Release – Ely Gold (ELYGF)(ELY:CA) – Reports Year End Financials


Ely Gold Royalties Reports Year End Financials

 

Shareholder Equity Increases 470% – Gross Revenue Climbs to $4.1M
Working Capital Increases to $7.8 Million

Vancouver, British Columbia, April 28, 2021 – Ely Gold Royalties Inc. (TSX-V: ELY, OTCQX: ELYGF) (“Ely Gold” or the “Company” has reported year-end financial results for the fourth quarter (“Q4 2020”) and year (“FY 2020”) ended December 31, 2020. All figures are in Canadian Dollars, unless otherwise expressed. The Company’s Financial Statements and MD&A, Q4 2020 and FY 2020 have been filed on SEDAR and are available on the Company’s website.

Financial Highlights for the Fiscal Year ending December 31, 2020

  • Cash balance of $7,381,784 compared to a cash balance of $2,973,520 for FY 2019;
  • Working capital of $7,810,155 compared to working capital of $2,948,823 for FY 2019;
  • Revenue of $3,349,450 compared to revenue of $2,082,830 for FY 2019;
  • Total Gross proceeds from optioned properties and royalty assets of $4,122,966 compared to $3,155,110 for FY 2019; and
  • Shareholders’ equity up 470% to $41,042,723 compared to $8,723,557 for FY 2019.

Financing Activities

  • 21,562,500 shares issued through a brokered private placement for net proceeds of $16,450,990;
  • 24,634,957 shares issued on exercise of warrants for total proceeds of $6,6,857,638; and
  • 1,675,000 shares issued on exercise of employee options for total proceeds of $384,000.

Acquisitions
During the year the Company completed the acquisition several acquisitions but the most significant were:

  • VEK Associates by paying US$5,000,000 and the issuance of warrants. VEK owns interests in the following leases with royalties:
  • REN 1.5% NSR;
  • Marigold .75% NSR;
  • Lone Tree 1.5% NSR;
  • Carlin Mine 1.5% NSR; and
  • Getchell 1.5% NSR.
    • Jerritt Canyon 0.5% NSR for $11,553,163 in shares and warrants;
    • Mineral Interests and .44% NSR at Railroad-Pinon for US$1365,000 cash and warrants;
    • Rawhide 15% NPI for US$800,000 and warrants;
    • Borden Lake .4% NSR for $307,000 in cash, 100,000 shares 130,000 warrants;
    • Additional 1% NSR at Lincoln Hill for US$1,000,000 and warrants;
    • Ren 3.5% NPI for US$500,000;
    • Watershed 2% NSR at Cote Lake Mine for $2,520,000 and warrants;
    • Sleeper .5% NSR for US$250,000; and
    • Trenton Canyon .3% GRR for US$350,000 and warrants.

Property Sales
In FY 2020, Ely Gold sold twelve projects to third parties adding to its royalty generation portfolio which now totals 29 properties. All projects were sold under a four-year option contract and will generate NSR royalties if exercised. They include the Tonopah West Project optioned to Blackrock Silver and the Weepah & Spanish Moon Projects optioned to Eminent Gold.

Trey Wasser, President and CEO of Ely Gold commented; “2020 was a formative year, on all fronts for Ely Gold. In a challenging environment, we added substantial shareholder value by increasing assets, revenues & property sales. Our continued focus on gold assets in North America is proving to be a solid strategy for future growth for Ely Gold Shareholders.”

About Ely Gold Royalties Inc. Ely Gold Royalties Inc. is a Nevada focused gold royalty company. Its current portfolio includes royalties at Jerritt Canyon, Goldstrike and Marigold, three of Nevada’s largest gold mines, as well as the Fenelon mine in Quebec, operated by Wallbridge Mining. The Company continues to actively seek opportunities to purchase producing or near-term producing royalties. Ely Gold also generates development royalties through property sales on projects that are located at or near producing mines. Management believes that due to the Company’s ability to locate and purchase third-party royalties, its strategy of organically creating royalties and its gold focus, Ely Gold offers shareholders a favorable leverage to gold prices and low-cost access to long-term gold royalties in safe mining jurisdictions.

On Behalf of the Board of Directors
Signed “Trey Wasser”
Trey Wasser, President & CEO

For further information, please contact:

Trey Wasser, President & CEO
[email protected]
972-803-3087

Joanne Jobin, Investor Relations Officer
[email protected]
647-964-0292

FORWARD-LOOKING CAUTIONS: This press release contains certain “forward-looking statements” within the meaning of Canadian securities legislation, including, but not limited to, statements regarding completion of the Transaction. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “aims,” “potential,” “goal,” “objective,” “prospective,” and similar expressions, or that events or conditions “will,” “would,” “may,” “can,” “could” or “should” occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the Company’s inability to control whether the buy-down right will ever be exercised, and whether the right of first refusal will ever be triggered, uncertainty as to whether any mining will occur on the property covered by the Probe Royalty such that the Company will receive any payment therefrom, and the general risks and uncertainties relating to the mineral exploration, development and production business. The reader is urged to refer to the Company’s reports, publicly available through the Canadian Securities Administrators’ System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effect.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Driven By Stem (STMH) – Expanding into Michigan the Fourth-Largest U.S. Cannabis Market – Teaming Up with Organic Guyz

 


Driven By Stem is Expanding into Michigan, the Fourth-Largest U.S. Cannabis Market – Teaming Up with Organic Guyz

 

New Dispensary Location Opening in Kalamazoo


Launch of Budee™ Home Delivery Statewide to Bring Great Brands and Products to Michigan Market

BOCA RATON, Fla.April 28, 2021 /PRNewswire/ — Stem Holdings, Inc. d/b/a Driven by Stem (OTCQX: STMH) (CSE: STEM) (the “Company” or “Stem“), the first multi-state, vertically integrated Farm-to-Home™ (F2H) cultivation and technology omnichannel cannabis company featuring a proprietary Delivery-as-a-Service (DaaS) marketplace platform, today announced that it has teamed up with Organic Guyz, a Michigan Cannabis company, for the opening of its newest dispensary in the heart of Kalamazoo, Michigan this June. In addition, Stem will introduce its Budee e-commerce and delivery platform for the first time in the Midwest, in order to service the entire state of Michigan with future plans for expansion in adjacent markets.

Stem is a Farm-to-Home™ multi-state operator with dispensaries in three other states.  This will be the second Stem branded dispensary in the country.  Stem’s acquisition of Driven Deliveries in December 2020 added Budee’s omnichannel technology to its existing retail operations, enabling Stem to deliver to 92% of California residents with plans for expansion to other states including Michigan. Stem chose to expand to Michigan because of increased demand for home delivery in that state due to an expanding cannabis market, which has doubled in the last 12 months.1

“We have targeted Michigan as a growth market for Stem, recognizing the 179% increase in sales there last year.2 It remains an underserved opportunity and we are excited to work with Organic Guyz to offer the best line-up of products available in the state,” stated Adam Berk, CEO of Stem. “Cannabis sales of $1.2 billion are projected in Michigan next year including both recreational and medical cannabis,3 and we are uniquely poised to service that market based on our operational experience,” he continued. “Collectively, we are building a new dispensary as the first step in our plan there.  Our ability to deliver the customer experience demanded by cannabis connoisseurs will allow us to quickly penetrate the market in Kalamazoo which has just 22 dispensaries and deliver locally and statewide to meet this growing demand with our Budee platform,” he concluded.

Stem cultivates cannabis and hemp within its facilities on the West Coast, and its family of brands includes flower, pre-roll, edibles, concentrates and tinctures with disruptive new products launching this year as Stem expands the footprint of its brands. 

“We are excited to work with the Stem team, and we share their passion and commitment to quality and service,” stated Concetta Mazzetti, Organic Guyz’s head of operations. “Stem’s proven track record of success in other markets, and their dynamic approach to cannabis, were key factors in our decision to move forward together,” she concluded.

The new Stem dispensary will be over 2500 square feet, and will be located on Portage Street, conveniently located near major roadways.  There is sufficient parking for the delivery drivers since this is going to be one of our major delivery hubs for the state.  An integrated marketing effort is planned for the grand opening which is anticipated to occur in Summer 2021.

About Stem Holdings, Inc.

Stem is a leading omnichannel, vertically-integrated cannabis branded products and technology company with state-of-the-art cultivation, processing, extraction, retail, distribution, and delivery-as-a-service (DaaS) operations throughout the United States. Stem’s family of award-winning brands includes TJ’s Gardens™, TravisxJames™, and Yerba Buena™ flower and extracts; Cannavore™ edible confections; Doseology™, a CBD mass-market brand launching in 2021; as well as DaaS brands Budee™ and Ganjarunner™ through the acquisition of Driven Deliveries. Budee™ and Ganjarunner™ e-commerce platforms provide direct-to consumer proprietary logistics and an omnichannel UX (user experience)/CX (customer experience).

Forward-Looking Statements
This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company’s current expectations.  When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release includes information relating to: (i) the implementation of the Company’s business plan; (ii) the expected expansion of the Michigan cannabis market; (iii) the expected opening of a dispensary in Michigan and the expected delivery activities in such state; and (iv) the potential expansion of the deliver business to adjacent states.

By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.  Such factors include, among others, the following risks: risks associated with the implementation of the Company’s business plan and matters relating thereto, risks associated with the cannabis industry, competition, regulatory change, the need for additional financing, reliance on key personnel, the potential for conflicts of interest among certain officers or directors, insurance, intellectual property and reliable supply chains; and risks related to the Company and its business generally. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made, and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change.  Investors are cautioned against attributing undue certainty to forward-looking statements.

For further information, please contact:

Media Contact: 
Mauria Betts 
STEM HOLDINGS, INC. 
[email protected]
971.319.0303

Investor Contact:
Valter Pinto / Elizabeth Barker
[email protected]
212.896.1254 / 212-896-1203

1 Source: https://www.metrotimes.com/detroit/michigans-legal-marijuana-industry-hits-record-sales-buoyed-by-new-products/Content?oid=26891892
2 Source: https://www.newcannabisventures.com/michigan-cannabis-sales-soar-179-to-record-146-million-in-march/
3 Source: https://www.mlive.com/public-interest/2021/04/michigan-marijuana-sales-break-1-billion-pace-insiders-expect-record-breaking-april.html  

SOURCE Stem Holdings, Inc.

Chakana Copper (CHKKF)(PERU:CA) – Reports High-Grade Intersects


Chakana Reports High-Grade Intersects

 

125.0m of 0.63 g/t Au, 0.54% Cu, and 55.7 g/t Ag (1.43% Cu-eq); Including 15.0m of 2.29 g/t Au, 1.27% Cu, and 248.6 g/t Ag (4.89% Cu-eq) at Huancarama

Vancouver, British Columbia–(Newsfile Corp. – April 28, 2021) – Chakana Copper Corp. (TSXV: PERU) (OTCQB: CHKKF) (FSE: 1ZX) (the Company or Chakana“), is pleased to provide recently received drill results from eight exploration holes from Huancarama totaling 1,522.1m (Table 1) and five resource drill holes from Paloma East totaling 1,455.15m (Table 2). Drilling continues as part of a fully-funded 26,000m exploration and resource drilling program (Fig. 1).

