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TheNewswire – 20 August 2021 – Altus Strategies Plc (AIM:ALS) (TSXV:ALTS) (OTC:ALTUF) announces that it has published its unaudited financial results…

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TheNewswire - 20 August 2021 - Altus Strategies Plc (AIM:ALS) (TSXV:ALTS) (OTC:ALTUF) announces that it has published its unaudited financial results and its Management’s Discussion & Analysis for the three-month and six-month periods ending 30 June 2021. These documents have been posted on the Company’s website at www.altus-strategies.com/investors/financials/ and are also available on SEDAR at www.sedar.com.

 

HIGHLIGHTS

Highlights for the three months ended 30 June 2021 are as follows:

 

Operational highlights:

  • - Commencement of 17,500m Reverse Circulation (“RC”) and Air Core (“AC”) drilling programme at Diba gold project in western Mali

    - Grant of three new projects, as well as exploration licences adjacent to existing projects, totalling 221km2 in Morocco

    - Ground magnetic and soil sampling surveys at Tabakorole gold project in southern Mali have defined numerous additional targets

 

Corporate highlights:

  • - Appointments to the senior management team, strengthening the Company’s corporate and technical capabilities across its key areas of operation:

    • - Amilha Young as Company Secretary and Legal Counsel (UK);

      - Boubacar Thera as Corporate Manager (Mali); and

      - David Hall as Strategic Advisor (Egypt)

 

Financial highlights:

  • - Cash balance of £10.8m / C$18.5m as at 30 June 2021

    - Cash outflow for operating activities of £1.2m / C$2.1m for six months ending 30 June 2021

    - Balance of listed equity holdings of £2.0m / C$3.5m as at 30 June 2021

 

Post period:

  • - Agreement signed to acquire an effective 0.418% net smelter return (“NSR”) royalty on Caserones Copper Mine (“Caserones”) in northern Chile for US$34.1 million, expected to generate annual cash flow of US$3.2 million (post-tax) to Altus

    - Strategic 50:50 partnership with NYSE American and TSX-V listed EMX Royalty Corp. (“EMX”) via a Chilean special purpose vehicle (“SPV”) holding a combined effective 0.836% NSR interest in Caserones

    - US$29 million acquisition loan facility provided by a wholly-owned subsidiary of La Mancha Fund SCSp (“La Mancha”)

    - Initial results from RC drilling at the Diba gold deposit in western Mali, including 8.50 g/t gold (“Au”) over 24m from 20m (including 26.45 g/t Au over 7m) and 2.54 g/t Au over 30m from 36m (results are down-the-hole and not true widths)

    - Discovery of high-grade copper and silver from reconnaissance exploration at recently granted Azrar, Izougza and Tata projects in Morocco

    - Significant increase in landholding at Tabakorole (by 100km2 to 292km2) under joint venture (“JV”) with Australian Securities Exchange (“ASX”) listed Marvel Gold Limited (“Marvel Gold”)

    - Encouraging diamond drilling (“DD”) results from the first 11 holes at Tabakorole, which are expected to be incorporated into an updated Mineral Resource estimate (“MRE”) in September 2021

    - Grant of new exploration licences totalling 148.5km2 in Morocco, targeting copper and silver

    - Appointment of Mark Campbell as Non-Executive Chairman of 100% owned subsidiary Akh Gold Holdings Ltd and General Manager (Egypt)

 

Steven Poulton, Chief Executive of Altus, commented:

“I am delighted to report on another very active quarter for Altus, during which Altus continued to deliver on its work programmes across its portfolio of projects, including drilling at our projects in Mali. With the receipt of £4.9m / C$8.5m at the start of the quarter, being the balance of proceeds from the March 2021 private placement, the Company ended the quarter with a strong cash balance of £10.8m / C$18.5m.

 

“Having completed a 10,000m RC drilling programme earlier in the year at Diba, we commenced a follow up programme at the end of May, incorporating RC and AC drilling. Of this programme, 7,500m will be AC drilling and will target a high priority 4km long and northerly striking zone, which may represent a potential extension of the Diba NW prospect. Diba NW was discovered by the phase-1 RC programme completed by Altus earlier in the year. Intersections from Diba NW included 1.45 g/t Au over 22m and 1.87 g/t Au over 10m (not true widths). The AC programme will also test the Diba Far East prospect, which is defined by numerous artisanal gold workings, with shafts reportedly dug up to 20m deep, coincident with significant structural targets as identified by the Company’s ongoing ground magnetic survey.

