InnoCan Pharma (INNO.CN) said Wednesday after-trade that it intends to raise CA$1 million through a private placement of up to 535,000 units at CA$1.87 apiece.
Each unit is comprised of one share and one three-year warrant to buy a share at CA$2.50. Proceeds will be used for working capital.
The offering is expected to close on Sept. 17.
InnoCan shares closed down CA$0.25 at CA$2 on the Canadian Securities Exchange.
Crown Point Energy (CWV.V) said Wednesday its listing will be transferred to the NEX board of the TSX Venture Exchange, effective at the opening of trading on Sept. 11.The company said the transfer follows its failure to meet the exchange's Tier 2 continued listing requirements after Liminar Energia acquired more than 90% of Crown Point's common shares.As a result, less than 10% of Crown Point's common shares remain in the public float, the company said.NEX is a separate trading board of the TSXV that provides a trading forum for companies that have fallen below the TSXV's ongoing listing standards. The company's trading symbol will change to CWV.H from CWV.
Elemental Royalty (ELE.TO) said Tuesday after trade that Mexico's anti-trust agency has cleared the company's acquisition of Vizsla Royalties (VROY.V).Elemental will acquire Vizsla Royalties' 2% to 3.5% net smelter returns royalties on Vizsla Silver's (VZLA.TO) Panuco project in Mexico. The royalties will be cornerstone assets in Elemental's portfolio and are life-of-mine interests with no caps, buybacks or step-downs, covering the entire existing resources at Panuco, a statement said."Receiving Antitrust approval is the final regulatory milestone needed to complete the acquisition of Vizsla Royalties, and we look forward to announcing the closing of the Transaction soon," said Chief Executive Officer David Cole.Elemental shares closed down CA$0.46 at CA$28.99 on the Toronto Stock Exchange.
Grid Metals (GRDM.V) said after the market close Tuesday that mineralogical results from the Lucy South pegmatite at its Falcon West property in southeastern Manitoba confirmed pollucite as the main cesium host mineral at the deposit.Pollucite is the preferred mineral for cesium processing.The company said the metallurgical study applying ore sorting technology will soon commence. It has engaged SGS Canada to complete an initial sorting test program of more than 300 kilograms of ore to determine the potential of producing a marketable cesium-bearing pollucite concentrate.Cesium, which is used in energy and security related applications, is defined as a critical metal by both Canada and the US.