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Patriot Battery Metals starts ASX dual listing process

Patriot Battery Metals
Patriot Battery Metals

Patriot Battery Metals Inc announced that it has commenced the process to dual list on the Australian Securities Exchange (ASX).

In a statement, Patriot said it already has a strong number of shareholders based out of Australia on its register so it is the logical next step for the company to provider greater ease of access to existing and new investors

The company also believes the ASX listing will position the company better in the Australian market, which has many well established lithium companies listed on ASX with hard rock lithium projects in Canada.




“The company will provide further update as we progress this process as there is no guarantee the company will be granted approval to list on ASX,” according to the announcement.

Patriot Battery Metals Inc. is a mineral exploration company focused on the acquisition and development of mineral properties containing battery, base, and precious metals.

The company’s flagship asset is the Corvette Property, which includes the wholly owned 213 sq kilometer of claim blocks located in the James Bay Region of Québec.




The land package hosts significant lithium potential highlighted by the CV5-6 spodumene pegmatite with drill intercepts of 0.94% Li 2O and 117 ppm Ta2O 5 over 155.1 m (CF21-002), and 1.25% Li2O and 194 ppm Ta 2O 5 over 58.1 m at (CF21-003).

The total strike length of the lithium trend is over 50km with a number of lithium bearing pegmatite outcrops identified throughout this trend yet to be drill tested. – BusinessNewsCanada.com

Global wellness platform Yooma acquires UK’s Vitality CBD for C$17.7m

Yooma Wellness

Global vertically integrated wellness platform Yooma Wellness announced that it has acquired UK-based Vitality CBD Limited for up to C$17.7 million through its wholly-owned subsidiary Yooma Europe Ltd.

The acquisition adds a significant source of recurring revenue to Yooma and its subsidiaries through Vitality’s presence at mainstream retail outlets such as Boots, Lloyds Pharmacy, Tesco and ASDA, as well as expanding Yooma’s target customer base and distribution network for its existing European-focused brands, including MYO Plant Nutrition.

This is Yooma’s first transaction since it completed the dual-listing of its shares on the AQSE Growth Market in London earlier this month and is part of the Company’s plan to build the world’s largest CBD and wellness business.




“Completing the acquisition of Vitality is the first step of the strategic plan the Company outlined to investors at the time of our UK financing and dual-listing – to buy and build companies globally, focused on materially increasing the Company’s top-line revenue, leveraging Yooma’s integrated supply chain to drive margin growth, and expanding distribution for the existing product portfolio,” said Yooma Chairman Lorne Abony.

“This acquisition will help accelerate our growth by exporting these branded products to other Yooma jurisdictions and integrating with our MYO Plant Nutrition operations and distribution. Vitality is a market leader in the UK with presence in major retail outlets such as Boots, ASDA and Lloyds Pharmacy and we look forward to working with the team at Vitality.”

Nikhil Nathwani, Co-founder and Managing Director commented on the acquisition, “The whole Vitality CBD team is excited to be joining the Yooma group. CBD is a growing industry not only in the UK but globally, and the acquisition positions us nicely to be able to continue to expand and grow the business.”




In the six-month period ended June 30, 2021, Vitality had gross turnover of £1.6 million (CAD $2.78 million) and EBITDA of approximately £0.3 million (CAD $0.52 million). The company plans to capitalize on the synergies of working with Yooma and focus on growing revenue and margin throughout the rest of 2021, as well as expanding distribution to other European and international markets. – BusinessNewsCanada.com

 

HEXO Corp. announces US$140M public offering

HEXO
Photo by Vladimir Solomianyi on Unsplash

HEXO Corp (TSX: HEXO; NYSE: HEXO) announced the pricing of its previously announced overnight marketed public offering of units of the company.

The underwriters for the Offering have agreed to purchase 47,457,628 Units at a price of US$2.95 per Unit for total gross proceeds to the Company of approximately US$140 million, before deducting underwriting commissions and Offering expenses.

Each Unit will be comprised of one common share of the Company (a “Common Share”) and one half of one common share purchase warrant of the Company (each full common share purchase warrant, a “Warrant”). Each Warrant will be exercisable to acquire one common share of the Company (a “Warrant Share”) for a period of five years following the closing date of the Offering at an exercise price of US$3.45 per Warrant Share, subject to adjustment in certain events.




A.G.P./Alliance Global Partners and Cantor Fitzgerald Canada Corporation are acting as lead underwriters and joint bookrunners for the Offering, together with ATB Capital Markets Inc. which is acting as co-manager for the Offering.

In addition, the Company has granted to the underwriters a 30-day option to purchase up to an additional 7,118,644 Units offered in the Offering on the same terms and conditions.

