Hillcrest Appoints Chief Operating Officer and is Approved as Operator in Saskatchewan
Momentum Public Relations
Press Release: June 13 2018
The Company is pleased to announce the appointment of Dale Miller to the position of Chief Operating Officer, effective immediately. Mr. Miller brings over 35 years of Canadian oil and gas operating experience across the Western Canadian Sedimentary basin, building oil and gas companies through production and field development as well as acquisitions and divestments.
Mr. Miller has been engaged to establish and manage Hillcrest’s Canadian oil and gas operations, including the West Hazel field re-activation and additional potential producing Canadian oil and gas properties that may be acquired under the recently announced Strategic Alliance with a private company currently sourcing up to US$50,000,000 funding exclusively for oil and gas acquisitions in Canada with Hillcrest.
Under the terms of the Strategic Alliance, Hillcrest will identify, screen and offer potential acquisitions to the private company. If accepted, Hillcrest will facilitate acquisitions, be assigned a 25% carried interest and will operate oil and gas properties acquired, as well as receive management fees and performance bonuses.
As part of his engagement arrangements with the Company, Mr. Miller has been granted 350,000 incentive stock options exercisable at $0.065 per share until June 13, 2022.
In addition, Hillcrest’s wholly owned Saskatchewan subsidiary has been approved as an operator of oil and gas assets in Saskatchewan. Being approved as an operator enables the Company to conduct oil and gas operations in Saskatchewan starting with the West Hazel field reactivation to restore previous production of over 200 bbl/day of oil under the terms of a previously announced Joint Venture Agreement (“JVA”). Pursuant to the JVA Hillcrest earns a 75% working interest in exchange for incurring 100% of the reactivation costs.
For more information on Hillcrest Petroleum Ltd, contact Don Currie toll free at 1-855-609-0006 or visit the Company’s website at www.hillcrestpetroleum.com
ON BEHALF OF THE BOARD
Donald Currie
Chief Executive Officer and Director
Cautionary Statement Regarding “Forward-Looking” Information
Some of the statements contained in this news release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.
- Published in Hillcrest Petroleum
Hillcrest Signs Binding Agreements Forming Strategic Alliance to Pursue Oil and Gas Acquisitions in Western Canada
Momentum Public Relations
Press Release: May 29 2018
Hillcrest Petroleum Ltd . (the “Company” or “Hillcrest”) is pleased to announce that it has signed binding agreements creating a Strategic Alliance (the “Strategic Alliance”) with a private company (the “Partner”) to pursue oil and gas acquisitions in Western Canada. Under the Strategic Alliance, Hillcrest will grant the Partner an exclusive right of first refusal on pre-screened acquisition opportunities to be operated and managed by Hillcrest and will be assigned a 25% carried interest in any acquired assets in exchange for access to its acquisition opportunity register and oil and gas business management services. The Partner will fund 100% of acquisition and development costs.
Hillcrest has compiled a register of potential oil and gas acquisition targets in Western Canada, selected based on criteria including positive operating cash flow from current production operations and the potential to increase the market value of the assets by more than 3x through field development activities. Hillcrest is currently in various stages of discussions with a number of vendors regarding these acquisition targets.
Under the Strategic Alliance, Hillcrest will offer acquisition opportunities to the Partner. Should the Partner elect to pursue one or more of the acquisition opportunities, Hillcrest will facilitate the acquisition on behalf of the Partner, operate the acquired assets under joint venture agreements and implement field development plans intended to maximize the market value of the acquired assets with capital funding provided by the Partner.
The Partner intends to raise up to $50,000,000 to fund potential acquisition and subsequent development of oil and gas assets through an asset secured token offering attached to the acquired oil and gas assets. The Partner has engaged an investment banking and financial services group with specialist expertise in block chain tokens and has initiated activities with them in preparation to market the tokens in the coming weeks.
As previously announced on May 22 nd , and consistent with the terms of the Strategic Alliance, Hillcrest continues to focus on its core business as an oil and gas company with activities directed toward the acquisition, development and management of oil and gas assets.
