Financial sector strength hasn’t been enough to boost Canada’s Main Stock Index as of late. Mounting losses from the energy, health care, and industrials indexes have combined to keep the TSX lower. However, it is gains among shares in the technology and mining sectors that have helped give some lift.
This is a shortened trading week as markets were closed on Monday for the Labour Day holiday.
Wall Street indexes have also been split on worries over the slowing pace of economic recovery overshadowed hopes that the Federal Reserve would maintain its accommodative stance a little longer after a soft US payrolls report.
New Found Gold (TSX-V: NFG, Forum) just received
assay results from seven holes drilled at the Lotto Zone, located approximately 2 km north of the Keats Zone discovery.
These holes were completed as part of the Company's ongoing 200,000 m diamond drill program at its 100% owned Queensway Project, located on the Trans-Canada Highway 15 km west of Gander, Newfoundland.
Highlights:
| Hole No. |
From
(m) |
To (m) |
Interval
(m)* |
Au (g/t) |
Zone |
| NFGC-21-233 |
169.20 |
171.85 |
2.65 |
111.36 |
Lotto Main |
| NFGC-21-278 |
131.35 |
133.40 |
2.05 |
15.54 |
Lotto Main |
| NFGC-21-311 |
294.65 |
297.45 |
2.80 |
76.81 |
Lotto Main |
| Including |
294.65 |
296.55 |
1.90 |
112.51 |
First Cobalt Corp. (TSX-V: FCC, Forum) announced that
Kuya Silver Corporation (CSE: KUYA, Forum) has given notice of intention to exercise an option to earn a 70% interest in all of First Cobalt's remaining mineral rights in the
Canadian Cobalt Camp.
Kuya had previously acquired a 100% interest in a property package surrounding the Kerr Lake area for $4 million. Kuya also received a six-month option to elect to exercise to earn up to a 70% interest in First Cobalt's remaining Cobalt Camp assets for an additional $1 million in cash or Kuya shares.
A Canadian‐based silver‐focused mining company, Kuya owns the Bethania Project, which includes the Bethania mine, located in Central Peru.
Meanwhile,
Noront Resources Ltd. (TSX-V: NOT, Forum) and its Board of Directors has received an arrangement agreement from
Wyloo Metals.
This provides the terms and conditions of the potential transaction proposed by Wyloo to acquire all the outstanding common shares of Noront for $0.70 per share. Noront and its advisors are reviewing the arrangement agreement and the Noront Board and Special Committee remain focused on fulfilling their fiduciary duties and on surfacing maximum value for the Noront shareholders.
Noront intends to negotiate with Wyloo directly with a view to maintaining the best interests of Noront minority shareholders. Noront confirms it has signed and returned to Wyloo a confidentiality agreement, thus allowing Wyloo the ability to conduct due diligence on the terms it requested. Noront views the terms and conditions of its initial confidentiality agreement and of the support agreement with
BHP Western Mining Resources International Pty Ltd. and its parent,
BHP Lonsdale Investments Pty Ltd. as entirely in line with prevailing market practice; however, Noront sought and received the agreement of BHP to enter into the modified form of Confidentiality Agreement requested by Wyloo in order to facilitate completion of due diligence by Wyloo.
Wyloo’s assertions that, among other things, the exercise of options and share awards by Noront officers and directors is unusual is simply incorrect.
The acceleration provisions provided in the Support Agreement for the options and share awards are also customary for a transaction of this nature and are fully disclosed in the Support Agreement and other public filings relating to the proposed transaction with BHP.
As is customary, the lock-up agreements BHP entered with the directors and officers of Noront will automatically terminate if the Support Agreement is terminated in accordance with its terms, including if Noront terminates the Support Agreement to accept a superior proposal.
Focused on the development of its high-grade Eagle’s Nest nickel, copper, platinum, and palladium deposit Noront Resources also possesses chromite deposits including Blackbird, Black Thor, and Big Daddy, all of which are in the James Bay Lowlands of Ontario in an emerging metals camp known as the Ring of Fire.
