Tetra Bio-Pharma Announces Record Date for Dividend-in-Kind of North Bud Farms Shares
Momentum Public Relations
Press Release: August 31, 2018
Tetra Bio-Pharma Inc. (“Tetra” or the “Corporation“) (TSX VENTURE: TBP) (OTCQB: TBPMF), a global leader in cannabinoid-based drug development and discovery, announced today that its board of directors has declared a dividend-in-kind (the “Dividend”) of 15,500,000 common shares (each a “North Bud Share“) of North Bud Farms Inc. (“North Bud“) owned by Tetra pro rata to the holders of record of outstanding common shares (each, a “Tetra Share“) of Tetra (the “Shareholders of Record“) as at September 7, 2018 (the “Dividend Record Date”). The Dividend will be payable on September 12, 2018. Tetra Shares purchased on the TSX Venture Exchange (the “Exchange“) on or after September 6, 2018 will not be eligible to receive the Dividend. The Corporation would like to remind all holders of Tetra options or warrants who intend to exercise their securities and participate in the Dividend that they should proceed to do so well in advance of the ex-dividend date in order to ensure that they are eligible to receive the Dividend.
The North Bud Shares were acquired by the Corporation in connection with the previously announced sale by the Corporation of GrowPros MMP Inc., details of which are contained in the Corporation’s previous press releases issued on December 21, 2017 and February 22, 2018. The Corporation has filed a Form 3E with the TSX Venture Exchange in respect of the Dividend, notifying the TSX Venture Exchange of the Dividend Record Date.
The Dividend will be paid and satisfied in full by the Corporation transferring the North Bud Shares to the Shareholders of Record on the Record Date, on a pro ratabasis, subject to certain adjustments to account for the Corporation’s withholding obligations under applicable tax laws (as described below). No fractional North Bud Shares, cash or any other form of payment will be payable under the Dividend. Any fractional interests in North Bud Shares under the Dividend will be rounded down to the nearest whole number of shares. Based upon the number of Tetra Shares currently outstanding, and without taking into account the exercise of any options or warrants currently outstanding or the effect of rounding for fractional interests, approximately 0.1012 North Bud Shares will be paid under the Dividend for every 1 Tetra Share held by a Shareholder of Record on the Record Date.
The Dividend will be an “eligible dividend” for the purposes of the Income Tax Act (Canada) and corresponding provincial legislation. The Dividend will be taxable and non-residents of Canada will be subject to Canadian withholding taxes. In order to comply with its statutory withholding obligations, Tetra will, with respect to Shareholders of Record having a registered address outside of Canada on the Record Date, withhold and retain all interest, right and title to that number of North Bud Shares required to meet the Company’s withholding obligations with respect to such shareholders (the “Withheld Shares“) and remit to the Canada Revenue Agency, in cash, the equivalent of the fair market value of the Withheld Shares. The fair market value of the North Bud Shares distributed under the Dividend shall be, subject to certain exceptions, equal to the volume weighted average trading price of the common shares in the capital of North Bud on the Exchange for a period of 5 consecutive trading days prior to the Dividend payment date. Shareholders of Record with questions regarding the tax treatment of the Dividend in their personal circumstances should consult with their own tax advisors or contact their local office of the Canada Revenue Agency and, where applicable, the provincial taxation authorities.
North Bud has filed a final prospectus on August 21, 2018 with the Ontario Securities Commission. The prospectus is available on SEDAR under North Bud’s profile at www.sedar.com. Shareholders are urged to read the prospectus in full, as it contains important information regarding the Dividend, including regarding certain risk factors and certain income tax matters.
This news release does not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction. The North Bud Shares may not be offered or sold in the United States by holders thereof unless registered under the U.S. Securities Act of 1933, as amended, and applicable state securities laws or an exemption from such registration is available.
About Tetra Bio-Pharma Inc.