Highlights of the Strategic Alliance are:
-The Partner has an exclusive first right of refusal to partner with Hillcrest on oil and gas acquisitions in Western Canada identified by Hillcrest.
-The Partner will fund 100% of the acquisition and development costs associated with oil and gas assets.
-Hillcrest will provide oil and gas business management services and will manage and operate assets acquired under the terms of agreements related to the Strategic Alliance between Hillcrest and the Partner.
-Hillcrest will receive a direct 25% carried ownership interest in any assets acquired.
-Hillcrest will receive a management fee and full cost recovery for providing oil and gas business management services to identify, acquire and manage Canadian oil and gas assets, as well as milestone based bonuses and operational performance based bonuses to be agreed with the Partner after assets are acquired.
– The term of the agreements are 5 years, with options to extend.
Don Currie, Hillcrest CEO, states: “The execution of the binding agreements forming this Strategic Alliance with a funding partner is a substantial development for Hillcrest and one that has the ability to fast track our acquisition and development plans. The relationship between the parties will see their capital back our Western Canadian acquisition opportunities, with both parties benefiting as acquisitions are completed and further field development is undertaken to unlock the value in the assets. Assuming the Partner is successful in its financing activities over the coming weeks, Hillcrest would expect to accrue significant short term value increases, at no cost to Hillcrest, through our through carried interest interests in quality oil and gas assets that we have identified and commenced discussions on over the last several months. Further value to Hillcrest could be expected as value is delivered from acquired assets through field development activities managed by Hillcrest and from management fees and various bonus structures under the agreements related to the Strategic Alliance. Another significant benefit, is that Hillcrest will no longer have to consider equity capital raises and/or debt to fund acquisition and development opportunities for growth. We are excited to be aligned with a financial group who recognize and are prepared to invest based on our management team’s extensive experience and track record delivering value from upstream oil and gas projects and who share our belief that this is an excellent time to be acquiring assets in the Western Canadian Sedimentary Basin.”
For more information on Hillcrest Petroleum Ltd, contact Don Currie toll free at 1-855-609-0006 or visit the Company’s website at www.hillcrestpetroleum.com
ON BEHALF OF THE BOARD
Donald Currie
Chief Executive Officer and Director
Cautionary Statement Regarding “Forward-Looking” Information
Some of the statements contained in this news release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.
Neither TSX Venture Exchange nor its Regulations 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 Hillcrest Petroleum
Hillcrest Signs Letter Agreement to Negotiate a Strategic Alliance to Pursue Oil and Gas Acquisitions in Western Canada
Momentum Public Relations
Press Release: May 22 2018
Hillcrest Petroleum Ltd. (the “Company” or “Hillcrest”) is pleased to announce that it has signed a letter agreement (the “Letter Agreement”) with a private company (the “Partner”) to negotiate and form a strategic alliance (the “Strategic Alliance”) for the purpose of pursuing oil and gas acquisitions in Western Canada. It is anticipated that under the Strategic Alliance, Hillcrest will introduce the Partner to pre-screened acquisition opportunities to be operated and managed by Hillcrest, and the Partner would fund the acquisition and development thereof.
Hillcrest has compiled a register of potential acquisition targets in Western Canada, selected based on criteria including positive operating cash flow from current production operations, and the potential to increase the market value of the assets by more than 3x through field development activities. Hillcrest is currently in discussions with a number of these acquisition targets.
Under the proposed Strategic Alliance, Hillcrest will make these acquisition opportunities available to the Partner. Should the Partner elect to participate in one or more of the acquisition opportunities, Hillcrest will facilitate the acquisition and development of the assets with funding provided by the Partner and operate the acquired assets under joint venture agreements. The Partner intends to raise up to $50,000,000 of funding for potential acquisitions and subsequent development of oil and gas assets through an asset backed token offering attached to the acquired oil and gas assets.
As a result of the Strategic Alliance, Hillcrest is no longer considering asset backed token financings in its own right and will continue focusing on its current business as an oil and gas company with its activities directed toward the acquisition, development and management of oil and gas assets.
