Tekcapital (TEK), the UK intellectual property investment group, announced that its recently formed subsidiary GenIP has completed its IPO on the AIM market of the London Stock Exchange plc, following which it is now 63% owned by Tekcapital. TEK said it was excited to announce the IPO of GenIP plc., a terrific new company that it thinks can make a positive impact by helping its customers bring new innovations to market. With a significantly compressed gestation period, this IPO has resulted in a significant return on invested capital for its shareholders. It is looking forward to hopefully delivering further impactful results in future transactions using Tekcapital’s accelerated incubation process.
Comment: Given the popularity, or rather lack of it, of its other spin offs, and TEK itself, it is perhaps surprising that we have a new IPO in GenIP. Nevertheless, the AIM market is so desperate for new IPOs, that even an IPO of Grim Reaper PLC would be welcome. At least the service providers get a new client, without having to do any extra sales and marketing work.
Coinsilium (AQSE: COIN), the Web3 investor, advisor, and venture builder is pleased to announce that it has entered into an agreement with Stabolut Limited, a decentralised, crypto-backed, and yield-generating stablecoin venture to provide strategic advisory services in support of Stabolut’s forthcoming stablecoin and governance token launch slated for launch in Q4 2024. COIN said that Stabolut brings an innovative solution to the stablecoin market, addressing key challenges such as centralisation and lack of transparency. It was most excited to collaborate with their talented team and to support their efforts in reshaping the future of decentralised finance.
Comment: COIN being involved in the launch of a new stablecoin is a big deal, given the amount of resources, both financial and otherwise that are required for this. We have further evidence that the company is taking things to the next level, with the Yellow connection notable here too.
Mosman Oil and Gas (MSMN) the helium, hydrogen and hydrocarbon exploration, development, and production company, announced that it has completed the sale of its interest in Nadsoilco LLC for a consideration of up to US$1.75 million. MSMN said it was pleased to deliver on its goal of commercialising the majority of its existing portfolio of oil and gas assets in the United States by this sale as it seeks to take advantage of compelling growth opportunities for Mosman in the helium sector. It sees great growth potential in helium, as demonstrated with its commitment and progress at EP 145 in Australia and the newly acquired interest in the Vecta Helium Project in USA.
Comment: It was obviously rather better to travel than arrive as far as the Nadsoilco sale, with the shares already knocked last month by the placing. It is all apparently now about helium.
ECR Minerals (ECR), the exploration and development company focused on gold in Australia, announced the issue of new ordinary shares in respect of the board of directors of ECR’s salary sacrifice scheme. ECR said that throughout the past financial year, the Board has adopted a policy of aligning itself with its shareholders and conserving the Company’s cash resources. As it passes through the first anniversary of these arrangements being implemented, it was pleased to say that the entire Board will continue to accept a majority of its remuneration in Ordinary Shares.
Comment: The hair shirt / bread and water approach is all very well. But perhaps just being better funded might be more appreciated by the market, rather than continually underlining that the money is tight.
Alkemy Capital Investments (ALK) announced its unaudited financial statements for the 6 months ended 31 July 2024. ALK said that building on the successful foundations laid by TVL, it will continue to explore new horizons in the battery minerals sector to encompass a range of critical battery minerals, positioning it as a diversified leader in the energy transition sector, however the immediate focus will remain on securing funding for TVL.
Comment: ALK is still looking for giant killing funding, and the kind of one plus one equals three deal, which by definition is difficult even in the best of markets.
Celadon Pharmaceuticals (CEL), a UK-based pharmaceutical company focused on the development, production and sale of breakthrough cannabis-based medicines, is pleased to announce it has signed a new five year sales contract with a newly established healthcare company for the supply of its medicinal cannabis product from its UK facility. The Contract has minimum order quantities with a value of up to £10.5 million over the five year term, with volumes increasing materially from year one to year three under the terms of the contract. The cultivation of the products for the minimum order volume for the first supply year of the Contract shall commence no later than 12 months from signing of the contract.
Comment: Clearly the contract is most welcome at this juncture. The question is whether it is too little, too late, especially with relation to the company’s stated cash crunch.
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