Tetra Bio-Pharma (TSX-V: TBP) (OTCQB: TBPMF) is a biopharmaceutical leader in cannabinoid-based drug discovery and development with a Health Canada approved, and FDA reviewed, clinical program aimed at bringing novel prescription drugs and treatments to patients and their healthcare providers. The Company has several subsidiaries engaged in the development of an advanced and growing pipeline of Bio Pharmaceuticals, Natural Health and Veterinary Products containing cannabis and other medicinal plant-based elements. With patients at the core of what we do, Tetra Bio-Pharma is focused on providing rigorous scientific validation and safety data required for inclusion into the existing bio pharma industry by regulators, physicians and insurance companies.
For more information visit: www.tetrabiopharma.com
About North Bud Farms Inc.
North Bud Farms Inc., through its subsidiary GrowPros MMP Inc., is pursuing a license under the Access to Cannabis for Medical Purposes Regulations (ACMPR). North Bud is dedicated to the production of both pharmaceutical and food grade cannabinoid inputs. North Bud recently became a reporting issuer in Ontario and has received conditional acceptance to list its common shares on the Canadian Securities Exchange (CSE) under the symbol NBUD.
- Published in Life Sciences, Marijuana, Medical Marijuana, Tetra Bio Pharma
Total Canadian Marijuana Sales to Hit $7.17 Billion in 2019
Deloitte: Total Canadian Marijuana Sales to Hit $7.17 Billion in 2019
Legal Use Expected to Rise by 35%
When Investing Remember, There’s More Than One Way to Skin a Cat
The marijuana market and industry have grown so far and so fast in the last year that it is sometimes difficult to get a handle on it but one thing is clear. It is going to be a huge market.
A report on the emerging marijuana market by Deloitte puts legal, illegal and medical marijuana sales in Canada at $7.17 billion for 2019. According to a May 9, 2018 CBC story The Canadian Imperial Bank of Commerce pegs Canadian marijuana consumption over the next two years at 800,000 kilograms and that by 2020, the recreational market will approach $6.5 billion. To put that sum into perspective $6.5 billion is more than Canadians spend on liquor.
As of August 29, 2018, according to Bloomberg, the biggest Canadian marijuana producer, Canopy Growth, TSX: Weed, was trading at $58.39 a share and had a market cap of $12.569 billion.
The soaring prices of licensed producers may make many decide that investing in marijuana is just too expensive, however, there is more than one way to skin a cat.
There are a number of ways to invest in the marijuana gold rush that don’t involve spending the mortgage money. It isn’t just the licensed growers that are growing in value. Suppliers to the industry will gain value as well, and may offer much more affordable entry points. Think fertilizer suppliers, hydroponics lighting suppliers and marijuana greenhouse builders.
One company in this vein is Radient Technologies, (TSXV: RTI) trading at $0.99 a share as of August 29, 2018. Just to set this up a little, That Deloitte report linked at the top of this blog predicts that six out of ten Canadian marijuana consumers will opt for edibles as opposed to smoking. Radient makes marijuana extraction equipment that the company states offers higher and more pure yields at a lower price than any other method. The company holds a Dealers License from Health Canada for its research and development laboratory and expects to gain an ACMPR license by the end of this October. The company also has a partnership with Aurora to process marijuana for medical marijuana cannabinoids. Radient is expanding its reach to Europe.
It has also applied to the US Food and Drug Administration to consider its MAP technology, patent pending, as a method to reduce nicotine levels in tobacco. The company offers exposure to the medical marijuana market, edibles and the hemp market which largely consists of protein and consumer health supplements. The company is in the process of expanding its facilities.
Namaste Technologies, (TSXV: N) $1.84 as of August 29, 2018. Namaste Technologies has a chance at becoming the Amazon of Pot. The company is a medical marijuana licensed producer through subsidiary Cannmart. It is also much more than that.
Namaste started out as a medical marijuana e-commerce hub. The company believes that it is the largest online medical cannabis retailer in the world with operations in 20 countries. It has the majority market share in Europe and Australia, as well as operations in the UK, Canada and Germany. It is now entering the Brazilian and Mexican markets. Along with filling prescriptions Namaste also distributes vaporizers and accessories.
