Today, we feature some exciting business developments from Lava Blue as it looks to become a mainstream producer of High Purity Alumina.
Also, Genex Power (ASX: GNX) succsessfully completes a A$21.2M placement and launches a A$7M Share Purchase Plan to fast-track its projects.
Finally In news, Animoca Brands announced they will launch on The Sandbox a US$3 million sale of SAND tokens on Binance Launchpad and in other news Animoca Brands expands its partnership with Atari.
CAPITAL RAISINGS UPDATE
Lava Blue - Business updates:
Lava Blue is proceeding to complete the mini-plant at the Redlands Energy Science Park. Commissioning the mini-plant will significantly revalue the Company. Lava Blue will be the only enterprise in the world running a mini-plant that can demonstrate repeated production of HPA from kaolin.
Additional Grant Funding from IM CRC for Mini-Plant project
Since winning a $645,000 grant in September 2019, Lava Blue and research partners at QUT have been able to maintain progress across a number of fronts, including demonstrating early outcomes of machine learning in manufacturing of HPA. This substantial progress, along with the relocation of the mini-plant facility from the original small site at Banyo to the Redlands Energy Science Park, has resulted in the IM CRC increasing the total grant to $1,045,000.
Progress on Licencees
Lava Blue is pursuing a two-pronged commercialisation strategy. While planning to be a primary producer of at least 5,000 tonnes of HPA per annum, it is also seeking to develop a network of licencees for the HPA process.
Lava Blue Acquires Cloncurry Industrial Minerals
Lava Blue has held an option over the acquisition of Cloncurry Industrial Minerals Pty Ltd (CIM), which holds exploration permits over the HJ Reef. In May of 2020 the option was exercised, and Lava Blue purchased all of the outstanding capital of CIM by exchange of shares.
Lava Blue are an Australian company raising A$2.5m, for more information please Click Here.
Genex (ASX: GNX) succsessfully completes placement
and launches Share Purchases Plan to fast-track its projects.
- Successful placement raising a total of $21.276M.
- Share Purchase Plan announced to raise up to an additional $7M.
The funds from the Placement and SPP will predominantly be used for:
- Development costs associated with fast tracking the Company’s Como Battery Project (Project Como).
- Financial close costs (legal and advisory fees) for the Kidston Hydro Project (K2-Hydro).
- Working capital and capital raising costs.
To View ASX announcement Click Here.
PRIVATE TRADING HUB NEWS
“The Sandbox” Partners with Binance Launchpad to Sell SAND Utility Tokens
Animoca Brands has advised that The Sandbox will launch a US$3 million sale of SAND tokens on Binance Launchpad, Binance’s exclusive token launch platform for transformative blockchain projects. SAND is the main utility token for The Sandbox, the blockchain-based, community-driven gaming and game creation platform that will allow content creators to monetize gaming assets and experiences.
The highly anticipated SAND sale will start on Binance Launchpad on 13 August 2020, at launchpad.binance.com 360 million SAND tokens (being 12% of the total supply of SAND) will be made available for purchase at a price of US$0.0083 per token.
To read the full article Click Here.
Animoca Brands expands partnership with Atari® to include classic games Asteroids®, Centipede®, Missile Command® and Pong®
- Atari and Animoca Brands expand existing partnership and licensing arrangement
- Animoca Brands gains global development and distribution rights, including for blockchain and NFTs, for an additional 15 iconic Atari Games, including classic blockbusters Pong, Asteroids, Centipede, and others
- A further 13 titles to be included contingent on revenue milestones
- Animoca Brands becomes preferred supplier of blockchain content and technology on the Atari VCS game console
- Non-exclusive distribution agreement for the Atari VCS in Asia
- Animoca Brands will launch the Games on its casual gaming platform Gamee, and offer digital collector assets from the Games on its digital collectibles platform Quidd
To read the full article Click Here.
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