Sirona Biochem Announces Convertible Note Financing
VANCOUVER, BC–(Marketwired – January 31, 2017) – Sirona Biochem Corp. (TSX VENTURE: SBM) (FRANKFURT: ZSB) (XETRA: ZSB) announced today a non-brokered private placement (the “Private Placement”) of convertible notes (“Notes”) for gross proceeds of up to $600,000. Each Note will be convertible at the option of the holder into one common share of the company at a conversion price of $0.18 per share during the 18 month term of the Notes.
The Notes will mature in 18 months from the date of issuance and bear interest at the rate of 12{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} per annum, payable quarterly, until the Notes are converted or repaid. The company will be entitled to repay the principal amount of the Notes, together with accrued and unpaid interest, at any time commencing four months after the date of issuance, subject to giving the holders prior notice thereof to permit holders to convert during the notice period. The Notes are unsecured and transferable, subject to resale restrictions under applicable securities laws and TSX Venture Exchange requirements.
Sirona Biochem intends to use the net proceeds from the Private Placement for general working capital, and to support the company’s efforts to secure a licensing agreement for its skin lightening compound, TFC-1067. The company is expecting to receive a term sheet for a licensing transaction for TFC-1067 in Q1 2017 but there can be no assurances that a licensing agreement will be entered into on terms acceptable to Sirona Biochem or at all. The Company may pay fees of 7{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} in cash to qualified finders.
All securities issued in connection with the private placement will be subject to a statutory hold period of four months commencing from the date of issuance of the Notes. Closing of the private placement is subject to customary conditions, including TSX Venture Exchange acceptance.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful. The Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to, or for the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.
In addition, the Company announces an extension to the term of 8,865,970 common share purchase warrants (the “Warrants”) originally issued on March 6, 2014. The warrants were issued as part of a private placement. The expiry dates will be extended as follows:
March 6, 2014
Number of Warrants: | 8,865,970 |
Original Expiry Date of Warrants: | March 6, 2017 |
New Expiry Date of Warrants: | April 30, 2017 |
Exercise Price of Warrants: | $0.20 |
All other terms of the Warrants will remain unchanged.
About Sirona Biochem Corp.
Sirona Biochem is a cosmetic ingredient and drug discovery company with a proprietary platform technology. Sirona specializes in stabilizing carbohydrate molecules with the goal of improving efficacy and safety. New compounds are patented for maximum revenue potential.
Sirona’s compounds are licensed to leading companies around the world in return for licensing fees, milestone fees and ongoing royalty payments. Sirona’s laboratory, TFChem, is located in France and is the recipient of multiple French national scientific awards and European Union and French government grants. For more information, please visit www.sironabiochem.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Sirona Biochem cautions you that statements included in this press release that are not a description of historical facts may be forward-looking statements. Forward-looking statements are only predictions based upon current expectations and involve known and unknown risks and uncertainties. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of release of the relevant information, unless explicitly stated otherwise. Actual results, performance or achievement could differ materially from those expressed in, or implied by, Sirona Biochem’s forward-looking statements due to the risks and uncertainties inherent in Sirona Biochem’s business including, without limitation, statements about: a third party potential licensees of TFC-1067 may not deliver a term sheet to the company in Q1 2017 or at all; the company may not be able to negotiate a license agreement with a potential licensees of TFC-1067 on terms acceptable to Sirona Biochem; the progress and timing of its clinical trials are uncertain; difficulties or delays in development, testing, obtaining regulatory approval, producing and marketing products; unexpected adverse side effects or inadequate therapeutic efficacy of the company’s or licensed products that could delay or prevent product development or commercialization; the scope and validity of patent protection for the company’s or licensed products; competition from other pharmaceutical or biotechnology companies; and its ability to obtain additional financing to support its operations. Sirona Biochem does not assume any obligation to update any forward-looking statements except as required by law.
CONTACT INFORMATION
-
For more information regarding this press release, please contact:
Christopher Hopton
CFO
Sirona Biochem Corp.
