Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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FFWD can only bullet point the company RNS (which they have)and then produce the company RNS in full.
Doing anything other than that is not allowed.
Under 1% in Juv, i think its worth buying some Portage before the uplist to the Nasdaq.
Absolutely, ‘hold my hand’rns’s are exactly what’s needed, it’s a bit of a minefield for people trying to research ffwd, the website lists the investee companies but without any information regarding ffwd’s shareholding’s in each company....so skip to company financial reports, where it lists the number of shares held by ffwd in each investee company but no percentages.....jump to rns feed, rns’s do list the percentage: portage 1.18%, Emmac 2.3%, Leap 44%....didn’t see anything for juve...Unless I’ve missed the link on the website to a clear breakdown of the portfolios investments (could have!), then hold my hand updates are definitely required.
There is a large gap between the regular Aim placing (if you see the words ‘for general working capital’ that in 100% of cases means ‘this cash keeps us paid & lights stay on until we need to raise again) and a placing that tells you what they are doing with the monies.
In the case of Portage
(i) further dev of immune-oncology portfolio (treatments that take advantage of the body's I-S to fight cancer)
(ii) formation 1 or 2 new companies (see NYSE:BHVN $200 million dividend)
(iii) Company list on NASDAQ
The RNS document does that Longlad.
Why would Ed need to offer a ‘hold my hand’ guide to what it means to people who don’t hold or don’t have any knowledge of Portage.
Instead of forwarding the rns’s it would help if Ed expanded a bit on the implications for ffwd with the rise, as the market is never receptive once they see what appears to be dilution.
FastForward Innovations Ltd / AIM: FFWD / Sector: Closed End Investments
26 May 2020
FastForward Innovations Ltd
("FastForward", "FFWD" or the "Company")
Investee Company Update: Portage Biotech Inc.
FastForward Innovations Ltd, the AIM quoted company focusing on making investments in fast growing and industry leading businesses, is pleased to note the following announcement released on 25 May 2020 concerning investee company Portage Biotech Inc. ("Portage"). FastForward has a 1.18% interest in the issued stock of Portage.
Portage Biotech Inc.
('Portage' or the 'Group')
Portage Announces Non-Brokered Private Placement
· Supports advancement of its immune-oncology programs
· Enables portfolio expansion/product acquisitions
· Intention to proceed with consolidation (reverse stock split)
Toronto, ON - (May 25, 2020) - Portage Biotech Inc. (CSE: PBT.U, OTC Markets: PTGEF) ("Portage" or the "Company") wishes to announce that, in addition to completing its previously approved plan to consolidate (reverse stock split) its common shares, it will be conducting a non-brokered private placement of post-consolidation common shares for gross proceeds of up to US$10,000,000 (the "Offering") at a price of US$10.00 per post-consolidated common share (the "Offering Price"). The Offering Price is based on a 20 day weighted moving average of the common shares on the CSE less a 10% discount. The Offering may close in one or more tranches at the discretion of the Company. The Company also has the discretion to increase the maximum offering amount by up to 10% to cover over-subscriptions.
Two of the Company's director's, Dr. Gregory Bailey and Mr. James Mellon, have agreed to provide standby commitments in respect of the Offering by subscribing for that portion of the Offering not otherwise subscribed for by outside investors, up to an aggregate of US$2,000,000. This commitment would be reduced if the Offering is oversubscribed.
Ian B. Walters, MD, CEO of Portage, said, "This financing expands our investor base while existing investors continue to support the mission. As released recently, several portfolio companies have achieved development milestones and we are advancing products into human testing requiring more funding. Our discussions with institutional investors and banks have necessitated the consolidation in an effort to prepare for movement to a senior exchange. We are excited by the prospects that this financing will bring for the future growth of Portage and its shareholders."
This Offering is only open to residents of the United States and Canada who are "Accredited Investors" as defined under applicable securities legislation in the United States and Canada and for accredited investors in other international jurisdictions pursuant to applicable exemptions from prospectus and registration requirements. The minimum subscription amount is US$25,000 per investor. Ac