Peak publie ses resultats et ses faits saillants de 2016

Montreal, Quebec–(Newsfile Corp. – April 28, 2017) – Les Technologies Peak Positioning inc. (CSE: PKK) (“Peak” ou la “Compagnie”) annonce ses résultats financiers et présente ses faits saillants pour l’année terminée le 31 décembre 2016. Tous les montants sont en dollars canadiens.

Faits saillants financiers:

  • Clôture d’un financement par placement privé de 3,98M$
  • Réduction de dettes d’un montant de 500K$ suite à la conversion de débentures
  • Revenus totaux de 58,1M$
  • Perte nette de 2,6M$

Faits saillants opérationnels:

  • Création d’un holding chinois à Hong Kong et une filiale opérationnelle à Shanghai
  • Partenariat d’investissement stratégique avec le chef de la direction du Groupe Zhonghai Wanyue (“ZHWY”)
  • Signature d’ententes pour des engagements de commandes d’achat de matières premières pour un montant 600M$.
  • Lancement de la plateforme Gold River
  • Traitement des premières transactions sur la plateforme Gold River

Revue de 2016:

L’année 2016 a été une année pivot pour Peak car la Compagnie a réalisé plusieurs étapes importantes qui ont été rendu possibles par la clôture d’un investissement stratégique de 3,98M$ avec le chef de la direction de ZHWY M Jiang Wang. Cette transaction a marqué le début d’une nouvelle ère de stabilité financière pour la Compagnie et lui a fourni suffisamment de ressources pour lui permettre de mettre en place les fondements de ses opérations en Chine. Tout en étant consciente du besoin de rapatrier au Canada les profits générés par ses opérations chinoises, la Compagnie a adopté une structure corporative selon les règles prescrites par le gouvernement chinois afin de permettre aux filiales opérationnelles chinoises, possédées par des compagnies mères étrangères, de rapatrier en dehors de la Chine les profits générés par ces filiales. La Compagnie a donc créé des compagnies holding à Hong Kong et à Shanghai avant de mettre en place sa filiale opérationnelle à Shanghai, du nom de Asia Synergy Technologies (“AST”). Cette filiale opère et gère la plateforme Gold River quant à l’approvisionnement de matières premières et de services financiers. Aussitôt créée, AST a pu sécuriser des engagements de commandes d’achats jusqu’en décembre 2017 pour une valeur de 600M$. Gold River a été lancée officiellement au 3ème trimestre de 2016 at a traité des commandes pour une valeur de 26M$ dans ce trimestre, validant ainsi la demande pour ce genre de services offerts par la plateforme.

À la suite du lancement de Gold River et après avoir soigneusement étudié le marché du prêt commercial en Chine, la Compagnie a saisi l’opportunité de ne pas seulement supporter financièrement les acheteurs de matières premières via la plateforme Gold River mais d’avoir un impact sur l’industrie commerciale du prêt dans son ensemble. Après discussion avec quelques fournisseurs avec des solutions pouvant potentiellement rendre le crédit plus accessible en Chine, la Compagnie a fait son choix sur une solution de prêt commercial développée par une compagnie canadienne en « fintech » appelée Cubeler inc. (« Cubeler »). Les discussions avec Cubeler sont allées bon train, à un point tel que la Compagnie était suffisamment confiante d’une entente prochaine qu’elle a commencé à formuler un modèle de commercialisation de la plateforme en Chine. Tout en développant le modèle d’affaires pour la commercialisation de Cubeler, la Compagnie s’est vu offrir la possibilité d’avoir sa propre institution financière. Cette dernière assumerait le rôle de financement, à la fois pour la plateforme Gold River et Cubeler. Ceci ajoute une dimension totalement nouvelle sur le potentiel de revenus de la Compagnie. Avoir un partenaire financier comme partie prenante des opérations de Gold River, a eu comme conséquence que la Compagnie a dû ajuster légèrement le modèle d’affaires de AST. L’ajustement impliquait que AST gagnerait un honoraire de référencement plus bas sur Gold River et devrait reporter le financement des transactions jusqu’à ce que les opportunités de financement de Gold River soient référées à l’institution financière. Ce qui veut dire que les revenus de AST pour le 4ème trimestre se sont avérés plus bas que prévu originalement.