It is anticipated that the Strategic Alliance will provide for the following:
- – The Partner will have an exclusive first right of refusal to partner with Hillcrest and fund 100% of the acquisition and development costs associated with oil and gas assets identified by Hillcrest during the term of the Strategic Alliance.
– For any assets which the Partner elects to fund, Hillcrest will manage and operate those assets under the terms of joint venture agreements between Hillcrest and the Partner.
– Hillcrest will receive a 25% carried interest in any assets acquired.
– Hillcrest will receive a management fee and be entitled to recover its out-of-pocket costs for managing the assets.
The parties expect to complete a binding definitive agreement to give effect to the terms of the Letter Agreement by the end of May 2018.
Don Currie, Hillcrest CEO, states: “Hillcrest is excited to have created a working relationship with our potential new partner. The relationship between the parties will see their capital back our Western Canadian acquisition opportunities, with both parties benefiting as acquisitions are completed and further field development is commenced. The immediate value to Hillcrest is that we expect to be able to acquire significant interests in quality oil and gas assets we have identified and commenced discussions on over the last several months without significant equity capital raises, thus minimising shareholder dilution or avoiding it altogether. Our management team has an extensive track record of delivering value from upstream oil and gas projects and we believe this is an excellent time to be acquiring assets in the Western Canadian Sedimentary Basin.”
The Company has granted an aggregate of 300,000 incentive stock options to a director of the Company for the purchase of common shares exercisable at a price of $0.06 per share until May 1, 2022.
For more information on Hillcrest Petroleum Ltd, contact Don Currie toll free at 1-855-609-0006 or visit the Company’s website at www.hillcrestpetroleum.com
ON BEHALF OF THE BOARD
Donald Currie
Chief Executive Officer and Director
Cautionary Statement Regarding “Forward-Looking” Information
Some of the statements contained in this news release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.
Neither TSX Venture Exchange nor its Regulations 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 Hillcrest Petroleum
Hillcrest Engages Torrey Hills Capital
Momentum Public Relations
Press Release: April 11, 2018
Hillcrest Petroleum Ltd. (the “Company” or “Hillcrest”) (Trading symbol HRH:TSX.V HLRTF:OTCQB) is pleased to announce that it has engaged San Diego Torrey Hills Capital, Inc. (“Torrey Hills Capital”), a Rancho Santa Fe, California based investor relations firm, to provide market awareness and investor relations services to the Company, subject to TSX Venture Exchange acceptance.
Torrey Hills Capital is a leading investor and financial public relations firm specializing in small and micro-cap companies. Torrey Hills Capital will increase awareness about Hillcrest through its established relationships with investment professionals, investment advisors, and money managers focused on the microcap market space. This will allow the Company to build and maintain an informed investor audience in both the U.S and Canadian marketplaces.
Torrey Hills Capital has been engaged for an initial term of 12 months at a rate of $3,000 in month one, $5,000 in month two, and $6,500 in month three and for all subsequent months. After the twelve months, the engagement will become month to month subject to a 30-day termination notice by either party after month three. In addition, Hillcrest has agreed to a one-time grant of 3 00,000 incentive stock options (the “Options”) exercisable at a price of $0.06 per share for a period of three years. The Options shall be subject to the terms of the Company’s stock option plan and will vest in accordance with the provisions therein and the policies of the TSX Venture Exchange.
Torrey Hills Capital currently has no direct or indirect interest in the securities of Hillcrest , or any right or intent to acquire such an interest except pursuant to the exercise of the above referenced Options.
The appointment of Torrey Hills Capital as an investor relations consultant of Hillcrest and the granting of the Options remain subject to regulatory acceptance of applicable filings with the TSX Venture Exchange.
