuclear microreactor company to be listed publicly in the U.S.

Led by a world-class nuclear engineering team, NANO Nuclear’s products in technical development are “ZEUS”, a solid core battery reactor, and “ODIN”, a low-pressure coolant reactor, each representing advanced developments in clean energy solutions that are portable, on-demand capable, advanced nuclear microreactors.

Article content

Advanced Fuel Transportation Inc. (AFT), a NANO Nuclear subsidiary, is led by former executives from the largest transportation company in the world aiming to build a North American transportation company that will provide commercial quantities of HALEU fuel to small modular reactors, microreactor companies, national laboratories, military, and DOE programs. Through NANO Nuclear, AFT is the exclusive licensee of a patented high-capacity HALEU fuel transportation basket developed by three major U.S. national nuclear laboratories and funded by the Department of Energy. Assuming development and commercialization, AFT is expected to form part of the only vertically integrated nuclear fuel business of its kind in North America.

HALEU Energy Fuel Inc. (HEF), a NANO Nuclear subsidiary, is focusing on the future development of a domestic source for a High-Assay, Low-Enriched Uranium (HALEU) fuel fabrication pipeline for NANO Nuclear’s own microreactors as well as the broader advanced nuclear reactor industry.

NANO Nuclear Space Inc. (NNS), a NANO Nuclear subsidiary, is exploring the potential commercial applications of NANO Nuclear’s developing micronuclear reactor technology in space. NNS is focusing on applications such as power systems for extraterrestrial projects and human sustaining environments, and potentially propulsion technology for long haul space missions. NNS’ initial focus will be on cis-lunar applications, referring to uses in the space region extending from Earth to the area surrounding the Moon’s surface.

Article content

For more corporate information please visit: https://NanoNuclearEnergy.com/

For further NANO Nuclear information, please contact:
Email: IR@NANONuclearEnergy.com
Business Tel: (212) 634-9206

PLEASE FOLLOW OUR SOCIAL MEDIA PAGES HERE:

NANO Nuclear Energy LINKEDIN
NANO Nuclear Energy YOUTUBE
NANO Nuclear Energy X PLATFORM

Cautionary Statement

Trading in the securities of the Digihost and NANO Nuclear should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the TSX Venture Exchange, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor The Nasdaq Stock Market accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statement Disclaimer of Digihost

Except for the statements of historical fact, this news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) that are based on expectations, estimates and projections as at the date of this news release and are covered by safe harbors under Canadian and United States securities laws. Forward-looking information in this news release includes information about potential further improvements to profitability and efficiency across mining operations, including, as a result of Digihost’s expansion efforts, potential for Digihost’s long-term growth, and the business goals and objectives of Digihost. Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to: future capital needs and uncertainty of additional financing; development and integration of clean energy solutions may not be completed on the timelines anticipated by Digihost, or at all; share dilution resulting from equity issuances; risks relating to the strategy of maintaining and increasing Bitcoin holdings and the impact of depreciating Bitcoin prices on working capital; effects on Bitcoin prices as a result of the most recent Bitcoin halving; development of additional facilities and installation of infrastructure to expand operations may not be completed on the timelines anticipated by Digihost, or at all; ability to access additional power from the local power grid; a decrease in cryptocurrency pricing, volume of transaction activity or generally, the profitability of cryptocurrency mining; further improvements to profitability and efficiency may not be realized; an increase in natural gas prices may negatively affect the profitability of Digihost’s power plant; the digital currency market; Digihost’s ability to successfully mine digital currency on the cloud; Digihost may not be able to profitably liquidate its current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on Digihost’s operations; the volatility of digital currency prices; and other related risks as more fully set out in Digihost’s Annual Information Form and other documents disclosed under the Company’s filings at www.sedarplus.ca and www.SEC.gov/EDGAR. The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of Digihost based on information currently available to Digihost. In connection with the forward-looking information contained in this news release, Digihost has made assumptions about: the current profitability in mining cryptocurrency (including pricing and volume of current transaction activity); profitable use of Digihost’s assets going forward; Digihost’s ability to profitably liquidate its digital currency inventory as required; historical prices of digital currencies and the ability of Digihost to mine digital currencies on the cloud will be consistent with historical prices; the ability to maintain reliable and economical sources of power to run its cryptocurrency mining assets; the negative impact of regulatory changes in the energy regimes in the jurisdictions in which Digihost operates; and there will be no regulation or law that will prevent Digihost from operating its business. Digihost has also assumed that no significant events occur outside of Digihost’s normal course of business. Although Digihost believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainties therein. Digihost undertakes no obligation to revise or update any forward-looking information other than as required by law.

