Zenith Energy (ZEN), the listed international energy production and development company, is pleased to announce that it has completed a private placement in Norway and a Debt Settlement. The Placement has attracted the participation of existing investors, as well three Directors, Mr. Andrea Cattaneo, Mr. Luca Benedetto and Mr. Sergey Borovskiy, respectively the Chief Executive Officer, Chief Financial Officer and a Non-Executive Director of the Company, to raise an aggregate total amount of approximately £2,888,000. The proceeds of the Placement will be used for general working capital purposes and to provide additional funding for any requirements that may arise in respect of the Company’s publicly announced international legal arbitrations against the Republic of Tunisia.
Comment: One of the best stock risers over the turn of the year, presumably something which caught many a market maker and bear out. While one has little sympathy for either party (of course), the first part of 2025 could see much more than a 5x rally should all the ZEN arbitration ships come in.
Coinsilium (AQSE:COIN) updated on its cryptocurrency treasury strategy, which includes significant developments within its Gibraltar-based subsidiary. As part of its strategic evolution, Nifty Labs Limited, the Company’s wholly owned Gibraltar subsidiary, will undergo a name change to Forza (Gibraltar) Limited. This change reflects its new role as a specialised vehicle for managing Coinsilium’s cryptocurrency treasury activities, with further developments to follow. It also reflects the Company’s commitment to enhancing the management of its crypto treasury holdings and by leveraging the emerging trends and opportunities within the digital asset market, the Company aims to ensure its treasury strategy remains robust and forward-thinking.
Comment: The market initially jumped well on news of COIN’s crypto treasure strategy, something which gives it an air of a Microstrategy in the making.
Sovereign Metals (SVML) advised that an updated investor presentation on the Optimised PFS is available to download from the Company’s website at https://sovereignmetals.com.au/presentations/.
Comment: Always on the front foot as far as the IR is concerned, we have more from SVML to reflect the constantly moving newsflow.
The London Tunnels Plc (Euronext: TLT), the Company founded to preserve and transform a former World War II tunnel complex (the Kingsway Exchange Tunnels) in the centre of London into a major tourist attraction, announced an update to the agreement it entered into with Exchange Tunnels Limited in 2023 to become the tenant of the Tunnels. The Company continues to raise equity financing to support the restoration and development of the Tunnels and has therefore appointed Oberon Capital to lead the equity raise, manage any roadshows, and engage with interested investors in the United Kingdom.
Comment: The best London Stock Exchange listing we never had (so far), especially as one can imagine Winston Churchill in Darkest Hour mode shuffling through the tunnels. One would expect London Tunnels will get the engagement and financing it deserves in London via Oberon.
Ananda Pharma (AQSE: ANA), a Company focused on the development of cannabinoid-based therapies for the treatment of a range of complex conditions, today announces the appointment of Viridian Capital Advisors with immediate effect. Viridian Capital Advisors (https://www.viridianca.com/) is a leading New York and Aspen-based advisory boutique specialising in the cannabis and CBD industries, and has a strong track record in advising companies, raising capital, and facilitating strategic growth in the sector. ANA said it was delighted to partner with Viridian Capital Advisors. Their proven track record in the cannabis sector and extensive network within the U.S. investment community will be invaluable as we build our profile in the U.S. market. The U.S. market is the largest for cannabinoid-based pharmaceuticals and offers a dynamic investment landscape well-suited to our goals.
Comment: Perhaps a rather more significant RNS than it first appears in that the market is now aware of the domestic potential of ANA, especially with the NHS. But it is obviously the prospect of international growth that Viridian could help deliver which could be a decent catalyst for ANA shares to start 2025.
Roquefort Therapeutics (ROQ), the Main Market listed biotech company, announced the signing of a binding SPA for the sale of its wholly owned subsidiary Lyramid Pty Ltd to Pleiades Pharma Limited for a consideration amount of US$10.8 million. This announcement follows the signing of a term sheet with Pleiades, as announced on 2 January 2025. ROQ through the sale of Lyramid we gain a material share in an exciting clinical portfolio being developed by a highly experienced team. This Transaction validates our strategy to develop novel programs and realise value through licensing and trade sales. Roquefort Therapeutics acquired Lyramid in 2021 for £1 million and has progressed the asset to a value of US$10.8 million in just over three years.
Comment: While the company has been given a degree of flack from those who clearly do not know what they are talking about and just have a psychotic personal vendetta against the management, those who are actually aware of what ROQ does, will know its ability to create value, a point that has been underlined in the near 10x jump in Lyramid illustrated today.
GreenRoc Strategic Materials (GROC), a company focused on the development of critical mineral projects in Greenland, announced that it has completed a placing and subscription to raise a total of £735,000 (before costs). The Fundraise comprises a significant placing of £500,000 from institutional investors, £165,000 from existing shareholders, £50,000 from largest shareholder Alba Mineral Resources Plc and £17,500 from directors of the Company. GROC said this fundraise allows us to move on with both the Amitsoq mine and our plans for the graphite anode materials plant. In addition to some technical advancements, we will also engage with a LCA consultant to help us document the savings in CO2 emissions associated with locating our AAM plant in the Nordic region.