About Torr ey Hills Capital
Torrey Hills Capital was formed in 1998 and is headquartered in Rancho Santa Fe, California. The team of professionals offers experience and expertise in investor relations, corporate communications, non-deal road shows, and market support activities. Torrey Hills Capital specializes in the development and marketing of emerging growth companies which trade in the United States (NYSE, AMEX, and OTC) and in Canada (TSX, TSX-V, and CSE). Marketing activities articulate key investment attributes, strategic direction, and financial expectations, which combine to ensure that client market value fully reflects past achievements and future opportunities. Further information is available at www.torreyhillscapital.com
For more information on Hillcrest Petroleum Ltd, contact Don Currie toll free at 1-855-609-0006 or visit the Company’s website at www.hillcrestpetroleum.com
ON BEHALF OF THE BOARD
Donald Currie
Chief Executive Officer and Director
Cautionary Statement Regarding “Forward-Looking” Information
Some of the statements contained in this news release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.
Neither TSX Venture Exchange nor its Regulations 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 Hillcrest Petroleum
Saskatchewan Joint Venture Project Update
Momentum Public Relations
Press Release: March 12 2018
Hillcrest Petroleum Ltd. (the ” Company ” or ” Hillcrest “) is pleased to announce that the Company has submitted the license documents to the Provincial Regulator that are required in order to commence the re-development of the West Hazel oil pool (“the Field”), located in Western Saskatchewan. Regulatory approval is expected before the end of April after which the Company will undertake field operations with the objective of restoring oil production from the Field to approximately 300 barrels of oil per day (“bopd”).
Further to previous announcements regarding Western Canada oil assets, the Company has executed an agreement where it, via a wholly owned subsidiary and as operator of record for the field, will earn up to a 75% Working Interest. Production restoration operations are expected to commence during the second quarter of this year. Hillcrest commissioned and received a 3 rd party technical report that identifies additional development opportunities within the Field. Both behind-pipe re-completions as well as in-fill drilling potential have been identified, and Hillcrest is planning to pursue production increases from within the Field during the 3 rd and 4 th quarters of 2018.
The primary terms of the agreement regarding the restoration of production of the Field are as follows:
- – The Company, as operator, will earn up to 75% Working Interest in the Field by contributing technical expertise and funding to restore production. Hillcrest’s Working Interest will revert to 50% once the Company has recovered all production restoration costs from the production revenues.- Hillcrest has arranged third party project funding which has been provided on a non-dilutive basis to Hillcrest shareholders. Project funding will be secured by the Assets and by the Company.
– Additional infield development opportunities, such as well re-completions or development drilling locations, are expected to be financed through cash flow from the assets.
“Hillcrest is very pleased that production restoration operations at the West Hazel field in Saskatchewan are imminent.” Don Currie, Hillcrest Petroleum CEO, states: “The project will provide near-term cash flow which may increase if and when we undertake further development operations. The Field was producing over 300 bopd when the former operators suspended production due to cyclically low oil prices. Hillcrest is confident production can be restored to previous levels after which further development will be considered. The Company has a majority working interest in the Field which was obtained at a very attractive cost level. Current commodity prices along with reduced operating expenses are expected to enhance the profitability of the Field. In addition to West Hazel, Hillcrest continues to review and pursue other Western Canada based opportunities and will inform our shareholders as material acquisitions or partnerships occur.,
For more information on Hillcrest Petroleum Ltd, contact Don Currie toll free at 1-855-609-0006 or visit the Company’s website at www.hillcrestpetroleum.com
ON BEHALF OF THE BOARD
Donald Currie
Chief Executive Officer and Director
Cautionary Statement Regarding “Forward-Looking” Information
Some of the statements contained in this news release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.
Neither TSX Venture Exchange nor its Regulations 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 Hillcrest Petroleum
Arev Nutrition Sciences Inc. Announces Derek Sider as CFO
Momentum Public Relations
Press Release: February 8 2018
AREV Nutrition Sciences Inc. (” AREV ” or the “Company”) ( CSE – AREV ), is pleased to announce Derek Sider has joined the Company as Chief Financial Officer (“CFO”), effective immediately.
Due to the current transaction between the Company and We Grow BC Ltd (“WGBC”), Long Trinh, currently Chief Financial Officer of AREV, has resigned to focus his attention on matters relating to We Grow BC Ltd and closing the transaction with AREV announced on January 17, 2018. The Company is pleased to announce that Derek Sider has been appointed, effective immediately, as Chief Financial Officer (“CFO”).
