The Ghana Chamber of Mines has sent words of congratulations to the newly elected President of the Burkina Faso Chamber of Mines, Mr. Adama Soro.
Commenting on Mr. Soro’s assumption of office, President of the Ghana Chamber of Mines, Mr. Eric Asubonteng said “accept my warm congratulations as you take up the responsibilities of the office of President of the Burkina Faso Chamber of Mines.
“We at the Ghana Chamber of Mines look forward to working with you to promote sustainable and responsible mining in ECOWAS Federation of Chamber of Mines and Africa at large.”
Be rest assured, as you take up this responsibility, of the Ghana Chamber of Mines and its members’ continued friendship and support throughout your tenure in office.
I look forward to working with you in promoting environmentally and socially responsible mining for the mutual benefit of our organisations, host communities, States, and the sub-region.
The Executive Director of ECOWAS Federation of Chamber of Mines (EFEDCOM), who is also the CEO of the Ghana Chamber of Mines, Mr. Sulemanu Koney, on his part stated that “we are excited to work with you at EFEDCOM to promote our industry in the sub-region. We congratulate you on taking up this role and wish you very best in executing your responsibilities.”
Profile of Adama Soro
Adama Soro is the Vice-President in charge of Public Affairs of Endeavour Mining, a mining group in Burkina Faso. Endeavour Mining is one of the largest producers in the world with seven (7) mines in operation, five (5) mines in Burkina Faso: Houndé, Mana, Boungou, Karma and Wahgnion. Exclusively based in West Africa, Endeavour Mining is the leading gold producer in West Africa, employing approximately 6,500 employees throughout the group.
Mr. Soro has built his career in promoting the private sector in general and mining. He holds a University Diploma in Scientific Education (DUES) specialising in Special and Higher Mathematics, a Master’s degree in Business Administration and Management Sciences and a certification in Global Learning Initiative for International Trade.
He has also taken several training courses in the mining sector, deposit management and economic evaluation at Queen’s University in Kingston, Canada, and in Corporate Social Responsibility (CSR) with the International Development Institute in collaboration with McGill University of Canada. He has also been a temporary CSR teacher at some universities in Burkina Faso.
Mr. Soro worked for 18 years in the development of international affairs with French and Canadian diplomatic and cooperation services, international trade, and extractive sector management. He has participated in several national and regional initiatives as Trade Commissioner at the Canadian Embassy in Burkina Faso — where he facilitated the licensing process for many Canadian mining companies — the signing of the first Foreign Investment Promotion and Protection Agreement – FIPA in 2015, between Burkina Faso and Canada.
Between October 2015 and December 2017, he held the position of Superintendent of Corporate Affairs of the Essakane Mine of the IAMGOLD group. Since 2016, He has been a member of the Board of Directors of the Chamber of Mines, and Chairman of the CSR and Communication Committee.
He began a new professional career with the Endeavour Mining Group as Country Director for Burkina Faso in January 2018. In this , he was promoted to Vice-President of Public Affairs of Endeavour Mining for Burkina Faso in January 2021, a guarantee of the confidence that the Group, doubly listed on the London and Toronto Stock Exchange, places in him in Defence of his interests in Burkina Faso.
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(Reuters) – Futures for Canada’s main stock index inched lower on Wednesday, ahead of inflation data due later in the day and amid downbeat global mood on concerns over economic growth and rising consumer prices.
June futures on the S&P/TSX index were down 0.1% at 7:00 a.m. ET.
Canada’s inflation data is scheduled for release at 08:30 a.m. ET. Consumer prices likely rose 0.5% in April, after increasing 1.4% a month earlier, according to Refinitiv data.
The Toronto Stock Exchange’s S&P/TSX composite index ended 1.41% higher at 20,491.01 on Tuesday. [.TO]
Dow e-minis were down 91 points, or 0.28%, at 6:59 a.m. ET, while S&P 500 e-minis were down 18.5 points, or 0.45%, and Nasdaq 100 e-minis were down 88.5 points, or 0.7%. [.N]
TOP STORIES [TOP/CAN]
Canada could add over a million barrels per day (bpd) of oil export capacity to the United States over the next two years, Alberta Premier Jason Kenney told a U.S. Senate committee on Tuesday, while also calling for a new cross-border oil pipeline.