Aperçu pour 2017

L’idée de posséder notre propre institution financière a commencé à germer dès le dernier trimestre de 2016. Dès lors, la Compagnie a entamé ses démarches auprès de divers éventuels partenaires financiers afin de former une coentreprise. Ainsi, le processus de création d’une filiale (Asia Synergy Financial Capital — ASFC) a été amorcé. Compte tenu de l’impact que ASFC pourrait avoir sur les résultats de ses opérations en Chine, la direction de Peak verra à signer des ententes de partenariat avec plusieurs institutions financières afin de bien établir les assises d’ASFC au cours de 2017. En date des présentes, des discussions avec plusieurs partenaires financiers potentiellement ont été entreprises et certains ont déjà manifesté leur intérêt à effectuer des mises de fonds dans une telle coentreprise.

Une fois opérationnelle, ASFC sera la seule institution financière sur Gold River à générer des revenus d’intérêts. Cependant, on peut s’attendre à ce que ce soit un peu différent sur la plateforme de Cubeler, car cette dernière rassemblera beaucoup d’autres prêteurs qui offriront du crédit avec ASFC. Selon le modèle économique de Cubeler, Asia Synergy Data Solutions (“ASDS”), la nouvelle filiale récemment créée de Peak, sera l’opérateur de la plateforme et une redevance de 2% sera générée sur tous les produits financiers offerts sur la plateforme. Ces revenus seront partagés entre ASDS, ASFC et la Compagnie d’assurance qui assurera les produits financiers. Ainsi, en plus de gagner des intérêts sur ses propres prêts, ASFC bénéficiera d’un pourcentage de la valeur de tous les prêts octroyés sur la plateforme. Plus il y aura de prêteurs sur la plateforme, plus il y aura des transactions de prêts sur la plateforme et plus ASFC générera des revenus.

« Nous ne pourrions pas être plus heureux à l’idée de posséder notre propre institution financière », a déclaré Johnson Joseph, président et chef de la direction de Peak. « Selon nos discussions avec certains investisseurs depuis la publication de notre plan d’affaires modifié, il semblerait que plusieurs mettent trop d’emphase sur nos projections plus conservatrices pour AST. Ils ne réalisent pas l’ampleur des résultats que ASFC pourront avoir sur les finances de la Compagnie et qui pourraient plus que compenser les objectifs de revenus de AST. Espérons que cela sera plus clair lorsque nous publierons nos objectifs de revenus pour ASFC d’ici quelques semaines » a conclu M. Joseph

Résultats financiers sommaires de 2016:

La Compagnie a généré des revenus 58 091 907 $ de la vente de matières premières pour l’année terminée le 31 décembre 2016 comparativement à 36 400 $ de revenus de consultation pour l’année 2015. Les transactions qui ont contribué aux revenus de la Compagnie et au bénéfice brut ont été limitées à une catégorie bien précise. Certaines commandes d’achats qui auraient nécessité du financement ont dû être reportées jusqu’à ce que ASFC soit en mesure de fournir le financement requis pour la finalisation de ces commandes. En conséquence, les marges brutes inférieures aux résultats attendus par AST s’expliquent par le fait que les transactions qui auraient généré des marges plus élevées n’ont pas eu lieu en 2016. Sur une base cumulative, les revenus générés ont été de 58 091 907 $ avec une marge brute de 289 669 $ comparativement à 36 400 $ pour la même période l’an dernier.

Les dépenses (à l’exclusion du coût des ventes) de l’année 2016 totalisent 2 938 773 $, comparativement à 1 864 494 $ en 2015. Si on ne tient pas compte des éléments non récurrents tels que la perte sur investissement de 350 000 $ en comparaison à 0 $ en 2015; 0 $ de dévaluation de l’achalandage comparé à 698 750$ en 2015, 0$ en dévaluation de la technologie comparé à 491 084 $ en 2015; la renonciation et l’extinction de créances de 196 452 $ comparé à (524 801$) en 2015; et le gain sur la dette conditionnelle de 230 000$ en 2015, la différence s’explique par une augmentation des salaires due au début des opérations en Chine, des frais de consultation, des frais de relations publiques, des loyers et frais de voyage. Les frais financiers, quant à eux, ont été réduits suite aux débentures qui ont été converties en actions.