Its newest wrinkle is Namaste MD, which has been launched in Canada, an application that works on iphone and Android devices that allows medical marijuana consumers to book a video conference with a doctor, acquire a prescription and then fill the order with either a same day or two day delivery.
Through the application Namaste will also offer advice on the best strain to fit the prescription and offer a variety of growers’ products as well as imported medical marijuana. Given the success of Amazon and the public’s predilection for online ordering Namaste MD may very well prove a winner.
In Canada we tend to look only at our own markets when considering our marijuana stock options. When we look at Canadian powerhouses like Canopy Growth or Aurora we really don’t take into account their international operations or ambitions.
While Namaste offers international exposure to a market that is only growing larger so does up and comer Crop Infrastructure Corp. Trading on the CSE as CROP, shares had reached $0.29 by midday on August 29, 2018.
CROP was formed to address the problem that many licensed medical and recreational marijuana producers face in both emerging and American markets where recreational marijuana has been legalized. While marijuana has been legalized in numerous American states the federal government has not legalized consumption and federal regulations prohibit traditional sources of financing from lending to the marijuana sector.
One way to look at CROP is to see it as a REIT, a real estate investment trust because it owns, operates or finances income producing real estate.
As an investment vehicle CROP fills the financial need by providing the capital needed to set up marijuana production facilities from, buying the land to building the access roads foundations and greenhouses. The company makes its money through attractive leasing and management fees.
CROP Infrastructure Corp. loans capital to purchase real estate, which is leased to the licensed producers. The company receives a 60% preferential payback via lease and management fees on greenhouse infrastructure related equipment, until its deployed capital is returned in full. Once its investment is repaid in full, CROP’s 30% interest in the real estate & infrastructure will receive dividends indefinitely.
The company is a savvy operator, the cannabis being grown at its Washington State operation costs $200 a pound to grow or $0.44 a gram. The company has operations in California, Nevada and Washington State, Italy and Jamaica. Eventually it plans to operate in every jurisdiction that is legal including Canada, partnering with best in class producers. Crop also has a joint venture in dispensary applications in West Hollywood and San Bernardino. It has developed a portfolio of 15 cannabis brands and has the US and Italian distribution rights to a line of 55 topical cannabis products from the Yield Growth Corp. The company recently announced that Greg Douglas, the former CEO of Jamaica’s Cannabis Licensing Authority had joined Crop as a member of the Executive Advisory Board, with a special focus on Jamaican operations.
This blog should not be construed as investment advice. Investors should and must perform their own due diligence when considering stock investments.
- Published in Uncategorized
Tetra Bio-Pharma Adds New Marketing Vice-President
Momentum Public Relations
Press Release: August 30, 2018
Tetra Bio-Pharma Inc., a leader in cannabinoid-based drug discovery and development (TSX VENTURE: TBP) (OTCQB: TBPMF), is pleased to announce that Mr. Steeve Neron has joined Tetra Bio-Pharma as Vice-President, Marketing, effective August 20, 2018. He will be responsible for all Tetra Bio-Pharma and Tetra Natural Heath marketing activities.
Steeve has more than 32 years’ experience in the pharmaceutical industry with demonstrated success in numerous therapeutic sectors including cardiology, rheumatology, endocrinology, women’s health, asthma/COPD, OTC and dermatology where challenging the reimbursement landscape factored prominently in his role. Prior to joining Tetra Bio-Pharma he occupied a senior marketing position at Bausch Health Canada, formerly Valeant.
Steeve has held various marketing, sales, finance, material management and business development positions and has worked to launch or rejuvenate numerous market leading pharmaceutical brands including Aerius™ (antihistamine), Altace™ (hypertension), Ezetrol™ (cholesterol), Eliquis™ (anti-coagulant), Lodalis™ (cholesterol) and Contrave™ (Obesity).
“I am very proud to add Steeve to our senior management team. His vast experience will enable Tetra to achieve its high standards in executional excellence,” says Richard Giguere Executive Vice-President, Commercial Operations.
“I am very excited to have the opportunity of contributing my pharmaceutical marketing knowledge within the growing cannabinoid-based products sector,” said Steeve Neron. “Tetra has set the bar high from a clinical development standpoint and this is a critical factor to maximize the therapeutic potential of cannabis.”
