Fountain Asset Corp. Announces Its Financial Results for the Third Quarter 2016

Toronto, Ontario–(Newsfile Corp. – November 30, 2016) – Fountain Asset Corp. (TSXV: FA) (“Fountain Asset”) announces its financial results for the third quarter ending September 30, 2016.

Highlights

  • Three month revenue of $818,000, up from $811,000 in Q1 and $295,000 in Q1;

  • Net income of $551,000;

  • Portfolio of publicly traded companies increased to $6.0 million compared to $5.2 million at year end;

  • Total assets of $13.9 million at the end of the quarter;

Management’s First Quarter Comments

For the third quarter ended September 30, 2016, the Company reported net income of $551,045 or $0.01 per share compared to a net loss of ($3,894,241), or ($0.07) per share in the prior year. Total assets as at September 30, 2016 were $13.9 million compared to $12.9 million as at December 31, 2015. The Company’s portfolio of public companies increased to $6.0 million at quarter end compared to $5.2 million at year end.

A full set of unaudited financial statements and related notes have been filed on SEDAR.

About Fountain Asset Corp.

Fountain Asset Corp. is a merchant bank which provides equity financing, bridge loan services (asset back/collateralized financing) and strategic financial consulting services to companies across many industries such as oil & gas, mining, real estate, manufacturing, retail, financial services, technology and biotechnology. For further information, please contact Jason G. Ewart at (416) 488-7760 or visit Fountain Asset Corp.’s website at http://ift.tt/1So4ry7.

Forward-Looking Information

These materials include certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Other than statement of historical fact, all statements in this material, including, without limitation, statements regarding fair values of marketable securities, investments, bridge loans, convertible debentures, estimated asset retirement obligations, and future plans and objectives of the Company, are forward-looking statements that involve various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date of these materials. Important factors that could cause actual results to differ materially from the Company’s expectations include, without limitation, the level of bridge loans completed, the nature and credit quality of the collateral security, the sufficiency of cost estimates for remaining reclamation obligations as well as those factors discussed in the Company’s documents filed from time to time with the TSX Venture Exchange, Canadian securities regulators and other regulatory authorities. All subsequent written and oral forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by this notice.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.  

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Avalon Releases Annual Sustainability Report

Toronto, Ontario–(Newsfile Corp. – November 30, 2016) – Avalon Advanced Materials Inc. (TSX: AVL) (OTCQX: AVLNF) (“Avalon” or the “Company”) is pleased to announce the release of its fifth comprehensive Sustainability Report entitled Minerals for Transitioning Economies (the “2016 Sustainability Report”) along with the release of its 2016 annual filings. The 2016 Sustainability Report is available from the Company’s website at http://ift.tt/2gz8Wd8.

The 2016 Sustainability Report was prepared in accordance with the Global Reporting Initiative (“GRI”) Version 4 guidelines for core reporting. In accordance with GRI, Avalon conducted a detailed materiality assessment review, identifying the topics that have the highest priority to the Company and its Communities of Interest. This review was aided by feedback received though Avalon’s various engagement efforts, previous Avalon sustainability reports and Avalon’s risk assessments.

The 2016 Sustainability Report focuses on the social, environmental and economic issues that are most material to the Company. It also incorporates a self-assessment of Avalon’s 2016 fiscal year performance and sets targets for 2017 against the applicable Toward Sustainable Mining indicators defined by the Mining Association of Canada.

Don Bubar, President and CEO comments, “Avalon pursues sustainability in all areas of our business and actively promotes improved mineral industry practice with investors, potential partners and government. I remain convinced that sustainability adds value to our business. Avalon is unwavering in our commitment to provide leadership in the junior resource sector toward a more sustainable future in the Canadian mineral industry.”

The Company has also completed the filings of its Consolidated Financial Statements, Management’s Discussion and Analysis, and Annual Information Form with Canadian security regulators, as well as its Annual Report on Form 20-F with the U.S. Securities and Exchange Commission for its fiscal year ended August 31, 2016. Copies of these filings are available on the Company’s website at http://ift.tt/2fSrDdJ, through SEDAR at http://www.sedar.com or through EDGAR at http://www.sec.gov.

Shareholders may request a printed copy of the Consolidated Financial Statements and/or the 2016 Sustainability Report by email to ir@AvalonAM.com or by regular mail to Investor Relations, Avalon Advanced Materials Inc., 130 Adelaide Street West, Suite 1901, Toronto, ON M5H 3P5.