Phone: 1.604.282.6064
Email: chopton@sironabiochem.com
- Published in Bio technology, News Home, Sirona Biochem
Tetra Bio-Pharma Inc. Completes Pre-IND Meeting with Food and Drug Administration on PPP001
Tetra Bio-Pharma Inc. Completes Pre-IND Meeting with Food and Drug Administration on PPP001
OTTAWA, ONTARIO–(Marketwired – Jan. 30, 2017) – PhytoPain Pharma Inc. (“PPP”), a subsidiary of Tetra Bio-Pharma Inc. (“Tetra” or the “Company”) (CSE:TBP)(CSE:TBP.CN)(OTC PINK:GRPOF), a pharmaceutical company focused on developing and commercializing therapeutic cannabis-based products for the treatment of pain and other medical conditions announces that it has completed its pre-IND meeting with the USA Food and Drug Administration (“FDA”) for its PPP001 dried cannabis drug product. The meeting was held in January 2017 with the Division of Anesthesia, Analgesia, and Addiction Products (“DAAAP”), Center for Drug Evaluation and Research (“CDER”).
The FDA provided all the necessary guidance on the design of the Phase I trial in healthy volunteers and the overall product development program, including quality, nonclinical and the medical device, and on marketing requirements. Dr. Chamberland, M.Sc., Ph.D., Chief Scientific Officer and Regulatory Affairs, commented “We could not be more pleased, as the FDA guidance gave us a clear path to progress from early to late phase clinical development. Adhering to the US FDA regulations is part of Tetra Bio-Pharma’s dedication to the commercialization of Cannabis as a prescription controlled drug and the corporations plan to seek reimbursement by insurers for patients.”
The Canadian Securities Exchange (“CSE”) has not reviewed this news release and does not accept responsibility for its adequacy or accuracy.
Forward-looking statements
Some statements in this release may contain forward-looking information. All statements, other than of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding potential acquisitions and financings) are forward-looking statements. Forward-looking statements are generally identifiable by use of the words “may”, “will”, “should”, “continue”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “plan” or “project” or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company’s ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, without limitation, the inability of the Company, through its wholly-owned subsidiary, GrowPros MMP Inc., to obtain a licence for the production of medical marijuana; failure to obtain sufficient financing to execute the Company’s business plan; competition; regulation and anticipated and unanticipated costs and delays, and other risks disclosed in the Company’s public disclosure record on file with the relevant securities regulatory authorities. Although the Company has attempted to identify important factors that could cause actual results or events to differ materially from those described in forward-looking statements, there may be other factors that cause results or events not to be as anticipated, estimated or intended. Readers should not place undue reliance on forward-looking statements. The forward-looking statements included in this news release are made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities legislation.
Tetra Bio-Pharma Inc.
Dr. Guy Chamberland
Chief Science Officer
(514) 220-9225
Tetra Bio-Pharma Inc.
Andre Rancourt
Chief Executive Officer
(613) 689-0714
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in Medical Marijuana, News Home, Tetra Bio Pharma
Tetra Bio-Pharma Inc. (TBP:CSE) Completes Pre-IND Meeting with Food and Drug Administration on PPP001
Tetra Bio-Pharma Inc. (TBP:CSE) Completes Pre-IND Meeting with Food and Drug Administration on PPP001
– Momentum Public Relations –
Press Release: January 30th, 2017
PhytoPain Pharma Inc. (“PPP“), a subsidiary of Tetra Bio-Pharma Inc. (“Tetra” or the “Company“) (CSE:TBP)(CSE:TBP.CN)(OTC PINK:GRPOF), a pharmaceutical company focused on developing and commercializing therapeutic cannabis-based products for the treatment of pain and other medical conditions announces that it has completed its pre-IND meeting with the USA Food and Drug Administration (“FDA”) for its PPP001 dried cannabis drug product. The meeting was held in January 2017 with the Division of Anesthesia, Analgesia, and Addiction Products (“DAAAP”), Center for Drug Evaluation and Research (“CDER”).