David Kelley, President and CEO, commented, “It is great to see these strong results from both new exploration drilling and definition drilling. At Huancarama East, we are clearly defining a sizeable zone of copper-gold-silver mineralization that should feature prominently in our resource estimation plans. At Huancarama West, the exploration drilling continues to define shapes and continuity, while Paloma East has impressive significant near-surface mineralization and long runs of mineralization, including 163.9m of 0.42 g/t Au, 0.33% Cu, and 11.7 g/t Ag from surface in tourmaline breccia that is open at depth. The drill program continues to run smoothly with effective COVID protocols in place.”

Huancarama Exploration Drilling

Table 1. Mineralized intervals from Huancarama include:

DDH # From      –     To (m) Core Length (m) Au
g/t
Ag
g/t
Cu % Cu-eq
%*
Au-eq g/t*
SDH21-176 1.50 5.55 4.05 1.85 9.4 0.07
1.97
and 67.00 80.00 13.00 0.77 42.2 0.12
1.51
and 153.30 157.00 3.70 2.87 99.8 1.87 4.60 7.04
and 199.00 324.00 125.00 0.63 55.7 0.54 1.43 2.18
including 207.00 214.00 7.00 1.43 169.6 2.78 5.16 7.90
including 278.00 293.00 15.00 2.29 248.6 1.27 4.89 7.48
SDH21-177 21.10 29.00 7.90 1.36 8.4 0.17
1.73
and 41.70 44.60 2.90 1.55 4.6 0.02
1.61
and 118.70 122.00 3.30 0.19 67.4 0.32 1.02 1.56
SDH21-180 No Significant Results
SDH21-182 80.00 104.00 24.00 0.20 219.5 0.45 2.46 3.76
SDH21-183 96.00 113.00 17.00 0.63 143.5 1.94 3.58 5.47
SDH21-185 No Significant Results
SDH21-186 No Significant Results
SDH21-187 167.20 217.00 49.80 0.92 53.3 0.80 1.86 2.84
including 197.00 216.00 19.00 1.89 108.1 1.61 3.77 5.77
and 268.00 312.85 44.85 0.62 22.5 1.00 1.60 2.44

 

* Cu_eq and Au_eq values were calculated using copper, gold, and silver. Metal prices utilized for the calculations are Cu – US$2.90/lb, Au – US$1,300/oz, and Ag – US$17/oz. No adjustments were made for recovery as the project is an early-stage exploration project and metallurgical data to allow for estimation of recoveries are not yet available. The formulas utilized to calculate equivalent values are Cu-eq (%) = Cu% + (Au g/t * 0.6556) + (Ag g/t * 0.00857) and Au-eq (g/t) = Au g/t + (Cu% * 1.5296) + (Ag g/t * 0.01307).

Eight holes were drilled in the Huancarama Breccia Complex – seven holes were collared on the western side of the complex, and one hole was collared on the far eastern side (Figs. 2 and 3). Hole SDH21-176 started on the western side of the complex intercepting two breccias, then continued across to the east-southeast of the complex with continuous breccia encountered from 199.0 to 324.0m depth. Hole SDG21-187 was drilled to the southwest and intersected two continuous zones from 167.2m to 217.0m, and 268.0m to 312.85m depth. Given the grade and continuity of mineralization in the Huancarama East breccia pipe, resource drilling has been focused in this area. Examples of mineralized drill core from these holes are shown in Figure 6.

Paloma East Resource Drilling

Table 2. Mineralized intervals from resource drilling at Paloma East include:

DDH # From    –     To (m) Core Length (m) Au
g/t
Ag
g/t
Cu % Cu-eq
%*
Au-eq g/t*
SDH21-178 0.30 7.00 6.70 1.88 10.4 0.21 1.53 2.34
and 47.00 162.00 115.00 0.13 27.0 0.22 0.54 0.82
including 126.00 144.00 18.00 0.07 108.1 0.19 1.16
SDH21-179 53.00 144.00 91.00 0.13 16.5 0.50 0.73 1.11
and 213.00 217.40 4.40 0.65 85.9 0.29 1.45 2.22
SDH21-181 49.00 140.00 91.00 0.19 19.5 0.68 0.97 1.49
SDH21-184 3.25 132.00 128.75 0.38 11.4 0.21 0.56 0.85
and 161.30 173.00 11.70 0.17 14.9 0.38 0.62 0.95
SDH21-188 0.10 164.00 163.90 0.42 11.7 0.33 0.70 1.08
including 20.00 35.00 15.00 2.17 18.0 0.02
2.41
including 69.00 83.00 14.00 0.24 31.7 1.40 1.83 2.80

 

* Cu_eq and Au_eq values were calculated using copper, gold, and silver. Metal prices utilized for the calculations are Cu – US$2.90/lb, Au – US$1,300/oz, and Ag – US$17/oz. No adjustments were made for recovery as the project is an early-stage exploration project and metallurgical data to allow for estimation of recoveries are not yet available. The formulas utilized to calculate equivalent values are Cu-eq (%) = Cu% + (Au g/t * 0.6556) + (Ag g/t * 0.00857) and Au-eq (g/t) = Au g/t + (Cu% * 1.5296) + (Ag g/t * 0.01307).

At Paloma East, five holes were drilled as part of the resource drilling program (Figs. 4 and 5). Three holes were set up on the west side of the breccia pipe and drilled to the east, and two holes were set up on the northeast side and drilled to the southwest. Shallow mineralization was encountered in all five holes. Hole SDH21-188 intersected 163.9m of mineralized breccia starting at surface, then continued to the southwest where strongly pyritic breccia was encountered at depth. Examples of mineralized drill core from these holes are shown in Figure 7. Additional infill drilling is being planned for the shallow mineralized zone at Paloma East.

2021 Resource and Exploration Drill Program

Results reported here are part of the fully funded 2021 drill program of 26,000m. Combined with the drilling in the second half of 2020 approximately 32,000m is anticipated through 2021. Of this, 11,062.5m have been reported in 56 drill holes for the Paloma and Huancarama areas. For the 26,000m of drilling planned in 2021, the Company will complete approximately 16,000m of resource definition drilling. This drill program will be integral to the publication of a maiden resource in 2021.

Additionally, 10,000m of exploration drilling is planned for 2021. This will focus on new targets located in the northern portion of the project that have not been drilled previously but are strategic to any eventual development at Soledad. A strategic review of exploration targets is underway and plans are currently being finalized with an update to shareholders to follow.

About Chakana Copper

Chakana Copper Corp is a Canadian-based minerals exploration company that is currently advancing the Soledad Project located in the Ancash region of Peru, a highly favorable mining jurisdiction with supportive communities. The Soledad Project consists of high-grade gold-copper-silver mineralization hosted in tourmaline breccia pipes. A total of 45,061 metres of drilling has been completed to date, testing ten (10) of twenty-three (23) confirmed breccia pipes. The exploration team has identified 110 targets in total on the project, confirming that Soledad is a large, well-endowed mineral system with strong exploration upside. Chakana’s investors are uniquely positioned as the Soledad Project provides exposure to several metals including copper, gold, and silver. For more information on the Soledad project, please visit the website at www.chakanacopper.com.

Sampling and Analytical Procedures

Chakana follows rigorous sampling and analytical protocols that meet or exceed industry standards. Core samples are stored in a secured area until transport in batches to the ALS facility in Callao, Lima, Peru. Sample batches include certified reference materials, blank, and duplicate samples that are then processed under the control of ALS. All samples are analyzed using the ME-MS41 (ICP technique that provides a comprehensive multi-element overview of the rock geochemistry), while gold is analyzed by AA24 and GRA22 when values exceed 10 g/t by AA24. Over limit silver, copper, lead and zinc are analyzed using the OG-46 procedure. Soil samples are analyzed by 4-acid (ME-MS61) and for gold by Fire Assay on a 30g sample (Au-ICP21).

Results of previous drilling and additional information concerning the Project, including a technical report prepared in accordance with National Instrument 43-101, are made available on Chakana’s SEDAR profile at www.sedar.com.

Qualified Person

David Kelley, an officer and a director of Chakana, and a Qualified Person as defined by NI 43-101, reviewed and approved the technical information in this news release.

ON BEHALF OF THE BOARD
(signed) “David Kelley
David Kelley
President and CEO

For further information contact:
Joanne Jobin, Investor Relations Officer
Phone: 647 964 0292
Email: [email protected]

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

Forward-looking Statement Advisory: This release may contain forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Chakana to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Forward looking statements or information relates to, among other things, the interpretation of the nature of the mineralization at the Soledad copper-gold-silver project (the “Project”), the potential to expand the mineralization, and to develop and grow a resource within the Project, the planning for further exploration work, the ability to de-risk the potential exploration targets, and our belief in the potential for mineralization within unexplored parts of the Project. These forward-looking statements are based on management’s current expectations and beliefs but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward- looking statements or information. The Company disclaims any obligation to update, or to publicly announce, any such statements, events or developments except as required by law.

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Figure 1 – View looking north showing breccia pipes and occurrences within the northern Soledad cluster. Pipes that have been drilled in previous campaigns are shown in red. Outcropping breccia pipes shown in green are the focus of the current drill campaign. Other pipes and occurrences remain to be tested by drilling. Additional breccia pipes occur on the south half of the property and are not shown here.

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Figure 2 – Map of the Huancarama Breccia Complex and drill hole lithology in holes completed to date. Red shapes projected to surface represents tourmaline breccia pipes based on all holes drilled to date and lithology mapped in the underground tunnel. Black dotted outlines show surface expression of mapped breccias (H1-H5); white dashed line shows collapse zone. Location of section line for Figure 3 indicated.

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Figure 3 – Section looking north highlighting the drill holes at Huancarama reported in this release. Light red 3D shapes show preliminary shape of breccias based on all drill holes.

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Figure 4 – Map of Paloma and drill hole lithology in holes completed to date. Location of section line for Figure 5 indicated.

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Figure 5 – Section looking northwest highlighting the drill holes at Paloma East reported in this release. Light red 3D shapes show preliminary shape of breccias based on all drill holes.

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Figure 6 – Huancarama core photos from drill holes reported in this release: SDH21-176 (154.0m) Tourmaline breccia replaced by chalcopyrite-pyrite; SDH21-176 (212.9m) Tourmaline breccia with selective clast replacement by chalcopyrite; SDH21-187 (197.7m) Tourmaline breccia with coarse chalcopyrite cement (open space filling); SDH21-187 (279.25m) and SDH21-187 (279.95m) Tourmaline-replace mosaic breccia with chalcopyrite-cemented matrix (note euhedral quartz crystals). Core diameter is 6.35cm (HQ) in all instances.