Derek Sider (Derek) is an experienced financial profession with over 17 years in various international business roles.
Most recently Derek spent 6 years in the mining industry in management roles ranging from M&A to corporate administration and corporate tax. He has participated on a variety of international acquisitions, divestitures, joint ventures and other mining deals with values up to $2 billion. His experience includes corporate finance, corporate tax, securities and corporate law matters, public and private debt, deal negotiation, and corporate structuring.
Prior to that, Derek spent 9 years at PricewaterhouseCoopers, in a number of roles including International Tax in Vancouver and Capital Markets in New York, progressing to the senior manager level.
He has served on a number of non-profits boards, most recently as Treasurer/Finance Committee Chair at the Association of Neighborhood Houses, one of BC’s largest and oldest charities.
Derek is a designated Chartered Professional Accountant (CGA) with a Masters in Science (Tax) with honors and is currently a candidate for a Masters in Business Law (Osgoode Law).
The Company is also pleased to appoint Denby Greenslade as Corporate Secretary of AREV Nutrition Sciences Inc., effective immediately. Ms. Greenslade has over 15 years of corporate secretarial, corporate governance, and securities regulation experience with a focus on the neutraceutical and mining sector in Canada and Mexico. She has served in several senior management and executive roles for companies listed on the Toronto Stock Exchange, TSX Venture Exchange and Canadian Stock Exchange. During her career, she has been involved in numerous transactions and financings, and has led the evaluation, design, implementation and monitoring of governance programs for several junior mining companies.
Further, the Company has hired a consultant with over 12 years of management experience at TELUS to head a number of important Human Resources initiatives. Amongst other things, the consultant will assist with sourcing and place strategic individuals in key roles moving forward.
The Company, effective immediately, has issued 405,000 stock options to Officers and consultants of the Company at a price of $0.56 for a period of 5 years from the issuance date. 25,000 of these options will vest immediately with the remaining 380,000 options on a 2 year vesting schedule: 1/3 immediately, 1/3 at the 1 year mark and the final 1/3 at the end of the second year.
For further information, contact Stephane Maher, CEO at stephane@arevnutrition.com.
On behalf of the Board,
Stephane Maher
Chief Executive Officer & Director
About AREV Nutrition Sciences Inc.
AREV Nutrition Sciences Inc. (“AREV”) produces and delivers functional ingredients from its world-class extraction systems. AREV is revolutionizing the current delivery method of coconut oil, whey protein and nutrients through emulsification. These premium ingredients and products are targeted for the natural health, medical, functional food, nutraceutical, sport nutrition and bioceutical markets. AREV is also working with Pharmacy and Dispensary operators with an innovative emulsified base formula to disperse Cannabis oil extracts from specific selected genetic Cannabis strains that address 5 areas of health including Anxiety, Pain Management, Insomnia, Central Nervous System Disorders & Libido. .
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
FORWARD LOOKING INFORMATION
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in policies of the CSE) accepts responsibility for the adequacy or accuracy of this release. This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company 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 or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.This press release contains forward-looking statements. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to a number of factors and risks various risk factors discussed in the Company’s Management’s Discussion and Analysis under the Company’s profile on www.sedar.com.
Copyright (c) 2018 TheNewswire – All rights reserved.
- Published in AREV Nutrition Sciences
Tetra Bio-Pharma Receives Health Canada Approval for Phase 2 Cannabis Oil Trial in Partnership with Sante Cannabis
Momentum Public Relations
Press Release: January 29, 2018
Tetra Bio-Pharma Inc. (“Tetra” or the “Company”) (TSX VENTURE:TBP)(OTCQB:TBPMF), a global leader in cannabinoid-based drug development and discovery, is pleased to announce the approval by Health Canada of a Phase 2 clinical trial designed to evaluate the safety and efficacy of different doses and ratios of medical cannabis oil (THC & CBD) to improve uncontrolled chronic pain in cancer and non-cancer patients.