Article content

Cautionary Note Regarding Forward Looking Statements of NANO Nuclear

This news release and statements of NANO Nuclear’s in its collaborators’ management in connection with this news release or related events contain or may contain “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. In this context, forward-looking statements (including, without limitation, those related to the potential benefits to NANO Nuclear of the RFI submission described herein) mean statements related to future events, which may impact NANO Nuclear’s expected future business and financial performance, and often contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “potential”, “will”, “should”, “could”, “would” or “may” and other words of similar meaning. These forward-looking statements are based on information available to NANO Nuclear as of the date of this news release and represent management’s current views and assumptions. Forward-looking statements are not guarantees of future performance, events or results and involve significant known and unknown risks, uncertainties and other factors, which may be beyond NANO Nuclear’s control. For NANO Nuclear, particular risks and uncertainties that could cause actual future results to differ materially from those expressed in forward-looking statements include but are not limited to the following: (i) risks related to NANO Nuclear’s U.S. Department of Energy (“DOE”), U.S. Nuclear Regulatory Commission (“NRC”) or state nuclear fuel licensing submissions, (ii) risks related the development of new or advanced technology, including difficulties with design and testing, cost overruns, regulatory delays and the development of competitive technology, (iii) NANO Nuclear’s ability to obtain contracts and funding to be able to continue operations, (iv) risks related to uncertainty regarding our ability to technologically develop and commercially deploy a competitive advanced nuclear reactor or other technology in the timelines anticipated, if ever, (v) risks related to the impact of government regulation and policies including by the DOE and NRC, including those associated with the recently enacted ADVANCE Act, and (vi) similar risks and uncertainties associated with the operating an early stage business a highly regulated and rapidly evolving industry. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this news release. These factors may not constitute all factors that could cause actual results to differ from those discussed in any forward-looking statement, and NANO Nuclear therefore encourages investors to review other factors that may affect future results in its filings with the SEC, which are available for review at www.sec.gov and at https://ir.nanonuclearenergy.com/financial-information/sec-filings. Accordingly, forward-looking statements should not be relied upon as a predictor of actual results. NANO Nuclear does not undertake to update its forward-looking statements to reflect events or circumstances that may arise after the date of this news release, except as required by law.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d24c3172-45f5-4ae2-aae8-868ed9a43701

Article content

Article content

HIGHLIGHTS   

Article content

Article content

• Multiple high-grade polymetallic (Zn, Pb, Ag) zones intersected in the upper part of the mine, including:
  • 14.7% Zn 5.2% Pb and 2.10 Ag Opt over 13.2 ft from 380-396.4 ft, DH 7099
  • 8.83% Zn 2.95% Pb and .85 Ag Opt over 13.5 ft from 361.5-375 ft, DH 7093
  • 4.99% Zn 1.40% Pb and .48 Ag Opt over 8.8 ft from 66.5-75.3 ft, DH 7097
• To date, Bunker Hill has drilled 15 underground drill holes, with the current drill program expected to conclude in December 2024.
• Mineralization intersected by the definition drilling conforms well to the inferred resource and in areas extending beyond the limits of the current resource model.
• Bunker Hill intends to issue an updated resource estimate in Q1 2025, incorporating results from the 2024 drill program.

Article content

KELLOG, Idaho and VANCOUVER, British Columbia, Dec. 17, 2024 (GLOBE NEWSWIRE) — Bunker Hill Mining Corp. (“Bunker Hill” or the “Company”) (TSX-V: BNKR | OTCQB: BHLL) is pleased to announce a high-grade zinc zone in drill hole 7099 which is part of the recently completed underground resource conversion drill program at the Bunker Hill Mine located in Kellogg, Idaho.

The aim of this drill program is to inform an ongoing technical and mine planning program in the upper and de-watered part of the mine, close to existing underground infrastructure, thereby potentially increasing the Life of Mine at restart.

Sam Ash, President and CEO, stated, “Our Geology team continues to be impressed by the drill results, which consistently meet or exceed our initial projections. The mineralized intercepts align well with historical mining records, allowing us to confidently model grade distribution and variability.”

ZINC IS A CRITICAL MINERAL TO THE USA

Zinc is designated by the United States Geological Survey as a critical mineral to the USA, as defined by the US Energy Act of 2022, meaning that it is essential to the economic or national security of the United States. The planned restart of Bunker Hill in H1 2025 and the subsequent planned processing of its zinc concentrate at Teck’s Trail smelter in British Columbia will assist in ensuring this critical mineral supply to the US during increasing geopolitical competition.

Article content

DETAIL

Drill hole 7099 is the down-dip extent of the Quill zone, suggesting that the zinc and silver grades increase lower in the mineral system. Drill hole 7093 is toward the upper extents of the Quill zone, with drill hole 7099 at depth, which shows the increasing grade with depth (Figure 3).