La perte nette de l’année se chiffre à 2 646 104$ comparativement à  1 828 399$ pour l’année 2015. Les détails des résultats financiers de la Compagnie pour l’année 2015 se retrouvent dans les « Audited Consolidated Financial Statements and Management’s Discussion and Analysis (MD&A) » pour les périodes de douze mois terminées les 31 décembre 2016 et 2015, disponibles sur www.sedar.com.

Appel conférence avec les investisseurs:

Peak va tenir un appel conférence de 30 minutes avec les investisseurs à 16H:15 (heure de l’Est) le lundi 8 mai 2017 pour discuter : 1) des résultats financiers de la Compagnie du 4ème trimestre de 2016; 2) de l’ajustement apporté à son modèle d’affaires en vue de la création d’une institution financière, et; 3) de ses objectifs de revenus pour 2017. Les gens intéressés à participer à cet appel peuvent le faire en composant le numéro sans frais: 855-453-6961 et d’entrer le mot de passe : 4569772. L’appel sera selon la formule question/réponse et sera précédé par un bref aperçu des faits saillants opérationnels de la Compagnie en 2016. Les investisseurs de la Compagnie sont invités à soumettre leurs questions par courriel à l’adresse suivante: investors@peakpositioning.com en indiquant en rubrique : “Appel conférence de fin d’année 2016”. Toutes les questions reçues avant 17H00 (heure de l’Est) le jeudi 4 mai 2017 seront répondues durant l’appel par le président et chef de la direction de la Compagnie M Johnson Joseph. Les investisseurs participant à l’appel peuvent aussi soumettre des questions durant l’appel via le compte Twitter ou Facebook, et, si le temps le permet, seront répondues sur le champ. La Compagnie va compiler les questions/réponses couvertes durant l’appel et va les publier sur son site web et Facebook au plus tard à 18H00 le mercredi 10 mai 2017.

À propos de Les Technologies Peak Positioning inc. :

Les Technologies Peak Positioning inc. est une société de gestion de portefeuille en TI dont la mission est d’assembler, de financer et de gérer un portefeuille comprenant des actifs et des sociétés à haut potentiel de croissance opérant dans les secteurs économiques les plus effervescents en Chine, tels que le fintech, le e-commerce et les services infonuagiques. Peak donne l’opportunité à ses actionnaires de participer aux secteurs économiques les plus en expansion de l’économie avec le taux de croissance le plus rapide au monde. Pour plus d’information : http://ift.tt/1byd5XT

Déclarations prospectives :

Certains énoncés formulés dans le présent communiqué de presse sont des énoncés prospectifs, y compris des déclarations relatives à l’activité commerciale et aux stratégies d’affaires, aux plans et perspectives, qui se définissent par l’utilisation de termes tels que “anticiper”, “croit”, “pourrait” ,”devrait”, “s’attend”, “prévoit”, “estime”, “anticipe”, “espère” ou autres variantes comparables. Ces énoncés sont fondés sur l’information disponible au moment où ils sont formulés, sur des hypothèses établies par la direction et sur les attentes de la direction, agissant de bonne foi, à l’égard d’événements futurs, et ne constituent pas une garantie de résultat. Les énoncés prospectifs sont aussi sujet, de par leur nature, à des risques, à des incertitudes et à des hypothèses. Sauf dans la mesure requise par les lois sur les valeurs mobilières, la Société n’a aucune obligation de mettre à jour ou de réviser les énoncés prospectifs pour refléter de nouvelles informations, de nouveaux événements ou de nouvelles circonstances. Par conséquent, il est recommandé aux lecteurs d’analyser et d’évaluer prudemment ces énoncés prospectifs.

Pour toute information communiquez avec:

Cathy Hume
Chef de la direction
CHF Investor Relations
Tél.: 416-868-1079 poste : 231
Courriel: cathy@chfir.com                 

Ou

Johnson Joseph
Président et chef de la direction
Les Technologies Peak Positioning inc.
Tél.: 514-340-7775 poste : 501
Courriel: investisseurs@peakpositioning.com

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Peak Files 2016 Year End Results and Operating Highlights

Montreal, Quebec–(Newsfile Corp. – April 28, 2017) – Peak Positioning Technologies Inc. (CSE: PKK) (“Peak” or the “Company”) today announced its financial results and reviewed highlights for the year ended December 31, 2016. All amounts expressed are in Canadian dollars.

