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Moho Resources launches $2.4 million share purchase plan to fund gold exploration at Silver Swan North

Moho Resources Ltd (ASX:MOH) has launched a share purchase plan where existing eligible shareholders will have the opportunity to acquire up to $30,000 worth of ordinary shares at an issue price of 13 cents per share, to raise up to $2,391,949, before costs.

Funds raised from the SPP will be used primarily at the companys 100%-owned Silver Swan North Gold Project near Kalgoorlie, with a focus on advancing exploration and development of the highly prospective East Sampson Dam prospect.

The company also intends to allocate funds to advance gold exploration at the Burracoppin Project in the WA Wheatbelt and the Empress Springs Project near Croydon in Queensland.

SPP terms[hhmc]
If total SPP applications received exceed the target amount, the company directors reserve the right to scale back applications at their absolute discretion, on an equitable basis.

Eligible shareholders will be posted the SPP offer document together with their personalised application form in accordance with th..

Moho Resources Ltd (ASX:MOH) has launched a share purchase plan where existing eligible shareholders will have the opportunity to acquire up to $30,000 worth of ordinary shares at an issue price of 13 cents per share, to raise up to $2,391,949, before costs.

Funds raised from the SPP will be used primarily at the companys 100%-owned Silver Swan North Gold Project near Kalgoorlie, with a focus on advancing exploration and development of the highly prospective East Sampson Dam prospect.

The company also intends to allocate funds to advance gold exploration at the Burracoppin Project in the WA Wheatbelt and the Empress Springs Project near Croydon in Queensland.

SPP terms


If total SPP applications received exceed the target amount, the company directors reserve the right to scale back applications at their absolute discretion, on an equitable basis.

Eligible shareholders will be posted the SPP offer document together with their personalised application form in accordance with the below timetable:

  • Record date (for identifying shareholders entitled to participate in the SPP) of July 29, 2020;
  • Announcement date of July 30, 2020;
  • Despatch offer document (SPP offer materials dispatched to eligible shareholders) of August 7, 2020;
  • Opening date of August 7, 2020;
  • Closing date of August 28, 2020;
  • Completion date (results of the SPP announced by the company) of September 2, 2020;
  • Allotment date of September 8, 2020; and
  • Quotation and despatch date of September 8, 2020.

The company directors have advised that they intend to participate in the SPP.

JMEI Scheme success


The company has also advised that it has been notified by the Australian Taxation Office (ATO) that its application to participate in the Junior Mineral Exploration Incentive (JMEI) Scheme has been accepted.

The company has received an allocation of up to $1.05 million of exploration credits for the financial year ended June 30, 2021.

The JMEI Scheme applies to Australian residents who acquire new shares in mineral exploration companies that carry out greenfields mineral exploration in Australia that have received an exploration credit allocation.

Eligible investors must be Australian resident shareholders who apply for and are issued shares in Mohos capital raising activities during the 2021 income year.

JMEI credits will be distributed to all elRead More – Source

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Australia

THC Global plans to accelerate medicinal cannabis production on back of strong June quarter

THC Global Group Ltd (ASX:THC) reached several milestones in the June quarter, supplying its first Australian patient with Canndeo branded medicinal cannabis medicines produced at its Southport Facility.

The roll-out of the full suite of the Canndeo medicines range is continuing throughout this quarter and will see the launch of eight new medicine formulations for Australian patients.

THC is also preparing for its maiden export of Canndeo branded medicines to Europe and Canada, with supply expected to commence in quarter three for Canada and quarter four for Europe.

New Zealand exports[hhmc]
In addition to medicinal cannabis sales under the Canndeo brand, THC is now a manufacturer for both Cannatrek and Medleaf Therapeutics.

Under the agreements with Cannatrek and Medleaf, THC will produce and white-label cannabis medicines under those respective brands for sale in the Australian and New Zealand market.

The initial export order to New Zealand worth $260,000 is expected to be deliv..

THC Global Group Ltd (ASX:THC) reached several milestones in the June quarter, supplying its first Australian patient with Canndeo branded medicinal cannabis medicines produced at its Southport Facility.

The roll-out of the full suite of the Canndeo medicines range is continuing throughout this quarter and will see the launch of eight new medicine formulations for Australian patients.

THC is also preparing for its maiden export of Canndeo branded medicines to Europe and Canada, with supply expected to commence in quarter three for Canada and quarter four for Europe.

New Zealand exports


In addition to medicinal cannabis sales under the Canndeo brand, THC is now a manufacturer for both Cannatrek and Medleaf Therapeutics.

Under the agreements with Cannatrek and Medleaf, THC will produce and white-label cannabis medicines under those respective brands for sale in the Australian and New Zealand market.

The initial export order to New Zealand worth $260,000 is expected to be delivered by the company in October.

Tetra Health


The Companys newly acquired clinic network, Tetra Health, has seen significant growth since acquisition with an increase of over 30% in patient enquiries in June alone.

