Opawica Explorations Inc. Announces Resignation of Officer and Director

Vancouver, British Columbia–(Newsfile Corp. – March 31, 2018) – Opawica Explorations Inc. (TSXV: OPW) (the “Company”) announces the resignation of Mr. Paul Antoniazzi as Chairman, President, Chief Executive Officer and director of the Company for personal reasons effective immediately. The Company would like to thank Mr. Antoniazzi for his many years of service to the Company.

The Company is pleased to announce the appointment of Mr. Mark Lofthouse as the new Chairman, President and Chief Executive Officer of the Company effective immediately. Mr. Lofthouse has been a director of the Company since March 2011.

ABOUT OPAWICA EXPLORATIONS INC.

Opawica Explorations Inc. is a junior resource company engaged in the acquisition, exploration and evaluation of gold and base metal mineral properties in Canada. The Company owns 100% interest subject to certain royalties in the Bazooka gold property located in the Beauchastel Township approximately seven kilometres southwest of Rouyn-Noranda, Quebec. The Bazooka property comprises seven contiguous kilometres of strike length along the prolific Abitibi Gold Belt on the Cadillac Larder Lake Break. The eastern border of the Bazooka gold property adjoins Yorbeau Resources Inc.’s Rouyn Property and the western border adjoins Monarques Gold Corporation’s Wasamac gold property (2,882,000 oz Au resources per Monarques NI 43-101 technical report dated October 25, 2017). The Company also holds 100% interest subject to certain royalties in the McWatters gold property in the Rouyn-Noranda area and the Arrowhead gold property in the Joannes Township, Quebec.

For more information, please visit the Company’s website at www.opawica.com.

FOR FURTHER INFORMATION CONTACT:

Mark Lofthouse
Chairman, President and Chief Executive Officer
Opawica Explorations Inc.
Telephone: 604-681-3170
Fax: 604-681-3552

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

from Newsfile Corp News Releases https://ift.tt/2GrSsQw

Advertisements

RT Minerals Corp. Announces Resignation of Officer and Director

Vancouver, British Columbia–(Newsfile Corp. – March 31, 2018) – RT Minerals Corp. (TSXV: RTM) (OTC Pink: RTMFF) (the “Company”) announces the resignation of Mr. Paul Antoniazzi as President, Chief Executive Officer and director of the Company for personal reasons effective immediately. The Company would like to thank Mr. Antoniazzi for his many years of service to the Company.

The Company is pleased to announce the appointment of Mr. Edmond Hatoum as the new Chairman, President and Chief Executive Officer of the Company effective immediately. Mr. Hatoum has been a director of the Company since February 2015.

ABOUT RT MINERALS CORP.

RT Minerals Corp. is a junior resource company engaged in the acquisition, exploration and evaluation of primarily gold and diamond properties in Canada. The Company’s principal mineral properties include the 100% optioned Norwalk and Dill River gold properties that are respectively contiguous to the southern and eastern borders of Red Pine Exploration Inc.’s Wawa Gold Project near Wawa, Ontario; the 100% owned Golden Reed Mine gold property that is staked within Red Pine’s Wawa Gold Project; the 100% owned South Wawa gold property that is bordered to the north by Red Pine; the 100% owned Ballard Lake diamond and gold property located ~50 km ENE of Wawa, Ontario; and the 100% owned Dog Lake gold property located ~59 km NE of Wawa, Ontario.

The Company’s common shares are listed on the TSX Venture Exchange under the symbol “RTM” and on the OTC Pink Market under the symbol “RTMFF” with DTC eligibility for trading in the United States.

For more information on the Company and its properties, please visit the Company’s website at www.rtmcorp.com.

FOR FURTHER INFORMATION CONTACT:

Edmond Hatoum
Chairman, President and Chief Executive Officer
RT Minerals Corp.
Telephone: 604-681-3170
Fax: 604-681-3552

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

from Newsfile Corp News Releases https://ift.tt/2pSuXtO

China Keli Announces Q3 2018 Results

Quarterly Year-Over-Year Revenue down by 28% with Loss Maintained and Six Months Year-Over-Year Revenue down by 0.6% with Higher Gross Margin and Loss Reduced By 45% Recorded

Vancouver, British Columbia–(Newsfile Corp. – March 31, 2018) – China Keli Electric Co., Ltd. (TSXV: ZKL) (“Keli” or the “Company”) today announced the financial and operating results for the three months and nine months ended January 31, 2018.