About Tetra Bio-Pharma
Tetra Bio-Pharma (TSX-V: TBP) (OTCQB: TBPMF) is a biopharmaceutical leader in cannabinoid-based drug discovery and development with a Health Canada approved, and FDA reviewed, clinical program aimed at bringing novel prescription drugs and treatments to patients and their healthcare providers. The Company has several subsidiaries engaged in the development of an advanced and growing pipeline of Bio Pharmaceuticals, Natural Health and Veterinary Products containing cannabis and other medicinal plant-based elements. With patients at the core of what we do, Tetra Bio-Pharma is focused on providing rigorous scientific validation and safety data required for inclusion into the existing bio pharma industry by regulators, physicians and insurance companies.
For more information visit: www.tetrabiopharma.com
Source: Tetra Bio-Pharma
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.
- Published in Life Sciences, Medical Marijuana, News Home, Tetra Bio Pharma
CROP Subsidiary to Open Italian Retail Locations Launching Its First Line of Hemp Oil Infused Products in Italy
Momentum Public Relations
Press Release: August 30, 2018
CROP Infrastructure Corp. (CSE: CROP) (OTCMKTS: CRXPF) (“CROP” or the “Company”)announces it will launch its first line of Hemp oil infused cosmetic and therapeutic products under the brand “URBAN JUVE”, pursuant to its previously announced License Agreement with The Yield Growth Corp.’s subsidiary, Urban Juve Provisions Inc. (formerly Juve Wellness Inc.). The License Agreement gives CROP exclusive rights in Italy to the URBAN JUVE products, as well as non-exclusive distribution rights in the United States.
Furthermore, the Company in partnership with the team from Xhemplar S.R.L. CROP’s cultivation and extraction joint venture partner in Italy, is scouting locations to open 2 CBD retail outlets in Northern Italy under the company’s Emerald Heights brand, before the end of 2018.
The URBAN JUVE product line which will be featured prominently along with Xhemplar products, and Hempire hemp oil products at all Italy locations. Urban Juve is inspired by Ayurvedic philosophy and is created for the modern, wellness-conscious consumer. The unique formulations benefit consumers seeking natural products made with the highest quality ingredients. Urban Juve is manufacturing its first line of 12 topical products in the fall of 2018. All the products contain hemp oil procured through a patent pending hemp oil extraction process. Crop has the right to add hemp oil to the products and distribute them throughout Italy.
According to a study by Arcview Market Research and its research partner BDS Analytics, by 2027 worldwide sales of legal cannabis are forecast to reach $57 billion. During that period, spending in North America is expected to leap from $9.2 billion to $47.3 billion driven mainly be recreational use. The fastest cannabis market growth is expected to come from outside North America, especially Europe where the main growth driver will be medical applications. Medical cannabis use will be fed by $1.3 trillion estimated annual government-subsidized healthcare spending. The structure of the healthcare industry is expected to make Europe the number one medical cannabis market in the world.
“We are excited to be partnered with CROP for the European launch of the URBAN JUVE hemp oil infused product line,” says Penny Green, President and CEO of Yield Growth. “CROP is a demonstrated leader in the international hemp market with affiliations to hemp production in Nevada, California, Washington, Italy and Jamaica.”
CROP Infrastructure Director & CEO Michael Yorke states: “We are pleased with the URBAN JUVE branding initiative by Yield Growth and feel it will resonate with health and lifestyle consumers. We look forward to offering the URBAN JUVE products in Italy.”
About CROP Infrastructure Corp.
CROP Infrastructure Corp. is publicly listed on the Canadian Securities Exchange and trades under the symbol “CROP” and in the US under the symbol “CRXPF”. CROP is primarily engaged in the business of investing, constructing, owning and leasing greenhouse projects as part of the provision of turnkey real estate solutions for lease-to-licensed cannabis producers and processors offering best-in-class operations. The Company’s portfolio of assets includes cultivation properties in California, Washington State, Nevada, Italy, Jamaica and a joint venture on West Hollywood and San Bernardino dispensary applications. CROP has developed a portfolio of 16 Cannabis brands and has US and Italian distribution rights to a line of over 55 topical cannabis products from The Yield Growth Corp.