 

“Marvel Gold continued to advance the Tabakorole JV project in southern Mali during the period, with a drilling programme targeting near-surface, high-grade intercepts that fall outside of the previously modelled MRE. A 177-hole AC drilling programme totalling 5,148m was completed during the quarter. This programme has confirmed mineralisation approximately 3km southeast of the main deposit. In addition to the drilling programmes, Marvel Gold has collected 4,267 soil samples and completed 5,300 line kilometres of high resolution ground magnetics, as part of its ongoing regional exploration programme, which includes Tabakorole.

 

During the quarter, the Company conducted reconnaissance exploration on three recently granted copper focused projects totalling 221km2, located in the western anti-Atlas of Morocco; namely Azrar, Izougza and Tata. Analysis has confirmed the presence of prospective geological formations for stratiform sediment-hosted deposits and multiple historic artisanal workings. After the period, four further projects totalling 148.5km2 were granted in the western anti-Atlas of Morocco, increasing the Company’s portfolio of projects in Morocco to 14, and its area of exploration to over 800km2.

 

“After the quarter end, on 16 August 2021, the Company concluded an agreement to acquire an effective 0.418% NSR royalty interest on the Caserones copper mine in the Atacama region of Chile, for a cash consideration of US$34.1 million. The NSR interest is expected to generate approximately US$3.2 million (post-tax) per year attributable to Altus. The Caserones mine is owned and operated by JX Nippon Mining & Metals Corporation of Japan and has an estimated 17 years of production remaining. The acquisition of the NSR interest will be part-financed by a US$29 million acquisition bridge loan facility (“Facility”) provided by La Mancha, Altus’ largest shareholder. The provision of the Facility underscores La Mancha’s commitment to the long-term growth of Altus and the quality of the acquisition. The Company formed a strategic relationship with NYSE American and TSX-V listed EMX Royalty Corp., to acquire the NSR through the creation of a 50:50 owned Chilean SPV company. Altus’ partnership with EMX is strengthened by Michael Winn, the Chairman of EMX, who is also a Non-Executive Director of Altus.

 

“Also following the period, we were delighted to report on excellent initial results from the current RC drilling programme at the Company’s 100% owned Diba gold project in Western Mali. These included an exceptional intersection of 8.50 g/t Au over 24m from 20m downhole (not true width). The RC programme is designed to expand and infill the existing Diba resource, as well as define a maiden resource at the Diba NW prospect. Infill drilling within the current deposit has improved our understanding of the high-grade mineralisation that strikes northeast for approximately 550m through the Diba Deposit.  

 

“We look forward to another exciting quarter ahead, including the commencement of fieldwork in Egypt, further drilling programmes in Mali and an expansion of our due diligence capabilities as we accelerate the assessment of further cash paying royalty acquisition opportunities.

  

INTERIM UNAUDITED FINANCIAL STATEMENTS

FOR THE THREE AND SIX MONTHS ENDED 30 JUNE 2021

CONDENSED CONSOLDIATED INTERIM STATEMENT OF COMPREHENSIVE LOSS

 
   

For the three months ended

30 June

 

For the six months ended
30 June

 
   

2021

 

2020

 

2021

 

2020

 
   

£

 

£

 

£

 

£

 

Continuing operations

                 

Revenue and costs recovered from joint venture partners

 

22,604

 

16,860

 

22,604

 

176,674

Exploration costs expensed

 

(559,089)

 

(288,227)

 

(1,345,788)

 

(588,984)

Administrative expenses

 

(254,437)

 

(125,737)

 

(472,814)

 

(308,311)

Listing and acquisition related costs

 

(2,575)

 

(39,758)

 

(7,493)

 

(46,864)

Foreign exchange gains/(losses)

 

19,261

 

72,054

 

(10,331)

 

55,324

Share based payments

 

(315,758)

 

-

 

(614,516)

 

(20,002)

                     

