Crystal Lake Announces Signing of Arrangement Agreement to Create Sassy Spinout
Momentum Public Relations
Press Release: June 25, 2019
Crystal Lake Mining Corporation (TSXV: CLM) (OTC PINK: SIOCF) (FSE: SOG-FF) (the “Company” or “Crystal Lake“) is pleased to announce that it has entered into an arrangement agreement dated June 25, 2019, with wholly-owned subsidiary Sassy Resources Corporation (“Sassy Resources” or “Sassy“).
Crystal Lake will transfer to Sassy its Northwest Ontario nickel asset (Nicobat Project), and its Letter of Intent dated June 24, 2019, to acquire the Foremore claims in Northwest B.C.’s Golden Triangle, by way of a plan of arrangement pursuant to the Business Corporations Act of British Columbia. Sassy Resources will become a reporting issuer in the provinces of British Columbia and Alberta upon completion of the arrangement.
Highlights:
- Pursuant to the arrangement, shareholders of Crystal Lake on the Share Distribution Record Date (to be determined) will receive a total of 10 million common shares of Sassy Resources;
- The spinout will keep Crystal Lake strategically focused on its Newmont Lake Project in the prolific Eskay Camp while CLM shareholders as of the record date will get ownership in an attractive new entity aimed at unlocking the value of the Nicobat Project and the Foremore claims;
- Following Crystal Lake shareholder approval and regulatory approvals of the arrangement, Sassy Resources will apply for listing on the TSX Venture Exchange.
Richard Savage, President and CEO of Crystal Lake, commented: “Sassy will have a team and a brand that will excite investors and advance its projects in an efficient and bold way. We look forward to announcing the Sassy CEO in the very near future. Sassy also intends to complete a financing on its own before the completion of the arrangement for general working capital purposes including certain exploration initiatives.”
Nicobat and Foremore
The Nocobat Project consists of the “Emerald Lake” assets, specifically the Iron Property, Farm Property, EL1 and EL5 Properties, and Properties #1, 2, 3, 4, 5, 7 and 8 and Property 6, located in Dobie, Kingsford, Mather, Potts and Tait townships, in the Dogpaw Lake and Heronry Lake areas of Emo, Ontario.
The Letter of Intent with Lorne Warren dated June 24, 2019, includes the Foremore claims covering 145.3 sq. km adjacent to the northern boundary of Crystal Lake’s Newmont Lake Project.
Required Approvals
The arrangement is subject to the approval of the Supreme Court of British Columbia, the approval by the Crystal Lake shareholders at an annual general and special meeting to be held on September 25, 2019 (the “Meeting“), and the approval by TSX Venture Exchange.
Details of the arrangement will be provided in a management information circular that will be mailed to all Crystal Lake shareholders prior to the September 25 Meeting. At the Meeting, shareholders will be asked to vote on a special resolution approving the arrangement, among other resolutions.
The arrangement will be posted on SEDAR under the profile of the Company.
Share Distribution Record Date
The Share Distribution Record Date will be determined by the board of directors of Crystal Lake and will be announced by way of a news release following required approvals. No outstanding warrants or options of Crystal Lake will be exchanged for the warrants or options of Sassy Resources.
About Crystal Lake Mining
Crystal Lake Mining is a Canadian-based junior exploration company focused on building shareholder value through high-grade discovery opportunities in British Columbia and Ontario. The Company has an option to earn a 100% interest in the large Newmont Lake Project in the broader Eskay region in the heart of Northwest B.C.’s Golden Triangle.
On Behalf of the Board of Directors,
CRYSTAL LAKE MINING CORP.
“Richard Savage”
President & CEO
Email: info@crystallakemining.com
www.crystallakemining.com
For further information please contact:
Momentum PR
Mark Turcotte
Tel: +1 (514) 815-7473
Email: mark@momentumpr.com
- Published in Crystal Lake Mining, Mining, News Home
Tetra Bio-Pharma Inc. Announces Pricing of Unit Offering
Momentum Public Relations
Press Release: June 24, 2019
Tetra Bio-Pharma Inc. (“Tetra” or the “Corporation“), a biopharmaceutical multifaceted corporation with its primary focus in cannabinoid‑based drug discovery and development (TSX-V: TBP) (OTCQB: TBPMF), is pleased to announce the price of its marketed public offering of units of the Corporation (each a “Unit“) previously announced on June 19, 2019(the “Offering“). The Offering will be conducted at a price of $0.30 per Unit.
Each Unit will consist of one common share in the capital of the Corporation (each a “Common Share“) and one Common Share purchase warrant of the Corporation (each a “Warrant“). Each Warrant will entitle its holder to acquire one Common Share by paying an exercise price of $0.40 for a period of 36 months from the date of closing the Offering.
Echelon Wealth Partners Inc. and Paradigm Capital Inc. will conduct the Offering on a commercially reasonable best efforts basis as the Corporation’s agents for the Offering in each of the provinces of Canada, except Québec. The Units may also be offered for sale in the United States on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) and applicable state laws.
Closing of the Offering is expected to occur on or about July 10, 2019. The Offering is subject to a number of conditions, including, without limitation, the entering into of a definitive agency agreement and receipt of all regulatory approvals, including the approval of the TSX Venture Exchange. There can be no assurance as to whether or when the Offering may be completed, or as to the actual size or terms of the Offering.
