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#ECHO Echo Energy PLC – Debt Restructuring Completion & Issue of Equity

echoEcho Energy plc, the Latin American focused energy company, announces that in respect of completion of the restructuring of the Company’s Luxembourg listed EUR 20.0m 8.0% secured notes (the “Notes”) and the Company’s 5.0 million 8.0% secured convertible debt facility (the “Facility”), it has today made application for 3,570,766,386 new ordinary shares in the Company (the “New Ordinary Shares”) to be admitted to trading on AIM (“Admission”). The New Ordinary Shares will rank pari passu with the Company’s existing ordinary shares and it is expected that Admission will occur at 8.00 a.m. on 8 December 2022.

 

As a result, the restructuring of the Notes and the Facility first announced by the Company on 12 August 2022 and subsequently approved by Echo shareholders and holders of the Notes will complete on Admission, with an aggregate of €15.0 million of debt principal, together with accrued interest thereon having been converted into the New Ordinary Shares.

 

Following Admission, the Company’s issued ordinary share capital will comprise 5,527,427,674 ordinary shares, none of which are held in treasury. Therefore the total number of ordinary Shares with voting rights in Echo following Admission will be 5,527,427,674.

 

The above figure of 5,527,427,674 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in or a change to their interest in the Company under the FCA’s Disclosure Guidance and Transparency Rules.

 

Martin Hull, Echo’s Chief Executive Officer, commented:

 

“Completion of the restructuring of the Company’s balance sheet is a very significant and positive milestone for Echo Energy. I would like to thank our note and debt holders, and of course Echo’s shareholders, for their continued support.

 

With our ambitious strategy to increase production and value in Santa Cruz sur, we remain focused on delivering on our operational and commercial goals.”

 

 

For further information, please contact:

 

Echo Energy

Martin Hull, Chief Executive Officer

 

via Vigo Consulting

Vigo Consulting (IR/PR Advisor)

Patrick d’Ancona

Finlay Thomson

Kendall Hill

 

+44 (0) 20 7390 0230

Cenkos Securities (Nominated Adviser)

Ben Jeynes

Katy Birkin

 

+44 (0) 20 7397 8900

Arden Partners plc (Corporate Broker)

Simon Johnson (Corporate Broking)

John Llewellyn-Lloyd (Corporate Finance)

 

 

+44 (0) 20 7614 5900

Kavango Resources PLC #KAV – Holding(s) in Company

TR-1: Standard form for notification of major holdings

 

1. Issuer Details

ISIN

GB00BF0VMV24

Issuer Name

KAVANGO RESOURCES PLC

UK or Non-UK Issuer

UK

2. Reason for Notification

An acquisition or disposal of voting rights

3. Details of person subject to the notification obligation

Name

Purebond Limited

City of registered office (if applicable)

Wembley

Country of registered office (if applicable)

England

4. Details of the shareholder

Full name of shareholder(s) if different from the person(s) subject to the notification obligation, above

 

City of registered office (if applicable)

 

Country of registered office (if applicable)

 

5. Date on which the threshold was crossed or reached

25-Nov-2022

6. Date on which Issuer notified

25-Nov-2022

7. Total positions of person(s) subject to the notification obligation

.

% of voting rights attached to shares (total of 8.A)

% of voting rights through financial instruments (total of 8.B 1 + 8.B 2)

Total of both in % (8.A + 8.B)

Total number of voting rights held in issuer

Resulting situation on the date on which threshold was crossed or reached

12.047009

0.000000

12.047009

85,000,000

Position of previous notification (if applicable)

8. Notified details of the resulting situation on the date on which the threshold was crossed or reached

8A. Voting rights attached to shares

Class/Type of shares ISIN code(if possible)

Number of direct voting rights (DTR5.1)

Number of indirect voting rights (DTR5.2.1)

% of direct voting rights (DTR5.1)

% of indirect voting rights (DTR5.2.1)

GB00BF0VMV24

85,000,000

12.047009

Sub Total 8.A

85,000,000

12.047009%

8B1. Financial Instruments according to (DTR5.3.1R.(1) (a))

Type of financial instrument

Expiration date

Exercise/conversion period

Number of voting rights that may be acquired if the instrument is exercised/converted

% of voting rights

 

Sub Total 8.B1

8B2. Financial Instruments with similar economic effect according to (DTR5.3.1R.(1) (b))

Type of financial instrument

Expiration date

Exercise/conversion period

Physical or cash settlement

Number of voting rights

% of voting rights

 

Sub Total 8.B2

9. Information in relation to the person subject to the notification obligation

1. Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer.

