Sirona Biochem Signs Binding Term Sheet with Cosmetic Distributor in China
Momentum Public Relations
Press Release: October 9, 2019
Sirona Biochem Corp. (TSX-V: SBM) (FSE: ZSB) (US-OTC: SRBCF) (“Sirona“) announces that it has completed a binding term sheet with Tinyi Trading Company (“Tinyi”) for the distribution of its skin lightener TFC-1067 following strong commercial interest after clinical trial results. Tinyi will have distribution rights within Asia as well as exclusive rights for China.
Tinyi, founded in 2006, is a well-established cosmetic ingredient distributor headquartered in Guangzhou, the cosmetic valley in China. Tinyi has extensive experience operating in the cosmetic market and relationships with numerous key cosmetic companies. These relationships are necessary to capitalize on the enormous opportunity to commercialize TFC-1067 within Asia. Tinyi will also assist Sirona in navigating the regulatory requirements and all necessary steps towards commercialization, including formulation and marketing. Sirona will remain responsible for the manufacture of TFC-1067. Finalizing the cost of local manufacturing will provide necessary information to complete the definitive agreement with Tinyi which is anticipated to be completed in Q1/2020.
Tinyi was responsible for the clinical testing of TFC-1067 completed by a select group of its key cosmetic customers. The formulation used in the studies was the same as that used in Sirona’s first clinical trial in the USA by Dr. Zoe Draelos. The clinical trial design protocols and testing was conducted independently of Sirona by the cosmetic companies in Guangzhou, China.
A total of 60 participants were involved in the studies conducted over several sites. All participants applied the formulation with TFC-1067 twice daily for 4 weeks. At the completion of the 4-week study, 90% of participants reported a brightening effect. A second set of trials with Sirona’s improved formulation was also done which further demonstrated positive results and created a growing interest in using TFC-1067 in product lines.
TFC-1067 is a clinically proven safe and effective treatment to lighten areas of skin with increased pigmentation called dyschromia. The global skin lightening market is estimated to grow to US$31.2 billion by 20241. Asia makes up the largest and fastest growing segment of the market. A World Health Organization survey reported that nearly 40% of women polled in China said they regularly use whitening products, many of which are toxic2.
“We are excited to begin the process of entering the Asian market with Sirona’s clinically proven and safe skin lightener TFC-1067. Although there is still work ahead before commercial launch, we have established a clear path forward,” reports Dr. Howard Verrico, CEO of Sirona Biochem. “We are pleased to extend our presence within the Peoples Republic of China beyond our successful relationship with Wanbang Biopharmaceuticals for our diabetic drug TFC-039. We are steadily moving towards launching TFC-1067 in other territories in Asia in what is a global opportunity.”
About Tinyi Trading Company
Tinyi Trading Company, incorporated in 2006, has been primarily engaged in personal care industries, importing and distributing foreign raw materials for personal care, and providing various “beautiful solutions” in Asian markets. Its product portfolio covers emulgators, thickening stabilizers, emollients, surfactants, sun screening agents, preservatives, essence, and various active compounds. With over a decade of business in the industry, Tinyi has always endeavored to provide quick and efficient services, establishing itself as one of best distributors in the industry. Tinyi has a strong active sales and customer service team and has its own advanced R&D center including a 2,000 sqm warehouse located in Guangzhou, China.
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 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 https://www.factmr.com/report/309/skin-lightening-products-market |
SOURCE Sirona Biochem Corp.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/October2019/09/c4663.html
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
- Published in Life Sciences, News Home, Sirona Biochem
Crystal Lake receives court approval for Sassy deal
Momentum Public Relations
Press Release: October 7, 2019
CRYSTAL LAKE MINING CORPORATION ANNOUNCES COURT APPROVAL OF THE PLAN OF ARRANGEMENT, ADOPTION OF SHAREHOLDER RIGHTS PLAN AND NEW ARTICLES
Further to the news releases dated June 25, 2019, July 26, 2019, and Oct. 1, 2019, on Oct. 3, 2019, the Supreme Court of British Columbia approved the plan of arrangement among Crystal Lake Mining Corp., Sassy Resources Corp. and the shareholders of the company.
The share distribution record date and the share issuance date for the arrangement will be determined by the board of directors of Crystal Lake, and will be announced by a separate news release in advance. The arrangement also remains subject to the final approval of the TSX Venture Exchange.