Some exciting news from tech developer and provider
Quarterhill Inc. (TSX:QTRH, Forum), who closed the acquisition of 100% of the outstanding equity of Texas-based
Electronic Transaction Consultants, LLC (ETC), an Intelligent Transportation Systems company that is focused on tolling and mobility systems.
Quarterhill now has a leadership position in the US tolling market following the acquisition, where ETC serves some of the largest transportation authorities, including those in Texas, California, and Illinois. On a post-synergy basis, within the next 12-18 months, Quarterhill estimates that ETC will generate annualized revenue between $95.0 to $120 million.
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Data intelligence company
Fobi AI Inc. (TSX-V: FOBI, Forum) has entered into a
data aggregation and analytics partnership with SaaS provider
Lightspeed POS Inc. (TSX: LSPD, LGHEF, Forum).
The Fobi App has now launched within the Lightspeed ecosystem and is available for download by Lightspeed customers.
With the recent acquisitions of Vend and NuORDER, Lightspeed has greatly increased its global footprint and total customer locations worldwide to become a global leader in the commerce space. Lightspeed’s GM of Partnerships & Hospitality Peter Dougherty spoke about the partnership.
“Lightspeed is committed to providing innovative tools that will help our retailers succeed. We are excited to offer Fobi’s integration in the Lightspeed partner ecosystem, as this will empower our customers with more tools to grow and scale their business.”
Fobi CEO Rob Anson remarked,
“Lightspeed’s support of Fobi’s integration to their platform cannot be understated as it speaks volumes about their confidence in Fobi as a premiere retail data solution provider. With our integration now complete, both Fobi and Lightspeed are positioned to generate new sales opportunities through this successful partnership.”
Key benefits of the integration include:
- Saves Lightspeed retailers time. Retailers can see aggregated online and in-store data in real-time across multiple POS systems and Lightspeed accounts. There is no need to spend time exporting and consolidating data.
- Provides Lightspeed retailers with real-time insights. Retailers can make informed data-driven business decisions based on powerful micro-trend, demographic, macro-level data and retail metrics.
- Helps Lightspeed retailers grow and scale their business. With visualization of every data touchpoint, retailers can view their sales history and see year-over-year growth across their entire business operations to help forecast and plan the future of their business with AI data forecasting and segmentation.
According to a recent report published by Allied Market Research, the global cloud POS market size was valued at $2.24 billion in 2020 and is projected to reach $13.24 billion by 2028. This makes the global cloud POS market one of the fastest-growing markets in the world, and one that Fobi and Lightspeed will now be able to target together.
Powering the businesses that are the backbone of the global economy, Lightspeed's one-stop commerce platform helps merchants innovate to simplify, scale, and provide exceptional customer experiences. The cloud solution transforms and unifies online and physical operations, multichannel sales, expansion to new locations, global payments, financing, and connection to supplier networks.
Fobi helps clients turn real-time data into actionable insights and personalized customer engagement to generate increased profits. Fobi's unique IoT device has the ability to integrate seamlessly into existing infrastructure to enable data connectivity across online and on-premises platforms creating highly scalable solutions for our global clients. Fobi operates globally in the retail, telecom, sports and entertainment, casino gaming, and hospitality and tourism industries.
(Image via Kontrol Energy Corp.)
Engaged in the business of smart buildings and cities through IoT, cloud, and SaaS technology,
Kontrol Energy Corp. (CSE: KNR, Forum) reported on Tuesday that it is expanding its BioCloud technology to new customers in Australia, France, Belgium, Turkey, and Germany.
In
a media release on this news for investors, KNR’s Chief Executive Officer Paul Ghezzi said that Real-time air quality monitoring and the need to create safer spaces has never been more important to get back to normal across the global economy.
