Sage Gold (SGX:tsxv) to Acquire Remaining 40 Interest in Clavos
Sage to Acquire Remaining 40{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Interest in Clavos
Sage Gold Inc. (TSX VENTURE:SGX) (“Sage”) has entered into an agreement to acquire the remaining 40{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} interest in the Clavos Gold property (“Clavos”) located in Timmins, Ontario from St Andrew Goldfields Ltd., a wholly-owned subsidiary of Kirkland Lake Gold Inc. (collectively referred to as “Kirkland Lake Gold”).
As part of the agreement, Sage is required to pay Kirkland Lake Gold $1,000,000 in cash and grant Kirkland Lake Gold a two percent (2{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}) Net Smelter Return Royalty (“Royalty”) over Clavos. Sage may at any time purchase one-half of the Royalty by providing Kirkland Lake Gold written notice as well as a cash payment of $1,000,000, which will thereby reduce the Royalty rate to one percent (1{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}). On completion of this agreement Sage will own 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of Clavos, subject to certain pre-existing royalty interests.
The agreement is subject to a number of conditions including the completion of an equity investment of $1.85 million by CRH Mezzanine Pte. Ltd. a wholly-owned subsidiary of Cartesian Royalty Holdings Pte. Ltd and regulatory approval. This equity investment forms part of an $11.5 million financing package to be provided by Cartesian Royalty Holdings Pte. Ltd. The financing will be used to fund the purchase of Kirkland Lake Gold’s interest in Clavos, the development and restart of the Clavos Gold project, retire outstanding secured debt and fund working capital.
About Sage Gold
The Company is a mineral exploration and development company which has primary interests in near-term production and exploration properties in Ontario. Its main properties are the Clavos Gold property in Timmins and the 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} owned Lynx copper, gold, silver property and other exploration properties in the Beardmore-Geraldton Gold Camp. Technical reports and information relating to the properties can be obtained from the System for Electronic Document Analysis and Retrieval (SEDAR) website at www.sedar.com and www.sagegoldinc.com.
IWS Announces Hadi Dowlatabadi and Pär Dalin to Join Advisory Board
IWS Announces Hadi Dowlatabadi and Pär Dalin to Join Advisory Board
– Momentum Public Relations –
Press Release: October 21, 2016
International Wastewater Systems Inc. (the “Company”) (CSE:IWS) (FRANKFURT:IWI) (OTC PINK:INTWF) is pleased to announce that Dr. Hadi Dowlatabadi and Mr. Pär Dalin have joined as members of the IWS Advisory Board. IWS’s Advisory board was established to formally leverage IWS’s network of renewable energy experts and industry leaders already supporting the adoption of IWS technology around the world.
Dr. Hadi Dowlatabadi
Dr. Dowlatabadi is the Canada Research Chair & Professor in Applied Mathematics and Global Change at the University of British Columbia; a University Fellow at Resources for the Future, a Washington DC think tank; and an Adjunct Professor at Carnegie Mellon University’s Department of Engineering & Public Policy.
Dr. Dowlatabadi received a BSc in Physics from Edinburgh University (1980) and a PhD in physics (focussing on integrated energy systems) from the Cavendish Laboratories at the University of Cambridge (1984). His research focuses on interacting social, economic and environmental systems, and how these systems create and respond to challenges over time, at the interface of technology, energy, the environment, public health and public policy.
In 2004 Dr. Dowlatabadi co-founded the non-profit Offsetters Climate Neutral Society, a leading provider of sustainability and carbon-management solutions. Offsetters made the 2010 Vancouver Winter Olympics climate neutral and has been a pioneer in GHG reduction strategies.
In 2007 Dr. Dowlatabadi co-founded Green-Erg Technologies, a Company focused on energy efficiency projects. Green-Erg is currently building the first off-grid biomass based community energy system (3MWth, 720kWe) in Canada.
In 2012 Dr. Dowlatabadi co-founded HydroRun a company that is developing a novel hydrokinetic device to generate electricity from the energy of free-flowing streams, with the goal of dispatchable renewable electricity generation at competitive prices to the grid.