Comment: Given that GROC is arguably operating in one of the more in demand jurisdictions in the world courtesy of Donald “Tariff” Trump, and that Greenland is soon to be part of the USA, raising cash now is certainly logical.
MicroSalt (SALT), a provider of full-flavour, natural salt with approximately 50% less sodium, is pleased to announce it has closed the oversubscribed fundraising of £2.3 million (c.US$2.9 million) through a subscription at the current market price of £0.70. SALT said the proceeds of the Subscription will be mainly used investing in inventory to satisfy expected B2B customer demand in 2025 from leading snack manufacturers, as well as general working capital purposes. The Company has received commitments for an additional 290 metric tonnes in bulk orders for 2025 and expects this to further increase as MicroSalt is rolled out over new product lines.
Comment: Here we have one of those growing pain type fundraises, ostensibly delivered to fulfil orders / demand. It is a shame the company cannot get more upfront payments for its multitude of orders.
Pulsar Helium Inc. (PLSR), a helium project development company, is pleased to announce the successful completion of drilling the Jetstream #2 appraisal well at its flagship Topaz Project in Minnesota, USA. The drilling operation reached Total Depth of 5,638 feet (1,718 metres) on February 1st, 2025, successfully penetrating the entire interpreted helium-bearing interval, and beyond. Elevated helium values were encountered in Jetstream #2 over a gross vertical thickness of 3,178 feet (969 metres) with samples containing up to 3.5% helium identified, despite dilution from atmospheric air due to the rotary air drilling method used. PLSR said drilling of the Jetstream #2 appraisal well and deepening of Jetstream #1 is now complete, both of which were a resounding success with multiple high-concentration helium shows encountered.
Comment: It will be interesting to see how the market reacts to the resounding success announced today, as shares of PLSR have been treading water ahead of the latest news. Being on the right side of 30p should be what we are now seeing here.
Mkango Resources (MKA) announce that it has closed a private placement to raise gross proceeds of £2,335,000 at a price per Subscription Share of 8 pence. The net proceeds of the Subscription, after fees, are £2,218,250 (approximately C$3.9 million). The Company intends to use the net proceeds of the Subscription to fund ongoing recycling development costs in Germany and the UK, and to fund ongoing corporate costs.
Comment: After such a brilliantly hosted webinar just a few weeks ago, it would have been rude for MKA not to raise fresh, something which it has raised at a decent price now.
EnSilica (ENSI), a leading chip maker of mixed signal ASICs (Application Specific Integrated Circuits), is pleased to announce that it has been awarded £10.38 million funding over the next three years from the UK Space Agency for a development project under its Connectivity in Low Earth Orbit.
Comment: The London market is rubbish on gauging tech and biotech. Therefore, one would hope that today’s news of non-dilutive funding for ENSI deserves to cause the shares to rocket – pun intended.
ECR Minerals (ECR), the exploration and development company focused on gold in Australia, provides an update on its operations. ECR said “I spent last week in Australia on a trip that covered Melbourne, our office in Bendigo and finally the Blue Mountain Project in Queensland. The latter was the stand out highlight. Over an extensive area with multiple gullies that are prospective for gold, ECR has an exciting opportunity to potentially commence production this year.”
Comment: After delivering a “surprise” £950k fundraise in November, it may take a little more than a travel update to get the stock back up towards the 0.4p plus level, where arguably it should be.
Ondine Biomedical Inc. (OBI), a Canadian life sciences company pioneering light-activated antimicrobial treatments, announced that The Pennycook Family Trust, controlled by Carolyn Cross, CEO, and Robert Cross, husband of Carolyn Cross, has purchased 100,000 shares in the Company at a price of 12.5 pence per Common Share on 31 January 2025. Following this transaction, Carolyn Cross and Robert Cross, directly and indirectly, hold 156,164,804 Common Shares representing 35.3284%% of the issued share capital of the Company.
Comment: With the business at a decent operational inflection point, and funding sorted, it is all the more re-assuring that management is happy to buy shares at current levels.
hVIVO (HVO), a fast-growing specialist contract research organisation (CRO) and world leader in testing infectious and respiratory disease products using human challenge clinical trials, announces that it has signed a contract with Inhalon Biopharma, Inc., a clinical-stage company advancing a first-in-class inhaled antibody platform for treating acute respiratory infections, to assess its inhaled IN-002 antiviral candidate using the hVIVO Respiratory Syncytial Virus (RSV) Human Challenge Model.
Comment: We are slowly seeing the market appreciated HVO as it should, after the autumn sell off. This has been achieved by a near term tsunami of deals announced, such as the one today.
