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Asia Business News

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    MMJ PhytoTech Limited (ASX:MMJ) ("MMJ" or "the Company") is pleased to advise shareholders that the Company welcomes the recent announcement (4 January 2018) made by Federal Government Health Minister Mr. Greg Hunt outlining the Government's plans to allow the export of medicinal cannabis products from Australia.

    Importantly, MMJ can advise that it is actively assessing a number of Australian-based strategic investment opportunities in the medicinal cannabis sector, aimed at further leveraging the Company's global distribution networks and cannabis cultivation expertise.

    Further details will be provided on these potential strategic investment opportunities in the near-term.

    In addition, MMJ through its 59%-ownership in TSX-V listed Harvest One Cannabis Inc. (CVE:HVST) ("Harvest One"), has commenced the supply of its Satipharm CBD capsules to approved patients in Australia, via a strategic distribution agreement with Melbourne-based HL Pharma Pty Ltd ("HL Pharma").

    Satipharm CBD capsules are manufactured by Satipharm AG (wholly-owned by Harvest One) and are currently sold throughout key regulated cannabis markets globally.

    Commenting on the Federal Government's decision, MMJ's Managing Director, Andreas Gedeon, said:

    "We are very encouraged by the Federal Government's plans to fast-track the growth of the Australian medicinal cannabis sector, with this latest development providing local cannabis producers with the required framework to compete on a global scale.

    "Prior to this development, the Board had been actively assessing a number of Australianbased investment opportunities to complement MMJ's existing asset base, and this latest legislative decision has provided the Company with a great deal of confidence to deploy additional capital into the Australian sector."

    About Harvest One Cannabis Inc.

    Harvest One Cannabis Inc. (CVE:HVST) controls operations across the entire cannabis value chain through three business units, with Harvest One serving as the umbrella company over horticultural arm United Greeneries and medical arm Satipharm AG. Each business is strategically located in favourable jurisdictions with supportive regulatory frameworks in place. United Greeneries has received a Canadian medicinal cannabis cultivation licence, making Harvest One one of only a few companies globally with the capacity to commercially cultivate cannabis in a federally regulated environment.

    Andreas Gedeon
    Managing Director
    Phone: +1-250-713-6302

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    Lithium Power International Limited (ASX:LPI) ("LPI" or "the Company"), in order to comply with Australian Security Exchange's ("ASX") compliance and regulatory requirements, is pleased to provide an Amended Preliminary Economic Assessment (PEA) for its Maricunga lithium brine project in northern Chile by the Maricunga joint venture company, Minera Salar Blanco (MSB).

    It is noted that the content of the PEA remains unaltered, however further disclosure and additional information is provided to allow further compliance with ASX and JORC disclosure requirements.


    - PEA confirms the high quality of the Maricunga Lithium Brine Project ("the Project"), with the outcomes from the PEA providing a base for further development.

    - The Project is progressing to a feasibility study, providing improved certainty regarding reserves, metallurgical design, equipment and operational risks.

    - Conventional evaporation pond and process technology to minimise operational risks.

    - PEA completed by Tier-1 engineering consultancy WorleyParsons to international standards. Accuracy of operating and capital cost estimates expected within a +/- 25% range.

    To ensure appropriate disclosure of information and assumptions used in the PEA full access to the PEA document prepared by WorleyParsons is available from the LPI website

    Lithium Power International's Chief Executive Officer, Martin Holland, commented:

    "Release of the PEA is a very important step towards becoming a lithium producer. The study demonstrates a very positive and robust outcome that justifies completion of a full feasibility study. The operating expenditure estimate places Maricunga in the lower quartile on the cost curve, at US$2,938/t (excluding KCl). The project has a payback of less than three years. It's important to state that the high level of detail in this study meets international standards."

    Executive Summary and Key Study Parameters

    The project plan is to produce 20,000t/a of lithium carbonate (LCE), with production of 74,000t/a of potassium chloride (KCl) from year 3 of the project when potash salts have accumulated to a level where continuous processing can be carried out. Key operating and capital costs are summarised in Tables 1 to 3.

