This Is Why Grown Rogue International Inc. (CNSX: GRIN) Appears Undervalued
Grown Rogue International Inc. (CNSX: GRIN) share price is yet to paint an accurate picture of the company’s tremendous potential amidst improving fundamentals. Investor sentiments in the stock did take a hit if price action in the first half of the year is anything to go by. Wild price swings saw the stock rally by more than 50% before tumbling to all-time lows.
The plunge came as a surprise as it came at a time when the broader cannabis sector was flying high. In addition, the company has been on an impressive run on the execution of its core business affirming growth metrics and the need for a higher valuation in the market.
Sales Growth
Grown Rogue is enjoying its best run when it comes to sales growth. The company reported a record-breaking quarter depicted by 388% YoYo growth in sales that came in at $834,309. At the end of the quarter, the company projected continued growth throughout the year, relying on expansion plans to key cannabis markets of California, Oregon, and Michigan.
The Company did meet its promise of robust growth on reporting a 125% quarter over quarter increase in sales in Q2 that came in at $1.9 million. Sales growth is indicative of brand strength as well as distribution reach, as the company continues to expand its wings into new markets. The company has since grown from controlling just three cannabis licenses to 22 licenses further affirming its multi-state operations.
“To have gained this brand recognition and sales traction, in what is arguably the world’s most competitive legalized cannabis market, bodes very well for our expansion into California and particularly the newly legalized market in Michigan,” said CEO Obie Strickler.
Sales growth looks set to be the order of the day as the company has expanded its footprint into Michigan as part of its growth strategy. Michigan becomes the third state from which the company will operate in addition to Oregon and California.
The expansion should reduce the company’s reliance on one market for growth. It should also shield it from the effects of a downturn in one market.
Gross margins have also shown signs of improvement helped by robust growth in revenues. Gross margin in the recent quarter improved to $0.4 million, a 20% increase. Margins are likely to continue improving as cannabis prices in Oregon show signs of edging higher as demand continues to outpace supply.
Organic Growth
Grown Rogue has also underscored its push for growth at all cost. The acquisition of Decibel Farms affirms push for inorganic growth even as the company continues to refine its internal operations to accelerate organic growth.
The acquisition of Decibel Farms marks an important milestone in the company’s growth strategy. With the acquisition, the company gains access to a valuable asset poised to strengthen its cannabis cultivation and production capacity further.
According to the Chief Executive Officer, Decibel Farms will bolster Grown Rogue manufacturing capacity in Oregon where demand for cannabis products is on the rise. Production capacity could reach highs of 5,400kg by the end of the year with the scaling of cultivation operations.
“We believe that licenses, assets, and operations are of little value without an experienced team that knows how to cultivate quality cannabis products at scale and build meaningful brands. Our team has been building these core competencies for the past 3 years,” added Jacques Habra, Chief Strategy Officer.
Demand for branded products continues to exceed internal production; one of the reasons the company is turning to acquisition to ramp up capacity.
Grown Rogue Price Analysis
While Grown Rogue has lost a significant amount of market value over the past six months, price action activity indicates potential to bounce back from all-time lows. The C$0.20 mark has since emerged as a crucial support level from where bulls appear to be jostling for positions consequently fuelling a bullish momentum.
Given the descending long-term bear trend and the fact that bears appear to be in control, the stock might have to rally and take out the C$0.24 resistance level, for the short-term momentum to turn bullish. A rally followed by a close above the C$0.24 mark could arouse buying pressure from buyers who have been on the fence.
https://ca.finance.yahoo.com/news/grown-rogue-reports-388-growth-111100202.html
https://ca.finance.yahoo.com/news/grown-rogue-announces-proposed-acquisition-124100831.html
https://ca.finance.yahoo.com/news/grown-rogue-second-quarter-revenue-123800178.html
- Published in Cannabis, CBD, Grown Rogue, Marijuana
Sirona Biochem Announces Successful Close of Oversubscribed Private Placement
Momentum Public Relations
Press Release: July 10, 2019
Sirona Biochem Corp. (TSX-V: SBM) (Frankfurt: ZSB) (“Sirona“) is very pleased to announce today that it closed its private placement (Private Placement”) as oversubscribed for gross proceeds of $1,500,000 CAD. The Private Placement consists of 3,750,000 units, (the “Units”) at a price of $0.40 per Unit. Each Unit consists of one common share and one transferable share purchase warrant, each whole warrant exercisable into one additional common share of the Company for a period of 3 years from the date of issue at a price of $0.60 per share subject to an acceleration clause.