Ultimate controlling person

Name of controlled undertaking

% of voting rights if it equals or is higher than the notifiable threshold

% of voting rights through financial instruments if it equals or is higher than the notifiable threshold

Total of both if it equals or is higher than the notifiable threshold

 

Solai Holdings Limited

 

Purebond Limited

12.047009

12.047009%

 

10. In case of proxy voting

Name of the proxy holder

 

The number and % of voting rights held

 

The date until which the voting rights will be held

 

11. Additional Information

(1) Purebond Limited is a 100% Subsidiary of Solai Holdings Limited.

(2) 3 Named Directors of Solai Holdings Limited off which 2 are also Directors of Purebond Limited are also Trustees of Solai Pension Scheme which has 0.141730% (1,000,000 Shares) Voting Rights in Kavango Plc.

12. Date of Completion

 26-Nov-2022

13. Place Of Completion

London

#MNRG MetalNRG – Annual Report and Notice of AGM

MetalNRG plc (LON:MNRG), the natural resources and energy investment company, announces that, further to the announcement of final results for the year ended 31 December 2021, published on 29 April 2022, (“Final Results”), the Company’s Annual Report and Financial Statements has been published and is available on the Company’s websitewww.metalnrg.com. The Financial Statements for the year ended 31 December 2021 contained in the Annual Report contain no material changes to the Final Results.

MetalNRG’s Annual General Meeting (“AGM”) will be held at 1 Ely Place, London EC12N 6RY at 9.00 am on Monday, 20 June 2022. 

The Notice of AGM, together with the Proxy Form, has been posted to Shareholders and is also available on the Company’s website: www.metalnrg.com.  Full details of the operation and arrangements for the AGM are set out in the Notice of AGM.

Given the continued presence of Covid-19 and the rate at which the virus and new mutations can spread, shareholders should be aware that arrangements for the AGM may change at short notice.  Any relevant updates regarding the AGM will be made as early as possible before the date of the AGM via the Company’s website:  www.metalnrg.com or via a regulatory announcement.

All voting at the resolutions at the AGM will be conducted on a poll which means that shareholders should submit their Proxy Forms by email to info@metalnrg.com or by post to the Company Secretary, City Group PLC, as soon as possible.

We ask that all questions which shareholders wish to raise at the AGM be submitted to info@metalnrg.com in advance.

We additionally ask anyone wishing to attend the meeting to inform the Company Secretary by email at mail@city-group.com of their attendance so that appropriate arrangements can be made.

Pursuant to Disclosure Guidance and Transparency Rules, a copy of the Annual Report and Financial Statements for the year ended 31 December 2021 has already been submitted to the National Storage Mechanism and a copy of the AGM circular and Notice of AGM will be submitted and available shortly for inspection at:

http:/data.fca.org/#nsm/nationalstoragemechanism

The Final Results announcement is also available on the Company’s website www.metalnrg.com and by writing to the Company Secretary, City Group PLC, at 1 Ely Place, London  EC1N 6RY.

 

 

 

For further information, please contact:

 MetalNRG PLC:

Rolf Gerritsen

+44 (0) 207 796 9060

Christopher Latilla-Campbell

+44 (0) 207 796 9060

Peterhouse Capital Limited – Joint Broker:

Lucy Williams

+ 44 (0) 207 469 0930

Duncan Vasey

+ 44 (0) 207 469 0930

S I Capital Limited – Joint Broker:

Nick Emerson

+44 (0) 1483 413500

 

#BRES Blencowe Resources – Investor Evening – Thursday 12 May 2022

Blencowe Resources would be pleased to welcome current shareholders and potential investors to an Investor Evening on Thursday 12 May 2022 in the City of London.

The event will take place from 6pm for a 6:30pm start in The Partner Room at The Counting House, 50 Cornhill, EC3V 3PD – this is close to Bank station.

