News Release
Royal Helium Secures $6 Million in Bought Deal Offering to Fuel Expansion and Well Development
Royal Helium Ltd
Royal Helium CEO Andrew Davidson joined Steve Darling from Proactive to announce the successful completion of a bought deal public offering that raised $6 million. The offering was conducted in conjunction with underwriting firms Canaccord Genuity, Cormark Securities, and Eight Capital Corp. Davidson detailed that the proceeds are designated for a robust exploration and development agenda. This includes drilling potential new wells at the company’s 40-mile site in Alberta and enhancing the development of existing wells in Saskatchewan. The capital will also bolster operational scaling and improve working capital to facilitate the company's ongoing progress toward self-funding from operational outputs. He highlighted the strategic importance of this capital injection, noting it supports Royal Helium's expansion from managing a single asset to multiple assets. Davidson emphasized the critical nature of this funding in ensuring the company does not miss another exploration season, thereby maintaining momentum in its growth and development strategy. Contact Details Proactive North America +1 604-688-8158 na-editorial@proactiveinvestors.com
May 08, 2024 05:28 PM Eastern Daylight Time
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Hive Digital Technologies Reports Strong Bitcoin Production and Operational Growth in April 2024
HIVE Digital Technologies
Hive Digital Technologies Executive Chairman Frank Holmes joined Steve Darling from Proactive to disclose the company's Bitcoin production figures for April 2024. During this period, Hive Digital successfully mined 212 Bitcoins, increasing its total holdings by 4% to 2,377 Bitcoins. The company sustained a robust average mining capacity of over 4.9 Exahash throughout the month. Holmes detailed that Hive Digital achieved an average of 43.6 Bitcoin per Exahash, with a consistent hashrate of 4.9 EH/s, noting an 8% increase in the monthly average hashrate. The firm also maintained a daily production rate of 7.1 BTC, underscoring its operational efficiency and robust performance. This growth is in line with the company's strategic goals to meet the anticipated increased demand for Bitcoin, especially following the launch and approval of spot Bitcoin ETFs. Hive Digital remains focused on maximizing cash flow and return on invested capital per share, while carefully managing shareholder dilution. Holmes emphasized that this growth trajectory is not only on target as anticipated but is also driving significant increases in positive operating income. HIVE emphasises ethical sustainability by exclusively using green energy for its mining operations and is expanding its footprint in artificial intelligence (AI) using Nvidia GPU chips. This dual approach supports its value proposition and infrastructure build-out in data centres, further enhancing its competitive edge in the industry. Contact Details Proactive North America +1 604-688-8158 NA-editorial@proactiveinvestors.com
May 08, 2024 03:36 PM Eastern Daylight Time
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Excellon Resources Reports Promising Results from Kilgore Project Drilling in Idaho
Excellon Resources Inc
Excellon Resources CEO Shawn Howarth joined Steve Darling from Proactive to discuss the latest drilling outcomes from the exploration program at the Kilgore Project in Idaho, which is entirely owned by Excellon. The exploration comprised six diamond drill holes, spanning a total of 2,145 meters, with oriented cores and detailed sampling aimed at enhancing the structural understanding and potential of high-grade mineralization. Howarth reported that the drilling has successfully confirmed mineralization in a previously under drilled area of Kilgore, with grade intervals consistent with the current Mineral Resource Estimate cut-off. This suggests a potential extension of the mineralization southwest of the known deposit. Notable results included a yield of 1.37 grams per tonne of gold (g/t Au) over 81.21 meters in drill hole EX22KG004, which included higher concentrations of 2.77 g/t Au over 15.64 meters and 5.28 g/t Au over 5.54 meters, confirming significant high-grade mineralization in the Aspen sediments. Additionally, drill hole EX22KG005 showed 0.53 g/t Au over 56.24 meters, including 2.91 g/t Au over 1.45 meters, effectively testing the extension of the existing mineralized envelope to the southwest. This valuable data will contribute to a better understanding of grade contouring and will be instrumental in future resource modeling and exploratory drilling programs. Contact Details Proactive North America +1 604-688-8158 na-editorial@proactiveinvestors.com
May 08, 2024 03:32 PM Eastern Daylight Time
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Electric Royalties looks for sustained growth in 2024 after closing large royalty acquisition
Electric Royalties Ltd