Company Contact
Michael Yorke – CEO & Director
E-mail: info@cropcorp.com
Website: www.cropcorp.com
Phone: (604) 484-4206
- Published in Business, CROP Infrastructure, Medical Marijuana, News Home
CROP’s Wheeler Facility Commences Commercial Production
Momentum Public Relations
Press Release: August 28, 2018
CROP Infrastructure Corp. (CSE: CROP.CN) (OTCMKTS: CRXPF) (CROP.CN) (“CROP” or the “Company”) announced today that its tenant has now commenced commercial production at Wheeler Park. The facility is designed for perpetual harvest of cannabis at ‘The Park’, its state-of-the-art facility in Washington State. Crop’s licensed tenant grower has now advised the Company that it expects its first harvest of cannabis within weeks and it will be at full scale production in September 2018. The perpetual harvest system utilizes cannabis strains with a 55-60 day flower cycle. Every other day the tenant grower removes three trays of flowered plants from the finishing end and harvests the plants, while simultaneously loading three new trays with plants to begin the flowering process.
The Park cannabis greenhouse is 35,000 sqft and sits on approximately nine acres of land. The facility recently underwent a complete retro-fit for hydroponic automation and the addition of 500 Gavita HPS grow lights. The greenhouse facility has five flowering bays that are designed to yield, at full scale production, approximately 12,000 pounds of high quality cannabis annually (~1,000 pounds per month). The current operating cost is $50,000 USD per month.
CROP Infrastructure Director and CEO, Michael Yorke, stated: “With harvests now underway in Californiaalong with our Washington tenant weeks away from its first harvest, the Company is now at a turning point. The Company expects four of its six tenant licensees to harvest at its farms, with each set to begin cash flowing in Q4 2018.”
About CROP Infrastructure Corp.
CROP Infrastructure Corp. is publicly listed on the Canadian Securities Exchange and trades under the symbol “CROP” and in the US under the symbol “CRXPF”. CROP is primarily engaged in the business of investing, constructing, owning and leasing greenhouse projects as part of the provision of turnkey real estate solutions for lease-to-licensed cannabis producers and processors offering best-in-class operations. The Company’s portfolio of assets includes cultivation properties in California, Washington State, Nevada, Italy, Jamaica and a joint venture on West Hollywood and San Bernardino dispensary applications. CROP has developed a portfolio of 16 Cannabis brands and has US and Italian distribution rights to a line of over 55 topical cannabis products from The Yield Growth Corp.
Disclaimer for Forward-Looking Information
Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. In addition, marijuana remains a Schedule I drug under the United States Controlled Substances Act of 1970. Although Congress has prohibited the US Justice Department from spending federal funds to interfere with the implementation of state medical marijuana laws, this prohibition must be renewed each year to remain in effect. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding the expected yield from The Jamaica Property; the technological effects of The Jamaica Property on production; the intention to expand its portfolio; and execute on its business plan. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding the regulatory and legal framework regarding the cannabis industry in general among all levels of government and zoning; risks associated with applicable securities laws and stock exchange rules relating to the cannabis industry; risks associated with maintaining its interests in its various assets; the ability of the Company to finance operations and execute its business plan and other factors beyond the control of the Company. Such forward-looking statements should therefore be construed in light of such factors, and the Company is not under any obligation, and 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, except as required by applicable law.
