Chill Brands Group (CHLL), the consumer packaged-goods distribution company, announced that it has received an initial order for its Chill ZERO nicotine-free vapour products from the UK’s largest category-specific distributor. CHLL said it was thrilled that its Chill ZERO range of nicotine-free vapes will be carried by Flawless, who are a dominant force in the UK vaping industry. This is another vote of confidence in its product range and it looks forward to demonstrating that Chill ZERO is a serious challenger in the buoyant vape market.
Comment: Chill is keeping the momentum going in terms of building distribution for its vapes. Shareholders will be on the edge of their seats waiting on sales numbers as a result of this.
Tekcapital (TEK), the UK intellectual property investment group announces that Innovative Eyewear, Inc. (NASDAQ: LUCY; LUCYW), the developer of ChatGPT smart eyewear under the Lucyd®, Nautica®, Eddie Bauer® and Reebok® brands, launched a new edition of the Company’s patent-pending Lucyd Dock product for its smart eyewear. LUCY said it is closer than ever to its goal of the world’s most user-friendly smartglasses with the launch of the Lucyd Dock 2.0. It is confident its customers will enjoy using the Dock to keep their various devices charged and their cables more neatly organized.
Comment: With shares of Tekcapital near their years lows, one would imagine that the company needs to steer a new angle in terms of presenting itself to investors and the market.
Reabold Resources (RBD), the oil & gas investing company, announced that it has agreed to increase its interest in LNEnergy Limited by 0.8% through a partial exercise of the Second Option, whereby the Company has subscribed for 11 new ordinary shares in LNEnergy’s share capital for a cash consideration of £150,000. The company said it was delighted once again to be able to further increase its interest in LNEnergy, and therefore its exposure to the Colle Santo gas project. Colle Santo holds significant gas reserves and can be a valuable source of domestic energy supply for Italy.
Comment: While there have been certain distractions for RBD in recent weeks, it is notable that the company continues to go forward with its overall investment strategy.
Parkmead (PMG), the independent energy group focused on growth through gas, oil and renewable energy projects, reported its preliminary results for the year ended 30 June 2023. Revenues increased by 22% to £14.77 million (2022: £12.13 million). Gross profit increased to £12.5 million (2022: £10.8 million). PMG said it was pleased to report Parkmead’s results for the financial year to 30 June 2023. We have achieved increased revenues and cash flow, whilst ensuring the Company is forging ahead with new growth opportunities.
Comment: Given the post Ukraine energy security nightmare, it is no surprise that PMG has been on fire in terms of its fundamentals. But of course to date this has not been reflected as far as the share price.
Jersey Oil & Gas (JOG), an independent upstream oil and gas company, announced that the owners of the Buchan field licences, JOG and NEO Energy, have executed agreements to acquire the “Western Isles” floating production, storage and offloading vessel. The FPSO will be used as the processing facility for the planned redevelopment of the Buchan field. JOG said finalising the terms for the joint venture partners to acquire the FPSO, which is less than eight years old and requires relatively modest adaptation for its planned GBA redevelopment, is a tremendous milestone for the project.
Comment: Shares of JOG have been in something of a holding pattern for the latter part of the year, ideally today’s news means that this impasse will be resolved to the upside.