Profit/(loss) from operations

 

(1,089,994)

 

(364,808)

 

(2,428,338)

 

(732,163)

                 

Interest receivable

 

44

 

1,219

 

60

 

1,614

Interest payable

 

(1,187)

 

(1,769)

 

(2,451)

 

(3,665)

Other income/(costs)

 

(106)

 

-

 

-

 

1,109,001

Fair value gain/(loss) on investments

 

72,521

 

1,208,745

 

94,845

 

431,141

                 

Profit/(loss) before taxation

 

(1,018,722)

 

843,387

 

(2,335,884)

 

805,928

                 

Taxation

 

-

 

(71,209)

 

-

 

(71,209)

                 

Total comprehensive profit/(loss) for the quarter

 

(1,018,722)

 

772,178

 

(2,335,884)

 

734,719

                 

Profit/(loss) for the quarter attributable to:

               

     - Owners of the parent company

 

(1,016,988)

 

772,205

 

(2,333,937)

 

735,171

     - Non-controlling interest

 

(1,734)

 

(27)

 

(1,947)

 

(452)

   

(1,018,722)

 

772,178

 

(2,335,884)

 

734,719

Total comprehensive profit/(loss) for the quarter attributable to:

               

     - Owners of the parent company

 

(1,016,988)

 

772,205

 

(2,333,937)

 

735,171

     - Non-controlling interest

 

(1,734)

 

(27)

 

(1,947)

 

(452)

   

(1,018,722)

 

772,178

 

(2,335,884)

 

734,719

                   

Basic earnings per share (pence) attributable to the owners of the parent

 

(1.26)

 

1.10

 

(3.08)

 

1.17

 

Diluted earnings per share (pence) attributable to the owners of the parent

 

(1.26)

 

1.02

 

(3.08)

 

1.07

 
  

INTERIM UNAUDITED FINANCIAL STATEMENTS

FOR THE THREE AND SIX MONTHS ENDED 30 JUNE 2021

CONDENSED CONSOLIDATED INTERIM STATEMENT OF FINANCIAL POSITION

 
     

As at 30 June

 

As at 31 December

     

2021

 

2020

     

£

 

£

Non-current assets

         

Intangible assets

   

3,689,499

 

3,277,381

Property, plant and equipment

   

8,462

 

4,720

Leased assets

   

50,166

 

60,198

Investments

   

2,033,794

 

1,320,542

     

5,781,921

 

4,662,841

Current assets

         

Trade and other receivables

   

288,474

 

853,629

Held-for-sale assets

   

86,554

 

86,765

Cash and cash equivalents

   

10,808,985

 

5,937,486

     

11,184,013

 

6,877,880

Total assets

   

16,965,934

 

11,540,721

           

Current liabilities

         

Trade and other payables

   

(748,213)

 

(1,144,754)

Held-for-sale liabilities

   

(34,020)

 

(34,020)

Provisions

   

(15,000)

 

(15,000)

     

(797,233)

 

(1,193,774)

Non-current liabilities

         

Trade and other payables

   

(40,631)

 

(45,848)

Total liabilities

   

(837,864)

 

(1,239,622)

           

Net assets

   

16,128,070

 

10,301,099

           

Equity

         

Share capital

   

4,019,576

 

3,504,580

Share premium

   

20,255,458

 

13,222,115

Translation reserve

   

(82,579)

 

(82,579)

Other reserves

   

6,973,529

 

6,359,013

Retained earnings

   

(14,934,686)

 

(12,600,749)

           

Total equity attributable to owners of the parent

   

16,231,298

 

10,402,380

Non-controlling interest

   

(103,228)

 

(101,281)

Total equity

   

16,128,070

 

10,301,099

 

INTERIM UNAUDITED FINANCIAL STATEMENTS

FOR THE THREE AND SIX MONTHS ENDED 30 JUNE 2021

CONDENSED CONSOLIDATED INTERIM STATEMENT OF CHANGES IN EQUITY

 
 

Share capital

Share premium account

Translation reserve

Other reserves

Retained earnings

Total equity

Non-controlling interest

Total

Six months ended 30 June 2020:

£

£

£

£

£

£

£

£

Balance at 1 January 2020

2,102,284

7,378,369

(82,579)