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Figure 7 – Paloma East core photos from drill holes reported in this release: SDH21-181 (116.3m) Mosaic breccia clasts replaced by chalcopyrite-pyrite; SDH21-181 (187.0m) Tourmaline breccia with clasts of banded siderite; SDH21-188 (78.3m) Tourmaline mosaic breccia with coarse chalcopyrite cement (left) and pyrite clast replacement (right); SDH21-187 (279.25m) Pyrite-replaced tourmaline breccia typical of the deeper parts of Paloma East (note euhedral pyrite crystals). Core diameter is 6.35cm (HQ) in all instances.

Medical Cannabis Company Performance Vs. Recreational Stock Performance?

 


Distinctly Different Cannabis Strains for Investors to Consider

 

Marijuana’s prevalence in everyday life continues to increase as the march toward legalization continues. In varying degrees, 34 U.S. states now allow medical or recreational use within their borders. As the trend mounts toward reducing or eliminating prohibitions, potentially even federal laws, investors are looking to determine the value and the segments within the industry’s verticals that could provide the best performance. The potential for both the medical and recreational marijuana business is staggering. Currently, unlawful cannabis sales are estimated to be more than $100 billion each year. The legal industry is catching up. The BDSA, which keeps data for the Cannabis industry, predicts that by 2026 the legal U.S. cannabis market will reach $41 billion in annual sales. This is roughly the size of the craft beer industry.

Different Branches

There are two main branches that make up the growing use. They are recreational and medical. The two represent distinctly different investment growth opportunities with different potential. Recreational marijuana has a wider audience and hence a larger potential market as compared to medical cannabis. The recreational market is often referred to as an adult-use market as it is age-restricted in states that allow marijuana. Medical cannabis is extracted and studied for its health and potentially curative benefits. There is obviously a wider audience for recreational use, consumed solely for enjoyment. The consumer base for research, development and medical benefits is naturally smaller.

Although there are still lingering stereotypes surrounding marijuana, investors are active based on their risk profile and profit appetite. Allocating a portion of one’s portfolio in what is becoming less speculative with an eye towards growth will continue along the two different paths – medical and recreational.

Medical Companies vs. Recreational Companies

The companies focused on adult-use have generally been performing better than on medical cannabis for a number of reasons. One reason is that for users to access medical cannabis, they run up against more restrictions, including the prescription requirement and medical legalization in their state. Recreational marijuana, as pointed out earlier, when comparing growth to the craft beer industry, has more potential as users. Legality and age are the largest barriers.  Another key difference is the payback for medical marijuana research and development takes more time and is still considered in its infancy.

The medical marijuana stocks are evaluated with a similar methodology as those of the pharmaceutical industry. As an investor of a marijuana stock, taking an interest in the company’s research and drug pipeline is of high importance. Potential investors of medical marijuana can invest in the stocks of companies that either has medical marijuana available in the market or those that are researching the same. Some cannabis stocks are traded on the U.S. and Canadian exchanges; many offerings are available over the counter (OTC). It’s important to remember that marijuana is still officially a controlled substance and has not yet been approved as a whole in the U.S.

Recreational marijuana is taxed in states that have legalized the product which is a consideration for investors. Medical marijuana does not usually carry the sales tax burden as most are incorporated in the health care system. This impacts the cost which reflects on ultimate sales in either category.

 

 

Marijuana Business Risks

Marijuana stocks are unique because the products they design and sell are only partially legal and presumed (no guarantees) to be on their way to broader legality and legitimacy. The publicly traded companies are younger and generally small, so uncovering quality research on businesses in their infancy and in a field that is growing at a rapid pace in different directions is imperative for investors.

The stocks can be volatile as the political environment from state to state and country to country can change the outlook for the industry. This is certainly the case in states like the United States.

Take-Away

The marijuana sector is receiving significant attention from stock market investors. Whether the companies are involved in recreational, medical, or both, they are non-traditional plays covering new ground. This is where potential is usually at its highest for investors in any industry. There have been many leaps forward and will continue to be setbacks. Obtaining top-tier research to better understand exactly what business a company is in and the competition and legal framework under which they operate is critical to investing with both eyes open.  

Suggested Reading:

The Future of Cannabis Crosses Many Industries

The Advantages of Microcap Equities for Investors



The Case for Higher Uranium Prices

What is the Approval Process for Medical Devices?

 

Sources:

https://bdsa.com/

https://www.forbes.com/sites/willyakowicz/2021/03/03/us-cannabis-sales-hit-record-175-billion-as-americans-consume-more-marijuana-than-ever-before/?sh=414178c02bcf

Photo Credit: By Jurassic Blueberrys  https://creativecommons.org/licenses/by/2.0/

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Namaste Technologies (NXTTF)(N:CA) – Reports First Quarter 2021 Financial Results


Namaste Technologies Reports First Quarter 2021 Financial Results

 

  • Increased Revenue While Substantially Decreasing Operating Expenses
  • Cannabis Revenue Increased by 113% in Q1 2021 Compared to Q1 2020

TORONTO, April 28, 2021 (GLOBE NEWSWIRE) — Namaste Technologies Inc. (“Namaste” or the “Company”) (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF) a marketplace platform for cannabis and wellness products, today reported its financial results for the first quarter ended February 28, 2021 (“Q1 2021”) with references made to financial results for the first quarter ended February 29, 2020 (“Q1 2020”). All financial figures are in Canadian dollars unless otherwise indicated.

Q1 2021 Highlights:

  • Net cash used in operating activities decreased by $7.5 million to $2.5 million in Q1 2021 vs. Q1 2020, reflecting improved management of our short term assets.
  • Gross revenue for Q1 2021 was $6.15 million ($5.46 million Q1 2020), representing an increase of 13% while operating expenses decreased by 10.9% over the same period.
  • Net revenue for Q1 2021 was $5.5 million ($5.3 million in Q1 2020).
  • Cannabis revenue increased by 113% vs the same quarter last year, and maintained its strong position at 47% of total net revenues, the second highest percentage for cannabis revenue out of total net revenue achieved in the last four quarters.
  • Inventories decreased by 33% to $5.9 million in Q1 2021 ($8.8 million in Q1 2020) with increased revenues, demonstrating improved inventory management practices implemented as a key initiative to reduce slow moving inventory in 2020.
  • Accounts receivables decreased 22% in Q1 2021 vs. Q1 2020 despite an increase in sales, illustrating our ability to convert short term assets into cash much more efficiently.
  • The Company’s working capital position remains strong at $31 million as at February 28, 2021 bolstered by the closing of a bought deal financing of $23 million (approximately $21 million net of all fees, costs and expenses).

Re cent Corporate Highlights:

  • Announced the addition of leading licensed producers to the CannMart.com platform including: Auxly Cannabis Group, Hexo Corp and The Green Organic Dutchman Holdings (TGOD).
  • Announced that CannMart Inc., the Company’s wholly-owned subsidiary, has expanded its product offering to both our provincial customers who retain exclusive rights to sell to recreational consumers and to our own medical customers across Canada via CannMart.com, by entering into a number of supply agreements including with CannTx Life Sciences Inc., Rilaxe Canna Inc. and Safari Flower Co.
  • Launched CannMart.com into the USA offering American resident hemp derived CBD and smoking accessories.
  • Received a standard processing licence from Health Canada for CannMart Labs Inc. (“Labs”), the Company’s wholly owned subsidiary with its state-of-the-art BHO extraction facility.
  • Announced the Company’s evolution into a pre-eminent wellness company, connecting consumers to their wellness needs of tomorrow, with planned expansion into the nutraceuticals market in fiscal year 2021.
  • Completed the acquisition of 49% interest in Labs to take the Company to 100% ownership.

“We continue to transform CannMart.com which saw sales increase in Q1 2021 compared to the prior year as we see an increased number of vendors looking to sell their cannabis and accessories with us,” said Meni Morim, CEO of Namaste. “While our marketplace platform is demonstrating strong growth, the impact of Covid-19 lockdowns across Canada continues to be felt by the cannabis industry. However, we believe the marketplace and the Company remains well-positioned to experience a robust increase in our top-line as the market improves. Going forward, we are excited about the strategic opportunities for growth as we launch “Roilty”, our in-house branded cannabis consumer products, in Canada, and launch the first nutraceutical products in fiscal 2021 in North America and anticipate a launch in the UK and Europe thereafter.”

Mr. Morim further stated: “Over the past four quarters, one of our goals was to “do more with less” and substantially reduce our burn. I am thrilled to say that we have succeeded in bringing down our operating expenses substantially in the past quarter. One of our goals over the next few quarters is to make the necessary adjustments to our product mix so we can continue the work towards improving our gross margins. Labs’s upcoming commercial production and our soon to be launched nutraceuticals division are two such strategies we will be deploying. In addition, we have introduced operating procedures setting goals of 40-day inventory turns which we believe will further contribute to improved margins. We continue to focus on our goal to be cash flow positive. With our recent financing, the Company is in a strong financial position as Namaste continues its evolution to be the world’s foremost personalized wellness marketplace.”

For further details, the complete Financial Statements for the first quarter ended February 28, 2021 and the related Management’s Discussion & Analysis can be accessed on the Company’s SEDAR profile at www.sedar.com.

Labs Update:

Labs has completed phase one of its work following receipt of Health Canada’s standard processing licence, of installation and balancing of HVAC and GMP equipment. Labs is entering Phase two of commissioning activity, with the Company now expecting Labs products to go to market by the third fiscal quarter 2021.

Namaste Virtual Town Hall:

The Company would like to invite shareholders and guests to participate in attending a virtual town hall to hear a presentation on the progress made by the Company.  

  • Thursday, May 6, 2021
  • 12:00 p.m. EST
  • Presentation by Meni Morim followed by Q&A
  • All Shareholders are invited to submit their questions by May 3rd to: [email protected]. Our CEO, Meni Morim, will answer submitted investors questions during the town hall event.
  • Shareholders can access the event using the following link: http://bofc.me/may6townhall

NON IFRS FINANCIAL MEASURES

Management evaluates the Company’s performance using a variety of measures, including “Net loss before income tax, depreciation and amortization” and “Adjusted EBITDA”. The non-IFRS measures discussed below should not be considered as an alternative to or to be more meaningful than revenue or net loss. These measures do not have a standardized meaning prescribed by IFRS and therefore they may not be comparable to similarly titled measures presented by other publicly traded companies and should not be construed as an alternative to other financial measures determined in accordance with IFRS.

The Company believes these non-IFRS financial measures provide useful information to both management and investors in measuring the financial performance and financial condition of the Company.

Management uses these and other non-IFRS financial measures to exclude the impact of certain expenses and income that must be recognized under IFRS when analyzing consolidated underlying operating performance, as the excluded items are not necessarily reflective of the Company’s underlying operating performance and make comparisons of underlying financial performance between periods difficult. From time to time, the Company may exclude additional items if it believes doing so would result in a more effective analysis of underlying operating performance. The exclusion of certain items does not imply that they are non-recurring.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f090bdde-878d-4d4b-9403-9206df82fc9b

(i) Current and deferred income taxes, depreciation and amortization, and share-based compensation were excluded from the Adjusted EBITDA calculation as they do not represent cash expenditures.