“To our knowledge, this is the first Health Canada-approved phase 2, randomized, double-blind, placebo-controlled clinical trial using encapsulated medical cannabis oil in Canada,” said Bernard Fortier, Tetra Bio-Pharma’s CEO. According to an Eight Capital analysis1, the cannabis oil market is expected to reach 1.5B$ in 2024.
“This is a significant milestone in our mission to become a global bio-pharmaceutical leader in cannabinoids-based drug development. We currently have a strong pipeline of five cannabinoid-based products, all launched last year and using different delivery systems, in various stages towards Health Canada and FDA approval.”
The Phase 2 trial will be conducted with Montreal-based Santé Cannabis, Quebec’s first medical clinic and resource centre specializing in cannabis and cannabinoids for medical purposes.
According to Health Canada data2, the annual Canadian cannabis oil production for medical purposes was 22,766 kg between October 1st 2016 and September 30th 2017, and is growing continuously. In the third quarter of 2017, it grew 24% from Q2 (Apr-Jun) to Q3 (Jul-Sep)1.
Dr. Guy Chamberland, Tetra’s Chief Scientific Officer (CSO), also commented that “there is limited scientific and clinical information on the different doses and ratios of medical cannabis oil in the management of pain. This type of clinical trial is required to generate the urgently needed safety and efficacy data required by physicians and pharmacists for the adequate care of patients”.
“We are excited to launch this trial to build the evidence base for medical cannabis in chronic pain, and to demonstrate the leadership of Santé Cannabis on the world stage” said Dr. Antonio Vigano, Research Director of Santé Cannabis and McGill University Associate Professor of Oncology. “At Santé Cannabis, our team observes the impact that cannabis oil has for our patients. For many, medical cannabis can reduce or even eliminate the need for other pharmacological medications. As clinicians and researchers, we must pursue these critical steps to quantify its benefits and to investigate potential risks.”
These studies are part of the Company’s sales and marketing strategy required to effectively penetrate a physician-pharmacist market. The outcome of these studies will also support Tetra’s overall drug development strategy and it is expected that this will allow Tetra to reduce the overall time-to-market for a number of its cannabinoids-based prescription drugs. The company will also use this data to create novel new products that will allow Tetra to further increase its share in the cannabis oil market.
Last year, Tetra launched a number of drug development programs that are expected to lead to the commercialization of cannabinoid-based prescription drugs, making it one of the world leaders in cannabinoid pharmaceuticals. Tetra’s vision is to develop an evidence-based approach similar to that of any other prescription drug, thereby allowing physicians to prescribe, and pharmacists to dispense, these medicines to patients in need.
After receiving approval of a phase 1 clinical trial for its PPP005 cannabis oil program in mid-January of this year, Tetra is now launching a phase 2 trial to assess if cannabis oil treatment will reduce the amount of concurrent pain medications and the need for rescue medications to control chronic cancer and non-cancer pain. This phase 2 clinical trial is a randomized, double-blind, placebo-controlled trial designed to evaluate the safety and efficacy of different doses and ratios of medical cannabis oil. In addition, the study will evaluate the effects on improving symptom burden and on cognition and mood in those chronic pain patients.
Tetra and Santé Cannabis have been preparing for several months to initiate this clinical program. The team at Santé Cannabis has grown to include qualified and experienced personnel in the conduct of clinical trials in compliance with Good Clinical Practices. This trial is driven by the medical experts of Santé Cannabis and will provide much needed safety and efficacy data in this patient population, as well as provide Tetra with critical knowledge of the benefits of different ratios of THC and CBD in pain management.
1: Cannabis Sector, Eight Capital Estimates, July 2017
2: Health Canada Market Data, [https://www.canada.ca/en/health-canada/services/drugs-health-products/medical-use-marijuana/licensed-producers/market-data.html]
About Tetra Bio-Pharma:
Tetra Bio-Pharma (TSX VENTURE:TBP)(OTCQB:TBPMF) is a biopharmaceutical leader in cannabinoid-based drug discovery and clinical development. Tetra is focusing on three core business pillars: clinical research, pharmaceutical promotion and retail commercialization of cannabinoid-based products.