FIGURE 1: RECENTLY COMPLETED
DRILLING

FIGURE 2: DRILL HOLE 7099

FIGURE 3: CORE SAMPLES FROM DRILL HOLE 7099¹

1. intercept from 383.5 – 398.5’

The Company has completed 15 drill holes totaling 5,996 feet (1,828 meters) as part of the 2024 drill program, which was designed to explore a small portion of the Bunker Hill Mine’s 7 million tons inferred mineralization into higher confidence resource categories and the life of mine plan. Consistent zinc-lead-silver grades and intercepts observed throughout the program have bolstered confidence in the potential for resource conversion and expansion at Bunker Hill (Table 1). Given that this modest resource conversion program only targeted approximately 5% of the substantial inferred resource inventory, the results support the Project’s growth potential and underscore its strategic importance to the Company’s future operations.

Article content

Article content

The following table highlights selected intercepts from the Company’s drill program announced today.^1,2,3

The full table of results can be viewed in Appendix A.

TABLE 1: HIGHLIGHT SUMMARY OF 2024 DRILLING

1. Cutoff 2% ZN
2. Minimum width 0.5 feet
3. Samples are sample length and not necessarily the true width of mineralization

FIGURE 4: QUILL RESOURCE OUTLINE WITH HIGHLIGHTS FROM THE DRILLING

QA/QC

The Company has implemented QA/QC procedures, including inserting blank, duplicate, and standard samples in all sample lots sent to Silver Valley Laboratory (SVL) facilities in Kellogg, Idaho for sample preparation and assaying. The analytical methods are microwave Digest and Inductively Coupled Plasma Optical Emission Spectrometry (ICP) and select samples will use Fire Assay with gravimetric finish for silver.

Article content

QUALIFIED PERSON

Mr. Scott Wilson is an independent “qualified person” as defined by NI 43-101 and is acting as the qualified person for the Company. He has reviewed, verified and approved the technical information summarized in this news release, including the sampling, preparation, security and analytical procedures underlying such information, and is not aware of any significant risks and uncertainties that could be expected to affect the reliability or confidence in the information discussed herein.

ABOUT BUNKER HILL MINING CORP.

Under Idaho-based leadership, Bunker Hill intends to sustainably restart and develop the Bunker Hill Mine as the first step in consolidating and then optimizing several mining assets into a high-value portfolio of operations centered initially in North America. Information about the Company is available on its website, www.bunkerhillmining.com, or within the SEDAR+ and EDGAR databases.

On behalf of Bunker Hill Mining Corp.

Sam Ash
President and Chief Executive Officer

For additional information, please contact:

Article content

Brenda Dayton
Vice President, Investor Relations
T: 604.417.7952
E: brenda.dayton@bunkerhillmining.com

Cautionary Statements

Neither the TSX Venture Exchange (the “TSX-V”) nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this news release.

Certain statements in this news release are forward-looking and involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act and Section 21E of the U.S. Securities Exchange Act of 1934, as amended, as well as within the meaning of the phrase ‘forward-looking information’ in the Canadian Securities Administrators’ National Instrument 51-102 – Continuous Disclosure Obligations (collectively, “forward-looking statements”). Forward-looking statements are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, “plan” or variations of such words and phrases.