ANALYST RESEARCH HIGHLIGHTS [RCH/CA]
Capreit: CIBC cuts target price to C$60 from C$63
Hudbay Minerals Inc: CIBC cuts target price to C$11.50 from C$14
Questor Technology: Atb Capital Markets raises to “sector perform” from “underperform”
COMMODITIES AT 7:00 a.m. ET
Gold futures: $1817.7; -0.08% [GOL/]
US crude: $114.11; +1.64% [O/R]
Brent crude: $113.24; +1.19% [O/R]
U.S. ECONOMIC DATA DUE ON WEDNESDAY
0830 Building permits: number for Apr : Expected 1.812 mln; Prior 1.870 mln
0830 Build permits: change mm for Apr : Prior 0.3%
0830 Housing starts number for Apr : Expected 1.765 mln; Prior 1.793 mln
0830 House starts mm: change for Apr : Prior 0.3%
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report [.TO]
Canadian dollar and bonds report [CAD/] [CA/]
Reuters global stocks poll for Canada
Canadian markets directory
($1= C$1.28)
(Reporting by Amal S in Bengaluru; Editing by Vinay Dwivedi)
Ahead of expectation well test results, with additional zones identified
Author of the article:
Calgary, Alberta–(Newsfile Corp. – May 18, 2022) – Arrow Exploration Corp. (AIM: AXL) (TSXV: AXL) (“Arrow” or the “Company“) is delighted to announce the results of the Rio Cravo Este-2 (“RCE-2“) well testing on the Tapir Block in the Llanos Basin of Colombia.
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The RCE-2 well was spud on April 2, 2022. RCE-2 targeted a large, three-way fault bounded structure with multiple high-quality reservoir objectives on the Tapir Block in the Llanos Basin of Colombia. The well was drilled to a total measured depth of 9,600 feet and encountered six hydrocarbon bearing intervals totaling 90 net feet of oil pay.
Specific production test rates for the isolated zones (shallowest to deepest) include:
Test results are not necessarily indicative of long-term performance or ultimate recovery.
Marshall Abbott, CEO of Arrow commented:
“We’re encouraged by the material results of RCE-2, the second well on the Tapir block. RCE-2 identified new zones for further exploitation with flowing results returning better than expected.”
“We’re currently completing the C7 zone, targeting to be on stream early next week. This effectively doubles Arrow’s production. The Company’s procedures will be to bring RCE-2 on slowly and increase production to best manage the oil reservoir.”
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“We are now moving the rig to our next well location, the RCS-1 well, which is expected to spud before the end of May. Arrow’s current production exceeds 1,000 boe/d, producing positive cashflow for the Company during a high commodity price environment. This is an exciting time for Arrow, and we look forward to providing further updates on our progress.”
The RCE-2 well costs came in line with the budget.
Continued strong production rates from existing tied-in wells combined with the encouraging results from new drills in Columbia support the Company’s objective of achieving a production rate of 3,000 boe/d within 18 months of its AIM listing (completed in October 2021).
For further Information, contact:
Arrow Exploration
Marshall Abbott, CEO +1 403 651 5995
Joe McFarlane, CFO +1 403 818 1033
Brookline Public Relations, Inc.
Shauna MacDonald +1 403 538 5645
Canaccord Genuity (Nominated Advisor and Joint Broker)
Henry Fitzgerald-O’Connor +44 (0)20 7523 8000
James Asensio
Gordon Hamilton
Auctus Advisors (Joint Broker)
Jonathan Wright (Corporate) +44 (0)7711 627449
Rupert Holdsworth Hunt (Broking)
Camarco (Financial PR)
James Crothers +44 (0)20 3781 8331
Rebecca Waterworth
Billy Clegg
About Arrow Exploration Corp.
