Small Cap Feast

4th April 2024

Dish of the day
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Dish Of The Day:



Whats baking in the oven?

Potential Initial Public Offerings:

21 March 2024: Helix Exploration —The Company pursuing the exploration, commercial development and monetisation of a non-hydrocarbon associated helium rich gas structure in the Ingomar Dome located in central Montana, USA announces its intention to list its shares on AIM. Total capital to be raised on Admission of up to £7.5m. Expected Admission date of early April 2024.

18 March 2024: European Green Transition is developing a portfolio of green economy assets in Europe which aims to capitalise on the opportunity created by the green energy transition announces its proposed Admission to trading on AIM and its successful placing and subscription at a price of 10p per Share with institutional and other investors. The Company has raised approx. £6.45m. Admission is proposed for 8 April.

Reverse Takeovers:

Change of Market:

Banquet Buffet

Amaroq Minerals 76.7p £258.1m (AMRQ.L)
An independent mine development company with a land package of gold and strategic mineral assets in Southern Greenland, announces that the successful first underground mining blast at Nalunaq was initiated on Saturday, March 30, 2024 at the 720m level. The first underground blast, undertaken within trial mining activities, represents a key step towards full commissioning of the Nalunaq mine and unlocking the mine’s potential to fund exploration and drive growth across the Company’s portfolio in South Greenland.

Eco Animal Health Group 85p £57.6m (EAH.L)
A global animal health company with a portfolio of marketed veterinary products and a maturing proprietary R&D pipeline, announces the disposal of ECOmectin® Horsepaste to ACME Drugs S.r.l in Italy (ACME), its long-term manufacturing partner, for a total consideration of EUR1.3m. EUR500k was paid on signature of the sale and purchase agreement and two further payments of EUR400k each on the date which is 18 months after completion and 36 months after completion. The revenue derived from this business in the year ending 31 March 2024 was £814k (2023 £988k).

Gelion 19p £25.8m (GELN.L)
The Anglo-Australian battery Company, announces an update on its Next Generation Lithium-Sulfur (Li-S) battery development. Gelion has achieved a high energy density milestone by fabricating a 395 Wh/kg lithium-sulfur 9.5 Ah pouch cell. This result represents a c.60% increase in the energy density (lower weight) compared with current lithium-ion batteries (approximately 250 Wh/kg). Gelion's ambition for its next generation platform is to unlock the potential of sulfur batteries for a wide range of global applications.

GetBusy 64p £32.4m (GETB.L)
A provider of productivity software for professional and financial services, announces the acquisition of SmartPath LLC, the pricing intelligence and revenue optimisation platform for the accounting industry. The consideration comprises an initial cash payment of US$250k and a further cash amount will be payable in 2027 subject to the level of Annual Recurring Revenue attributable to the SmartPath product at 31 December 2026 and provided Attributable ARR is $1m or higher. The acquisition includes all intellectual property and customer contracts.

Kore Potash 0.475p £19.6m (KP2.L)
The potash development company with 97% ownership of the Kola and DX Potash Projects in the Sintoukola Basin, located in the Republic of Congo, announces the appointment of Mr J. M. André (André) Baya as Chief Executive Officer effective from 15 April 2024. André has over 20 years of experience in the global mining and agriculture sectors and brings significant African experience including having held senior positions for groups with operations in the Republic of Congo.

Lords Trading Group 48p £79.7m (LORD.L)
A distributor of building materials in the UK, is pleased to announce that following a comprehensive formal search process, Stuart Kilpatrick has been appointed to succeed Chris Day as CFO. Stuart will join the Board of Lords as CFO in early July 2024. Stuart is a highly experienced CFO having led finance functions across a range of publicly listed companies.

LungLife AI 29p £8.9m (LLAI.L)
A developer of clinical diagnostic solutions for lung cancer, announces its audited preliminary results for the year ended 31 December 2023. Loss before tax of $5.41m (2022: $7.60m). Adjusted EBITDA loss of $5.19m (2022: $6.84m), and the Company held Cash as of 31 December 2023 of $2.83m (2022: $8.01m). In March 2024, the Company raised gross proceeds of $2.28m (GBP1.81m) from the issue of shares at 35 pence. The Company’s revised cash runway to April 2025 has required significant cost reductions, the largest being to headcount and salaries for the executive team.

Ondine Biomedical 8.875p £20.1m (OBI.L)
The Canadian life sciences company pioneering light-activated antimicrobial treatments, confirms that interest from hospitals in Canada has accelerated its opportunity to address the Intensive Care Unit (ICU) market. Treatment of patients in ICUs would expand Ondine's potential market opportunity and revenue potential. Daily nasal decolonisation with Ondine's new light-activated antimicrobial treatment, Steriwave®, which does not generate antimicrobial resistance (AMR), could help prevent these life-threatening infections.

Plant Health Care 3.83p £13.1m (PHC.L)
A provider of peptides used by growers to improve crop production and quality within global agriculture markets, announces COFEPRIS registration and pending commercial launch of the biological nematode control product PHC68949 in Mexico. PHC68949 is a novel product that amplifies a plant's natural defense pathways to provide protection within the rhizosphere to protect plant roots from parasitic nematodes, promoting crop yield and harvest quality. The Company plans a limited launch of PHC68949 in the second half of 2024, followed by a full commercial launch in 2025.

React Group 68p £14.2m (REAT.L)
The cleaning, hygiene, and decontamination company, announces that it has been awarded three material contracts totalling over £1.3m annually. All three contracts have been or are being mobilised during the month of April 2024. The contracts include the renewal and expansion of a Facilities Management (FM) soft services agreement with an NHS trust, a further two years with the UK operation of one of the world's largest FM companies and a new agreement to provide a single point of service delivery for emergency decontamination services.

4 April 2024
*A corporate client of Hybridan LLP or retained by Hybridan LLP for certain services
** Arranged by most recent first
*** Alphabetically arranged


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