Dr. Dowlatabadi was a lead author on the Intergovernmental Panel on Climate Change and also on the Millennium Ecosystem Assessment.
Mr. Pär Dalin
Mr. Pär Dalin is currently the Chairman and Partner at Devcco AB (District Energy Venture) in Stockholm, Sweden, a developer of international energy utility and district energy projects. Devcco’s partners have led several of the world’s largest and most pioneering District Cooling and multi utility developments for the last two decades.
Mr. Dalin was previously a co-founder and CEO of Capital Cooling Holding AB where he led energy utility development partnerships with a focus on District Cooling in the US, China, Middle East, Europe and the Caribbean.
Mr. Dalin currently serves as a District Energy advisor to both the Swedish Environmental Protection Agency and the United Nations. He also serves as the Swedish representative and Chairman of the District Cooling group of Euroheat & Power, a Brussels-based group representing the District Energy sector with public and private sector representatives from over thirty countries.
Mr. Dalin holds a Bachelor degree from Thayer School of Engineering in Hanover, USA, and a Masters degree from the Royal Institute of Technology, Stockholm.
Lynn Mueller, CEO of IWS commented: “The global District Energy sector is growing rapidly due to increased economic incentives for energy efficiency projects worldwide, and demand for IWS’s thermal heat recovery technology in district-scale projects is growing commensurately. Dr. Dowlatabadi and Pär Dalin are world class additions to our Advisory Board and IWS will benefit enormously from their expertise in District Energy projects.”
ON BEHALF OF THE BOARD
Lynn Mueller, Chairman and Chief Executive Officer
About International Wastewater Systems Inc.
International Wastewater Systems Inc. is a world leader in thermal heat recovery. IWS systems recycle thermal energy from wastewater, generating the most energy efficient and economical systems for heating, cooling & hot water for commercial, residential and industrial buildings. IWS is publicly traded in Canada (CSE:IWS), the United States (OTC:INTWF) and Germany (FRANKFURT:IWI).
- Published in Green Technology, International Wastewater Systems, Mining, News Home
Gold is likely to rise regardless who is elected U.S. President
Why Gold will rise no matter who becomes the next U.S. President
Published on MarketWatch: Oct 19, 2016 5:58 a.m. ET
By: Myra P. Saefong – Markets/commodities reporter
Sustained rise for gold if Trump wins, shorter climb if Clinton wins: analyst
Gold bulls might win either way.
Gold prices have enjoyed a hefty climb so far this year as the market continues to guess the pace and timing of the next U.S. interest-rate hike, but the battle for the U.S. presidency is set to take center stage as Election Day nears.
And it doesn’t matter if Republican Party nominee Donald Trump or Democratic Party nominee Hillary Clinton moves on to be the next president of the United States—gold is likely to come out a winner, George Milling-Stanley, head of gold investment strategy at State Street Global Advisors, told MarketWatch.
“I would look for a sustained rise if Trump is elected, with perhaps a gain of shorter duration if Clinton is victorious,” he said.
“There can be little doubt that a Trump victory would be disruptive in both political and economic terms, given that this is what the candidate has promised,” he said. “I would expect gold prices to head higher on increased safe-haven buying in the event of a Trump victory.”
Trump has promised sweeping tax cuts and a large jump in infrastructure spending, arguing that the plan would create millions of new jobs. Clinton has called for tax hikes on the wealthy. She’s also called for closing corporate tax loopholes and other reforms that would help pay for an infrastructure spending plan of her own.
‘I would look for a sustained rise if Trump is elected, with perhaps a gain of shorter duration if Clinton is victorious.’
George Milling-Stanley, State Street Global Advisors
But gold prices are likely to climb even if opponent Clinton wins the presidency, said Milling-Stanley.
Gold probably wouldn’t see quite as dramatic a rise in the event of a Clinton win, compared with Trump, but Clinton as president is expected to have inflationary implications, which would imply higher gold prices as well, he said. Gold is often used as a hedge against inflation.
“There is little detail available over [Clinton’s] plans for increased spending on infrastructure, but that could be a factor in raising the rate of inflation,” said Milling-Stanley.
