Small Cap Feast

17th February 2023

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What’s Cooking In The IPO Kitchen?

PanGenomic Health Inc, currently traded on the Canadian Securities Exchange market. intends to dual list on the AQSE Growth Market, as a springboard to expand footprint of its personalized and self-care digital health platforms in the UK/EU markets. The Company has three platforms: Nara App, and the PlantGx Platform. PanGenomic Health Inc is currently traded on the CSE . A total of 99,128,169 Class A common shares, or 88.6% of the total issued shares, will be floated. Admission is expected 21 February..

According to media reports, World Chess plc, a leading chess organisation seeking to promote the mass market appeal of chess globally through the commercial offering of chess related activities, intends to join the Main Market in mid February..

Breakfast Buffet

Atlantic Lithium 38.125p £230.9m (ALL.L)
The funded African-focussed lithium exploration and development company targeting to deliver Ghana's first lithium mine, notes the announcement made by the Minerals Income Investment Fund of Ghana (MIIF), dated 16 February 2023, regarding its expression of interest to invest up to US$30m in the Company. The Ewoyaa Project in Ghana, is a significant lithium spodumene pegmatite discovery on track to become Ghana's first lithium-producing mine. The Company signed a funding agreement with Piedmont Lithium Inc. for US$103m towards the development of the Ewoyaa Project. The Company confirms that discussions are ongoing.

Benchmark Holdings 37.45p £276.8m (BMK.L)
The aquaculture biotechnology company, announces that it has acquired the remaining 10.52% minority interest in its subsidiary Benchmark Genetics Iceland. Enhanced by the recent construction of a new incubation centre, Benchmark Genetics is core to the Company's ability to supply highly specialist, biosecure salmon eggs to salmon producers to c.35 countries around the world, year-round. Benchmark Genetics Iceland represents 50% of the Group's salmon egg capacity. The acquisition is a natural step in delivering shareholder value through full ownership of the genetics business.

EDX Medical Group 3.75p £9.4m (AQSE: EDX)
The Group that develops innovative digital diagnostic products and services for cancer, heart disease, neurology and infectious disease testing, announces that it has acquired the entire issued share capital of Torax Biosciences Ltd. (Torax), at a price of £0.06 per share. Torax is a research company providing product development and pilot scale fabrication of immunochemistry-based assays and diagnostic testing solutions. The acquisition will provide a point-of-care diagnostics technical team, innovation and new product development. Torax will also provide additional laboratory capacity in Northern Ireland in support of EDX Medical’s established laboratories in Cambridge.

EnSilica 102p £76.7m (ENSI.L)
A mixed signal chipmaker, announces half year results for the six months ended 30 November 2022 (H1 FY23). The Group generated £8.6m (H1 FY22: £7.0m) in revenue, an increase of 23.5%, and £0.66m in adjusted EBITDA (H1 FY22: loss of £0.1m). The Group delivered across several sectors including a US$30m contract for a major European industrial OEM. Design contracts totalled US$3.6m in December 2022, and an additional US$2.9m henceforth. The Group recently secured EUR5m contract with UKSA which brings the Group’s post period end bookings to c.US$10m.

Jadestone Energy 86.5p £386.1m (JSE.L)
An independent oil and gas production company focused on the Asia-Pacific region, announces that it has closed a US$50m debt facility (Interim Facility) with two international banks. The closing of the Interim Facility forms part of the previously announced plan to arrange a reserves-based lending facility (RBL), which is a key element of Jadestone's medium-term financing strategy to fund development capital at the Akatara project and further growth through M&A.

Oncimmune Holdings 55.2p £40.9m (ONC.L)
The global immunodiagnostics group, announces a collaboration with Siemens Healthineers aimed at improving malignancy risk assessment of Indeterminate Pulmonary Nodules (IPNs). The collaboration combines Oncimmune's EarlyCDT Lung blood test with Siemens Healthineers' AI-Rad Companion Chest CT, an AI-powered radiology assistant that performs automatic post-processing, quantifying and interpreting data. It is anticipated that malignancy risk assessment of IPNs can be improved. The collaboration will access data from the Early Detection of Cancer of the Lung Scotland (ECLS) trial, a randomised study into the utility of EarlyCDT Lung in asymptomatic screening.

RentGuarantor Holdings 185p £21.4m (AQSE: RGG)
A provider of rent guarantee services to prospective tenants wishing to rent property in the UK private rental sector, announces that it has entered into a three year agreement with X1 Property management Limited (X1 Lettings), a residential and student letting company. X1 Lettings will be promoting RentGuarantor with bespoke marketing materials to all residential tenants including students, with the intention of generating secure tenants for X1 Lettings' landlords. X1 Lettings currently is the appointed management agency for approximately 4000 properties across the UK.

SolGold 13.38p £331.0m (SOLG.L)
A leading resources company focused on the discovery, definition and development of world-class copper and gold deposits announces a Company update. Closing of the Cornerstone Capital Resources Inc merger transaction remains subject to the publication of a prospectus by SolGold to facilitate admission to trading on the Main Market of the LSE. The Company expects the transaction to close during week commencing 27th Feb. The Company has recently raised US$86m in gross proceeds through the US$50m royalty investment by Osisko Gold Royalties Ltd and US$36m investment, which included Jiangxi Copper (Hong Kong) Investment Company Limited.

Tasty 3.25p £4.8m (TAST.L)
The owner and operator of restaurants in the casual dining sector, announces that Mayuri Vachhani will step down as Chief Finance Officer and leave the Company on 31 March 2023. Ian Davies has been appointed as her replacement with effect from 20 February 2023. Ian is a Chartered Accountant and has over 18 years of experience within the hospitality industry, most recently as Chief Financial Officer for the international private membership club business hClub.

Trellus Health 7.75p £12.5m (TRLS.L)
The Group commercialising a scientifically validated, personalised self-management solution for chronic health conditions at their intersection with mental health, announces the launch of Direct-to-Consumer offering for people living with Irritable Bowel Syndrome (IBS). The Company also announces the expansion of one of its existing agreements with the Mount Sinai Health System being made available to a large New York State labour union to make the Trellus method available to people living with IBS. The Company believes its methods have utility across a number of other chronic conditions.

17 February 2023
*A corporate client of Hybridan LLP or retained by Hybridan LLP for certain services
** Arranged by most recent first
*** Alphabetically arranged
**** Potential means Intention to Float (ITF) has been announced, or it is a rumour


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