For questions and feedback, please e-mail the Company at ir@AvalonAM.com, or phone Don Bubar, President & CEO at 416-364-4938.

About Avalon Advanced Materials Inc.

Avalon Advanced Materials Inc. is a Canadian mineral development company specializing in niche market metals and minerals with growing demand in new technology. The Company has three advanced stage projects, all 100%-owned, providing investors with exposure to lithium, tin and indium, as well as rare earth elements, tantalum, niobium, and zirconium. Avalon is currently focusing on its Separation Rapids Lithium Project, Kenora, ON and its East Kemptville Tin-Indium Project, Yarmouth, NS. Social responsibility and environmental stewardship are corporate cornerstones.

This news release contains “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements related to the social, environmental and economic issues that are most material to the Company, the Company’s targets for 2017 against the applicable Toward Sustainable Mining indicators, that Avalon pursues sustainability in all areas of its business and actively promotes improved mineral industry practice and that Avalon is committed to provide leadership in the junior resource sector toward a more sustainable future in the Canadian mineral industry. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “potential”, “scheduled”, “anticipates”, “continues”, “expects” or “does not expect”, “is expected”, “scheduled”, “targeted”, “planned”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be” or “will not be” taken, reached or result, “will occur” or “be achieved”. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Avalon to be materially different from those expressed or implied by such forward-looking statements. Forward-looking statements are based on assumptions management believes to be reasonable at the time such statements are made. Although Avalon has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. Factors that may cause actual results to differ materially from expected results described in forward-looking statements include, but are not limited to market conditions, and the possibility of cost overruns or unanticipated costs and expenses as well as those risk factors set out in the Company’s current Annual Information Form, Management’s Discussion and Analysis and other disclosure documents available under the Company’s profile at www.SEDAR.com. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Such forward-looking statements have been provided for the purpose of assisting investors in understanding the Company’s plans and objectives and may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-looking statements. Avalon does not undertake to update any forward-looking statements that are contained herein, except in accordance with applicable securities laws.

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IIROC Trade Resumption – AnalytixInsight Inc.

Vancouver, British Columbia–(Newsfile Corp. – November 30, 2016) – Trading resumes in:

Company:

AnalytixInsight Inc.

TSX-V Symbol:

ALY

Resumption Time (ET):

08:00 on Thursday, December 1, 2016

 

 

IIROC can make a decision to impose a temporary suspension of trading in a security of a publicly listed company, usually in anticipation of a material news announcement by the company. Trading halts are issued based on the principle that all investors should have the same timely access to important company information. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.

– 30 –

For further information: IIROC Inquiries 1-877-442-4322 (Option 3) – Please note that IIROC is not able to provide any additional information regarding a specific trading halt. Information is limited to general enquiries only.

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Canamex Provides Update on Financing and Drilling

Vancouver, British Columbia–(Newsfile Corp. – November 30, 2016) – Canamex Resources Corp. (TSXV: CSQ) (OTCQX: CNMXF) (FSE: CX6) (“Canamex” or the “Company”) would like to provide shareholders and investors with the following update on its private placements and fall drilling campaign.

Financing Update

As announced in its October 25, 2016 news release, Canamex closed the first tranche of two private placements for gross proceeds of $4,955,350. Canamex intends to close a second tranche of these two private placements shortly in the month of December, on the same terms as previously announced in its October 17 and October 25, 2016 news releases, for a maximum amount of $1,244,650 so that the total raised in both tranches of the private placements will be a maximum of $6,200,000. All figures in this news release are in Canadian dollars unless otherwise specified.

On October 25, 2016, Canamex issued a principal amount of $4,239,000 of secured convertible debentures (“Debentures”), maturing on October 25, 2019. The Company intends to close a second tranche for a maximum principal amount of $961,000 of Debentures (“Debenture Offering”) so that the maximum amount raised in both tranches of this private placement of Debentures will be $5,200,000. The terms of the Debenture Offering are outlined below.

The Debentures to be issued in the second tranche of the Debenture Offering will mature in three years after closing of the Debenture Offering (“Debenture Maturity Date”). From and after the date of issue of the Debentures until the Debenture Maturity Date, the Debentures will be convertible into common shares of Canamex (“Shares”) at the option of the holder at a conversion price of $0.16 per Share (the “Conversion Price”), being 6,250 shares per $1,000 principal amount of Debentures.