Still, the presidential election is likely a temporary distraction.
Milling-Stanley said interest rates will remain the gold market’s primary focus.
So far, “I have not seen convincing evidence of any significant moves in the gold price contingent on developments in the presidential election campaigns, and I would expect that to continue,” he said. “Shifts in the financial markets’ interpretation of whether new comments from FOMC members should be seen as hawkish or dovish look likely to continue to dominate.”
Gold is much more “responsive to interest-rate concerns, than to presidential politics,” ensuring further volatility for gold and financial markets across the board, he said.
And given the current climate of uncertainty, Milling-Stanley said he does “not see a lot of downside risk for gold.”
December gold futures GCZ6, -0.09{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} settled at $1,262.90 an ounce on Tuesday. The precious metal is up roughly 19{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} year to date, leaving it on track to break a three-year streak of annual losses.
Once the Federal Open Market Committee actually raises rates, Milling-Stanley expects the U.S. dollar DXY, +0.43{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} to decline and gold to rise—which is what happened when 25-basis-point rate increase was announced in December of 2015.
“Movements in the dollar look very much to me like a repeat of the ‘buy the rumor, sell the news’ activity we saw last November and December,” he said.
View Original on MarketWatch
- Published in Blog
AtmanCo acquisition of VoxTel, Informationtelcharge
The TSX Venture Exchange has accepted for filing the documentation relating to an arm’s-length agreement for the acquisition of all the issued and outstanding shares of 9136-2897 Quebec Inc. (VoxTel) and Informationtelcharge, in consideration of a total purchase price of $3-million, including $1.45-million cash at closing, the assumption of a $200,000 line of credit, $600,000 as a balance of sale payable over five years starting six months after closing, and the issuance at closing of 5,612,514 common shares and 5,101,771 subscription receipts convertible into common shares having an aggregate deemed value of $750,000. Each subscription receipt is convertible into a common share, without payment of any further consideration, if, following that conversion, the holder would hold (directly or indirectly) less than 10 per cent or more of the company’s common shares, including those held by joint actors.
For further information, please refer to the company’s press releases dated June 9, Sept. 27 and Oct. 6, 2016.
RewardStream Further Strengthens Advisory Board with Addition of Senior Executive Jamie Anderson
UPDATE – RewardStream Further Strengthens Advisory Board with Addition of Senior Executive Jamie Anderson
Anderson brings 18 years of experience working with major brands in online loyalty and retention marketing
– Momentum Public Relations –
Press Release: October 18, 2016
RewardStream Solutions Inc. (“RewardStream” or the “Company”) (TSX VENTURE:REW)(FRANKFURT:JL4L) (WKN Number A2APX1), a world leader in automated referral marketing solutions has announced that senior executive Jamie Anderson has joined the Advisory Board.
Anderson is currently the Vice President of Partnerships at Points International Ltd. Points is the global leader in providing loyalty eCommerce and technology solutions to the world’s top brands. Most recently, Anderson lead the expansion of the Points business into Europe and the Middle East. Prior to Points, Anderson worked in senior online marketing roles at AOL, DoubleClick and Loyalty One.
“We are pleased to welcome Jamie to our Advisory Board,” said Rob Goehring, Chief Executive Officer of RewardStream. “Jamie has had an extensive career in digital marketing, loyalty and ecommerce. His background serving major global brands will add tremendous capabilities to our team, and we look forward to leveraging his expertise to grow RewardStream in North America as well as Europe.”
“I look forward to helping RewardStream accelerate the growth of their business in both domestic as well as international markets,” stated Anderson. “Referral marketing is an excellent extension of many marketing programs and I believe with their flexible technology platform, RewardStream is in a unique position to offer their expertise to brands around the world.”
About RewardStream Solutions Inc.
RewardStream specializes in the execution of automated referral marketing programs that help brands to acquire, engage, and retain their most valuable stakeholders – customers. By utilizing an innovative blend of marketing insight and proprietary technology, RewardStream turns an existing customer base into a powerful new sales channel for all of our clients. RewardStream delivers a scalable, real-time technology platform as the foundation of our client’s referral program. The platform provides customer acquisition programs that deliver new, highly loyal customers at very low cost per acquisition rates. Our award-winning marketing solutions have powered loyalty and referral marketing programs across 39 countries for brands including Boost Mobile, Virgin Mobile, Envision Financial, Koodo Mobile and more. For more information please visit www.rewardstream.com.
