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Cassini Resources to be acquired by mid-tier OZ Minerals Limited

Cassini Resources Ltd (ASX:CZI) (FRA:ICR) has executed a scheme of arrangement under which mid-tier miner OZ Minerals Limited (ASX:OZL) (OTCMKTS:OZMLF) (FRA:OXR) will acquire all of the issued and to be issued shares of Cassini.

This binding scheme implementation deed will result in OZ Minerals consolidating 100% ownership of the West Musgrave Project and surrounding tenements to 100%.

Inter-conditional demerger[hhmc]
Cassini will also undertake an inter-conditional demerger of its Yarawindah Brook and Mount Squires assets into a new company, Caspin Resources Limited which intends to apply to list on the ASX.

Its shareholders will receive immediate value for the West Musgrave Project and ongoing exposure to upside from future project value, as well as Yarawindah Brook and Mount Squires, via Caspin.

The OZ Minerals deal alone at 16 cents per Cassini share provides an implied enterprise value of A$76 million as at June 19, 2020.

“Realising immediate value”[hhmc]
Cassini chief execut..

Cassini Resources Ltd (ASX:CZI) (FRA:ICR) has executed a scheme of arrangement under which mid-tier miner OZ Minerals Limited (ASX:OZL) (OTCMKTS:OZMLF) (FRA:OXR) will acquire all of the issued and to be issued shares of Cassini.

This binding scheme implementation deed will result in OZ Minerals consolidating 100% ownership of the West Musgrave Project and surrounding tenements to 100%.

Inter-conditional demerger


Cassini will also undertake an inter-conditional demerger of its Yarawindah Brook and Mount Squires assets into a new company, Caspin Resources Limited which intends to apply to list on the ASX.

Its shareholders will receive immediate value for the West Musgrave Project and ongoing exposure to upside from future project value, as well as Yarawindah Brook and Mount Squires, via Caspin.

The OZ Minerals deal alone at 16 cents per Cassini share provides an implied enterprise value of A$76 million as at June 19, 2020.

“Realising immediate value”


Cassini chief executive Richard Bevan said it was an opportune time for Cassini shareholders to realise value for the West Musgrave Project, whilst maintaining their exposure to the Yarawindah Brook and Mount Squires assets.

“In accepting the offer, Cassini shareholders are able to realise immediate value for their stake in the West Musgrave Project whilst retaining their exposure to the project via the OZ Minerals shares that form part of the consideration.

“In addition, we are excited to be launching a new company, that intends to apply for listing on the ASX (subject to regulatory approvals), and in which Cassini shareholders will receive pro-rata shares.

“Caspin will focus on the highly prospective exploration projects at Yarawindah Brook and Mount Squires.”

Cassinis securities have been up to 36% higher at 17 cent intra-day and closed 24$ higher at 15.5 cents.

Consideration


The consideration from OZ Minerals comprises:

  • A$0.15 in the form of one new OZL share for every 68.5 CZI shares held; and
  • A$0.01 per share cash capital return to be paid out of Cassinis existing cash balance.

This consideration, which excludes the Caspin shares, represents a premium of:

  • 31% to Cassinis 1-day VWAP price of A$0.123 per share, on June 19, 2020;
  • 31% to Cassinis 1-month VWAP of A$0.122 per share, up to and including June 19, 2020; and
  • 55% to Cassinis 3-month VWAP of A$0.103 per share, up to and including June 19, 2020.

Cassinis board has unanimously recommended the transaction and confirmed their intention to vote in favour of all resolutions.

Major shareholders, which represent 17.4% of issued capital, including Tinci Materials, have confirmed their intention to vote in favour of the transaction.

Enhancing OZL optionality


The acquisition scheme, which will result in OZ Minerals consolidating ownership of West Musgrave and surrounding tenements including One Tree Hill and Succoth, will enhance optionality regarding the optimal development approach, timing and funding for the project.

A pre-feasibility study (PFS) released in February 2020 showed West Musgrave to be a low-cost, long-life (26-year), copper-nickel open pit project with a low carbon footprint.

This project is in Western Australia near the borders of South Australia and the Northern Territory.

