TRADING UPDATES: Shield closer to Canada approval; Angle plans raise

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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Shield Therapeutics PLC - Newcastle, England-based commercial-stage pharmaceutical company - Its Accrufer-Feraccru iron deficiency treatment gets new drug submission approval from Health Canada. "Health Canada are expected to complete their regulatory review in mid-2023 and a successful outcome will allow KYE to market Accrufer in Canada. Shield will be responsible for all manufacturing and supply to the Canadian market," it adds. Company nets GBP250,000 milestone payment for approval and eligible for an additional GBP600,000 in milestone payments upon the achievement of specified calendar net sales targets.

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PureTech Health PLC - Boston, Massachusetts-based clinical-stage biotherapeutics firm - Subsidiary Akili Interactive Labs Inc's Systemic Lupus Erythematosus treatment, AKL-T01, sees significant improvement in motor speed and executive functions in study. The study results were published in the medical journal Lupus, it notes. Akili Chief Medical Officer Anil Jina says: "The results of this study in patients with SLE are consistent with the cognitive improvements seen in other studies after using our digital therapeutic. We are excited to see this continued validation of our technology platform as we advance our pipeline to deliver clinically meaningful cognitive and quality-of-life improvements across patient populations."

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Audioboom Group PLC - London-based podcast producer - Renews partnerships with "key" podcasts including Dark History, Murder Mystery & Makeup and No Such Thing As A Fish. Also plans to expand "creator network" through new commercial agreements with two podcasts, Fair Game with Leah Remini and The Roman Atwood Podcast.

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Angle PLC - Surrey, England-based medical diagnostics company - Proposes placing equal to 10% of existing issued share capital through placing and subscription. Says net proceeds will be used to help its commercialisation plans for its Parsortix system. Number of shares to be placed, and the price, will be determined after the bookbuild closes. Hopes to raise about GBP20 million.

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Greatland Gold PLC - mine developer and explorer in Western Australia - Renegotiates obligations for consideration due under the original 2016 acquisition of the Havieron project. Initial deal sees payment of AUD25,000 cash and issue of 65.5 million shares and further 145.5 million shares conditional upon Greatland's ownership interest in Havieron reducing to 25% on a decision to mine at Havieron. Says Five Diggers, who is receiving the shares, now agrees to take 4.5% reduction in shares, now totalling 139.0 million and equals GBP14.5 million saving, and agrees to 2-year restriction on dealing.

Shaun Day, managing director of Greatland Gold, says: "This is an excellent outcome, simultaneously removing the uncertainty of this long-standing share issue, reducing shareholder dilution by decreasing the number of shares being issued and introduces a two-year restriction on dealing with the shares."

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MGC Pharmaceuticals Ltd - Perth, Australia-based medicinal cannabis company - Sees "successful results" of clinical study into the influence of its ArtemiC Support on patients with post-acute Covid Syndrome, also known as long Covid. "ArtemiC Support, has demonstrated the ability of the supplement to improve the symptoms of long Covid," it says.

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Panther Metals PLC - mineral exploration in Canada - "Delighted" with "stunning" drilling results from Burtville East gold project and Eight Foot Well prospect in Western Australia. Notes result finds 1 metre at 79.90 grammes per tonne gold from 27 metres and 1 metre at 478.00 grammes per tonne from 28 metres, both coming from hole BVE006. Chief Executive Darren Hazelwood says the results reinforce the case for further exploration at Burtville East.

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Premier African Minerals Ltd - British Virgin Islands-based minerals and metals project developer - Sees "impressive" results from Zulu lithium and tantalum project. "The work to date has provided the level of confidence we needed internally to support the pilot plant concept as recently announced. In fact, what we are now understanding about the Zulu deposit is entirely complementary to the use of sensor-based ore sorting and in time is likely to result in a most efficient and effective process," Chief Executive George Roach says.

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Capital Ltd - mining services company - Wholly-owned subsidiary MSALABS expands partnership with Chrysos Corp. Tie in will see MSALABS deploy 21 Chrysos PhotonAssay units across its project by 2025. Notes revenue guidance for MSALABS in 2022 remains about USD30 million. Following the rollout of the further 15 units across 2023 and 2024, in conjunction with the expansion of the existing geochemistry business, MSALABS anticipates generating revenues in excess of USD80 million per annum.

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By Paul McGowan; paulmcgowan@alliancenews.com

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