The FDA provided all the necessary guidance on the design of the Phase I trial in healthy volunteers and the overall product development program, including quality, nonclinical and the medical device, and on marketing requirements. Dr. Chamberland, M.Sc., Ph.D., Chief Scientific Officer and Regulatory Affairs, commented “We could not be more pleased, as the FDA guidance gave us a clear path to progress from early to late phase clinical development. Adhering to the US FDA regulations is part of Tetra Bio-Pharma’s dedication to the commercialization of Cannabis as a prescription controlled drug and the corporations plan to seek reimbursement by insurers for patients.”
The Canadian Securities Exchange (“CSE”) has not reviewed this news release and does not accept responsibility for its adequacy or accuracy.
- Published in Life Sciences, Medical Marijuana, News Home, Tetra Bio Pharma
Namaste (N:CSE) Announces Record Quarterly Revenue for Q1 2017
Namaste (N:CSE) Announces Record Quarterly Revenue for Q1 2017
– Momentum Public Relations –
Press Release: January 30th, 2017
Namaste Technologies Inc. (“Namaste” or the “Company“) (CSE:N)(CSE:N.CN)(FRANKFURT:M5BQ) is pleased to announce the filing of its unaudited quarterly financial statements, management’s discussion and analysis, and certification of the quarterly filings for the first quarter of fiscal 2017. The statements for the period can be accessed on SEDAR at www.sedar.com.
The operational and financial highlights for the period include the following:
- Recorded record quarterly revenue of $2,087,188, an increase of 77.6{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} from the first quarter of 2016;
- Generated gross profit of $683,016, an increase of 75.9{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} from the first quarter of 2016;
- Expanded the customer list to over 250,000 individuals producing monthly traffic of approximately 600,000 site visits in November;
- Closed the acquisition of the assets of URT1 Limited, which comprised its Everyonedoesit business (“Everyonedoesit”) and raised approximately $3.5 million of capital; and
- Appointed experienced members to the management team and board.
Financial Results
During the financial reporting period from September 1, 2016 to November 30, 2016, the Company focused efforts on further expanding its traffic and customer base, growing revenues, integrating the asset acquisitions of VaporSeller and Everyonedoesit, and securing capital to expand operations. Because of these focused initiatives, the Company achieved the following financial results:
- Net revenue of $2,087,188 (Q1 2016 – $1,175,341), an increase of 77.6{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} as compared to the first quarter of 2016. These financial results include net revenues for a 44-day period from the Everyonedoesit asset acquisition, which produced revenue of $316,460. On a gross basis (prior to adjustments for refunds, discounts and charge backs), the revenues for the period were $2,460,738, an increase of $373,550 to net revenues. These adjustments are anticipated to normalize as the Company has now integrated the acquisition of VaporSeller and URT1, which is anticipated to result in a higher net revenue going forward.
- Cost of sales of $1,404,172 (Q1 2016 – $787,008), which resulted in a gross profit of $683,016 (Q1 2016 – $388,333). As a percentage of sales, the gross margin was 32.7{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} compared to 33.0{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} in the first quarter of 2016. Going forward, the Company is optimizing its product mix to include higher margin glassware, private label products such as the Gurutm and related product accessories, products sourced from larger volume manufacturers, and driving higher average purchase prices from the VaporSeller and URT1 acquisitions.
- Operating costs of $1,580,087 (Q1 2016 – $513,977), an increase of 207.4{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} as compared to the first quarter of 2016. This increase in operating costs includes non-cash and currency expenses of $71,416. These costs relate to share based compensation and foreign exchange movements in the Company’s source currencies including the British Pound and Euro. In addition, were non-recurring legal expenses of $175,000 related to the URT1 acquisition and financing. After adjusting for these numbers, management estimates total operating costs of $1,333,671 for the period. In addition to these expenditures, the Company has also incurred costs associated with positioning the business for scalability and the administration of its public listing.
- Comprehensive loss of $(897,072) (Q1 2016 – $(125,644)). Going forward, management anticipates sales growth to strengthen from organic revenue generation and completed acquisitions, cost of sales to reduce due to higher volume purchases and optimization of the product portfolio, and operating costs to reduce as a result of normalized operations, which management anticipates to result in profitability and positive cash flow generation in fiscal 2017.