Arrow Exploration Corp. (operating in Colombia via a branch of its 100% owned subsidiary Carrao Energy S.A.) is a publicly traded company with a portfolio of premier Colombian oil assets that are underexploited, under-explored and offer high potential growth. The Company’s business plan is to expand oil production from some of Colombia’s most active basins, including the Llanos, Middle Magdalena Valley (MMV) and Putumayo Basin. The asset base is predominantly operated with high working interests, and the Brent-linked light oil pricing exposure combines with low royalties to yield attractive potential operating margins. Arrow’s 50% interest in the Tapir Block is contingent on the assignment by Ecopetrol SA of such interest to Arrow. Arrow’s seasoned team is led by a hands-on executive team supported by an experienced board. Arrow is listed on the AIM market of the London Stock Exchange and on TSX Venture Exchange under the symbol “AXL”.
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Forward-looking Statements
This news release contains certain statements or disclosures relating to Arrow that are based on the expectations of its management as well as assumptions made by and information currently available to Arrow which may constitute forward-looking statements or information (“forward-looking statements”) under applicable securities laws. All such statements and disclosures, other than those of historical fact, which address activities, events, outcomes, results or developments that Arrow anticipates or expects may, could or will occur in the future (in whole or in part) should be considered forward-looking statements. In some cases, forward-looking statements can be identified by the use of the words “continue”, “expect”, “opportunity”, “plan”, “potential” and “will” and similar expressions. The forward-looking statements contained in this news release reflect several material factors and expectations and assumptions of Arrow, including without limitation, Arrow’s evaluation of the impacts of COVID-19, the potential of Arrow’s Colombian and/or Canadian assets (or any of them individually), the prices of oil and/or natural gas, and Arrow’s business plan to expand oil and gas production and achieve attractive potential operating margins. Arrow believes the expectations and assumptions reflected in the forward-looking statements are reasonable at this time, but no assurance can be given that these factors, expectations, and assumptions will prove to be correct.
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The forward-looking statements included in this news release are not guarantees of future performance and should not be unduly relied upon. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof and the Company undertakes no obligations to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
Glossary
API: A specific gravity scale developed by the American Petroleum Institute (API) for measuring the relative density of various petroleum liquids, expressed in degrees.
Bopd: barrels of oil per day
boe/d: barrels of oil equivalent per day
Qualified Person’s Statement
The technical information contained in this announcement has been reviewed and approved by Grant Carnie, senior non-executive director of Arrow Exploration Corp. Mr. Carnie is a member of the Canadian Society of Petroleum Engineers, holds a B.Sc. in Geology from the University of Alberta and has over 35 years’ experience in the oil and gas industry.
This Announcement contains inside information for the purposes of the UK version of the market abuse regulation (EU No. 596/2014) as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018 (“UK MAR“).
NOT FOR RELEASE, DISTRIBUTION, PUBLICATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/124452
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Chilean resource developer Hot Chili has tabled a mineral resource upgrade with Canadian regulators for its exciting Costa Fuego copper gold discovery, at the same time the Chilean Congress watered down the possibility of constitutional change that spooked the local mining industry and could have impacted the development of Hot Chili’s world-class copper gold Costa Fuego project.
In February, Chile’s constituent assembly started thrashing out proposals for a new Constitution to replace the current market-focused one – proposals that included plans to nationalise mining and an expansion of environmental governance.
The raft of motions, led by environmental activists and others from the political left who were elected in the wake of protests that began in October 2019 over inequality has been causing some consternation in the world’s leading copper producer. After going to a vote, the proposals to overhaul the resource sector failed the reach the required two thirds majority in a final vote on Saturday. The result provides some immediate relief for local operators, including Hot Chili however it’s true – that battle is far from over.
Saturday’s vote does seem to confirm the draft constitution will lack a clear mandate for mining rights, however it also leaves legislation more vulnerable to changes in the future. That said, Hot Chili’s Managing Director Christian Easterday, says the political winds are blowing favourably in its direction.