All securities issued under the Private Placement are subject to statutory hold periods expiring on November 10, 2019.
Proceeds will be used to establish Asia-based manufacturing for TFC-1067 as well as to accelerate Sirona’s anti-ageing and anti-wrinkle projects.
No insiders participated in the Private Placement.
No finders’ fees were paid from the Private Placement.
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/July2019/10/c0585.html
Contact:
Jonathan Williams, Managing Director, Momentum PR, Phone: 1.450.332.6939, Email: jwilliams@momentumpr.com
- Published in Life Sciences, News Home, Sirona Biochem
Crop’s Hempire Increasing Distribution Ownership in California
Momentum Public Relations
Press Release: July 10, 2019
CROP INFRASTRUCTURE CORP. (CSE: CROP) (OTC: CRXPF) (Frankfurt: 2FR) announced today that Hempire has increased its ownership of Flip Distro to 51% for $100,000 in capital expenditures and product marketing at the distribution company.
Increasing the ownership in Flip Distro, in concert with the recently announced acquisition of the Cathedral City dispensary, lounge and California-wide delivery provisional licences, will empower the company to use Flip for a secondary fulfillment centre for delivery logistics.
CROP’s Humboldt Holdings has an option to acquire 100% of Hempire’s interest in Flip at any time it becomes legal and compliant to do so.
Furthermore, the company is currently reviewing multiple locations in Cathedral City for the Emerald Heights flagship store, necessary to perfect and transfer the provisional licences. The company also announces that it has applied for a retail licence in Contra Costa.
CROP CEO, Michael Yorke, stated: “CROP will be able to connect the Emerald Heights Southern California retail provisional licence with Flip Distro’s Northern California distribution license to create a secondary drop point for delivery drivers. CROP and its partners are working hard to create as much value through the supply chain as possible for shareholders.”
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 Announces Proposed Strategic Equity Investment
Momentum Public Relations
Press Release: July 9, 2019
Sirona Biochem Corp. (TSX-V: SBM) (FSE: ZSB) (“Sirona“) is pleased to announce it has arranged a non-brokered private placement for gross proceeds of $1,000,000. The private placement consists of 2,500,000 units, (the “Units”) at a price of $0.40 per Unit. Each Unit consists of one common share and one transferable share purchase warrant, each whole warrant exercisable into one additional common share of the Company for a period of 3 years from the date of issue at a price of $0.60 per share subject to an acceleration clause.
The Company is proposing to pay a finder’s fee to an agent or agents that assist in procuring the proceeds of the offering. Such Fee shall consist of a cash fee equal to no more than 8% of the total proceeds of the Private Placement placed by such finder and warrants up to 8% of the number of Units the finder sells in the Private Placement (the “Finder’s Warrants“). The Finder’s Warrants will be exercisable into one additional Share of the Company at a price of CAD$0.60 per Share for a period of 3 years from the closing date of the Private Placement.
Sirona Biochem is offering the strategic financing to diversify its shareholder base to include Asia-based investors who wish to establish an initial equity position in the company. The funds from this financing, in addition to general working capital, will be used to establish Asian-based manufacturing for TFC-1067.In addition, proceeds from the private placement will also be allocated to accelerate Sirona’s anti-ageing and anti-wrinkle projects.
“We are excited about this financing, principally because it positions strategic investors that will strengthen ties to our expanding presence in Asia“, reports Dr. Howard Verrico, CEO of Sirona Biochem. “Sirona now has a healthy balance sheet that will allow us to focus on continued growth of the company.”
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/July2019/09/c1040.html
Contact:
Jonathan Williams, Managing Director, Momentum PR, Phone: 1.450.332.6939, Email: jwilliams@momentumpr.com
- Published in News Home, Sirona Biochem, Uncategorized
Underground Channel Sampling Delivers 20.4 meters grading 18.9 g/t Au & 33 g/t Ag
Momentum Public Relations
Press Release: July 9, 2019
Bluestone Resources Inc. (TSXV: BSR) (OTCQB: BBSRF) (“Bluestone” or the “Company”) is pleased to announce channel sampling results taken across high-grade veins exposed in a recently opened cross-cut located in the North Zone of the Cerro Blanco underground workings. The samples were taken as horizontal channels perpendicular to the strike of the veins.