More information at: 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.
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 license 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, the success of the Company’s research strategies, the applicability of the discoveries made therein, the successful and timely completion and uncertainties related to the regulatory process, the timing of clinical trials, the timing and outcomes of regulatory or intellectual property decisions 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. While no definitive documentation has yet been signed by the parties and there is no certainty that such documentation will be signed 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. Anne-Sophie Courtois, DVM
Vice President, Marketing & Communications
(514) 360-8040 Ext. 210
anne-sophie.courtois@tetrabiopharma.com
- Published in Marijuana, Medical Marijuana, Tetra Bio Pharma
Hillcrest Signs Digital Currency Engagement Agreement
Momentum Public Relations
Press Release: January 15
Hillcrest Petroleum Ltd. has signed an engagement agreement with Entoro Capital LLC, headquartered in Houston, Tex., to establish a digital or cryptocurrency initial coin offering. The focus will be on an asset-backed energy security coin offering that will utilize the best-of-breed blockchain technologies for the Canadian energy market.
Hillcrest engaged Entoro as the company’s agent to provide investment banking, business development and consulting services in partnership with the company in potential financing transactions using digital and cryptocurrencies for acquisitions and development of the company’s business plan focused in Alberta and Saskatchewan, Canada.
Entoro, through its relationships and contacts within the investment community, will advise and assist the company to raise capital through an ICO financing, and will assist in identifying and evaluating potential ICO investors. The ICO will be structured and offered through a wholly owned subsidiary of Hillcrest. The offering will be available for investment through various exemptions and regulations currently in effect in Canada, the United States and other jurisdictions around the world.
Any ICO completed would proceed through appropriate regulatory channels to ensure that all activities are compliant and approved by the relevant regulators in jurisdictions where the financing will be offered. The white paper, distribution plan and process will be forthcoming and available from the company and/or Entoro.
“Hillcrest is excited to be working with Entoro Capital and jointly pursuing an ICO as an alternate form of financing which could result in additional value for the company,” stated Hillcrest chief executive officer, Don Currie. “The investment community has been extremely supportive of alternate currencies and Hillcrest looks forward to participating in this new and rapidly evolving investment process. The company will use Western Canadian reserves and production as the value basis for an ICO and will be better placed to attract a broader spectrum of investors. An ICO is considered to be a particularly effective funding alternative for Hillcrest as it may provide access to substantial capital funding to deliver value growth from our existing and new Western Canadian oil and gas projects, without exposing existing shareholders to potential dilution through conventional equity funding.”
- Published in Hillcrest Petroleum
Hillcrest Obtains Alberta Energy Regulator Operator License Approval
Hillcrest Obtains Alberta Energy Regulator Operator License Approval
Momentum Public Relations
Press Release: July 26, 2017
VANCOUVER, B.C. / TheNewswire / July 26, 2017 – Hillcrest Petroleum Ltd. (the “Company” or “Hillcrest”) is pleased to announce that the Company has been approved by Alberta Energy Regulator (AER) to Operate oil and gas assets in Alberta. This is an important step for Hillcrest to move forward with the Alberta part of its work program to re-establish production from oil and gas assets in Alberta and Saskatchewan under its recently announced Joint Venture Agreement.
As previously announced May 10, 2017, Hillcrest signed a binding Joint Venture Agreement (the “JV Agreement”) with a Canadian oil and gas company (“Juniorco”) whereby the Company, via a wholly owned subsidiary, will earn up to a 75{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Working Interest and Operate two petroleum assets located in Western Canada (the “Fields” or “Assets”). The Company expects to restore combined production from the Fields to approximately 400 barrels of oil per day (“bopd) by providing capital funding and technical expertise.
The JV Agreement is consistent with the letter agreement initially signed by the parties and announced on February 21, 2017. Select Primary terms of the JV Agreement are as follows:
-The Company, appointed as operator, will earn up to 75{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the Juniorco’s Working Interest in the Fields by contributing technical expertise and funding to restore production from the Fields. Hillcrest’s Working Interest will revert to 50{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} once the Company has recovered all production restoration costs from the production revenues. Gross production from both Fields collectively is expected to be approximately 400 bopd upon restoration.