Article content

Forward-looking statements in this news release include, but are not limited to, statements regarding: the Company’s objectives, goals or future plans, including the restart and development of the Bunker Hill Mine and the expected date thereof; the achievement of future short-term, medium-term and long-term operational strategies; the Company issuing an updated resource estimate in Q1 2024; the results of the drill program supporting the continued development of the Bunker Hill Mine, including the potential increase of the Life of Mine at restart; and Bunker Hill’s role in the supply of zinc to the USA. Forward-looking statements reflect material expectations and assumptions, including, without limitation, expectations and assumptions relating to: Bunker Hill’s ability to receive sufficient project financing for the restart and development of the Bunker Hill Mine on acceptable terms or at all; further drilling and geotechnical work supporting the planned restart and operations at the Bunker Hill Mine; the future price of metals; and the stability of the financial and capital markets. Factors that could cause actual results to differ materially from such forward-looking statements include, but are not limited to, those risks and uncertainties identified in public filings made by Bunker Hill with the U.S. Securities and Exchange Commission (the “SEC”) and with applicable Canadian securities regulatory authorities, and the following: the Company’s ability to operate as a going concern and its history of losses; the Company’s inability to raise additional capital for project activities, including through equity financings, concentrate offtake financings or otherwise; the fluctuating price of commodities; capital market conditions; restrictions on labor and its effects on international travel and supply chains; failure to identify mineral resources; further geotechnical work not supporting the continued development of the Bunker Hill Mine or the results described herein; failure to convert estimated mineral resources to reserves; the preliminary nature of metallurgical test results; the Company’s ability to raise sufficient project financing, on acceptable terms or at all, to restart and develop the Bunker Hill Mine and the risks of not basing a production decision on a feasibility study of mineral reserves demonstrating economic and technical viability, resulting in increased uncertainty due to multiple technical and economic risks of failure which are associated with this production decision including, among others, areas that are analyzed in more detail in a feasibility study, such as applying economic analysis to resources and reserves, more detailed metallurgy and a number of specialized studies in areas such as mining and recovery methods, market analysis, and environmental and community impacts and, as a result, there may be an increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, including increased risks associated with developing a commercially mineable deposit, with no guarantee that production will begin as anticipated or at all or that anticipated production costs will be achieved; the Company requiring additional capital expenditures than anticipated, resulting in delays in the expected restart timeline; failure to commence production would have a material adverse impact on the Company’s ability to generate revenue and cash flow to fund operations; failure to achieve the anticipated production costs would have a material adverse impact on the Company’s cash flow and future profitability; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; political risks; changes in equity markets; uncertainties relating to the availability and costs of financing needed in the future; the inability of the Company to budget and manage its liquidity in light of the failure to obtain additional financing, including the ability of the Company to complete the payments pursuant to the terms of the agreement to acquire the Bunker Hill Mine complex; inflation; changes in exchange rates; fluctuations in commodity prices; delays in the development of projects; and capital, operating and reclamation costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements in this news release are reasonable, undue reliance should not be placed on such statements or information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all, including as to whether or when the Company will achieve its project finance initiatives, or as to the actual size or terms of those financing initiatives, or whether and when the Company will achieve its operational and construction targets. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Article content

Readers are cautioned that the foregoing risks and uncertainties are not exhaustive. Additional information on these and other risk factors that could affect the Company’s operations or financial results are included in the Company’s annual report and may be accessed through the SEDAR+ website (www.sedarplus.ca) or through EDGAR on the SEC website (www.sec.gov).

APPENDIX A – FULL DRILL RESULTS

1. Cutoff 2% ZN
2. Minimum Width 0.5 feet
3. Samples are sample length and not necessarily the true width of mineralization

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/d4d54316-197b-4644-8990-e26161559c27

https://www.globenewswire.com/NewsRoom/AttachmentNg/882de2c7-fed4-4c73-b72c-804c960d809c

https://www.globenewswire.com/NewsRoom/AttachmentNg/54d979c8-88a9-49e3-8ab4-d5c62a2cddb7

https://www.globenewswire.com/NewsRoom/AttachmentNg/a8246690-a933-4e40-8f1b-23c351f4c2e9

Article content

Article content

Reykjavík, Dec. 17, 2024 (GLOBE NEWSWIRE) — THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO. PLEASE SEE THE IMPORTANT NOTICES SECTION WITHIN THIS ANNOUNCEMENT.

Article content

Article content

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY, AND DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY SECURITIES OF AMAROQ MINERALS LTD.

Article content

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION NO 596/2014, WHICH IS PART OF ICELANDIC LAW BY VIRTUE OF THE ACT NO 60/2021 ON MEASURES AGAINST MARKET ABUSE AND ASSIMILATED REGULATION NO 596/ 2014 AS IT FORMS PART OF THE LAW OF THE UNITED KINGDOM BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED.  ON PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

Amaroq Minerals Ltd.

(“Amaroq” or the “Company”)

Closing of Fundraising and Admission

TORONTO, ONTARIO – 17 December 2024 – Amaroq Minerals Ltd. (AIM, TSX-V, NASDAQ Iceland: AMRQ), an independent mining company with a substantial land package of gold and strategic mineral assets in Southern Greenland, today announces further to its announcements on 3 and 4 December 2024, the closing of its fundraising pursuant to which it raised gross proceeds of approximately £27.5 million (C$49.0 million, ISK 4.8 billion) through a placing of 9,150,927 common shares of the Company pursuant to the UK Placing, 20,100,648 common shares of the Company pursuant to the Icelandic Placing, and 2,783,089 common shares of the Company pursuant to the Canadian Subscription, which have been issued and will be admitted to trading on AIM, Nasdaq Iceland’s main market, and the TSX-V. A total of 32,034,664 new common shares have been placed as part of the Fundraising.

Article content

Following admission, Amaroq’s total issued share capital will consist of 397,694,407 common shares of no par value. Given the Company does not hold any common shares in Treasury, this figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in interest in, the share capital of the Company under the Disclosure Guidance and Transparency Rules and the Icelandic Act No 20/2021 on Disclosure Obligations of Issuers and Notifications on Major Holdings.