Company Contact
Michael Yorke – CEO & Director
E-mail: info@cropcorp.com
Website: www.cropcorp.com
Phone: (604) 484-4206
View original content:http://www.prnewswire.com/news-releases/crops-wheeler-facility-commences-commercial-production-300702936.html
- Published in Business, CROP Infrastructure, Medical Marijuana, News Home
Sirona Biochem Receives $500,000 USD Milestone Payment from Wanbang Biopharmaceuticals
Momentum Public Relations
Press Release: August 28, 2018
Sirona Biochem Corp. (TSX-V: SBM) (FSE: ZSB) (Xetra: ZSB) (the “Company”) announced that it has received the $500,000 USD milestone payment from partner Wanbang Biopharmaceuticals Co., Ltd (“Wanbang”) for approval by the China Food and Drug Administration of the Phase I Clinical Trial for Sirona’s SGLT-2 inhibitor. Sirona’s SGLT-2 inhibitor, TFC-039, will continue to be developed for the treatment of Type 2 diabetes. Since the two companies signed a licensing agreement in 2014, Sirona Biochem has secured $1.5 million USD in development milestones from Wanbang.
Shortly after the announcement of the approval, Sirona CEO, Dr. Howard Verrico met with the Wanbang team at the Shanghai Fosun Pharmaceutical Industrial Development Company Limited (“Fosun”) headquarters in Shanghai. The meeting focused on next steps in the development of “Wangeliejin”, the name for TFC-039. Wanbang expressed their full dedication to the SGLT-2 inhibitor project. The team also shared that while Wanbang has primarily focused on developing generic drugs, developing TFC-039 shows a need for such a medication in China and their belief in Sirona’s compound. They have heavily invested time and money into the first phase of testing and are dedicated to continuing through to market. Clinical trials are currently being set up and anticipated to begin as early as October – a milestone achievement for both teams.
“As we move into the second half of 2018, we are pleased with the dedication and progress Fosun has made in developing Sirona’s SGLT-2 inhibitor for the Chinese market. Following our most recent meeting in Shanghai, both teams remain enthused about the project and partnership,” said Dr. Howard Verrico, CEO. “Wanbang’s powerful marketing, distribution and retail channels allows them to maintain a strong position in the diabetes treatment market. We look forward to the continued progress in working towards a treatment for Type-2 diabetes.”
About Wanbang Biopharmaceuticals and Fosun Pharmaceuticals
Wanbang Biopharmaceuticals develops, manufactures and sells drugs with indications for chronic disease treatment including endocrine diseases in China. Founded in 1981, they are presently headquartered in Xuzhou, China and are a subsidiary of Shanghai Fosun Pharmaceutical Co., Ltd. Fosun is a leader in the pharmaceutical industry and regarded as one of the top domestic pharmaceutical companies in China. For more information on Fosun and Wanbang, visit https://www.fosunpharma.com/en/.
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.
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 Life Sciences, News Home, Sirona Biochem
DIAGNOS Announces Private Placement of Common Stocks and Stock Warrants
Momentum Public Relations
Press Release: August 24, 2018
DIAGNOS Inc. (“DIAGNOS” or the “Corporation”) (TSX Venture:ADK) (OTCQB:DGNOF), a leader in early detection of critical health issues through the use of Artificial Intelligence, announces a private placement (“Private Placement”) of up to 1,333,333 units (each a “Unit”) issued at $0.075 per Unit for gross proceeds of up to $100,000. Each Unit consists of;
- one common share (“Share”), and
- one stock warrant (“Warrant”) entitling the holder to purchase one Share per Warrant at a price of $0.10 per Share, for a period of 18 months from the date of issuance of the Warrant.
The proceeds will be used to fund marketing and administrative expenses.
Shares issued as part of the Private Placement as well as the underlying Shares to be issued upon exercise of the Warrants are subject to a statutory four-month hold period from the date of issuance.
Closing of the Private Placement is scheduled for August 30, 2018. The Private Placement is subject to receipt of all required regulatory approvals, including the approval of the TSX Venture Exchange, as well as the execution of formal documentation.
All monies quoted in this press release shall be stated and paid in lawful money of Canada.
About DIAGNOS
DIAGNOS is a publicly-traded Canadian corporation with a mission of early detection of critical health issues through the use of its Artificial Intelligence (“AI”) tool CARA (Computer Assisted Retina Analysis). CARA is a tele-ophthalmology platform that integrates with existing equipment (hardware and software) and processes at the point of care. CARA’s Artificial Intelligence image enhancement algorithms make standard retinal images sharper, clearer and easier to read. CARA is accessible securely over the internet, and is compatible with all recognized image formats and brands of fundus cameras, and is EMR compatible. CARA is a cost-effective tool for screening large numbers of patients in real-time and has been cleared for commercialization by several regulatory authorities such as Health Canada, the U.S. Food and Drug Administration and the European Union.