Following their return from in-country visits to Uganda, the Company will provide a short presentation followed by opportunities for Investor / Management Q&A and networking.

Hospitality will be provided – to help the Company plan for numbers, it would be appreciated if interested attendees could please RSVP using the following link:

https://tinyurl.com/35drrxms

Alternatively, RSVPs and other queries can be directed to info@blencoweresourcesplc.com 

Executive Chairman Cameron Pearce commented:

“Until recently, opportunities to meet with our UK based investors have been limited and our management team look forward to being able to meet with investors both at this event and in a short non-deal roadshow on our way back from overdue site in-country visits. We have recently released a series of positive operational updates and progress on the project is gathering pace quickly; at this event we look forward to updating shareholders in person on progress to date on both our projects.”

 

 

For further information please contact:

 

  Blencowe Resources Plc

Sam Quinn

www.blencoweresourcesplc.com

Tel: +44 (0)1624 681 250

info@blencoweresourcesplc.com

Investor Relations

Sasha Sethi

Tel: +44 (0) 7891 677 441

sasha@flowcomms.com

Tavira Securities

Jonathan Evans

Tel: +44 (0)20 7100 5100

jonathan.evans@tavirasecurities.com

First Equity Limited

Jason Robertson

Tel: +44(0)20 7330 1833

jasonrobertson@firstequitylimited.com

#ECR ECR Minerals – Block listing Interim Review

ECR

BLOCK LISTING SIX MONTHLY RETURN

Information provided on this form must be typed or printed electronically and provided to an ris.

(Note: Italicised termshave the same meaning as given in the Listing Rules.)

Date: 19 April 2022

Name of applicant:

ECR Minerals Plc

Name of scheme:

  1. 20 April 2020 Subscription Warrants Scheme
  2. 30 July 2020 Subscription Warrants Scheme
  3. 11 July 2018 Options Scheme

Period of return:

From:

7 October 2021

To:

19 April 2022

Balance of unallotted securities under scheme(s) from previous return:

  1. 26,000,000 ordinary shares in respect of the April 2020 warrants exercisable at 1 pence per share
  2. 32,190,748 ordinary shares in respect of the July 2020 warrants exercisable at 2.1 pence per share
  3. 11,200,000 ordinary shares in respect of the July 2018 options exercisable at 1.125 pence per share

Less: Number of securities issued/allotted under scheme(s) during period (see LR3.5.7G):

  1. 25,906,000 ordinary shares in respect of the 6 April 2020 warrants exercisable at 1 pence per share

Less: Number of securities expired unexercised during the period:

  1. 94,000 ordinary shares in respect of the April 2020 warrants exercisable at 1 pence per share

Equals: Balance under scheme(s) not yet issued/allotted at end of period:

  1. 32,190,748 ordinary shares in respect of the July 2020 warrants exercisable at 2.1 pence per share
  2. 11,200,000 ordinary shares in respect of the July 2018 options exercisable at 1.125 pence per share

 

Total Voting Rights

The Company confirms that ECR’s total issued ordinary share capital comprises 1,043,964,551

ordinary shares of 0.001p. This number represents the total voting rights in the Company, and, may be used by shareholders as the denominator for the calculation by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority’s Disclosure and Transparency Rules.

 

Name of contact:

David Tang

Telephone number of contact:

+44 (0) 20 7929 1010

FOR FURTHER INFORMATION, PLEASE CONTACT:

ECR Minerals plc

Tel: +44 (0) 20 7929 1010

David Tang, Non-Executive Chairman

Andrew Haythorpe, CEO

Email:

info@ecrminerals.com

Website: www.ecrminerals.com

WH Ireland Ltd

Nominated Adviser

Tel: +44 (0) 207 220 1666

Katy Mitchell / Andrew de Andrade

SI Capital Ltd

Tel: +44 (0) 1483 413500

Broker

Nick Emerson

Novum Securities Limited

Tel: +44 (0) 20 7399 9425

Broker

Jon Belliss

Blytheweigh

Tel: +44 (0) 207 138 3204

Public Relations

Tim Blythe

#KDNC Cadence Minerals – Investor Presentation February 2022

Cadence Minerals Investor Presentation February 2022

Cadence Minerals is an early stage investment and development company within the mineral resource sector and is listed as an investment company on the London Stock Exchange AIM market and the Aquis Stock Exchange, also based in London