The Company expects to use the net proceeds from the Offering to satisfy a portion of the cash component of the purchase price payable to the Redecan shareholders on closing of the Redecan acquisition and for expenditures in relation to the Company’s U.S. expansion plans. The Offering is expected to close on or about August 24, 2021 and will be subject to market and other customary conditions, including approval of the Toronto Stock Exchange.




The Offering is being made pursuant to a prospectus supplement (the “Prospectus Supplement”) to the Company’s amended and restated short form base shelf prospectus dated May 25, 2021 (the “Base Shelf Prospectus”) to be filed with the securities commissions or similar securities regulatory authorities in each of the provinces and territories of Canada, and with the U.S. Securities and Exchange Commission (the “SEC”) as part of the Company’s registration statement on Form F-10 (the “Registration Statement”) under the U.S./Canada Multijurisdictional Disclosure System. – BusinessNewsCanada.com

Flair Airlines sets up new base in Edmonton, adds 4 US destinations

Flair Airlines
Flair Airlines

Flair Airlines, Canada’s only independent ultra-low-cost carrier (ULCC), announced a new base at Edmonton International Airport and expansion of service that will bring 4 new non-stop US destinations and additional jobs to the Edmonton area.

The Edmonton-based airline continues to strengthen its role in the economic recovery by providing more competition and low fares to stimulate demand in the travel and tourism sector. The new Edmonton-US routes will start this Fall and include non-stop service to Las Vegas, Phoenix, Palm Springs and Hollywood Burbank. Flair is also expanding its domestic network from Edmonton. In addition to existing winter service to Kitchener-Waterloo, Vancouver, Abbotsford and Toronto, Flair is expanding its current summer service from Kelowna and Victoria to extend throughout the winter season.




“Our relationship with Edmonton International Airport will continue to provide benefits to Albertans as our low fares make travel accessible and affordable for everyone. Albertans have been paying way too much for air travel and Flair is here to change that. Having our new 737-8 aircraft and our team members based in Edmonton provides a unique advantage to Flair as we can continue our efficient growth and keep our costs down and our fares low,” says Stephen Jones, President and CEO, Flair Airlines.

The 4 new non-stop US destinations served through Edmonton will operate beginning in December and will extend through spring of 2022. The first US flights will begin December 16th to Las Vegas and Hollywood-Burbank, with other routes starting later that week. Flair will offer 2 flights per week to Phoenix, Palm Springs, and Hollywood-Burbank and 3 flights per week to Las Vegas with fares as low as $99 one way. For more details visit flyflair.com.

“Flair Airlines continues to be a strong partner for our airport. Basing aircraft and crew in Edmonton demonstrates the company’s ongoing commitment to our region. In addition, these new US destinations will be popular non-stop routes as we rebuild our network. Thank you for your long-term commitment to EIA,” says Tom Ruth, President and CEO, Edmonton International Airport.

​Malcolm Bruce, CEO, Edmonton Global, states, “Flair Airlines’ ongoing investments are a vote of confidence for our region and our business community. These flights will unlock opportunities for businesses across our region, as well as maintain important connections into the United States. Rebuilding air service is a key part of our strategy to drive the economic recovery of the Edmonton Metropolitan Region. Thank you, Flair, for your investment in our region and your continued leadership in our community.”

Flair will base an aircraft and flight crews in Edmonton starting in December. Between direct and indirect employment, Flair estimates 50 new jobs being created in addition to the 75 operations and business staff already headquartered in Edmonton.




The new US destinations join the 7 Canadian destinations Flair currently offers service to in Edmonton. From Edmonton, Flair provides service to Abbotsford, Kelowna, Kitchener-Waterloo, Ottawa, Toronto, Vancouver and Victoria.

Flair is succeeding amid an ambitious goal to grow to 50 aircraft in 5 years. The airline is rapidly expanding to bring ULCC service to Canadians. In 2021, Flair has grown its network to serve 20 Canadian destinations and has already announced service to 6 US destinations later this year. Flair intends to disrupt the Canadian aviation market and bring long over-due competition and low prices to Canadians. – BusinessNewsCanada.com

Cannabis firm Aleafia Health Announces Closing of $22.7m Bought Deal

Aleafia Health

Aleafia Health, a vertically integrated and federally licensed Canadian cannabis company, announced that it has closed its previously announced bought deal offering for a total issuance of 27,390,000 units of the company at a price per Unit of $0.83 for gross proceeds of $22.7 million.

The offering was led by Cantor Fitzgerald Canada Corporation, as lead underwriter and sole bookrunner, on behalf of a syndicate of underwriters including Echelon Wealth Partners Inc. and Mackie Research Capital Corp.

Each unit consists of one common share in the capital of the company (a “Common Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”).




Each warrant entitles the holder thereof to purchase one Common Share at an exercise price of $1.05, for a period of 24 months following the closing of the Offering.