“Innovation is at the heart of our business, and we are pleased to expand the use of our unique air quality technology by entering additional markets with new customers. We continue to enhance BioCloud through ongoing software updates and expanded applications. We are pleased with our updated independent lab testing and we will continue to focus on growing our IP moat by expanding our patent portfolio to create long-term value for our stakeholders.”
In an update on its software, the company added that Kontrol BioCloud has released its new software update focused on an improved graphical user interface, enhancements to data logging, data exporting and more. Software releases are planned for up to three times per year with continuous enhancements and new features based on customer feedback.
An operating subsidiary of Kontrol Technologies, Kontrol BioCloud is technology is a real-time analyzer designed to detect airborne viruses and pathogens. BioCloud is an air quality technology and not a medical device. BioCloud has been designed to operate as a safe space technology by sampling the air quality continuously.
A rapidly growing global telemedicine company, Hamilton, Ontario-based
Reliq Health Technologies Inc. (TSX-V:RHT, Forum) will provide its iUGO Care platform, Care Management Services, and medical monitoring devices to more than 2,500 Medicare Advantage Cardiology patients in Puerto Rico, through its partnership with
digiiMED.
digiiMED is a digital medicine services company that works with clinical providers and patients throughout Puerto Rico and Latin America. Using Reliq's iUGO Care Software, digiiMED allows providers to manage their patient's chronic conditions, adjust medications and make treatment decisions based on real time data.
Reliq specializes in developing innovative Virtual Care solutions for the multi-billion-dollar healthcare market. The iUGO Care technology platform is a comprehensive SaaS solution that allows complex chronic disease patients to receive high-quality care in the home or other community-based setting thereby improving health outcomes, enhancing the quality of life for patients and families, and reducing the cost of care delivery.
The company expects to generate an average revenue of $40 per patient per month for this deployment, as well as a one-time payment of more than $500,000 (USD) for supplying devices. Onboarding has already started and is expected to be completed by the end of calendar 2021.
(Image Via Taat Global Alternatives Inc.)
TAAT Lifestyle & Wellness Ltd. (CSE: TAAT, Forum) has started to operate out of its
new facilities in the Las Vegas, Nevada area, providing significant additional operational space and production resources in combination with its original facility on West Post Road.
Since announcing the move back in the summer, TAAT has made new purchase orders for distribution in the United Kingdom, Ireland, and Australia amounting to more than $1,600,000 (CAD) in total value, in addition to distribution of TAAT in seven new US states in just a two-month period. Still in just its third full calendar quarter of retail availability, global demand for TAAT has grown steadily over the course of 2021 as the Company has diligently coordinated strategic launches in a wide range of markets.
Finally, Medical company
StageZero Life Sciences Ltd. (TSX: SZLS, Forum) has completed its acquisition of the business of
Health Clinics Limited. The Acquisition was completed through the acquisition of all of the shares of
Clinics Operations Ltd., a provider of specialist clinical services across Europe and North America, and a wholly owned subsidiary of
Health Clinics Ltd., and the acquisition of substantially all of the assets of
Health Clinics USA, Corp., a company in which Health Clinics Ltd. holds significant ownership interest.
Via the news, StageZero Life Sciences Chairman & CEO James Howard-Tripp called this acquisition a transformational milestone in the history of the company.
“The combination of StageZero and Health Clinics has created a one-of-a-kind, vertically-integrated healthcare company offering next-generation diagnostic capabilities, clinically-validated and personalized adjuvant protocols, an advanced telemedicine platform and a broad physician network to provide continuity of care for any patient, anywhere. As a combined company, we are excited to provide a complete solution to help patients reduce the risk of developing and slowing the progression of cancer through early interventions. We are now an integrated company and as of today will generate consolidated revenue.”
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And last week’s results …
The first week of September has already given us a wild market ride and some small-cap stocks that the Stockhouse Bullboards have gotten excited about. Next week will probably bring more of the same, and the weekly Buzz on the Bullboards review will be here to bring you some hot stocks. For previous editions of Buzz on the Bullboards:
click here.