The Fundraising Shares will be subject to statutory resale (hold) restrictions for a period of four months and one day in Canada under the applicable Canadian securities laws, which will expire on 18 April 2025. Such restrictions shall not apply to any Fundraising Shares acquired outside of Canada.

Net proceeds from the Fundraising will be used to strengthen the Company’s working capital position whilst Nalunaq is in commissioning phase and accelerate growth opportunities within the Company’s portfolio of assets in Greenland in Greenland. More specifically, the net proceeds from the Fundraising will be to fund further resource drilling at Nalunaq to expand resource and provide mining flexibility, further exploration drilling at Nanoq to define resource potential and the development opportunity, investments in mining equipment, other facilities and green energy production to further optimise operations in Nalunaq, and advancement of the Company’s strategic portfolio, alongside JV partners with further target exploration, and to provide additional working capital.

Article content

Article content

Amaroq director, Eldur Olafsson, has participated in the Canadian Subscription, acquiring a total of 582,690 new common shares representing gross proceeds of approximately £0.50 million (C$0.89 million, ISK 88.2 million) via Vatnar hf.. Following Admission, Eldur Olafsson will be interested in a total of 10,084,863 common shares in the capital of the Company, representing approximately 2.5 per cent. of the Company’s enlarged issued share capital.

Amaroq director, Sigurbjorn Thorkelsson, has also participated in the Canadian Subscription, acquiring a total of 1,165,382 new common shares representing gross proceeds of approximately £1.00 million (C$1.78 million, ISK 176.4 million) via Klettar fjarfestingar ehf.. Following Admission, Sigurbjorn Thorkelsson will be interested in a total of 12,037,640 common shares in the capital of the Company, representing approximately 3.0 per cent. of the Company’s enlarged issued share capital.

Amaroq director, David Neuhauser, has also participated in the Canadian Subscription, acquiring a total of 116,538 new common shares representing gross proceeds of approximately £0.10 million (C$0.18 million, ISK 17.6 million) via Livermore Strategic Opportunities LP. Following Admission, David Neuhauser will be interested in a total of 14,738,462 common shares in the capital of the Company, representing approximately 3.7 per cent. of the Company’s enlarged issued share capital.

Article content

As such, the Canadian Subscriptions will constitute a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”) and within the meaning of Policy 5.9 of the TSX-V rules.

Related party transactions require the Company to obtain a formal valuation and minority shareholder approval unless exemptions from these requirements are available under applicable Canadian securities laws. With respect to the Canadian Subscription, the Company is relying on the exemption from the formal valuation requirements and minority approval requirements in sections 5.5(a) and 5.7(1)(a), respectively, of MI 61-101, as the fair market value of the securities distributed to, and the consideration received from, interested parties does not exceed 25% of the Company’s market capitalization. The Company did not file a material change report at least 21 days prior to the closing of the Canadian Subscription as participation of the insiders had not been confirmed at that time and the Company wishes to close on an expedited basis for business reasons.

Article content

Panmure Liberum acted as nominated adviser, joint bookrunner and joint broker, alongside Canaccord, who also acted as joint bookrunner and joint broker on the UK Placing. Landsbankinn, Acro and Fossar acted as joint bookrunners on the Icelandic Placing and Landsbankinn acted as underwriter. In consideration for their services, Panmure Liberum, Canaccord, Landsbankinn, Acro and Fossar received a cash commission equal to C$1,857,555.23, consisting of (i) a total of C$274,003.23 (£154,098.88) to Panmure Liberum and Canaccord representing a 4.0% base commission, 1.0% discretionary commission and a 0.25% settlement commission for the UK placing, including a corporate finance fee of C$124,467.00 (£70,000.00) payable to Panmure Liberum and (ii) a total of C$1,049,841.00 to Landsbankinn, Acro and Fossar, representing a total of 3.4% commission for the Icelandic Placing, in addition to a C$533,711.00 underwriting fee payable to Landsbankinn.

The Fundraising is subject to final acceptance of the TSX-V.

Capitalised terms not otherwise defined in the text of this announcement have the meanings given in the Company’s Fundraising announcement dated 3 December 2024.

