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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Cloudbreak Discovery PLC - Vancouver, Canada-based natural resource project generator - Signs an exploration agreement for the acquisition of its proprietary database of lithium targets in Texas. Smackover Resources LLC, a wholly owned subsidiary of Lonestar Lithium Inc, has purchased the proprietary database with regional modelling and data compilation across eastern Texas from Cloudbreak. The terms include: 2.0 million shares in Lonestar; $25,000 each time a Qualifying Transaction property is generated from the database; and 0.5% Royalty produced lithium on each Qualifying Transaction property. The areement is for three years. Interim Chief Executive Andrew Male says: ‘This Exploration Agreement is a good example of the type of transactions Cloudbreak has completed in the past and will continue to do with a sector of its asset base. It took considerable time and effort to compile this database and being able to sell this on to Lonestar demonstrates the possible valuation accretion by doing this type of business.’
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United Oil & Gas PLC - Oil and gas company, focused on Egypt, the UK and Jamaica - Raises £1.0 million through oversubscribed placing of 457.5 million shares and 42.5 shares by way of a subscription. A total of 500.0 million shares will be issued through the fundraising, 76% of the company’s issued share capital. Funds will be used to progress work in Jamaica and for administration costs.
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Diaceutics PLC - Belfast-based provider of diagnostic commercialisation services to pharmaceutical and biotechnology companies - Expands its data supply network, which it says will significantly increase the number of labs through which Diaceutics is sourcing data in Europe and will broaden the company’s European data coverage. This data will accelerate the rollout of the DxRx Signal product in key EU markets of Germany, France, Italy, Spain and the UK. Jordan Clark, chief data officer of Diaceutics, comments: ‘This data will further endorse our position as a leading provider of data to biotech and pharma companies as they commercialize their products, find and deliver therapies to patients across multiple geographies.’
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Crossword Cybersecurity PLC - London-based cybersecurity solutions provider - Launches Trillion HarVista. Says the Trillion HarVista tool allows enterprise security teams to search conversations on the dark web in a clean and sanitised environment. It ‘enables security teams, for the first time, to be able to identify the threats developing both from hacker discussions and shared compromised credential data all from a single interface, without the risk of searches on hostile websites being linked to your organisation.’
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Fusion Antibodies PLC - Belfast-based contract researcher, which provides discovery, design and optimisation services for therapeutic antibodies to the healthcare market - Receives a first purchase order under the master services agreement with an unnamed ‘leading diagnostics company.’ The first purchase order, valued at around £60,000, has been received for an initial project to generate antibodies specifically for the client’s use in diagnostic products. It is anticipated that further purchase orders will follow for additional and recurring projects. CEO Adrian Kinkaid says: ‘Reaching this agreement with a world class diagnostics provider positively reinforces the value to the wider commercial world of Fusion Antibodies’ technologies and capabilities. In this case it is the generation of antibodies in diagnostics products. We look forward to establishing a long-term relationship with our new partner and providing them with assistance to generate better antibodies which are more manufacturable and can be rapidly deployed in clinical diagnostic products for the benefit patient well-being across the globe.’
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Sondrel Holdings PLC - Reading, England-based semiconductor design services firm - Wins new design and supply contract for a next generation video processing chip with a total estimated value of $23 million across the design, qualification and projected production life of the product. ‘The complex chip is to be used for high performance professional video streaming solutions. The company has entered into the master agreement with the customer and design work has commenced whilst the parties finalise negotiations to the exhibits to the agreement,’ it says. The initial contract value is for over $9 million for the duration of the design and qualification phases and the work will be fully funded by the customer. CEO Graham Curren says: ‘This is a substantial design and supply contract for Sondrel and a demonstration of the group’s ability to provide the most complex engineering expertise required for these next generation technologies. We’re delighted to partner with one of the leading manufacturers in the high growth video streaming market, where the constant innovation and focus on efficiency is driving demand for complex chips like Sondrel’s.’ Also reports that it has received four new orders in 2024 year to date for its design consulting services, engaging with two existing customers and two new customers. These contracts will generate a combined revenue of $900,000 in the current financial year.
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