|To: PamplonaTrader who wrote (4681)||2/25/2013 5:49:05 PM|
|Clermont Capital Inc. |
TSX VENTURE : XYZ.P
February 21, 2013 08:00 ET
Clermont Capital Announces Additional Financing For Its Qualifying Transaction and Special Meeting Date
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 21, 2013) -
Not for Distribution to United States Newswire Services or for Dissemination in the United States.
Clermont Capital Inc. (TSX VENTURE:XYZ.P) ("Clermont") is pleased to announce that further to its news release dated January 3, 2013 regarding its acquisition (the "Acquisition") of NexGen Energy Ltd. ("NexGen"), the Clermont special meeting of shareholders (the "Special Meeting") will be held on March 14, 2013, at which time the Clermont shareholders will be asked to approve a consolidation of Clermont's common shares on a 2.35 for one basis and a corporate name change to "NexGen Energy Ltd." or such other name as NexGen, Clermont and the appropriate regulatory authority may approve. Shareholders will also be asked to approve an increase to the number of directors from four to seven, and the election of 3 NexGen nominees to fill the resulting vacancies. An information circular for the Special Meeting has been mailed to shareholders and filed on SEDAR. The amalgamation will constitute Clermont's qualifying transaction for the purposes of TSXV policy 2.4.
In connection with the Acquisition, NexGen has engaged Secutor Capital Management Corporation and Marquest Capital Markets to complete an additional brokered private placement (the "Financing") consisting of "flow-through shares" of NexGen at a price of $0.425 per flow-through share, and units ("Units") at a price of $0.40 per Unit. Each Unit consists of one NexGen common share and one-half of one common share purchase warrant of NexGen entitling the holder thereof to purchase a NexGen common share at a price of $0.60 per NexGen common share for a period of two years following closing of the Financing. The Financing is in addition to the two prior financings conducted by NexGen in December 2012, pursuant to which NexGen raised approximately $3,085,000 in both flow through shares and subscription receipts, which shall automatically convert into non-flow through units, upon completion of the Acquisition.
NexGen Energy owns a portfolio of prospective uranium exploration assets in the Athabasca Basin in Saskatchewan including Rook 1, which lies immediately adjacent to the northeast of Alpha Minerals' and joint venture partner Fission Energy's Patterson Lake project. Alpha Minerals announced on Tuesday February 19th, 2013, that it had encountered 57.5m of high-grade uranium in hole PLS 13-038 located 385 meters east of the original discovery area. Interpretation of north east trending EM conductors on Rook 1 suggest that the same mineralized structures run northeast and onto NexGen's Rook 1 project. However, this may not be indicative of mineralization on Rook 1. Please see figure 1.
Clermont has received notice from the TSX Venture Exchange (the "Exchange") that the Technical Report on the Radio Property, S-113997, Saskatchewan, Canada, by J.A. McNutt, P.Geo., effective date September 25, 2012 has met Tier 2 ILR Requirements and is in compliance with National Instrument 43-101 Standards For Disclosure for Minerals Projects. The Radio Property is Clermont's qualifying property for purposes of the qualifying transaction.
Completion of the Acquisition is still subject to a number of conditions, including completion of the share consolidation, Exchange acceptance and approval of NexGen shareholders. The Acquisition cannot be completed until the required regulatory and shareholder approvals are obtained. There can be no assurance that the Acquisition will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the information circular of Clermont prepared in connection with the Special Meeting, any information released or received with respect to the Acquisition may not be accurate or complete and should not be relied upon. Trading in the securities of Clermont should be considered highly speculative.
The Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this news release.
The trading of the Clermont common shares will remain halted pending further filings with the Exchange.
NexGen is a private British Columbia corporation established by Tigers Realm Group, an Australian-based, privately-owned resources group, as a special purpose Canadian uranium exploration company. It has an option to earn an initial 70% interest in the Radio Project in the Athabasca Basin, Saskatchewan, Canada, and the option to subsequently acquire the remaining 30%, in exchange for a combination of cash and common shares of NexGen. On December 18, 2012 NexGen acquired the uranium exploration projects of Mega Uranium Ltd. in the Athabasca Basin, Saskatchewan and Thelon Basin, Nunavut, Canada. Senior Management includes Leigh Curyer, CEO, and Andrew Browne, Vice President - Exploration and Development.