5,755,070

(10,524,314)

4,628,830

(98,327)

4,530,503

Profit/(loss) and total comprehensive profit/(loss) for the period

-

-

-

-

646,137

646,137

(452)

645,685

Issue of shares

1,402,296

5,803,746

-

-

-

7,206,042

-

7,206,042

Expiry of share warrants

-

-

-

-

-

-

-

-

Total transactions with owners, recognised directly in equity

1,402,296

5,803,746

-

-

646,137

7,852,179

(452)

7,851,725

                 

Balance at 30 June 2020

3,504,580

13,182,115

(82,579)

5,755,070

(9,878,177)

12,481,009

(98,779)

12,382,230

                 

Six months ended 30 June 2021:

               

Balance as at 1 January 2021

3,504,580

13,222,115

(82,579)

6,359,013

(12,600,749)

10,402,380

(101,281)

10,301,099

Profit/(loss) and total comprehensive profit/(loss) for the period

-

-

-

-

(2,333,937)

(2,333,937)

(1,947)

2,335,884

Issue of shares

513,333

7,013,435

-

-

-

7,526,768

-

7,526,768

Exercise of warrants

1,663

19,908

-

-

-

21,571

-

16,812

Share based payment charge

-

-

-

614,516

-

614,516

-

298,758

Total transactions with owners, recognised directly in equity

514,996

7,033,343

-

614,516

(2,333,937)

5,828,918

(1,947)

5,826,971

                 

Balance at 30 June 2021

4,019,576

20,255,458

(82,579)

6,973,529

(14,934,686)

16,231,298

(103,228)

16,128,070

 

INTERIM UNAUDITED FINANCIAL STATEMENTS

FOR THE THREE AND SIX MONTHS ENDED 30 JUNE 2021

CONDENSED CONSOLIDATED INTERIM STATEMENT OF CASH FLOWS

 

Period ended 31 March

Three months

 

Six months

 

2021

 

2020

 

2021

 

2020

 

£

 

£

 

£

 

£

Cash flows from operating activities

             
               

Profit/(loss) for the period after taxation

(1,018,722)

 

772,178

 

(2,335,884)

 

734,719

Adjustments for:

             

Net interest (received)/paid

1,143

 

2,166

 

2,391

 

3,665

Share based payments

315,758

 

-

 

614,516

 

20,002

Impairment of non-current assets

-

 

-

 

-

 

3,798

Bad debt provision

-

 

-

 

10,875

 

10,875

Depreciation of property, plant and equipment

5,278

 

6,076

 

12,481

 

12,469

Receipt of shares in investee

-

 

(1,614)

 

-

 

(1,110,613)

Fair value (gain)/loss on investments

(73,350)

 

(1,234,996)

 

(95,674)

 

(457,392)

Other gains/(losses)

-

 

(5,548)

 

-

 

38,952

Movements in working capital:

             

(Increase)/decrease in trade and other receivables

(167,396)

 

100,263

 

(63,088)

 

84,189

Increase/(decrease) in trade and other payables

(313,810)

 

(54,799)

 

(391,959)

 

(477,603)

Cash flows used in operating activities

(1,251,099)

 

(416,274)

 

(2,246,342)

 

(1,136,939)

               

Investing activities

             

Purchase of intangible assets

(257,782)

 

(31,729)

 

(412,118)

 

(60,301)

Purchase of property plant and equipment

(4,792)

 

(1,131)

 

(6,190)

 

(4,027)

Net interest received/(paid)

24

 

(2,167)

 

60

 

(1,915)

Net cash used in investing activities

(262,550)

 

(35,027)

 

(418,248)

 

(66,243)

               

Financing activities

             

Proceeds from issue of shares

4,917,650

 

-

 

7,548,339

 

6,483,561

Principal element of lease payments

(4,958)

 

(4,492)

 

(9,799)

 

(8,866)

Interest element of lease payments

(1,167)

 

(1,633)

 

(2,451)

 

(3,384)

Net cash generated from financing activities

4,911,525

 

(6,125)

 

7,536,089

 

6,471,311

               

Net increase/decrease in cash and cash equivalents

3,397,876

 

(457,426)

 

4,871,499

 

