(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:
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Symphony Environmental Technologies PLC - Borehamwood, England-based plastic technologies company - Expands into India thanks to joint-venture with Indorama India Private Ltd, a unit of Indorama Corp Pte Ltd. Symphony and Indorama to each have just shy of 47% stake in JV named Symphony Environmental India Pvt Ltd. Arjun Aggarwal, named managing director of JV, to own 7%. Aggarwal "is one of India's prominent young entrepreneurs", Symphony says. Symphony grants Indian JV distribution pact to market and sell its d2w technology in India. D2w makes plastic bags degradable. "The use of plastic in India is increasing because it is the lowest cost option, and is by far the best material for protecting food and water from contamination and preventing food waste and disease. However, India also has an environmental problem in common with most of the world with plastic pollution. Trying to ban plastic is not the answer, but using d2w technology could effectively and significantly reduce the issue of plastic pollution without job losses, factory closures or increases in Co2 emissions," Symphony says.
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Panthera Resources PLC - gold exploration and development company with assets in west Africa and India - Says drilling at Kalaka project in Mali begins. Says 2,500 metre air-core drilling planned at gold asset. Up to five to 20 targets identified will be drill tested, with assay results expected in late December.
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Southern Energy Corp - North American gas-weighted producer focused on growth - Raises USD10 million. Notes offer of 114.9 million shares at CAD0.05 each - about USD0.04 - offer of 93.9 million shares at 2.94p each, and director subscription of 41.2 million shares. Offer of 114.9 million shares secures USD4.6 million, while offer of 93.9 million shares inks USD3.8 million. In addition, it raises USD1.6 million through direct subscription. "The net proceeds of the offering will be used to drill up to three horizontal Selma Chalk wells in the Gwinville field, anticipated to begin in Q4 2021 and for working capital and general corporate purposes," Southern Energy says.
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IronRidge Resources Ltd - minerals exploration company with projects in Chad, Ghana and Ivory Coast - Granted exploration approval at Cape Coast, located adjacent to the Mankessim exploration license in Ghana. Mankessim holds the Ewoyaa lithium asset. "We are very pleased to have been granted this Cape Coast exploration license, strengthening our existing portfolio in Ghana. We will move aggressively to commence regional exploration on the license to define additional pegmatite targets," Chief Executive Vincent Mascolo says.
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Wentworth Resources PLC - natural gas production in Tanzania - Signs deal with Vitol SA "to partially offset" emissions at Mnazi Bay onshore asset in Tanzania. "Wentworth and Vitol will jointly develop new community-focused carbon credit programmes in Tanzania, with Wentworth committing to offtake a material portion of the carbon offsets between 2022 and 2030," company says. Wentworth and Vitol to co-finance deal.
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Guild Esports PLC - London-based esports company - Signs Lennard Sill, a leading player of Fortnite video game, to its roster. The German has won 17 tournaments and amassed earnings of USD300,000, Guild says. He also goes by Rezon. "Rezon has a combined social media following of over 700,000 across his channels, comprising 369,000 followers on Twitch, 151,000 followers on Twitter, 140,000 followers on Instagram and 139,000 YouTube subscribers," Guild says. Sill signs one-year deal with option to renew for another year.
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Westminster Group PLC - Banbury, Oxfordshire-based security contractor - Covid-19 related travel restrictions, a delay in ratification of its Democratic Republic of Congo contract, and general business caution delay some anticipated contract awards and associated revenue. Now expects second half revenue to be "marginally" ahead of the first half, and pretax loss broadly in line. Westminster explains in talks for managed services deal in Central African Republic, "although there is no certainty as to whether these will result in a contract or to the timing thereof", company says. "The company notes that it is in advanced discussions on several sizeable potential contract awards that could positively impact this year's expected outturn, although it is more likely that these will slip into 2022," Westminster adds.
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Open Orphan PLC - London-based pharmaceutical services company - Says data from first-in-human phase 1 probe of AGS-v PLUS, a mosquito saliva vaccine candidate developed my Imutex Ltd and targeting arboviral diseases, to be presented this weekend. Open Orphan has 49% stake in Imutex joint-venture. Findings to be presented at American Society of Tropical Medicine & Hygiene.
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LungLife AI Inc - Thousand Oaks, California-based developer of clinical diagnostic solutions for lung cancer enhanced by artificial intelligence - Says California laboratory handed accreditation by the College of American Pathologists. The asset already had Clinical Laboratory Improvement Amendments backing. "The company, whose clinical laboratory is already CLIA certified, voluntarily sought the accreditation as part of its on-going commitment to maintaining best in class quality systems," LungLife adds.
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ReNeuron Group PLC - Bridgend, Wales-based exosome therapeutics company - Data relating to ReNeuron's CTX-derived induced pluripotent stem cell presented this week at 6th world congress of the Tissue Engineering and Regenerative Medicine International Society in Maastricht, Netherlands. Data is "encouraging" and backs commercial potential of asset, ReNeuron Chief Scientific Officer Stefano Pluchino says.
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eEnergy Group PLC - London-based energy efficiency-as-a-service provider - Says trading in-line with market expectations for year ending June 30. "eEnergy continues to make significant progress towards its stated goal to provide a simple, one stop shop solution to organisations and companies wanting a path to net zero emissions," company says. Says pipeline of opportunities has "progressed well", bolstered by industry events and chance for company to actively market its work. eEnergy adds: "The board expects that the well-documented volatility in energy markets will drive organisations to eliminate energy wastage and reduce consumption, which is expected to present multiple opportunities."
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Pioneer Media Holdings Inc - Vancouver, Canada-based e-sports and mobile games investment company - Closes CAD1.1 million, about GBP646.6 million, private placement. Sold 1.1 million units, comprised of one share and one warrant, at CAD1.00 each. Warrant is exercisable at CAD1.50 for 24 months. Cash goes towards Pioneer plans for investments in non-fungible token-focused gaming sector.
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By Eric Cunha; ericcunha@alliancenews.com
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