#BRES Blencowe Resources – Rescheduling of Investor Webinar

Blencowe Resources (BRES:LON), the graphite explorer developing the Orom-Cross jumbo flake graphite project in Uganda, announces the rescheduling of the Investor Webinar hosted by CEO Mike Ralston from today Thursday 17 February 2022 to Thursday 24 February 2022 at 10:00am UK time (6:00pm WST time). Registration details remain the same and are below.

CEO Mike Ralston commented:

“Due to unforeseen circumstances we have been required to reschedule the webinar. We note the high level of interest registered for the webinar and we look forward to reconvening the webinar next week. I would invite shareholders and interested parties to submit questions in advance should they wish to do so.”

Registration Details

Please note that those who have already successfully registered need not do so again.

Investors who have not yet registered are invited to do so using the following link:

https://us02web.zoom.us/webinar/register/WN_NPAroCXpT6OQIWKP1Xox1Q  

Shareholders who wish to do so are invited to submit questions via email to info@blencoweresourcesplc.com

The most recent copy of the Company’s corporate presentation can be found at the following link:

https://blencoweresourcesplc.com/presentation/ 

Please note that on the day of the call that until the Q&A session has begun that all participants will initially be muted without audio with the exception of Company management. A recording of the call will also be made available on the Company’s website following the call.

 

**ENDS**

Contacts

Blencowe Resources Plc

Sam Quinn (London Director)

www.blencoweresourcesplc.com

info@blencoweresourcesplc.com

+44 (0)1624 681 250

 

Investor Enquiries

Sasha Sethi

Tel: +44 (0) 7891 677 441

sasha@flowcomms.com

Tavira Securities

Jonathan Evans

Tel: +44 (0)20 71005100 jonathan.evans@tavirasecurities.com

First Equity Limited

Jason Robertson

Tel: +44 (0)20 7330 1883

jasonrobertson@firstequitylimited.com

#BRES Blencowe Resources – Investor Call

Blencowe Resources (BRES:LON), the graphite explorer developing the Orom-Cross jumbo flake graphite project in Uganda, is pleased to announce that it will host a shareholder conference call and Q&A via Zoom conferencing on Thursday 17 February 2022 at 10:00am UK time (6:00pm WST time).

The call will be hosted by Blencowe’s CEO Mike Ralston who will be updating on the recently announced successful drilling results as well as the Company’s strategy moving forward.

Interested investors are invited to register using the following link:

https://us02web.zoom.us/webinar/register/WN_NPAroCXpT6OQIWKP1Xox1Q  

Those who wish to may add this event to their online diary by clicking here:

https://www.addevent.com/event/DZ11954380

 

Shareholders who wish to do so are invited to submit questions via email to info@blencoweresourcesplc.com

 

The most recent copy of the Company’s corporate presentation can be found at the following link:

https://blencoweresourcesplc.com/presentation/

 

Please note that until the Q&A session has begun that all participants will initially be muted without audio with the exception of Company management. A recording of the call will also be made available on the Company’s website following the call.

 

 

 

**ENDS**

Contacts

Blencowe Resources Plc

Sam Quinn (London Director)

www.blencoweresourcesplc.com

info@blencoweresourcesplc.com

+44 (0)1624 681 250

 

Investor Enquiries

Sasha Sethi

Tel: +44 (0) 7891 677 441

sasha@flowcomms.com

Brandon Hill Capital Limited

Jonathan Evans

Tel: +44 (0)20 3463 5000 jonathan.evans@brandonhillcapital.com

First Equity Limited

Jason Robertson

Tel: +44 (0)20 7330 1883

jasonrobertson@firstequitylimited.com

Ananda Developments #ANA – Shareholder Update

ana

Ananda’s ambition is to be a leading UK grower and provider of high quality, consistent, carbon zero medical cannabis for the UK and international markets.

The Directors of Ananda provide the following update to shareholders.

