RNS Hotlist: Agronomics, Bens, Cizzle, Fusion, NetScientific, Nostrum, Omega, Powerhouse, Revolution, Thor, TM1, Tekcapital, Westminster
Powerhouse Energy Group (PHE), the UK technology company commercialising hydrogen production from plastic, provided an operational update. The company said it has been examining and reviewing the Powerhouse business and its operations, with a view to setting out in the near future an evolved business model, to seek “optimal results and value” for all stakeholders.
Westminster Group (WSG), a leading supplier of managed services, said that its Technology Division has been awarded a contract to supply and install advanced screening solutions to a West African Parliament building. The contract is valued at over £300,000.
Nostrum Oil & Gas (NOG), an independent oil and gas company, announced its operational update in respect of the three months ended 31 March 2022. Daily production after treatment averaged 14,683 boepd (Q1 2021: 19,341 boepd). Daily sales volumes for averaged 14,059 boepd (Q1 2021: 17,419 boepd).
Tekcapital (TEK), the UK intellectual property investment group, announced its audited results for the year ended 30 November 2021. Net Assets increased 108% to US$68.1m, a record level (2020: US$32.7m). NAV per share increased 37% to US$0.48 (2020: $0.35).
Bens Creek Group (BEN), the owner of a metallurgical coal mine in North America, said it has undertaken a number of steps to increase its independence from its largest shareholder, MBU Group Capital Limited. The Company has purchased, from MBU, the membership interests in Ben's Creek Rail Land LLC.
Omega (ODX), the specialist medical diagnostics company, has raised £2.0 million at 4p. The cash will be used initially fund the CD4 business to divestment and provide additional working capital.
Technology Minerals (TM1), the battery metals group, has signed a MOU for the Proposed Sale of an initial 10 per cent interest in the company's registered claims in its wholly owned US cobalt/copper projects; the Blackbird Creek Project and Emperium Project, Lemhi County, Idaho, United States of America, to Bluebird Metals LLC or a cash consideration of £900,000.
Revolution Beauty Group (REVB), the beauty innovator, announced an update on trading for the year ended 28 February 2022. Revolution Beauty said it has experienced continued positive momentum in H2 2022. The Group reports, subject to audit, revenue of c. £194mil up 42% versus 12mth ending Feb 2021, and Adjusted EBITDA c. £22mil up 73% versus 12mth ending Feb 2021.
NetScientific (NSCI), the international life sciences and sustainability technology investment group, announced the conditional acquisition of a 30 per cent. stake in Vortex Biotech Holdings Ltd. The Acquisition is conditional upon the receipt by Deeptech Disruptive Growth Investments Ltd of a customary HMRC tax clearance relating to the restructuring of VBHL.
Cizzle Biotechnology (CIZ), the UK based diagnostics developer, has signed a heads of terms to partner with CorePath Laboratories, a full service cancer reference laboratory, to develop and offer its proprietary early-stage lung cancer test throughout the USA. There are proposed 15% royalty and royalty sharing arrangements for the company over all offering of products and services using CIZ1B via CorePath in the USA.
Fusion Antibodies (FAB), specialists in pre-clinical antibody discovery, and the stock having a spread wide enough to drive a London bus through it, provided an unaudited trading update for the year ended 31 March 2022. The company said revenue growth was achieved in both H1 and H2 of FY2022 compared to the comparable periods in the previous financial year, with an unaudited revenue of £4.8m, representing a 14% increase on FY2021.
Agronomics (ANIC), which is focused on the field of cellular agriculture, announced it has invested a further $ 2 million into Chinese cultivated meat company CellX Limited. Agronomics will now have a 5.14% equity ownership in CellX.
Thor Mining (THR) said that a ground based electromagnetic survey over the Krona Prospect has commenced at the Company's 100% owned Ragged Range Project, located in the Eastern Pilbara, Western Australia. The survey is designed to detect conductive anomalies at depth that may indicate the presence of nickel sulphide mineralisation.
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