A copy of the preliminary prospectus (the “Preliminary Prospectus“), which was filed in each of the provinces of Canada, except Québec, contains important information relating to the Offering and the Units, and is available on SEDAR at www.sedar.com or by contacting Echelon Wealth Partners Inc. at ecm@echelonpartners.com. The Preliminary Prospectus is still subject to completion or amendment. There will not be any sale or any acceptance of an offer to buy the Units until a receipt for the final short form prospectus has been issued.
The securities described herein have not been, and will not be, registered under the U.S. Securities Act or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the Corporation’s securities to, or for the account or benefit of, persons in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Tetra Bio-Pharma:
Tetra Bio-Pharma (TSX-V: TBP) (OTCQB: TBPMF) is a biopharmaceutical multifaceted corporation with its primary focus in cannabinoid-based drug discovery and development with a clinical trial program aimed at bringing novel drugs and treatments to patients and their healthcare providers. Tetra Bio-Pharma’s subsidiary, Tetra Natural Health, also focuses on the development and commercialization of natural health and self-care products as well as the sale of its hemp energy drinks.
For more information visit: www.tetrabiopharma.com and www.tetranaturalhealth.com
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
Crystal Lake Mining Signs Binding LOI to Acquire the Foremore Claims Located to the North of its Newmont Lake Project in Northwest B.C.’s Eskay District
Momentum Public Relations
Press Release: June 24, 2019
Crystal Lake Mining Corporation (TSXV: CLM) (OTC Pink: SIOCF) (FSE: SOG-FF) (the “Company” or “Crystal Lake“) is pleased to announce that it has signed a binding Letter of Intent (“LOI”) to acquire a 100% interest in the Foremore claims located to the northern boundary of the Company’s 551 sq. km Newmont Lake Project in Northwest B.C.’s Eskay Camp.
Figure 1: Crystal Lake Acquires the Foremore claims which are situated directly north of its Newmont Lake Property in the Eskay Creek District of the Golden Triangle, British Columbia
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/6406/45857_d81e48e8c4d21ba3_003full.jpg
The Foremore claims comprise 143 sq. km (14,300 hectares) and host an abundance of known precious and base metal-rich mineralization including boulder fields and outcrops. Multiple geochemical and geophysical anomalies also exist over a broad area. Drilling last occurred at Foremore in 2008. Since then, snowfields have literally disappeared, opening fresh ground for exploration. The claims are considered highly prospective for new high-grade mineral discoveries.
Richard Savage, Crystal Lake President and CEO, commented: “Acquiring the Foremore claims is a strategic move on the part of the Company in the broader context of district developments. Crystal Lake’s focus this summer is squarely on the high-grade gold potential and copper-gold porphyry potential of the four key zones already identified at the Newmont Lake Project (Northwest Gold zone, Chachi Corridor, Burgundy Ridge and KGO) with crews rapidly progressing to the drilling stage.”
The Deal
Pursuant to the LOI with Lorne Warren (the “Optionor”), the Company has been granted the exclusive right to earn a 100% undivided interest in the Foremore claims (the “Option“). The Company may exercise this right, at its sole discretion, by completing the following:
(a) Within 3 business days following the execution of this LOI, delivering to the Optionor the sum of $10,000 (the “Deposit“). In the event that the acquisition does not close, the deposit shall be immediately returned to the Company.
Making total cash payments of $300,000 over 4 years to the Optionor as follows:
- $50,000 on or before the date that is 3 business days after the date upon which both parties have received approval from the TSX Venture Exchange of this LOI (the “Effective Date“);
- $50,000 on or before the first anniversary of the Effective Date;
- $66,667 on or before the second anniversary of the Effective Date;
- $66,667 on or before the third anniversary of the Effective Date; and
- $66,667 on or before the fourth anniversary of the Effective Date.
(b) Issuing an aggregate of 1,250,000 common shares in the capital of the Company (the “Shares“) to the Optionor over 4 years as follows:
- 250,000 Shares on the Effective Date;
- 250,000 Shares on the first anniversary of the Effective Date;
- 250,000 Shares on the second anniversary of the Effective Date;
- 250,000 Shares on or before the third anniversary of the Effective Date; and
- 250,000 Shares on or before the fourth anniversary of the Effective Date
(c) Incurring exploration expenditures of $1,200,000 (CDN) on the claims over 5 years as follows:
- $150,000 on or before the first anniversary of the Effective Date;
- $150,000 on or before the second anniversary of the Effective Date;
- $300,000 on or before the third anniversary of the Effective Date;
- $300,000 on or before the fourth anniversary of the Effective Date;
- $300,000 on or before the fifth anniversary of the Effective Date.
As of the date of this news release, the Company has made payments to the Optionor in the amount of $60,000.
Upon exercise of the Option, the Optionor will be entitled to a royalty of 3% of net smelter returns. The Company has the right to purchase back the royalty of 2% for $2,000,000 and an additional royalty of 0.5% for $1,000,000.
Investor Relations Agreement
Crystal Lake is also pleased to announce that it has retained the services of Momentum Public Relations Inc. (“Momentum PR”), a Montreal-based investor and media relations agency that provides market awareness through its network of institutional investors, analysts and retail relationships within the North American investment community.
