Tri-Valley Corp. (AMEX:TIV) announced that it has entered into an exchange agreement with an institutional investor for the exchange and cancellation of its remaining outstanding Series A and B warrants for shares of the Company’s common stock. Under the terms of the agreement, the investor exchanged and cancelled warrants to purchase an aggregate of 2,100,000 shares of Tri-Valley’s common stock for 1,200,000 shares of the Company’s common stock. The warrants were issued in a registered direct offering on April 6, 2010. After the exchange, none of the Company’s Series A or B warrants will remain outstanding.
Tri-Valley Corporation explores for and produces oil and natural gas in California. It has two exploration-stage gold properties and a calcium carbonate quarry in Alaska.
Power3 Medical Products, Inc. (OTCBB:PWRM), a leading proteomics company focused on the development of innovative diagnostic tests in the fields of cancer and neurodegenerative diseases, recently announced that company management believes it is making great progress in its focus on the development, sales, and marketing of its proprietary innovate diagnostic tests for breast cancer, pancreatic cancer, ovarian cancer, colon cancer, and certain neurodegenerative diseases, such as Alzheimer’s and Parkinson’s, to name a few.
In addition, Power3 is a party to several litigation matters, most of which relate to various toxic debt instruments that were entered into by Power3 several years ago when it operated under the tenure of Chairman and CEO, Steven B. Rash. Because current management believes these toxic debt instruments are responsible for Power3’s depressed stock price and have distracted the company from its mission, Power3 plans to settle as many of these nagging lawsuits as possible prior to the completion of its merger with Rozetta-Cell Life Sciences, Inc.
As for those lawsuits that cannot be speedily resolved, Power3 will continue to rigorously defend its position. For example, one such lawsuit involves Neogenomics, Inc., which was recently granted a motion for summary judgment with respect to an amount due under a convertible debenture. Power3 intends to appeal this decision. Rozetta-Cell Life Sciences, Inc. is a medical biotechnology company that focuses on the delivery and imaging of stem cells during therapy. Power3 plans to effect the acquisition of Rozetta-Cell by merging Rozetta-Cell with and into Power3, with Power3 remaining as the surviving company. The acquisition of Rozetta-Cell is expected to be completed in February 2011.
Power3 Medical Products, Inc. is a leading bio-technology company focused on the development of innovative diagnostic tests in the fields of cancer and neurodegenerative diseases such as Alzheimer’s disease, Parkinson’s disease and amyotrophic lateral sclerosis (commonly known as ALS or Lou Gehrig’s disease).
Nevsun Resources Ltd. (AMEX:NSU) announced its successful first gold pour at the Bisha Gold Mine during late December. The first pour was part of the plant commissioning process and rendered two dore bars totaling 26 kilograms (approx. 920 ounces). President Cliff Davis stated, "Nevsun's first gold pour is a tremendous achievement that has been accomplished by a team of outstanding professionals on the ground in Eritrea and with the continued support of the Eritrean Government. It gives me great pleasure to say we are on time, under budget, and will considerably further the country's development with the realization of Eritrea's first modern day mine.
Nevsun Resources Ltd., a natural resource company, together with its subsidiaries, engages in the acquisition, exploration, development, and production of mineral properties.
Douglas Lake Minerals Inc. (OTCBB:DLKM) is pleased to provide an update regarding its recently acquired Handeni Project which is located in the rapidly developing region of eastern Tanzania. Douglas Lake Minerals’ 100% owned Handeni Project consists of four prospecting licenses covering approximately 800 km(2) which are directly adjacent to, and partly surround, Canaco Resources Inc’s (V.CAN) 200 km(2) Kilindi license which holds the Magambazi gold mineralization occurrence.
Douglas Lake Minerals Successfully Delineates Structural Controls on Gold Mineralization in the Four Handeni Project PLs. Douglas Lake Minerals is pleased to provide the results of the recent exploration program conducted on PLR PLR4973/2008, subsequently subdivided into four PL’s (PL6742/2010, PL6743/2010, PL6744/2010 and PL6779/2010), based on the outcomes of the first phase of the continuous exploration program conducted since 2008.
This exploration phase included a fixed-wing aircraft flown aeromagnetic and radiometric survey at a line spacing of 200m and a height of 80m, subsequent interpretation of data and ground follow-up. The survey and interpretation was conducted according to internationally accepted standards by the Council for Geoscience, South Africa. Douglas Lake Minerals is an emerging mineral exploration company focused on exploring mining opportunities in Tanzania.
UR-Energy Inc. (AMEX:URG) announced completion of a 2.5 month drilling campaign on its Lost Creek permit area in the Great Divide Basin, Wyoming. This drilling campaign accomplished several goals, the most significant of which was the delineation of deeper resources in the KM stratigraphic horizon of the Lost Creek deposit, which lie below Mine Unit #1 resource contained in the HJ stratigraphic horizon. The Lost Creek permit area is currently in the advanced stages of obtaining permits to mine uranium by means of In-situ Recovery (NYSEMKT:ISR) from the HJ stratigraphic horizon.
Ur-Energy Inc., a development stage junior mining company, engages in the identification, acquisition, evaluation, exploration, and development of uranium mineral properties in Canada and the United States.
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