Further to the news release of the company dated Oct. 1, 2019, the company also wishes to announce that at its last annual general and special meeting of shareholders on Sept. 30, 2019, the company has received a reapproval of the shareholder rights plan, which was originally adopted by the shareholders of the company on May 8, 2014. The company believes the adoption and the reapproval of the rights plan are in the best interests of the company to ensure that all shareholders of the company are treated fairly in connection with any potential takeover bid of the company. The rights plan is subject to the acceptance by the TSX Venture Exchange.
Further to the news release of the company dated Oct. 1, 2019, the company also wishes to announce that at the meeting, the shareholders approved the adoption of the new articles of the company. The new articles are subject to the acceptance by the TSX Venture Exchange.
About Crystal Lake Mining Corp.
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-per-cent interest in the Newmont Lake project, one of the largest land packages among juniors in the broader Eskay region in the heart of northwest British Columbia’s Golden Triangle.
- Published in Crystal Lake Mining, Mining, News Home
Crystal Lake Mining Announces Results of its Annual General Meeting and Special Meeting; Appoints Maurizio Napoli as CEO & Brian Moore as CFO
Momentum Public Relations
Press Release: October 1, 2019
Crystal Lake Mining Corporation (TSXV: CLM OTC: SIOCF FSE: SOG-FF) (“Crystal Lake” or the “Company“) is pleased to announce the results of voting of its Annual General and Special Meeting (the “Meeting“) of shareholders which was held at 11:00 am on September 30, 2019 in Vancouver, Canada.
All matters submitted to shareholders for approval as set out in the Company’s Notice of Meeting and Information Circular, (both dated August 23, 2019), were approved by the majority of votes cast at the Meeting with a total of 34,383,710 common shares (the “Shares“) representing 32.03% of the issued Shares of the Company represented at the Meeting. Details of the Meeting are provided below.
Appointment of Maurizio Napoli as CEO & President
The Company is pleased to announce that Mr. Maurizio Napoli has been appointed CEO and President of the Company. Maurizio (“Mars“) Napoli’s information and statement is added below.
Mr. Savage will remain as a member of the Company’s board of directors (the “Board“). The Company thanks him for his service as CEO and value he has brought to the Company which includes solidifying the acquisition of its Newmont Lake Project and for bringing in valuable and strategic shareholders to the Company. The Company looks forward to his continued support as a member of the Board.
Appointment of Brian Moore as CFO & Director
The Company is pleased to welcome Mr. Brian Moore as CFO and a director of the Company. Brian Moore’s information is added below.
He replaces Alphonse Ruggiero in the position who has stepped down as CFO of the Company. Mr. Ruggiero will remain as a member of the Board. The Company thanks him for his service while in the CFO position.
Number of Directors
- The number of Directors was set at five (5).
Election of Directors, Addition of new Director
- The director nominees were elected resulting in Lawrence Roulston, Wally Boguski, Richard Savage, Alphonse Ruggiero.
- The Chair informed that Mr. Dave Ellett stepped down as a nominee member of the Board before the Meeting and informed that Mr. Brian Moore was nominated as a director of the Company. The Company wishes to thank Mr. Ellett for his service as a member of the Company’s Board.
Appointment of Auditors
- Davidson & Company LLP, Chartered Accountants were re-appointed as auditors of the Company.
Stock Option Plan
- 97.86% voted in favour of the adoption of a new 10% rolling stock option plan.
Re-pricing of Stock Options
- 97.66% voted in favour of the re-pricing of previously granted stock options to insiders of the Company.
Plan of Arrangement Resolution
- 98.85% voted in favour of the special resolution with respect to the Plan of Arrangement, which involves the distribution of common shares of Sassy Resources Corporation to the shareholders of the Company.
Maurizio Napoli (CEO & President) Information
Maurizio Napoli completed H.BSc. and M.Sc. degrees at Laurentian University. He worked for 2 years with the Ministry of Northern Development and Mines mapping the numerous gold occurrences in the Fox Lake Belt near Whitefish Ontario. He continued his career with Inco, IncoGold and Vale exploring for magmatic nickel-copper sulphides globally, gold in the Abitibi Greenstone Belt and uranium in New Brunswick. He retired as an Exploration Manager from Vale in 2016.
Maurizio Napoli, CEO & President stated, “Crystal Lake’s Newmont Lake Project, is a multi-focused high-grade gold, silver, copper and other strategic metals project, along the western flank of the Eskay Rift in NW BC, in the heart of the Golden Triangle. The Company’s first season of developing the Project has delineated three exciting target areas for the Company and its shareholders including the Newmont Lake Gold Corridor, Burgundy Ridge & 72 Zone and the Chachi Corridor. Numerous exciting results are forthcoming from all three zones. On behalf of our whole team I’d like to thank everyone for the patience and support given to us which allowed us to complete one of the largest junior exploration programs in the Golden Triangle this season.”