(ii) Other income consisting of gain on disposal of subsidiary, interest income, realized gain on disposition of AFS investments, unrealized gain on derivatives and other miscellaneous non-recurring income were excluded from Adjusted EBITDA calculation.

(iii) Non-recurring costs related to restructuring and legacy issues were excluded from Adjusted EBITDA calculation.

(iv) Impairment loss relating to goodwill, customer list, domains and brand names were excluded from Adjusted EBITDA calculation.

(v) Impairment loss relating to receivable is a provision for expected credit loss to an associate and was excluded from Adjusted EBITDA calculation.

(vi) Share of associates loss, net of tax, is excluded due to lack of control.

About Namaste Technologies Inc.

Headquartered in Toronto, Canada, Namaste Technologies is a marketplace platform for cannabis and wellness products. At CannMart.com, the Company provides Canadian medical customers with a diverse selection of hand-picked products from a multitude of federally licensed cultivators and US customers with access to hemp-derived CBD and smoking accessories. The Company also distributes licensed and in-house branded cannabis and cannabis derived products in Canada through a number of provincial government control boards and retailing bodies and facilitates licensed cannabis retailer sales online in Saskatchewan. Namaste’s global technology and continuous innovation address local needs in a burgeoning cannabis industry requiring smart solutions.

Information on the Company and its many products can be accessed through the links below:

NamasteTechnologies.com

NamasteMD.com

Cannmart.com

For more information please contact:
Namaste Technologies Inc.
Meni Morim, CEO
Edward Miller, VP Investor Relations
Ph: 647-362-0390
Email: [email protected] 

Source: Namaste Technologies Inc

FORWARD-LOOKING INFORMATION – This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not historical in nature contain forward-looking information. Forward-looking information can be identified by words or phrases such as “may”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen.

The forward-looking information contained herein, including, without limitation, statements related to the Company’s expectations relating to increasing top line revenue, its intended adjustment to its product mix, the Company’s expected launch of new products and the creation of its new nutraceutical division, the anticipated commercial production at Labs, the Company’s continued focus on improving margins toward its goal to be cash flow positive , and its continued intent on building the world’s foremost personalized wellness marketplace are made as of the date of this press release and is based on assumptions management believed to be reasonable at the time such statements were made, including, without limitation, Namaste’s ability to maintain momentum of expanding its business, its ability to broaden its total addressable market and to evolve into a recognized wellness company, the Company’s expectation that the nutraceutical and wellness market and potentially the market for psychedelics will develop as currently anticipated, the nutraceutical market will continue to be a multi-billion dollar high-margin market, the introduction of new products and brands will generate additional revenue, the ability of the Company to turn inventory as anticipated, the impact and duration of covid-19 lockdowns on the business of the Company diminishing in the future, as well as other considerations that are believed to be appropriate in the circumstances. While we consider these assumptions to be reasonable based on information currently available to management, there is no assurance that such expectations will prove to be correct. By its nature, forward-looking information is 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. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this press release. Such factors include, without limitation: the inability of the Company to develop its business as anticipated and to increase revenues and/or its profitable margin on such revenues, unanticipated changes to current regulations that would adversely impact the Company’s business and proposed business and other regulatory risks, risks relating to the Company’s ability to execute its business strategy and the benefits realizable therefrom and risks specifically related to the Company’s operations. Additional risk factors can also be found in the Company’s current MD&A and annual information form, both of which have been filed under the Company’s SEDAR profile at www.sedar.com. Readers are cautioned not to put undue reliance on forward-looking information. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

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 or has in any way approved or disapproved of the contents of this press release.

Source: Namaste Technologies Inc.

Release – Namaste Technologies (NXTTF)(N:CA) – Reports First Quarter 2021 Financial Results


Namaste Technologies Reports First Quarter 2021 Financial Results

 

  • Increased Revenue While Substantially Decreasing Operating Expenses
  • Cannabis Revenue Increased by 113% in Q1 2021 Compared to Q1 2020

TORONTO, April 28, 2021 (GLOBE NEWSWIRE) — Namaste Technologies Inc. (“Namaste” or the “Company”) (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF) a marketplace platform for cannabis and wellness products, today reported its financial results for the first quarter ended February 28, 2021 (“Q1 2021”) with references made to financial results for the first quarter ended February 29, 2020 (“Q1 2020”). All financial figures are in Canadian dollars unless otherwise indicated.

Q1 2021 Highlights:

  • Net cash used in operating activities decreased by $7.5 million to $2.5 million in Q1 2021 vs. Q1 2020, reflecting improved management of our short term assets.
  • Gross revenue for Q1 2021 was $6.15 million ($5.46 million Q1 2020), representing an increase of 13% while operating expenses decreased by 10.9% over the same period.
  • Net revenue for Q1 2021 was $5.5 million ($5.3 million in Q1 2020).
  • Cannabis revenue increased by 113% vs the same quarter last year, and maintained its strong position at 47% of total net revenues, the second highest percentage for cannabis revenue out of total net revenue achieved in the last four quarters.
  • Inventories decreased by 33% to $5.9 million in Q1 2021 ($8.8 million in Q1 2020) with increased revenues, demonstrating improved inventory management practices implemented as a key initiative to reduce slow moving inventory in 2020.
  • Accounts receivables decreased 22% in Q1 2021 vs. Q1 2020 despite an increase in sales, illustrating our ability to convert short term assets into cash much more efficiently.
  • The Company’s working capital position remains strong at $31 million as at February 28, 2021 bolstered by the closing of a bought deal financing of $23 million (approximately $21 million net of all fees, costs and expenses).

Re cent Corporate Highlights:

  • Announced the addition of leading licensed producers to the CannMart.com platform including: Auxly Cannabis Group, Hexo Corp and The Green Organic Dutchman Holdings (TGOD).
  • Announced that CannMart Inc., the Company’s wholly-owned subsidiary, has expanded its product offering to both our provincial customers who retain exclusive rights to sell to recreational consumers and to our own medical customers across Canada via CannMart.com, by entering into a number of supply agreements including with CannTx Life Sciences Inc., Rilaxe Canna Inc. and Safari Flower Co.
  • Launched CannMart.com into the USA offering American resident hemp derived CBD and smoking accessories.
  • Received a standard processing licence from Health Canada for CannMart Labs Inc. (“Labs”), the Company’s wholly owned subsidiary with its state-of-the-art BHO extraction facility.
  • Announced the Company’s evolution into a pre-eminent wellness company, connecting consumers to their wellness needs of tomorrow, with planned expansion into the nutraceuticals market in fiscal year 2021.
  • Completed the acquisition of 49% interest in Labs to take the Company to 100% ownership.

“We continue to transform CannMart.com which saw sales increase in Q1 2021 compared to the prior year as we see an increased number of vendors looking to sell their cannabis and accessories with us,” said Meni Morim, CEO of Namaste. “While our marketplace platform is demonstrating strong growth, the impact of Covid-19 lockdowns across Canada continues to be felt by the cannabis industry. However, we believe the marketplace and the Company remains well-positioned to experience a robust increase in our top-line as the market improves. Going forward, we are excited about the strategic opportunities for growth as we launch “Roilty”, our in-house branded cannabis consumer products, in Canada, and launch the first nutraceutical products in fiscal 2021 in North America and anticipate a launch in the UK and Europe thereafter.”

Mr. Morim further stated: “Over the past four quarters, one of our goals was to “do more with less” and substantially reduce our burn. I am thrilled to say that we have succeeded in bringing down our operating expenses substantially in the past quarter. One of our goals over the next few quarters is to make the necessary adjustments to our product mix so we can continue the work towards improving our gross margins. Labs’s upcoming commercial production and our soon to be launched nutraceuticals division are two such strategies we will be deploying. In addition, we have introduced operating procedures setting goals of 40-day inventory turns which we believe will further contribute to improved margins. We continue to focus on our goal to be cash flow positive. With our recent financing, the Company is in a strong financial position as Namaste continues its evolution to be the world’s foremost personalized wellness marketplace.”

For further details, the complete Financial Statements for the first quarter ended February 28, 2021 and the related Management’s Discussion & Analysis can be accessed on the Company’s SEDAR profile at www.sedar.com.

Labs Update:

Labs has completed phase one of its work following receipt of Health Canada’s standard processing licence, of installation and balancing of HVAC and GMP equipment. Labs is entering Phase two of commissioning activity, with the Company now expecting Labs products to go to market by the third fiscal quarter 2021.

Namaste Virtual Town Hall:

The Company would like to invite shareholders and guests to participate in attending a virtual town hall to hear a presentation on the progress made by the Company.  

  • Thursday, May 6, 2021
  • 12:00 p.m. EST
  • Presentation by Meni Morim followed by Q&A
  • All Shareholders are invited to submit their questions by May 3rd to: [email protected]. Our CEO, Meni Morim, will answer submitted investors questions during the town hall event.
  • Shareholders can access the event using the following link: http://bofc.me/may6townhall

NON IFRS FINANCIAL MEASURES

Management evaluates the Company’s performance using a variety of measures, including “Net loss before income tax, depreciation and amortization” and “Adjusted EBITDA”. The non-IFRS measures discussed below should not be considered as an alternative to or to be more meaningful than revenue or net loss. These measures do not have a standardized meaning prescribed by IFRS and therefore they may not be comparable to similarly titled measures presented by other publicly traded companies and should not be construed as an alternative to other financial measures determined in accordance with IFRS.

The Company believes these non-IFRS financial measures provide useful information to both management and investors in measuring the financial performance and financial condition of the Company.

Management uses these and other non-IFRS financial measures to exclude the impact of certain expenses and income that must be recognized under IFRS when analyzing consolidated underlying operating performance, as the excluded items are not necessarily reflective of the Company’s underlying operating performance and make comparisons of underlying financial performance between periods difficult. From time to time, the Company may exclude additional items if it believes doing so would result in a more effective analysis of underlying operating performance. The exclusion of certain items does not imply that they are non-recurring.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f090bdde-878d-4d4b-9403-9206df82fc9b

(i) Current and deferred income taxes, depreciation and amortization, and share-based compensation were excluded from the Adjusted EBITDA calculation as they do not represent cash expenditures.

(ii) Other income consisting of gain on disposal of subsidiary, interest income, realized gain on disposition of AFS investments, unrealized gain on derivatives and other miscellaneous non-recurring income were excluded from Adjusted EBITDA calculation.

(iii) Non-recurring costs related to restructuring and legacy issues were excluded from Adjusted EBITDA calculation.

(iv) Impairment loss relating to goodwill, customer list, domains and brand names were excluded from Adjusted EBITDA calculation.

(v) Impairment loss relating to receivable is a provision for expected credit loss to an associate and was excluded from Adjusted EBITDA calculation.

(vi) Share of associates loss, net of tax, is excluded due to lack of control.