Electric Royalties CEO Brendan Yurik joined Steve Darling from Proactive to share details the company has announced the successful closure of the company's previously disclosed transaction to acquire a comprehensive portfolio comprising 18 royalty agreements and 32 lithium properties situated in Ontario. Yurik elaborated on the portfolio's composition, highlighting its inclusion of 18 royalties and 32 lithium properties. Notably, 31 of the 32 properties are presently under exploration by third parties pursuant to option agreements. Subject to the fulfillment of option payments over the next two and a half years and the exercise of options, each property would transition into royalty interests for Electric Royalties. The company would retain ownership of any properties not transferred to optionees, with the flexibility to re-option, sell, or relinquish such properties. These properties encompass promising land situated on geological trends similar to, and surrounding, significant lithium discoveries in Ontario. Moreover, six out of 24 developed lithium prospects in Ontario with documented reserves or resources are proximate to these properties. Electric Royalties' acquisition underscores its strategic positioning within the burgeoning lithium sector, capitalizing on the potential of Ontario's lithium resources and reinforcing its commitment to expanding its royalty portfolio in key mining jurisdictions. Contact Details Proactive North America +1 604-688-8158 na-editorial@proactiveinvestors.com
May 08, 2024 02:55 PM Eastern Daylight Time
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Condor Resources Reappoints Dr. Quinton Hennigh to Board of Directors Amidst Continued Growth
Condor Resources Inc
Condor Resources CEO Chris Buncic joined Steve Darling from Proactive to announce the reappointment of Dr. Quinton Hennigh to the company’s board of directors. Dr. Hennigh, who has previously served on the board in 2021, brings over 30 years of experience as a globally renowned exploration geologist specializing in precious metals. Buncic highlighted Dr. Hennigh’s extensive background, which began after earning his PhD in Geology/Geochemistry from the Colorado School of Mines. His career includes significant roles at major gold mining firms such as Homestake Mining (now part of Barrick Gold Corp.), Newcrest Mining, and Newmont Corp. Dr. Hennigh is also the founder of Novo Resources Corp, where he currently serves as co-Chairman, and is the CEO of San Cristobal Mining, a private silver mining company. Dr. Hennigh has been instrumental in several major global mining discoveries, including First Mining Gold's Springpole gold deposit in Ontario, Kirkland Lake Gold's Fosterville mine in Australia, Rattlesnake Hills in Wyoming, and Lion One's Tuvatu project in Fiji, among others. His deep understanding of the sector and his previous involvement with Condor Resources make him a valuable asset to the board. Buncic also noted that Dr. Hennigh is familiar with the Pucamayo Project and has continuously monitored the company's progress, suggesting a strong alignment with the company's strategic goals and future initiatives. Contact Details Proactive North America +1 604-688-8158 na-editorial@proactiveinvestors.com
May 08, 2024 02:53 PM Eastern Daylight Time
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First Phosphate Corp Partners with Rapid Building Systems to Develop Manufacturing Plant in Quebec
First Phosphate Corp
First Phosphate Corp CEO John Passalacqua joined Steve Darling from Proactive to announce that the company has signed a partially binding letter of intent with Rapid Building Systems of Australia. This agreement marks the initial steps toward establishing a Rapidwall Manufacturing Plant in the Saguenay-Lac-St-Jean Region of Quebec. Once the terms are finalized, First Phosphate will obtain exclusive sales and marketing rights in Canada for RBS's Rapidwall and Rapidseal products. Passalacqua highlighted the strategic benefits of the Rapidwall Manufacturing System, explaining that it will enable First Phosphate to convert clean phosphogypsum, a byproduct from their upcoming purified phosphoric acid plant, into building panels. These panels are intended to support housing projects, particularly in rural and indigenous communities across North America. Rapidwall consists of prefabricated load-bearing wall panels, crafted through a moulding process that incorporates glass-fibre reinforced, water-resistant gypsum plaster. This makes them suitable for a wide range of applications, from single-family homes to multi-storey residential, commercial, and industrial developments. This initiative not only aims to enhance housing solutions but also underscores First Phosphate’s commitment to sustainable building practices. Contact Details Proactive Investors +1 604-688-8158 na-editorial@proactiveinvestors.com
May 08, 2024 02:51 PM Eastern Daylight Time
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Cloud DX secures 4th Provincial Health contract for remote patient monitoring
Cloud DX
Robert Kaul, CEO of Cloud DX, discussed with Steve Darling from Proactive the new Remote Patient Monitoring Agreement for Cloud DX RPM Services, which has been secured with a Canadian Provincial Health Authority. This agreement expands Cloud DX's provision of Connected Health remote patient monitoring products and services across Canada, now including contracts with Alberta, Yukon, Prince Edward Island, and a Master Services Agreement with Mohawk Medbuy—the country's largest hospital procurement agency. Kaul shared with Proactive that the contract spans 36 months and includes options for two 12-month extensions. Each subscription under these contracts is projected to average $1,520 CAD annually, covering the costs associated with the Connected Health Kit, which includes patient-prescribed hardware, software, and connectivity solutions. Over the four months leading up to April 30, 2024, Cloud DX has announced a significant growth milestone, securing 26 new contracts. These agreements span across hospitals, paramedic services, U.S. clinics, and include two Canadian provinces, marking a significant inflection point in the company’s expansion and presence in the healthcare industry. Contact Details Proactive North America +1 604-688-8158 NA-editorial@proactiveinvestors.com