For the three months ended January 31, 2018 (“Q3 2018”), total revenue was $1,731,627, a decrease of 28% over the three months ended January 31, 2017 (“Q3 2017”) of $2,407,679, caused by the decrease in revenue from products sales and installation services. Gross profit in Q3 2018 was $350,448 representing 20% of revenue which decreased 31% over Q3 2017 of $509,814, which was 21% of revenue. Operating expenses were $1,059,326 in Q3 2018, a decrease from $1,175,446 in Q3 2017, caused by the decrease of salary and benefits, entertainment, travelling expenses, office expenses, research and development expenses, and the reversal of inventory write-down. With the 4% increase in financing costs of $260,735 in Q3 2018 ($250,663 in Q3 2017), the total expenses remained decreased. Although the total expenses decreased, the Company still recorded a net loss of $830,282 in Q3 2018, compared with a net loss of $824,447 in Q3 2017. The loss resulted from lower gross margin, offset by the effective cost control of operating expenses which are expected to be continued. Basic and diluted loss per share (“EPS”) were -0.009 cents in Q3 2018, compared with -0.009 cents in Q3 2017. EBITDA was negative $322,574 in Q3 2018, a slightly increase from negative $316,390 in Q3 2017. After accounting for an unrealized foreign exchange translation loss of $49,199, the Company reported total comprehensive loss of $879,481 in Q3 2018, compared with total comprehensive loss of $849,699 in Q3 2017. The Company’s unrealized foreign exchange income on translation of the Company’s functional currency to its reporting currency is subject to fluctuations in the exchange rate between the RMB and the Canadian dollar in each reporting period.

For the nine months of FY2018, total revenue was $9,122,625, a decrease of 0.6% over $9,179,942 for the equivalent nine months period in FY2017. The Company recorded a net loss of $1,224,301 in the first nine months of FY2018, compared to a loss of $2,229,546 in same period in FY2017, a reduction of 45%. This was mainly caused by an increase in gross margin and decrease in operating expenses, especially in the reversal of inventory write-down. For the nine months of FY2018 comprehensive net loss narrowed down to $1,195,496 over the same period $2,217,249, in FY2017.

As of January 31, 2018, the Company had total cash and cash equivalents of $720,387 compared with $737,145 as of April 30, 2017. Accounts receivable was $10,454,347 as at January 31, 2018, a decrease of 9.6% compared with $11,559,177 as at April 30, 2017, which was attributed to the decrease in sales of product revenue during the period. The Company’s working capital deficit remained to be negative $14,451,163 as at January 31, 2018 from negative $14,171,173 as at April 30, 2017.

The functional currency of the Company and its subsidiaries is Chinese Yuan (also known as “Renminbi” or “RMB”). The financial and operating results of the relevant periods have been translated into Canadian dollars. Depending on the magnitude of changes in foreign currency exchange rates, the impact on the financial and operating results may or may not be material.

Full financial results of the Company for the three and nine months ended January 31, 2018 are available on SEDAR at www.sedar.com.

About China Keli Electric Company Ltd.

China Keli Electric Company Ltd. specializes in the manufacturing and installation of electrical components and equipment, including pre-assembled mini substations, electrical controllers, pressurized and vacuumed switchgears and circuit breakers.

For further information, please contact:

CHINA KELI ELECTRIC COMPANY LTD.
Philip Lo, Chief Financial Officer
Tel. No.: (86) 13632 173732
Email: philip@zkl.cc

For further company information please access our website: www.zkl.cc

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 press release.

This press release contains forward-looking statements based on current expectations. These forward-looking statements entail various risks and uncertainties that could cause actual results to differ materially from those reflected in these forward-looking statements. Risks and uncertainties about Keli’s business are more fully discussed in the Company’s disclosure materials filed with the securities regulatory authorities in Canada. All amounts are stated in Canadian dollars unless noted otherwise.

from Newsfile Corp News Releases https://ift.tt/2uBmgJd

Nearctic Nickel Mines: Action Commenced Against Numerous Parties for Conspiracy, Interference with Contractual Relations and Other Faults

Montreal, Quebec–(Newsfile Corp. – March 30, 2018) – Glen Erikson, President of Nearctic Nickel Mines Inc. (the “Company“), announces that its indirect subsidiary, Ungava Mineral Exploration Inc., has commenced a legal action on Quebec for conspiracy, interference with contractual relations and other faults against numerous parties. The Motion to Institute Proceedings for Damages will be annexed to the Material Change Report which will be filed on SEDAR in connection with this press release.