Cross-cut N734 was sealed off by the previous operator in 2015, but Bluestone recently re-opened and restored the initial 50 meters of tunnel as part of the Company’s successful ongoing exploration and underground development program. Channel sampling of both walls returned the following high-grade assays:
South Wall – 20.4 meters grading 18.9 g/t Au and 33 g/t Ag (est. true width 16.7 meters)
North Wall – 19.9 meters grading 17.1 g/t Au and 23 g/t Ag (est. true width 16.9 meters)
David Cass, Vice President of Exploration commented, “The successful re-opening of this exploration drive has permitted sampling of several key veins within the upper portion of the Cerro Blanco resource and helped validate their importance within the current resource model. These impressive high-grade assays are consistent with our sampling early last year of the same veins lower down in the main decline of the North Ramp some 50 meters away. The continuity and consistency of vein widths and grades is striking and supports our observations from the ongoing infill resource conversion drilling as we continue to advance our knowledge of the Cerro Blanco orebody and de-risk the project.”
A summary of results is shown in Table 1 below. A full set of individual assays, plans and photos showing the location of samples can be accessed here.
Table 1. Channel Sample Results
SOUTH WALL | |||||||||||
Sample # | Sample Width (m) |
True Width (m) |
Au g/t | Ag g/t | Vein ID | ||||||
RCB-3655 | 1.0 | 1.0 | 9.8 | 15.9 | VN-02 | ||||||
RCB 3570,3656 | 1.9 | 1.9 | 4.8 | 24.8 | NEW | ||||||
RCB 3657 | 1.0 | 1.0 | 16.7 | 19.6 | VN-03 | ||||||
RCB 3599-3609 | 7.5 | 7.0 | 19.4 | 25.2 | VN_05 | ||||||
inc. | 1.9 | 1.8 | 38.7 | 39.6 | |||||||
RCB 3612-13 | 2.0 | 1.8 | 6.9 | 16.9 | VN_06 | ||||||
RCB 3615-24 | 8.4 | 8.0 | 26.7 | 53 | VN_07 | ||||||
inc. | 1.3 | 1.2 | 98.8 | 197 | |||||||
20.4 | 16.7 | 18.9 | 33.2 | VN_05,06,07 |
NORTH WALL | |||||||||||
Sample # | Sample Width (m) |
True Width (m) |
Au g/t | Ag g/t | Vein ID | ||||||
RCB 3596 | 1.0 | 1.0 | 13.5 | 32.8 | VN_02 | ||||||
RCB3594 | 1.0 | 1.0 | 49.8 | 227 | VN_03 | ||||||
RCB 3625-32 | 7.8 | 7.3 | 21.0 | 25.8 | VN_05 | ||||||
inc. | 1.8 | 1.7 | 52.3 | 48.1 | |||||||
RCB 3635-36 | 2.3 | 2.2 | 5.1 | 15.3 | VN_06 | ||||||
RCB-3638-46 | 7.9 | 7.5 | 20.7 | 26.9 | VN_07 | ||||||
inc. | 1.3 | 1.2 | 77.2 | 63.6 | |||||||
19.9 | 16.9 | 17.1 | 23 | VN_05,06,07 |
A total of 47 samples were taken with a portable rock saw across exposures of five key veins VN-02, 03, 05, 06, and 07 as continuous channels approximately two inches wide and one inch deep. Individual sample widths ranged from 0.5 meter to 1.4 meters. Veins are parallel and dip between 60 to 65 degrees and consist of banded chalcedony quartz-adularia veins hosted within red siltstones. Assay results are in line with those previously reported from exposures of the same veins in the North Ramp (see Company press releases January 23, 2018 and April 9, 2018).
Sampling of the underground workings at Cerro Blanco continues to play a key role in identification of high-grade veins and in the validation of the geological model within and outside of the current resource envelope. Several additional veins are known to occur further east along the same cross-cut and will be sampled as rehabilitation of the cross-cut progresses.
Precious metal mineralization at Cerro Blanco is associated with classic low sulphidation adularia-sericite epithermal quartz veins and vein swarms hosted in altered sequence of volcanoclastic and sedimentary rocks. Higher grades (>20 g/t Au and >60 g/t Ag) are associated with visible gold and silver sulphides in ginguro-style colloform-banded veins.