- Published in Financial Technology, Mobile Technology, News Home, RewardStream, Technology
MOBI724 (MOS:CSE) Subsidiary Signs Marketing Partnership Agreement With Ackroo
MOBI724 Global Solutions Inc. Subsidiary iQ724 Inc. Signs Marketing Partnership Agreement With Ackroo
– Momentum Public Relations –
Press Release: October 18, 2016
MOBI724 Global Solutions Inc. (“MOBI724” or the “Company”) (CSE:MOS)(CSE:MOS.CN), a Fintech leader offering all in one fully integrated EMV payment, card link couponing and digital marketing is pleased to announce that iQ724 Inc. (“iQ”) a wholly owned subsidiary of MOBI724 has signed a partnership agreement with Ackroo Inc. (TSX VENTURE:AKR)(OTC PINK:AKRFF) (“Ackroo” or the “Company”), a gift card, loyalty and rewards technology and services provider, and marketing services. Through this agreement Ackroo will provide its Ackroo Anywhere solution and iQ724 will provide their customized marketing services modules as a combined solution for merchants across North America. The initiative will support upselling Ackroo’s gift card and loyalty platform to iQ724 clients and upselling iQ724’s customized marketing services modules to Ackroo clients as well as pursing net new opportunities together via each companies channel partnerships.
“The partnership with iQ724 is a great advancement both solution and geographic wise for Ackroo” said Steve Levely, chief executive officer at Ackroo. “From a solution stand point the custom marketing services products that iQ724 provides will deliver a premium option for Ackroo to offer our current and prospective clients helping to attract and grow much larger merchants. Medium to large merchants demand advanced solutions like what iQ724 offers and so while Ackroo will continue to develop our core solution to support the small to medium sized marketplace this partnership will better position the Company to support large to enterprise accounts as well. The Ackroo base platform also provides a great advancement for iQ724 clients primarily around our gift card, mobile and e-com offerings, our additional point of sale options, plus our self-serve components. So a technical advancement for both organizations. Geographically iQ724 has a very strong presence in Quebec and is beginning to gain traction in the United States. Both are markets that Ackroo is looking to expand further into making the partnership even more valuable. “
“Ackroo will provide a much desired expansion of our digital marketing,enterprise level loyalty solutions outside of Quebec while at the same time offering iQ724 a gift card, mobile and e-com offerings and self- serve options to us in Quebec …our geographical and technological strengths complement each other perfectly” said Daniel Tardif, President of iQ724.
About Ackroo
Ackroo provides gift card and loyalty processing solutions to help small to medium sized businesses attract, retain and grow their customers and their revenues. Through a SaaS based business model Ackroo provides an in-store and online automated solution to help merchants process gift card & loyalty transactions at the point of sale, provide key administrative and marketing data, and to allow customers to access and manage their gift card and loyalty accounts. Ackroo also provides important marketing services to assist their merchants with utilizing Ackroo’s technology solution. Ackroo is headquartered in Ottawa, Canada. For more information, visit: www.ackroo.com.
About iQ724
iQ724 is based in Montreal and was founded in 2007. iQ724 provides a customer retention/loyalty marketing platform to medium and large merchants iQ724 also provides professional services, digital marketing, data analytics and business intelligence solutions as part of their offering .For more information, visit: www.iq724.com
About Mobi724 Global Solutions
MOBI724 Global Solutions Inc. (CSE:MOS)(CSE:MOS.CN), a leader in the Fintech industry based in Montreal (Canada), offers a unique and fully integrated suite of Payment & Digital Marketing solutions.
We are innovating in our market with a combined EMV Payment, Card Linked Offers, and Digital Marketing platform that works on any card and any mobile device. We pioneered in adding intelligence to all types of transactions benefiting banks, retailers and cardholders. We succeed in leveraging all available user and purchasing data to increase transaction volumes and spend.