    The study was based on extraction of an average 222 litres per second (l/s) of brine throughout the project life of 20 years. The brine commences approximately 10cm below the salt lake surface and extends below the base of the proposed bore field at 200m below the surface. Brine will be extracted from a minimum of 13 individual wells, pumping via a central collection pond to the evaporation ponds.

    In the evaporation ponds, the brine would be concentrated through evaporation and chemical saturation, with precipitation of different salts, such as halite, sylvinite and carnallite. All salts that precipitate would be periodically harvested from the ponds, and stored in designated stockpiles. The sylvinite and carnallite salts would be sent directly to the KCl processing plant, where through processes of size reduction and classification, flotation, leaching, drying and packaging, KCl fertilizer is obtained.

    Concentrated lithium brine from the evaporation ponds would be pumped to the reservoir ponds, from which a Salt Removal Plant would be fed. This plant would remove calcium impurities as calcium chloride and tachyhydrite from the brine. This would be achieved through consecutive evaporation and crystallization steps. This process allows a higher concentration of lithium in the brine.

    The concentrated lithium brine obtained from the Salt Removal Plant would then be fed to the lithium carbonate plant, where purification, solvent extraction and filtration remove remaining impurities including calcium, magnesium and boron. The concentrated lithium brine would then be fed to a carbonation stage, where through the addition of soda ash, the lithium carbonate precipitates. This precipitated lithium carbonate would then be fed to a centrifuge for water removal, and final drying, size reduction and packaging. The lithium and potash products would be exported from ports in the second region of Chile, near Antofagasta.

    The project has excellent existing infrastructure. The project is located beside one of the international roads connecting Chile and Argentina. High capacity electricity infrastructure is also nearby, providing excellent power options for the project development.

    Completion of a definitive feasibility study in the second half of 2018 and securing the project environmental and operating permits will take the Company to the point of final decision to proceed and financial investment.

    To view the full Study, please visit:

    Martin C Holland - CEO
    Lithium Power International
    T: +61-2-9276-1245
    Twitter: @LithiumPowerLPI

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    Mustang Resources Ltd (ASX:MUS) (FRA:GGY) (OTCMKTS:GGPLF) is pleased to announce that it has secured a A$19.95 million funding facility under a convertible note facility (Convertible Note Deed) with a leading US institutional investor.

    Funding in conjunction with a one for five non-renounceable entitlement issue to existing shareholders to fund the further development of the Montepuez Ruby and Caula Graphite Projects

    Key Points

    - Arena Investors LP, a major US institutional investor with more than US$750 million in assets under management on behalf of its clients and affiliates, commits to invest net A$19.95 million in Mustang under a multi-tranche convertible note facility

    - Funds to be drawn down in seven tranches with the first tranche of A$1.9 million (subject to conversion restrictions) to be received on signing the convertible note deed

    - Follow on tranche of A$3.8 million (subject to shareholder approval) available to the Company in May 2018

    - Balance of A$14.25 million will be available in five further draw-downs of A$2.85 million over two years, subject to shareholder approval

    - Opportunity for existing shareholders to participate through a one for five non-renounceable entitlement issue at 2.6 cents per share to raise up to A$4 million

    - Funding arrangement ensures that Mustang is financed for further planned exploration and development work on its Montepuez Ruby and Caula Graphite Projects in Mozambique

    The Convertible Note Deed, with convertible notes having a face value of A$21 million, has been signed with Arena Investors LP (Arena), a US-based institutional investor with more than US$750 million in assets under management on behalf of its clients and affiliates.

