Seabridge Gold to Acquire Goldstorm Project in Northern Nevada

Purchase enhances strategic Snowstorm asset at intersection of three major gold trends

Toronto, Ontario–(Newsfile Corp. – June 5, 2019) – Seabridge Gold (TSX: SEA) (NYSE: SA) announced today that it has entered into a definitive agreement to acquire a 100% interest in the Goldstorm Project in northern Nevada from Mountain View Gold Corp. for 25,000 Seabridge common shares. Closing of the transaction is subject to the usual terms and conditions and the approval of the applicable stock exchanges.

The Goldstorm property consists of 134 mining claims and 1,160 leased acres (totaling approximately 3,900 acres or 15.9km2) located about 3km to the east of Seabridge’s 100%-owned Snowstorm Property. Snowstorm’s 80.3km2 of land holdings are strategically located at the projected intersection of three of the most important gold trends in Northern Nevada: the Carlin Trend, the Getchell Trend and the Northern Nevada Rift Zone (see map below). Snowstorm is contiguous, and on strike, with several large, successful gold producers including Getchell/Turquoise Ridge and Twin Creeks in the Barrick-Newmont Nevada Joint Venture and Hecla Mining’s’ Midas operations.

Goldstorm is in the Northern Nevada Rift (NNR), a geologic feature hosting many high grade gold-silver mines. This mineral trend is a discrete 5 to 30km wide linear magnetic high which trends 340o for more than 500km. The NNR is characterized by mafic and felsic volcanic centers associated with crustal extensions between 15.0 and 16.5 million years old.

Deposits in the NNR are low-sulfidation high grade epithermal deposits with elevated gold:silver ratios, generally containing around 1.0 to 5.0 million ounces of gold. Examples of such deposits in Nevada include Midas, Hollister and Fire Creek. Vein-filled faults are a common style of ore host, typically containing bonanza grade gold and silver. Gold and silver deposition in these veins can reach 500 meters of vertical extent.

Goldstorm has had limited exploration to date. Previous operators identified a series of northwest trending veins that showed strong pathfinder geochemistry and highly anomalous gold results. A surface trench on one of these veins yielded 3.0 meters of 9.0 g/T gold and 44.0 g/T silver. Mountain View’s limited drill testing of this vein returned promising grades including an intersection of 2.0 meters assaying 5.50 g/T gold of which 1.0 meter graded 9.29 g/T gold and 73g/T silver.

Seabridge Chairman and CEO Rudi Fronk noted that the Goldstorm acquisition provides potentially valuable targets of its own as well as insights into the Northern Nevada Rift targets on the east side of the Snowstorm property. “Snowstorm is a very valuable exploration asset for us and it will be a primary focus for our exploration team this year, including our first drill program on the project expected to begin later this summer. In preparation, we have staked additional claims where available. The Goldstorm purchase fits our strategy of expanding our footprint in these highly prospective gold trends where we intend to be a significant player.”

Exploration on the Snowstorm Project is being supervised by William Threlkeld, a Senior Vice President of the Company and a qualified person as defined in NI43-101. Mr. Threlkeld has reviewed and approved the technical discussion in this news release.

Seabridge Gold holds a 100% interest in several North American gold resource projects. The Company’s principal assets are the KSM and Iskut properties located near Stewart, British Columbia, Canada and the Courageous Lake gold project located in Canada’s Northwest Territories. For a breakdown of Seabridge’s mineral reserves and resources by project and category please visit the Company’s website at http://www.seabridgegold.net/resources.php

All reserve and resource estimates reported by the Corporation were calculated in accordance with the Canadian National Instrument 43-101 and the Canadian Institute of Mining and Metallurgy Classification system. These standards differ significantly from the requirements of the U.S. Securities and Exchange Commission. Mineral resources which are not mineral reserves do not have demonstrated economic viability.

ON BEHALF OF THE BOARD
“Rudi P. Fronk”
Chairman & C.E.O.

For further information, please contact:
Rudi P. Fronk, Chairman and C.E.O.
Tel: (416) 367-9292 • Fax: (416) 367-2711
Email: info@seabridgegold.net

Neither the Toronto Stock Exchange, New York Stock Exchange, nor their Regulation Services Providers accepts responsibility for the adequacy or accuracy of this release

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Map 1: Snowstorm Property

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NervGen Pharma Presenting at the 9th Annual LD Micro Invitational

Vancouver, British Columbia–(Newsfile Corp. – June 4, 2019) – NervGen Pharma Corp. (TSXV: NGEN) (OTCQB: NGENF) (“NervGen” or the “Company”), a regenerative medicine company dedicated to creating innovative solutions for the treatment of nerve damage, including spinal cord and peripheral nerve injury, today announced that Ernest Wong, NervGen Pharma’s President & CEO, will be presenting at the 9th Annual LD Micro Invitational on Wednesday, June 5 at 8:40AM PDT / 11:40AM EDT. In addition, NervGen representatives will be available for investor meetings during the event.

