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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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Paradigm Biopharmaceuticals set to release results of FDAs IND expanded access program for Zilosul osteoarthritis treatment

Paradigm Biopharmaceuticals Ltd (ASX:PAR) expects to release results for its Zilosul treatment for osteoarthritis under the US Food and Drug Administration's (FDA) Investigational New Drug expanded access program (EAP) in early August.

The results will include a video detailing the patients under the EAP and their previous struggles with osteoarthritis caused by joint issues during their professional NFL careers and will highlight outcomes and results after completion of the Zilosul ® treatment program.

All patients have completed their follow-up screenings and the EAP database has been locked for data cleaning and preparation of patient results.

The company said it remained focused on its IND submission to the FDA for the remainder of 2020.

The Paradigm team and its consultants continue to compile the necessary information and data for submission towards the end of the fourth quarter.

Shares have been as much as 13.5% higher to $3.21.

TGA submission[hhmc]
Paradigm Biopharma..

Paradigm Biopharmaceuticals Ltd (ASX:PAR) expects to release results for its Zilosul treatment for osteoarthritis under the US Food and Drug Administration's (FDA) Investigational New Drug expanded access program (EAP) in early August.

The results will include a video detailing the patients under the EAP and their previous struggles with osteoarthritis caused by joint issues during their professional NFL careers and will highlight outcomes and results after completion of the Zilosul ® treatment program.

All patients have completed their follow-up screenings and the EAP database has been locked for data cleaning and preparation of patient results.

The company said it remained focused on its IND submission to the FDA for the remainder of 2020.

The Paradigm team and its consultants continue to compile the necessary information and data for submission towards the end of the fourth quarter.

Shares have been as much as 13.5% higher to $3.21.

TGA submission


Paradigm Biopharmaceuticals is continuing to prepare information requested by the Therapeutic Goods Administration (TGA) for the next stage of submission for the Provisional Approval determination for the use of Zilosul in the treatment of osteoarthritis.

It will update the market on the progress of this process in the fourth quarter this year.

There is additional new data on 67 patients treated under the Special Access Scheme (SAS) program and the company expects to report on 35 patients in the third quarter with the remaining patient data expected to be available in early fourth quarter this year.

The data will be presented, using the same endpoints and product identified for Paradigms Phase 3 trials. This will take the total number of SAS patients reported on with the proposed Phase 3 endpoints to over 100 patients.

Commercial research deal


Paradigm Biopharmaceuticals is in the process of finalising a commercial research agreement with an unnamed Australian university.

The research program will investigate the safety and efficacy of injectable Pentosan Polysulfate Sulfate (iPPS) in a viral-induced respiratory disease model.

Additional details on this agreement will be released to the market once this has been completed.

Proposed Phase III


The primary and secondary endpoints for Paradigms proposed Phase 3 trial will be

➢ Reduced WOMAC (Western Ontario and McMaster Universities Arthritis Index) pain from baseline; and

➢ Improved Patient Global Impression of Change (PGIC).

Paradigm plans to conduct two randomized controlled Phase 3 clinical trials consisting of 750 patients in the first Phase 3 trial and 400 patients in the second Phase 3 trial (confirmatory study).

MPS-1


Paradigm expects to receive notification from the Ethics Committee on its MPS-1 (Mucopolysaccharidosis) clinical program in the current quarter.

It is also expecting feRead More – Source

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Nexus Minerals advances gold strategy with Pinnacles JV feasibility study and Wallbrook drilling

Nexus Minerals Ltd (ASX:NXM) is progressing its gold strategy centred on WAs Eastern Goldfields with a feasibility study underway on the Pinnacles joint venture (JV) project and reverse circulation (RC) drilling to start this month at the Wallbrook project.

The JV with Saracen Mineral Holdings Limited (ASX:SAR) has started work on the Pinnacles feasibility study following positive results from an independent scoping study, which paves the way for the project to advance rapidly.

Study work[hhmc]
As part of the study, Nexus is determining the feasibility of the open cut potential of the Pinnacles East gold resource area with deeper mineralisation to be considered as a potential underground operation.

The study will incorporate additional resource definition drilling, geotechnical drilling, environmental studies and metallurgical test-work along with other key assessments and permitting.

Pinnacles JV project location.

In association with consultants, the company is set to complete th..

Nexus Minerals Ltd (ASX:NXM) is progressing its gold strategy centred on WAs Eastern Goldfields with a feasibility study underway on the Pinnacles joint venture (JV) project and reverse circulation (RC) drilling to start this month at the Wallbrook project.