About Namaste Technologies Inc.

Headquartered in Toronto, Canada, Namaste Technologies is a marketplace platform for cannabis and wellness products. At CannMart.com, the Company provides Canadian medical customers with a diverse selection of hand-picked products from a multitude of federally licensed cultivators and US customers with access to hemp-derived CBD and smoking accessories. The Company also distributes licensed and in-house branded cannabis and cannabis derived products in Canada through a number of provincial government control boards and retailing bodies and facilitates licensed cannabis retailer sales online in Saskatchewan. Namaste’s global technology and continuous innovation address local needs in a burgeoning cannabis industry requiring smart solutions.

Information on the Company and its many products can be accessed through the links below:

NamasteTechnologies.com

NamasteMD.com

Cannmart.com

For more information please contact:
Namaste Technologies Inc.
Meni Morim, CEO
Edward Miller, VP Investor Relations
Ph: 647-362-0390
Email: [email protected] 

Source: Namaste Technologies Inc

FORWARD-LOOKING INFORMATION – This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not historical in nature contain forward-looking information. Forward-looking information can be identified by words or phrases such as “may”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen.

The forward-looking information contained herein, including, without limitation, statements related to the Company’s expectations relating to increasing top line revenue, its intended adjustment to its product mix, the Company’s expected launch of new products and the creation of its new nutraceutical division, the anticipated commercial production at Labs, the Company’s continued focus on improving margins toward its goal to be cash flow positive , and its continued intent on building the world’s foremost personalized wellness marketplace are made as of the date of this press release and is based on assumptions management believed to be reasonable at the time such statements were made, including, without limitation, Namaste’s ability to maintain momentum of expanding its business, its ability to broaden its total addressable market and to evolve into a recognized wellness company, the Company’s expectation that the nutraceutical and wellness market and potentially the market for psychedelics will develop as currently anticipated, the nutraceutical market will continue to be a multi-billion dollar high-margin market, the introduction of new products and brands will generate additional revenue, the ability of the Company to turn inventory as anticipated, the impact and duration of covid-19 lockdowns on the business of the Company diminishing in the future, as well as other considerations that are believed to be appropriate in the circumstances. While we consider these assumptions to be reasonable based on information currently available to management, there is no assurance that such expectations will prove to be correct. By its nature, forward-looking information is 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. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this press release. Such factors include, without limitation: the inability of the Company to develop its business as anticipated and to increase revenues and/or its profitable margin on such revenues, unanticipated changes to current regulations that would adversely impact the Company’s business and proposed business and other regulatory risks, risks relating to the Company’s ability to execute its business strategy and the benefits realizable therefrom and risks specifically related to the Company’s operations. Additional risk factors can also be found in the Company’s current MD&A and annual information form, both of which have been filed under the Company’s SEDAR profile at www.sedar.com. Readers are cautioned not to put undue reliance on forward-looking information. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

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 or has in any way approved or disapproved of the contents of this press release.

Source: Namaste Technologies Inc.

Release – Chakana Copper (CHKKF)(PERU:CA) – Reports High-Grade Intersects


Chakana Reports High-Grade Intersects

 

125.0m of 0.63 g/t Au, 0.54% Cu, and 55.7 g/t Ag (1.43% Cu-eq); Including 15.0m of 2.29 g/t Au, 1.27% Cu, and 248.6 g/t Ag (4.89% Cu-eq) at Huancarama

Vancouver, British Columbia–(Newsfile Corp. – April 28, 2021) – Chakana Copper Corp. (TSXV: PERU) (OTCQB: CHKKF) (FSE: 1ZX) (the Company or Chakana“), is pleased to provide recently received drill results from eight exploration holes from Huancarama totaling 1,522.1m (Table 1) and five resource drill holes from Paloma East totaling 1,455.15m (Table 2). Drilling continues as part of a fully-funded 26,000m exploration and resource drilling program (Fig. 1).

David Kelley, President and CEO, commented, “It is great to see these strong results from both new exploration drilling and definition drilling. At Huancarama East, we are clearly defining a sizeable zone of copper-gold-silver mineralization that should feature prominently in our resource estimation plans. At Huancarama West, the exploration drilling continues to define shapes and continuity, while Paloma East has impressive significant near-surface mineralization and long runs of mineralization, including 163.9m of 0.42 g/t Au, 0.33% Cu, and 11.7 g/t Ag from surface in tourmaline breccia that is open at depth. The drill program continues to run smoothly with effective COVID protocols in place.”

Huancarama Exploration Drilling

Table 1. Mineralized intervals from Huancarama include:

DDH # From      –     To (m) Core Length (m) Au
g/t
Ag
g/t
Cu % Cu-eq
%*
Au-eq g/t*
SDH21-176 1.50 5.55 4.05 1.85 9.4 0.07
1.97
and 67.00 80.00 13.00 0.77 42.2 0.12
1.51
and 153.30 157.00 3.70 2.87 99.8 1.87 4.60 7.04
and 199.00 324.00 125.00 0.63 55.7 0.54 1.43 2.18
including 207.00 214.00 7.00 1.43 169.6 2.78 5.16 7.90
including 278.00 293.00 15.00 2.29 248.6 1.27 4.89 7.48
SDH21-177 21.10 29.00 7.90 1.36 8.4 0.17
1.73
and 41.70 44.60 2.90 1.55 4.6 0.02
1.61
and 118.70 122.00 3.30 0.19 67.4 0.32 1.02 1.56
SDH21-180 No Significant Results
SDH21-182 80.00 104.00 24.00 0.20 219.5 0.45 2.46 3.76
SDH21-183 96.00 113.00 17.00 0.63 143.5 1.94 3.58 5.47
SDH21-185 No Significant Results
SDH21-186 No Significant Results
SDH21-187 167.20 217.00 49.80 0.92 53.3 0.80 1.86 2.84
including 197.00 216.00 19.00 1.89 108.1 1.61 3.77 5.77
and 268.00 312.85 44.85 0.62 22.5 1.00 1.60 2.44

 

* Cu_eq and Au_eq values were calculated using copper, gold, and silver. Metal prices utilized for the calculations are Cu – US$2.90/lb, Au – US$1,300/oz, and Ag – US$17/oz. No adjustments were made for recovery as the project is an early-stage exploration project and metallurgical data to allow for estimation of recoveries are not yet available. The formulas utilized to calculate equivalent values are Cu-eq (%) = Cu% + (Au g/t * 0.6556) + (Ag g/t * 0.00857) and Au-eq (g/t) = Au g/t + (Cu% * 1.5296) + (Ag g/t * 0.01307).

Eight holes were drilled in the Huancarama Breccia Complex – seven holes were collared on the western side of the complex, and one hole was collared on the far eastern side (Figs. 2 and 3). Hole SDH21-176 started on the western side of the complex intercepting two breccias, then continued across to the east-southeast of the complex with continuous breccia encountered from 199.0 to 324.0m depth. Hole SDG21-187 was drilled to the southwest and intersected two continuous zones from 167.2m to 217.0m, and 268.0m to 312.85m depth. Given the grade and continuity of mineralization in the Huancarama East breccia pipe, resource drilling has been focused in this area. Examples of mineralized drill core from these holes are shown in Figure 6.

Paloma East Resource Drilling

Table 2. Mineralized intervals from resource drilling at Paloma East include:

DDH # From    –     To (m) Core Length (m) Au
g/t
Ag
g/t
Cu % Cu-eq
%*
Au-eq g/t*
SDH21-178 0.30 7.00 6.70 1.88 10.4 0.21 1.53 2.34
and 47.00 162.00 115.00 0.13 27.0 0.22 0.54 0.82
including 126.00 144.00 18.00 0.07 108.1 0.19 1.16
SDH21-179 53.00 144.00 91.00 0.13 16.5 0.50 0.73 1.11
and 213.00 217.40 4.40 0.65 85.9 0.29 1.45 2.22
SDH21-181 49.00 140.00 91.00 0.19 19.5 0.68 0.97 1.49
SDH21-184 3.25 132.00 128.75 0.38 11.4 0.21 0.56 0.85
and 161.30 173.00 11.70 0.17 14.9 0.38 0.62 0.95
SDH21-188 0.10 164.00 163.90 0.42 11.7 0.33 0.70 1.08
including 20.00 35.00 15.00 2.17 18.0 0.02
2.41
including 69.00 83.00 14.00 0.24 31.7 1.40 1.83 2.80

 

* Cu_eq and Au_eq values were calculated using copper, gold, and silver. Metal prices utilized for the calculations are Cu – US$2.90/lb, Au – US$1,300/oz, and Ag – US$17/oz. No adjustments were made for recovery as the project is an early-stage exploration project and metallurgical data to allow for estimation of recoveries are not yet available. The formulas utilized to calculate equivalent values are Cu-eq (%) = Cu% + (Au g/t * 0.6556) + (Ag g/t * 0.00857) and Au-eq (g/t) = Au g/t + (Cu% * 1.5296) + (Ag g/t * 0.01307).

At Paloma East, five holes were drilled as part of the resource drilling program (Figs. 4 and 5). Three holes were set up on the west side of the breccia pipe and drilled to the east, and two holes were set up on the northeast side and drilled to the southwest. Shallow mineralization was encountered in all five holes. Hole SDH21-188 intersected 163.9m of mineralized breccia starting at surface, then continued to the southwest where strongly pyritic breccia was encountered at depth. Examples of mineralized drill core from these holes are shown in Figure 7. Additional infill drilling is being planned for the shallow mineralized zone at Paloma East.

2021 Resource and Exploration Drill Program

Results reported here are part of the fully funded 2021 drill program of 26,000m. Combined with the drilling in the second half of 2020 approximately 32,000m is anticipated through 2021. Of this, 11,062.5m have been reported in 56 drill holes for the Paloma and Huancarama areas. For the 26,000m of drilling planned in 2021, the Company will complete approximately 16,000m of resource definition drilling. This drill program will be integral to the publication of a maiden resource in 2021.

Additionally, 10,000m of exploration drilling is planned for 2021. This will focus on new targets located in the northern portion of the project that have not been drilled previously but are strategic to any eventual development at Soledad. A strategic review of exploration targets is underway and plans are currently being finalized with an update to shareholders to follow.

About Chakana Copper

Chakana Copper Corp is a Canadian-based minerals exploration company that is currently advancing the Soledad Project located in the Ancash region of Peru, a highly favorable mining jurisdiction with supportive communities. The Soledad Project consists of high-grade gold-copper-silver mineralization hosted in tourmaline breccia pipes. A total of 45,061 metres of drilling has been completed to date, testing ten (10) of twenty-three (23) confirmed breccia pipes. The exploration team has identified 110 targets in total on the project, confirming that Soledad is a large, well-endowed mineral system with strong exploration upside. Chakana’s investors are uniquely positioned as the Soledad Project provides exposure to several metals including copper, gold, and silver. For more information on the Soledad project, please visit the website at www.chakanacopper.com.