Management Commentary
Sean Dollinger, President and CEO of Namaste, comments: “The first quarter of 2017 represents substantial financial progress. In the first quarter, our team obtained these results while integrating multiple acquisitions and fulfilling orders during some of our most active months. Going forward, we continue to streamline operations, including optimizing our websites, human resources, and distribution networks, and believe our financial results will continue to reflect the value we have created for shareholders.”
About Namaste Technologies Inc.
Namaste Technologies Inc. is an emerging leader in vaporizer and accessories space. Namaste has 26 ecommerce retail stores in 20 countries, offers the largest range of brand name vaporizers products on the market and is actively manufacturing and launching multiple unique proprietary products for retail and wholesale distribution. The Company is currently focused on expanding its product offering, acquisitions and strategic partnerships, and entering new markets globally.
- Published in Medical Marijuana, Namaste Technologies, News Home
Canadian Diamond Exploration Companies Have Reason for Optimism
Canadian Diamond Exploration Companies Have Reason for Optimism
Diamonds are associated with fine jewelry, but they are also the hardest natural minerals on earth. This property makes them highly prized for industrial cutting and polishing functions. Approximately 26,000 kilograms of them are mined worldwide annually. Whether they are found in Africa, Australia or in Canada, all of the world’s diamonds were born in exactly the same fashion.
How Diamonds were Formed
The circumstances leading up to the birth of the stones we call diamonds started about 3.2 billion years ago. At that time continents were forming on the Earth’s surface. Hundreds of kilometers below the surface, however, conditions were quite different. At pressures 50,000 times higher than the surface atmospheric conditions and temperatures reaching up to 1,300°C, new crystals with a lattice structure began to take shape.
The diamonds were formed in molten rock found between 125-200 kilometres below the surface. Some of the rarer stones originated at levels up to 400 kilometers down. When volcanic eruptions pushed magma up through the earth’s mantle toward the surface, the process was too rapid for the diamond’s crystal structure to degrade into graphite. As the volcanoes cooled over time, the diamonds remained locked inside immense cones of kimberlite (solid magma).
Diamond Exploration and Drilling
Kimberlites are relatively small (they generally have a surface area of less than 12 hectares), making them challenging to find. Their molten rock picks up other minerals along with diamonds. These kimberlitic indicator minerals rise to the surface and provide clues to the presence of diamonds.
Once kimberlite is located, tons of rock is collected from the top of the pipe and processed. Extracting this material to look for diamonds from the ground is not an easy process, since kimberlite tends to wear down more quickly than most of the rock surrounding it. As a result this creates depressions over the kimberlite pipes. The pipes fill up with water and glacial debris, which makes it difficult to get to the kimberlite.
If kimberlite is located, however, further diamond drilling and analysis must be conducted to learn about the extent of the deposit and its diamond content.
Diamond Mining in Canada
Canada is the fourth-largest diamond producer in the world. The country has active mines in the Northwest Territories and in Northern Ontario.
- The Diavik Mine is located about 190 miles north of Yellowknife in the Northwest Territories. Rio Tinto owns a 60 percent interest in, and operates the mine, which produces between six and seven million carats of large, “Gem-quality” diamonds annually. Harry Winston Diamond Mines owns the other 40 percent of the operation.
- The Ekati Mine has the distinction of being Canada’s first surface and underground mine. It is located in the Northwest Territories’ Lac de Gras region, about 300 kilometers northeast of Yellowknife. The mine has a reputation for producing high-quality gem diamonds. Its total cumulative production to January 2016 was approximately 63 million carats.
- The Victor Mine is located in the James Bay Lowlands of Northern Ontario, approximately 90 kilometers from the community of Attawapiskat First Nation. This open pit mine is Ontario’s first diamond mine and produces 600,000 carats annually.
- Gahcho Kué is situated 280 kilometres northeast of Yellowknife in the Northwest Territories and is Canada’s newest mine. One of the 10 largest mines in the world, it is expected to produce 4.5 million carats annually.
