Metals One expects the second stage payment from Gunsynd (LON: GUN) for the farm-in agreement for the Black Schist project in Finland and discussions relating to options continue. The Gunsynd share price jumped 28% to 0.16p.
Investment company MaxRets Ventures (LON: MAX) reported net assets of £19,000 at the end of October 2023, down from £497,000. There was no new investment during the year. A transformative acquisition is being sought. The share price improved 18.2% to 6.5p.
The date for the completion of the acquisition of Best of Latin Foodstuff by Essentially Group (LON: ESSN) has been extended from 3 May to 31 May. This is to give time to gain regulatory approval. The share price rose 4.76% to 55p.
KR1 (LON: KR1) gained shareholder approval for the market acquisition of up to 14.99% of its shares. NAV was 132.05p/share at the end of March 2024, down from 134.6p/share one month earlier. There was £1.96m in income from digital assets during the month. The share price increased 4.7% to 78p.
FALLERS
Apollon Formularies (LON: APOL) has sent a general meeting notice for 28 May to gain approval of the cancelation of the Aquis quotation. The company is selling its IP to a Canadian company. The share price dived 63.2% to 0.035p.
Trading in Silverwood Brands (LON: SLWD) was restored following the completion of a capital reduction. The share price slumped 45% to 16.5p. Phoenix Asset Management increased its stake from 0.94% to 29.9%. In the first quarter a rebranding of Balmonds has disrupted sales. The costs of acquiring Cosme Science hit profitability of Sonotas.
Invinity Energy Systems (IES) raised £56m at 23p/share with £25m committed by the UK Infrastructure Bank and £3m from Korean Investment Partners. There is also an open offer to raise up to £6.6m. The share price slipped 6.12% to 23p. IES will use £30m to increase capacity ahead of the launch of the latest version of the Mistral flow battery.
Ananda Developments (LON: ANA) says the FSA-FSS cannabidiol safety assessment confirms the company’s strategy to undertake clinical trials and gain regulatory approvals. The MRX1 CBD formulation is about to be trialled in two phase II trials for pain relief of endometriosis and chemotherapy induced peripheral neuropathy. The share price fell 3.08% to 0.315p.