In connection with the engagement, which is subject to TSXV approval, Momentum has been awarded an investor relations contract for an initial term of 12 months expiring April 1, 2020. Pursuant to the terms of the contract, Momentum has been paid a one-time fee of $90,000 CDN + applicable taxes and was granted 500,000 incentive stock options of the Company (separate from the stock options granted below).
Stock Options
Pursuant to its stock option plan, Crystal Lake has granted incentive stock options to its directors, officers, employees and consultants to purchase an aggregate of 760,000 shares at an exercise price of $0.35 cents per share for up to five years.
Qualified Person
The technical information in this news release has been reviewed and approved by Mr. Maurizio Napoli, P. Geo., VP Exploration for Crystal Lake Mining, a Qualified Person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.
About Crystal Lake Mining
Crystal Lake Mining is a Canadian-based junior exploration company focused on building shareholder value through high-grade discovery opportunities in British Columbia and Ontario. The Company has an option to earn a 100% interest in the large Newmont Lake Project in the broader Eskay region in the heart of Northwest B.C.’s Golden Triangle.
On Behalf of the Board of Directors,
CRYSTAL LAKE MINING CORP.
“Richard Savage”
President & CEO
Email: info@crystallakemining.com
For further information please contact:
Momentum Public Relations
Mark Turcotte
Tel: +1 (514) 815-7473
Email: mark@momentumpr.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45857
- Published in Crystal Lake Mining, Mining, News Home
CROP Secures Provisional Licence for a California Retail, Smoking Lounge, and State-Wide Delivery Service in Cathedral City.
Momentum Public Relations
Press Release: June 21, 2019
CROP INFRASTRUCTURE CORP. (CSE: CROP) (OTC: CRXPF) (Frankfurt: 2FR) announced today that its Emerald Heights retail brand has secured a provisional licence for a retail, delivery, and smoking lounge in Cathedral City, California, to vertically integrate its California brands.
CROP has also retained a local real estate broker to find suitable locations to set up its Emerald Heights flagship location. A $30,000 USD deposit has been placed and the balance of $220,000 USD will be paid on final transfer of ownership of the license. CROP’s subsidiary will be able to run delivery routes in the Bay Area, Coachella Valley, and is currently seeking a Southern California distribution partner.
CROP’s California extraction partner has run the first batch of material for extraction from the 2018 harvest into THC distillate oil, this first run will be used to fill 30,000 vape cartridges and combined with inventoried flower prepare 200,000 Moonrock Cones. Additional inventoried organic flower will produce ~100,000 pre rolled joints. These products are intended to be sold in the first Emerald Heights store and have a total wholesale value of $2,860,000 USD if sold through the company’s distribution company and partners and if sold at the Emerald Heights location a total retail value of over $6,000,000 USD.
CROP CEO, Michael Yorke, stated: “Emerald Heights’ entry into retail markets in California will be highly beneficial for CROP. We and our partners are working diligently to achieve as much value through the supply chain as possible for stakeholders.”
About Emerald Heights
Emerald Heights brand is focused on the so-called Emerald Triangle cannabis growing area and is a true California brand offering a heightened retail experience for adult customers of all ages. Emerald Heights aims to provide only the highest quality, state-compliant, organically sourced products in a safe and professional environment. Emerald Heights pays particular care to customer relations with its knowledgeable staff.
About CROP
CROP is publicly listed company trading under symbol CROP.CSE. The company is focused on cannabis branding and real estate assets. CROP’s portfolio of projects includes cultivation properties in California, two in Washington State, a 1,000-acre Nevada cannabis farm, 2,115 acres of Hemp CBD farms, and a growing portfolio of common share equity in upcoming listings within the cannabis space.
CROP has developed a portfolio of assets including Canna Drink, a cannabis infused functional beverage line and 16 Cannabis brands.
Company Contact
Michael Yorke – CEO and Director
E-mail: info@cropcorp.com
Website: www.cropcorp.com
Phone: (604) 484-4206
- Published in Cannabis, CBD, CROP Infrastructure, Marijuana, News Home
Sirona Biochem Reports 2019 AGM Voting and CEO Update
Momentum Public Relations
Press Release: June 20, 2019
Sirona Biochem Corp. (TSX-V: SBM) (FSE: ZSB) (OTC: SRBCF) (“Sirona“) is pleased to announce the voting results from its Annual General Meeting of Shareholders (the “Meeting”), held in Vancouver, British Columbia on June 20, 2019. The total number of shares represented by shareholders present in person and by proxy at the meeting was 32,141,666 million representing 15.47% of Sirona’s issued and outstanding Common Shares.
All of the matters put forward before shareholders for consideration and approval as set out in the Company’s Management Information Circular dated 22nd of May, 2019, were approved by the requisite majority of votes cast at the Meeting. The details of the voting results for the election of directors are set out below:
Nominee |
# Votes for |
% Votes for |
Géraldine Deliencourt-Godefroy |
31,845,566 |
99.1 |
Howard Verrico |
31,595,566 |
98.3 |
Christopher Hopton |
31,595,566 |
98.3 |
Alex Marazzi |
31,595,566 |
98.3 |
Jason Tian |
Appointed director |
The shareholders also approved: (i) fixing of the number of directors of the Company at five; (ii) appointing MNP LLP, Chartered Accountants, as the Company’s auditor for the ensuing year and authorizing the directors to set the auditor’s remuneration; and (iii) confirming and approving the Company’s existing stock option plan.