Canadian Diamond Exploration and Development
Currently, Canadian exploration companies are actively pursuing several projects. In January 2017, Kennady Diamonds announced diamond recovery results of 2.18 carats per tonne of kimberlite from its Kennady North Project in the Northwest Territories. The property is situated immediately adjacent to the Gahcho Kué mine.
DeBeers Canada announced that it will continue its search for diamonds in northern Saskatchewan in the fall of 2016. The company is involved in exploring a site north of the decommissioned Cluff Lake uranium mine. It optioned the site in May 2016 and can invest up to $20.4 million in four stages over a seven-year period. If the company completes all of the stages, it could earn a 90 percent stake in the property. The next step is to drill for targets on the 43,000-acre Northwest Athabasca Project site. The drill team is expected to work through the fall and winter months collecting samples.
Buddy Doyle (VP Exploration, Director at Arctic Star Exploration (ADD:tsxv) has 25 years experience in mineral exploration. He worked for Rio Tinto PLC for over 23 years, most recently he was Exploration Manager/Vice President of Kennecott Canada Exploration Inc. (owned by Rio Tinto), in charge of diamond exploration in North America. He was a key member of the Kennecott Exploration Australia team that discovered the multi-million ounce Minifie gold deposits at Lihir in 1987-1988 and led the team which discovered the Diavik diamond deposits in 1994-1995. Few geologists have seen 2 projects from discovery through to decision to mine. Arctic Star’s Diagras Property might prove to be his next world class discovery.
From Arctic Star’s website, “The Diagras Property consists of 23 contiguous claims staked by Arctic Star, with an area of 18,699 hectares. The property is in joint venture with Margaret Lake Diamonds whereby Margaret Lake has earned a 60{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} interest. The property is located in the north-eastern part of the prolific Lac de Gras kimberlite field, 22km NNE of the Diavik diamond mine and 36km east of the Ekati diamond mine in NWT Canada. The Company has verified through research and compilation that the property hosts over a dozen kimberlites, most of them diamondiferous. Arctic Star’s research and compilation of historical data in the public domain confirms that Diagras is a property of merit that deserves additional exploration.” For more information, click here
- Published in Arctic Star Exploration, Blog, Mining
How Much Will a Bad Hire Cost your Company?
How Much Will a Bad Hire Cost your Company?
Hiring employees is an important part of expanding your business. When you hire the right person for a position in your company, it helps your company thrive and grow. If you make the wrong choice and make a bad hire, it spells bad news for your company that can end up being a very expensive decision.
The hiring process itself takes up time and resources for your company. You may need to advertise for the available position. Depending on the level of the position you wish to fill, you may decide to work with an agency or a professional recruiter to fill the position. Someone within your organization must take time to review resumes and application materials received from candidates.
If the position is left unfilled for a time, you may be dealing with lost productivity. The morale in your company may suffer until you can fill the available position, especially if your existing employees are being expected to shoulder a higher-than-usual workload until you can find a replacement.
Bad Hire Will Cost your Company Thousands
A lot is riding on finding the right person to fill a position with your company, and you need to get it right. According to the results of a survey released by CareerBuilder, a bad hire could cost your company $11,000.00 if you have 500 employees or less. As your company increases in size, the financial hit of a bad hire also increases; for a company of more than 500 employees, it could cost you approximately $22,000.00. For a business employing more than 1,000 workers, the cost of a bad hire reaches about $24,000.00.
What Makes an Employee a Bad Hire
The CareerBuilder survey also asked employers to report on what they thought made a new employee a “bad hire” for their company. The respondents identified a number of issues that stood out for them:
- Employees who didn’t produce acceptable quality of work 58 percent
- Employees who demonstrated a “negative” attitude 52 percent
- Employees who didn’t work well with their new coworkers 51 percent
- Employees skills didn’t match what they claimed they
- could do on their resumes 49 percent
- New employee had attendance issues immediately on
- being hired 45 percent
- Customers complained about the new employee 38 percent
The survey results also revealed that 20 percent of employers knew very quickly (within the first week) after hiring a new employee) whether or not they had made a good decision. More than half of the employers knew within three weeks whether a new hire was going to be an asset to their organization.