Financial Highlights:

  • Closing of $3.98M in private placement financing
  • Elimination of $500,000 worth of debt through exercise of conversion feature of convertible debenture
  • Total revenues of $58.1M
  • Net loss of $2.6M

Operating Highlights:

  • Establishment of holding subsidiary in Hong Kong and operating subsidiary in Shanghai
  • Strategic investment partnership with Zhonghai Wanyue Group (“ZHWY”) Chairman
  • Signing of raw material purchase order commitment agreements worth combined $600M
  • Launch of Gold River platform
  • Processing of first transactions on Gold River platform

Review of 2016:

2016 was a pivotal year for Peak in which the Company achieved several key milestones, all made possible by the closing of its $3.98M strategic investment partnership with ZHWY Chairman, Mr. Jiang Wang. That transaction ushered in a new era of financial stability for the Company and provided the resources to allow Peak to set the foundations of its operations in China. Always mindful for the need to eventually repatriate profits from its Chinese operations to Canada, the Company adopted a corporate ownership structure according to guidelines prescribed by the Chinese government to allow foreign owned parent companies of operating Chinese subsidiaries to repatriate profits made by their subsidiaries outside of China. The Company therefore created subsidiary holding companies in both Hong Kong and Shanghai prior to establishing its first operating subsidiary, Asia Synergy Technologies (“AST”), in Shanghai to manage its Gold River raw materials product procurement and financial services platform. Once created, AST was able to quickly secure a series of purchase order commitments for transactions to be processed through December 2017 approximately worth a combined $600M. Gold River was officially launched in Q3 2016 and went on to process $26M worth of orders that same quarter, which validated the demand for the services offered by the platform.

Following the launch of Gold River and after carefully studying the commercial lending space in China, the Company saw an opportunity to not only help buyers of raw materials with the financial assistance they needed through the Gold River platform, but to also potentially impact the commercial lending industry as a whole. After discussions with a handful of solution providers with products that could potentially make lending easier in China, the Company settled on a commercial lending solution developed by Canadian fintech company Cubeler Inc. (“Cubeler”). Discussion with Cubeler accelerated quickly, to the point where the Company was confident enough of an eventual agreement with Cubeler to begin formulating a model for commercializing the platform in China. While working the business model for the commercialization of Cubeler, the Company was presented with an opportunity to have its very own financial institution subsidiary, which would be able to assume the primary financial roles on both the Gold River and the Cubeler platforms and add a completely different dimension to the Company’s revenue potential. Having an affiliated financial partner as part of Gold River’s operations, meant that the Company would have to make a slight adjustment to AST’s business model. The adjustment implied that AST would now earn a slightly lower financing referral fee on Gold River and would have to postpone Gold River’s financing transactions until those financing opportunities could be referred the affiliated financial institution. This in turn meant that AST’s revenues for Q4 2016 would be less than originally projected.

Outlook for 2017:

Ever since the idea of having its own financial institution subsidiary began to circulate in Q4 2016, the Company began the process to find the right financial partners for a potential joint venture that would lead to the creation of that subsidiary, named Asia Synergy Financial Capital (“ASFC”). Considering the impact that ASFC is expected to have on the Company’s Chinese operations and its bottom line, a great deal of attention will be allocated by the Company’s management in 2017 to sign agreements with one or more financial partners to get ASFC established as quickly as possible. As of the date of this news release the Company was in discussions with a number of potential financial partners who had expressed an interest in making a direct investment in a joint venture transaction with the Company for the creation of ASFC.