Commencement of medical cannabis cultivation

The first cannabis seeds were planted yesterday at Ananda’s 50% owned company, DJT Plants Limited’s (“DJT Plants”) medical cannabis research facility.  Dr Hadar Less, DJT Plants’ Lead Geneticist, and team have now started the first stage of the research programme.

The research programme is designed to create a library of stable cannabis genetics in order to ‘match’ cannabis plant profiles with clinical indications.  The research plan involves self-crossing a selection of cannabis strains for six generations and then conducting field trials in the multi-chapelle structures to determine which stable strains produce chemovars with desired metabolic profiles and which thrive in DJT Plants’ growing conditions.

Ananda’s ultimate ambition is to be a commercial grower and provider of high quality, consistent cannabis medicines. There are currently around 12,000 medical cannabis patients in the UK (up from around 3,000 when DJT’s licence was granted), currently being prescribed a combination of medical cannabis flower and oils.  All of these unlicenced cannabis medicines are currently imported.  The directors of Ananda believe that there is an unmet need for high quality, consistent medical cannabis grown in the UK, which meets the Medicines and Healthcare products Regulatory Agency (MHRA) Good Manufacturing Practice (GMP) standards.

Acquisition of the 50% of DJT Group Limited not already owned by Ananda (“Acquisition”)

The Acquisition process is largely complete, and the Company expects to post the relevant circular to shareholders shortly.

Since announcing the Acquisition, the parties (Ananda and Anglia Salads Limited) have been working as one team to execute the construction and commissioning of the research facility.  Weekly Executive Committee calls take place and more recently Operations calls have also been initiated.  As a result of the experience of the past eight or so months it has been decided by DJT Plants and Ananda that Stuart Piccaver and Simon Goddard will take the positions of Chairman of DJT Plants and CFO of DJT Plants, respectively.  They will both also join the board of Ananda as executive directors.  Initially it was contemplated that Stuart would be appointed as Ananda’s Joint CEO and that Simon would be Ananda’s CFO.  However, it is the view of all parties that this revised structure will allow Stuart to be more focused on DJT Plants, as Ananda’s most important operating entity, whilst Melissa Sturgess will maintain responsibility for public company matters.  Simon’s expertise in financial operations management is crucial and his energy is also agreed to be best focused at the DJT Plants level.

Melissa Sturgess, Ananda’s CEO, commented: “Since receiving our licence to grow medical cannabis for research in May 2021, our site team has reviewed and revised the plans which were submitted to the Home Office in October 2019, completed detailed drawings, finalised costings, commenced and completed construction and commissioned our medical cannabis research facility and multi-chapelle growing structures.  Credit goes to Stuart Piccaver and his team, in particular Phil Hubbert, who have delivered this result. They have used their 25 plus years’ experience in constructing high-care horticultural facilities to ensure execution of this stage of the project.  We do not underestimate the importance of team loyalty, local knowledge and the strength of existing supplier relationships which has seen timely construction during well-known COVID supply chain challenges.

We have all worked very well together as a cohesive and cooperative unit, over the past 8 months in particular.  As we continue towards our clear objective of growing and providing high quality, consistent UK grown cannabis medicines to patients in need, we are mindful that we are transitioning from an ‘ideas’ company to an ‘operating’ company and that a results oriented, best in class multi-disciplinary team will be one of the keys to our success.”

Is the hype finally over for Bitcoin, Altcoins and NFTs?

 

By Arjun Thakkar and Alan Green

Crypto volatility is back…and then some! Some investors called it downtrend others call it a cryptocurrency reset. The recent cryptocurrency crash wiped out nearly $1 trillion of wealth; Bitcoin fell by 30% while Ethereum dropped by 45% between Dec 2021 – Jan 2022. Although data shows 70% of crypto investors joined the market in 2021, the question everyone is asking is whether crypto market dilution and the uninitiated selling out is the reason for the downtrend, or rathermore is it due to new and better Initial Coin Offerings (ICOs) offering better value? It could of course be nothing more than a normal market correction? Let’s discover!

