VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jul 2, 2015) - Levon Resources Ltd. ("Levon" or the "Company") (LVN.TO)(LVNVF)(LO9.BE)(LO9.BE) is pleased to announce that it has received the conditional approval of the Toronto Stock Exchange ("TSX") for the listing of a new class of common shares (the "New Levon Shares") following the completion of the previously announced plan of arrangement (the "Arrangement") involving SciVac Ltd., Levon and 1027949 B.C. Ltd., which was approved by Levon securityholders on June 3, 2015.
The receipt of TSX conditional approval was a condition to the completion of the Arrangement. The Company expects to issue a further announcement shortly confirming the date on which the Arrangement will be completed and the date the New Levon Shares are expected to commence trading on the TSX.
For details of the Arrangement, please see Levon's management information circular dated May 1, 2015 and Levon's press release dated March 20, 2015, both of which have been filed on Levon's profile on SEDAR at www.sedar.com.
Looks like the other company just announced an Letter Of Intent for a partnership. It will be interesting to see if RCPI goes down the same LOI path, or a Memorandum Of Understanding, to create a jolt in stock price at a later date.
New Zealand Study
In December of 2014, the Company received a New Zealand Ministry of Health Ethics Committee approval to conduct a single-site, single dose, open-label human study, entitled "Determination of the Blood Pharmacodynamic Effects following a Single Dose of Oral Anatabine Citrate in Normal, Healthy Volunteers."
The primary objective of the study was to determine whether a single dose of orally administered anatabine citrate could reduce the activation of inflammatory proteins in human white blood cells. Blood samples were taken from ten healthy human subjects, collected before and after oral administration of anatabine citrate. The blood samples were immediately challenged with lipopolysaccharide (LPS), a well-known potent stimulator of inflammation. The blood samples were then evaluated to measure the activation of two proteins, NF-kB and STAT3, which are known to be central to inflammation. The study compared the amount of LPS-induced activation of NF-kB and STAT3 in the white blood cells before and after the administration of anatabine citrate. Activated NF-kB and STAT3 protein levels were measured by two different, well-established molecular biology methods.
Data analysis showed that there were statistically significant (pin vitro studies. Additionally, evaluation of safety data showed that anatabine citrate was well tolerated by the study participants and there were no safety concerns.
Ryan Lanier, PhD, Rock Creek Pharmaceuticals' Chief Scientific Officer remarked, "This is the first time that anatabine citrate taken orally by human subjects has been shown to oppose the activation of these known inflammatory proteins in white blood cells. The data are entirely consistent with our proposed mechanism of action of anatabine citrate which forms the basis for our advancement of this compound into clinical trials for human inflammatory diseases."
check out the 6/18/15 press release from Provectus (PVCT). You'll find another company that issued stock and warrants to Maxim for funding, and a trouncing of the share price since it occurred.
Safe...likely. Pharmacodynamics results...in question because results haven't been released yet. I'd think if they had good results, and were doing fund raising they would release those all important pharcodynamic results prior to doing the fund raising.
In the one month between PR's RCPI completed the follow up analysis, and then changed it's mind to release the results.
From the 5/12/15 PR
Follow up analysis is ongoing, and the Company is expected to provide a formal report before the end of the second quarter.
From the 6/11/15 PR
Follow up analysis is complete and the Company is expecting to provide a formal report in the third quarter.
It doesn't matter because the authorities will never do anything about it. Now if you happen to control 100 percent of the float, drive the price up, and cause the shorts lose their backside....then that will get the authorities attention and you will be arrested during a layover in Phoenix. C Y N K
The updated s-1 filing still states a 2Q date for the PEA. My new shares are in my account as well. However, I thought the original release said the 'D' would remain for 20 days, which would give us a few more weeks of it.
Additionally, I'm not lazy and I read the 424B5 form filing. The company was limited by the amount they could do under the ATM at 1.8mm. The company did 3.7mm the way they did it. "Based on our sales of common stock since February 6, 2015 and the limitations of General Instruction I.B.6 of Form S-3, we are only eligible to sell up to $1,899,210 of additional shares of common stock under the Sales Agreement as of the date of hereof and have amended and supplemented such Prospectus Supplement in accordance therewith. Further, as part of the offering, we agreed with the Placement Agent not to make any offers or sales under the Sales Agreement prior to September 15, 2015."
The amount of shares sold in the offering was 10x the 3mth average volume. Selling on the open market would have likely brought the price down beyond 2.25. Mullan did pretty good selling at 2.25 when it dropped below that on news of the sale.
because some of the clearing firms other clients want to short more, and are willing to pay the firm more than 17% to do so.
There was also a shelf registeration of the BTX owned shares on 5/26/15. It's possible BTX is selling off shares, or some shareholders fear the prospect of BTX selling.
Under plan of distribution Page 10 form 424B5 dated 6/17/15
"We may enter into derivative, sale or forward sale transactions with third parties, or sell securities not covered by this prospectus to third parties in privately negotiated transactions. If the applicable prospectus supplement and/or other offering material indicates, in connection with those transactions, the third parties may sell securities covered by this prospectus and the applicable prospectus supplement and/or other offering material, including in short sale transactions and by issuing securities not covered by this prospectus but convertible into, exchangeable for or representing beneficial interests in securities covered by this prospectus, or the return of which is derived in whole or in part from the value of such securities. The third parties may use securities received under derivative, sale or forward sale transactions or securities pledged by us or borrowed from us or others to settle those sales or to close out any related open borrowings of stock, and may use securities received from us in settlement of those transactions to close out any related open borrowings of stock. The third party in such sale transactions will be an underwriter and will be identified in the applicable prospectus supplement (or a post-effective amendment) and/or other offering material."
Repo, I've done my homework, which is why I've come to the conclusion that I don't see a catalyst for RCPI to go up 80% over the next few months. I am asking for an opinion that is contrary to mine so I don't fall prey to the dreaded confirmation bias. I like to challenge my own assumptions and closely held beliefs to see if they still hold water. Please enlighten me. You've done your homework, and given out assignments. What do you see as a catalyst for the company to stall/save/preserve its NASDAQ listing?