5,268,129

Cash and cash equivalents at beginning of the period

7,411,109

 

7,938,197

 

5,937,486

 

2,212,642

Cash and cash equivalents at the end of the period

10,808,985

 

7,480,771

 

10,808,985

 

7,480,771

 

Qualified Person

The technical disclosure in this regulatory announcement has been approved by Steven Poulton, Chief Executive of Altus. A graduate of the University of Southampton in Geology (Hons), he also holds a Master's degree from the Camborne School of Mines (Exeter University) in Mining Geology. He is a Fellow of the Institute of Materials, Minerals and Mining and has over 20 years of experience in mineral exploration and is a Qualified Person under the AIM rules and NI 43-101.

For further information you are invited to visit the Company’s website www.altus-strategies.com or contact:

 

Altus Strategies Plc

Steven Poulton, Chief Executive

Tel: +44 (0) 1235 511 767

E-mail: info@altus-strategies.com

SP Angel (Nominated Adviser)

Richard Morrison / Adam Cowl

 

Tel: +44 (0) 20 3470 0470

SP Angel (Broker)

Grant Barker / Richard Parlons

 

Tel: +44 (0) 20 3470 0471

Shard Capital (Broker)

Isabella Pierre / Damon Heath

 

Tel: +44 (0) 20 7186 9927

Yellow Jersey PR (Financial PR & IR)

Charles Goodwin / Henry Wilkinson

Tel: +44 (0) 20 3004 9512

E-mail: altus@yellowjerseypr.com

 

About Altus Strategies Plc

Altus Strategies (AIM: ALS, TSX-V: ALTS & OTCQX: ALTUF) is a mining royalty company generating a diversified and precious metal focused portfolio of assets.The Company’s differentiated  approach of generating royalties on its own discoveries in Africa and acquiring royalties globally through financings and acquisitions with third parties, has attracted key institutional investor backing. The Company engages constructively with all stakeholders, working diligently to minimise its environmental impact and to promote positive economic and social outcomes in the communities where it operates. For further information, please visit www.altus-strategies.com.

 

Cautionary Note Regarding Forward-Looking Statements

Certain information included in this announcement, including information relating to future financial or operating performance and other statements that express the expectations of the Directors or estimates of future performance constitute "forward-looking statements". These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, without limitation, the completion of planned expenditures, the ability to complete exploration programmes on schedule and the success of exploration programmes. Readers are cautioned not to place undue reliance on the forward-looking information, which speak only as of the date of this announcement and the forward-looking statements contained in this announcement are expressly qualified in their entirety by this cautionary statement.

 

Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is based on assumptions made in good faith and believed to have a reasonable basis. The forward-looking statements contained in this announcement are made as at the date hereof and the Company assumes no obligation to publicly update or revise any forward-looking information or any forward-looking statements contained in any other announcements whether as a result of new information, future events or otherwise, except as required under applicable law or regulations.

TSX Venture Exchange Disclaimer

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organisation of Canada accepts responsibility for the adequacy or accuracy of this release.

 

Market Abuse Regulation Disclosure

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

Altus Strategies Plc / Index (EPIC): AIM (ALS) TSX-V (ALTS) OTCQX (ALTUF) / Sector: Mining


**END**

Copyright (c) 2021 TheNewswire - All rights reserved.

Today’s News

UEX Repays Loan From Denison

 

Saskatoon, Saskatchewan – TheNewswire – September 17, 2021 – UEX Corporation (TSX:UEX)  (OTC:UEXCF) (“UEX” or the “Company”) is pleased…

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Saskatoon, Saskatchewan – TheNewswire - September 17, 2021 – UEX Corporation (TSX:UEX)  (OTC:UEXCF) (“UEX” or the “Company”) is pleased to announce that the Company has repaid its outstanding term loan (the “Term Loan”) from Denison Mines Corp. (“Denison”).  The Term Loan was used by UEX to purchase JCU (Canada) Exploration Company, Limited (“JCU”), as more particularly described in UEX’s news release dated August 3, 2021.