Sampling and Analytical Procedures

Chakana follows rigorous sampling and analytical protocols that meet or exceed industry standards. Core samples are stored in a secured area until transport in batches to the ALS facility in Callao, Lima, Peru. Sample batches include certified reference materials, blank, and duplicate samples that are then processed under the control of ALS. All samples are analyzed using the ME-MS41 (ICP technique that provides a comprehensive multi-element overview of the rock geochemistry), while gold is analyzed by AA24 and GRA22 when values exceed 10 g/t by AA24. Over limit silver, copper, lead and zinc are analyzed using the OG-46 procedure. Soil samples are analyzed by 4-acid (ME-MS61) and for gold by Fire Assay on a 30g sample (Au-ICP21).

Results of previous drilling and additional information concerning the Project, including a technical report prepared in accordance with National Instrument 43-101, are made available on Chakana’s SEDAR profile at www.sedar.com.

Qualified Person

David Kelley, an officer and a director of Chakana, and a Qualified Person as defined by NI 43-101, reviewed and approved the technical information in this news release.

ON BEHALF OF THE BOARD
(signed) “David Kelley
David Kelley
President and CEO

For further information contact:
Joanne Jobin, Investor Relations Officer
Phone: 647 964 0292
Email: [email protected]

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

Forward-looking Statement Advisory: This release may contain forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Chakana to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Forward looking statements or information relates to, among other things, the interpretation of the nature of the mineralization at the Soledad copper-gold-silver project (the “Project”), the potential to expand the mineralization, and to develop and grow a resource within the Project, the planning for further exploration work, the ability to de-risk the potential exploration targets, and our belief in the potential for mineralization within unexplored parts of the Project. These forward-looking statements are based on management’s current expectations and beliefs but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward- looking statements or information. The Company disclaims any obligation to update, or to publicly announce, any such statements, events or developments except as required by law.

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Figure 1 – View looking north showing breccia pipes and occurrences within the northern Soledad cluster. Pipes that have been drilled in previous campaigns are shown in red. Outcropping breccia pipes shown in green are the focus of the current drill campaign. Other pipes and occurrences remain to be tested by drilling. Additional breccia pipes occur on the south half of the property and are not shown here.

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Figure 2 – Map of the Huancarama Breccia Complex and drill hole lithology in holes completed to date. Red shapes projected to surface represents tourmaline breccia pipes based on all holes drilled to date and lithology mapped in the underground tunnel. Black dotted outlines show surface expression of mapped breccias (H1-H5); white dashed line shows collapse zone. Location of section line for Figure 3 indicated.

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Figure 3 – Section looking north highlighting the drill holes at Huancarama reported in this release. Light red 3D shapes show preliminary shape of breccias based on all drill holes.

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Figure 4 – Map of Paloma and drill hole lithology in holes completed to date. Location of section line for Figure 5 indicated.

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Figure 5 – Section looking northwest highlighting the drill holes at Paloma East reported in this release. Light red 3D shapes show preliminary shape of breccias based on all drill holes.

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Figure 6 – Huancarama core photos from drill holes reported in this release: SDH21-176 (154.0m) Tourmaline breccia replaced by chalcopyrite-pyrite; SDH21-176 (212.9m) Tourmaline breccia with selective clast replacement by chalcopyrite; SDH21-187 (197.7m) Tourmaline breccia with coarse chalcopyrite cement (open space filling); SDH21-187 (279.25m) and SDH21-187 (279.95m) Tourmaline-replace mosaic breccia with chalcopyrite-cemented matrix (note euhedral quartz crystals). Core diameter is 6.35cm (HQ) in all instances.

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Figure 7 – Paloma East core photos from drill holes reported in this release: SDH21-181 (116.3m) Mosaic breccia clasts replaced by chalcopyrite-pyrite; SDH21-181 (187.0m) Tourmaline breccia with clasts of banded siderite; SDH21-188 (78.3m) Tourmaline mosaic breccia with coarse chalcopyrite cement (left) and pyrite clast replacement (right); SDH21-187 (279.25m) Pyrite-replaced tourmaline breccia typical of the deeper parts of Paloma East (note euhedral pyrite crystals). Core diameter is 6.35cm (HQ) in all instances.

Release – Driven By Stem (STMH) – Expanding into Michigan the Fourth-Largest U.S. Cannabis Market – Teaming Up with Organic Guyz

 


Driven By Stem is Expanding into Michigan, the Fourth-Largest U.S. Cannabis Market – Teaming Up with Organic Guyz

 

New Dispensary Location Opening in Kalamazoo


Launch of Budee™ Home Delivery Statewide to Bring Great Brands and Products to Michigan Market

BOCA RATON, Fla.April 28, 2021 /PRNewswire/ — Stem Holdings, Inc. d/b/a Driven by Stem (OTCQX: STMH) (CSE: STEM) (the “Company” or “Stem“), the first multi-state, vertically integrated Farm-to-Home™ (F2H) cultivation and technology omnichannel cannabis company featuring a proprietary Delivery-as-a-Service (DaaS) marketplace platform, today announced that it has teamed up with Organic Guyz, a Michigan Cannabis company, for the opening of its newest dispensary in the heart of Kalamazoo, Michigan this June. In addition, Stem will introduce its Budee e-commerce and delivery platform for the first time in the Midwest, in order to service the entire state of Michigan with future plans for expansion in adjacent markets.

Stem is a Farm-to-Home™ multi-state operator with dispensaries in three other states.  This will be the second Stem branded dispensary in the country.  Stem’s acquisition of Driven Deliveries in December 2020 added Budee’s omnichannel technology to its existing retail operations, enabling Stem to deliver to 92% of California residents with plans for expansion to other states including Michigan. Stem chose to expand to Michigan because of increased demand for home delivery in that state due to an expanding cannabis market, which has doubled in the last 12 months.1

“We have targeted Michigan as a growth market for Stem, recognizing the 179% increase in sales there last year.2 It remains an underserved opportunity and we are excited to work with Organic Guyz to offer the best line-up of products available in the state,” stated Adam Berk, CEO of Stem. “Cannabis sales of $1.2 billion are projected in Michigan next year including both recreational and medical cannabis,3 and we are uniquely poised to service that market based on our operational experience,” he continued. “Collectively, we are building a new dispensary as the first step in our plan there.  Our ability to deliver the customer experience demanded by cannabis connoisseurs will allow us to quickly penetrate the market in Kalamazoo which has just 22 dispensaries and deliver locally and statewide to meet this growing demand with our Budee platform,” he concluded.

Stem cultivates cannabis and hemp within its facilities on the West Coast, and its family of brands includes flower, pre-roll, edibles, concentrates and tinctures with disruptive new products launching this year as Stem expands the footprint of its brands. 

“We are excited to work with the Stem team, and we share their passion and commitment to quality and service,” stated Concetta Mazzetti, Organic Guyz’s head of operations. “Stem’s proven track record of success in other markets, and their dynamic approach to cannabis, were key factors in our decision to move forward together,” she concluded.

The new Stem dispensary will be over 2500 square feet, and will be located on Portage Street, conveniently located near major roadways.  There is sufficient parking for the delivery drivers since this is going to be one of our major delivery hubs for the state.  An integrated marketing effort is planned for the grand opening which is anticipated to occur in Summer 2021.

About Stem Holdings, Inc.

Stem is a leading omnichannel, vertically-integrated cannabis branded products and technology company with state-of-the-art cultivation, processing, extraction, retail, distribution, and delivery-as-a-service (DaaS) operations throughout the United States. Stem’s family of award-winning brands includes TJ’s Gardens™, TravisxJames™, and Yerba Buena™ flower and extracts; Cannavore™ edible confections; Doseology™, a CBD mass-market brand launching in 2021; as well as DaaS brands Budee™ and Ganjarunner™ through the acquisition of Driven Deliveries. Budee™ and Ganjarunner™ e-commerce platforms provide direct-to consumer proprietary logistics and an omnichannel UX (user experience)/CX (customer experience).

Forward-Looking Statements
This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company’s current expectations.  When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release includes information relating to: (i) the implementation of the Company’s business plan; (ii) the expected expansion of the Michigan cannabis market; (iii) the expected opening of a dispensary in Michigan and the expected delivery activities in such state; and (iv) the potential expansion of the deliver business to adjacent states.

By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.  Such factors include, among others, the following risks: risks associated with the implementation of the Company’s business plan and matters relating thereto, risks associated with the cannabis industry, competition, regulatory change, the need for additional financing, reliance on key personnel, the potential for conflicts of interest among certain officers or directors, insurance, intellectual property and reliable supply chains; and risks related to the Company and its business generally. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made, and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change.  Investors are cautioned against attributing undue certainty to forward-looking statements.

For further information, please contact:

Media Contact: 
Mauria Betts 
STEM HOLDINGS, INC. 
[email protected]
971.319.0303

Investor Contact:
Valter Pinto / Elizabeth Barker
[email protected]
212.896.1254 / 212-896-1203

1 Source: https://www.metrotimes.com/detroit/michigans-legal-marijuana-industry-hits-record-sales-buoyed-by-new-products/Content?oid=26891892
2 Source: https://www.newcannabisventures.com/michigan-cannabis-sales-soar-179-to-record-146-million-in-march/
3 Source: https://www.mlive.com/public-interest/2021/04/michigan-marijuana-sales-break-1-billion-pace-insiders-expect-record-breaking-april.html  

SOURCE Stem Holdings, Inc.

Release – Ocugen (OCGN) – Announces Closing of $100 Million Registered Direct Offering of Common Stock Priced at a Premium to Market


Ocugen Inc. Announces Closing of $100 Million Registered Direct Offering of Common Stock Priced at a Premium to Market

 

MALVERN, Pa., April 28, 2021 (GLOBE NEWSWIRE) — Ocugen, Inc. (Nasdaq: OCGN), a biopharmaceutical company focused on discovering, developing, and commercializing gene therapies to cure blindness diseases and developing a vaccine to save lives from COVID-19, today announced that it has closed the previously announced registered direct offering with healthcare-focused institutional investors for the sale of an aggregate of 10 million shares of its common stock at a purchase price of $10 per share.

H.C. Wainwright & Co. acted as the exclusive placement agent for the offering. Roth Capital Partners acted as financial advisor to Ocugen.

The gross proceeds of the offering were approximately $100 million, prior to deducting placement agent’s fees and other offering expenses payable by Ocugen. Ocugen intends to use the net proceeds from the offering for general corporate purposes, capital expenditures, working capital and general and administrative expenses.

The shares of common stock described above were offered pursuant to an automatic “shelf” registration statement (File No. 333-254550) filed with the Securities and Exchange Commission (“SEC”) on March 22, 2021 which automatically became effective pursuant to SEC rules. Such shares of common stock were offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and the accompanying prospectus relating to the offering of the shares of common stock was filed with the SEC. Electronic copies of the final prospectus supplement and the accompanying prospectus relating to the offering of the shares of common stock may be obtained on the SEC’s website at http://www.sec.gov or by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by e-mail: [email protected] or by telephone: (646) 975-6996.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About Ocugen, Inc.