For further information, contact:

Glen Erikson
President
Nearctic Nickel Mines Inc.
Telephone No: (905) 274-7188

This news release contains forward-looking statements within the meaning of “safe harbour” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties and other factors which may cause the Company’s results to differ materially from expectations. These include risks relating to market fluctuations, investee performance and other risks. These forward-looking statements speak only as of the date hereof. The Company disclaims any intent or obligation to update these forward-looking statements.

from Newsfile Corp News Releases https://ift.tt/2J6tiJ5

Kandi Model K23 Production Launched by Kandi Electric Vehicles (Hainan) Co., Ltd.

Jinhua, China–(Newsfile Corp. – March 30, 2018) – Kandi Technologies Group, Inc. (NASDAQ GS: KNDI) (the “Company” or “Kandi”) today announced that the Kandi Model K23 production launch ceremony was hosted by Kandi Electric Vehicles (Hainan) Co., Ltd. (“Kandi Hainan”). Government officials from Hainan Province and Haikou City, and executives from the National High-tech Zone Administrative Committee, Financial Institutions, Vocational Colleges, etc., attended the ceremony.

Figure 1: Kandi Model K23 production launch ceremony

To view an enhanced version of Figure 1, please visit: 
https://orders.newsfilecorp.com/files/2079/33783_a1522383138087_1.jpg

“With its ecological environment known for having the best air quality in China, Hainan is China’s most popular top-tier tourist destination. Hainan is most likely going to become the first province in China to ban the use of fuel vehicles. Kandi’s intention to develop a pure electric vehicle manufacturing business in Hainan will best serve the purpose of environmental protection for the world-class tourism island.” Mr. Hu Xiaoming, Chairman and CEO of Kandi said. During Mr. Hu’s comments at the ceremony, he conveyed his gratitude for the continuous support and guidance from the provincial and municipal governments during Kandi’s Hainan investment journey. He also announced his confidence in future vehicle sales and his intent to accelerate production to bring the vehicle to market as soon as possible.

Ms. Li Dongqing, Deputy Director of Haikou National Hi-tech Zone, said in her speech that Kandi’s electric vehicle project is exactly what Haikou Hi-tech Zone is looking for. She stated that Kandi’s electric vehicle brings the energy to drive the momentum for further reform to Hainan’s hi-tech industry development. Finally, she congratulated the launch of Kandi’s Model K23 and reaffirmed her continuous support for Kandi’s business in Hainan.

In addition, Mr. Peng Gang, the General Manager of Chongqing Transportation Leasing Co., Ltd., expressed his congratulations to Kandi for the production launch. He stated that he believes leasing is the most practical solution to grow the pure electric vehicle market, and since the model K23 meets the ride-hailing vehicle requirement, the vehicle will be very well-received in the leasing market.

Kandi Model K23 incorporates internationally-recognized advanced driver technology, and features a touchscreen control interface, high-pressure 4-in-1 power controls, an automated collision prevention system, an ultra-lightweight structure, increased motor efficiency, a superior battery-energy ratio, and wireless internet capabilities, among other exciting features. The Model K23 has a maximum speed of 100 km/h, a wheelbase of 2650 mm and a drive range of more than 300 km. As a crossover vehicle, K23 blends the elements of “cowboy” and “sportiness” to create the latest fashion in sedan and MPV design. It is considered to be one of the JV Company’s All-Star Models.

About Kandi Technologies Group, Inc.

Kandi Technologies Group, Inc. (KNDI), headquartered in Jinhua, Zhejiang Province, is engaged in the research and development, manufacturing and sales of various vehicle products. Kandi has established itself as one of China’s leading manufacturers of pure electric vehicle (“EV”) products (through its joint venture), EV parts and off-road vehicles. Kandi conducts its primary business operations through its wholly-owned subsidiary, Zhejiang Kandi Vehicles Co., Ltd. (“Kandi Vehicles”), and the partially and wholly-owned subsidiaries of Kandi Vehicles. 

More information can be viewed at the Company’s corporate website at http://www.kandivehicle.com. The Company routinely posts important information on its website. 

Safe Harbor Statement 

This press release contains certain statements that may include “forward-looking statements.” All statements other than statements of historical fact included herein are “forward-looking statements.” These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including the risk factors discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on the SEC’s website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these risk factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements. 

