Proteonomix, Inc. (OTCPK:PROT)
PROT, a biotechnology company, engages in the development of stem cell therapies primarily for the treatment of diabetes and cardiac therapy, as well as offers cosmeceutical products. The stem cell therapy involves the introduction of healthy new stem cells to repair and replace damaged or lost cells. It offers product for the treatment of anti-aging and damaged skin. PROT develops cosmetic products using its technologies, Secreted Matrix and Matrix NC-138 that is a stem cell derived proteins technology. PROT is also involved in the operation of retail Web site, Proteoderm.com to sell its anti-aging line of skin care products; develops therapeutic modalities for the treatment of cardiovascular disease; and engages in the reproductive tissue banking, including sperm, ova, ovarian tissue, and testicular tissue. In addition, PROT develops intellectual properties for patent applications, including a medium and scaffolding for enhancing the growth of stem cells, a growth platform for stem cells, a cord blood banking cryopreservation bag, and a device to eliminate malformed stem cells via filtration. Further, PROT is developing pre-clinical-stage therapeutic agents and treatments for cancer, diabetes, heart, lung, and kidney diseases, as well as for stem cell bone marrow and organ transplants. PROT was formerly known as National Stem Cell Holding, Inc. and changed its name to Proteonomix, Inc. in August 2008. PROT was founded in 2005 and is based in Mountainside, New Jersey.
PROT, a biotechnology company focused on developing therapeutics based upon human cells and their derivatives, announced further developments with its Joint Venture Company, XGEN Medical LLC ("XGen") towards implementing operations in the United Arab Emirates (U.A.E.).
PROT is the majority shareholder in XGen with the balance held by an anonymous investor group. PROT personnel were on the ground in the U.A.E. over the past weeks to work together with the Investor Group through the start up phase. To date, XGen has established an office in the Monarch Office Tower on the prestigious Sheikh Zayed Road, and a residence for visiting PROT personnel on Jumeira 2.
During initial meetings, it was mutually decided to open a local subsidiary corporation in the Dubai free zone. This wholly owned subsidiary will be the vehicle to conduct business in the GCC countries. XGen has filed the corporate papers and has established banking relations with a local bank both for receipt of the initial investment of $5 million and towards further financing expanded services in the region. The Ramadan holiday has slowed progress slightly on these corporate formalities, but full operation of the subsidiary and bank accounts are expected to complete within 30 days.
It was further announced that XGen has expanded its talks within the region beyond a license for manufacture of and treatment with PROT cellular material. Discussions are now further encompassing both the construction of XGen's own manufacturing and treatment facility within the U.A.E. and on funding phased trials for one or more of PROT's proprietary cellular materials for treatment of disease.
PROT CEO, Michael Cohen commented that "The business environment in the U.A.E. is very receptive to Proteonomix and our medical technologies. There is an intense focus on high quality public medical care as well as cutting edge technology. When combined with the rebounding financial condition within the region, we are very pleased to have this opportunity to conduct business in a growing location for medical advancement."
To learn more about PROT visit: http://www.proteonomix.com
Gastar Exploration, Ltd. (AMEX:GST)
GST announced that it has entered into a joint venture agreement with Atinum Marcellus I LLC, an affiliate of Atinum Partners Co., Ltd., a leading investment firm located in the Republic of Korea. Pursuant to the agreement, Gastar will assign an initial 21.43% interest to Atinum in all of its existing Marcellus Shale assets in West Virginia and Pennsylvania, approximately 34,200 net acres, and certain producing shallow conventional wells in a transaction valued at approximately $70 million.
GST is an exploration and production company focused on finding and developing natural gas assets in North America. GST pursues a strategy combining deep natural gas exploration and development with lower risk shale resource and CBM development. GST owns and operates exploration and development acreage in the deep Bossier gas play of East Texas and Marcellus Shale play in West Virginia and Pennsylvania. GST's CBM activities are conducted within the Powder River Basin of Wyoming.
To learn more about GST visit: http://www.gastar.com
Nevsun Resources Ltd. (AMEX:NSU)
NSU is pleased to advise on growth strategies for reserves and throughput for the Bisha project in Eritrea. The Bisha gold phase remains on time and on budget, with commissioning expected in Q4 2010 and commercial production in Q1 2011. NSU plans to design the copper phase with throughput rates of 20% to 40% higher than the 2 Mt per year modeled in the Bisha feasibility study. Detailed design for the copper phase is starting in the next quarter with copper phase production scheduled for early 2013.
Nevsun Resources Ltd., a natural resource company, together with its subsidiaries, engages in the acquisition, exploration, development, and production of mineral properties. The company was formerly known as Hogan Mines Ltd. Nevsun Resources Ltd. was founded in 1965 and is headquartered in Vancouver, Canada.
To learn more about NSU visit: http://www.nevsun.com
Midway Gold Corp. (AMEX:MDW)
MDW is pleased to announce continued success from work reported by Barrick Gold Exploration Inc. at MDW's Spring Valley Project, Nevada. Drilling for the 2010 season commenced in March and is expected to continue through the fall season.Drilling in the second quarter of 2010 tested extensions and in some cases large step-outs north of the known resource area.
MDW is a precious metals company with a vision to design, build, and operate mines in a manner accountable to all stakeholders while producing an acceptable return to its shareholders. MDW controls over 65 square miles of mineral rights in the western United States, including four advanced exploration projects: Spring Valley, Pan, Golden Eagle, and Midway, as well as two early stage exploration targets: Gold Rock and Burnt Canyon.
To learn more about MDW visit: http://www.midwaygold.com
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