Thorough Hiring Process Lowers Risk of Making Bad Hiring Decisions
Making a hiring decision involves more than simply placing a person into a “spot” in your organization. The person who is selected to fill a position must also fit in well with your team. If you make a bad hire, you will need to start over and repeat the process again, spending several thousands of dollars in the process.
A candidate’s resume lists their education and experience. You owe it to yourself, your organization and your team members to use all of the tools at your disposal to ensure that whoever you bring into your existing team is going to not only be a good fit, but will also be an asset. This involves digging deeper when evaluating candidates and performing further testing.
Psychometric Testing for Job Candidates a Tool to Make Better Hiring Decisions
Psychometric testing is a way for employers to learn more about candidates who are interested in open positions. Atman’s Psychometric Test measures traits that don’t appear on a resume and can’t be calibrated in an interview. This test can show you how candidates stack up in important areas, such as motivation, sociability, leadership, dealing with stress, and more.
The results of the testing can’t make the decision for you about which candidate to hire. They are meant to provide you with more information about the candidates so that you can make an informed decision.
As an employer, you know that an employee who demonstrates a positive attitude and who is coachable can be trained in procedures. The results of the psychometric tests can help you to feel more comfortable that you have made the right choice when you extend an offer of employment to a candidate. There’s a lot riding on that decision, and you want to make sure that you get it right, for your company and your team.
Majescor stakes 6,120 ha at Mirabelli
Majescor stakes 6,120 ha at Mirabelli
– Momentum Public Relations –
Press Release: January 26, 2017
Majescor Resources Inc. has staked additional ground on its Mirabelli gold project in Quebec following the review of its exploration database. The property is in close proximity to the Radisson Highway, about 80 kilometres south of the KM 381 outpost.
The new claim block totalling 6,120 hectares is located just to the southeast of the claims covering a probable banded iron formation that were discussed in a recent news release (see Majescor news release dated Jan. 19, 2017). The new ground covers the source areas of anomalous gold values in till (up to 67 gold grains in heavy mineral concentrates and up to one gram per tonne gold from geochemical analyses of the fine fraction) samples collected over a previously unmapped section of a greenstone belt identified earlier by Majescor through high-resolution airborne geophysics. The highly anomalous tills are to be followed up through additional sampling and boulder investigation as early as possible this spring.
The technical content of this release was reviewed by Remi Charbonneau, PGeo, a qualified person as defined by the National Instrument 43-101.
We seek Safe Harbor.
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in Albert Mining, Mining, News Home
HealthSpace (HS:CSE) Announces Expansion of its Oregon Agreement
Further to HealthSpace Data Systems Ltd. (the “Company” or “HealthSpace”) news release of November 14, 2016, the Company is pleased to announce that Lane County, Oregon, in conjunction with the State of Oregon, has increased their request for HealthSpace’s system to 24 additional counties. The agreement can now extent to a total of 34 counties. The term of the contract has also been extended by an additional year to October of 2018. This contract now has an aggregate value of over USD $230,000.
HealthSpace President, Joseph Willmott stated “the successful roll out of our system during the initial phase of this contract has allowed us to expand our relationship with Lane County and the State of Oregon. When completed, HealthSpace will service a majority of the counties in the state. I’d like to congratulate our deployment team for their exemplary work during this initial phase.”
About HealthSpace Data Systems Ltd.
HealthSpace is an industry leader providing inspection, information and communication management systems for federal, state, county and municipal governments. Over the last decade, the Company has successfully developed both enterprise and mobile internet-based applications currently serving over 300 state and local government organizations across North America. Clients range in size from small county organizations to state-wide systems with over 910 concurrent users, as well as national programs. HealthSpace specializes in the field of developing, installing, and maintaining inspection and regulatory management systems for environmental and public health organizations.
Forward-Looking Statements
This release may contain forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although HealthSpace believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. HealthSpace expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
For more information please contact:
Ali Hakimzadeh, Chairman
ali@sequoiapartners.ca
1-604-682-4600
Peter J. Kletas
PJK & Associates Inc.