May 08, 2024 02:48 PM Eastern Daylight Time
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Tribe Property Technologies sees record revenue as company posts 4th quarter and year end results
Tribe Property Technologies
Tribe Property Technologies CEO Joseph Nakhla joined Steve Darling from Proactive to announce the company's financial results for the fiscal year and fourth quarter ended December 31, 2023. Nakhla began by highlighting the company's revenue growth, with total revenue reaching $19.39 million, marking an 8.8% increase compared to the previous fiscal year. This growth was attributed to various factors, including an expansion in software and service fees driven by an increased number of properties on the Tribe platform, higher financial services revenue associated with banking partnerships, software licensing fees, and the acquisition of Meritus. Additionally, Nakhla noted a significant improvement in gross profit, which amounted to $6.63 million for fiscal 2023 compared to $5.75 million in the previous year. This increase in gross profit and gross profit percentage was attributed to the addition of service contracts through organic growth, acquisitions, and restructuring efforts. Adjusted EBITDA for fiscal 2023 showed improvement as well, with an outflow of $6.56 million, representing a 19.8% improvement compared to the previous fiscal year. This improvement was driven by increased revenue and cost-cutting initiatives. Looking ahead to 2024, Nakhla expressed optimism about the company's prospects for improved revenue growth, profitability, and expanding margins. Tribe aims to achieve this through various strategies, including increasing monthly recurring revenue by securing new property management agreements, onboarding more communities onto the Tribe platform, winning new software licensing agreements, and boosting digital services revenue. The company also has a robust pipeline of profitable acquisition opportunities. Furthermore, Tribe remains committed to investing in its software platform and adding functionality to its suite of products to maintain its industry leadership position and continue providing innovative solutions to its clients. With its strong financial performance and strategic initiatives in place, Tribe Property Technologies is well-positioned to capitalize on growth opportunities in the property management sector and drive value for its shareholders. Contact Details Proactive North America +1 604-688-8158 na-editorial@proactiveinvestors.com
May 08, 2024 02:45 PM Eastern Daylight Time
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Bitfinex Pay and Awepay for Enterprise Payments Collaboration
AWEpay
Awepay.io, a digital payments technology provider known for its early pioneership of financial technologies for mainstream and alternative merchant segments for South East Asia has been welcome as the latest enterprise member for Bitfinex Pay, an emergent payment gateway that enables users to pay online for goods and services using a variety of cryptocurrencies popular today. The agreement, formalized on 8th April 2024, sees Awepay.io playing a catalytic role in accelerating the mainstream retail adoption of the most used cryptocurrencies such as, but not limited to Bitcoin, Lightning, Ethereum and Tether stablecoins as a form of payment for products and services offered by both online and physical merchants. “Inclusivity is key to progress. Awepay.io, through the early days of fintech, has worked tirelessly to develop payment solutions that empower the unbanked and underbanked across the globe to make and accept payments without geographical borders. This collaboration comes at a strategic time with traditional online payments becoming the norm, and cryptocurrency acceptance becoming more mainstream. Hence, the market is ready to embrace cryptocurrencies,” commented K.C. Seow, the CEO. Awepay.io will play the essential role of onboarding merchants to accept cryptocurrency payments for their products and services by integrating the Bitfinex Pay API into their e-commerce checkout methods, or to Point Of Sale (POS) systems used by physical retail merchants. Seow explains, “This is a welcome challenge – it goes beyond conversion of our existing merchant database. At this time, the majority of ‘click’ and ‘brick’ merchants both still need extensive education, training and support to fully reap the benefits of this new payment method. This same familiarization needs to extend to their customers and employees, so our first goal is to do this fast, widely and effectively while providing resource-efficiency to all stakeholders.” Awepay.io, armed with its own software capabilities, will also play a key role in acquiring invaluable merchant and user feedback to help Bitfinex Pay improve the crypto payment system, features and user experience moving forward. Those looking to accept cryptocurrency payments for their business can visit www.awepay.io for more information About AWEpay AWEpay is more than just a payment gateway solution; it is a partner in the journey towards excellence. With years of expertise in the payment processing industry, AWEpay is supported by an extensive international network, strong business acumen, innovative spirit, and industry foresight. Collaborating with AWEpay means gaining a partner dedicated to success and growth. Contact Details Awetech Sdn Bhd K.C. Seow cs@awepay.com
May 08, 2024 02:10 PM Eastern Daylight Time