Article content

Enquiries:

Amaroq Minerals Ltd.        
Eldur Olafsson, Executive Director and CEO
eo@amaroqminerals.com

Eddie Wyvill, Corporate Development
+44 (0)7713 126727
ew@amaroqminerals.com

Panmure Liberum Limited (Nominated Adviser, Joint Bookrunner and Corporate Broker)
Scott Mathieson
Nikhil Varghese
Kieron Hodgson
Josh Moss
+44 (0) 20 7886 2500

Canaccord Genuity Limited (Joint Bookrunner and Corporate Broker)
James Asensio
Harry Rees
George Grainger
+44 (0) 20 7523 8000

Landsbankinn hf. (Joint Bookrunner and Underwriter)
Björn Hákonarson
Sigurður Kári Tryggvason
+354 410 4000

Acro verðbréf hf. (Joint Bookrunner)
Hannes Árdal
Þorbjörn Atli Sveinsson
+354 532 8000

Fossar Investment Bank hf. (Joint Bookrunner)
Steingrímur Arnar Finnsson
Kristín Alexandra Gísladóttir
+354 522 4000

Camarco (Financial PR)
Billy Clegg
Elfie Kent
Fergus Young
+44 (0) 20 3757 4980

IMPORTANT NOTICES

This Announcement does not constitute, or form part of, a prospectus relating to the Company, nor does it constitute or contain an invitation or offer to any person, or any public offer, to subscribe for, purchase or otherwise acquire any shares in the Company or advise persons to do so in any jurisdiction, nor shall it, or any part of it form the basis of or be relied on in connection with any contract or as an inducement to enter into any contract or commitment with the Company.

Article content

This Announcement is not for publication or distribution, directly or indirectly, in or into the United States of America, Australia, The Republic of South Africa (“South Africa”), Japan or any other jurisdiction in which such release, publication or distribution would be unlawful. This Announcement is for information purposes only and does not constitute an offer to sell or issue, or a solicitation of an offer to buy, subscribe for or otherwise acquire any securities in the United States (including its territories and possessions, any state of the United States and the District of Columbia (collectively, the “United States”)), Iceland, Australia, Canada, South Africa, Japan or any other jurisdiction in which such offer or solicitation would be unlawful or to any person to whom it is unlawful to make such offer or solicitation.

The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States, except pursuant to an applicable exemption from the registration requirements of the Securities Act and in compliance with any applicable securities laws of any state or other jurisdiction of the United States, or under the securities laws of Iceland, Australia, Canada, South Africa, Japan, or any state, province or territory thereof or any other jurisdiction outside the United Kingdom, except pursuant to an applicable exemption from the registration requirements and in compliance with any applicable securities laws of any state, province or other jurisdiction of Iceland, Australia, Canada, South Africa or Japan (as the case may be). No public offering of securities is being made in the United States, Iceland, Australia, Canada, South Africa, Japan or elsewhere.

Article content

No action has been taken by the Company, Panmure Liberum, Canaccord, Landsbankinn, Acro, Fossar or any of their respective affiliates, or any of its or their respective directors, officers, partners, employees, consultants, advisers and/or agents (collectively, “Representatives”) that would permit an offer of the Fundraising Shares or possession or distribution of this Announcement or any other publicity material relating to such Fundraising Shares in any jurisdiction where action for that purpose is required. Persons receiving this Announcement are required to inform themselves about and to observe any restrictions contained in this Announcement. Persons (including, without limitation, nominees and trustees) who have a contractual or other legal obligation to forward a copy of this Announcement should seek appropriate advice before taking any action. Persons distributing any part of this Announcement must satisfy themselves that it is lawful to do so.

This Announcement, as it relates to the UK Placing, is directed at and is only being distributed to: (a) if in a member state of the EEA, persons who are qualified investors (“EEA Qualified Investors”), being persons falling within the meaning of Article 2(e) of Regulation (EU) 2017/1129 (the “EU Prospectus Regulation”); or (b) if in the United Kingdom, persons who are qualified investors (“UK Qualified Investors”), being persons falling within the meaning of Article 2(e) of assimilated Regulation (EU) 2017/1129 as it forms part of the law of the United Kingdom by virtue of the European Union (Withdrawal) Act 2018, as amended (the “UK Prospectus Regulation”), and who are (i) persons falling within the definition of “investment professional” in Article 19(5) of the Financial Services And Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”) or (ii) persons who fall within Article 49(2)(a) to (d) (high net worth companies, unincorporated associations, etc.) of the Order, or (c) persons to whom it may otherwise be lawfully communicated (all such persons referred to in (a), (b) and (c) together being referred to as “Relevant Persons”).

Article content

The Fundraising Shares have not been qualified for distribution by prospectus in Canada and may not be offered or sold in Canada except in reliance on exemptions from the requirements to provide the relevant purchaser with a prospectus and, as a consequence of acquiring securities pursuant to this exemption or exemptions, certain protections, rights and remedies provided by the applicable Canadian securities laws will not be available to the relevant purchaser. The Fundraising Shares will be subject to statutory resale (hold) restrictions for a period of four months and one day in Canada under the applicable Canadian securities laws and any resale of the Common Shares must be made in accordance with such resale restrictions or in reliance on an available exemption therefore. Such restrictions shall not apply to any Fundraising Shares acquired outside of Canada.