Once it’s up and running, ASFC will be the only financial institution on Gold River, and as such will earn interest only on the credit it extends on the platform. However, things will be different on Cubeler as the platform is intended to have many other lenders who will be extending loans and credit on the platform along with ASFC. Under the Cubeler business model, Asia Synergy Data Solutions (“ASDS”), Peak’s newly created subsidiary and the platform operator, will charge and collect a 2% fee on all credit products offered on the platform. That fee will be shared between ASDS, ASFC and the insurance company providing insurance of the platform’s credit products. So in addition to earning interest on its own loans, ASFC will also earn a percentage of the value of every loan and credit product extended on the platform by all platform lenders. The more lenders on the platform, the more credit transactions facilitated by the platform, the more revenues ASFC will earn.

“We couldn’t be more excited about the prospect of owning our very own financial institution”, commented Johnson Joseph, President and CEO of Peak. “From the discussions that I’ve had with some investors since the release of our revised executive summary presentation, it would unfortunately appear that many of them are so focussed on our lower revised target revenues for AST that they fail to realize that the financial impact that ASFC is expected to have on the Company will more than offset AST’s reduced revenue targets. Hopefully, that will be clear once we publish our revenue targets for ASFC in a few weeks” concluded Mr. Joseph.

Fiscal 2016 financial results summary:

The Company generated $58,091,907 in the sale of raw material products in Fiscal 2016 ($36,400 in consulting revenues in Fiscal 2015). The transactions that contributed to the Company’s revenues and gross profit were limited to a specific category of transactions. Some purchase order transactions that would have required financing were postponed until such a time that ASFC would be in a position to provide the financing needed to complete the purchase orders. So the lower than expected gross margins realised by AST on the reported revenues can be attributed to the fact that transactions on which AST was expected to make higher profit margins did not happen in Fiscal 2016. On a cumulative basis, revenues generated were at $58,091,907 with a gross profit of $289,669 of compared to $36,400 for the same period last year.

Expenses (excluding the cost of sales) for fiscal 2016 amounted to $2,938,773, compared to $1,864,494 in 2015. If we exclude the non-recurring items such as impairment of loss of investments of $350,000 compared to $0 in 2015, $0 in impairment in goodwill in 2016 compared to $698,750 in 2015; $0 impairment of technology in 2016 compared to $491,084 in 2015, forgiveness of debt and extinguishment of debt of $196,452 in 2016 compared to ($524,801) in 2015 and gain in 2015 on contingent compensation payable of $230,000, the difference can be explained by an increase in salaries given the start of Chinese operations, consulting fees, public relations, rental expenses and travel. Finance costs went down in 2016 since some debentures were converted reducing de facto the interests costs.

The net loss for the year was $2,649,104 compared to $1,828,399 in 2015. Full details of the Company’s 2016 financial results can be found in the Audited Consolidated Financial Statements and Management’s Discussion and Analysis (MD&A) for the years ended December 31, 2016 and 2015, which are available at www.sedar.com.

Investor Conference Call:

Peak will hold a 30-minute investor conference call at 4:15pm (EST) on Monday May 8, 2017 to discuss the Company’s Q4 2016 financial results, the adjustment to its business model with the planned creation of a financial institution subsidiary, and its revenue targets for 2017. Those interested in attending the investor conference call can do so by dialing toll-free: 855-453-6961 and enter the passcode: 4569772. The conference call will be in a Q&A format, which will be preceded by a brief overview of the Company’s 2016 operational highlights. The Company’s investors are invited to submit their questions to investors@peakpositioning.com with the subject line: “Year-end 2016 Conference Call”. All questions received by 5:00pm (EST) Thursday May 4, 2017 will be answered during the call by the Company’s President and CEO, Mr. Johnson Joseph. Investors attending the call can also submit additional questions during the call via the Company’s Twitter or Facebook page which, time permitting, may also be answered during the call. The Company will then compile a list of the questions and answers covered during the call and post them on its website and Facebook page by 6:00pm (EST) Wednesday May 10, 2017.

Forward-Looking Statements / Information:

This news release may include certain forward-looking information, including statements relating to business and operating strategies, plans and prospects for revenue growth, using words including “anticipate”, “believe”, “could”, “expect”, “intend”, “may”, “plan”, “potential”, “project”, “seek”, “should”, “will”, “would” and similar expressions, which are intended to identify a number of these forward-looking statements. Forward-looking information reflects current views with respect to current events and is not a guarantee of future performance and is subject to risks, uncertainties and assumptions. The Company undertakes no obligation to publicly update or review any forward-looking information contained in this news release, except as may be required by applicable laws, rules and regulations. Readers are urged to consider these factors carefully in evaluating any forward-looking information.