    Under the terms of the Convertible Note Deed, Arena has agreed to invest up to a net A$19.95 million (face value A$21 million) through an unsecured convertible note facility, to be drawn-down in seven separate tranches as follows:

    - A$1.9 million (face value A$2 million) to be received upon signing of the Convertible Note Deed (with notes subject to conversion restrictions) with the convertible note to be issued (together with any shares issuable upon conversion) under the Company's existing placement capacity;

    - A$3.8 million (face value A$4 million) (subject to shareholder approval) for the follow on tranche which may be drawn by the Company 4 months after the first tranche issue date; and

    - A$2.85 million (face value A$3 million) (subject to shareholder approval) for each of the remaining five tranches, with 3 to 4 months minimum between draw downs thereof. Each tranche has an 18-month term. The Company today also announces that it will also be offering shareholders a one-for-five (1:5) non - renounceable rights issue to eligible Shareholders on the designated record date (to be confirmed) to raise up to approximately A$4 million (before costs) at an offer price of 2.6 cents per share (Entitlement Issue).

    To view the release, please visit:

    Managing Director:
    Christiaan Jordaan
    T: +61-2-9239-3119
    Media & Investor Relations:
    Paul Armstrong
    T: +61-8-9388-1474

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    Environmental Clean Technologies Limited (ASX:ESI) (ECT or Company) is pleased to announce the signing of a term sheet for a R&D Rebate loan facility through to January 2020 in support of the Company's India project.

    Key points:

    - New York-based Innovation Structured Finance Co. LLC (Brevet) selected to provide new loan facility under market competitive and improved terms from last year's facility

    - Loan supports forward factoring of the anticipated AusIndustry R&D Tax Incentive rebate under the Company's existing overseas ruling for the Coldry component of its India project (and shortly expected overseas ruling for Matmor)

    - Anticipated drawdowns of AUD$7 million and AUD$9.5 million for FY17/18 and FY 18/19 respectively

    - Loan repayments anticipated in January 2019 and 2020

    - Maximum Facility limit is AUD$14 million over the full term

    - This funding will be provided as non-dilutive, senior secured, debt

    The Company entered a Trading Halt on Wednesday 3rd January and subsequently requested a Voluntary Suspension on Friday 5th January to allow finalisation of a new finance facility.

    The new finance facility entailed a market-wide assessment of providers for this type of lending, and the Company is pleased to announce that ECT's incumbent 'R&D rebate' lender, Brevet, has been selected.

    Brevet's value proposition was the most favourable of all respondents, which includes highly competitive pricing on commercial terms, very nuanced knowledge of the R&D Tax Incentive program, and a longstanding relationship with ECT and understanding of its business. The selection process involved assessment against multiple measures, including loan-life cash-flow, sensitivity modelling and risk scoring, along with standard measures like interest rates, fees, costs and loan features.

    The Company previously announced (22 December 2016) the execution of a Term Sheet with Brevet for a AUD$10 million debt funding facility. That Term Sheet has expired and been superseded by this new AUD$14 million facility, on more favourable terms to the Company.

    Key Terms

    Of the key terms for the loan facility, the interest rate remains subject to confidentiality, however the Company confirms that the facility offered by Brevet was unanimously agreed by the Board and the executive committee of ECT as being the superior offer presented, for all the reasons stated above, and in the best interests of shareholders.

    The rate that ECT pays for this facility will be the subject of mandatory disclosure and audit review during the regular statutory reporting cycles which will invariably reinforce the Board's ingoing view that this transaction is a great deal and allows the Company to progress its India Project with strength and purpose.

    Other key terms include:

    Security - As per the previous facility with Brevet, the R&D rebate provided to the Company under the R&D Tax Incentive program serves as the primary security for the new facility. The current registered charge held at the PPSR will remain in place.

    Defaults & covenants - The defaults and covenants contained within the Term Sheet are typical of the general terms and conditions for a facility of this type and the Company will provide timely updates if any of these are materially breached.

    This facility is an important element for the Company in meeting its obligations under the Master Project Agreement (MPA) for the proposed Coldry-Matmor integrated project in India (further project details below).

    The transaction secures ECT's anticipated contribution to the project, which is estimated to cost AU$30 million in total and is supported by an overseas ruling for its Coldry technology (see announcement 21 February 2017). The Company has previously advised (3 March 2017) it has submitted an application for an overseas ruling for the Matmor process component of the project and expects an outcome will be notified early in 2018.