Brian Moore (Director & CFO) Information
Brian Moore has been providing taxation, accounting, and business advisory services since 1979, establishing his own firm in 1986. His Partner Paul Turner and Brian co-founded TurnerMoore LLP in 1994. Their firm is committed to helping business operators and entrepreneurs in building and maintaining enterprises from start-up, growth and succession.
Brian is an active volunteer in his community, and over the past thirty years has served on carious not-for-profit boards and in political organizations. He is a past Governor of CGA Ontario, past member of committees for both CGA Ontario and CGA Canada, and currently serves as a Practice Inspector for CGA Ontario. In 2009, CGA Canada awarded Brian the Fellowship designation (FCGA) in recognition of his contributions to CGA and the accounting profession.
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, one of the largest land packages 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.
“Maurizio Napoli”
President & CEO
Email: info@crystallakemining.com
SOURCE Crystal Lake Mining Corporation
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/October2019/01/c3789.html
- Published in Crystal Lake Mining, Mining, News Home
Silver Spruce Begins Melchett Lake Due Diligence Field Program
Momentum Public Relations
Press Release: October 1, 2019
Silver Spruce Resources Inc. (TSXV:SSE)(Frankfort:S6Q1) (“Silver Spruce” or the “Company”) is pleased to announce that it has completed field crew preparation and due diligence plans for the Melchett Lake Zn-Au-Ag volcanogenic massive sulphide (“VMS”) project, an advanced precious and base metal project in the Thunder Bay Mining District, northern Ontario, Canada. Mobilization to the Property by air from Nakina is scheduled in the first week of October 2019 for a ten-day field program focusing on the known targets with drill core and surface exposures.
“We are very pleased to begin management site visits, target exploration and data verification on the Melchett Lake VMS-Au Property to support a decision to earn a 100% interest in the project,” stated Karl Boltz, CEO of Silver Spruce. “We look forward to building our Leapfrog GIS database with all available geophysical and geological information leading to drill target identification. Director, Greg Davison, MSc, PGeo, who worked the Melchett Lake area as Project Manager and VP Exploration for Kerr Addison Mines (1983-1984) and Tribute Minerals (1999-2002), respectively, will lead the management visit to the Property.”
Letter of Intent
The principal terms to purchase 100% interest in the Property include CAD$150,000 in cash payments and CAD$250,000 in Silver Spruce common shares with minimum work expenditures of CAD$1,000,000 prior to the third anniversary.
Melchett Lake Property
The 1,820-hectare project is located within an active exploration and mining region north of Geraldton including Copper Lake’s Marshall Lake VMS project, Premier Gold’s Hardrock-Greenstone Au mine and past-producing Anaconda-Dofasco iron mine and the Skibi Lake and Stewart Lake iron prospects.
The Melchett Lake Property consists of 89 single cell mineral claims and two multi-cell mineral claims located in Thunder Bay Mining District of northwestern Ontario, Canada. The Property lies 110 km north of Geraldton and 60 km north of Nakina at 50°45′ north latitude and 86°59′ west longitude.
Due Diligence and Exploration Plans
Field work for the due diligence and an update to the NI 43-101 technical reporting by the independent Qualified Person (“QP”) are planned over the next month and will coordinate ground truthing of geochemical and geophysical targets, geological sampling and data verification on known occurrences, GPS location surveys of the historical drill collars, and preservation and sampling of the diamond drill core stored on the Property.
The advanced condition of the Melchett Lake project compels the Company to focus resources on updating and compiling the geochemical and geological survey data and diamond drilling logs, and acquiring and analysing historical airborne and downhole digital geophysical data to compile our GIS database and identify high priority drilling targets on the Property.
Ontario Ministry of Energy, Northern Development and Mines work permits are in place for geological sampling work, stripping, trenching and diamond drilling (>20 pads).
The Property is accessible via ski or float equipped aircraft from Nakina or Jellicoe to Kapikotongwa Lake, Melchett Lake or Relf Lake. Road access is available from Geraldton and Nakina to the northwest on paved and unpaved roads along the past principal route to the Anaconda/Dofasco iron mine and near the proposed all-season road northeast to Marten Falls, to boat launch points and helicopter staging areas on the south end of Melchett Lake, within five to eight kilometres of the Property.