MOBI724 provides a turnkey solution to its clients to capture card transactions on any mobile device, at any point of sale or from any payment card. Our easy-to-adapt gateway Switch is designed for easy integration with all payment protocols in our target markets.
Within the same solution suite we combined our Card Linked Offers solution, and provided financial institutions´ payment card portfolios and retailers the ability to add offers and/or coupons which can be redeemed directly at the Point of Sale, in a seamless user experience for all the parties in the eco-system.
MOBI724 Global Solutions unleashes the true potential of both payment and card-linked couponing/rewards transactions for both online and offline points of sale (POS).
The Corporation provides its customers with full and comprehensive traceability and enriched consumer data through its offering. Its solutions enables card associations, retailers, manufacturers, offer providers, mobile operators and card issuers to create, manage, deliver and “track and measure” incentive campaigns worldwide to ANY mobile device and allow its redemption at ANY point of sales.
Our credit and debit EMV payment solutions will allow banks to process end to end EMV transactions, focusing on authentication, approved security and quick merchant adoption which allows the users to process payments with a wide range of devices over a secure and seamless transaction.
MOBI724’s PCI and EMV cloud-based switch, with their device agnostic connectivity, simplifies deployment and integration, and introduces new payment and digital incentives solutions to the market enabling multi layered intelligent transactions therefore SMART TRANSACTIONS.
- Published in Financial Technology, Mobi724 Global Solutions, Mobile Technology, News Home
Namaste (N:CSE) Closes Acquisition of URT1
Namaste (N:CSE) Closes Acquisition of URT1
– Momentum Public Relations –
Press Release: October 18, 2016
Namaste Technologies Inc. (“Namaste” or the “Company”) (CSE:N)(FRANKFURT:M5BQ) is pleased to announce that the Company has closed its acquisition of certain assets of URT1 Limited and it’s wholly owned US subsidiaries (collectively referred to as “URT1”). With completion of this acquisition, Namaste is now the world’s largest e-commerce company focused on sale of vaporizers and accessories. The acquisition of URT1 significantly increases Namaste’s revenue and gross profit on a proforma basis and re-affirms the Company’s role as the industry’s principal consolidator.
URT1 is one of the top 5 domains in the world for the sale of vaporizers, pipes and accessories. The company operates two websites, www.everyonedoesit.com and www.everyonedoesit.co.uk, and retails through select third-party marketplaces. Unaudited 12 month trailing revenues were approximately C$3.2 million for the period ended August 31, 2016 with a gross profit margin of 53{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}. URT1 has been in business since 2000.
Terms of the Transaction
Pursuant to the terms of the Definitive Asset Purchase Agreement announced on September 15, 2016, Namaste has acquired all the website domains, the customer list of over 40,000 individuals, the EDIT Collection of smoking accessories, direct relationships with over 190 vendors, intellectual property and related technologies. The purchase price was calculated as one-times the 12-month trailing gross revenue of URT1, subject to adjustments for inventory, wind down costs, and assumed liabilities. The assumed liabilities include a secured note of approximately C$500,000 for 4 years at an interest rate of 4{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} payable in equal annual installments. Upon closing of the transaction, the Company has provided an initial 80{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the purchase price to URT1 of the estimated cash wind down costs and 13,771,933 common shares. The Company will make an adjustment to the purchase price in 45 days, subject to the actual wind down costs realized by URT1. Any additional consideration to URT1 will either be provided in cash or common shares of the Company at a 25{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} discount to the 10 day volume weighted average trading price of the common shares of the Company on the Canadian Securities Exchange.
Liberty North Capital Corp. acted as an advisor to URT1 in connection with the transaction.
Management and Board Appointments
Philip van den Berg has been appointed as Chief Financial Officer, Corporate Secretary and Director and Kiran Sidhu has been appointed as an Independent Director, subject to the approval of the Canadian Securities Exchange.