The Company will file a report of voting results on all resolutions voted on at the Meeting on www.sedar.com shortly.
CEO AGM Update
Dear Shareholders,
I’d like to take this opportunity to thank you for the continued support of Sirona. It is of great satisfaction to have over 98% of votes cast to support the current management team. This has been an exciting breakthrough year and we are grateful that you have remained on board with us, sharing our successes of Sirona’s novel platform technology.
Rodan + Fields have completed extensive due diligence on TFC-1067. This included both the data package provided by Sirona as well as their independent research and analysis on the compound. Rodan + Fields, the No. 1 skincare brand in North America in terms of total sales, are now moving our novel skin lightener towards full commercialization. The anticipated definitive agreement with Rodan + Fields has enormous value to Sirona, far beyond North America.
It is particularly important for our European shareholders to understand that Rodan + Fields utilizes approximately 300,000 consultants to sell products. Their skincare starter kits are aimed at reducing the appearance of lines, dark spots, and acne in adult women. Rodan + Fields are a perfect fit for Sirona and vice versa. We are confident Rodan + Fields will deliver industry leading products incorporating Sirona’s skin lightener TFC-1067.
After the heavy lifting is done and while we work together with Rodan + Fields through the stages of commercialization, further partners for other sales channels and regions will beat a path to our door. The discussions with our potential TFC-1067 partner for China are also nearing completion.
We anticipate more exciting news from China as Wanbang’s management meets to approve the release of information. We are also in advanced discussions on a large new project with a global corporation that we hope to share with you in Q4/2019.
The current market capitalization for Sirona Biochem has increased substantially thanks to positive company developments as well as growing shareholder support. Sirona’s management has now decided to establish a shareholder rights plan (“Poison Pill”) and has asked our legal counsel to take the necessary steps to put this in place.
The adoption of the Poison Pill is intended to protect Sirona Biochem and its shareholders from the actions of third parties that the Board of Directors determines are not in the best interests of Sirona Biochem and its shareholders, and to enable all shareholders to realize the long-term value of their investment in Sirona Biochem.
The Board of Directors believes that the Poison Pill will ensure that the Board of Directors remains in the best position to discharge its fiduciary duties to Sirona Biochem and its shareholders. The Poison Pill is not intended to interfere with any sale, merger, tender or exchange offer, or other business combination approved by the Board of Directors. Nor does the Poison Pill prevent the Sirona Biochem Board of Directors from considering any offer that it deems to be in the best interest of Sirona Biochem’s shareholders.
We have exciting times ahead of us.
Sincerely,
Dr. Howard Verrico, CEO
About Sirona Biochem Corp.
Sirona Biochem is a cosmetic ingredient and drug discovery company with a proprietary platform technology. Sirona specializes in stabilizing carbohydrate molecules with the goal of improving efficacy and safety. New compounds are patented for maximum revenue potential.
Sirona’s compounds are licensed to leading companies around the world in return for licensing fees, milestone fees and ongoing royalty payments. Sirona’s laboratory, TFChem, is located in France and is the recipient of multiple French national scientific awards and European Union and French government grants. For more information, please visit www.sironabiochem.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Sirona Biochem cautions you that statements included in this press release that are not a description of historical facts may be forward-looking statements. Forward-looking statements are only predictions based upon current expectations and involve known and unknown risks and uncertainties. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of release of the relevant information, unless explicitly stated otherwise. Actual results, performance or achievement could differ materially from those expressed in, or implied by, Sirona Biochem’s forward-looking statements due to the risks and uncertainties inherent in Sirona Biochem’s business including, without limitation, statements about: the progress and timing of its clinical trials; difficulties or delays in development, testing, obtaining regulatory approval, producing and marketing its products; unexpected adverse side effects or inadequate therapeutic efficacy of its products that could delay or prevent product development or commercialization; the scope and validity of patent protection for its products; competition from other pharmaceutical or biotechnology companies; and its ability to obtain additional financing to support its operations. Sirona Biochem does not assume any obligation to update any forward-looking statements except as required by law.
SOURCE Sirona Biochem Corp.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2019/20/c1114.html
Contact:
For more information regarding this press release, please contact: Investor Enquiries: Jonathan Williams, Managing Director, Momentum PR, Phone: 1.450.332.6939, Email: jwilliams@momentumpr.com
- Published in Life Sciences, News Home, Sirona Biochem
Sirona Biochem Billion Dollar Skin Lightening Opportunity With TFC-1067 Compound
Sirona Biochem is the center of attention on signing a landmark licensing deal for its proprietary skin-lightening compound with a company topping billions of dollars in sales. The signing of the deal comes at a time of growing demand for skin lightening products with the market poised to reach $20 billion by 2022.
Sirona | Rodan + Field Deal
The cosmetic ingredient and drug discovery company remain well positioned to generate significant value on the burgeoning skin lightening market. Backed by a proprietary platform technology that has already given rise to TFC-1067, the company is already eliciting strong interest from some of the biggest skin care brands.
