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THC Global enhances Australian medicinal cannabis strategy with Tetra Health acquisition

THC Global Group Ltd (ASX:THC) has acquired Tetra Health, a leading clinic network in Australia that facilitates access to legal medicinal cannabis medicines to Australian patients.

Tetras network of medical practitioners comprises more than 600 referring physicians, 30 prescribing physicians and a national network of dispensing pharmacies.

This network has in excess of 1,100 active Australian patients and more than 10,000 prospective patients within its current database.

Increased patient access[hhmc]
THC Global CEO Ken Charteris said: “We are very pleased to have acquired Tetra Health. Through this acquisition, we will be able to rapidly increase the number of Australian patients can access cannabis, including our own high-quality low patient cost products.”

The companys shares were as much as 13% higher in early trade to 34 cents.

Tetra has developed a proprietary patient engagement and monitoring solution enabling:

Secure patient onboarding;
Automation of Special Approval Sch..

THC Global Group Ltd (ASX:THC) has acquired Tetra Health, a leading clinic network in Australia that facilitates access to legal medicinal cannabis medicines to Australian patients.

Tetras network of medical practitioners comprises more than 600 referring physicians, 30 prescribing physicians and a national network of dispensing pharmacies.

This network has in excess of 1,100 active Australian patients and more than 10,000 prospective patients within its current database.

Increased patient access


THC Global CEO Ken Charteris said: “We are very pleased to have acquired Tetra Health. Through this acquisition, we will be able to rapidly increase the number of Australian patients can access cannabis, including our own high-quality low patient cost products.”

The companys shares were as much as 13% higher in early trade to 34 cents.

Tetra has developed a proprietary patient engagement and monitoring solution enabling:

  • Secure patient onboarding;
  • Automation of Special Approval Scheme and Therapeutic Goods Administration applications;
  • Better patient management and ongoing monitoring through Tetras specialist nurses;
  • Follow-up physician consultations; and
  • Unique, valuable patient data accumulation for medicines producers.

The majority of Tetra patients attend physician consultations using a web-based telehealth platform, however, Tetra also processes patients through its growing prescribing physician network.

Revenue is generated primarily from patient consultation fees and from the supply of de-identified data and evidence generated from patient management.

Through its physician network and digital health platform, Tetra collects valuable real-world evidence generated during the patient onboarding and management process.

Data highly sought after


This data is highly sought after by producers of medicines as it can be used to enable data-driven product decisions and actionable treatment insights to assist in clinical trials or observational study designs that advance the safety and efficacy of medical cannabis in Australia.

Tetra has a number of global medicinal cannabis producers signed to agreements to access this data on their own products.

Charteris said: “Going forward, we will look to further broaden the current network and potentially expand across the Tasman and other regions.

“THC Global believes this acquisition will deliver exceptional value to our shareholders.”

Share sale agreement


Total consideration for the acquisition is $2.5 million in THC shares and $500,000 in cash to be paid to vendors over six months as well as 5 million unlisted options exercisable at 40 cents expiring two years after issue.

In line with a share sale agreement, completion of the acquisition is expected to occur on or around Monday, May 25, 2020.

If the vendors exercise their unlisted options, the company will receive a further $2 million in cash from the vendors.

Increasing accessibility


Tetra and THC Global are well equipped to rapidly increase the number of Australian patients using legal medicinal cannabis medicines, by increasing accessibility through simplifying the process of doctors consultations and TGA approvals, as well as supplying the companys high-quality, low patient cost medicinal cannabis medicines.

Tetra generates revenue primarily from patient consultation fees and from the supply of de-identified data and evidence generated from patient management.

On acquisition, Tetra will be operating at cash flow breakeven, with an expectation of near-term profitability as patient numbers increase through 2020.

Following the acquisition, Tetra will remain a product-agnostic solution for patients and medical professionals accessing medicinal cannabis under the Australian regulatory scheme.

Tetras doctors prescribe products produced by a range of companies and will introduce the THCs Canndeo medicines as they become available for prescription in tRead More – Source

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Australia

Trigg Mining managing director shows faith in SOP strategy with on-market purchase

Trigg Mining Ltd (ASX:TMG) managing director Keren Paterson has demonstrated her confidence in the companys sulphate of potash (SOP) strategy with an on-market share purchase.

On June 2, Paterson acquired 52,000 shares in a direct interest.