Geology
The Melchett Lake property is located within the English River Sub-province of the Superior Province as part of the Melchett metasedimentary-metavolcanic belt. The metavolcanics are comprised of mafic to felsic pyroclastics, tuffs and flows with metasediments and iron formation all of which have been metamorphosed to amphibolite grade. The general sequence includes basalts overlain by felsic metavolcanics and associated clastic and chemical metasediments showing a near-vertical dip, steep ENE lineation in a tightly folded sequence of schists and gneisses.
Mineralization
The Melchett Lake belt contains several occurrences of polymetallic Zn- Pb-Cu-Ag-Au VMS style mineralization similar in character to ore deposits exploited at Mattabi, Winston Lake, Geco, Brunswick, Rouyn-Noranda and Uchi Lake. Base metal mineralization consisting of pyrite, sphalerite, chalcopyrite and galena occurs within the felsic metavolcanic sequences of the Property. There are locally high-grade lenses of Zn & Ag with variable Cu, Au and Pb, and historical gold grades to 28.8 g/t Au, silver grades to 560 g/t Ag and zinc grades to 19.1%.
The mineralization is interpreted to occur as paleo-topographic accumulations related to fumarolic activity forming polymetallic deposits overprinted by a later stage gold-rich event.
Highlights of the prospective geology, alteration and mineralization are as follows:
- Three known centres of coincident alteration and metal mineralization
- Multiple stratigraphic horizons
- Distal and stacked proximal sulphides
- High Zn/Cu, Zn/Pb, Ag/Au
- Extensive remobilization of major and trace elements
- Sericite-quartz-cordierite-chlorite alteration zone
- Broad phyllic-pyrite zones
- Intense Na depletion with elevated Zn
- Ca and Sr depletion with elevated Zn
- Fe, Mg, Co, Cr, Cd enrichment within and below mineralization
- Continuity of alteration and anomalous Zn over large intervals in core drilling
- Extensive alteration haloes analogous to world class zinc deposits
Historical Precious and Base Metal Assays
Selected grab samples taken from the Relf Zone by Shawmin averaged 13.0% zinc (Zn), 1.2% lead (Pb), 0.26% copper (Cu) and 325g/t silver (Ag); best results received were 19.1% Zn, 2.2% Pb, 0.40% Cu, 565g/t Ag and 1.72g/t gold (Au).
A selection of Relf Zone samples collected in 1984 by Kerr Addison geologist and current Silver Spruce director G. Davison is shown below.
Sample No. |
Zinc % |
Lead % |
Copper % |
Silver g/t |
1061 |
12.90 |
1.920 |
0.288 |
552 |
1064 |
11.60 |
0.866 |
0.507 |
278 |
1065 |
16.80 |
2.400 |
0.075 |
655 |
1066 |
8.26 |
0.330 |
0.972 |
170 |
1067 |
11.10 |
1.300 |
0.142 |
394 |
1068 |
9.88 |
0.558 |
0.154 |
179 |
At the Nakina l Zone, Nakina Mines reported, in separate samples, 14.85% Zn and 28.8g/t Au from a pyritized felsic volcanic unit. Rock sampling of a pyritized felsic volcanic unit in the Nakina 2 Zone by Kerr Addison returned a value of 15.08 g/t Au.
All of the above metal values were reported by past operators in the Melchett Lake area, from grab samples which may not be representative of the metal grades, and are historical in nature.
Qualified Person
Greg Davison, MSc, PGeo and Silver Spruce Director, is the Company’s internal Qualified Person for the Melchett Lake Project and is responsible for the technical content of this press release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”), under TSX guidelines. Mr. Davison worked the Melchett Lake area as Project manager and VP Exploration for Kerr Addison Mines (1983 and 1984) and Tribute Minerals (1999 to 2002), respectively.
About Silver Spruce Resources Inc.
Silver Spruce Resources Inc. is a Canadian junior exploration company pursuing development of the Pino De Plata project in western Chihuahua State, Mexico. The Company has signed a binding Letter of Intent to acquire 100% of the Melchett Lake Zn-Au-Ag project in northern Ontario, Canada and a binding Letter of Agreement to acquire 100% of the advanced Cocula gold project in Jalisco State, Mexico. Silver Spruce Resources Inc. continues to investigate opportunities that Management has identified or that have been presented to the Company for consideration.
Neither 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. The company seeks Safe Harbour.
Contact:
Silver Spruce Resources Inc.
Karl Boltz, President/CEO/Director
(866) 641-3397
info@silverspruceresources.com
www.silverspruceresources.com
SOURCE: Silver Spruce Resources Inc.
- Published in Mining, News Home, Silver Spruce Resources