The world of investing revolves around identifying catalysts that can spark price movements. News is a pivotal driver in this equation, often serving as the propellant behind significant stock price surges.
Now, let's zero in on four stocks exhibiting noteworthy developments.
On September 18, 2023, American Battery Materials, Inc. (OTC:BLTH) made a significant announcement reaffirming its commitment to a $120 million merger with Seaport Global Acquisition II Corp. Despite Seaport Global receiving a delisting warning letter from NASDAQ, ABM remains determined to proceed with the merger. David Graber, ABM's Chairman and Chief Executive Officer, emphasized that the redemptions associated with a SPAC are expected during an extended acquisition timeline, reducing the shareholder base and stockholder equity.
Seaport Global has committed to addressing the NASDAQ letter and ensuring compliance with listing standards. Both companies believe that their joint efforts to consummate the merger will meet NASDAQ's requirements upon completion, underscoring their dedication to the merger for the benefit of shareholders.
This announcement follows the signing of a definitive merger agreement on June 2, 2023, between ABM and Seaport Global Acquisition II Corp., marking ABM's transition into a wholly-owned subsidiary of SGII. The combined entity is poised to be renamed American Battery Materials Holdings, with plans to list its common stock and warrants on the Nasdaq Global Market.
American Battery Materials Inc. focuses on environmentally responsible critical mineral exploration and development, particularly Direct Lithium Extraction (DLE), to support the urgent demand for critical minerals in the United States and contribute to the nation's long-term energy transition and global electrification.
As investors seek catalysts that may impact price movements, news like this merger update can play a pivotal role. This reaffirmation of commitment sets the stage for potential developments in BLTH's stock price and future endeavors. Stay tuned for further updates as the merger progresses.
Enzolytics, Inc. (OTC:ENZC), a leading player in the field of drug development with a focus on proprietary proteins and monoclonal antibodies for combating infectious diseases, made a major announcement on September 18, 2023. In the update, ENZC revealed the execution of a binding business combination agreement for the sale of its operational subsidiaries, Biogenysis, Inc. ("BGEN") and Virogentics, Inc. ("VIRO"), to Sagaliam Acquisition Corp. (NASDAQ: SAGA) in a landmark transaction valued at $450,000,000.
This strategic move positions the newly combined entity for future trading on the NASDAQ, indicating substantial growth potential. The de-SPAC process has commenced, marking a pivotal step toward the successful completion of this transformative project.
"This combination will make possible the final development of the numerous therapeutics now being produced," stated Charles Cotropia, CEO of ENZC.
"The SAGA transaction opens numerous opportunities to advance our existing technology, developing new technology and expansion of our growing nutraceutical product line at what we believe will be a significantly faster pace," said Harry Zhabilov, CSO of VIRO.
"Collaborating with pharmaceutical companies, our focus is to cover all viruses in our repository, providing patients with necessary diagnostics and therapies," stated Dr. Gaurav Chandra, CEO of BGEN.
Barry Kostiner, CEO of Sagaliam, expressed the significance of being listed on Nasdaq, which enhances visibility and access to a broader pool of investors. "We are working with the investor community, as well as the dedicated VIRO and BGEN management teams, to secure the financial resources required to expedite clinical trials," Kostiner added.
This monumental announcement underscores ENZC's commitment to making a significant impact in the healthcare industry and advancing groundbreaking solutions for infectious diseases. As developments unfold, this strategic move may have a profound impact on ENZC's growth trajectory and stock performance, making it a company to watch closely. Stay tuned for further updates on this transformative endeavor.
Visium Technologies, Inc. (OTC:VISM) is a cybersecurity solutions provider known for its innovative TruContextTM technology, which leverages graph database technology to deliver an analytics-driven, risk-based approach to cybersecurity. This technology provides context to data, enabling real-time intelligent decision-making. Initially developed for the US Army Cyber Command by MITRE Corporation (CyGraph) and further enhanced by Visium, TruContextTM is designed to fill gaps left by other security tools.
On September 18, 2023, Visium Technologies, Inc. announced a significant development. The company received a Letter of Intent (LOI) from Cybastion Institute of Technology, a prominent cybersecurity business specializing in advanced technology and solutions, particularly in emerging markets. This collaboration is centered around groundbreaking projects in Côte d'Ivoire (Ivory Coast), Africa, with the aim of driving technological innovation and economic growth in the region.
Visium's role in these projects encompasses network engineering services, system engineering services, converged infrastructure deployment, software development, and cybersecurity solutions, all featuring the TruContextTM data analytics and visualization platform. The total estimated contract value for these projects in Côte d'Ivoire is conservatively estimated at $50 million, with possible adjustments as the projects progress.
These projects are set to commence in October 2023 and have the shared goal of contributing to technological advancement and economic growth in Côte d'Ivoire. Representatives from both organizations will collaborate on various aspects of the partnership, including the scope of work, timelines, responsibilities, financial arrangements, and more.
Mark Lucky, Chief Executive Officer of Visium Technologies, expressed the company's expanded role in these projects, stating that beyond providing the TruContextTM platform, Visium will offer a comprehensive range of services, including Network Engineering, System Engineering, Converged Infrastructure deployment, Software Development, Project Management, Consulting, and Cybersecurity Solutions. This partnership marks Visium's first step in this expanded role, with potential similar opportunities in other countries on the horizon.
Liberty Gold Corp. (TSX: LGD) (OTC:LGDTF) is a company with a strong focus on exploring and developing open-pit oxide deposits in the Great Basin of the United States. This region, which spans across Nevada and into Idaho and Utah, is renowned for hosting large-scale gold projects that are particularly suitable for open-pit mining. Liberty Gold is committed to discovering and advancing substantial gold deposits that can be mined profitably in open-pit scenarios.
In a significant announcement on September 18, 2023, Liberty Gold Corp. reported the successful completion of two major transactions. First, the company concluded the purchase and resale of a 0.5% Net Smelter Royalty (NSR) on its Black Pine Oxide Gold Project (Black Pine) in southeastern Idaho. The NSR was acquired from a private company, with Liberty Gold providing $3.5 million in cash consideration and 200,000 common shares as part of the transaction. Simultaneously, Liberty Gold granted an affiliate of Wheaton Precious Metals Corp. (Wheaton) a new 0.5% NSR covering all claims comprising Black Pine, receiving $3.6 million in cash consideration. Liberty Gold retains the option to repurchase 50% of the Royalty for $3.6 million before January 1, 2030.
Secondly, Liberty Gold successfully closed a non-brokered private placement that raised $5.7 million in proceeds. This offering involved the sale of 22.9 million shares at C$0.34 per share. Wheaton significantly contributed to this private placement with a subscription of $5 million, while existing shareholders, management, and directors of the company subscribed to $0.7 million of the offering.
The proceeds from this private placement will be allocated towards exploration, development, economic studies, permitting programs for Liberty Gold's projects in the Great Basin, and general working capital. This strategic move is expected to further strengthen Liberty Gold's position and advance its endeavors in the prolific gold-producing region of the Great Basin.
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