Ocugen, Inc. is a biopharmaceutical company focused on discovering, developing, and commercializing gene therapies to cure blindness diseases and developing a vaccine to save lives from COVID-19. Our breakthrough modifier gene therapy platform has the potential to treat multiple retinal diseases with one drug – “one to many,” and our novel biologic product candidate aims to offer better therapy to patients with underserved diseases such as wet age-related macular degeneration, diabetic macular edema, and diabetic retinopathy. We are co-developing Bharat Biotech’s COVAXIN™ vaccine candidate for COVID-19 in the U.S. market. For more information, please visit www.ocugen.com.

Cautionary Note on Forward-Looking Statements

This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, which are subject to risks and uncertainties. Such forward-looking statements within this press release include, without limitation, the intended use of net proceeds from the registered direct offering. We may, in some cases, use terms such as “predicts,” “believes,” “potential,” “proposed,” “continue,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. Such statements are subject to numerous important factors, risks and uncertainties that may cause actual events or results to differ materially from our current expectations, such as market and other conditions. These and other risks and uncertainties are more fully described in our periodic filings with the Securities and Exchange Commission (the “SEC”), including the risk factors described in the section entitled “Risk Factors” in the quarterly and annual reports that we file with the SEC. Any forward-looking statements that we make in this press release speak only as of the date of this press release. Except as required by law, we assume no obligation to update forward-looking statements contained in this press release whether as a result of new information, future events or otherwise, after the date of this press release.

Ocugen Contact:
Ocugen, Inc.
Sanjay Subramanian
CFO and Head of Corp. Dev.
[email protected]


Media Contact:
LaVoieHealthScience
Lisa DeScenza
[email protected]
+1 9783955970

Release – Palladium One Mining (NKORF)(PDM:CA) – Intersects Massive Sulphides in Multiple Holes at Tyko Nickel-Copper Project, in Ontario


Palladium One Intersects Massive Sulphides in Multiple Holes at Tyko Nickel-Copper Project, in Ontario

 

Toronto, Ontario–(Newsfile Corp. – April 28, 2021) – Multiple massive sulphide intersections have been intersected in the Phase II Tyko drill program said Palladium One Mining (TSXV: PDM) (FSE: 7N11) (OTCQB: NKORF) (“Palladium One” or the “Company”) today. The Phase II program was designed to test the down dip continuity of the Electomagnetic (“EM”) Maxwell Plate “Plate” that was modelled subsequent to the Q4 2020 Phase I drill program.

A total of 14 holes were completed, 11 of which intersected massive and/or semi-massive sulphide mineralization at the Smoke Lake Zone, which previously returned up to 9.9% Ni_Eq over 3.8 metres (see press release January 19, 2021)

Key Highlights:

  • Drilling has confirmed continuity along the 350-meter strike length increasing the scale of known nickel-copper mineralization.
  • The ‘lower conductor’ has been confirmed to host massive to semi massive sulphide mineralization, thus potentially adding additional high-grade intercepts.
  • 11 drill holes intersected massive or semi-massive sulphide mineralization ranging from 1.3 to 5.0 meters in length.
  • The zone remains open to the northwest.

President and CEO, Derrick Weyrauch commented, “We are extremely pleased to have extended known mineralization in the Phase II drill program at Smoke Lake. Drilling has been suspended due to significant equipment issues and the spring thaw. Prior to the resumption of drilling, we plan to conduct additional EM surveys with the objective of extending the existing Plate(s) and refining future drill locations. The lower conductor remains open to the northwest and drilling has shown it to be a continuation of sulphide lens we intersected at surface in the Phase I program. We are eagerly awaiting first assay results form the lab.”

The most significant result of Phase II drill program was the linking of massive sulphide mineralization in the ‘upper conductor’ with the ‘lower conductor’ (Figure 1.) The Upper Conductor was the primary focus of the Phase I drill program, with the Lower Conductor only having been tested with one drill hole (TK-20-024) which returned 6.27% Ni_Eq over 0.9 meters (see press release January 19, 2021).

The Phase II drill program indicates a continuous elongate lens of sulphide mineralization joining the upper and lower conductors that dips to the west and plunge to northwest. This sulphide mineralization appears to be remobilized and injected into the tonalite host rocks cross cutting the foliation in the tonalite (Figure 6) and containing well-rounded tonalite and biotite altered hornblendite clasts. The focus of the upcoming geophysical programs will be to continue to trace the Smoke Lake sulphide lens to depth and identify the source of this remobilized sulphide mineralization, as well look for other zones of nickel-copper sulphide mineralization on the 20,000-hectare Tyko property.

A total of 14 holes totalling 1,370 meters were completed before a significant drill breakdown combined with the onset of early spring conditions forced the suspension of the drill program. Drilling will resume once Geotech’s VTEMmax airborne EM survey and additional down hole and ground EM surveys have been completed.

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Figure 1. Smoke Lake plan map showing EM conductor Plates with 2020 and 2021 drill holes overlain on first vertical magnetics. Mineralized intersections for 2021 drill holes (blue traces) are given in meters, MS = massive sulphide, SM = semi-massive, STR = stringer, DISS = Disseminated.

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Figure 2. Massive and semi-massive magmatic sulphide intersections in holes TK-20-029, 30 and 35. Wall rock is tonalite, and hornblendite.

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Figure 3. Closeup of coarse pentlandite eyes in hole TK-21-035.

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Figure 4. Closeup of massive and semi-massive sulphide in hole TK-20-030.

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Figure 5. Closeup of deepest (130 metres) intercept to date of massive sulphide (1.6 meters wide) in the Lower Conductor, hole TK-21-041.

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Figure 6. Evidence of remobilized sulphide being injection into the foliated tonalite in the Lower Conductor, hole TK-21-042.

QA/QC

The Phase II drilling program was carried out under the supervision of Neil Pettigrew, M.Sc., P. Geo., Vice President of Exploration and a director of the Company.

Drill core samples were split using a rock saw by Company staff, with half retained in the core box. The drill core samples were transported by company staff the Company’s core handling facility, to Actlabs laboratory in Thunder Bay, Ontario. Actlabs, is an accredited lab and are ISO compliant (ISO 9001:2015, ISO/IEC 17025:2017). PGE analysis was performed using a 30 grams fire assay with an ICP-MS or ICP-OES finish. Multi-element analyses, including copper and nickel were analysed by four acid digestion using 0.5 grams with an ICP-MS or ICP-OES finish.

Certified standards, blanks and crushed duplicates are placed in the sample stream at a rate of one QA/QC sample per 10 core samples. Results are analyzed for acceptance at the time of import. All standards associated with the results in this press release were determined to be acceptable within the defined limits of the standard used

About Tyko Ni-Cu-PGE Project

The Tyko Ni-Cu-PGE Project, is located approximately 65 kilometers northeast of Marathon Ontario, Canada. Tyko is an early stage, high sulphide tenor, nickel focused project with the most recent drill hole intercepts returning up to 9.9% Ni_Eq over 3.8 meters (8.1% Ni, 2.9% Cu, 1.3g/t PGE) in hole TK-20-023.

Qualified Person

The technical information in this release has been reviewed and verified by Neil Pettigrew, M.Sc., P. Geo., Vice President of Exploration and a director of the Company and the Qualified Person as defined by National Instrument 43-101.

About Palladium One

Palladium One Mining Inc. is an exploration company targeting district scale, platinum-group-element (PGE)-copper nickel deposits in Finland and Canada. Its flagship project is the Läntinen Koillismaa or LK Project, a palladium dominant platinum group element-copper-nickel project in north-central Finland, ranked by the Fraser Institute as one of the world’s top countries for mineral exploration and development. Exploration at LK is focused on targeting disseminated sulfides along 38 kilometers of favorable basal contact and building on an established NI 43-101 open pit resource.

ON BEHALF OF THE BOARD
“Derrick Weyrauch”
President & CEO, Director

For further information contact: Derrick Weyrauch, President & CEO
Email: [email protected]

Neither the TSX Venture Exchange nor its Market Regulator (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release includes “forward-looking information” that is subject to a few assumptions, risks and uncertainties, many of which are beyond the control of the Company. Statements regarding listing of the Company’s common shares on the TSXV are subject to all of the risks and uncertainties normally incident to such events. Investors are cautioned that any such statements are not guarantees of future events and that actual events or developments may differ materially from those projected in the forward-looking statements. Such forward-looking statements represent management’s best judgment based on information currently available. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions and general business conditions. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including those set out in the Company’s annual information form dated April 29, 2020 and filed under the Company’s profile on SEDAR at www.sedar.com. The Company does not undertake to update forward?looking statements or forward?looking information, except as required by law. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements.

Fascinating Facts How Mining Has Impacted Lives

 


Fascinating Facts How Mining Has Impacted Lives

 

Countries at all levels of development dig to unearth the resources needed to build wealth. Some regions are wealthy just by the benefit of location and the wealth they are literally sitting on. Other countries have endured centuries of constant security concern as their natural resources make them a target of a “hostile takeover.” The power of the elements, minerals, and even organic matter that lie within the earth continues to help usher in grand new eras; this is as true today as ever.

We’ve dug up seven interesting facts about precious materials. You can use this information to develop your next investment idea or share it with guests as you begin to entertain more this Spring and Summer.

 

Pre-Historic Miners

The first unearthed metals were gold and copper. Scientists have located copper pipes that are more than 5000 years old. Copper mining, at some level, dates back to at least 8700 BC.

 Your Consumption

The average American consumes 40,000 pounds of minerals each year.  This includes salt, the zinc used to prevent severe viral infections, and electrolytes such as those found in sports drinks like Gatorade.

 Petroleum Beyond Motor Fuel

We know that petroleum is used to make gasoline, but as gasoline demand becomes less, will this lower the price of production of other products made from oil? Only 45% of U.S. petroleum consumption in 2019 was in the form of gasoline. The rest was finished into wax, Vaseline, lipstick, crayons, asphalt, golf balls, fiberglass boats, chewing gum, car interiors, shopping bags, and so much more. Look around; our lives surround us with products resulting from drilling for oil.

 The ‘Luck of the Irish’

The gold and silver mining frenzy in the old West made folk heroes out of some miners. Many of the most famous and successful miners were of Irish descent. This gave rise to the phrase “The Luck of the Irish.”

Electronics

The average modern electronic device has more than 35 minerals in it. From your cell phone to the microwave you use to heat your lunch, modern electronics use gold, copper, lithium, zinc, and many other minerals to function.

Pyrite

Pyrite is one of the most widely used and distributed sulfide minerals. The name comes from the Greek word pyr meaning fire because pyrite emits sparks when struck by iron. In fact, it has been used to start fires since prehistoric times.

Gold is Elusive

It’s believed that upwards of 80% of the world’s gold is still eluding us below the earth’s surface. Pure gold is so soft that it can be molded with nothing more than a simple rigid hand tool.