The 9th Annual LD Micro Invitational, which will feature over 200 companies and attended by over 1,000 individuals, is taking place on June 4th and 5th at the Luxe Sunset Bel Air Hotel in Los Angeles.

About NervGen

NervGen is restoring life’s potential by creating innovative solutions for the treatment of nerve damage, including spinal cord injuries and peripheral nerve injuries. The Company also continues to research secondary applications such as multiple sclerosis, stroke, acute myocardial infarction induced arrhythmia (“AMI”, commonly known as a heart attack) and other neurodegenerative diseases.

NervGen plans to initiate a Phase 1 human clinical trial for its lead compound, NVG-291, in early 2020 under an Investigational New Drug application with the US Food and Drug Administration. NervGen is advancing NVG-291 for the treatment of spinal cord injury as the Company believes this indication is a significant opportunity due to the current lack of non-surgical solutions in the market, the dramatic impact on quality of life and the high cost burden to the healthcare system. The Company believes NVG-291 as a therapy could alleviate or improve upon the symptoms and conditions associated with spinal cord injury and empower these patients to live more active and productive lives.

For further information, please contact: 

Bill Radvak, Executive Chairman
bradvak@nervgen.com

Follow NervGen on Twitter (@NervgenC) and LinkedIn (NervGen Pharma Inc.) for the latest news on the Company.

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.

Cautionary Note Regarding Forward-Looking Statements

This news release may contain “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian and United States securities legislation. Such forward-looking statements and information herein include, but are not limited to, the Company’s current and future plans, expectations and intentions, results, levels of activity, performance, goals or achievements, or any other future events or developments constitute forward-looking statements, including, without limitation, statements regarding advancement of NVG-291 toward clinical development and commercialization, the timing of human trials and regulatory approval, the potential efficacy of the Company’s products and technology, and the potential to identify, evaluate and develop other drug candidates. The words “may”, “will”, “would”, “should”, “could”, “expect”, “plan”, “intend”, “trend”, “indication”, “anticipate”, “believe”, “estimate”, “predict”, “likely” or “potential”, or the negative or other variations of these words or other comparable words or phrases, are intended to identify forward-looking statements.

Forward-looking statements are based on estimates and assumptions made by the Company in light of management’s experience and perception of historical trends, current conditions and expected future developments, as well as other factors that the Company believes are appropriate and reasonable in the circumstances. Many factors could cause the Company’s actual results, level of activity, performance or achievements or future events or developments to differ materially from those expressed or implied by the forward-looking statements, including without limitation, a lack of revenue, insufficient funding, reliance upon key personnel, the uncertainty of the clinical development process, competition, and other factors set forth in the “Risk Factors” section of the Company’s Prospectus, financial statements and Management Discussion and Analysis which can be found on SEDAR.com.

Readers should not place undue reliance on forward-looking statements made in this document. Furthermore, unless otherwise stated, the forward-looking statements contained in this document are made as of the date of this document, and the Company has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45299

Talon Metals Identifies a Highly Conductive Anomaly Extending East of the Current Massive Sulphide Unit with New Downhole Magneto-Metric Resistivity (MMR) Survey

Road Town, Tortola, British Virgin Islands–(Newsfile Corp. – June 3, 2019) – Talon Metals Corp.(TSX: TLO) (“Talon” or the “Company”) is pleased to provide an update on the Tamarack Nickel-Copper-Cobalt project (“Tamarack Project”), located in Minnesota, USA. The Tamarack Project comprises the Tamarack North Project and the Tamarack South Project.

In the ongoing process of prioritizing multiple exploration targets, the Company identified a new conductor using Magneto-Metric Resistivity (“MMR“). This conductor could represent an extension of the Massive Sulphide Unit (“MSU”).