The Company intends to use the net proceeds of the Offering for growth opportunities and working capital initiatives.

It is expected that the Warrants issued in connection with the Offering will commence trading on the Toronto Stock Exchange (the “TSX”) on the date hereof under the symbol “AH.WT.B”.

The Offering is subject to final acceptance of the TSX.

Aleafia HealthAleafia Health is a vertically integrated and federally licensed Canadian cannabis company offering cannabis health and wellness services and products in Canada and in international markets.

The Company operates medical clinics, education centres, and production facilities for the production and sale of cannabis.

Aleafia Health owns four significant licensed cannabis production facilities, including the first large-scale, legal outdoor cultivation facility in Canadian history.

The Company produces a diverse portfolio of commercially proven, high-margin derivative products including oils, capsules, edibles, sublingual strips, and vapes.




Aleafia Health operates the largest national network of medical cannabis clinics and education centres staffed by MDs, nurse practitioners, and educators and operates internationally in three continents. – BusinessNewsCanada.com

Cache Exploration Acquiring Gold Mine in Russia

Cache Exploration
Image: Cache Exploration

Cache Exploration Inc, a gold-focused firm that holds and operates the Kiyuk Lake Property, has announced the execution of a Letter of Intent (LoI) with the Artemovsky Rudnik Joint Stock Company to acquire ownership of the previously mined Lysogorskoye Gold Deposit in southern Krasnoyarks region, Russia.

Cache said it is preparing to conduct the necessary due diligence on the project.

Artemovsky Rudnik JSC has 100 per cent interest in the Lysogorskoye Gold Deposit. The shareholders of Artemovsky Rudnik JSC shall be issued shares of Cache Explorations and cash based on the value that both parties agree upon following the due diligence period.




The company has until April 30, 2021 to complete due diligence on the Project and sign a Definitive Agreement, The Definitive Agreement is subject to TSX Venture approval and any other approvals to complete this agreement.

Either party may terminate the Letter of Intent within 10 business days following the completion of its due diligence.

Jack Bal, CEO of Cache Exploration Inc. States “We are extremely excited to commence due diligence on the Lysogorskoye Gold Deposit. Cache Exploration has been looking for production opportunities around the world to add shareholder value. We feel Lysogorskoye gives us the ability to become a producer in the near term”.

All technical data on the Lysogorskoye Gold Deposit has been supplied by the vendor and has not been independently verified by a qualified person.




The Lysogorskoye Gold Deposit, located in the Kuragino district of Krasnoyarsk, comprises a formerly operated underground gold mine within a 5.34 km2 license area located 2.5 km west of the Abakan- Taishet rail network, with access to the area power transmission grid, good roads, and a local population of skilled people.

The Vendor has held the license since August, 2017. The project may present an opportunity for rapid recommissioning for the production gold dore. – BusinessNewsCanada.com

HPS Investing C$219m in Canaccord Genuity’s UK Arm

Canaccord Genuity
Photo by Vladimir Solomyani on Unsplash

Global investment firm HPS Investment Partners is investing about C$219 million in the UK wealth management division of TSX-listed financial services firm Canaccord Genuity Group.

In a statement, Canaccord (TSX:CF) said HPS will acquire convertible preferred shares to be issued by Canaccord Genuity Wealth Group Holdings (CGWM UK), the parent company of Canaccord’s wealth management operating subsidiaries in the UK, the Channel Islands, and the Isle of Man.

The net cash proceeds from the sale of the convertible preferred shares of approximately £120 million (C$210 million) will be distributed by CGWM UK to Cannacord and used by the company for corporate purposes to optimize shareholder value.

“Partnering with HPS provides us with an opportunity to build upon the exceptional growth that our UK wealth management business has achieved under David Esfandi’s leadership,” said Dan Daviau, President & CEO of Canaccord Genuity Group Inc.

HPS is a leading global investment firm that seeks to provide creative capital solutions and generate attractive risk-adjusted returns for its clients. HPS has over US$68 billion of assets under management invested in both large and small companies across a variety of industries and sectors.

“There will be no changes to the management or operations of CGWM UK as we continue to seek to expand and grow that business through both internal development and acquisitions,” the company added.

Cumulative Dividends Payable by CGWM UK

The principal value of the Convertible Preferred Shares is £125 million (C$219 million). On an as converted basis the Convertible Preferred Shares represent a 21.93 per cent equity interest in CGWM UK.

Cumulative dividends are payable by CGWM UK on the Convertible Preferred Shares at the greater of an annual 7.5 per cent coupon and the proportionate share that such shares would receive, on an as converted basis, in respect of dividends paid to the Company by CGWM UK.