We are very pleased with the recent news that the Chilean constitutional process has ended with virtually all proposals for radical change to the mining sector being rejected. Chile is one of the premier mining jurisdictions of the world and this latest news confirms that is not about to change anytime soon.
Chile is a leader in the global supply or critical future facing metals such as copper and lithium. Hot Chili and a raft of major developers are now able to advance with certainty in relation to mining regulation in Chile – a great outcome for the world’s push towards a decarbonised future.
The news is positive for Hot Chili that augmented its ASX listing with a C$30 million raise on the Toronto Stock Exchange listing in January this year as its fast tracks plans at Costa Fuego.
Looking ahead and perhaps of vital concern to the considerations being mulled over in the halls of Government in Chile, Managing Director Christian Easterday tipped the project to generate revenues around US$1 billion per year from producing around 100,000 tonnes per annum copper concentrate and 70,000 to 80,000 ounces of gold a year with a 20–30-year mine life.
With Costa Feugo’s capex tipped to be US$1.5 billion, Easterday said the revenue of US$1b per year was a very good return on investment.
The company is aiming to be in production within five years – a timetable Easterday is very comfortable with given its low altitude and proximity to port and export facilities.
Earlier this month Hot Chili upgraded the mineral resource estimate by an impressive 67 per cent to 725 million tonnes grading at 0.47 per cent copper equivalent for 2.8 million tonnes of contained copper and 2.6 million ounces of gold.
There are 80-90 employees currently on the Hot Chili payroll in the current exploration and development drilling phase, with a construction workforce forecast in excess of 2000. When mining operations commenced management said there would be a fulltime labour force of around 400.
Easterday is also supported by having one of the world’s largest copper traders, Glencore, as both a shareholder and as an offtake buyer. Notably, Glencore was only able to put its foot on 60 per cent of the Costa Fuego product leaving Hot Chili free to trade the balance for upside on the copper spot market. “You don’t often see deals like this,” he said.
Given the history of its exploration results, Hot Chili appears to be sitting on a couple of world class deposits. This fact, supported by the company having global gorilla Glencore on its register may combine to prove too compelling even for the vagaries of South American politics to deny…..watch this space.
Is your ASX-listed company doing something interesting? Contact: matt.birney@wanews.com.au
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Toronto, Ontario–(Newsfile Corp. – May 17, 2022) – Minnova Corp. (TSXV: MCI) (OTC Pink: AGRDF) (“Minnova” or the “Company”), is an evolving resource development company with an exciting green hydrogen and cleantech innovation strategy to compliment our development-stage PL Gold Mine restart plan.
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A New Green Energy Transition Vision
The adoption of Net Zero 2050 CO2 reduction commitments by Canada and many other countries has signaled a modern era green energy transition. As a result, green or renewable energy alternatives, to replace / reduce fossil fuel energy, are growing rapidly. In addition to CO2 reduction initiatives, recent geopolitical events have highlighted the need for energy security and in particular green energy security. These events are forecast to result in a fundamental change in the future production and consumption of energy. Our strategy is to position Minnova as a green energy industry leader through development of biomass gasification related technologies.
The first step in our green energy strategy was the announcement of the intent to acquire a proprietary biomass gasification technology (see Press Release 2021-12-13_NR.pdf (minnovacorp.ca)). Since then, Minnova has rapidly advanced our strategy for Minnova Renewable Energy based on discussions with industry (producers, equipment suppliers and consumers), policy makers and investors.
The next significant milestone is site selection for future commercial development. We are pleased to announce that the first site for a biomass gasification demonstration unit will be Swan River, Manitoba. Following detailed analysis and discussions we have arranged for initial feedstock supply and a well-located site to develop a demonstration unit. Key selection criteria included, abundant supply of sustainable forest and agricultural biomass residues, existing infrastructure that will facilitate rapid development and future expansion, an existing natural gas pipeline for possible injection and finally a supportive local community. On that point we have received a formal support letter and endorsement from the Swan River Council who commented “we are confident that the abundant forest and agricultural biomass supply and other development considerations, including; competitive utilities, skilled labor force and the availability of pro-business fiscal incentives and regulations that our region is uniquely positioned to support the Project to fruition.”