The signing of a term sheet with Rodan + Fields LLC for proprietary TFC-1067 compound might as well have opened the door for the company to generate significant value going forward. Under the terms of the agreement, Sirona Biochem is to manufacture and supply TFC-1067 for use by Rodan + Fields in its products.
The company stands to generate significant revenues on the sale of the skin-lightening compound. In addition, it is entitled to a fee by Rodan + Fields on the signing of the definitive agreement. The company will also earn milestone fees on each product that Rodan + Fields sales, utilizing the skin-lightening agent TFC-1067. The two have also agreed to establish regular formal meetings to explore future opportunities.
A partnership with Rodan + Fields marks an important milestone as Sirona Biochem seeks to generate significant value from its proprietary skin lighting compound. Skincare brand Rodan + Fields has generated more than $1 billion in sales since 2016, seen as an ideal partner for Sirona after years of TFC-1067 R&D investments.
The compound stands out in part because it is superior to current actives in the market in addition to being safe and free of hydroquinone. TFC-1067 has also proved to be superior in the treatment of dyschromia with no adverse effects.
The use of TFC-1067 in Rodan + Fields products opens the door for Sirona Biochem to recoup a substantial amount of money spent on the development of the skin lighting agent.
“After many years of developing TFC-1067 with the support of the French government and European Union in the Cosmetic Valley, France, we are excited to partner with skincare industry leader Rodan + Fields. This marks an important milestone for Sirona Biochem,” explained Dr. Howard Verrico CEO of Sirona Biochem.
Skin Lightening Opportunity
Sirona Biochem is on the cusp of something great in the skin care market. The company has already secured a U.S patent for the flagship skin-lightening agent TFC-1067 further strengthening its IP portfolio. The new patent adds to similar patents granted in Germany, France, and the United Kingdom.
With the patent, the company can now pursue licensing deals similar to the one signed with Rodan + Fields. Such deals should go a long way in helping the company strengthen its revenue streams through licensing fees as well as milestone fees and royalty payments.
Sirona Biochem is currently in advanced negotiations in North America and Asia as it eyes licensing deals for the skin-lightening compound. Given the potential impact of TFC-1067 in the multi-billion dollar skin lightening market, the company could be a potential acquisition target for big companies wishing to own TFC-1067 outright.
- Published in Bio technology, Dermatology, Sirona Biochem, Skin Care
North Bud Capital Acquires Shares and Warrants of North Bud Farms Inc.
Momentum Public Relations
Press Release: June 20, 2019
This news release is issued by North Bud Capital Holdings Ltd. (“North Bud Capital”) pursuant to the early warning requirements of National Instrument 62-104 and National Instrument 62-103 with respect to the acquisition by North Bud Capital of units of North Bud Farms Inc. (the “Issuer”).
On June 19, 2019, in connection with the closing of a non-brokered private placement of the Issuer, North Bud Capital purchased 3,333,333 units in the share capital of the Reporting Issuer, at a price of $0.30 per unit, for gross proceeds to the Issuer of $1,000,000 (the “Private Placement Transaction”). Each unit consists of one common share and one common share purchase warrant, with each warrant entitling the holder thereof to purchase one additional common share in the share capital of the Issuer, at an exercise price of $0.40, and expiring on June 19, 2021.
Prior to the Private Placement Transaction, North Bud Capital owned and controlled 7,084,500 common shares in the share capital of the Issuer, representing 12.75% of the issued and outstanding common shares of the Issuer.
As a result of the closing of Private Placement Transaction, North Bud Capital holds a total of 10,417,833 common shares of the Issuer, representing 17.49% of the issued and outstanding common shares of the Issuer, and assuming the exercise of the 3,333,333 warrants comprised in the units, will hold a total of 13,751,166 common shares, representing a total of 21.86% of the issued and outstanding common shares of the Issuer on a partially diluted basis.
Depending on economic or market conditions, or matters relating to the Issuer, North Bud Capital may in the future choose to either acquire additional securities of the Issuer or dispose of securities of the Issuer.
For further information, and to obtain a copy of the early warning report filed under applicable securities legislation in connection with the transactions described herein, please go to the Issuer’s profile on the SEDAR website at www.sedar.com, or contact Mr. Ryan Brown, CEO of North Bud Capital at 855-359-2475.
North Bud Capital Holdings Ltd.
38 Ch. Scott
Chelsea, Quebec
J9B 1R5
Crystal Lake Mining Becomes Largest Landholder Among Juniors in Broader Eskay Camp
Momentum Public Relations
Press Release: June 20, 2019
Crystal Lake Mining Corporation (TSXV: CLM) (OTC PINK: SIOCF) (FSE: SOG-FF) (“Crystal Lake” or the “Company“) is pleased to announce that it has expanded the size of its Newmont Lake Project by approximately 25% to 551 sq. km (55,100 hectares), making Crystal Lake the largest landholder among junior companies in Northwest British Columbia’s broader Eskay Camp as the 2019 exploration season ramps up.
Highlights:
- The newly-defined Chachi Corridor (see June 12, 2019 news release) has been expanded by the staking of “Chachi East”, 17.5 sq. km of prospective ground straddling the northeast boundary of the Newmont Lake Project;
- On the western side of the project, Crystal Lake has also staked the 74 sq. km “Ridge West” block which represents the possible southwesterly extension of the Burgundy Ridge discovery (see March 7, 2019, news release). A large new gossan zone is exposed on the Ridge West block within Stikine volcanics.