 Resources and Mining

The world of mining has been beneficial to mankind for thousands of years before any written history—the natural resources that continue to be unearthed and those that are recaptured in recycling programs continue to improve our lives.

 

Sources: https://www.jewelsforme.com/gem_and_jewelry_library/pyrite#:~:text=Pyrite%20is%20one%20of%20the,start%20fires%20since%20prehistoric%20times

https://oilprice.com/Energy/Energy-General/10-Unexpected-Uses-of-Oil.html 

https://www.eia.gov/tools/faqs/faq.php?id=41&t=6#:~:text=What%20are%20petroleum%20products%2C%20and,in%20nearly%20everything%20we%20use

 

Release – Bunker Hill Mining (BHLL)(BNKR:CA) – Engages Cutfield Freeman & Co. As Re-Start Financing Advisor


Bunker Hill Mining Engages Cutfield Freeman & Co. As Re-Start Financing Advisor

 

TORONTO, April 27, 2021 (GLOBE NEWSWIRE) — Bunker Hill Mining Corp. (the “Company”) (CSE: BNKR) is pleased to announce that it has engaged Cutfield Freeman & Co. (“CF&Co.”) to provide independent advice on all aspects of restart mining finance related to the Bunker Hill Mine in Idaho, USA.

Sam Ash CEO stated, “As a logical next step on the back of our robust restart PEA that envisages $42 million of initial capital expenditures over a 15 month period, we are excited to be partnering with CF&Co., the pre-eminent global mining finance advisory firm, to assist us in evaluating project finance alternatives. We look forward to continuing discussions, and initiating new ones, with interested parties over the coming months concurrent with the completion of ongoing technical studies.”

About Bunker Hill Mining Corp.

Under new Idaho-based leadership, Bunker Hill Mining Corp intends to sustainably restart and develop the Bunker Hill Mine as the first step in consolidating a portfolio of North American precious-metal assets with a focus on silver. Information about the Company is available on its website, www.bunkerhillmining.com, or under its profile on SEDAR and EDGAR.

For additional information contact: [email protected]

Cautionary Statements

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 of 1933, as amended, and Section 21E of the 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. 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”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to: the results of the Company’s Preliminary Economic Assessment (“PEA”); the potential of the Bunker Hill Mine to be re-started rapidly based on the results of the PEA; the PEA representing robust financial returns; estimated capital expenditures and restart timeline; the timing for discussions with interested parties regarding restart financing and the completion of ongoing technical studies; and the Company’s intentions regarding its objectives, goals or future plans and statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to those risks set out in the Company’s public documents filed on SEDAR and EDGAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such 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. 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.

Release – Energy Fuels (UUUU)(EFR:CA) – Engages Leading Consultant to Support Development of Rare Earth Separation at White Mesa Mill in Utah

 

 


Energy Fuels Engages Leading Consultant to Support Development of Rare Earth Separation at White Mesa Mill in Utah

 

  • Carester SAS is recognized as one of the leading global experts on rare earth separation
  • Significant experience in processing natural monazite feeds into value-added rare earth products
  • Potential to restore a fully-integrated commercial U.S. rare earth supply chain within the next two to three years

LAKEWOOD, Colo.April 27, 2021 /CNW/ – Energy Fuels Inc. (NYSE: UUUU) (TSX: EFR) (“Energy Fuels” or the “Company”) is pleased to announce that it has engaged Carester SAS (“Carester“) to prepare a scoping study for the development of a solvent extraction (“SX“) rare earth element (“REE“) separation circuit at the Company’s White Mesa Mill in Utah. Based in Lyon, France, Carester is one of the world’s leading global consultants on rare earth supply chains, with expertise in designing, constructing, operating and optimizing REE production facilities globally.

Carester has been engaged to support Energy Fuels’ planned development of REE separation capabilities at the White Mesa Mill, utilizing the Mill’s existing equipment and infrastructure to the extent applicable, to create a continuous, integrated and optimized rare earth production sequence. Carester’s scoping work will include an evaluation of the Mill’s current monazite leaching process, preparation of an REE separation flow sheet, capital and operating expense estimates, incorporation of new technologies where applicable, and recommendations on equipment vendors.

On March 1, 2021, Energy Fuels and Neo Performance Materials (“Neo“) announced the joint launch of a U.S.-Europe rare earth supply chain. With today’s announcement, the Company is now taking another important step toward launching a fully integrated “mine to market” U.S. rare earth supply chain in the coming years.

The Company is currently purchasing a minimum of 2,500 tons per year of natural monazite sands (“Monazite“) from Chemours’ Georgia (USA) heavy mineral sand operations. The Company is also in the process of securing additional supplies of Monazite from the U.S. and internationally, with an initial goal of processing approximately 15,000 tons of Monazite per annum for the recovery of REEs and uranium. Beginning in late-March, Energy Fuels began ramping up processing of Monazite at the White Mesa Mill, to produce a clean, mixed REE carbonate (“Carbonate“), an intermediate REE product ready for separation, the next step in a fully integrated REE supply chain. Energy Fuels intends to sell this intermediate product to an REE separation facility in Europe owned by Neo.

As previously announced, Energy Fuels is evaluating the potential to produce separated REE oxides, REE metals, REE alloys, and other value-added REE products at the White Mesa Mill (or nearby), with the intent of creating a fully integrated U.S. REE supply chain in the coming years. Engaging Carester to prepare a scoping study represents the next step in Energy Fuels’ development of these capabilities.

Carester’s REE separation and purification techniques utilize proven liquid-to-liquid SX extraction processes that have been successfully deployed around the world to produce REE products from feeds including Monazite. Carester’s team includes several individuals with significant experience processing Monazite for the recovery of REEs in FranceChina and elsewhere. The White Mesa Mill has utilized SX technology to produce uranium and vanadium products since the facility was commissioned in 1980. Therefore, the Company believes that Carester’s REE extraction processes can be incorporated into the Mill’s existing infrastructure in an efficient and cost-effective manner.

“Energy Fuels is absolutely focused on building fully integrated rare earth supply capabilities at our White Mesa Mill in the coming years, and we are pleased to have Carester on the team to support our efforts,” stated Mark S. Chalmers, President and CEO of Energy Fuels. “Since we began evaluating the potential to produce rare earth products in late-2019, Energy Fuels has partnered with only the best global experts at every opportunity, and the agreement with Carester is just another example of how our Company is advancing our strategy on the complete REE production sequence. The Carester team is widely recognized as one of the world’s foremost authorities in producing separated rare earth oxides and other value added rare earth products. Rare earth extraction, separation and purification can be complex. We believe that our extensive in-house processing experience, combined with Carester’s expertise, places the Company in an excellent position to successfully and cost-effectively help to restore critical domestic rare earth capabilities in the USA at the White Mesa Mill.

“As more clean energy and advanced technologies are deployed, more rare earth products will be required. However, technologies are only clean if every step in the supply chain from the mine to the final consumer product is clean. An electric vehicle is not ‘green’ if the raw materials that go into the vehicle are not responsibly produced. The U.S. has the highest standards for safety, efficiency, and environmental responsibility in the world when it comes to mining, processing, refining and manufacturing. Energy Fuels is working towards establishing a ‘clean’ and ‘green’ U.S. option for manufacturers who demand the highest standards in their rare earth raw materials.”

About Energy Fuels: Energy Fuels is a leading U.S.-based uranium mining company, supplying U3O8 to major nuclear utilities. The Company also produces vanadium from certain of its projects, as market conditions warrant, and is in the process of ramping-up to commercial production of REE carbonate in 2021. Its corporate offices are in Lakewood, Colorado near Denver, and all of its assets and employees are in the United States. Energy Fuels holds three of America’s key uranium production centers: the White Mesa Mill in Utah, the Nichols Ranch in-situ recovery (“ISR“) Project in Wyoming, and the Alta Mesa ISR Project in Texas. The White Mesa Mill is the only conventional uranium mill operating in the U.S. today, has a licensed capacity of over 8 million pounds of U3O8 per year, and has the ability to produce vanadium when market conditions warrant, as well as REE Carbonate from various uranium-bearing ores. The Nichols Ranch ISR Project is currently on standby and has a licensed capacity of 2 million pounds of U3O8 per year. The Alta Mesa ISR Project is also currently on standby. In addition to the above production facilities, Energy Fuels also has one of the largest NI 43-101 compliant uranium resource portfolios in the U.S. and several uranium and uranium/vanadium mining projects on standby and in various stages of permitting and development. The primary trading market for Energy Fuels’ common shares is the NYSE American under the trading symbol “UUUU,” and the Company’s common shares are also listed on the Toronto Stock Exchange under the trading symbol “EFR.” Energy Fuels’ website is www.energyfuels.com. 

Cautionary Note Regarding Forward-Looking Statements: This news release contains “forward-looking information” within the meaning of applicable securities laws in the United States and Canada. Forward-looking information may relate to future events or future performance of Energy Fuels. All statements in this release, other than statements of historical facts, with respect to Energy Fuels’ objectives and goals, as well as statements with respect to its beliefs, plans, objectives, expectations, anticipations, estimates, and intentions, are forward-looking information. Specific forward-looking statements in this discussion include, but are not limited to, the following: any expectation as to the outcome of Carester’s Scoping Study; any expectation that the White Mesa Mill will be successful in producing REE Carbonate on a commercial basis; any expectation that Energy Fuels will be successful in developing U.S. separation, metals or metal/alloy capabilities at the White Mesa Mill or nearby, or otherwise fully integrating a low cost U.S REE supply chain in the future; any expectation with regard to the cost of producing and separating REE Carbonate at the White Mesa Mill;. any expectation that Caresters’ REE extraction processes can be incorporated into the Mill’s existing infrastructure in an efficient and cost-effective manner; and any expectation that Energy Fuels is establishing a ‘clean’ and ‘green’ U.S. option for manufacturers who demand the highest standards in their rare earth raw materials.  Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “continues”, “forecasts”, “projects”, “predicts”, “intends”, “anticipates” or “believes”, or variations of, or the negatives of, such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “should”, “might” or “will” be taken, occur or be achieved. This information involves 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 information. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements include risks associated with: technical difficulties; processing difficulties and upsets; commodity price levels and fluctuations; competition from other facilities domestically and internationally; available supplies of Monazite that meet commercial specifications; the availability of long-term purchase and supply agreements; capital requirements; the ability of the White Mesa Mill to produce REE Carbonate or separated REE products that meet commercial specifications on a commercial scale at acceptable costs; market factors, including future demand for REEs; permitting and licensing matters; and legal and regulatory challenges. Forward-looking statements contained herein are made as of the date of this news release, and Energy Fuels disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management’s estimates or opinions should change, or otherwise. 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. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. Energy Fuels assumes no obligation to update the information in this communication, except as otherwise required by law.

SOURCE Energy Fuels Inc.

For further information: Investor Inquiries: Energy Fuels Inc., Curtis Moore, VP – Marketing and Corporate Development, (303) 974-2140 or Toll free: (888) 864-2125, [email protected], www.energyfuels.com