Interest on the Debentures shall be paid annually in arrears, at an annual interest rate of 7%. The Company will have the option, in its sole discretion, to pay the interest in Shares of the Company, subject to acceptance by the TSX-V. In the event Canamex opts to pay the interest in Shares instead of cash, the interest rate shall increase to 10% per annum in respect of such interest payment in Shares.

In the event that the Company has not entered into a definitive joint venture agreement in respect of the Bruner Gold Property (“JV Agreement”) on or before the date that is six months after the closing date of the Debenture Offering, the interest rate on the Debentures will thereafter be increased by 1% and will be subsequently increased by an additional 1% immediately following the end of each six month period during the term of the Debentures if at such time the JV Agreement has not been entered into.

In addition, the holders of the Debentures will receive 6,250 warrants (“Warrants”) per $1,000 principal amount of Debentures. The Warrants will have a strike price of $0.20 and expire on the Debenture Maturity Date.

On a date that is 24 months after closing of the Debenture Offering, the Debenture holders may request that the Company repay the Debentures within 20 business days (“Put Feature”). The Debenture holders will only be allowed to utilize the Put Feature on one specific date.

After 24 months from closing of the Debenture Offering, if the Shares of Canamex trade at or above $0.64 on a 30-day VWAP (volume-weighted average price) basis on the TSX-V, then the Company can force the conversion of the Debentures by giving the Debenture holders 10 days’ notice.

The Debentures shall have a first ranking security over the Company’s interest in its joint venture with Provex Resources Inc. (“Provex”) in respect of the Bruner Gold Property. While Canamex and Provex are in a joint venture at present, a formal joint venture agreement between the parties has yet to be completed.

Proceeds of the Debenture Offering will be used for permitting, drilling and metallurgy at the Company’s Bruner Gold Property in Nye County, Nevada, and for general working capital.

The Company may pay to qualified parties, and subject to the requirements of applicable securities laws, finders’ fees of up to 2% in cash and 375 Warrants per $1,000 principal amount of Debentures.

On October 25, 2016, Canamex also closed the first tranche of a non-brokered private placement for gross proceeds of $716,350. The Company issued a total of 4,477,188 units of the Company (“Units”) at a price of $0.16 per Unit. Each Unit is comprised of one (1) common share and one (1) transferable share purchase warrant (“Unit Warrant”). Each Unit Warrant entitles the holder to purchase one (1) additional common share (the “Unit Warrant Share”) at a price of $0.20 per Unit Warrant share for five (5) years from the date of issuance of the Unit Warrant.

The Company intends to close a second tranche of Unit financing (“Unit Offering”) for maximum gross proceeds of $283,650 through the issuance of a maximum of 1,772,812 Units. The total amount raised in both tranches of the Unit Offering would be a maximum of $1,000,000, representing 6,250,000 Units.

The Company may pay to qualified parties, and subject to the requirements of applicable securities laws, finders’ fees of up to 7% in cash and/or 7% in Warrants.

In addition, in accordance with an agreement the Company has with Hecla Canada Ltd. (refer to CSQ News Release dated November 19, 2012), Hecla holds a pre-emptive right so long as it holds more than 10% of Canamex’s outstanding shares (on an undiluted basis). In this regard, Hecla has the right (but not the obligation) to participate in equity offerings of Canamex in order to maintain Hecla’s pro-rata equity interest in Canamex.

The proceeds from the Unit Offering will be used for permitting, drilling and metallurgy at the Company’s Bruner Gold Property in Nye County, Nevada, and for general working capital.

With respect to both the Debenture Offering and the Unit Offering, under applicable Canadian securities law the securities and underlying securities to be issued will be subject to a hold period of four months and a day from the date of issuance of the securities, and will be subject to such further restrictions on resale as may apply under applicable foreign securities laws.

Drilling Update

As a follow up to its news release of November 8, 2016, Canamex is pleased to inform shareholders and investors that drilling was completed on November 16, 2016 on the Bruner Gold Property in Nye County, Nevada. A total of 23 reverse circulation (“RC”) holes, representing a total of 1,850 metres (6,060 feet), were drilled into the Paymaster resource area and 3 RC groundwater test holes, representing a total of 450 metres (1,500 feet), were drilled in the proposed leach pad and pond area. None of the groundwater test holes his groundwater within 150 metres (500 feet). This is good news for the Company as this will negate the need for groundwater monitoring wells for development. Assays from all holes are expected by the end of December 2016.

