Futura Medical PLC (LON:FUM) late on Friday unveiled plans to raise up to £3.25mln with backing from private and professional investors. A £1.5mln tranche is being undertaken via the financial platform Primary bid at 8p a share, a 26% discount to the close last Thursday. Lombard Odier, meanwhile, will pay £1.75mln for 21.875mln Futura shares.
Regency Mines PLC (LON:RGM) the battery metals and energy storage company has announced a partnership deal with ion Ventures Ltd, an investor in and developer of energy storage and flexibility assets. In a statement, Regency – which is strategically focused around battery metals – said the parties have executed a memorandum of understanding (MOU) to partner on Regency’s existing pipeline of projects, with a view to identifying and prioritising the most commercially attractive projects, securing funding and then moving quickly to first cash flow.
Augmented and virtual reality investor Sure Ventures PLC (LON:SURE) has notched up its first realised gain with the sale of 3D artificial intelligence platform Artomatix. The investment was held by 25.9% owned associate Suir Valley Ventures (SVV) with the sale price a cash multiple of approximately five times its initial investment. Sure Ventures will book a profit of €1.6mln from the sale.
Eden Research plc (LON:EDEN) has signed its second exclusive distribution contract in a week for grape fungicide Mevalone. Italian group Sipcam will market, distribute and sell the product in Portugal and the Benelux region.
IXICO PLC (LON:IXI), the data analytics company delivering insights in neuroscience, has got a pre-Christmas boost, revealing a £2.4mln expansion of study programmes with two large pharma client contracts. In a brief statement, the AIM-listed firm said it has agreed around a £1.8mln extension to a Phase III study in Huntington’s Disease (HD), previously announced in September 2018. In addition, it continued, it has been awarded around a £0.6mln extension to a study programme in Progressive Supranuclear Palsy (PSP), previously announced in October 2019.
Zoetic International PLC (LON:ZOE) said its interim results revealed the CBD specialist’s ‘seed to shelf’ strategy was working, with the company’s chief executive upbeat on the prospects for next year. “Shareholders have come to know me for my conservative approach and I am not one for grand predictions but I remain confident that our multi-channel sales approach can bring success to our company,” said Nick Tulloch in comments accompanying its first-half update.
Just in time for a bit of last-minute Christmas shopping for the devoted angler, Angling Direct PLC (LON:ANG) has opened a new store. It is located in Swinton, Greater Manchester and brings the total number of Angling Direct stores across the UK to 34, ten of which have been opened this year.
Minds + Machines Group Limited (LON:MMX), the top-level domain registry company, has revealed that it has continued to trade well in the fourth quarter as it announced the completed renegotiation of an onerous legacy contract. In a brief statement, the group said that further to its announcement of 18 July 2019, all existing and future liabilities, estimated at US$7.9mln, arising from that contract have been settled through a single one-off payment of US$5.1mln.
U.S. Oil & Gas PLC (USOIL) told investors that it is presently preparing applications for permits to drill three new wells. The company said it hopes to drill a well in the first quarter of 2020, subject to regulatory approvals, and subsequent drilling would depend upon the outcome of the first well.
Nu Oil and Gas Plc (LON:NUOG) has released its final results for the twelve months ended 30 June 2019, though given the recent significant changes within the organisation the financials will be of limited relevance to investors. The pre-revenue company reported a £2.79mln loss for the year, including £2.01mln of admin expenses and £788,000 of finance costs. Among the admin expenses were several one-off and exceptional items such as impairments, settlement and termination payments. At the end of June, the company had a cash balance of £58,000.
Vast Resources PLC (LON:VAST) has told investors it has kicked off a new drill programme at the Baita Plai polymetallic mine in Romania. Findings from the programme will be used to further define the grades and resource, the company said. It will support existing efforts to confirm a JORC compliant resource statement for the project. Operations are advancing at Baita Plai where the cold commissioning of new mine operations also started last week.
Alba Mineral Resources PLC (LON:ALBA) has updated on the Horse Hill oil project where the new horizontal well has completed its initial flow testing period, showing positive rates but also a requirement for certain interventions. Fellow Horse Hill stakeholder UK Oil & Gas PLC (LON:UKOG) highlighted that the new horizontal well initially flowed at some 1,087 barrels of fluid per day during ‘clean-up’ with oil cuts of up to 60%.
Anglo African Oil & Gas PLC (LON:AAOG) confirmed it is “examining financing” options, including the sale of a controlling interest in Anglo African Oil & Gas Congo SAU, as it responded to speculation around its plans. It is examining its alternatives following “continued non-payment” by Société Nationale des Pétroles du Congo (SNPC), the national oil company of the Republic of Congo.
Kazera Global PLC (LON:KZG) is looking forward to commencing phase 2 of its drilling programme at the Namibia Tantalite Investment (NTI) Mine. In its final results statement covering the year to the end of June, the Namibia-focused company said Phase 2 exploration step-out drilling should be completed in the first half of 2020 and is expected to identify further mineral resources.
Adamas Finance Asia Limited (LON:ADAM) said it has purchased 2,400,000 existing ordinary shares in the company at a price of 16.1p (0.21 US cents) per share, representing an aggregate purchase price of £386,400 (US£505,326). The group noted that shares were bought on-market using existing cash reserves with the aim to avoid the potential continuation of an on-market overhang which it believes was created recently by the seller of this block. The company said it understands that the selling pressure from this shareholder was driven by non-market considerations and that its purchase comprises the entire holdings of this shareholder.
Oracle Power PLC (LON:ORCP), the UK energy developer of a combined lignite coal mine and mine mouth power plant located in Block VI of the Thar desert in the south-east of the Sindh Province of Pakistan, announced that it has received a notice of exercise in respect of certain pre-existing warrants to subscribe for 15,882,325 ordinary shares in the company at a price of 0.85p per share. The group said the exercise of these warrants amounts to a cash subscription of approximately £135,000. The group also revealed that Sheikh Ahmed Bin Dalmook Al Maktoum’s holding in the company has now increased to the 11.5% maximum stake revealed earlier in the month, up from 6.41% previously.
Scotgold Resources Limited (LON:SGZ) announced that it has received an election and payment to exercise options over 1,744,657 new ordinary shares in the company at a price of £0.40 each, which were due to expire on 31 December 2019, from Rhodora Limited. The group said that, on admission, Rhodora will hold a beneficial interest in 1,744,657 ordinary shares, representing approximately 3.4% of company’s ordinary share capital.
United Oil & Gas PLC (LON:UOG), the AIM traded oil and gas exploration and development company, announced that at its held earlier on Monday, all resolutions, as set out in the circular dated 6 December 2019, were duly passed. Accordingly, the group’s acquisition of Rockhopper Egypt – which owns a 22% non-operated working interest in the Abu Sennan Concession and associated development leases in Egypt – is now conditional only upon: EGPC and the Minister of Petroleum and Mineral Resources of Egypt approving the deed of assignment; and the Rockhopper acquisition agreement, the BP facility, and placing agreement becoming unconditional save for admission.
Galantas Gold Corporation (LON:GAL) (CVE:GAL), the gold producer and explorer with a 100% interest in Northern Ireland’s Omagh gold mine, said its convertible debenture for £1,000,000 /C$1,731,190 has now closed.