Quality Analysis and Quality Control
Wire mesh was removed from sections to be sampled and walls cleaned by high-pressure power washing. Assay results were performed by Inspectorate Laboratories (“Inspectorate”), a division of Bureau Veritas, which are ISO 17025 accredited laboratories. Sampling was undertaken on site at Cerro Blanco by Company personnel under a QA/QC protocol developed by Bluestone under the supervision of David Cass, Qualified Person for Bluestone. Samples are transported in security-sealed bags to Inspectorate, Guatemala City, Guatemala, for sample preparation. Sample pulps are shipped to Inspectorate Laboratories in Vancouver, BC, Canada or Reno, NV, USA, and assayed using industry-standard assay techniques for gold and silver. Gold and silver were analysed by a 30-gram charge with atomic absorption and/or gravimetric finish for values exceeding 5 g/t Au and 100 g/t Ag. Analytical accuracy and precision are monitored by the analysis of reagent blanks, reference material, and replicate samples. Quality control is further assured by Bluestone’s QA/QC program, which involves the insertion of blind certified reference materials (standards) and field duplicates into the sample stream to independently assess analytical precision and accuracy of each batch of samples as they are received from the laboratory. Additionally, pulps and coarse rejects are routinely submitted to ALS Chemex Laboratories in Vancouver for check analysis and additional quality control.
Qualified Person
David Cass, P.Geo., Vice President Exploration, is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 and has reviewed and verified that the technical information set out above in this news release is accurate and therefore approves this written disclosure of the technical information.
About Bluestone Resources
Bluestone Resources is a mineral exploration and development company that is focused on advancing its 100%-owned Cerro Blanco Gold and Mita Geothermal projects located in Guatemala. A Feasibility Study on Cerro Blanco returned robust economics with a quick pay back. The average annual production is projected to be 146,000 ounces per year over the first three years of production with all-in sustaining costs of $579/oz (as defined per World Gold Council guidelines, less corporate general and administration costs). The Company trades under the symbol “BSR” on the TSX Venture Exchange and “BBSRF” on the OTCQB.
On Behalf of Bluestone Resources Inc.
“Darren Klinck”
Darren Klinck | President, Chief Executive Officer & Director
For further information, please contact:
Bluestone Resources Inc.
Stephen Williams | VP Corporate Development & Investor Relations
Phone: +1 604 646 4534
info@bluestoneresources.ca
www.bluestoneresources.ca
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
This press release contains “forward-looking information” within the meaning of Canadian securities legislation and “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively, “forward-looking statements“). All statements, other than statements of historical fact, that address activities, events or developments that Bluestone Resources Inc. (“Bluestone” or the “Company“) believes, expects or anticipates will or may occur in the future including, without limitation: the conversion of the inferred mineral resources; increasing the amount of measured mineral and indicated mineral resources; the proposed timeline and benefits of further drilling; the proposed timeline and benefits of the Feasibility Study; statements about the Company’s plans for its mineral properties; Bluestone’s business strategy, plans and outlook; the future financial or operating performance of Bluestone; capital expenditures, corporate general and administration expenses and exploration and development expenses; expected working capital requirements; the future financial estimates of the Cerro Blanco Project economics, including estimates of capital costs of constructing mine facilities and bringing a mine into production and of sustaining capital costs, estimates of operating costs and total costs, net present value and economic returns; proposed production timelines and rates; funding availability; resource estimates; and future exploration and operating plans are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to Bluestone and often use words such as “expects”, “plans”, “anticipates”, “estimates”, “intends”, “may” or variations thereof or the negative of any of these terms.
All forward-looking statements are made based on the Company’s current beliefs as well as various assumptions made by them and information currently available to them. Generally, these assumptions include, among others: the ability of Bluestone to carry on exploration and development activities; the price of gold, silver and other metals; there being no material variations in the current tax and regulatory environment; the exchange rates among the Canadian dollar, Guatemalan quetzal and the United States dollar remaining consistent with current levels; the presence of and continuity of metals at the Cerro Blanco Project at estimated grades; the availability of personnel, machinery and equipment at estimated prices and within estimated delivery times; metals sales prices and exchange rates assumed; appropriate discount rates applied to the cash flows in economic analyses; tax rates and royalty rates applicable to the proposed mining operation; the availability of acceptable financing; anticipated mining losses and dilution; success in realizing proposed operations; anticipated timelines for community consultations and the impact of those consultations on the regulatory approval process.
Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, Bluestone. Factors that could cause actual results or events to differ materially from current expectations include, among other things: risks relating to variations in the mineral content within the mineral identified as mineral resources from that predicted; risks and uncertainties related to expected production rates, timing and amount of production and total costs of production; risks and uncertainties related to ability to obtain or maintain necessary licenses, permits, or surface rights; risks associated with technical difficulties in connection with mining development activities; risks and uncertainties related to the accuracy of mineral resource estimates and estimates of future production, future cash flow, total costs of production and diminishing quantities or grades of mineral resources; risks associated with geopolitical uncertainty and political and economic instability in Guatemala; risks and uncertainties related to interruptions in production; the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations; uncertain political and economic environments and relationships with local communities; variations in rates of recovery and extraction; developments in world metals markets; risks related to fluctuations in currency exchange rates; as well as those factors discussed under “Risk Factors” in the Company’s Amended and Restated Annual Information Form.
Any forward-looking statement speaks only as of the date on which it was made, and except as may be required by applicable securities laws, Bluestone disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although Bluestone believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to their inherent uncertainty. There can be no assurance that forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.
Non-IFRS Financial Performance Measures
The Company has included certain non-International Financial Reporting Standards (“IFRS“) measures in this new release. The Company believes that these measures, in addition to measures prepared in accordance with IFRS, provide investors an improved ability to evaluate the underlying performance of the Company and to compare it to information reported by other companies. The non-IFRS measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. These measures do not have any standardized meaning prescribed under IFRS, and therefore may not be comparable to similar measures presented by other issuers.
All-in sustaining costs
The Company believes that all-in sustaining costs (“AISC“) more fully defines the total costs associated with producing gold.
The Company calculates AISC as the sum of refining costs, third party royalties, site operating costs, sustaining capital costs and closure capital costs all divided by the gold ounces sold to arrive at a per ounce amount. Other companies may calculate this measure differently as a result of differences in underlying principles and policies applied. Differences may also arise due to a different definition of sustaining versus non-sustaining capital.
Total cash costs
Total cash costs is a common financial performance measure in the gold mining industry but has no standard meaning. The Company reports total cash costs on a gold ounce sold basis. The Company believes that, in addition to measures prepared in accordance with IFRS, such as revenue, certain investors can use this information to evaluate the Company’s performance and ability to generate operating earnings and cash flow from its mining operations. Management uses this metric as an important tool to monitor operating cost performance.
Total cash costs include (cost of sales such as mining, processing, maintenance and site administration, royalties, selling costs and by-product credits) to arrive at total cash costs per ounce of gold sold. Other companies may calculate this measure differently.
AISC and total cash costs reconciliation
ASIC and total cash costs are calculated based on the definitions published by the World Gold Council (“WGC“) (a market development organization for the gold industry comprised of and funded by 18 gold mining companies from around the world). The WGC is not a regulatory organization.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/46135
- Published in Bluestone Resources, Mining, News Home
Romios Receives Third $250,000 Option Payment and Appoints a Director on Crystal Lake’s Board
Momentum Public Relations
Press Release: July 8, 2019
Romios Gold Resources Inc. (TSXV: RG) (OTC Pink: RMIOF) (FSE: D4R) (“Romios” or the “Company”) today announced that Crystal Lake Mining Corp. (“CLM“) has made the third $250,000 option payment under the agreement (the “Definitive Agreement”) whereby Romios’ Newmont Lake Property (“Newmont Lake“) has been optioned to CLM. Under the terms of the Definitive Agreement, Romios has appointed Lawrence Roulston as its nominee on CLM’s Board of Directors.
Over the next three years, CLM can earn a 100% working interest in Newmont Lake in consideration for, among other things, issuing to Romios 12 million common shares of CLM, 4 million of which have been received, and paying a further $1 million ($1 million has been received to date) upon CLM earning its 100% interest in Newmont Lake through the expenditure of $8 million on Newmont Lake over a 3-year period. CLM is required to spend $3 million on Newmont Lake by September 20, 2019. Romios retains a 2% Net Smelter Returns Royalty (“2% NSR“) on Newmont Lake, or on any after-acquired claims within a 5 km radius of the current boundaries of Newmont Lake. The 2% NSR may be reduced at any time to a 1% NSR on the payment of $2 million per 0.5% NSR.