For the attention of residents of Australia: This Announcement is not a prospectus or product disclosure statement or otherwise a disclosure document for the purposes of Chapter 6D or Part 7.9 of the Australian Corporations Act 2001 (Cth) (“Corporations Act”) and does not constitute an offer, or an invitation to purchase or subscribe for the Fundraising Shares offered by this Announcement except to the extent that such an offer or invitation would be permitted under Chapter 6D or Part 7.9 of the Corporations Act without the need for a lodged prospectus or product disclosure statement. In addition, for a period of 12 months from the date of issue of the Fundraising Shares, no transfer of any interest in the Fundraising Shares may be made to any person in Australia except to “sophisticated investors” or “professional investors” within the meaning of sections 708(8) and (11) of the Corporations Act or otherwise in accordance with section 707(3) of the Corporations Act.

Article content

No other person should act on or rely on this Announcement as it relates to the UK Placing and persons distributing this Announcement must satisfy themselves that it is lawful to do so. By accepting the terms of this Announcement, you represent and agree that you are a Relevant Person. This Announcement must not be acted on or relied on by persons who are not Relevant Persons. Any investment or investment activity to which this Announcement or the Fundraising relates is available only to Relevant Persons and will be engaged in only with Relevant Persons.

No offering document or prospectus will be made available in any jurisdiction in connection with the matters contained or referred to in this Announcement or the UK Placing or the Fundraising, unless applicable in relation to admission to trading in Iceland and no such prospectus is required (in accordance with either the EU Prospectus Regulation for the purpose of the offer or sale of the Common Shares, the UK Prospectus Regulation or Canadian securities laws) to be published. The offering as it relates to the Icelandic Placing is subject to the exemptions from the obligation to publish a prospectus provided for in Articles 1(4)(a) and 1(4)(b) of the EU Prospectus Regulation.

Article content

Panmure Liberum, which is authorised and regulated by the Financial Conduct Authority in the United Kingdom is acting exclusively for the Company and for no one else in connection with the UK Placing and will not regard any other person (whether or not a recipient of this Announcement) as a client in relation to the UK Placing and will not be responsible to anyone other than the Company in connection with the UK Placing or for providing the protections afforded to their clients or for giving advice in relation to the UK Placing, the Fundraising or any other matter referred to in this Announcement. The responsibilities of Panmure Liberum, as nominated adviser, are owed solely to the London Stock Exchange and are not owed to the Company or to any director or any other person and accordingly no duty of care is accepted in relation to them. No representation or warranty, express or implied, is made by Panmure Liberum as to, and no liability whatsoever is accepted by Panmure Liberum in respect of, any of the contents of this Announcement (without limiting the statutory rights of any person to whom this Announcement is issued).

Article content

Canaccord, which is authorised and regulated by the Financial Conduct Authority in the United Kingdom is acting exclusively for the Company and for no one else in connection with the UK Placing and will not regard any other person (whether or not a recipient of this Announcement) as a client in relation to the UK Placing and will not be responsible to anyone other than the Company in connection with the UK Placing or for providing the protections afforded to their clients or for giving advice in relation to the UK Placing, the Fundraising or any other matter referred to in this Announcement.

Acro, which is authorised and regulated by the Financial Supervisory Authority of the Central Bank of Iceland, is acting exclusively for the Company and for no one else in connection with the Icelandic Placing and will not regard any other person (whether or not a recipient of this Announcement) as a client in relation to the Icelandic Placing and will not be responsible to anyone other than the Company in connection with the Icelandic Placing or for providing the protections afforded to their clients or for giving advice in relation to the Icelandic Placing, the Fundraising or any other matter referred to in this Announcement. Some Icelandic Placees may however be customers of Acro.

Article content

Fossar, which is authorised and regulated by the Financial Supervisory Authority of the Central Bank of Iceland, is acting exclusively for the Company and for no one else in connection with the Icelandic Placing and will not regard any other person (whether or not a recipient of this Announcement) as a client in relation to the Icelandic Placing and will not be responsible to anyone other than the Company in connection with the Icelandic Placing or for providing the protections afforded to their clients or for giving advice in relation to the Icelandic Placing, the Fundraising or any other matter referred to in this Announcement. Some Icelandic Placees may however be customers of Fossar.