In the 2017-2018 winter drill season, an MMR survey was completed with transmitting electrodes placed in drill holes 08TK0074 to the north and 16TK0233A to the south as shown in Figure 1. These electrodes energized the SMSU and MSU units and the resulting EM field was logged by receivers in drill holes 12TK0163 to the west and 14TK0210 to the east. The recorded vectors in drill hole 12TK0163 point towards the known mineralization as the source of the field while the recorded vectors in hole 14TK0210 point towards an area beyond the extent of the known MSU mineralization in the 138 zone. The newly modeled conductor is at the same elevation as the MSU (below the 138 Zone) indicating a potential extension to the east.

“MMR should increase the effectiveness of our exploration by allowing us to detect this style of massive sulphide mineralization from much greater distances than what is currently possible using conventional Downhole Electromagnetic (DHEM) methods. We will, however, continue to use conventional DHEM methods as they compliment the MMR. In our ongoing exploration, MMR will be used to detect the sulphides, while DHEM will be used to help refine and delineate the geometry of the mineralization,” said Talon Geophysicist and Consultant, Brian Bengert.

“Extending the Massive Sulphide Unit at the Tamarack Zone, below the 138 Zone and beyond the 138 Zone is one of our key objectives. A combination of MMR and DHEM techniques could increase the likelihood of detection while at the same time reducing the cost of discovery and delineation,” said Henri van Rooyen, CEO of Talon.

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Figure 1
: Oblique view of the Tamarack Zone (looking ~ NNE). Blue line: electric current loop going down hole 16TK0233A and 08TK0074. Holes 12TK0163 and 14TK0210 show the vector orientation of the electromagnetic field. Red and Orange lithology represents the MSU and SMSU mineralization respectively. Drill hole 14TK0210 MMR results indicate the potential continuity of an induced current in the direction of the pink arrow. Refer to Table 1 for drill hole locations.

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Planned Confirmation Survey

Talon is planning a test to validate the recent high conductor discovery with a survey utilizing a bipole that could be created by lowering the transmitting cables down borehole 16TK0233A and a surface electrode located at surface 1.5 km to the south of hole 16TK0233A- see Figure 2 below. Neighbouring drill holes would be downhole surveyed to model the electro-magnetic field and locate the centre of the high conductor.

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Figure 2: Oblique view looking NNW. Planned MMR in the southern section of the Tamarack Zone. The objective is to validate the emplacement of the eastern extension of the MSU. Refer Table 1 for drill hole locations

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Talon plans to follow-up with a drill hole once the previously modelled conductor has been confirmed.

Qualified Person and Technical Disclosure

Please see the technical report entitled “NI 43-101 Technical Report Preliminary Economic Assessment (PEA) of the Tamarack North Project – Tamarack, Minnesota” with an effective date of December 14, 2018 prepared by independent “Qualified Persons” (as that term is defined in NI 43-101) Leslie Correia (Pr.Eng), Silvia Del Carpio (P. Eng.) Tim Fletcher (P. Eng.), Daniel Gagnon (P. Eng.), Kebreab Habte (P. Eng.), Oliver Peters (P. Eng.), Tom Radue (P. Eng.), and Brian Thomas (P. Geo.) for information on the QA/QC, analytical and testing procedures at the Tamarack Project. Copies are available on the Company’s website (www.talonmetals.com) or on SEDAR at (www.sedar.com). The laboratory used is ALS Minerals who is independent of the Company.

Lengths are drill intersections and not necessarily true widths. True widths cannot be consistently calculated for comparison purposes between holes because of the irregular shapes of the mineralized zones.

Drill intersections have been independently selected by Talon. Drill composites have been independently calculated by Talon. The geological interpretations in this news release are solely those of the Company.

The locations and distances highlighted on all maps in this news release are approximate.

Mike Shaw, Vice President, Exploration of Talon is a Qualified Person within the meaning of NI 43-101. Mr. Shaw has reviewed, approved and verified the technical information disclosed in this news release, including sampling, analytical and test data underlying the technical information.

About Talon

Talon is a TSX-listed company focused on producing nickel responsibly for the electric vehicles industry. The high grade Tamarack Ni-Cu-Co Project is located in Minnesota, USA (which comprises the Tamarack North Project and the Tamarack South Project). The Company has a well-qualified exploration and mine management team with extensive experience in project management.

For additional information on Talon, please visit the Company’s website at www.talonmetals.com or contact:

Sean Werger
President
Talon Metals Corp.
Tel: (416) 361-9636 x102
Email: werger@talonmetals.com

Forward-Looking Statements

This news release contains certain “forward-looking statements”. All statements, other than statements of historical fact that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company. Such forward-looking statements include statements relating to the potential discovery of additional mineralization at the Tamarack Project, including to the Massive Sulphide Unit both within and outside of the Tamarack Zone, and the potential for Magneto-Metric Resistivity or Downhole Electromagnetic methods to successfully identify additional mineralization at the Tamarack Project. Forward-looking statements are subject to significant risks and uncertainties and other factors that could cause the actual results to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company.

Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

Table 1: Drill Hole Locations

Hole ID Easting
(m)
NORTHING (m) Elevation
(m)
Total depth (m) Azimuth Dip
08TK074 490845.7 5168867.2 389.3 531.9 250.2 -76.9
12TK0163 490871.6 5168723.5 388.9 813.66 271.1 -80.6
13TK0171 491049.2 5168348.3 388.7 641.9 157.4 -89.8
14TK0210 491257.0 5168687.6 388.6 489 270.9 -85.3
16TK0233A 490914.4 5168368.7 388.4 583.3 261.7 -82.3

 

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Atrium Mortgage Investment Corporation Announces June 2019 Dividend

Toronto, Ontario–(Newsfile Corp. – June 3, 2019) – Atrium Mortgage Investment Corporation (TSX: AI) is pleased to announce that its board of directors has declared a dividend for the month of June 2019 of $0.075 per common share, to be paid July 12, 2019 to shareholders of record June 28, 2019.

Atrium pays monthly dividends currently at an annual rate of $0.90 per share, plus a special dividend to shareholders of record at year-end to top-up the total dividends so that they equal its earnings in the year.

Shareholders are reminded that Atrium offers a dividend reinvestment plan (DRIP) that allows them to automatically reinvest their dividends in new shares of Atrium at a 2% discount from market price and with no commissions. This provides shareholders with an easy way to realize the benefits of compound growth of their investment in Atrium. Shareholders can enroll in the DRIP program by contacting their investment advisor.

About Atrium

Canada’s Premier Non-Bank Lender™

Atrium is a non-bank provider of residential and commercial mortgages that lends in major urban centres in Canada where the stability and liquidity of real estate are high. Atrium’s objectives are to provide its shareholders with stable and secure dividends and preserve shareholders’ equity by lending within conservative risk parameters.

Atrium is a Mortgage Investment Corporation (MIC) as defined in the Canada Income Tax Act, so is not taxed on income provided that its taxable income is paid to its shareholders in the form of dividends within 90 days after December 31 each year. Such dividends are generally treated by shareholders as interest income, so that each shareholder is in the same position as if the mortgage investments made by the company had been made directly by the shareholder. For further information, please refer to regulatory filings available at www.sedar.com or Atrium’s website at www.atriummic.com.

For further information, please contact

Robert G. Goodall
President and Chief Executive Officer

Jennifer Scoffield
Chief Financial Officer

(416) 867-1053
info@atriummic.com
www.atriummic.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45243

NervGen Pharma Engages Torrey Hills Capital for Investor Relations

Vancouver, British Columbia–(Newsfile Corp. – June 3, 2019) – NervGen Pharma Corp. (TSXV: NGEN) (OTCQB: NGENF) (“NervGen” or the “Company”), a regenerative medicine company dedicated to creating innovative solutions for the treatment of nerve damage, including spinal cord and peripheral nerve injury, today announced that it has engaged San Diego based Torrey Hills Capital, Inc. (“Torrey Hills Capital”) to provide market awareness and investor relations services to the Company.

Torrey Hills Capital is a leading investor and financial public relations firm specializing in small and microcap companies. Torrey Hills Capital will increase awareness of NervGen through its established relationships with investment professionals, investment advisors, and money managers focused on the microcap market space. This will allow the Company to build on its recent listing on the OTCQB and maintain an informed investor audience in both the U.S. and Canadian marketplaces.

Torrey Hills Capital has been engaged at a rate of US$5,000 per month for an initial term of six months. The agreement will be automatically extended after the initial term, subject to a 30-day termination notice by either party. NervGen has also agreed to grant 100,000 incentive stock options exercisable at a price of $1.54 per share for a period of three years and will vest in accordance with the policies of the TSX Venture Exchange. Torrey Hills Capital currently has no direct or indirect interest in the securities of NervGen, or any right or intent to acquire such an interest except pursuant to the exercise of the above referenced options. The appointment of Torrey Hills Capital as an investor relations consultant to NervGen and the granting of the options are subject to regulatory acceptance of applicable filings with the TSX Venture Exchange.