- All new ground (115 sq. km) was acquired by staking, including a series of non-adjoining claims separate from Chachi East and Ridge West totaling 23.3 sq. km.
Maurizio “Mars” Napoli, Crystal Lake’s VP Exploration, commented: “We have managed to gain control of the potential extensions of two large and prospective corridors on the Newmont Lake Property. Vectoring of soil anomalies into Chachi East and the numerous mineral occurrences on Ridge West add to an already impressive land package at the Newmont Lake Project.”
Updated Claims Map Showing Chachi East, Ridge West
Crystal Lake Mining Expands its Newmont Lake Property with the Chachi East and Ridge West Staked Claims
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/6406/45763_caa5ca73f4d56a96_001full.jpg
Qualified Person
The technical information in this news release has been reviewed and approved by Mr. Maurizio Napoli, P.Geo., a qualified person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.
About Crystal Lake Mining
Crystal Lake Mining is a Canadian-based junior exploration company focused on building shareholder value through high-grade discovery opportunities in British Columbia and Ontario. The Company has an option to earn a 100% interest in the Newmont Lake Project, now the largest land package among juniors in the broader Eskay region in the heart of Northwest B.C.’s Golden Triangle.
On Behalf of the Board of Directors,
CRYSTAL LAKE MINING CORP.
“Richard Savage”
President & CEO
Email: info@crystallakemining.com
For further information please contact:
MarketSmart Communications
Tel: +1 (604) 261-4466
Toll Free: +1 (877) 261-4466
Email: info@marketsmart.ca
Momentum Public Relations
Tel: +1 (514) 815-7473
Email: mark@momentumpr.com
- Published in Crystal Lake Mining, Mining, News Home
Sirona Biochem Signs Term Sheet for TFC-1067 with Skincare Industry Leader Rodan + Fields
Momentum Public Relations
Press Release: June 19, 2019
Sirona Biochem Corp. (TSX-V: SBM) (FSE: ZSB) (OTC: SRBCF) (“Sirona“) is pleased to announce that a non-binding term sheet has been signed with Rodan + Fields, LLC (Rodan + Fields) for the commercial sales of novel ingredient TFC-1067. This term sheet covers all material terms and conditions of a definitive agreement with San Francisco-based, industry leading, Rodan + Fields. The definitive agreement is expected to be signed in Q3/2019.
The term sheet stipulates Sirona will become a manufacturer and supplier of TFC-1067 for use by Rodan + Fields on a non-exclusive basis in its current markets (USA, Canada and Australia) as well as future regions. Sirona has initiated preparations for manufacturing TFC-1067 to be in place near term for anticipated product launches. In addition to revenue from the sale of TFC-1067, a fee will be paid by Rodan + Fields on signing of the definitive agreement followed by milestone fees paid for each product launched by Rodan + Fields that incorporates Sirona’s innovative skin lightening agent TFC-1067.
The term sheet incorporates establishing regular formal meetings between Sirona’s scientists at TFChem and the scientists at the research department of Rodan + Fields. Future commercial opportunities based on the platform technology of Sirona Biochem will be explored. This term sheet is the result of extensive due diligence by Rodan + Fields spanning more than one year. This agreement is fitting for both Rodan + Fields and Sirona because of a mutual desire to deliver premium consumer products that are safe and effective.
Founded by Stanford-trained dermatologists, Dr. Katie Rodan and Dr. Kathy Fields, Rodan + Fields was launched with the mission of giving consumers the best skin of their lives and bring dermatology-inspired skincare to everyone. With clinic-quality skincare Regimens and a powerful community of Independent Consultants, Rodan + Fields is the leading skincare brand in the United States and one of the fastest growing industry disruptors in beauty.
Rodan + Fields has been ranked the number one skincare brand in the U.S.1 and North America2 in 2018 by Euromonitor International Ltd. (“Euromonitor”), which publishes the world’s most comprehensive market research on the skincare industry. Rodan + Fields has received several other accolades from Euromonitor, including the number one premium acne brand in the US and Canada3and number one premium body care brand in North America in 20184.
“After many years of developing TFC-1067 with the support of the French government and European Union in the Cosmetic Valley, France, we are excited to partner with skincare industry leader Rodan + Fields”, reports Dr. Howard Verrico CEO of Sirona Biochem. “This marks an important milestone for Sirona Biochem. We highly value the successful due diligence of Rodan + Fields as further validation of our technology platform, in particular TFC-1067.”
“We are committed to providing our Consultant community and their consumers with products that feature cutting-edge technology that provide visible results. After an extensive search, we are pleased to partner with Sirona to leverage their new brightening agent in our products. With clinically proven effectiveness and an excellent safety profile, TFC-1067 will enable our products to improve the appearance of skin dullness, discoloration and uneven skin tone for a younger looking complexion. We look forward to leveraging this excellent new ingredient in future product lines and working together to bring more of our lifechanging skincare products to the market,” said Simon Craw, Senior Director R&D Business Development at Rodan + Fields.
