X-Terra Resources Closes “Strategic” Financing At 50% Discount To Market Price
X-Terra Resources Inc (TSXV: XTT) announced this evening that it has closed a “strategic” private placement for gross proceeds of $700,000. The placement, conducted at $0.10 per unit, currently features in-the-money shares and warrants, with units sold at a price that the company has not traded at for at least a month. The kicker, is […]
West Red Lake Completes 3,187 Metre Drill Program At Flagship Property
West Red lake Gold Mines (CSE: RLG) has completed its ten drill hole drilling program at its flagship West Red lake property in Ontario Canada. The drill program, which currently awaits assay results, drilled a total of 3,187.5 metres. The drill program was designed to follow up and expand on positive results the company has […]
Canopy Growth: Canaccord Estimates $101.1 Million In Top Line Revenue For Q1 2021
Canopy Growth (TSX: WEED) (NYSE: CGC) will report their first fiscal quarter of 2021 on August 10th before market open with the call following at 10:00 am. With a C$2.2 billion annualized run-rate that is the Canadian market, Canaccord analyst Matt Bottomley says that COVID-19 is likely to weigh on the quarter, as sales from […]
Trump Reimposes 10% Tariffs on Aluminum, Canada Vows to Retaliate With ‘Dollar-for-Dollar’ Measures
To Canada’s dismay, on Thursday, US President Donald Trump announced that the US will be reimposing trade penalties on Canadian aluminum that were only lifted last year. According to Trump, Canadian steel producers had flooded the US with aluminum exports that have been allegedly destroying the country’s industry and job market. The reignited trade feud […]
Up to 20% of the World’s Oil and Gas Reserves May no Longer be Viable if Low Oil Prices Continue: Exxon Mobil
Following grim second quarter results for many oil companies across the US and Canada brought on by alarmingly low oil prices and significantly reduced demand, it appears that for many the financial strain is far from over. According to energy giant Exxon Mobil, up to 20% of global oil and gas reserves may not be […]
iAnthus Schedules Date For Shareholder Meetings On Recapitalization Transaction
iAnthus Capital Holdings (CSE: IAN) issued an update to its ongoing plan of arrangement related to settling its outstanding debts this morning. The company has been approved by the Supreme Court of British Colombia to conduct meetings among its secured note holders, its unsecured debenture holders, and its equity holders to vote on the proposed […]
ReconAfrica Sees Investor Demand Double Financing Size To $20.0 Million
Reconnaissance Energy Africa Ltd. (TSXV: RECO), or ReconAfrica for short, appears to be an outlier in the current oil environment. The company announced this morning that its previously announced private placement of $6.0 to $10.0 million has now more than doubled to that of $20.0 million in light of intense investor demand. Further, the over […]
Beleave Receives No Bids In Stalking Horse Process, Shareholders To Receive Nothing Following Asset Sale
The demand for cannabis assets has evidently fallen off a cliff. Beleave Inc (CSE: BE) provided an update earlier this week in relation to its stalking horse sales process for effectively all of its assets, and the results, are disappointing. Despite targeting 46 potential buyers at the onset of the process, not a single bid […]
Karora Acquires Spargos Property In Western Australia
Karora Resources (TSX: KRR) has acquired the Spargos Reward Gold project, located roughly 65 kilometres from its Higginsville gold operation in Western Australia. The project is expected to see cash flow as early as next year following a fast tracking of opoerations. Acquired for A$4.0 million in cash along with spending commitments of A$2.5 million […]
US Homebuyers Priced out of Market as Record-Low Interest Rates Cause Inventory Decline
As a result of federal government and Federal Reserve working aggressively to keep the US economy from completely falling into financial ruin, mortgage rates have been falling drastically to new record lows. The average interest rate on a 30-year mortgage fell from 2.99% to a record-breaking 2.88% last week. However, despite the attractively low interest […]