The Company also announces that on June 1, 2019, it granted an aggregate of 200,000 incentive stock options to certain officers of the Company in accordance with the Company’s stock option plan. Each option is exercisable at a price of $1.54 into one common share in the capital of the Company for a period of up to five years from the date of grant.

About Torrey Hills Capital

Torrey Hills Capital was formed in 1998 and is headquartered in Rancho Santa Fe, California. The team of professionals offers experience and expertise in investor relations, corporate communications, non-deal road shows, and market support activities. Torrey Hills Capital specializes in the development and marketing of emerging growth companies which trade in the United States (NYSE, NYSE American, and OTC) and in Canada (TSX, TSX-V, and CSE). Marketing activities articulate key investment attributes, strategic direction, and financial expectations, which combine to ensure that client market value fully reflects past achievements and future opportunities. Further information is available at www.torreyhillscapital.com.

About NervGen

NervGen is restoring life’s potential by creating innovative solutions for the treatment of nerve damage, including spinal cord injuries and peripheral nerve injuries. The Company also continues to research secondary applications such as multiple sclerosis, stroke, acute myocardial infarction induced arrhythmia (“AMI”, commonly known as a heart attack) and other neurodegenerative diseases.

NervGen plans to initiate a Phase 1 human clinical trial for its lead compound, NVG-291, in early 2020 under an Investigational New Drug application with the US Food and Drug Administration. NervGen is advancing NVG-291 for the treatment of spinal cord injury as the Company believes this indication is a significant opportunity due to the current lack of non-surgical solutions in the market, the dramatic impact on quality of life and the high cost burden to the healthcare system. The Company believes NVG-291 as a therapy could alleviate or improve upon the symptoms and conditions associated with spinal cord injury and empower these patients to live more active and productive lives.

For further information, please contact: 

Bill Radvak, Executive Chairman
bradvak@nervgen.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.

Cautionary Note Regarding Forward-Looking Statements

This news release may contain “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian and United States securities legislation. Such forward-looking statements and information herein include, but are not limited to, the Company’s current and future plans, expectations and intentions, results, levels of activity, performance, goals or achievements, or any other future events or developments constitute forward-looking statements, including, without limitation, statements regarding advancement of NVG-291 toward clinical development and commercialization, the timing of human trials and regulatory approval, the potential efficacy of the Company’s products and technology, and the potential to identify, evaluate and develop other drug candidates. The words “may”, “will”, “would”, “should”, “could”, “expect”, “plan”, “intend”, “trend”, “indication”, “anticipate”, “believe”, “estimate”, “predict”, “likely” or “potential”, or the negative or other variations of these words or other comparable words or phrases, are intended to identify forward-looking statements.

Forward-looking statements are based on estimates and assumptions made by the Company in light of management’s experience and perception of historical trends, current conditions and expected future developments, as well as other factors that the Company believes are appropriate and reasonable in the circumstances. Many factors could cause the Company’s actual results, level of activity, performance or achievements or future events or developments to differ materially from those expressed or implied by the forward-looking statements, including without limitation, a lack of revenue, insufficient funding, reliance upon key personnel, the uncertainty of the clinical development process, competition, and other factors set forth in the “Risk Factors” section of the Company’s Prospectus, financial statements and Management Discussion and Analysis which can be found on SEDAR.com.

Readers should not place undue reliance on forward-looking statements made in this document. Furthermore, unless otherwise stated, the forward-looking statements contained in this document are made as of the date of this document, and the Company has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.

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Pine Cliff Energy Ltd. Announces Closing of Strategic Acquisition, CDE Flow-Through and Common Share Equity Financings

Calgary, Alberta–(Newsfile Corp. – June 3, 2019) – Pine Cliff Energy Ltd. (TSX: PNE) (“Pine Cliff” or the “Company“) is pleased to announce that its previously announced acquisition to acquire oil and natural gas assets (the “Assets“) in the Ghost Pine area of Central Alberta for net cash consideration of $8.6 million, after estimated closing adjustments (the “Acquisition“), has now closed. Pine Cliff is also pleased to announce that is has closed both private placements of flow through shares for gross proceeds of $4.0 million (the “Flow-Through Private Placement“) and common shares for gross proceeds of $1.4 million (the “Common Share Private Placement“).