1-866-999-6251
- Published in Health Space, News Home
From Grey Water to Green Energy
From Grey Water to Green Energy
On average, 10,000 people in the developed world will generate 1,000,000 gallons of warm waste water per day. That is a lot of warm water. It is typically sent to water treatment plants or discharged into lakes, rivers and oceans. Does this seem reasonable? Or does it sound like an opportunity for improvement?
International Wastewater Systems Ltd. (CNSX:IWS) CEO Lynn Mueller likes to suggest jokingly that people are hesitant to shake his hand when they learn that he is in the sewage business. Nonetheless, when they discover that he can help them save money by recovering energy from waste water that is headed down the drain and transform it into green energy they often change their minds and shake hands with enthusiasm.
The underlying principle is so simple that anyone can grasp it. It takes a lot less energy to heat warm water than it does to heat cold water. When waste water from sinks, showers, toilets or laundry leaves a building, it is usually slightly below the ambient room temperature. In a large production plant, the temperature of the water can be even higher. Ultimately, if the energy from effluent can be captured and reused, then the cost of supplying energy to homes, hospitals, sports complexes, university campuses or large scale plants can be significantly reduced.
A great deal of the green energy movement has focused on reducing consumption. This a noble endeavour that will likely continue. Reduced usage and more efficient usage of energy are always desirable, but conservation alone isn’t a complete answer because, as an economy grows, there will continue to be a need for additional quantities of energy.
That’s why most of the emphasis in the search for a different approach to energy has been directed towards finding clean, alternate sources of energy generation. Up to this point in time, the search for better and greener energy sources has been fraught with problems. Either the cost was prohibitive or the technology suboptimal. In some cases, alternative energy generation like windmills and solar power generation have encountered ancillary environmental issues. Sure, they may not pollute in the classic sense, but not many people want large wind-farms or thousands of solar panels in their backyards.
Mr. Mueller, the founder of IWS, took an entirely different approach to the problem. In essence, assessed the typical assumptions related to the costs and benefits of “greener” energy by framing the challenge in a different way and applying an atypical thought process. Rather than trying to find a unique solution at the input phase, why not consider how to make use of existing heat that might be available, but was being overlooked? An evaluation of the entire cycle of energy usage led directly to considering energy recapture alternatives for the warm water in most sewage discharge. Conventional wisdom was that it would be too costly and too messy to process effluent in an efficient way.
Lynn Mueller’s ingenious solution was to use existing technology, coupled with a proprietary filtration process, to separate waste from grey water and extract the heat from it so that the energy could be recycled. The company, International Wastewater Systems http://www.sewageheatrecovery.com, has successfully developed, commercialized and installed the technology. The products called “Sharc” and “Piranha” are being recognized all over the world.
The company has become a success rather rapidly. Mr. Mueller commented; “We quickly went from being a local, small company to a worldwide operation. We’ve seen markets around the world demanding the product”. Mueller has also disclosed that the firm has over $80 million worth of projects in the works.
Recently, the company was recognized with the AHR Expo 2016 award for innovation. Even CNN deemed the company newsworthy and published coverage of IWS on the network’s financial channel at CNNMoney.com on May 24.
The technology has been proven to be cost-effective and easy to install and maintain. The upfront investment varies depending on the size of the installation. Frequently, grants are available in local jurisdictions to cover capital costs. For example, the $1.1 million system installed at Camden County Municipal Utilities Authority in New Jersey benefited from a clean energy grant that covered more than 90{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the cost.
More importantly, the return on investment is easy to calculate. Andy Kricun, the executive director of the Camden County Municipal Utilities Authority, said they’ll recoup their investment in two years. The IWS Sharc technology has a lifespan of approximately 40 years, which means the savings to this utility could ultimately be as much as $2 million.
- Published in Blog, Energy, Green Technology, International Wastewater Systems
Majescor Resources 416,666-share private placement
Majescor Resources 416,666-share private placement
– Momentum Public Relations –
Press Release: January 25, 2017
The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Jan. 4, 2017.
Number of shares: 416,666 flow-through shares
Purchase price: 12 cents per share
Number of placees: one placee
For further details, please refer to the company’s news release dated Jan. 4, 2017.
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in Albert Mining, Mining, News Home