 

UEX repaid the outstanding balance of C$20.45 million to Denison on September 17, 2021.   Previously, C$20.5 million of the Term Loan was repaid upon UEX transferring 50% of the JCU shares to Denison immediately following the closing of the JCU acquisition (see UEX’s news release dated August 3, 2021).  The shares of JCU owned by UEX that were pledged as security to Denison have been released to UEX.

 

About UEX

UEX is a Canadian uranium and cobalt exploration and development company involved in an exceptional portfolio of uranium projects. 

UEX’s directly-owned portfolio of projects is located in the eastern, western and northern perimeters of the Athabasca Basin, the world's richest uranium belt which in 2020 accounted for approximately 8.1% of the global primary uranium production.  In addition to advancing its uranium development projects through its ownership interest in JCU,  UEX is currently advancing several other uranium deposits in the Athabasca Basin which include the Paul Bay, Ken Pen and Ōrora deposits at the Christie Lake Project , the Kianna, Anne, Colette and 58B deposits at its currently 49.1%-owned Shea Creek Project, the Horseshoe and Raven deposits located on its 100%-owned Horseshoe-Raven Development Project and the West Bear Uranium Deposit located at its 100%-owned West Bear Project.

UEX is also 50:50 co-owner of JCU with Denison.  JCU’s portfolio of projects includes interests in some of Canada’s key future uranium development projects, notably a 30.099% interest in Cameco’s Millennium Uranium Development Project, a 10% interest in Denison Mines Wheeler River Project, and a 33.8123% interest in Orano Canada’s Kiggavik Project, located in the Thelon Basin in Nunavut, as well as minority interests in nine other grassroots uranium projects in the Athabasca Basin.

UEX is also leading the discovery of cobalt in Canada, with three cobalt-nickel exploration projects located in the Athabasca Basin of northern Saskatchewan, including the only primary cobalt deposit in Canada.  The 100% owned West Bear Project hosts the West Bear Cobalt-Nickel Deposit, the newly discovered Michael Lake Co-Ni Zone, and the West Bear Uranium Deposit.  UEX also owns 100% of two early-stage cobalt exploration projects, the Axis Lake and Key West Projects.

FOR FURTHER INFORMATION PLEASE CONTACT

Roger Lemaitre

President & CEO

(306) 979-3849

Forward-Looking Information

This news release contains statements that constitute "forward-looking information" for the purposes of Canadian securities laws. Such forward-looking information is based on a number of assumptions, which may prove to be incorrect. The actual results could differ materially from those anticipated in such forward-looking information as a result of the risk factors including: the timing and content of work programs; results of exploration activities of mineral properties; the interpretation of drilling results and other geological data; and general market and industry conditions. Many of these factors are beyond the control of UEX. Consequently, all forward-looking information contained in this news release is qualified by this cautionary statement and there can be no assurance that actual results or developments anticipated by UEX will be realized. For the reasons set forth above, investors should not place undue reliance on such forward-looking information. Except as required by applicable law, UEX disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.

Copyright (c) 2021 TheNewswire - All rights reserved.

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Today’s News

American Manganese Files Final Prospectus and Amended Disclosure Documents

VANCOUVER, BC / ACCESSWIRE / September 17, 2021 / American Manganese Inc. (TSXV:AMY)(OTCQB:AMYZF)(FSE:2AM)("AMY" or the "Company") is pleased to announce…

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VANCOUVER, BC / ACCESSWIRE / September 17, 2021 / American Manganese Inc. (TSXV:AMY)(OTCQB:AMYZF)(FSE:2AM)("AMY" or the "Company") is pleased to announce that the Company has filed on SEDAR (www.sedar.com) its final short form base shelf prospectus and an amended technical report (the "Amended Technical Report") for its Rocher Deboule mineral property (the "Property"). The Company has also filed and an amended annual information form for the year ended July 31, 2020 (the "Amended AIF").

As a result of a prospectus review by the British Columbia Securities Commission, certain revisions were made to the technical report for the Property which was originally published on October 25, 2020. The Amended Technical Report contains no material differences to the original technical report for the Rocher Deboule Project. The Amended AIF incorporates the executive summary from the Amended Technical Report and is thus accordingly amended; it contains no material differences from the original annual information form filed on June 8, 2021.

About American Manganese Inc.