Acquisition Highlights

The Assets add growth opportunities in the Pekisko oil play, where Pine Cliff drilled its first oil well in late 2018. Based on Pine Cliff’s internal estimates, the Assets will increase Pine Cliff’s development inventory to an estimated 28 gross (27 net) Pekisko oil locations. The Assets currently produce approximately 1,600 barrels of oil equivalent (“Boe“) per day or 9,600 thousand cubic feet equivalent (“Mcfe“) per day, weighted 80% to natural gas, 7% to oil and 13% to natural gas liquids. The production from the Assets has increased Pine Cliff’s estimated annual production volumes to a range of 19,250 to 19,750 Boe per day (115,500 to 118,500 Mcfe per day), weighted 92% to natural gas.

CDE Flow-Through and Common Share Equity Financings

Pine Cliff issued by way of a non-brokered private placement, 14,492,754 “flow-through” common shares (within the meaning of the Income Tax Act (Canada)) (the “Flow-Through Shares“), at a price of $0.276 per Flow-Through Share, resulting in gross proceeds of $4.0 million. The net proceeds of the Flow-Through Private Placement will be used to incur eligible Canadian development expenses (“CDE“). Pine Cliff will, pursuant to the provisions of the Income Tax Act (Canada), incur all eligible CDE prior to March 30, 2020 of the Flow-Through Private Placement.

Pine Cliff also issued by way of a non-brokered private placement, 6,215,652 common shares (the “Common Shares“), at a price of $0.23 per Common Share, resulting in gross proceeds of $1.4 million. Insiders, including directors and officers, subscribed for a total of 2,608,695 Common Shares.

As a part of the Offered Securities, the Alberta Investment Management Corporation has increased its shareholdings in the Company by 15,142,754 Common Shares on behalf of certain of its clients.

Pine Cliff’s outstanding Common Shares as of May 31, 2019 total 327,784,193.

About Pine Cliff

Pine Cliff is an oil and natural gas company with a long-term view of creating shareholder value. Further information relating to Pine Cliff may be found on www.sedar.com as well as on Pine Cliff’s website at www.pinecliffenergy.com.

About Alberta Investment Management Corporation

Alberta Investment Management Corporation, AIMCo, is one of Canada s largest and most diversified high performing institutional investment managers with more than $100 billion of assets under management. AIMCo operates at arms-length from the Government of Alberta and invests globally on behalf of 31 Alberta-based pension, endowment and government funds, working closely with their clients’ to ensure investment strategies meet their clients’ long-term return objectives. For more information on AIMCo please visit www.aimco.alberta.ca.

For further information, please contact:
Philip B. Hodge – President and CEO 
Cheryne Lowe -CFO and Corporate Secretary
Telephone: (403) 269-2289
Fax: (403) 265-7488
Email: info@pinecliffenergy.com

Cautionary Statements

Certain statements contained in this news release potentially include statements which contain words such as “anticipate”, “could”, “should”, “expect”, “seek”, “may”, “intend”, “likely”, “will”, “believe” and similar expressions, statements relating to matters that are not historical facts, and such statements of our beliefs, intentions and expectations about development, results and events which will or may occur in the future, constitute “forward-looking information” within the meaning of applicable Canadian securities legislation and are based on certain assumptions and analysis made by us derived from our experience and perceptions. In particular, this news release contains statements regarding the operational, economic, closing adjustments, production volumes guidance and financial impacts of the Acquisition on Pine Cliff and the potential growth opportunities on the Assets.

Actual results, performance or achievements could differ materially from those expressed in, or implied by, this forward-looking information and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking information will transpire or occur, or if any of them do, what benefits will be derived there from. Except as required by law, Pine Cliff disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

Natural gas liquids and oil volumes are recorded in barrels of oil (“Bbl“) and are converted to a thousand cubic feet equivalent (“Mcfe“) using a ratio of one (1) Bbl to six (6) thousand cubic feet. Natural gas volumes recorded in thousand cubic feet (“Mcf“) are converted to barrels of oil equivalent (“Boe“) using the ratio of six (6) thousand cubic feet to one (1) Bbl. This conversion ratio is based on energy equivalence primarily at the burner tip and does not represent a value equivalency at the wellhead. The terms Boe or Mcfe may be misleading, particularly if used in isolation.

Given that the value ratio based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalency of oil, utilizing a conversion on a 6:1 basis may be misleading as an indication of value.