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|From: PaperPerson||3/12/2013 10:34:30 PM|
|Copper miners lead FTSE 100 higher despite poor UK manufacturing|
Antofagasta gains after higher than expected payout to shareholders.
As leading shares edged to a new five year high, copper miners Antofagasta and Kazakhmys helped build up much of the market's gains.
Antofagasta added 34p to £11.29 after higher profits and a bigger than
The Chilean company said full year profits rose 5% to $3.83bn. More crucially, it unveiled a dividend of 98.5¢ a share -
more than double last year's figure - including a special payment of 77.5¢.
But the company announced a $500m impairment charge on its main growth project, the $1.7bn Antucoya copper mine, with analysts saying this could mean an eventual cancellation. In a hold note, Numis said:
[It] remains a quality company but with Antucoya pushed back we see limited growth and expect it trade side
In fact the copper price moved higher on hopes of buying from China, now the metal is cheaper.
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|To: PaperPerson who wrote (4685)||3/30/2013 2:12:03 PM|
|Terra Tech Corp.: Issues Corporate Update on GroRite and NB Plants Merger and Recent Financing|
Business WirePress Release: Terra Tech Corp. – Wed, Mar 27, 2013 3:07 PM EDT
TRTC 0.185 0.02
IRVINE, Calif.--(BUSINESS WIRE) -- Terra Tech Corp. (TRTC), a leader in sustainable agricultural products, releases merger update with both GroRite Garden Centers and NB Plants/ Edible Garden and discusses their recent $825,000 financing.
Terra Tech recently announced signing LOI’s to acquire two companies, GroRite Garden Center and NB Plants/ Edible Garden brand. Upon a successful merger these two acquisitions will push annual revenue for Terra Tech to over $10 million. Both companies are cash flow and net income positive. Currently the Edible Garden brand can be found at Shoprite, Food Emporium in over 280 retailers throughout New Jersey, New York, Connecticut, Delaware, Maryland, and Pennsylvania. GroRite is a gardening superstore with retail shopping situated on over 8 acres in Lincoln Park, NJ.
As we have previously stated the company is currently working towards definitive documents to close the transaction and determined it was important to make investors aware of the progress and details. To date Terra Tech has finished negotiating terms with both entities and are finalizing the documents and the structure of the transaction. Both NB Plants and GroRite have working capital lines of credit amounting to $1.8 million in place. The lines had certain covenants that wouldn’t transfer over to the new merged entity. Presently Terra Tech and the VandeVrede’s are refinancing these instruments, which has caused a delay for closing the merger. Both parties are confident the new lines will be set up within a few weeks.
“As you navigate through the process of closing a deal of this magnitude you uncover additional variables that need to be addressed, it is important for us to close this within the second quarter as this is a significant fiscal period for us,” said Ken VandeVrede COO of Terra Tech and President of GroRite. “Closing this merger is the priority for Terra Tech as well as my family. We have aggressive growth plans for the next 24 months that include expansion into additional markets.”
Terra Tech announced yesterday the completion of the sale of $825,000 of convertible debentures. Aegis Capital Corp. acted as placement agent for the offering. The proceeds of the offering are critical for management to execute on its growth strategy. Terra Tech and NB Plants have recently announced they are purchasing and constructing an additional five acres of greenhouse on the Belvidere property. This round of funding allows the company to finalize the purchase and begin construction of a new facility, which we anticipate will produce significant revenues for the company. The anticipated time for construction is 9 months.
“I have a background in finance and understand that investors generally see financings as dilutive, however if the company is creating accretive events such as building additional space to produce additional revenue, cash flow and earnings then it is necessary if shareholders want to see the company grow,” said Derek Peterson CEO of Terra Tech. “Myself and the officers of the company haven’t taken a salary since inception and we intend to utilize all forms of funding to make the company stronger.”
Terra Tech will continue to keep investors aware and informed of the progress. The company is also working towards meeting the qualifications for listing on the NASDAQ Capital Markets within 24 months. This merger is a significant step in that direction. Additionally the company plans to strengthen it’s board of directors as well as the advisory board with industry veterans that can help facilitate the companies overall growth strategy.
“We have never been more excited about the future of the company, we have identified additional growth opportunities for the company and plan to execute as aggressively as possible in the coming months,” said Derek Peterson, Terra Tech CEO.