1Source Euromonitor International Limited; Beauty and Personal Care 2019 Edition, retail value RSP terms; all channels, Skincare includes Sets & Kits. |
2Source Euromonitor International Limited; Beauty and Personal Care 2019 Edition, retail value RSP terms; all channels, Skin Care includes Sets and Kits; North America defined as Canada and the United States. |
3Source Euromonitor International Limited; Beauty and Personal Care 2019 Edition, retail value RSP terms; all channels; Premium Acne Treatments including Acne Treatments sold as part of Sets and Kits. |
4Source Euromonitor International Limited; Beauty and Personal Care 2019 Edition, retail value RSP terms; all channels, Premium Body Care includes Sets and Kits. |
About Rodan + Fields
Founded by Stanford-trained dermatologists Dr. Katie Rodan and Dr. Kathy Fields, Rodan + Fields was launched in 2002 with the mission of giving consumers the best skin of their lives. The brand is a result of the Doctors’ belief that healthy skin empowers people to feel confident. Born in the digital era and designed to directly reach consumers where they live and shop via mobile and social networks, Rodan + Fields is disrupting the industry with its regimen-based skincare and powerful Independent Consultant community.
For more information, please visit www.rodanandfields.com.
About Sirona Biochem Corp.
Sirona Biochem is a cosmetic ingredient and drug discovery company with a proprietary platform technology. Sirona specializes in stabilizing carbohydrate molecules with the goal of improving efficacy and safety. New compounds are patented for maximum revenue potential.
Sirona’s compounds are licensed to leading companies around the world in return for licensing fees, milestone fees and ongoing royalty payments. Sirona’s laboratory, TFChem, is located in France and is the recipient of multiple French national scientific awards and European Union and French government grants. For more information, please visit www.sironabiochem.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Sirona Biochem cautions you that statements included in this press release that are not a description of historical facts may be forward-looking statements. Forward-looking statements are only predictions based upon current expectations and involve known and unknown risks and uncertainties. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of release of the relevant information, unless explicitly stated otherwise. Actual results, performance or achievement could differ materially from those expressed in, or implied by, Sirona Biochem’s forward-looking statements due to the risks and uncertainties inherent in Sirona Biochem’s business including, without limitation, statements about: the progress and timing of its clinical trials; difficulties or delays in development, testing, obtaining regulatory approval, producing and marketing its products; unexpected adverse side effects or inadequate therapeutic efficacy of its products that could delay or prevent product development or commercialization; the scope and validity of patent protection for its products; competition from other pharmaceutical or biotechnology companies; and its ability to obtain additional financing to support its operations. Sirona Biochem does not assume any obligation to update any forward-looking statements except as required by law.
SOURCE Sirona Biochem Corp.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2019/19/c8969.html
Contact:
regarding this press release, please contact: Investor Enquiries: Jonathan Williams, Managing Director, Momentum PR, Phone: 1.450.332.6939, Email: jwilliams@momentumpr.com; Corporate Enquiries: Dr. Howard Verrico, CEO, Chairman of the Board, Sirona Biochem Corp., Phone: 1.604.641.4466, Email: info@sironabiochem.com; Rodan+ Fields: Corporate Communications + PR, Email: corporatepr@rodanandfields.com
- Published in Business, Life Sciences, News Home, Sirona Biochem
North Bud Farms Signs Binding Letter of Intent to Acquire California Licensed Extraction Company Tanforan Ventures
Momentum Public Relations
Press Release: June 18, 2019
North Bud Farms Inc.(CSE: NBUD) (OTCQB: NOBDF) (“NORTHBUD” or the “Company”) is pleased to announce that effective June 15, 2019 it has entered into a binding letter of intent (“LOI”) to acquire all of the issued and outstanding securities of Tanforan Ventures LLC (“Tanforan”), a California-based licensed operator holding Category 7 extraction and distribution licenses, in a transaction valued at CAD$8.6 million.
Tanforan holds manufacturing and distribution licenses in the state of California and is in the final stages of completing its new Category 7 licensed extraction facility in Woodland, California.
“We are very excited to have the opportunity to secure additional infrastructure and talent as we continue to execute on our U.S. expansion plans,” said Ryan Brown, CEO of North Bud Farms. “This strategically located extraction facility will facilitate the transportation of crude extract derived from bio-mass grown at contract farms located in Northern California. Assuming the successful closing of the proposed transaction with Tanforan and our previously announced transaction with Eureka Vapor, we intend to further process the crude extract into a finished consumer product at Eureka Vapor’s manufacturing and distribution facility located in Los Angeles to service the Southern California market.”
Transaction Terms
The proposed transaction (the “Transaction”) is currently structured as a share purchase agreement whereby in exchange for the purchase of all of the securities of Tanforan, NORTHBUD will issue CAD$5 million in common shares (“Common Shares”) to the shareholders of Tanforan (the “Tanforan Shareholders”) with the price per Common Share to be determined based on a formula of the higher of (a) CAD$0.35 per Common Share and (b) the 30-day volume weighted average price (“VWAP”) calculated on the closing date (the “Closing Date”) of a definitive agreement in respect of the Transaction (the “Definitive Agreement”). NORTHBUD and Tanforan expect to enter into the Definitive Agreement by October 1, 2019.