    Glenn Fozard, Chairman of ECT, commented, "This outcome is proof that loyalty holds a mutual benefit to both borrower and lender. The past few years of dedicated use of Brevet's loan facility to support our Australian R&D activities is now being recognised in highly competitive borrowing rates when it counts the most for our company, as we pursue the scale up of our technologies with our Indian partners."

    "With this finance facility in hand we're able to focus our efforts on finalising the current project review process ahead of submission to India's national planning committee, NITI Aayog; and are aiming to reach financial close for the project within the current financial year."

    Trading Halt & Voluntary Suspension

    The Company requests that the ASX lift the Voluntary Suspension immediately.

    Project Background

    The project initially focuses on the execution of a research and development (R&D) stage consisting of a Coldry demonstration plant integrated with a Matmor pilot plant.

    With an estimated cost for the R&D stage of ~AUD30 million, the project is a first-of-a-kind collaboration between ECT, and two Indian government owned enterprises; NLC India Limited (NLC) and NMDC Limited (NMDC).

    ECT is the technology provider. India's national lignite authority, NLC is the site host and coal supplier, and India's national iron ore authority, NMDC is the iron ore supplier to the Matmor component of the project. Funding of the R&D stage is split equally among the parties under the proposed MPA.

    Following successful completion of the R&D stage, the MPA sets the framework for the transition of the project into a commercial phase, entailing a proposed 500,000 tonne per annum Matmor steel plant and commercial scale Coldry plant. The estimated capital cost for the commercial phase is AUD$300M+.

    Given the project entails the largest R&D investment ever made on a single project by either NLC or NMDC, and features a strong strategic alignment to India's policy objectives on a broad range of areas including energy and resource security, steel industry development and reduction of emissions intensity, it is potentially a project of national significance for India. These factors combined have supported the referral to NITI Aayog and the inclusion of an external, independent financial review.

    The scope of the financial review includes the following broad areas:

    - Examination of the Master Project Agreement (MPA) legal structure

    - Review of the proposed funding mechanism

    - Review of the structure and function of the Special Purpose Vehicle (SPV) entity

    - Analysis of the proposed R&D taxation structure

    - Analysis of ECT's cumulative cost base for development of the Coldry and Matmor technologies

    - Analysis of additional elements of the proposed project structure

    The review forms an essential part of the broader project assessment process being undertaken by the Indian Prime Minister's national planning committee, NITI Aayog, before execution of the proposed Master Project Agreement (MPA).

    The MPA frames the corporate structure, project roles, project activities, future royalty, technology licensing, financial and governance aspects for the joint development of the integrated Coldry-Matmor facility in India with NLC and NMDC. More detailed agreements would follow in relation to various aspects of the project once the MPA is executed.

    Ashley Moore - CMD of ECT India
    Glenn Fozard - Chairman of ECT Ltd

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    The Board of Queensland Bauxite Ltd (ASX:QBL) is thrilled to be involved in bringing to Australia, through its subsidiary MCL, a fundamentally new product in the world cannabis market, and especially in the Australian market that should be one that will be accepted by the medical industry at large due to the unique benefits and advantages enumerated below.

    - VitaCann Pty Ltd ("VitaCann") has signed an exclusive joint venture agreement (the "Joint Venture") for a World First Pharmaceutical Grade Medical Cannabis Extended Release Pill with Canntab Therapeutics Limited ("Canntab") of Toronto, Ontario, Canada.

    - VitaCann is a wholly owned subsidiary of Medical Cannabis Limited ("MCL"), subsidiary of Queensland Bauxite Limited (ASX:QBL),

    - MCL believes this product to be a game changing medicinal solution

    - New Australian Federal Government export approval gives MCL clear and tangible opportunities to expand production, processing and manufacture of its unique Cannabis seed bank, genetics and products into the existing worldwide multi-billion dollar markets.