About Peak Positioning Technologies Inc.:

Peak Positioning Technologies Inc. is an IT portfolio management company whose mission is to assemble, finance and manage a portfolio of high-growth-potential companies and assets in some of the fastest growing tech sectors in China, including Fintech, e-commerce and cloud-computing. Peak provides its shareholders with exceptional growth potential by giving them access to the fastest growing sectors of the world’s fastest growing economy. For more information: http://ift.tt/1byd5XT

Contact information:

Cathy Hume
CEO
CHF Investor Relations
Phone: 416-868-1079 ext.: 231
Email: cathy@chfir.com

Or

Johnson Joseph
President and CEO
Peak Positioning Technologies Inc.
Phone: 514-340-7775 ext.: 501
Email: investors@peakpositioning.com

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Zinc One Announces Forrester Repays Debts Due On April 28, 2017

Vancouver, British Columbia–(Newsfile Corp. – April 28, 2017) – Zinc One Resources Inc. (TSXV: Z) (OTC Pink: ZZZOF) (FSE: RH33) (“Zinc One“) and Forrester Metals Inc. (“Forrester”) announce that Forrester has repaid its matured debt that was due on April 28, 2017 in the amount of $910,225, which amount includes the portion of the 12% convertible debentures that were not converted to shares under the Plan of Arrangement and two shareholder loans. The funds to repay these matured debts were advanced by Zinc One pursuant to the terms of a short term loan agreement to provide bridge funds in advance of closing of the Plan of Arrangement. The loan has a maturity date of August 31, 2017 with interest compounded at an annual rate of 2%. Zinc One and Forrester plan to close the Plan of Arrangement in early May once the $10,000,000 Zinc One private placement financing has closed and regulatory approvals have been received. The Plan of Arrangement between Forrester and Zinc One was overwhelmingly approved by Forrester shareholders and the Ontario Superior Court of Justice issued a final order approving the transaction (see press releases of April 24, 2017 and April 27, 2017).

About Zinc One Resources Inc.

Zinc One is a Vancouver based company focused on the acquisition, exploration and development of prospective and advanced zinc projects. Zinc One believes in the current and future fundamentals of the zinc supply and demand scenario and the continued growing demand for zinc in global industrial uses.

About Forrester Metals Inc.

Forrester Metals is a Canadian mining company focused on the exploration and development of Peru’s mineral potential. Forrester has six projects including two zinc properties, Azulcocha West and the Bongará Zinc Mine and the Charlotte Bongará Zinc Project.

For more information, please contact:

James Walchuck, CEO and President of Zinc One at (604) 683 0911 or info@zincone.com
Bill Williams, CEO of Forrester at (416) 364 7739 or bwilliams@forrestermetals.com

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Each of Zinc One and Forrester cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond their respective control. Such factors include, among other things: risks and uncertainties relating to each of Zinc One and Forrester’s limited operating history, ability to complete the proposed Transaction (including obtaining all necessary shareholder and regulatory approvals), ability to close the Private Placement Financing and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, neither Zinc One nor Forrester undertakes no obligation to publicly update or revise forward-looking information.

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

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Vendetta Mining Closes $4,238,219 Private Placement

Vancouver, British Columbia–(Newsfile Corp. – April 28, 2017) – Vendetta Mining Corp. (TSXV: VTT) (“Vendetta” or the “Company”) is pleased to announce that it has closed an oversubscribed private placement announced on April 10th, 2017 (and revised April 24th, 2017). The Company issued a total of 21,191,095 units at a price of $0.20 per unit for gross proceeds of $4,238,219; each $0.20/unit comprises one common share and one-half of one common share purchase warrant exercisable for two years at a price of $0.30 subject to certain acceleration terms.

Net proceeds from the financing will be used for the 2017 resource development program at the Company’s Pegmont lead-zinc deposit in Queensland, Australia and general working capital. A more detailed description of the 2017 planned program is contained in the April 10th news release.

Total commissions of $131,716 were paid and 667,780 finders warrants were issued associated with the proceeds of this private placement.