She now holds 52,000 fully paid ordinary shares in that direct interest and another 1.45 million loan shares in the same interest, which were acquired under a Loan Funded Plan.

The MD also holds 2.498 million shares in an indirect interest.

Shares last traded at 8 cents and since the close on April 1 have traded in the range from 2 cents to 8.7 cents.

Road sealing boost[hhmc]
Last week Trigg received an infrastructure boost for its Lake Throssell SOP Project in WA with a joint State and Federal government program to seal a 41-kilometre section of the Great Central Road.

The road is a key arterial route that runs from Leonora and Laverton towards Trigg's high-grade project and the $20 million road sealing contract will assist in future pro..

Trigg Mining Ltd (ASX:TMG) managing director Keren Paterson has demonstrated her confidence in the companys sulphate of potash (SOP) strategy with an on-market share purchase.

On June 2, Paterson acquired 52,000 shares in a direct interest.

She now holds 52,000 fully paid ordinary shares in that direct interest and another 1.45 million loan shares in the same interest, which were acquired under a Loan Funded Plan.

The MD also holds 2.498 million shares in an indirect interest.

Shares last traded at 8 cents and since the close on April 1 have traded in the range from 2 cents to 8.7 cents.

Road sealing boost


Last week Trigg received an infrastructure boost for its Lake Throssell SOP Project in WA with a joint State and Federal government program to seal a 41-kilometre section of the Great Central Road.

The road is a key arterial route that runs from Leonora and Laverton towards Trigg's high-grade project and the $20 million road sealing contract will assist in future project development.

This work is expected to improve project access and future logistics in terms of the transport of people, equipment, materials and product to and from the project.

Travel restrictions eased


The WA Government also announced a further phased lifting of intrastate travel restrictions which is expected to clear the way for the resumption of field activities and for the companys maiden exploration aircore drilling program to begin next quarter.

SOP targets defined


Read More – Source

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Australia

Australian Potash adds $2.23 million to bank on completing rights issue

Australian Potash Ltd (ASX:APC) has completed its rights offer of one share for every seven shares held at an issue price of 5 cents, with applications received for over 70% of the entitlements offered.

The company raised about $2.23 million via the rights offer which complements the $2 million placement completed in April 2020.

Lake Wells Sulphate of Potash Project[hhmc]
APC holds a 100% interest in the Lake Wells Sulphate of Potash Project (LSOP) in Western Australia's Eastern Goldfields.

Following the release of the Definitive Feasibility Study (DFS) in August 2019, APC is focused on the Front-end Engineering Design (FEED) study, finalising offtake discussions and securing financing to develop the LSOP.

Offtake deals and approvals progressing well[hhmc]
APC managing director and CEO Matt Shackleton said: “The strong vote of support shown by our shareholders through this rights issue is very encouraging.

“There is clear recognition of the continued good work the APC team ar..

Australian Potash Ltd (ASX:APC) has completed its rights offer of one share for every seven shares held at an issue price of 5 cents, with applications received for over 70% of the entitlements offered.

The company raised about $2.23 million via the rights offer which complements the $2 million placement completed in April 2020.

Lake Wells Sulphate of Potash Project


APC holds a 100% interest in the Lake Wells Sulphate of Potash Project (LSOP) in Western Australia's Eastern Goldfields.

Following the release of the Definitive Feasibility Study (DFS) in August 2019, APC is focused on the Front-end Engineering Design (FEED) study, finalising offtake discussions and securing financing to develop the LSOP.

Offtake deals and approvals progressing well


APC managing director and CEO Matt Shackleton said: “The strong vote of support shown by our shareholders through this rights issue is very encouraging.

“There is clear recognition of the continued good work the APC team are doing on the offtake program, where just under 50% of the planned production is now contracted; the approvals pathway, where we recently received consent from the Environmental Protection Authority to commence minor works on site and our Environmental Review Document is progressing steadily through the approvals process; and financing, where we have experienced project debt providers in our data room conducting due diligence.

“The changes we have been making through the FEED program are yielding some quite outstanding results, including reducing the LSOPs already low carbon footprint and improving logistics.

30-year mine life producing 150,000 tonnes per annum


Shackleton added: “The building blocks are all here: a major JORC compliant Measured Resource estimate that is the largest in class, a methodical, thorough and detailed sequence of studRead More – Source

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Australia

Perseus Mining Exore acquisition will provide near-mine gold ounces

Perseus Mining Limited (ASX:PRU) (TSE:PRU) (OTCMKTS:PMNXF) is acquiring Exore Resources Ltd (ASX:ERX) (OTCMKTS:NLIOF) which will result in Perseus gaining a gold project near its Sissingué Gold Mine in Côte dIvoire.