Greg Hahn, President and COO and a Certified Professional Geologist (#7122) is the Qualified Person under NI43-101 responsible for preparing and reviewing the technical data contained in this press release.

ON BEHALF OF THE BOARD OF DIRECTORS

SIGNED: “Mark Billings”

Mark Billings, Chairman and CEO
Contact: (514) 296-1641, mbillings@canamex.us

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS

This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release are forward-looking statements that involve various risks and uncertainties. Forward-looking statements in this news release include statements in relation to the timing, cost and other aspects of the planned 2016 program on the Bruner property; the planned closing of the second tranche private placements of the Debentures and the Units (together, the “Offerings”); the potential for development of the mineral resources; the potential mineralization and geological merits of the Bruner property; and other future plans, objectives or expectations of the Company. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s plans or expectations include the risk that the Company will be unable to complete the planned closing of the Offerings due to failure to obtain necessary regulatory approvals or otherwise; the risk that actual results of current and planned exploration activities, including the results of the Company’s 2016 drilling program(s) on the Bruner property, will not be consistent with the Company’s expectations; the geology, grade and continuity of any mineral deposits and the risk of unexpected variations in mineral resources, grade and/or recovery rates; fluctuating metals prices; possibility of accidents, equipment breakdowns and delays during exploration; exploration cost overruns or unanticipated costs and expenses; uncertainties involved in the interpretation of drilling results and geological tests; availability of capital and financing required to continue the Company’s future exploration programs and preparation of geological reports and studies; delays in the preparation of geological reports and studies; the metallurgical characteristics of mineralization contained within the Bruner property are yet to be fully determined; general economic, market or business conditions; competition and loss of key employees; regulatory changes and restrictions including in relation to required permits for exploration activities (including drilling permits) and environmental liability; timeliness of government or regulatory approvals; and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. In connection with the forward-looking information contained in this news release, the Company has made numerous assumptions, including that the Company’s 2016 programs will proceed as planned and within budget. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as otherwise required by applicable securities legislation.

The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements.

This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES

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IIROC Trade Halt – IBI Group Inc.

Toronto, Ontario–(Newsfile Corp. – November 30, 2016) – The following issues have been halted by IIROC:

Company: 

IBI Group Inc.

TSX Symbol:

IBG.DB.B

Reason:

Pending News

Halt Time (ET)

14:17

   

IIROC can make a decision to impose a temporary suspension of trading in a security of a publicly listed company, usually in anticipation of a material news announcement by the company. Trading halts are issued based on the principle that all investors should have the same timely access to important company information. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.

– 30 –

For further information: IIROC Inquiries 1-877-442-4322 (Option 3) – Please note that IIROC is not able to provide any additional information regarding a specific trading halt. Information is limited to general enquiries only.

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IIROC Trade Resumption – Sunset Cove Mining Inc.

Vancouver, British Columbia–(Newsfile Corp. – November 30, 2016) – Trading resumes in:

Company:

Sunset Cove Mining Inc.

TSX-V Symbol:

SSM

Resumption Time (ET):

14:15

 

 

IIROC can make a decision to impose a temporary suspension of trading in a security of a publicly listed company, usually in anticipation of a material news announcement by the company. Trading halts are issued based on the principle that all investors should have the same timely access to important company information. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.

– 30 –

For further information: IIROC Inquiries 1-877-442-4322 (Option 3) – Please note that IIROC is not able to provide any additional information regarding a specific trading halt. Information is limited to general enquiries only.

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IIROC Trade Halt – Sunset Cove Mining Inc.

Vancouver, British Columbia–(Newsfile Corp. – November 30, 2016) – The following issues have been halted by IIROC:

Company: 

Sunset Cove Mining Inc.

TSX-V Symbol:

SSM

Reason:

At the Request of the Company Pending News

Halt Time (ET)

13:27

   

IIROC can make a decision to impose a temporary suspension of trading in a security of a publicly listed company, usually in anticipation of a material news announcement by the company. Trading halts are issued based on the principle that all investors should have the same timely access to important company information. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.

– 30 –

For further information: IIROC Inquiries 1-877-442-4322 (Option 3) – Please note that IIROC is not able to provide any additional information regarding a specific trading halt. Information is limited to general enquiries only.

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