If CLM is successful in acquiring Newmont Lake, and in the event an NI-43-101compliant resource estimate is issued in respect of any part of Newmont Lake which exceeds 1 million ounces of gold equivalent resources, Romios will be issued an additional 2 million common shares of CLM. It will also receive an additional 1 million common shares of CLM for each additional1 million ounces of gold equivalent resource on any part of Newmont Lake.
In addition to Newmont Lake, Romios holds approximately 390 sq km in the Golden Triangle area in BC, near the Galore Creek project held by Newmont and Teck Resources. The Company is planning exploration and drilling in the area this summer. Romios has also been conducting exploration and drilling on the Lundmark-Akow Lake Cu-Au-Ag project in northwestern Ontario over the past two months.
- Published in Crystal Lake Mining, Mining
Grown Rogue International Inc. (CNSX: GRIN) Enjoying Robust Growth After Six-Fold Revenue Increase
Improved operational efficiency is one of the factors behind Grown Rogue International Inc. (CNSX: GRIN) stellar performance in the second quarter. A six-fold increase in revenues sets the stage for what could turn out to be a record-breaking year for the licensed cannabis operator.
Grown Rogue Q2 Financial Results
The company’s stock has gained approximately 20% since announcing it’s Q2 financial results which could well be attributed to growing investors’ confidence about the company’s growth metrics and long term prospects.
After making a name for itself in Oregon and California cannabis marketplace, Grown Rogue is once again expanding its footprint into Michigan in pursuit of opportunities for growth. With the expansion drive, the company is planning to accelerate sales growth after reporting $1.9 million in sales in Q2, representing a 548% year over year increase.
Sales growth in Q2 was mostly driven by internal sales force as well as third-party distribution and strengthening of the company’s brand. Gross margins ballooned to $0.4 million from 0.04% million a year, accounting for 20% of revenues. Improvement in gross margin was mostly as a result of refined cultivation process that led to lower costs of sales.
General and administrative expenses more than doubled in the quarter to $1.3 million attributed to an expanded scope of operations associated with sales, general and administrative support. Grown Rogue ended the quarter with an adjusted EBITDA loss of $1 million compared to a net loss of $0.6 million reported a year earlier. Management attributes the wider than expected loss to increased infrastructure investments that continue to support growth plans.
According to the Chief Executive Officer, Obie Strickler, second quarter revenue results underscore brand strength and distribution reach in the Oregon area. The company is planning to replicate the same performance in California and Michigan, other cannabis markets that represent significant opportunities for growth.
“The proposed acquisition of Decibel Farms announced in April is expected to increase our manufacturing capacity in Oregon, where we continue to enjoy record demand for our products. Our California distribution license went into effect during the second quarter with revenues expected to commence this month,” explained Mr. Strickler.
The company’s production capacity is poised to more than double to 5,400 kgs with the acquisition of Decibel Farms. Grown Rogue is also in the process of integrating a 40,000 square feet greenhouse as it continues to ramp up its production capacity.
Grown Growth Expansion Drive
Some of the key highlights in the second quarter included cannabis cultivation in Oregon expected to increase the overall yield by 50%. California expansion is already gaining traction thanks to the integration of a 16,000 sq. ft. facility. Grown Rogue has since strengthened its retail, processing, distribution operations as it seeks to ramp up sales effort in the state.
In Michigan, the company has signed a letter of intent as it seeks to acquire Inferno Gardens that will provide it with a head start in the market. With the acquisition, the company will gain access to a retail dispensary as well as an indoor cultivation and processing facility. The manufacturing facility is still under construction and expected to be operational before the end of the year.
Michigan being host to the second largest medical cannabis population presents a unique opportunity for the company given the size of the target audience. The market is thus expected to provide unique sales opportunities expected to strengthen Grown Rogue revenue base.
“Our facility in Muskegon will have the capacity to produce approximately 4,000 lbs. (~1814 kg) yearly of premium cannabis. This translates to $13-14 million in yearly revenue using today’s average market prices in Michigan,” stated Jacques Habra, Chief Strategy Officer of Grown Rogue.
