The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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Rockfire Resources PLC - Greece and Australia-focused gold, base metal and critical mineral exploration company - Announces the company’s geotechnical drilling, has intersected high-grade zinc, silver and lead at its 100%-owned Molaoi zinc deposit in Greece. David Price, chief executive says: ‘These drilling results continue to demonstrate the quality of the Molaoi zinc/lead/silver deposit. Our drilling is designed to obtain sufficient sample volume for crushing and grinding work index studies. Whilst achieving this principal goal, this drilling continues to confirm and infill 179 historical drillholes which were drilled at Molaoi in the 1980’s.’
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Petroneft Resources PLC - oil and gas exploration company focussed on Russia - Enters non-binding heads of terms with Pavel Tetyakov, chief executive, to sell WorldAce Investments Ltd and OOO Granite Construction for around $110. Completion of the sale would mark its full exit from Russia.
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Ondine Biomedical Inc - Vancouver-based life sciences company specialising in photodisinfection therapies - Mid Yorkshire Teaching NHS Trust has this week started the first UK pilot evaluation of Ondine’s steriwave nasal photodisinfection for the prevention of surgical site infections. The six-month pilot will see 500 elective hip and knee surgery patients nasally decolonized using steriwave prior to their surgery. Ondine says it is in discussions with a number of other NHS trusts about initiating additional steriwave pilots.
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C4X Discovery Holdings PLC - Manchester, England-based drug discovery firm focussed on immuno-inflammatory diseases - Sells proprietary rights to C4XD’s oral orexin-1 receptor antagonist, C4X_3256 for substance use disorder, to Indivior PLC for £16.0 million. Completion of this divestment forms part of C4XD’s evolution towards becoming an immuno-inflammatory therapeutics company. Explains a previous license agreement announced in 2018 will be terminated and Indivior will assume all rights related to the development and use of C4X_3256 and related compounds.
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Engage XR Holdings PLC - Waterford, Ireland-based virtual reality software and technology group - Provides update on trading for six to June 30. Continues to trade in line with market expectations. Expects revenue of around €2.1 million, up 18% on EUR 1.8 million the year prior. Main driver is increase in revenue is Engage with revenue up 30% to €1.9 million, or 91% of the group total. Gross margin improved to 93% from 81%. Gaining transaction in the US with 54% of revenue deriving from North America, up from 30% in the previous year.
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Digitalbox PLC - digital media and owner of brands such as Daily Mash, The Poke and The Tab - Buys the digital assets of 99 Problems, Student Problems and The Life Network Shopping from Media Chain Group Ltd for $800,000. Expects acquisition to be immediately earnings enhancing on completion. Notes the deal provides Digitalbox with the opportunity to extend its audience reach through the 99 Problems 10 million Facebook followers, Student Problems 1.4 million Tik Tok followers and the The Life Shopping Network 1 million Facebook followers. Deal will be funded from existing resources.
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San Leon Energy PLC - Dublin-headquartered oil and gas company focused on Nigeria - Announces a further extension to the longstop dates for the proposed transactions with Midwestern Oil & Gas Co Ltd and the company’s further investments in Energy Link Infrastructure (Malta) Ltd. These were announced on July 8. All longstop dates have, in agreement with Midwestern and the other relevant parties, been extended to August 31. Remains optimistic on progress being made and expects to provide an update to shareholders in the near term.
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