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MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG / FKT: 1MG / OTC: MGXMF) is pleased to announce, further to its news release dated November 23, 2018, it has closed the first tranche of its previously announced non-brokered private placement financing (the “Offering”).
FSD Pharma Inc. (“FSD Pharma” or the “Company”) (CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9) announced today that the Company’s facility and land located at 520 William Street in Cobourg, Ontario has a Fair Market Value of $105,000,000 according to a recent Comprehensive Property Value Assessment by a commercial real estate assessment specialist issued on November 20, 2018.
MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG / OTCQB: MGXMF / FSE: 1MG) reports that joint-venture partner A.I.S. Resources (“A.I.S.”) (TSX.V: AIS) has commenced drilling at the Salinitas lithium project (“Salinitas” or the “Project”) in Argentina. Samples recovered thus far from a 43-meter interval show a porous coarse sand which is conducive to the transmission of brines. The trenching program completed in October confirmed the presence of these porous sands. Resistivity of these sands is expected to be encountered at depth. The objective of the drill program is to test two geophysical anomalies generated from the previously completed TEM (Transient Electromagnetic Survey) survey. These anomalies represent potential aquifer structures based on interpretation of the geophysical profiles. Brines will be sampled down to 400m, with specific yield and other porosity tests. Subject to brine composition and flow rate, one well will commence a 30-day pump test.
Advantage Lithium Corp. (the “Company” or “Advantage Lithium”) (TSX Venture: AAL) (OTCQX: AVLIF) is pleased to provide this general update on activities at the Cauchari JV property located in Jujuy Province, Argentina.
Over at CEO.CA Tina Leto has an excellent article on the state of the uranium industry.
FSD Pharma Inc. (“FSD Pharma” or “FSD”) (CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9) announced today the appointment of Rupert Haynes as Chief Executive Officer. Mr. Haynes is a highly accomplished healthcare executive with nearly three decades of global pharmaceutical experience having most recently held the position of Head of Global Marketing at GW Pharmaceuticals (Nasdaq: GWPH) in the United Kingdom. In his new role with FSD Pharma, Mr. Haynes will continue to work out of the United Kingdom, which will support FSD Pharma’s strategy of expanding its global footprint. Interim CEO and Co-chairman of the board, Dr. Raza Bokhari will remain in place as CEO until Mr. Haynes officially assumes the role.
MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG / OTCQB: MGXMF / FSE: 1MG) is pleased to report that as of last week engineering partner PurLucid Treatment Solutions (“PurLucid”) had processed the first shipment of 40m3 of wastewater brine from an oilsands customer. The 5m3 system treated highly concentrated evaporator blowdown wastewater (“EBD”) and will provide significant cost savings for the customer. The system is currently operating at a 3rd party industrial location and the Company is pleased to report that the same steam assisted gravity drainage (“SAGD”) operator recently received an operating permit for the equipment from the Alberta Energy Regulator. A new 10m3 high temperature, high pressure system, is near completion and is expected to be deployed on site in January. The current 5m3 system will continue to operate and process water from customers. Additional systems are expected to be deployed approximately every other month through first and second quarter of 2019, with a significant acceleration of deployments thereafter.
The NFT Financing will consist of an offering of up to 6,700,000 units (the “NFT Units”). Each NFT Unit will be priced at $0.60 and comprised of one common share of the Company (a “Common Share”) and one common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to acquire one additional Common Share of the Company for a period of 36 months from the date of closing at an exercise price of $0.67.
On November 15, White Gold Corp. (V.WGO) put out a press release further detailing the major new discovery at its “Vertigo” target. MotherlodeTV recently interviewed White Gold Corp. CEO, David D’Onofrio, about this discovery in the White Gold District, Yukon.