Landsbankinn, which is authorised and regulated by the Financial Supervisory Authority of the Central Bank of Iceland, is acting exclusively for the Company and for no one else in connection with the Icelandic Placing and will not regard any other person (whether or not a recipient of this Announcement) as a client in relation to the Icelandic Placing and will not be responsible to anyone other than the Company in connection with the Icelandic Placing or for providing the protections afforded to their clients or for giving advice in relation to the Icelandic Placing, the Fundraising or any other matter referred to in this Announcement. Some Icelandic Placees may however be customers of Landsbankinn.

Article content

This Announcement is being issued by and is the sole responsibility of the Company. No representation or warranty, express or implied, is or will be made as to, or in relation to, and no responsibility or liability is or will be accepted by or on behalf of Panmure Liberum, Canaccord, Landsbankinn, Acro and/or Fossar (apart from in the case of Panmure Liberum and Canaccord the responsibilities or liabilities that may be imposed by the Financial Services and Markets Act 2000, as amended (“FSMA”) or the regulatory regime established thereunder) and/or by any of their respective affiliates and/or any of their respective Representatives as to, or in relation to, the accuracy, adequacy, fairness or completeness of this Announcement or any other written or oral information made available to or publicly available to any interested party or their respective advisers or any other statement made or purported to be made by or on behalf of Panmure Liberum, Canaccord, Landsbankinn, Acro and/or Fossar and/or any of their respective affiliates and/or by any of their respective Representatives in connection with the Company, the UK Placing Shares, the UK Placing, the Common Shares or any part of the Fundraising and any responsibility and liability whether arising in tort, contract or otherwise therefor is expressly disclaimed. No representation or warranty, express or implied, is made by Panmure Liberum, Canaccord, Landsbankinn, Acro and/or Fossar and/or any of their respective affiliates and/or any of their respective Representatives as to the accuracy, fairness, verification, completeness or sufficiency of the information or opinions contained in this Announcement or any other written or oral information made available to or publicly available to any interested party or their respective advisers, and any liability therefor is expressly disclaimed.

Article content

The information in this Announcement may not be forwarded or distributed to any other person and may not be reproduced in any manner whatsoever. Any forwarding, distribution, reproduction or disclosure of this Announcement, in whole or in part, is not authorised. Failure to comply with this directive may result in a violation of the Securities Act or the applicable laws of other jurisdictions.

This Announcement does not constitute a recommendation concerning any investor’s options with respect to the UK Placing or any part of the Fundraising. Recipients of this Announcement should conduct their own investigation, evaluation and analysis of the business, data and other information described in this Announcement. This Announcement does not identify or suggest, or purport to identify or suggest, the risks (direct or indirect) that may be associated with an investment in the UK Placing Shares or the Common Shares. The price and value of securities can go down as well as up and investors may not get back the full amount invested upon the disposal of the shares. Past performance is not a guide to future performance. The contents of this Announcement are not to be construed as legal, business, financial or tax advice. Each investor or prospective investor should consult his or her or its own legal adviser, business adviser, financial adviser or tax adviser for legal, business, financial or tax advice.

Article content

Any indication in this Announcement of the price at which the Company’s shares have been bought or sold in the past cannot be relied upon as a guide to future performance. Persons needing advice should consult an independent financial adviser. No statement in this Announcement is intended to be a profit forecast or profit estimate for any period and no statement in this Announcement should be interpreted to mean that earnings, earnings per share or income, cash flow from operations or free cash flow for the Company for the current or future financial periods would necessarily match or exceed the historical published earnings, earnings per share or income, cash flow from operations or free cash flow for the Company.

All offers of the Fundraising Shares will be made pursuant to an exemption under the EU Prospectus Regulation and the UK Prospectus Regulation from the requirement to produce a prospectus. This Announcement is being distributed and communicated to persons in the United Kingdom only in circumstances in which section 21(1) of FSMA does not apply.

The Fundraising Shares to be issued pursuant to the Fundraising will not be admitted to trading on any stock exchange other than AIM, the TSX-V and the Icelandic Exchange.

Article content

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Information

This Announcement includes statements that are, or may be deemed to be, “forward-looking statements”. In some cases, these forward-looking statements can be identified by the use of forward-looking terminology, including the terms “aims”, “anticipates”, “believes”, “could”, “envisages”, “estimates”, “expects”, “intends”, “may”, “plans”, “projects”, “should”, “targets” or “will” or, in each case, their negative or other variations or comparable terminology. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future and factors which are beyond the Company’s control. The actual results, performance or achievements of the Company or developments in the industry in which the Company operates may differ materially from the future results, performance or achievements or industry developments expressed or implied by the forward-looking statements contained in this Announcement. The forward-looking statements contained in this Announcement speak only as at the date of this Announcement. The Company undertakes no obligation to update or revise publicly the forward-looking statements contained in this Announcement, except as required in order to comply with its legal and regulatory obligations.

Article content