About Pegmont

The Pegmont lead-zinc-silver deposit is located in North West Queensland Mineral Province, 175 km south-east of the major mining centre of Mount Isa, and 25 km west of South32’s world class Cannington silver-lead-zinc operation and 28 km north of Chinova Resources’ Osborne and Kulthor copper-gold operations. It is proximate to infrastructure including roads, rail, and natural gas for power generation.

Pegmont is a multiple lens, stratiform Broken Hill style deposit that outcrops with an overall shallow dip to the south east and is hosted in a magnetite rich banded iron formation within high grade metamorphic rocks. The Company has, through its programs confirmed Zone 5 is an area of higher grade zinc and multiple mineralized horizons. The project consists of three granted mining leases and two exploration permits that cover an area of approximately 3,468 ha.

About Vendetta Mining Corp.

Vendetta Mining Corp. is a Canadian junior exploration company focused on advanced stage exploration and development at the Pegmont Lead Zinc Project in Australia. Vendetta has an option to acquire a 100% interest by completing certain work requirements and making option and advance royalty payments. Additional information on the Company can be found at http://ift.tt/1NzJP6l

Qualified Person

Peter Voulgaris, MAusIMM, MAIG, a Director of Vendetta, is a non-independent qualified person as defined by NI 43-101. Mr. Voulgaris has reviewed the technical content of this press release, and consents to the information provided in the form and context in which it appears.

ON BEHALF OF THE BOARD OF DIRECTORS

“Michael Williams”

Michael Williams
President & CEO
(604) 484-7855

Forward Looking Information

This news release includes forward-looking statements that are subject to risks and uncertainties.  Forward-looking statements involve known and unknown risks, uncertainties, and other factors that could cause the actual results of the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements.

Disclaimer

All statements within, other than statements of historical fact, are to be considered forward looking. Although Vendetta Mining Corp. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include: the completion of the full exploration program for which the use of proceeds is geared toward, the accuracy of exploration results, the accuracy of Mineral Resource Estimates, the anticipated results of future exploration, the forgoing ability to finance further exploration, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this news release and as such, accepts no responsibility for the adequacy or accuracy of this release.

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Osprey Files NI 43-101 Updated Mineral Resource Technical Report for the Goldenville Gold Project, Nova Scotia, Canada

Vancouver, British Columbia–(Newsfile Corp. – April 28, 2017) – OSPREY GOLD DEVELOPMENT LTD. (TSXV: OS) (the “Company” or “Osprey”) is pleased to report that, further to its news release dated March 16th, 2017, it has filed on SEDAR the National Instrument 43-101 “NI 43-101 Independent Technical Report, Goldenville Project, Guysborough County, Nova Scotia”, highlighting the Goldenville Project’s updated gold mineral resources.

As previously reported, the updated estimate yielded an increase of 60% in Inferred ounces (a 72% increase on an uncapped basis) over the previous estimate with an updated Inferred Resource of 2,800,000 tonnes at 3.20 grams per tonne (“g/t”) gold for 288,000 ounces of gold (2,800,000 tonnes at 4.96 g/t gold for 447,000 ounces of gold uncapped). The resource estimate was completed by David G. Thomas, M.Sc., P. Geo. and Neil Pettigrew, M.Sc., P. Geo. of Fladgate Exploration Consulting Corporation (“Fladgate”) based in Thunder Bay, Ontario.

The report titled “NI 43-101 Independent Technical Report, Goldenville Project, Guysborough County, Nova Scotia” is filed on SEDAR and can be viewed on the SEDAR website, www.sedar.com, and the Company’s website: www.ospreygold.com.

About Goldenville and Osprey

Osprey is focused on exploring four historically producing gold properties in Nova Scotia, Canada. Osprey has the option to earn 100% (subject to certain royalties) in all four properties, including the Goldenville Gold Project, Nova Scotia’s largest historic gold producer.

Neil Pettigrew, M.Sc. P.Geo, is a ‘Qualified Person’ for the purpose of National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian securities administrators (“NI 43-101”). He has approved the disclosure of, and is the ‘Qualified Person’ responsible for the scientific and technical information in this news release. He has verified the data disclosed.