“Natural evolution”


OZ Minerals chief executive Andrew Cole said the acquisition was the natural evolution of a strong and effective working relationship with Cassini which had enabled agreement on the best value path forward for both parties.

“We appreciate the quality project Cassini introduced to OZ Minerals and we have valued theirRead More – Source

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Australia

THC Global targets product range expansion and entry into Asia Pacific, Latin America markets

THC Global Group Ltd (ASX:THC) plans to expand its product range and move into new territories in 2021 and beyond as it boosts production at its Southport facility to meet demand from New Zealand and Canadian markets.

The company is targeting to enter the Asia Pacific market in 2021+ with identified potential markets in Thailand, Malaysia, China, South Korea and Japan.

It also sees Latin American and other international opportunities to open with the pharma over-the-counter (OTC) cannabis scale-up.

THC Global operates across the cannabis supply chain, from cultivation, extraction, and direct patient and prescriber support services.

Milestones achieved[hhmc]
THC Global chairman Steven Xu said: “Over the past few months we have achieved several key milestones including launching our Canndeo medicines in Australia, supplying our first prescriptions and signing new production agreements.

“We look forward to building on top of these successes in the coming months and toward supporting ..

THC Global Group Ltd (ASX:THC) plans to expand its product range and move into new territories in 2021 and beyond as it boosts production at its Southport facility to meet demand from New Zealand and Canadian markets.

The company is targeting to enter the Asia Pacific market in 2021+ with identified potential markets in Thailand, Malaysia, China, South Korea and Japan.

It also sees Latin American and other international opportunities to open with the pharma over-the-counter (OTC) cannabis scale-up.

THC Global operates across the cannabis supply chain, from cultivation, extraction, and direct patient and prescriber support services.

Milestones achieved


THC Global chairman Steven Xu said: “Over the past few months we have achieved several key milestones including launching our Canndeo medicines in Australia, supplying our first prescriptions and signing new production agreements.

“We look forward to building on top of these successes in the coming months and toward supporting our target of 6,000 patients using a THC Global produced medicinal cannabis medicine by the end of 2020.”

Export markets


The company has secured agreements to export into Europe, New Zealand and Canada with effect from the third quarter of 2020, with the initial products focusing on CBD medicines range.

Its cannabis medicines are now competitively positioned for direct supply into Canada after receiving Health Canada licensing for Class I, II, III devices and Natural Health Products. Canada has an established market of more than 350,000 registered patients.

It has also inked deals with leading pharmaceutical distributors for New Zealand, as well as to provide prescriber support on cbdinfo.co.nz.

The first order from Medleaf Therapeutics in New Zealand has been received, with an initial supply of 2,250 bottles at $260,000, to be delivered on October 1, 2020.

This order is expected to support up to 800 patients in New Zealand on an ongoing basis.

THC Global is competitively positioned in the New Zealand market due to the requirement from October 2020 for the supply of all future medicines into the country, including future locally sourced medicines, to meet stringent registration requirements.

These include the provision of a six-month expiry date on medicines, which will be a significant time barrier on new market entrants based in New Zealand.

The European supply agreement with Germanys ACA Muller will see its products moving into more than 1,200 pharmacies across the European Union, with the first purchased supply into Europe expected in the fourth quarter this year.

THC Global is completing verification of Good Agricultural and Collecting Practice (GACP) supply for its external suppliers, which is a mandatory requirement for export into Europe.

The companys manufacturing facility is Good Manufacturing Practices (GMP) licensed by the Therapeutic Goods Administration in Australia and has reciprocal recognition across Europe in meeting EU-GMP requirements.

Domestic boost with rescheduling of CBD medicines


The company is also preparing for the rescheduling of CBD medicines in Australia, which is expected in the first quarter of 2021 and is readying products for the required specific Schedule 3 registration throughout 2020.

The Pharma Over-The-Counter (OTC) CBD medicines market will open supply to Australians via pharmacies without the need for a prescription.

THC believes it is the best placed to dominate this market with a global supply chain supplemented with large-scale, low-cost cultivation options and Australias largest capacity dedicated cannabis medicine manufacturing facility.