Philip van den Berg graduated cum laude in economics in 1985 at the University of Amsterdam. After graduating, Mr. van den Berg joined Pierson, Heldring & Pierson in the Netherlands as investment analyst. Most of his experience on the sell side was with Goldman Sachs in London where he joined when its European equities division was established in 1987. In 1995 Philip went to Deutsche Morgan Grenfell to participate in re-establishing its European equities division. During his career on the sell-side, he held various positions within research departments as investment analyst, supervisory analyst, member of the investment policy committee and head of research. In 1997 Philip moved to the buy-side as co-founder of Olympus Capital Management, one of the first European hedge funds (long short equity). In 2006 Philip co-founded Taler Asset Management, a wealth management company based in Gibraltar. Currently Philip is a non-executive director at Taler. Since 2014 Philip has been an active investor in various start-up companies in Europe and the US where he has held positions as director and CFO, including Golden Leaf Holding and URT1. He has implemented corporate governance and administrative systems, has been involved in a number of capital market transactions, oversaw a public listing and has been involved in mergers and acquisitions.
Kiran Sidhu graduated with and A.B. honors in computer science in 1985 from Brown University and an MBA in Finance from the Wharton School of Business in 1987. Mr. Sidhu was a manager with Price Waterhouse’s strategic consulting group in Los Angeles and a senior associate with Merrill Lynch Capital Markets in mergers and acquisitions in New York. Mr. Sidhu served as CFO of On Stage Entertainment and oversaw its initial public offering on NASDAQ. On Stage was subsequently sold to McCown De Leeuw & Co. Mr. Sidhu was a founder and the finance director of Nano Universe PLC where he oversaw its listing on the LSE-AIM. In 2003 he built Aspen Communication located in New Delhi, India into an outsourcing company skilled in e-commerce fraud detection, accounting, customer and systems support and data analytics to large customers included Party Gaming.
Sidney Himmel has resigned as Chairman of the Company and will remain with the Company as an advisor on accounting and corporate finance related activities. Darren Collins will remain with the Company as Executive Vice President, Corporate Development.
Management Commentary
Sean Dollinger, President and CEO of Namaste, comments: “The acquisition of URT1 represents our second major acquisition since taking the Company public in March of this year and positions Namaste as the largest e-commerce company focused on the sale of vaporizers and accessories globally. In combination with our recently completed capital raise, Namaste is poised for significant organic growth and will continue to seek strategic acquisition opportunities. I would like to thank all those individuals involved in bringing this transaction together. I would also like to personally thank Sidney and Darren for their contribution to the company and look forward to continuing to work with them both in their new roles.”
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.
On behalf of the Board of Directors
Sean Dollinger, Chief Executive Officer
Further information on the Company and its products can be accessed through the links below:
- Published in Namaste Technologies, News Home
IWS in Scotland: A Billion Dollar Opportunity
IWS in Scotland: A Billion Dollar Opportunity
Published by RockStone Research October 17, 2016
View Original: Here
Last Friday, International Wastewater Systems Inc. (“IWS”) has announced a strategic alliance with Scottish Water Horizons Ltd., the commercial subsidiary of Scottish Water, a public water utility owned 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} by the Scottish Government.
Also on Friday, Scotland’s national newspaper The Herald called IWS “a Canadian renewables giant”. From a strict market capitalization perspective (currently at $44 million CAD), IWS is not really a “giant” (yet), but let´s take a look at the market potential as Scottish Water Horizons has estimated that up to 750 SHARC systems are needed to be installed to enable Scotland to achieve its carbon savings targets by 2020.
One SHARC system has already been installed successfully at the Borders College in Scotland, at costs estimated at $1.7 million CAD. If 750 such systems are to be installed in Scotland within the next 4 years, the market potential for IWS translates into a massive $1.3 billion CAD opportunity. This figure excludes any potential revenue sharing and cash distributions between IWS and Scottish Water from the heat and energy sales agreements that can be generated from such projects, which typically run for >20 years. The Borders College project has a revenue sharing agreement in place whereby IWS earns its share of revenue from heat sales to Borders College over the life of the project.
The IWS press-release disclosed that Scottish Water Horizons and IWS have collaborated for over 2 years, resulting in an identified pipeline of projects valued at £20 million GBP ($32.4 million CAD). From this it’s clear that Scottish Water Horizons and IWS are already executing against their ambitious goal of 750 SHARC systems; this is not simply a ‘blue sky’ target.