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The demonstration unit will be design and built on a mobile platform for future marketing of our technology with on-site small-scale production. The demonstration unit will operate for up to 6 months and produce a marketable syngas rich in hydrogen (>50%). The syngas will be marketed as is and be purified to upgrade it to a pure hydrogen product. It is anticipated that multiple feedstocks will be tested to refine and confirm syngas quality and yield and enhance the gasification unit design in preparation for a Phase 1 commercial scale operation targeting initial production of up to 1.4 mln kg of pure Hydrogen per year. Following the completion of the demonstration unit it can be relocated to other sites in Canada and the United States with abundant sustainable biomass supply to demonstrate our technology’s ability to replace or reduce existing fossil fuel use with green hydrogen.
Minnova Renewable Energy also continues to advance its strategy internationally. Site selection initiatives are ongoing in other jurisdictions with abundant biomass residues and favourable green energy market support. Engagement with potential feedstock suppliers in Costa Rica and Romania has been well received and biomass gasification test work in underway to collect required data to incorporate into future commercial plant design. Both locations represent excellent targets for large scale, sustainable green hydrogen and/or green ammonia production with significant local industrial demand and access to North American and European markets.
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Commitment to the Restart of the PL Gold Mine
We remain committed to the restart of the PL Gold Mine. The positive 2017 Feasibility Study confirmed the projects robust economics in support of a restart of operations. It also highlighted the projects significant gold price leverage (see Press Release https://minnovacorp.ca/MCI-Corporate-Update-July-30-2020-FINAL.pdf). Follow-on drilling programs demonstrated;
Achieving so many project milestones, supports management’s positive view for the future restart potential of the PL Gold Mine. However, current gold price volatility and lack luster investor interest in small cap gold exploration and development companies has been a challenge to adequately fund the projects development. Our development strategy for PL remains unchanged and we will continue to actively solicit M+A (JV, outright sale, or other restructuring options) in parallel with project financing initiatives.
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PL is an attractive near-term gold production opportunity, located in a low-risk jurisdiction. Considering current high inflation and heightened geopolitical tensions there is a generally positive outlook for higher future gold price. With this in mind we strongly believe PL represents significant value and are committed to unlocking is value through restart or a transaction that maximizes current and future value for Minnova shareholders.
To summarize, the core tenants of our Strategic Plan are:
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Our Strategic Plan is intended to enhance leverage to gold price and our exposure to the green energy transition. We believe that both the PL Gold Mine and Minnova Renewable Energy strategy (green hydrogen / cleantech portfolio) will broaden investor interest, beyond our current shareholder base, improve access to capital and better reflect current and future market trends.
Gord Glenn, President & CEO commented “We are pleased with the rapid pace of Minnova Renewable Energy’s efforts to advance commercial development of biomass gasification in Canada and internationally. Response to our green energy transition vision has been extremely positive and with the announcement of our first demonstration unit, to be located in Swan River, we believe we are in a strong position to successfully transition to commercial production on a relatively short timeline. Our strategy contemplates a possible restructuring. Management and board do not believe our current share price in anyway reflects the value of our PL Gold Mine restart plan or Minnova Renewable Energy and we will aggressively pursue transactions to surface value of both businesses.”
QA/QC
All samples were sawn and separated with one half being returned to the core box for reference and the other being bagged in a plastic sample bag which was labeled, tagged, documented and sealed. All core samples were placed in labelled rice sacks and sealed with a security zip-tie. Samples were delivered to Activation Laboratories Ltd. in Thunder Bay Ontario. Receipt of the samples was signed off at the preparation lab and was tracked by the Company. Pulps of each sample were prepared and followed by fire assay and gravimetric analysis, if required. A QA/QC program including the regular insertion by the Company of duplicates, blanks and standards was instituted. Sample lengths varied according to geology and mineralization with quartz veins regularly sampled.