The TSX does not accept responsibility for the accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45235

Cardiol Therapeutics’ Pharmaceutical Partner Noramco Presents at U.S. FDA Public Hearing on CBD

Addresses Need for Improved Standards and Regulations

Oakville, Ontario–(Newsfile Corp. – June 3, 2019) – Cardiol Therapeutics Inc. (TSX: CRDL) (OTCQX: CRTPF) (“Cardiol” or the “Company“), a leader in the research and commercial development of pharmaceutical cannabidiol (CBD) and targeted therapies for inflammatory diseases, announces that Noramco, Inc. (Noramco) of Wilmington, Delaware, Cardiol’s pharmaceutical partner and manufacturer of its pure pharmaceutical CBD, was selected to present at the Food and Drug Administration’s (FDA) Scientific Data and Information about Products Containing Cannabis or Cannabis-Derived Compounds, Part 15 Public Hearing, that took place on Friday, May 31, 2019, in Silver Spring, Maryland.

The goal of the hearing was to obtain additional scientific data and other information related to cannabis and cannabis-derived compounds to inform the FDA about these products. The FDA invited important stakeholders, including patients, researchers, manufacturers, retailers, and public health and government bodies, all of whom contributed data and experience.

Noramco has more than 40 years’ experience and expertise in the manufacture and supply of controlled drug substance active pharmaceutical ingredients (APIs), including cannabinoids. Their APIs are sold in over 30 countries and they have 24 active US Drug Master Files (DMF), including a DMF for pharmaceutical CBD. Noramco is fully cGMP-compliant (FDA inspected and regulated) and has demonstrated a total capacity of >750,000 kg annually in state-of-the-art facilities.

Key messages and recommendations presented at the Hearing by Bill Grubb, Chief Innovation Officer and Executive VP of Business Development of Noramco, included the following:

There is a Need for Federal Oversight of Manufacturing and Testing of CBD Products

  • Noramco’s own analysis using certified analytical reference standards and scientifically-sound analytical methods confirmed impurities of up to 4.39% in several available botanical CBD products – over 1,000 times higher than Noramco’s pure pharmaceutical CBD. 
  • Numerous other examples of mislabeled and impure CBD products in the marketplace have been cited, including a Journal of the American Medical Association (JAMA) study finding 69% of 84 cannabidiol botanical extract products were mislabeled, triggering the FDA to send warning letters to 14 businesses. The average amount of THC in the products was greater than 4000 parts per million (PPM), enough to produce intoxication or impairment.

cGMP Production is Essential to Provide Safe CBD

  • Noramco follows formal FDA-administered cGMP procedures to ensure the highest level of quality, purity, consistency, and 
  • Noramco has established multi-ton cGMP production capability for pure pharmaceutical CBD in excess of 180,000 Kg per annum. 
  • Noramco utilizes organic chemical synthesis to produce CBD. This process eliminates the risk of contamination by pesticide residues or heavy metals from soil and therefore there are no environmental influences on quality.

Tight Control Limits for Impurities and Assess Stability of Active Ingredients in all CBD Products

  • The FDA should adopt International Council for Harmonisation (ICH) guidelines for producers of CBD, from any source, for control of impurities, setting specifications, and for monitoring product stability.
  • Product stability and label accuracy over time can only be assured if CBD is produced and monitored according to long-established regulations, and all commercially available CBD products should have expiry dates.

Limit THC Impurity Levels to 1000 PPM in CBD medicines

CBD producers should control THC to ≤ 1000 PPM. Noramco’s pharmaceutical CBD has THC levels orders of magnitude lower, measuring less than <10 PPM; meeting Health Canada’s strict standards for products that do not require a warning label concerning THC content.

“Noramco’s commitment to making the purest, safest, and most consistent CBD in the world, at multi-ton scale, underscores Cardiol’s rationale for selecting their world-class pharmaceutical production capabilities for our proprietary CardiolRx pure pharmaceutical CBD formulations,” said David Elsley, President & CEO of Cardiol Therapeutics. “In collaboration with Noramco and Dalton Pharma, our exclusive global drug formulation partner, Cardiol is now positioned to commercialize pure pharmaceutical CBD products designed to set the highest industry standards for product purity, safety, and consistency for consumers, patients and healthcare providers around the world.”

“Noramco is pleased to be partnering with Cardiol Therapeutics to provide consumers access to the purest and safest CBD. Noramco’s pharmaceutical CBD is produced in accordance with cGMP and is tested to assure identity, purity, quality, and strength. Noramco has clearly demonstrated that multi-ton cGMP-compliant production of CBD is now viable,” stated Mr. Grubb of Noramco.

About Noramco, Inc.