IWS may be a growth stage company but it’s already executing a >$1 billion dollar mandate with a world-class, national water utility in Scottish Water. And Scotland is only one, relatively small market (population of 5.3 million) when considering the global potential for the IWS technology.
In August 2016, IWS announced a $80 million CAD joint venture with RENEW Energy Partners LLC, a US-based clean energy developer and funding company committed to finance capital expenditures for 1,000 PIRANHA systems from IWS to be installed in California. Therefore, a single PIRANHA system installation averages about $80,000 CAD.
PIRANHA is a small, self-contained water heating system with a capacity of up to 100 kW, designed to be an easy to install “plug and play” system for commercial and 50-200 unit residential applications.
SHARC is a large, custom-designed water heating and space conditioning system with a capacity of 440-880 kW (source), which can be scaled to serve large district heating networks by adding multiple SHARCs. SHARC installations are individually designed and engineered for industrial, commercial and >200 unit residential applications. Thus, the price for a single SHARC system is much higher than a PIRANHA (also due to customized engineering on site), whereas the PIRANHA module can be shipped in a container to be installed easily on site with less engineering.
Federal and state grants totalling $1.3 million USD (1.7 million CAD) were made available to install a single SHARC system at the Camden Municipal Wastewater Treatment Plant in New Jersey, USA (source):
Susan Rice, Chair of Scottish Water, gave the following statement in the company´s Annual Report and Accounts 2015/2016:
“In 2015/16, we also commenced a 6 year, £3.5 billion investment programme which will see further improvements to water and waste water infrastructure around Scotland, improving drinking water quality, enhancing the environment and supporting jobs in the Scottish economy.”
Rockstone is looking forward to the release of further information from IWS and its alliance with Scottish Water Horizons, as they continue to execute on a billion dollar opportunity in Scotland over the next few years, which indeed would make IWS “a renewables giant” in due course.
Disclaimer: IWS has not reviewed this content prior to publication and may not agree to the statements made herein. Please read the full disclaimer here.
- Published in Blog, Green Technology, International Wastewater Systems
Namaste (N:CSE) Closes Private Placement
Namaste Closes Private Placement
– Momentum Public Relations –
Press Release: October 17, 2016
Namaste Technologies Inc. (“Namaste” or the “Company”) (CSE:N)(FRANKFURT:M5BQ) is pleased to announce the closing of its non-brokered private placement for gross proceeds of $3,000,000. In addition, the Company is pleased to announce the bridge note to the private placement has been converted to equity increasing the cash proceeds available to the Company.
Further to the Company’s press releases on October 5, 2016 and October 12, 2016, the Company has completed its non-brokered private placement of 25,000,000 units (the “Units”) of the Company for gross proceeds of $3,000,000 (the “Offering”). The Offering was completed at a price of $0.12 per Unit. Each Unit consists of one common share of the Company (a “Common Share”) and one-half of one common share purchase warrant (a “Warrant”), with each full Warrant being exercisable for one Common Share at an exercise price of $0.20 per Common Share for a period of 24 months from the date of closing.
The proceeds from the offering will be utilized to fund cash closing costs associated with the wind down and integration of the URT1 acquisition, increases in stock needed to support the expected sales increase as a result of the URT1 acquisition and general working capital. The acquisition of URT1 is anticipated to close in the coming days. The Company will also pay finders’ fees of 7{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} cash and 7{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} broker’s warrants to select eligible parties.
Further to the Company’s press release dated September 7, 2016, the Company has received election from its arm’s length bridge note lender (the “Lender”) to convert the total $400,000 principal amount into common shares of the Company at a price of $0.15 per common share in lieu of repayment. As a result, the Company will issue the Lender a total of 2,666,666 common shares and have increased cash proceeds available to the Company.
Sean Dollinger, President and CEO of Namaste, comments: “I am proud to say we now move forward fully capitalized to execute our acquisition of URT1 and business plan. I would like to thank investors for their overwhelming support for our placement.”
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 Namaste Technologies, News Home