A glance at some of the day's highlights from the Proactive Investors US and Canada newswires
() (OCTMKTS:NTTHF) announced Wednesday it has produced battery-grade lithium carbonate at its pilot plant in Fiambala using concentrated brine from its wholly owned Tres Quebradas lithium project (3Q project) in Argentina's Catamarca province. In a statement, Neo Lithium said the brine was extracted from the high-grade zone located in the northern zone of the 3Q Project and then evaporated at the company's industrial-scale ponds at the same location under similar conditions as production scale. The company achieved 99.599% purity using an improved process, which may decrease operational and capital costs while minimizing reagent, water and power consumption.
The surge in market volatility triggered by the deadly coronavirus outbreak is prompting A/S (CPH:BIOPOR) to start a rights issue, which will allow for the subscription of up to 24,992,054 new shares, instead of going the route of a private placement. The move to strengthen the Danish in-vitro diagnostic company’s financial position is set to raise up to US$8.3 million or roughly 55 million in Danish Krones, and provides a subscription price of DKK2.20 per share ($0.33). All proceeds from the rights issue will be put towards funding BioPorto’s applications to the US Food and Drug Administration for clearance in 2020 of its flagship NGAL test, which provides an early risk assessment of acute kidney injury, as well as to raise awareness about the NGAL platform, particularly in the US.
MGX Renewables Inc, doing business as (), has settled the debt claimed by MGX Minerals Inc () (OCTMKTS:MGXMF) by agreement to pay to it $1.5 million over the next four months. Also as part of the settlement, MGX Minerals has agreed to sell to Zimtu Capital Corp 5.5 million shares of Zinc8 for $550,000 that are to be held in escrow and released over two years. The remaining Zinc8 shares in escrow will be retained by MGX Minerals. In other news, Jared Lazerson, the former CEO of Zinc8, has resigned as a director. The board of Zinc8 now is composed of CEO Ron MacDonald, Michael Reimann, Lyndon Patrick and David Hodge.
Newgioco Group (NASDAQ:NWGI), the sports betting and gaming group, has been forced to close about 150 of its betting shops across Italy in the wake of the outbreak of the deadly coronavirus in the Mediterranean country. However, CEO Michele Ciavarella says the company’s long-term fundamentals remain robust and Newgioco is still proceeding according to plan with its planned investments like the development of its US betting platform. Further financial updates, as well as earnings and the publishing of cash flow from operations, will be made available during the fiscal second quarter of this year.