Terra Tech Corp: www.terratechcorp.com
NB Plants/ Edible Garden: eatherbs.com
About Edible Gardens:
The Edible Garden brand provides fresh, locally grown herbs and leafy greens to major supermarket chains and restaurants. Their process utilizes time tested, classic Dutch hydroponic farming methods to grow vegetables in a safe, healthy, 100% natural environment, free of contaminants and pesticides. We maximize the use of the latest technology, to exceed competitors’ products often imported from outside the U.S. and Edible Garden exclusively grows, packs and ships their own products, allowing them to monitor and guarantee the safety, quality, and freshness of our produce from seed to delivery.
About Terra Tech:
Through its wholly-owned subsidiary GrowOp Technology, Terra Tech Corp. specializes in controlled environment agricultural technologies. The company integrates best-of-breed hydroponic equipment with proprietary software and hardware to provide sustainable solutions for indoor agriculture enterprises and home practitioners. We work closely with expert horticulturists, engineers, and plant scientists to develop and manufacture advanced proprietary products for the fast-growing urban agricultural industry as well as individual hobbyists. Large companies, small urban farmers, home enthusiasts, and traditional greenhouse growers utilize our products. Our complete product line is available at specialty retailers throughout the United States, and via our website. Terra Tech Corp. was incorporated in July 2008 in the State of Nevada; its subsidiary GrowOp Technology was founded March 2010, in Oakland, California.
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|From: james flannigan||8/23/2013 10:59:03 AM|
|This is going to be BIG:|
Opinion > Independent Reports > Revealed: The smallcap poised to take big...
Revealed: The smallcap poised to take big advantage of the huge Monterey Shale oil play
The biggest oil formation in the U.S. goes into production this year, and V.ZEX is right in the middle of it.
When the Bakken shale oil play really got rocking, stocks like Continental Resources Inc. ( NYSE: CLR, Stock Forum) went from $10-$100, and Brigham Exploration went from $2-$36—all in just 2-3 years.
When the Eagle Ford got rolling, stocks like PetroHawk Energy Corp. went from a few dollars to $37.
It makes me wonder what will happen to Zodiac Exploration Inc.’s ( TSX: V.ZEX, Stock Forum) when the Monterey Shale gets solved.
And I don’t think I’m going to have to wait very long to find out. A series of “tight holes” by leading industry players makes me think we’re getting close.
I’ve written before that the Monterey Shale in California actually has 60% of the technically recoverable oil in all the US—yet has no real production yet. This play is so big that it is actually twice the size of the Bakken in North Dakota and 4x the size of the Eagle Ford in Texas.
And Zodiac is the best way to gain direct exposure to the Monterey. Zodiac has some very big leverage to the biggest US shale play.
In fact, Zodiac may offer investors more barrels of oil in place per dollar of market capitalization than any other publicly traded company. It has a market capitalization of $32 million—and $17 million or five cents a share in net cash—with exposure to more than 4 Billion Barrels of oil in place. That's a great position for a micro-cap stock and a legend as its Chairman.
So how big is the Monterey? In 2011 the EIA (Energy Information Agency) released a study called “Review of Emerging Resources – U.S. Shale Gas and Shale Oil Plays”—where it named the Monterey/Santos as—by far--the largest shale oil play in the United States with over 15 billion barrels of technically recoverable oil.
Zodiac Exploration has just under 72,000 acres of prime Monterey land—that also includes a few other geologic formations with a lot of oil potential.
The industry calls that “stacked pay”, and Zodiac’s land position full of stacked pay could not be replicated today. And it’s the only publicly traded company that focuses exclusively on the Monterey zones and source rocks.
In early 2009 Zodiac identified a light oil resource opportunity in California and aggressively began locking up acreage.
Thanks to moving early and quickly, Zodiac built their land position—at bargain prices. And we know there is oil there—in the 1970’s and 1980’s adjacent wells to the Zodiac lands produced over 500,000 barrels of oil. These vertical wells also provided all kinds of useful geological data.
An independent resource report prepared on Zodiac’s Jaguar acreage—only 40,000 of their 72,000 acres--estimated mean Total Petroleum Initially-In-Place of just over 4 Billion Barrels.