The investments made have helped strengthen Grown Rogue’s core business as well as revenue base thus affirming growth metrics. The future can only be bright as the company moves to capture a wider target audience as it also continues to ramp up its cannabis production capacity.
https://ca.finance.yahoo.com/news/grown-rogue-second-quarter-revenue-123800178.html
https://ca.finance.yahoo.com/news/grown-rogue-reaches-binding-agreement-125300305.html
- Published in Uncategorized
Sirona Biochem Releases CEO Letter to Shareholders
Momentum Public Relations
Press Release: July 4th, 2019
Sirona Biochem Corp. (TSX-V: SBM) (FSE: ZSB) (“Sirona“) is pleased to provide a corporate update from the Company’s CEO, Dr. Howard Verrico, regarding its plans both near and long term in the following Q&A format. The questions, for the most part, are derived from inquiries received from investors:
Why are the details limited on the clinical trial update from Wanbang?
The pharmaceutical industry is highly competitive. Information on clinical development programs can be used strategically by other companies. Wanbang’s team has shared all details of their program with us and we are very pleased with the progress and dedication to the program. In good faith, they have agreed to allow us to share the update in a news release. This is not to their advantage and reflects their understanding that our shareholders appreciate the opportunity to be brought up to date. Rest assured, Wanbang is moving efficiently with a comprehensive plan towards full CFDA approval of Wanpagliflozin (TFC-039) to provide a leading treatment option in China, the world’s largest population of diabetic patients1.
How significant is the clinical stage of development?
Many drug development programs never reach clinical trials. In fact, many biotech companies are unsuccessful at progressing any project to the clinical trial stage. Sirona has had two projects reach clinical trials, both TFC-039 and TFC-1067. We believe we will succeed in bringing more projects to this stage utilizing our innovative platform technology. We are confident that full commercialization will be completed on both projects. This is a direct result of a highly predictable biological response to changes made to molecules using our platform technology and expertise.
How is Sirona’s relationship with Wanbang?
Sirona has an excellent working relationship with Wanbang. We have been working hard to grow this relationship. Mr. D. Billings, our consultant in China, has made many trips to meet with the management of Wanbang in recent months which helps tremendously to continually improve our communications. We are now better able to explore further exciting opportunities in working together.
Who is Mr. D. Billings?
Mr. Billings, a Canadian, was introduced by PRC Partners and became Sirona’s consultant in China. He has 17 years of experience representing Canadian companies in China and has established multiple successful partnerships. He has the expertise to bridge cultural and business practice differences and build strong successful partnerships.
Several months ago, Sirona was approached by a company to test TFC-039 as a drug for treating diabetes in cats and dogs. Also, what about the possibility of licensing TFC-039 beyond China for the treatment of diabetes in humans? Is Sirona able to further commercialize TFC-039?
We are actively working on a partnership with a global corporation that will be of great value to Sirona. Again, we are restricted to what we are able to disclose at this time. We can say that the probability of completing a definitive agreement is high. This project involves TFC-039. We will release details as soon as possible.
Will Sirona be able to complete a definitive agreement with Rodan + Fields regarding TFC-1067?
I see no obstacles. The process is proceeding smoothly.
Will Sirona be establishing more partnerships for TFC-1067?
Yes, multiple partnerships are anticipated. As we complete commercialization of TFC-1067 and obtain the necessary regulatory approvals, more companies will want to incorporate TFC-1067 into their product lines. We are actively in communication with several companies at this time. This will be an ongoing process as we are working in a global market consisting of multiple territories and sales channels.
What’s next in new projects?
We still have work to do on our anti-aging, anti-wrinkle, and keloid therapies. Our scientists also dedicate time to explore new opportunities. Currently, there are four more that I find exciting. To protect the IP prior to patent applications, we must keep these projects confidential at this point in time but I will talk about them as soon as appropriate.
Are further equity financings pending?
A strategic financing may occur to position specific investors, but we are not in a rush. Fortunately, the current share price allows much improved terms for Sirona. There is no equity financing planned or available for the current pool of investors. Moreover, many outstanding warrants are in the money, which is another source of growth capital. Nevertheless, we are planning a non-deal roadshow in the fall in North America as well as Europe to attract institutional investors.