The parties have entered into a Scheme Implementation Deed which will see Perseus acquire 100% of Exore and the agreement provides a fully diluted equity value of A$59.8 million based on PRUs 10 trading day VWAP.

Resources near Sissingué[hhmc]
Exore will exercise its pre-emptive right to acquire the remaining 20% of the Bagoe and Liberty projects from Apollo Consolidated Limiteds in northern Côte dIvoire for US$4.5 million to obtain 100% ownership.

Bagoe has a maiden JORC-compliant indicated gold resource of 90,000 ounces with a further 440,000 ounces in the inferred category and is within trucking distance of the Sissingué Gold Mine.

“Creating value for shareholders”[hhmc]
Perseus managing director and CEO Jeff Quartermaine said: “The acquisition of Exore results in Pe..

Perseus Mining Limited (ASX:PRU) (TSE:PRU) (OTCMKTS:PMNXF) is acquiring Exore Resources Ltd (ASX:ERX) (OTCMKTS:NLIOF) which will result in Perseus gaining a gold project near its Sissingué Gold Mine in Côte dIvoire.

The parties have entered into a Scheme Implementation Deed which will see Perseus acquire 100% of Exore and the agreement provides a fully diluted equity value of A$59.8 million based on PRUs 10 trading day VWAP.

Resources near Sissingué


Exore will exercise its pre-emptive right to acquire the remaining 20% of the Bagoe and Liberty projects from Apollo Consolidated Limiteds in northern Côte dIvoire for US$4.5 million to obtain 100% ownership.

Bagoe has a maiden JORC-compliant indicated gold resource of 90,000 ounces with a further 440,000 ounces in the inferred category and is within trucking distance of the Sissingué Gold Mine.

“Creating value for shareholders”


Perseus managing director and CEO Jeff Quartermaine said: “The acquisition of Exore results in Perseus gaining ownership of approximately 2,000 square kilometres of geologically prospective land in northern Côte dIvoire, close to our operating Sissingué Gold Mine.

“Sissingué has a mine life of three years from July 1, 2020, and with the acquisition of Exores land package, including defined mineral resources, we have the option of developing Bagoe into a new mine potentially using the Sissingué infrastructure, or alternatively, delineating further mineral resources that can be economically mined and trucked to our Sissingué plant for processing.

“Either option provides an opportunity to continue creating value for Perseuss shareholders.”

Exore recommendation


Exores board unanimously recommends that Exore shareholders vote in favour of the scheme, in the absence of a superior proposal and subject to an independent experts report concluding that the scheme is in the best interests of shareholders.

Acquisition of the remaining interest in the projects will be funded by Exore from its existing cash.

Scheme consideration


The scheme consideration of A$59.8 million is calculated on a fully diluted basis applying a purchase price of A9.8 cents per share and this is based on Perseuss 10 trading day VWAP.

Consideration will be paid in the form of shares in Perseus with each Exore shareholder receiving 1 Perseus share for every 12.79 Exore shares held.

This share swap ratio is based on the 10-day VWAP of Perseus shares on June 2, 2020, and implies a price of A10.5 cents per Exore share based on Perseuss closing share price on that date.

This consideration represents a premium of:

  • • 69% to Exores closing share price of A$0.062 on June 2, 2020; and
  • • 78% to the 20-trading day VWAP of Exore of A$0.059, up to and including June 2, 2020.

Highly prospective ground


Exore holds around 2,000 square kilometres of highly prospective land in northern Côte dIvoire, near the Sissingué mine.

An 80% joint venture in exploration permits making up the Bagoe and Liberty projects, which cover 816 square kilometres, was acquired from Apollo in December 2018.

Exore then expanded this position through additional earn-in and joint venture agreements with local Ivorian groups.

This area is relatively under-explored but known to host geological structures on which several significant gold discoveries have previously been made.

JORC resource


The JORC-compliant resource at Bagoe comprises an indicated resource of 750,000 tonnes at 3.5 g/t for 90,000 ounces and inferred resources of 5.85 million tonnes at 2.3 g/t for 440,000 ounces.

Exore managing director Justin Tremain said: “The board of Exore believes the proposed transaction with Perseus represents compelling vaRead More – Source

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