ON BEHALF OF OSPREY GOLD DEVELOPMENT LTD.

Cooper Quinn
Cooper Quinn, President

For further information please contact Osprey at (236)521-0944 or info@ospreygold.com

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.

All statements in this press release, other than statements of historical fact, are “forward-looking information” with respect to Osprey within the meaning of applicable securities laws. Osprey provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to those identified and reported in Osprey’s public filings under Osprey’s SEDAR profile at http://www.sedar.com.  Although Osprey has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Osprey disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.

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Barisan Gold Corp. Announces Completion of Consolidation, Private Placement and Acquisition

Vancouver, British Columbia–(Newsfile Corp. – April 28, 2017) – Barisan Gold Corporation (TSXV: BG) (the “Company”) is pleased to announce that on May 2, 2017 the Company shall complete of its previously announced consolidation, private placement and acquisition of the Railroad Valley lithium brine property located in Nevada, and the Black Canyon lithium clay property located in Arizona.

Consolidation

The Company shall complete the consolidation of the Company’s issued and outstanding common shares (the “Common Shares“) on the basis of one (1) post-consolidation Common Share for every five (5) pre-consolidation Common Shares (the “Consolidation“). The Board concluded that the Consolidation would be in the best interests of the Company’s shareholders as it could lead to increased interest by a wider investor audience and better position the Company to obtain financing and pursue acquisition opportunities.

Private Placement

Further to the Company’s news releases dated September 8, 2016 and March 21, 2017, the Company shall complete a private placement of 7,500,000 units, on a post-consolidated basis, at a price of $0.10 per unit for gross proceeds of $750,000. Each unit comprises of one common share of the Company and one non-transferable common share purchase warrant. Each common share purchase warrant is exercisable to acquire one additional common share of the Company for a period of 24 months at a post consolidated price of $0.15 per share purchase warrant.

The Company shall pay a finder’s fee of $800 in connection with the private placement. The Company intends to use the proceeds from the private placement to finance exploration on the Railroad Valley lithium brine property, and the Black Canyon lithium clay property, and to review and assess additional technology metal natural resources exploration and development properties as well as general administrative purposes.

Acquisition of Railroad Valley Lithium Property and the Black Canyon Lithium Property

Further to the Company’s news release dated July 18, 2016, the Company shall complete the acquisition from DG Resource Management Ltd. (“DGRM“) and Arizona Lithium Company Limited (“ALCL“) of the Railroad Valley Lithium Property located in south-central Nevada and consisting of 199 placer claims totalling 9,835 acres (the “Railroad Valley Lithium Property“) and the Black Canyon Lithium Property located in central Arizona and consisting of two exploration permit applications totalling 360 hectares (the “Black Canyon Lithium Property“).

Pursuant to a property purchase agreement among the Company, DGRM and ALCL dated July 15, 2016, the Company shall have paid $100,000 to DGRM and shall issue 4,133,723 common shares, representing 19.99% of the issued and outstanding shares of the Company.

Concurrent with the foregoing, the Company shall change its name to Lithion Energy Corp. with the trading symbol “LNC“.

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.

To receive or stop receiving BG news via email, please email info@barisangold.com and state your preference in the subject line.

FOR FURTHER INFORMATION, visit the Company’s website at www.barisangold.com, or contact:

Investor Relations
Vancouver
T: +1 604 365 6681
E: info@barisangold.com

Caution Regarding Forward Looking Statements

Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; and general market and mining exploration risks. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof.

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Barisan Gold Corp. Announces Completion of Shares for Debt Settlement

Vancouver, British Columbia–(Newsfile Corp. – April 28, 2017) – Barisan Gold Corporation (TSXV: BG) (the “Company”) announces that further to its news release dated July 18, 2016, the Company has issued 12,546,370 common shares at the deemed price of $0.05 per common share in settlement of outstanding debt of $627,319 and announces August 26, 2017 as the hold period expiry date.

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.

To receive or stop receiving BG news via email, please email info@barisangold.com and state your preference in the subject line.

FOR FURTHER INFORMATION, visit the Company’s website at www.barisangold.com, or contact:

Investor Relations
Vancouver
T: +1 604 365 6681
E: info@barisangold.com

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