Stockwatch Street Wires
- Poseidon ex Kostelecky denies inflating revenues
Poseidon Concepts Corp.'s former U.S. vice-president, Joseph Kostelecky, denies that he did anything to improperly inflate the company's revenue. U.S. prosecutors claim that he was behind a scheme that caused Poseidon's collapse.
- Energy Summary for June 1, 2020
Trans Mountain begins the B.C. leg of pipeline construction. Athabasca Oil sees its credit facility cut to the bone. Cequence Energy succumbs to debt and enters creditor protection, while Journey Energy and Bonterra Energy keep their bankers at bay.
- Cannabis Summary for June 1, 2020
Auxly Cannabis reports $9.9-million of revenue in Q1, its first full quarter of cannabis 2.0 sales. Acreage Holdings arranges up to $60-million worth of financings, while Valens obtains credit facilities from CIBC and ATB Financial for up to $40-million.
- Diamond & Specialty Minerals Summary for June 1, 2020
Diamond Fields Resources is chatting up its Beravina zircon project in Madagascar and the ML-111 marine diamond project in Namibia. Lomiko Metals has raised some cash but will need more for La Loutre. TNR Gold has raised cash while it waits on royalty revenue from Mariana.
- Gold Summary for June 1, 2020
Galway Metals has high-grade assays from its Clarence Stream project in New Brunswick. The numbers bode well for a coming resource estimate. Radisson Mining Resources has new assays from its O'Brien project in Quebec. A new resource estimate is expected there as well.
- Shell Summary for May 29, 2020
ADL Ventures submits a filing statement and releases the terms of its QT with Real Technology Broker. The shell is raising $1.6-million (U.S.) at 7.65 U.S. cents. The shell and its target expect to close the QT next week.
- Energy Summary for May 29, 2020
U.S. oil prices post their largest monthly percentage gain on record. TORC Oil, Petrus Resources and Gear Energy win extensions to their credit reviews. Cardinal Energy makes its pitch to debentureholders, and Falcon Oil twiddles its thumbs in Australia.
- Cannabis Summary for May 29, 2020
Canopy Growth falls steeply after reporting disappointing fiscal Q4 results, including falling revenue and a higher-than-expected EBITDA loss. Illinois-based Cresco Labs reports strong revenue growth but still has high expenses, while Organigram amends its credit with BMO.
- SEC reinstates Coldicutt associate Weaver
The SEC has reinstated Robert C. Weaver, a California lawyer barred for a scheme that included former Vancouver broker Tom Coldicutt. The regulator accused the men of running a shell scheme from 2006 to 2011.
- Diamond & Specialty Minerals Summary for May 29, 2020
Tri Origin Exploration is still awaiting word from De Beers about a diamond hunt on its Ontario cobalt projects. Canada Silver Cobalt Works has a maiden resource for Castle East, in Ontario. Pan Global Resources has new assays from Escacena in Spain.
- Gold Summary for May 29, 2020
Rokmaster Resources has cleared the way to its Revel Ridge metals project in B.C. and begun work ahead of a coming dream sheet. Novagold Resources complains about a report issued by a short seller that denigrates the company and its Donlin gold project in Alaska.
- SEC defendant Cohen's release opposed by DOJ
SEC defendant Emin Cohen, serving two years for a boiler room scheme, is healthy and should remain in jail, prosecutors say. Mr. Cohen, 37, is seeking release on COVID-19 grounds.
- Energy Summary for May 28, 2020
Ovintiv says goodbye to chairman Clayton Woitas and president Mike McAllister. NuVista Energy suffers a chop to its credit facility. PetroShale, Razor Energy and Pieridae Energy garner mixed reactions to their first quarter financials.
- Shell Summary for May 28, 2020
Vincero Capital arranges a pharmaceutical QT with NewGen Therapeutics, a cancer drug developer. The shell and NewGen aim to raise $2.5-million at 20 cents. Califfi Capital sees its former QT target, Fenix Gold, begin trading as Fenixoro Gold on the CSE.
- Gold Summary for May 28, 2020
Osino Resources has new assays from the Twin Hills target at Karibib in Namibia. Cartier Resources has new assays from Chimo, near Val d'Or, just a few weeks after rolling out a resource update. Inca One Gold plans to sell its own gold direct to investors.
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