Would Sirona consider listing on other senior stock exchanges?
Yes. As our market cap grows and financial balance sheet strengthens, listing Sirona on other international exchanges could become a benefit to shareholders and the growth of the company. We must do this from a position of strength. That time is approaching.
Are you considering a change in share structure?
There is no roll-back planned or anticipated. I value our shareholders and am not in favour of a roll-back that may erode shareholder value. As a major shareholder, I am biased in this regard. Listing on another senior exchange could be an exception where the share structure may require a change. There will be consideration to the possibility of turning Sirona into two companies. Sirona could be divided into a therapeutic and a skin care company to unlock further shareholder value and accelerate overall growth.
Are there future Board changes anticipated?
As we grow as a company our Board may need change in the future. Currently, I am very pleased with the support our current board provides Sirona. Jason Tian’s acceptance to our Board of Directors was a tremendous addition of much needed talent to assist Sirona in new Asian markets. Over time additional board members will be needed and we are continually exploring strategic options.
When will you implement a Shareholders Rights Plan (“Poison Pill”)?
Legal counsel for Sirona is currently working on putting a Shareholders Rights Plan in place. We have made it a high priority to protect our shareholders.
Shareholders appreciate the constant flow of news for the last couple of months, but will this continue?
There are many exciting things happening in the company, so yes, I will make a best effort to maintain frequent communications to keep our investors informed of our progress.
Thanks to the unprecedented support of our shareholders, we have been able to greatly improve our financial balance sheet and can drive growth. We will also be able to grow through partnerships and collaborations. 2019 is shaping up to be a pivotal year for Sirona. We envision 2020 and beyond to be even better.
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.
1 IDF Diabetes Atlas Eighth Edition 2017 https://www.sironabiochem.com/wp-content/uploads/2019/06/SBM-FS-QTR-ENDED-Q2-2019.pdf
SOURCE Sirona Biochem Corp.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2019/04/c8604.html
Contact:
regarding this press release, please contact: Jonathan Williams, Managing Director, Momentum PR, Phone: 1.450.332.6939, Email: jwilliams@momentumpr.com
- Published in Business, Life Sciences, News Home, Sirona Biochem
North Bud Farms Closes Second Tranche of Private Placement Financing
Momentum Public Relations
Press Release: July 3rd, 2019
North Bud Farms Inc. (CSE: NBUD) (OTCQB: NOBDF) (“NORTHBUD” or the “Company”) is pleased to announce the closing of a second tranche of its non-brokered private placement, previously announced on May 15, 2019, for gross proceeds of $1,122,000, by issuing 3,740,000 units at a price of $0.30 per unit. Each unit is comprised of one common share and one common share purchase warrant. Each warrant entitles the holder to acquire one additional common share of the Company at a price of $0.40 per share for a period of twenty-four months.
The Company plans to use the net proceeds of the offering to hire additional staff for its Canadian operations, pursue M&A opportunities in the United States, including new state license applications, and for general working capital purposes.
The Company expects to close on the balance of the previously announced private placement of up to $4 million in one or more additional tranches of the offering in the near future, subject to the receipt of all necessary regulatory approvals. All securities issued pursuant to the offering are subject to a four-month hold period in accordance with applicable Canadian securities laws.
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. North Bud Farms Inc. 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.
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 and information included in this press release that, to the extent they are not historical fact, constitute forward-looking information or statements (collectively, “forward-looking statements”) within the meaning of applicable securities legislation. 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. Forward-looking statements are based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect.
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the risk factors included in the Company’s final long form prospectus dated August 21, 2018, which is available under the Company’s SEDAR profile at www.sedar.com. Accordingly, readers should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company’s management to predict all of such factors and to assess in advance the impact of each such factor on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. The Company does not undertake any obligation to update any forward-looking statements to reflect information, events, results, circumstances or otherwise after the date hereof or to reflect the occurrence of unanticipated events, except as required by law including securities laws. This news release does not constitute an offer to sell or a solicitation of any offer to buy any securities of the Company.
FOR ADDITIONAL INFORMATION, PLEASE CONTACT:
North Bud Farms Inc.
Edward Miller
VP, IR & Communications
Office: (855) 628-3420 ext. 3
investors@northbud.com
- Published in Cannabis, Marijuana, Medical Marijuana, News Home, NorthBud