The JV with Saracen Mineral Holdings Limited (ASX:SAR) has started work on the Pinnacles feasibility study following positive results from an independent scoping study, which paves the way for the project to advance rapidly.

Study work


As part of the study, Nexus is determining the feasibility of the open cut potential of the Pinnacles East gold resource area with deeper mineralisation to be considered as a potential underground operation.

The study will incorporate additional resource definition drilling, geotechnical drilling, environmental studies and metallurgical test-work along with other key assessments and permitting.

Pinnacles JV project location.

In association with consultants, the company is set to complete the following feasibility study components with results expected in late 2020:

  • Reverse circulation (RC) and diamond drilling to begin in August;
  • Geotechnical studies commenced;
  • Metallurgical studies commenced;
  • Environmental studies commenced; and
  • Mining Proposal preparation underway.

Nexus remains in the process of conducting preliminary confidential discussions to secure funding for the start of production.

These current discussions focus on working towards a gold repurchase and funding agreement to provide funding of approximately $5 million.

Wallbrook drilling


An exploration RC drilling program is set to begRead More – Source

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Australia

eSense-Lab achieves key milestones that validate commercialisation model for terpenes

eSense-Lab Ltd (ASX:ESE) continues to achieve strategic and operational milestones as it progresses a commercialisation strategy for evidence-based terpene product development for medicinal and wellness uses.

Signed contracts and partnership agreements during the first half of 2020 have positioned the company to increase sales and revenue growth as it demonstrates the broad range of applications for its terpenes.

Contracts and JVs[hhmc]
In this period eSense has secured three agreements to supply its unique terpenes across multiple revenue-generating markets.

An exclusive sales agency contract has also been executed targeting A$10 million of product sales in the lucrative US market over five years.

eSense has signed joint venture agreements with initial orders anticipated to provide revenue of approximately A$950,000 to the company and it is working towards more large revenue joint-venture opportunities.

Establishing joint ventures for mutual development of products with different..

eSense-Lab Ltd (ASX:ESE) continues to achieve strategic and operational milestones as it progresses a commercialisation strategy for evidence-based terpene product development for medicinal and wellness uses.

Signed contracts and partnership agreements during the first half of 2020 have positioned the company to increase sales and revenue growth as it demonstrates the broad range of applications for its terpenes.

Contracts and JVs


In this period eSense has secured three agreements to supply its unique terpenes across multiple revenue-generating markets.

An exclusive sales agency contract has also been executed targeting A$10 million of product sales in the lucrative US market over five years.

eSense has signed joint venture agreements with initial orders anticipated to provide revenue of approximately A$950,000 to the company and it is working towards more large revenue joint-venture opportunities.

Establishing joint ventures for mutual development of products with different partners allows the company to position itself across multiple revenue-generating markets.

Post-COVID applications


eSense CEO Itzik Mizrahi said: “We have worked hard to achieve a number of strategic and operational milestones over the last four months and are proud of the progress to date.

"In addition to their therapeutic and wellness benefits, our terpenes have exciting possible applications in a post-COVID world and are focused on being well-positioned to service this growing market.

"We are hard at work continuing to pursue more joint-venture opportunities and researching further potential applications of our technology.”

Leveraging core technology


The company has also made important changes to its leadership team and business strategy as it seeks to best leverage its core terpenes technology for revenue growth.

Under this guidance eSense has signed agreements across a range of markets:

  • SeaLaria (LOI) – Therepeutic skin creams and sanitiser;
  • ANC – Skin care, hair care and hand sanitiser;
  • Wise Wine – Hand and surface sanitisers; and
  • Blue Science – Hand and surface sanitisers.

This approach is favoured by eSense as it reduces the upfront capital expenditure required to expand global reach and significantly reduces costs associated with sales and distribution.

Since inception of this strategy, the company has been able to leverage the distribution channels of its partners to gain access to four major global markets – Israel/Middle East, Australia, China and the US.

Key Blue Science agreement


A key agreement in the commercialisation strategy was signed this month through an exclusive Sales Agency Agreement with Blue Science Solutions Inc to expand into the worlds largest consumer market for terpenes-based products, the United States.

Blue Science is an established US-based company that delivers non-toxic cleaning and disinfecting solutions across a variety of industries.

Access to IBM network


A crucial aspect of this new partnership for eSense is access to the IBM Rapid Supplier Connect Network.

This network makes it possible for buyers and suppliers, including non-traditional suppliers joining the fight to help keep hospitals and key support organisations ready, to quickly find each other, accelerate verification and onboarding processes, and gain near real-time insights into inventories of life-saving equipment.

Other benefits for eSense include:

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