(Correcting name of Bluejay Mining director who resigned.)
The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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Corcel PLC - London-based mining and mineral resource development company - Completes fundraising and confirms that the placing funds have been received.
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Barclays PLC - London-based bank - Notes that Wise Road Alpha Investment Fund I LP and SMART Growth Fund LP plan to sell 31.7 million shares in the share capital of Alphawave IP Group PLC.
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Hawkwing PLC - cash shell - Notes that liquidators have been appointed to IFG SPP Ltd. It currently owes the company £13.7 million together with interest, costs and exit premiums. Explains that it is assessing its options and the steps it should be taking to protect its position following IFGS’ liquidation.
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Insig AI PLC - London-based data science and machine learning - Says that a second tranche of £260,000 has been drawn down on the convertible loan facility agreement by Richard Bernstein. After this tranche, an amount of £390,000 remains available.
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Critical Metals PLC - Africa-focused natural resources investor - Says it is in the final stages of appointing a mine manager for its Molulu copper and cobalt project in Congo. Says groundwork at the project has begun shortly after readmission. Employs local workers to clear and clean the mine campground and enhance security. Expects camp equipment, which is currently in transit from South Africa, to be arriving soon after this. Starts preparations for the initial geological mapping surveys. ‘These are exciting times for Critical Metals as we prepare the ground and await the arrival of key camp equipment, expected in the coming weeks. It is highly encouraging to see the collaboration of our team, including our current DRC-based geologists, as we endeavor to identify further extensions of the copper ore body by further geological mapping, which we hope will be completed in a matter of weeks,’ CEO Russell Fryer comments.
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DX Group PLC - Slough, England-based parcel freight, secure courier and logistics provider - Confirms that it has received a notice from Gatemore Capital Management LLP seeking to requisition a general meeting of the company. Gatemore proposes to remove Ron Series as executive chair and a director and to appoint Mark Hammond to replace him.
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Nanoco Group PLC - Manchester-based nanomaterial developer and manufacturer - Files a lawsuit against Samsung in China for the willful infringement of its IP. Says this is its third lawsuit against Samsung and that it is based on a sister patent to one of the patents in the US litigation. The litigation process in China is expected to be faster than the US process, where multiple appeals can extend for a number of years. A final outcome in China can be expected between one and two years from filing suit. China is also another territory where an injunction is more commonly available than in the US. We continue to pursue a patent litigation strategy that delivers fair value for Nanoco’s global IP portfolio. We are grateful to be well supported in these endeavours by our Litigation Funding Partner and our legal advisers at Mintz,‘ Chief Executive Brian Tenner comments.
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Mosman Oil and Gas Ltd - Sydney-based oil and gas company with projects in Australia and the US - Identifies other near term production opportunities, as result of the work programme to bring the new development well at Cinnabar onto production. Drilles a development well at the Cinnabar project. Completes the drilling of the Arco Fee G-1and Arco Fee G-2 well to 10,000 feet depth and states it is ready for production. Says the flow rates will be announced when received.
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Bezant Resources PLC - copper-gold project developer - Enters into a conditional share purchase agreement to exchange its 27.5% stake in IDM Mankayan Pty Ltd for a 27.5% interest in IDM International Ltd. Enters a convertible loan note agreement with IDM International to invest A$137,500, or £77,000, in IDM International. Adds that IDM International has entered into a convertible loan notes deal with entities associated with two of its directors to raise A$362,500, or £203,000.
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Bidstack Group PLC - London-based in-game advertising platform - Intends to undertake a ’comprehensive business review‘ as part of its ’aggressive growth strategy‘ for 2023. ’We are happy to share the new revenue streams the Group is exploring, including licensing our proprietary technology, empowering IP rights holders to control their brand activations in the virtual world and the expansion of our gaming ’SSP’, which now houses all ad-formats within the gaming ecosystem. This is an exciting period where we are looking to accelerate our top line growth and look to cement our position as the dominant technology provider for game developers and platform owners for targeted, brand-based communications within gaming environments and applications,‘ Founder & Chief Executive James Draper comments.
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Bluejay Mining PLC - mineral exploration and development in Greenland and Finland - Sayd Non-Executive Director Johannus-Egholm Hansen resigns and ceases to be a director with immediate effect.
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Harland & Wolff Group Holdings PLC - London-based offshore construction company - Says that it has activated the accordion facility provided by Riverstone Credit Partners LLC. Draws down an initial sum of $15 million before costs. Plans to use the funds for the full settlement of the remaining Appledore deferred consideration and for working capital needs as required. Explains that a total sum of £4.5 million remains payable for the deferred consideration to Appledore’s vendors. Issues 8.6 million warrants to Riverstone Credit Partners LLC at an exercise price of 5.65 pence per share, as part of the transaction. ’I am delighted that we have formally completed the acquisition of all the assets of Appledore. With the M55 and HMS Atherstone in the yard, the completion of this transaction and bringing these assets formally under the Harland & Wolff umbrella is a significant milestone. It also provides additional confidence to our clients to progress and execute new contracts destined for Appledore,‘ CEO John Wood comments.
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