Founded in 1979 and headquartered in Delaware, USA, Noramco maintains operations around the world, including Schaffhausen, Switzerland, and is a global leader in the manufacture and supply of controlled drug substance Active Pharmaceutical Ingredients (APIs), including select cannabinoids. With the acquisition of Tasmanian Alkaloids, the addition of the Athens, Georgia site in 1982, and continuous expansions over the past three decades at both US facilities, Noramco now contributes to billion-dollar affiliate franchises, as well as to significant third-party generic and branded pharmaceutical products worldwide.

About Cardiol Therapeutics

Cardiol Therapeutics Inc. is a leader in the research and commercial development of pharmaceutical CBD products and targeted therapies for inflammatory disease. The Company is leveraging its expertise in pharmaceutical CBD to develop pure CBD products for commercialization in the global multi-billion-dollar market for medicinal cannabinoids. The Company is also developing nanoformulations of CBD and other anti-inflammatory drugs for the treatment of heart failure. Heart failure is a leading cause of death and hospitalization, with associated healthcare costs exceeding $30 billion annually in the U.S. alone. For further information about Cardiol, please visit the Company’s website at www.cardiolrx.com.

For further information, please contact:

David Elsley, President & CEO
905.491.6793
david.elsley@cardiolrx.com

Trevor Burns, Investor Relations
905.491.6791
trevor.burns@cardiolrx.com

Cautionary statement regarding forward-looking information:

This news release contains “forward-looking information” within the meaning of applicable Canadian securities laws which may include, but is not limited to, statements with respect to: future events; the future performance or the intended business strategy of Cardiol Therapeutics Inc. (“Cardiol”); the potential for Cardiol’s licensed drug encapsulation and delivery technologies to enhance the bioavailability of pharmaceuticals; management’s expectations regarding estimated future pharmaceutical research and development opportunities, collaborations and prospects; the success and proposed timing of Cardiol’s product development activities, including, but not limited to, the proposed timeline of Cardiol’s product candidate pipeline for commercial introduction; the ability of Cardiol to develop its product candidates; Cardiol’s plans to research, discover, evaluate and develop additional products; Cardiol’s proposed future collaborations to advance Cardiol’s lead nanoformulations into clinical development; and the potential for Cardiol’s cannabinoid-based products to provide sources of future revenue. All statements, other than statements of historical fact, that address activities, events or developments that Cardiol believes, expects or anticipates will, may, could or might occur in the future are “forward-looking information”.

Forward-looking information is frequently identified by the use of words such as “plans”, “expects”, “projects”, “intends”, “believes”, “anticipates”, “forecasts”, and other similar words and phrases, including variations (and negative variations) of such words and phrases, or may be identified by statements to the effect that certain actions, events or conditions “may”, “could”, “should”, “would”, or “will” be taken, occur or be achieved. Forward-looking information contained herein reflects the current expectations or beliefs of Cardiol based on information currently available to it and is subject to a variety of known and unknown risks and uncertainties and other factors that could cause the actual events or results to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. These risks and uncertainties and other factors include that the success of Cardiol’s product candidates will require significant capital resources and years of clinical development efforts; the results of clinical testing and trial activities of Cardiol’s products; Cardiol’s ability to obtain regulatory approval and market acceptance of its products; Cardiol’s ability to raise capital and the availability of future financing; Cardiol’s lack of operating history; unforeseeable deficiencies in the development of Cardiol’s product candidates; uncertainties relating to the availability and costs of financing needed in the future for Cardiol’s research and development initiatives; Cardiol’s ability to manage its research, development, growth and operating expenses; the potential failure of clinical trials to demonstrate acceptable levels of safety and efficacy of Cardiol’s product candidates; Cardiol’s ability to retain key management and other personnel; risks related to fluctuations in medicinal cannabinoid markets in Canada and worldwide; uncertainties regarding Cardiol’s ongoing collaborative and manufacturing partnerships; uncertainties regarding results of researching and developing products for human use; Cardiol competes in a highly competitive and evolving industry; Cardiol’s ability to obtain and maintain current and future intellectual property protection; and other risks and uncertainties and factors. These risks, uncertainties and other factors should be considered carefully, and investors should not place undue reliance on the forward-looking information. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Cardiol disclaims any intent or obligation to update or revise such forward-looking information, whether as a result of new information, future events or results or otherwise. Although Cardiol believes that the expectations reflected in these forward-looking statements are reasonable, they do involve certain assumptions, risks, and uncertainties and are not (and should not be considered to be) guarantees of future performance. It is important that each person reviewing this news release understands the significant risks attendant to the operations of Cardiol.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45233