American Manganese Inc. is a critical metals company focused on the recycling of lithium-ion batteries with the RecycLiCo™ patented process. The RecycLiCo™ patented process was developed to offer a closed-loop and environmentally friendly solution for the recycling of cathode materials used in lithium-ion batteries. The recycling process provides high extraction and purity of cathode metals, such as lithium, cobalt, nickel, manganese, and aluminum. The RecycLiCo™ process was designed with the goal to produce recycled battery products that could be seamlessly and directly integrated into the re-manufacturing of battery cathodes using minimal processing steps.

For more information, please contact:
Larry W. Reaugh
President and Chief Executive Officer
Telephone: 778 574 4444
Email: lreaugh@amymn.com

www.americanmanganeseinc.com
www.recyclico.com

Neither the 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. This news release may contain "forward-looking statements", which are statements about the future based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements by their nature involve risks and uncertainties, and there can be no assurance that such statements will prove to be accurate or true. Investors should not place undue reliance on forward-looking statements. The Company does not undertake any obligation to update forward-looking statements except as required by law.

SOURCE: American Manganese Inc.



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https://www.accesswire.com/664647/American-Manganese-Files-Final-Prospectus-and-Amended-Disclosure-Documents

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Erin Ventures Announces Proposed Private Placement

VICTORIA, BC / ACCESSWIRE / September 17, 2021 / Erin Ventures Inc. ("Erin" or the "Company") (TSXV:EV) announces that, subject to the approval of the…

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VICTORIA, BC / ACCESSWIRE / September 17, 2021 / Erin Ventures Inc. ("Erin" or the "Company") (TSXV:EV) announces that, subject to the approval of the TSX Venture Exchange (the "TSXV"), it intends to complete a private placement offering of up to 6,666,667 units of the Company ("Units") at a price of $0.075 per Unit for gross proceeds of approximately $500,000 (the "Offering").

Each Unit in this Offering will be comprised of one (1) common share in the capital of the Company (a "Share") and one (1) common share purchase warrant (each, a "Warrant"). Each Warrant will have a two (2) year term and will be exercisable into one (1) Share at a price of $0.10.

The Warrants also have an acceleration clause whereby if the Common Shares trade on the TSXV at a price equal or greater than the designated trigger price of $0.15 for more than ten (10) consecutive trading days during the Exercise Period, Erin shall have the right to give written notice to the holder requiring the holder to exercise the Warrant, in whole or in part, within a period of thirty (30) days from the date of receipt of notice from Erin.

The Common Shares and Warrants comprising the Units will be subject to a four-month and one day hold period in accordance with the policies of the TSXV and applicable securities legislation. The Private Placement remains subject to the approval of the TSXV.

The net proceeds from this financing will be used to fund further development of its wholly owned Piskanja boron project in Serbia, and for working capital purposes.

On behalf of the Board of Directors,
Blake Fallis, General Manager

About Erin Ventures
Erin Ventures Inc. is an international mineral exploration and development company with boron assets in Serbia. Headquartered in Victoria, B.C., Canada, Erin's shares are traded on the TSX Venture Exchange under the symbol "EV" and the OTCQB Venture Market under the symbol "ERVFF". For detailed information please see Erin's website at www.erinventures.com or the Company's filed documents at www.sedar.com.

For further information, please contact: 
Erin Ventures Inc. 
Blake Fallis, General Manager 
Phone: 1-250- 384-1999 or 1-888-289-3746
info@erinventures.com
www.erinventures.com

Erin's Public Quotations
Canada
TSX Venture: EV
USA
OTCQB: ERVFF
Europe
Berlin: EKV

Neither the 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.

Forward Looking Statements:
This release contains forward looking statements. The words "believe," "expect," "feel," "plan," "anticipate," "project," "could," "should" and other similar expressions generally identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements. These forward-looking statements are subject to a number of risks and uncertainties including, without limitation, variations in estimated costs, the failure to discover or recover economic grades of minerals, and the inability to raise the funds necessary, changes in external market factors including commodity prices, and other risks and uncertainties. Actual results could differ materially from the results referred to in the forward-looking statements.

SOURCE: Erin Ventures Inc.



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https://www.accesswire.com/664589/Erin-Ventures-Announces-Proposed-Private-Placement

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