The value of the future Pharma OTC CBD medicines market has been projected to potentially exceed $200 million per year.

Spike in patient enquiries at Tetra Health


In June, Tetra Health, which THC Global acquired this year, received a 30% increase in patient inquiries and this trend is expected to continue.

In line with this, THC Global is expanding Tetra Healths clinical staff to ensure it can manage a continued increase in patients whilst ensuring a high level of patient support and care.

Tetra Health is a product-agnostic clinic, focused on medicinal cannabis prescribing, ongoing patient care and collecting real-world evidence on medicinal cannabis medicines.

It offers patients and prescribers a broad range of medicinal cannabis medicines, including THC Globals Canndeo medicines and medicines produced by THC Global uRead More – Source

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Australia

Peninsula Energy confirms strong director support for $40.3 million entitlement offer

Peninsula Energy Ltd (ASX:PEN) directors have acquired shares in the company via their participation in the recently completed $40.3 million entitlement offer.

Managing Director Wayne Heili acquired 1,290,476 shares, finance director/CFO David Coyne acquired 280,000 shares, non-executive chairman John Harrison added 37,800 shares and non-executive director Mark Wheatley bought 232,281 shares.

The newly acquired shares of Heili and Coyne also includes the vesting of previously approved Restricted Share Units and unlisted options to them.

Uranium production re-start strategy[hhmc]
The entitlement offer has allowed Peninsula to repay its existing term debt in full (principal amount of US$16.821 million (~$24.7 million) leaving the company cashed-up andRead More – Source

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Peninsula Energy Ltd (ASX:PEN) directors have acquired shares in the company via their participation in the recently completed $40.3 million entitlement offer.

Managing Director Wayne Heili acquired 1,290,476 shares, finance director/CFO David Coyne acquired 280,000 shares, non-executive chairman John Harrison added 37,800 shares and non-executive director Mark Wheatley bought 232,281 shares.

The newly acquired shares of Heili and Coyne also includes the vesting of previously approved Restricted Share Units and unlisted options to them.

Uranium production re-start strategy


The entitlement offer has allowed Peninsula to repay its existing term debt in full (principal amount of US$16.821 million (~$24.7 million) leaving the company cashed-up andRead More – Source

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Australia

Infinity Lithium releases 3D video showcasing sustainable San José Lithium Project

Infinity Lithium Ltd (ASX:INF) has released a 3D video showing reproductions of what the sustainable San Jose Valdeflórez Lithium Project in Cáceres, Spain, will look like.

The video, which lasts for about two minutes, showcases how the project is designed to guarantee the protection of the citys ecosystem with the responsible use of water and health protection initiatives.

This digital recreation shows details of the mining area, the industrial plant and the tailings as well as the continuous rehabilitation of the site.

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Europe's second-largest lithium deposit[hhmc]
San José Valdeflórez, which is the second-largest lithium deposit in the European Union, is set to put Cáceres on the map of the electric vehicle (EV) sector.

INF is working to develop a sustainable project that offers opportunities for the strategic development of a fully integrated supply chain for EVs in Europe

The video states Cáceres has the opportunity to set an example globally with a te..

Infinity Lithium Ltd (ASX:INF) has released a 3D video showing reproductions of what the sustainable San Jose Valdeflórez Lithium Project in Cáceres, Spain, will look like.

The video, which lasts for about two minutes, showcases how the project is designed to guarantee the protection of the citys ecosystem with the responsible use of water and health protection initiatives.

This digital recreation shows details of the mining area, the industrial plant and the tailings as well as the continuous rehabilitation of the site.

Europe's second-largest lithium deposit


San José Valdeflórez, which is the second-largest lithium deposit in the European Union, is set to put Cáceres on the map of the electric vehicle (EV) sector.

INF is working to develop a sustainable project that offers opportunities for the strategic development of a fully integrated supply chain for EVs in Europe

The video states Cáceres has the opportunity to set an example globally with a technology that is already changing the world – electric mobility.

Lithium supply strategy


Infinity recently strengthened its European lithium supply strategy by executing binding agreementRead More – Source

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