-Hillcrest has arranged third party project funding, and these funds are to be provided on a non-dilutive basis to Hillcrest shareholders. Total project funding, including the placement of Operator deposits and Licence Liability Rating (LLR) Bonds, is estimated to cost CDN$2,200,000. Project funding will be secured by both the Assets and the Company.
-Approximately CDN$900,000 in project costs is required to re-establish production from the Fields by way of equipment installation and upgrades, and well work-overs. These projects are expected to reduce operating expenses and restore production, thereby increasing the operating netbacks.
-Project costs include the placement of approximately CDN$1,300,000 in LLR Bonds. The Company expects to recover these LLR Bonds once economic production from the Fields has been re-established for a certain period of time, thereby substantially reducing the net investment in the project.
-This transaction is subject to TSX Venture Exchange approval.
“The first step required to move forward with restoring production has been reached.” Don Currie, Hillcrest Petroleum CEO, states: “Being approved as operator in the Province of Alberta was required for Hillcrest too coordinate work programs with local service companies and vendors. The Company will update the shareholders as we progress towards production of the assets.”
For more information on Hillcrest Petroleum Ltd, contact Don Currie toll free at 1-855-609-0006 or visit the Company’s website at www.hillcrestpetroleum.com
ON BEHALF OF THE BOARD
Donald Currie
Chief Executive Officer and Director
Cautionary Statement Regarding “Forward-Looking” Information
Some of the statements contained in this news release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.
Neither TSX Venture Exchange nor its Regulations 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.
Copyright (c) 2017 TheNewswire – All rights reserved.
- Published in Hillcrest Petroleum, News Home, Oil and Gas
Hillcrest Announces the Closing of the Second and Final Tranche of the $0.07 Unit Non-Brokered Private Placement
Hillcrest Announces the Closing of the Second and Final Tranche of the $0.07 Unit Non-Brokered Private Placement
Momentum Public Relations
Press Release: July 14, 2017
VANCOUVER, B.C. / TheNewswire / July 14, 2017 – Hillcrest Petroleum Ltd. (the “Company”) (TSX-V: HRH) (OTCQB: HLRTF) announces that it has closed the second and final tranche of its non-brokered private placement (the “Offering”) originally announced on May 10, 2017 with updated announcements on June 29, 2017 and July 7, 2017.
Aggregate proceeds of $112,000 were raised on this second tranche closing, and 1,600,000 units (the “Units) at a price of $0.07 per Unit were issued. Each Unit to this second tranche consists of one common share in the capital of the Company (a “Share”) and one-half of one common share purchase warrant (a “Warrant”). Each Warrant entitles the holder thereof to purchase one additional Share at a price of $0.10 per Share until July 14, 2019.
The securities issued in connection with the second tranche is subject to a statutory hold period of four months plus a day in accordance with applicable securities legislation expiring on November 15, 2017.
There were no finder’s fees paid on the second tranche closing.
Together with the proceeds raised on this second tranche closing, and of the previous tranche closing (see press release of July 7, 2017), an aggregate of 5,594,857 Shares have been issued for aggregate total proceeds of $391,640.
The proceeds received from the Offering will be used to retire the remainder of the secured debt, licensing and registration costs in both Saskatchewan and Alberta and for general operation and expenses.
For more information on Hillcrest Petroleum Ltd, contact Don Currie toll free at 1-855-609-0006 or visit the Company’s website at www.hillcrestpetroleum.com
ON BEHALF OF THE BOARD
Donald Currie
Chief Executive Officer and Director
Cautionary Statement Regarding “Forward-Looking” Information
Some of the statements contained in this news release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.
Neither TSX Venture Exchange nor its Regulations 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.
Copyright (c) 2017 TheNewswire – All rights reserved.
- Published in Hillcrest Petroleum, News Home, Oil and Gas