Tetra Health is a key strategic asset for the company in seeking to bridge the affordability gap for cannabis medicines in Australia by providing low cost of access for new patients and product-independent guidance on medicines.

Hydroponics equipment


As announced in early July, the companys hydroponics equipment and cultivation solutions provider achieved its maiden $3 million unaudited half-year trading revenue milestone in June 2020, with total first half 2020 unaudited revenue reaching $3.2 million, being around a 50% increase over the prior period.

The launch of new product and service offerings targeted at the micro-cultivator and home-cultivator sectors through the year is expected to drive further revenue growth.

Difficulties in sourcing and transporting of merchandise from major Asian manufacturing hubs experienced in quarter one due to COVID-19 appear to have partially subsided over quarter two.

As the company noted in its quarter one update, these delays have affected the timing of cash receipts from customers but is unlikely to significantly affect revenue over a longer time scale given pending customer orders are fulfilled as stock is landed in Canada.

THC is preparing for its maiden export of Canndeo branded medicines to Europe and Canada

$8.1 million capital raising


During the quarter, the company completed an institutional placement to raise $6.6 million and a subsequent share purchase plan which raised a further $1.5 million, taking the total capital raised to $8.1 million at 30 cents per share.

Funds will be primarily applied towards enhancing the THCs working cRead More – Source

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Australia

Yandal Resources completes shortfall in $3.3 million non-renounceable rights issue

Yandal Resources Ltd (ASX:YRL) has issued the remaining shortfall shares under the 1 for 5 non-renounceable pro-rata rights issue to raise a total of $3.3 million before costs.

On June 12, the company directors announced a pro-rata non-renounceable rights offer to accelerate the Gordons project as well as the Mt McClure project in Western Australia.

Under the rights issue, eligible shareholders were offered the opportunity to acquire one new share for every five shares held at the record date on June 17 at an issue price of 25 cents per new share.

A total of 1.32 million shortfall shares have now been issued for $330,000

Exploration well-funded[hhmc]
The company plans to progress the feasibility study at its Flushing Meadows prospect at the Ironstone Well Project in the September quarter.

Exploration will also continue at the Gordons Dam prospect.

Yandal is well funded for drill programs which were postponed in the June quarter and will be completed in the September quarter.

The..

Yandal Resources Ltd (ASX:YRL) has issued the remaining shortfall shares under the 1 for 5 non-renounceable pro-rata rights issue to raise a total of $3.3 million before costs.

On June 12, the company directors announced a pro-rata non-renounceable rights offer to accelerate the Gordons project as well as the Mt McClure project in Western Australia.

Under the rights issue, eligible shareholders were offered the opportunity to acquire one new share for every five shares held at the record date on June 17 at an issue price of 25 cents per new share.

A total of 1.32 million shortfall shares have now been issued for $330,000

Exploration well-funded


The company plans to progress the feasibility study at its Flushing Meadows prospect at the Ironstone Well Project in the September quarter.

Exploration will also continue at the Gordons Dam prospect.

Yandal is well funded for drill programs which were postponed in the June quarter and will be completed in the September quarter.

These include:

  • 21 AC holes for 2,500 metres at the Flushing Meadows North prospect;
  • 6 AC holes for 720 metres at the Flushing Meadows South prospect;
  • 3 RC holes for 200 metres Read More – Source
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Australia

Nanoveu in back-to-back trading halts ahead of capital raising news

Nanoveu Ltd (ASX:NVU) has been granted back-to-back trading halts by the ASX pending a capital raising announcement.

The trading halt will be in place until the announcement is made or the start of normal ASX trading on Friday, August 7, whichever occurs sooner.

Distribution agreements [hhmc]
Nanoveu recently signed distribution agreements for its antiviral protection products for the Thai and Malaysian markets with Sanyo Trading Company Ltd.

Through these agreements, Sanyo will look to leverage its extensive contacts in the Asia-Pacific region to distribute several Nanoveus products to groups including hospitals, banks, schools and shopping malls.

Nanoveu will ship its business to business (B2B) rolls of antiviral film – to be applied to an increasing number of surfaces – in addition to its consumer-focused antiviral mobile phone cases and doorRead More – Source

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Nanoveu Ltd (ASX:NVU) has been granted back-to-back trading halts by the ASX pending a capital raising announcement.

The trading halt will be in place until the announcement is made or the start of normal ASX trading on Friday, August 7, whichever occurs sooner.

Distribution agreements


Nanoveu recently signed distribution agreements for its antiviral protection products for the Thai and Malaysian markets with Sanyo Trading Company Ltd.

Through these agreements, Sanyo will look to leverage its extensive contacts in the Asia-Pacific region to distribute several Nanoveus products to groups including hospitals, banks, schools and shopping malls.

Nanoveu will ship its business to business (B2B) rolls of antiviral film – to be applied to an increasing number of surfaces – in addition to its consumer-focused antiviral mobile phone cases and doorRead More – Source

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