Follow us on Twitter: @ Kandi_Group 
Company Contact: 

Ms. Kewa Luo 
Kandi Technologies Group, Inc. 
Phone: 1-212-551-3610 
Email: IR@kandigroup.com

from Newsfile Corp News Releases https://ift.tt/2Gn66Zu.

Arctic Star Announces Closing of First Tranche of Private Placement

Vancouver, British Columbia–(Newsfile Corp. – March 30, 2018) – Arctic Star Exploration Corp. (TSXV: ADD) (OTCQB: ASDZF) (FSE: 82A1) (the “Company” or “Arctic Star“) announces that it has completed the first tranche of its previously announced non-brokered private placement (the “Private Placement“), as described in its News Release dated March 23, 2018, pursuant to which it has issued an aggregate of 4,200,000 units (each, a “Unit“) at a price of $0.17 per Unit for gross proceeds of $714,000. Each Unit consists of one common share in the capital of the Company (each, a “Share“) and one non-transferable share purchase warrant (each, a “Warrant“). Each Warrant is exercisable into one additional Share at a price of $0.25 per Share for a period of 24 months from the closing date. The Company intends on completing additional tranches of the Private Placement.

The securities issued under the Financing, and the shares that may be issuable on exercise of the Warrants, are subject to a statutory hold period expiring on July 30, 2018.

The Company paid cash finder’s fees of $57,120 to a certain finder and issued 336,000 share purchase warrants (the ”Finder’s Warrants“) to one finder in connection with the first tranche of the Financing. Each Finder’s Warrant is exercisable into one Share at a price of $0.17 per Share for a period of two years from the date of issuance.

The Company plans to use the proceeds from the Private Placement for exploration on the Timantti and Diagras Diamond Projects and for general working capital.

ON BEHALF OF THE BOARD OF DIRECTORS OF
ARCTIC STAR EXPLORATION CORP.

/s/ Patrick Power                               
Patrick Power, President
+1 (604) 218-8772

This news release contains “forward-looking statements” including but not limited to statements with respect to Arctic Star’s plans, the estimation of a mineral resource and the success of exploration activities. Forward-looking statements, while based on management’s best estimates and assumptions, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the completion of further tranches of the planned private placement and the Company’s plan to use all or some portion of the proceeds for exploration of the Foriet Diamond Property. 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. Factors that could affect our plans include the possibility that we are unable to raise all of the funds we are seeking to raise, in which event we may require all funds raised, if any, to be used for working capital rather than for exploration of the Foriet Diamond Property; in addition, our acquisition of the Foriet Diamond Property has not yet been approved by the TSX Venture Exchange, and our proposed use of proceeds is subject to receipt of that approval. Accordingly, readers should not place undue reliance on forward-looking statements. Arctic Star undertakes no obligation or responsibility to update forward-looking statements, except as required by law.

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.

from Newsfile Corp News Releases https://ift.tt/2J5xBo3

ACME Resources Corp. Closes Financing

Toronto, Ontario–(Newsfile Corp. – March 29, 2018) – ACME Resources Corp. (the “Company“) announces that it has closed a non-brokered private-placement offering of 2,006,000 common shares issued at a price of $CDN 0.25 per share (the “Offering“) for gross proceeds of $CDN 501,500.00. All securities issued in connection with the Offering are subject to a statutory four month plus one day hold period.

The proceeds received from the Offering will be used for general working capital purposes while the Company continues its restructuring and works toward completing a Definitive Agreement with Rapid Dose Therapeutics Inc. (“RDT“) pursuant to the Letter of Intent between the Company and RDT, the terms of which were previously announced on February 6, 2018.

The Company now has 5,272,190 shares issued and outstanding. Shares of the Company were delisted from the NEX Tier of the TSX Venture Exchange as of the close of trading on March 28, 2018.

For further information contact:

Paul Ankcorn – Chief Executive Officer
Telephone: (416) 866-2200

Cautionary Note Regarding Forward-looking Statements

Certain information in this press release may contain forward-looking statements. Such statements are based on the current expectations of the management of the Company. Trading in the securities of the Company should be considered highly speculative. Except as required by applicable securities laws, forward looking statements speak only as of the date on which they are made and, unless required by law, the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

from Newsfile Corp News Releases https://ift.tt/2pPpgg7