Completion of the transaction will require the approval of the UK Financial Conduct Authority and each of the Financial Services Commissions/Authorities of Jersey, Guernsey, and the Isle of Man, and is
expected to occur in the first quarter of Company’s fiscal year. – BusinessNewsCanada.com

Cannabis Firm 1933 Industries Announces Sales Milestone for January

1933 Industries

1933 Industries (CSE:TGIF), a vertically integrated cannabis consumer packaged goods company, announced that its total sales and orders reached CAD$1.4 million in January 2021.

The company said its cultivation subsidiary, Alternative Medicine Association (AMA), also recorded its strongest monthly sales to date since launching its AMA branded cannabis flower and pre-rolls in late August 2020.

The latest sales figure is a significant milestone for 1933 Industries as it continues to scale up production from its state-of-the-art Las Vegas cultivation facility. The company expects to generate increased revenues and improved margins with higher volume, quality, and consistency of saleable flower and biomass produced.




AMA now boasts a robust genetic bank of 37 in-demand, premium craft flower strains, a best in class, scalable cultivation facility with no new capital deployment, and improved overall output.

In addition, AMA will be launching three new pre-roll multipacks and one gram flower jars to its current portfolio of 161 AMA branded SKUs, as well as certain strains that have tested high for the cannabinoid CBGa, currently being studied for multiple medical applications.

“At AMA, excellence in cultivation, production, quality, and safety are at the core of what we do. Our seed to sale craft-style grow permeates the entire operation, from cultivation and harvest to hand trimming and input material for our high-purity, ultra-refined concentrates,” said Ryan George, Director of Cultivation.

1933 Industries is a vertically-integrated, growth-orientated company, focusing on the cultivation and manufacturing of cannabis consumer branded goods in a wide range of product formats.

Operating through two subsidiaries, the company controls all aspects of the value chain with cultivation, extraction, processing, and manufacturing assets supporting its diversified portfolio of cannabis brands and licensing partners.

The company owns 91 per cent of AMA and 100 per cent of Infused MFG.




On the other hand, AMA is a licensed medical and adult-use cannabis cultivation and extraction subsidiary that produces its own branded line of unique cannabis products and manufactures third-party brands.

AMA’s extensive menu of cannabis products include: craft cannabis flower, prerolls, full spectrum oils, high-quality distillates, proprietary blends of terpenes, vaporizer products, and boutique concentrates such as shatter, crumble, batter, sugar wax, diamonds, and live resin. – BusinessNewsCanada.com

Aberdeen International To Acquire 41.67% Stake in AES-100

Aberdeen International
Photo by Sebastian Stam on Unsplash

Aberdeen International Inc (TSX: AAB) announced that it has entered into a definitive agreement to acquire 41.67 per cent of AES-100 Inc.

AES-100 Inc. has acquired exclusive rights and all intellectual property pertaining to T2M Global’s Advanced Electrolyzer System for the production of hydrogen from dilute syngas.

T2M Global is the world’s leader in clean energy technology using hydrogen with zero carbon footprint and no greenhouse gas emissions. The technology is revolutionzing the use of fuel cells for transportation and is expected to be a major contributor to the world wide goal of zero carbon footprint by 2050, as recommended by the Paris Accord on Greenhouse Gas emissions.

“Greenhouse gases are the single major cause of pollution and planet global warming. Today the world produces over 27 billion tons of greenhouse gases per year. With the world’s population expected to grow to 10 billion by 2050, reduction of greenhouse gases and producing a clean energy footprint is critical to the survival of mankind”, said Stan Bharti, President and CEO of Aberdeen.




The Advanced Electrolyzer System (AES) is a world-class system created by T2M Global and assigned to AES-100 Inc. Its proprietary technology allows for much lower cost production of hydrogen with no greenhouse gas emissions.

AES is the only technology capable of producing high purity green hydrogen at highly competitive costs. AES targets <$5/kg H2, a significant and material improvement from the $10-15/kg H2 levels currently in the marketplace.

This significant cost savings through AES should accelerate the adoption of hydrogen technology and promote growth of fuel cell vehicle and renewable energy sectors.

Pinakin Patel, co-founder of T2M Global commented, “Currently dilute syngas is mostly wasted or underutilized because it is too expensive to upgrade to higher value hydrogen. AES converts this wasted resource to a profit center. AES is a highly modular technology for deployment in multiple market segments and phase capacity addition.. Preliminary estimates for the worldwide dilute syngas hydrogen market show it is valued at well over $50B/yr. Our world-class AES technology provides a foundation to capture a large portion of this market.”

T2M Global has put together a team of world-renowned experts in the hydrogen industry with over 300 years of relevant experience. This includes technology development, modular design for manufacturing and commercialization in multiple markets.




The team’s experience in market responsive product development, cost reduction, and service agreements will be available to AES-100 Inc. as it advances the AES technology. – BusinessNewsCanada.com