The largest entire Canadian tight oil plays have the following amounts of oil in place:
Cardium 10.6 billion barrels
Viking 5.0 billion barrels
Shaunavon 3.0 billion barrels
Swan Hills 2.9 billion barrels
So Zodiac Exploration sits on as much oil as entire leading Canadian resource plays. The leverage this company has to this play is not just rare, it’s unique.
Like the Bakken and Eagle Ford were ten years ago, the Monterey today is not “development ready”. Oil producers are still trying to crack the geological code and figure out how extract oil from the play profitably.
And like the Bakken and Eagle Ford it really isn’t a matter of “if” the industry figures out the Monterey, it is a matter of “when”.
And “when” that happens, land prices in these shale plays see huge jumps—from tens to thousands of dollars per acre. At $10,000 per acre, which would be low for a successful oil resource play (Eagle Ford acreage goes for $15,000 to $25,000 per acre), Zodiac’s 71,600 acres would be worth $716 million. That is just a hair under $2 per Zodiac share. (That would be more than a 20-bagger ;-))
It has happened in every other major shale oil play in the US. And once the code is cracked, it spreads like wildfire across the play and the production increases start.
This is incredible upside potential for a company with no debt and a good chunk of cash on the balance sheet.
And back to the "when”--I have reason to believe it could be very soon.
Right next to Zodiac is Occidental Petroleum Corp. ( NYSE: OXY, Stock Forum) with 900,000 acres in the Monterey--the largest acreage position in the play. So they are highly motivated to crack the Monterey code, and they have deep enough pockets to do it.
Last year OXY discovered a 50 million barrel “unconventional” deposit in California—that’s another word for tight oil or shale oil. And on its latest conference call, OXY called it “repeatable”. They also said that most of any increased spending in California would be on unconventional plays—then allowed analysts to speculate that they could IPO their California assets some time in the near future.
Any good news out of OXY on the Monterey—and Zodiac could turn into a multi-bagger for shareholders.
Now, Zodiac is working to move the Monterey forward as well. After all, it was the juniors and intermediates who developed the Bakken—the majors came in dead last, buying everybody else after the hard work was done.
Last October, Zodiac signed a joint venture agreement with Aera Energy—one of the largest private energy companies in the USA—on 19,600 acres of Zodiac’s land in King’s County California. In exchange for 50% of those acres Aera agreed to pay 100% of the drilling for two vertical and two horizontal wells. They're attracting that kind of attention.
The first well under this program drilled through several of the stacked pays, and reached 15,000 feet--its total vertical depth--on April 29, 2013. It remains on a “tight-hole” status, where they don’t have to tell the market what they found.
Zodiac is also actively talking to several other companies interested in their acreage.
With well results still waiting to be disclosed and active discussions ongoing it is curious that Zodiac’s shares are moving. It tells me the market is expecting news.
The company has no debt and $17 million in cash in the bank ($0.05 per share). At the current share price ($0.08) that means that investors are paying all of $0.03 per share or not much more than $10 million for exposure to more than 4 Billion Barrels of oil in place.
Another positive for the company and the stock is Chairman Bob Cross. I got to know Bob ten years ago when he took over the shell that became Bankers Petroleum—for just under 1 cent a share. The company now produces 18,000 barrels a day of oil and has traded to $10.
His BKX Petroleum just ran from $0.85-$1.40 in a week. Success follows Bob likes pucks follow Wayne Gretzky.
So Zodiac’s stock is now moving up, as the Market sees the huge leverage it has to all the stacked pay in the Monterey. OXY’s big drilling plans in the Monterey—at least 15 wells and $300 million in capex--in the coming six months clearly has the Market intrigued in Zodiac.
Paying almost nothing for something that could be worth hundreds of millions of dollars is how fortunes are made. And all it is going to take is one smart petroleum engineer cracking the code on this massive play.
There is clearly big potential for Zodiac. And with several tight holes in the play, and an active drilling program by OXY, the discovery clock is ticking faster now.
Keith Schaefer is publisher of the Oil and Gas Investments Bulletin http://oilandgas-investments.com/
Read more at http://www.stockhouse.com/opinion/independent-reports/2013/08/21/zodiac-exploration-poised-for-start-of-monterey-sh#sXz7xSFYbBju0tW3.99
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