Theoretically, there is an inverse relationship between interest rates and the prices of opportunity costs such as stock prices, commodity prices and crypto valuation. Moves by central banks such as the Federal Reserve and Bank of England over the past few weeks have had a major influence on the financial markets. We now know that Russia is considering a ban on cryptocurrency and China has announced fresh regulations that include the banning of mining, a massive clamp down on ICOs, all of which has contributed to the huge sell-off.

Despite the fact that monetary policies and interest rates will affect prices in the short-term, the manner in which blockchain or cryptocurrency will be utilized in the future will largely determine its longevity and relevance. Financial institutions such as JP Morgan have started using blockchain technology for the security, speed and privacy of end-to-end transactions. It is already widely accepted that blockchain can be used to verify documents and speed up process with the help of smart contracts in industries like real estate or insurance.

Put simply blockchain and crypto currencies are here to stay. Governments and sovereignties including El Salvador have already adopted Bitcoin as legal tender, so the gradual recognition and acceptance of blockchain and cryptocurrency as legal tender seems almost inevitable despite the recent moves by the Chinese government and the Russian central bank to enforce regulations. But even the latest developments in Russia suggest that President Vladimir Putin and the Russian Finance ministry have changed tack and backed blockchain and crypto mining, albeit with measures to tax and regulate the crypto mining industry.

 

Altcoins

Despite the recent price correction and downturn affecting all cryptocurrencies, our view is that this is little more than a systemic risk and ‘healthy’ market correction. It is worth considering the individual performances (pre correction) of many altcoins such as Solana and Cardano, which have blasted onto the scene giving higher returns than well-known cryptos like Bitcoin and Ethereum. This despite both Solana and Cardano being built on Ethereum and relying on the Ethereum Blockchain to function.

The rising popularity of these altcoins is due to their improved functionality and their ability to facilitate smart contracts and host decentralized applications at a lower cost than giant rivals like Ethereum. Not only do they offer lower transaction costs but altcoins like Solana are faster and can handle around 50,000 more transactions per second.

 

Although Solana, Cardano and Ethereum can be used to deliver smart contracts, there are still questions over Bitcoin’s use and functionality going forward? Currently the primary purpose of Bitcoin is to facilitate the transfer of funds via a secure network, although it is worth noting that companies like Coinsilium (AQSE: COIN) (OTCQB: CINGF), are engaged in partnerships to build a Bitcoin marketplace for NFTs and to enable transition of RSK blockchain standard NFTs to other blockchain standard NFTs including Ethereum.

NFTs

Another burgeoning sector in the crypto and blockchain space is of course Non-Fungible Tokens (NFTs). These were hugely popular a few months back, and some were created by celebrities including William Shatner, Leonardo Messi and Justin Bieber. It does seem at the moment that some of the initial hype has waned so the question remains; are NFTs still a relevant asset class or were they just a flash in the pan?

Our belief is that although interest has waned in the short term, this has largely come about as a result of other major global events and developments taking centre stage as already outlined. Omicron, followed by a stock market and crypto market crash in January 2022 due to Russia and China moves against crypto currency have seen many less experienced investors sell up and get out. These events may have combined to move focus away from the NFT hype in the short term, but we believe longer term the hype and demand for NFTs will return. The size of the NFT market passed $40 billion in 2021 and is expected to double by 2025.

And NFTs are still catching the headlines too. Celebrities Kevin Hart and Paris Hilton recently bought a Bored Ape Yacht Club NFT for over $300,000.

Apart from the traditional use of NFTs as a form of art, they also offer the potential to buy digital lands in virtual worlds like the metaverse, and the potential to license and publish music ownership. Interest and hype may ebb and flow, but NFTs are definitely here to stay.

 

Stick or Twist

In summary, we believe that while the sharp price movements in cryptocurrency will continue, altcoins like Solana and Cardano with their higher transaction speeds and lower gas fees offer great potential from here on. Alternative uses for Bitcoin – the king of crypto, such as a Bitcoin marketplace for NFTs adds a new dimension and functionality to the original cryptocurrency and a potential target price of $100k in a couple of years.

All in all, for investors able to cope with the sharp price movements, investing into Bitcoin, Altcoins and NFTs looks likely to deliver an increase in portfolio value over the longer term, and always the potential to deliver spectacular quick gains for short term traders. In pontoon parlance – Twist!

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