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About Minnova Corp.
Minnova Corp. is an emerging Canadian gold producer with a focus on incorporating clean energy into the restart plan for the PL Gold Mine. In addition to expanding gold resources on its PL and Nokomis gold deposits the Company established a wholly owned subsidiary, Minnova Renewable Energy, which is targeting green hydrogen production. The Company has completed a Positive Feasibility Study in support of restarting the PL Mine at an average annual production rate of 46,493 ounces over a minimum 5-year mine life. The resource remains open to expansion and future surface exploration work programs will target resource expansion. The PL Gold Mine has a short pre-production timeline forecast at 15 months, benefits from a valid underground mining permit (Environment Act 1207E), an existing 1000 tpd processing plant, over 7,000 meters of developed underground ramp to -135 metres depth, is fully road accessible and close to existing mining infrastructure in the prolific Flin Flon Greenstone Belt of Central Manitoba. Minnova announced an exclusive agreement to acquire up to 100% of the outstanding share capital of DUMA Engineering (2018) Inc. (“DUMA”) on December 13, 2022. The acquisition price will consist of; a) an initial payment of C$100,000 for a 50% interest and b) a final payment to be determined following the completion of satisfactory due diligence and the filing of certain patents related to their innovative gasification technology. The closing of the acquisition of DUMA is subject to several conditions including the satisfactory completion of due diligence, receipt of all regulatory approvals and is expected to be concluded by the end of Q2/2022.
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Qualified Person
Mr. Chris Buchanan, M. Sc., P. Geo., a consultant of the Company and a “Qualified
Person” under National Instrument 43-101, has reviewed and approved the scientific and
technical information in this press release.
For more information please contact:
Minnova Corp.
Gorden Glenn
President & Chief Executive Officer
For further information, please contact Investor Relations at 647-985-2785 or info@minnovacorp.ca
Visit our website at www.minnovacorp.ca
Forward Looking Statements
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, information regarding the Company including management’s assessment of future plans and operations, that may involve risks associated with mining exploration and development, volatility of prices, currency fluctuations, imprecision of resource estimates, environmental and permitting risks, access to labour and services, competition from other companies and ability to access sufficient capital. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements. A feasibility study has been completed on the PL Gold Mine development project but there is no certainty the disclosed targets will be achieved nor that the proposed operations will be economically viable. Minnova has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information. Forward-looking information is provided for the purpose of providing information about management’s expectations and plans relating to the future. The Company disclaims any intention or obligation to update or revise any forward-looking information or to explain any material difference between subsequent actual events and such forward-looking information, except to the extent required by applicable law. There may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Minnova does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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Trading in the securities of the Company 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 nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
NOT FOR DISSEMINATION INTO THE UNITED STATES
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/124424
In the Conference session “From Disease Insights to Therapeutic Options” held on Monday, May 16th, Dr. Neil Cashman, ProMIS CSO and a member of the Conference Advisory Committee, delivered an oral presentation, entitled: “Abeta oligomers in Alzheimer’s disease: target engagement and target distraction.”
A large body of scientific data has implicated misfolded oligomers as the toxic molecular species of amyloid-beta (Abeta) relevant to Alzheimer’s disease (AD). In his presentation, Dr. Cashman discussed the importance of selectivity for toxic Abeta oligomers in order to avoid “target distraction”, namely the absorption of antibodies by monomers which can reduce effective targeting of oligomers, and binding to plaque and vascular deposits which has been associated with adverse events such as brain edema.
The ProMIS proprietary computational platform allows for the design of conformational epitopes exposed on toxic, misfolded proteins but not on normal forms of the same protein. This discovery platform has been applied successfully to several targets for the generation of antibodies selective for misfolded proteins implicated in neurodegeneration. As presented by Dr. Cashman, this process is exemplified by PMN310, a monoclonal antibody with selectivity for toxic Abeta oligomers that is being developed by ProMIS as a candidate for the treatment of AD.