Additional information is available at www.diagnos.com and www.sedar.com.
For further information, please contact:
Mr. André Larente, President | Josh Falle |
DIAGNOS Inc. | Momentum PR |
Tel: 450-678-8882 ext. 224 | Tel: 514-416-4656 |
alarente@diagnos.ca | josh@momentumpr.com |
- Published in Business, Diagnos, Life Sciences, News Home, Technology
CCW Intersects Cobalt-Enriched Vein Structures, Second Drill Program Starts at Castle
Momentum Public Relations
Press Release: August 24, 2018
Canada Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the “Company” or “Canada Cobalt”) is pleased to announce that ongoing underground drilling has intersected visual cobalt mineralization in most of the 40 drill holes completed to date, covering a distance of 200 meters, while surface drilling of high value targets has commenced approximately 1.5 km east of the Castle mine near Gowganda in the Northern Ontario Cobalt Camp.
Highlights:
- Underground drilling supports Canada Cobalt’s geological model that vein structures untouched by first level mining in the 1980’s are enriched with cobalt-nickel arsenides and cobalt arsenides, two favoured assemblages for the targeted cobalt mineralized system (assay results will be reported as they become available);
- Surface drilling will test multiple targets in a broad potential new discovery area east of the Castle mine and two other significant past producers – Phase 1 drilling will consist of a minimum of 2,000 meters;
- Results from stripping of outcrop, trenching and MMI soil sampling within a large circular Nipissing diabase basin east and east-southeast of the mine are supported by strong induced polarization (IP) conductivity and chargeability anomalies including a 725-meter-long IP anomaly with an associated chargeability halo;
- High-grade cobalt and silver are primary targets of surface drill program, but potential nickel/PGE’s in ultramafic gabbro and high-grade gold potential in Archean volcanics underscore the robust and diverse nature of the Gowganda system.
Jacques Monette, mine supervisor and Canada Cobalt director, commented: “Activity remains intense. In addition to continuing to intersect promising vein structures underground, with the latest drilling occurring near the #3 Shaft where there is an impressive network of veins, the pilot plant is operating smoothly while we’ve also launched a cost-effective program to dewater the second level of the mine. Surface drilling more than a kilometer east of the mine has crews excited about the prospect of a potential new discovery.
“Canada Cobalt has also been approached by various stakeholders in the district and elsewhere with respect to our Re-2OX process that has produced a premium grade cobalt sulphate product sourced from mineralized material from the Castle mine. Our plan, as the battery sector continues to grow, is to leverage Re-2OX to capture the greatest value possible for shareholders,” Monette concluded.
Qualified Person
The technical information in this news release was prepared under the supervision of Frank J. Basa, P.Eng., Canada Cobalt’s President and Chief Executive Officer, who is a member of Professional Engineers Ontario and a qualified person in accordance with National Instrument 43-101.
About Canada Cobalt Works Inc.
Canada Cobalt is a pure play cobalt company focused on its past producing Castle mine in the Northern Ontario Cobalt Camp, Canada’s most prolific cobalt district. With underground access at Castle, a recently installed pilot plant to produce cobalt-rich gravity concentrates on site, and a proprietary hydrometallurgical process known as Re-2OX for the creation of technical grade cobalt sulphate as well as nickel-manganese-cobalt (NMC) formulations, Canada Cobalt is strategically positioned to become a vertically integrated North American leader in cobalt extraction and recovery.
“Frank J. Basa”
Frank J. Basa, P. Eng.
President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
SOURCE Canada Cobalt Works Inc.
View original content: http://www.newswire.ca/en/releases/archive/August2018/24/c2626.html
Contact:
Frank J. Basa, P.Eng., President and CEO at 1-819-797-4144
- Published in Canada Cobalt Works, Mining, News Home