In addition, Tanforan shareholders will be entitled to receive up to an additional CAD$3.6 million in Common Shares of NORTHBUD, on a pro rata basis, upon Tanforan achieving revenue of USD$11,700,000 from extraction contracts over a 12 month period following the closing of the Transaction. All of the foregoing revenue milestone Common Shares will have a deemed value equal to the consideration shares and will be subject to the same escrow period.
10% of the Common Shares to be issued pursuant to the Definitive Agreement will be issued to the Tanforan shareholders on the Closing Date, with the remainder of the Common Shares to be issued in equal tranches after six, twelve, eighteen, and twenty-four months from the Closing Date (the “Escrow Period”).
The Transaction is a significant acquisition, but will not result in a “Fundamental Change” pursuant to the policies of the CSE. NORTHBUD will be preparing the necessary corporate and securities filings in order to secure the required approvals for the Transaction.
NORTHBUD has agreed to pay $150,000 in broker/finder fees to arm’s length parties in connection with the closing of the Transaction.
The closing of the Transaction is conditional on Tanforan receiving its final Certificate of Occupancy from the city of Woodland, the receipt of all applicable permits as well as the receipt by the parties of applicable corporate and regulatory approvals including that of the CSE.
“The opportunity to acquire a state-of-the-art facility with an experienced operations team is an exciting prospect for NORTHBUD,” says Ryan Brown, CEO of NORTHBUD. “We believe that the combination of Tanforan’s facility and services combined with Eureka Vapor’s products and distribution will give NORTHBUD an excellent platform to capitalize on the California recreational cannabis market, considered to be the largest in North America.”
“The Tanforan team is excited to join forces with NORTHBUD and Eureka to capitalize on the largest consumer market in North America,” said Shannan Day, CEO of Tanforan Ventures. “Tanforan has extensive exclusive agreements with licensed Cannabis farms in Northern California and we look forward to working with NORTHBUD and Eureka to create high quality products for distribution in Southern California.”
While the proposed transactions involving Tanforan and Eureka Vapor are complementary, they are independent and the Company may ultimately proceed to close one, both or neither of the proposed transactions, depending on market conditions and regulatory requirements.
Update on Acquisition of Eureka Vapor
As previously announced in the Company’s press release dated May 15, 2019, NORTHBUD and Eureka Vapor LLC (“Eureka”) continue to work towards completing a definitive agreement whereby NORTHBUD is to acquire all of the issued and outstanding shares of Eureka and all of its subsidiaries. Based on projected timelines for the completion of the audit of Eureka’s financial statements, the companies expect to sign a definitive agreement in the third quarter of the 2019 calendar year.
Update on Financing
The Company expects to close a first tranche of its non-brokered private placement later this week. As previously announced on May 15, 2019, the private placement is for up to 13,333,333 units at a price of $0.30 per unit, for gross proceeds of up to $4 million. Each unit will be comprised of one common share of the Company and one common share purchase warrant. Each warrant will entitle the holder to acquire an additional share at a price of $0.40 for a period of 24 months from the closing date.
About Tanforan Ventures LLC.
Historically Tanforan’s business operated under the proposition 215 regulatory structure. As of January 2019, Tanforan successfully applied for and received a volatile extraction license under the California adult use regulations laws. Tanforan specializes in white label extraction services.
About North Bud Farms Inc.
North Bud Farms Inc., through its wholly owned subsidiary GrowPros MMP Inc., is pursuing a licence under The Cannabis Act. The Company is constructing a state-of-the-art purpose-built cannabis production facility located on 95 acres of Agricultural Land in Low, Quebec. North Bud Farms Inc. will be focused on Pharmaceutical and Food Grade cannabinoid production in preparation for the legalization of edibles and ingestible products scheduled for October 2019.
About Eureka Vapor LLC
Headquartered in Los Angeles, California, EUREKA Vapor was founded in 2011 and holds licenses in both California and Colorado. EUREKA Vapor’s multi state operation manufactures and sells a premium line of vaporizer cartridges, disposable vapor pens and proprietary vaporizer batteries designed to work with their highly sought-after CO2 extracted oil. Using their refined extraction processes and techniques developed over almost a decade of extracting, EUREKA Vapor is committed to providing the cleanest and safest natural oil cartridges in the industry. Long referred to as one of the leaders in the industry, EUREKA has one of the most loyal customer bases in the category which reflects their commitment to honesty and transparency above all else. EUREKA continually looks for innovative ways to improve and refine their product offerings in order to deliver the best, most consistent vaping experience in the industry.
For more information visit: www.northbud.com
Neither the Canadian Securities Exchange (the “CSE”) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements
Certain statements included in this press release constitute forward-looking information or statements (collectively, “forward-looking statements”), including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, “may”, “should” and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward- looking statements including those relating to the entering into of the Definitive Agreement, closing of the Transaction and associated approvals, Tanforan’s ability to achieve milestones under the Definitive Agreement and associated Common Share issuances. These forward-looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors. Such risks and uncertainties include, among others, the risk factors included in North Bud Farms Inc.’s final long form prospectus dated August 21, 2018 which is available under the issuer’s SEDAR profile at www.sedar.com.
FOR ADDITIONAL INFORMATION, PLEASE CONTACT:
North Bud Farms Inc.
Edward Miller
VP, IR & Communications
Office: (855) 628-3420 ext. 3
investors@northbud.com