The Neuro4D is an international conference on Neurodegenerative Disease Drug Discovery bringing together drug discovery companies, service and technology providers, and academic innovators in the field of proteopathic neurodegenerative diseases in a highly interactive format.
ProMIS Neurosciences Inc. is a development stage biotechnology Corporation focused on discovering and developing antibody therapeutics selectively targeting toxic oligomers implicated in the development and progression of neurodegenerative diseases, in particular Alzheimer’s disease (AD), amyotrophic lateral sclerosis (ALS) and multiple system atrophy (MSA). The Corporation’s proprietary target discovery engine is based on the use of two complementary techniques. The Corporation applies its thermodynamic, computational discovery platform – ProMIS™ and Collective Coordinates – to predict novel targets known as Disease Specific Epitopes on the molecular surface of misfolded proteins. Using this unique approach, the Corporation is developing novel antibody therapeutics for AD, ALS and MSA. ProMIS is headquartered in Toronto, Ontario, Canada with offices in Cambridge, Massachusetts, U.S.A. ProMIS is listed on the Toronto Stock Exchange (TSX) under symbol PMN, and on the OTCQB Venture Market under symbol ARFXF.
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(MENAFN– Newsfile Corp) Synex Renewable Energy Announces Normal Course Issuer Bid
Vancouver, British Columbia–(Newsfile Corp. – May 17, 2022) – Synex Renewable Energy Corporation (TSX: SXI) (Formerly, Synex International Inc.) (the ‘Company’ or ‘Synex’) is pleased to announce that the Toronto Stock Exchange (the ‘TSX’) has accepted a notice filed by Synex of its intention to make a normal course issuer bid (‘NCIB’).
The TSX notice provides that Synex may, during the 12-month period commencing May 19, 2022 and terminating May 18, 2023, purchase up to 200,575 of Synex’s common shares (‘Common Shares’), representing approximately 5% of the issued and outstanding Common Shares, by way of a NCIB on the TSX or through alternative trading systems. As of May 16, 2022, Synex had 4,011,511 outstanding Common Shares. Based on the average daily trading volume of 1,372 Common Shares during the last six months, daily purchases will be limited to 1,000 Common Shares, other than block purchase exceptions.
Purchases will be made on behalf of the Company by a registered broker through facilities of the TSX at prevailing market prices pursuant to the rules of the TSX governing normal course issuer bids and/or through alternative Canadian trading platforms or as otherwise may be permitted by applicable securities regulatory authorities. Synex has not repurchased any Common Shares in the past 12 months.
Decisions regarding the timing of future purchases of Common Shares will be based on market conditions, share price and other factors. Synex may elect to suspend or discontinue its NCIB at any time. Common Shares purchased under the NCIB will be cancelled. Synex believes that the market price of its Common Shares may, from time to time, not reflect the inherent value of the Company, and that purchases of Common Shares pursuant to the NCIB may represent an appropriate and desirable use of the Company’s funds. Therefore, Synex believes that it is in the best interest of the Company to proceed with the NCIB.
Pursuant to an automatic share purchase plan with its registered broker dated May 16, 2022 and effective on the commencement of the NCIB, Synex may, from time to time, when it does not possess material non-public information about itself or its securities, set certain pre-determined parameters to allow for the purchase of Common Shares at times when Synex ordinarily would not be active in the market due to its own internal trading blackout periods and insider trading rules.
About Synex Renewable Energy Corporation (formerly, Synex International Inc.)
Synex is a Vancouver, British Columbia based company engaged in the development, acquisition, ownership, and operation of renewable energy projects in Canada. It has ownership interests in 12 MW of operating hydro projects in British Columbia and owns a Vancouver Island grid connection and utility carrying on business as Kyuquot Power Ltd. The Company also has 24 potential hydroelectric sites totaling over 150 MW of capacity, and approximately 17 wind development sites that could provide up to 4,850 MW of clean power in British Columbia. For further information, visit .
For media inquiries, please contact:
Daniel J. Russell
President & CEO, Synex Renewable Energy Corporation. (Formerly, Synex International Inc.)
524 Locust St., Burlington, ON, L7S 1V2
Phone (905) 329-5000
E-mail:
Cautionary Note Regarding Forward-Looking Information and Statements
This press release contains certain ‘forward-looking information’ within the meaning of applicable Canadian securities legislation. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only Synex’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Synex’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as ‘plans’, ‘expects’ or ‘does not expect’, ‘is expected’, ‘budget’, ‘scheduled’, ‘estimates’, ‘forecasts’, ‘intends’, ‘anticipates’ or ‘does not anticipate’, or ‘believes’, or variations of such words and phrases or may contain statements that certain actions, events or results ‘may’, ‘could’, ‘would’, ‘might’ or ‘will be taken’, ‘will continue’, ‘will occur’ or ‘will be achieved’.
By identifying such information and statements in this manner, Synex is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking information and forward-looking statements contained in this press release, Synex has made certain assumptions. Although Synex believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. Among others, the key factors that could cause actual results to differ materially from those projected in the forward-looking information and statements are the following: changes in general economic, business and political conditions, including changes in the financial markets; and the other risks disclosed in the Company’s annual information form dated September 28, 2021 and available on the Company’s profile at . Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated, or expected.
The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and Synex does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to Synex or persons acting on its behalf is expressly qualified in its entirety by this notice.
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(Reuters) – Futures for Canada’s main stock index rose on Tuesday, aided by gains in crude and bullion prices, although concerns around soaring inflation and a global slowdown capped their rise.
Gold prices firmed as a pullback in the dollar supported demand for greenback-priced bullion, while oil hit its highest in seven weeks, bolstered by the European Union’s ongoing push for a ban on Russian oil imports that would tighten supplies. [O/R][GOL/]
June futures on the S&P/TSX index were up 0.9% at 6:54 a.m. ET.
The Toronto Stock Exchange’s S&P/TSX composite index ended 0.5% higher at 20,206.41 on Monday. [.TO]
Dow e-minis were up 467 points, or 1.45%, at 6:54 a.m. ET, while S&P 500 e-minis were up 66.75 points, or 1.67% and Nasdaq 100 e-minis were up 246 points, or 2.01%. [.N]
ANALYST RESEARCH HIGHLIGHTS [RCH/CA]
Emera Inc: RBC raises target price to C$72 from C$66
Royal Bank of Canada: CIBC cuts target price to C$146 from C$149
Toronto-Dominion Bank: CIBC cuts target price to C$100 from C$103
COMMODITIES AT 7:00 a.m. ET
Gold futures: $1827.7; +0.76% [GOL/]
US crude: $114.86; +0.59% [O/R]
Brent crude: $114.98; +0.65% [O/R]
U.S. ECONOMIC DATA DUE ON TUESDAY
0830 Retail sales mm for Apr : Expected 0.9%; Prior 0.5%
0830 Retail sales ex-autos mm for Apr : Expected 0.4%; Prior 1.1%
0830 Retail ex gas/autos for Apr : Prior 0.2%
0830 Retail control for Apr : Expected 0.5%; Prior -0.1%
0830 Retail sales YoY for Apr : Prior 6.29%
0915 Industrial production mm for Apr : Expected 0.5%; Prior 0.9%
0915 Capacity utilization SA for Apr : Expected 78.6%; Prior 78.3%
0915 Manufacturing output mm for Apr : Expected 0.4%; Prior 0.9%
0915 Industrial production YoY for Apr : Prior 5.47%
1000 Business inventories mm for Mar : Expected 1.9%; Prior 1.5%
1000 Retail inventories ex-auto rev for Mar : Prior 2.3%
1000 NAHB Housing Market Index for May : Expected 75; Prior 77
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report [.TO]
Canadian dollar and bonds report [CAD/] [CA/]
Reuters global stocks poll for Canada
Canadian markets directory
($1= C$1.28)
(Reporting by Amal S in Bengaluru; Editing by Vinay Dwivedi)