    - The Australian Government has willingly put in place legislation to enable a consistent pharmaceutical grade GMP quality pill product such as the Canntab pill now secured by VitaCann, to be approved as a general prescription medication subject to an established approval process. This is unlike the legislative framework for current medical cannabis products being produced by nearly all other cannabis companies that without a consistent pharmaceutical grade product may find it difficult to get approvals.

    - Doctors will be more comfortable prescribing a pharmaceutical grade pill rather than allowing patients to smoke cannabis.

    - This XR pill is aimed to address the concerns raised by politicians, policy makers, medical professionals and medical cannabis patients who are looking for a better cannabis medicine delivery option (see below)

    - Possible solution to the opioid crisis

    - Canntab currently have several formulations of this pill to treat a variety of illnesses

    Comment from Pnina Feldman, Executive Chairperson of QBL

    Pnina Feldman, Executive Chairperson of QBL says "it is exciting to be involved in a venture which aside from its lucrative business prospects, aims at helping so many people in need of safe pain relief and other cures. Everyone knows someone who could benefit from this new technology, and it is deeply satisfying to see positive results with friends or family in dire need of such medication.

    "MCL will strive to educate the political, medical and general community as to the benefits of this new form of medication (the Cannabis pill-XR), in the hope that Australia will now lead the rest of the world in progressing the currently amateur global medicinal cannabis market into a real medical pharmaceutical quality industry to the strict and globally respected Australian standards that the mainstream medical industry will accept. It is our belief that this unique Canntab pill will do just that."

    Comment from Andrew Kavasilas, Technical Director of MCL

    Andrew Kavasilas says "With the much anticipated Federal Government announcement in relation to the export of medical cannabis products by Australian companies, this Joint Venture constitutes a leap forward in the Medicinal Cannabis Industry in Australia, by MCL having the foresight to develop such a deal and the signing of a joint venture agreement between Canntab Therapeutics of Canada and VitaCann, MCL's medical product arm."

    Comment from Jeff Renwick, CEO of Canntab

    Jeff Renwick, CEO of Canntab said: "We're excited about the new Australian export laws and our collaboration with VitaCann and MCL in Australia. It is a testament to the forward thinking of MCL and the medicinal delivery technology developed by our team at Canntab.

    "This deal also allows us to bring to the Australian market a significant advancement in Cannabis based medicines, for which VitaCann will work towards securing the necessary approvals for distribution in Australia. We believe that the current legislation in Australia will allow a pharmaceutical product of this nature to be approved for testing, distribution and sale in Australia.

    "Canntab's patent-pending extended release formulation for the first time lets doctors understand the actual products and establish the appropriate dosage for their patients. This will make taking medicinal Cannabis much easier for patients, which should translate into more effective treatment regimes and options."


    There is now a growing trend of national and international entities recognising the medicinal and therapeutic benefits of Cannabis. Major legislation and fast tracking of policies have been introduced in Australia, Ireland, Germany and the Philippines amongst others for the legalization of Cannabis for both medicinal and recreational uses. The interest in Cannabis to be used for medicinal purposes is growing exponentially.

    Notwithstanding the recent legislation passed in Australia to allow medical Cannabis products, the industry has so far struggled to introduce products that the Australian medical industry or Government can approve or endorse, due to the challenges enumerated below. It is our belief that Canntab's proprietary product addresses these challenges, and will, once the formal clinical trials have been completed, find general acceptance among medical professionals and will be approved for widespread prescription use in Australia, and therefore will also be approved for export under the newly proposed legislation.

    Medical Uses

    Though there is no pharmaceutical grade Cannabis medicine yet available to doctors to prescribe anywhere in the world, in some countries that provide Health Department exemptions like Israel, Canada and some American States, high THC Cannabis has been approved for use by patients to alleviate symptoms of arthritis, chronic pain, diabetes, epilepsy, anxiety, fibromyalgia, glaucoma, hepatitis c, HIV/AIDS, autism, amongst many other ailments.

    It is our belief that these new pharmaceutical grade Canntab products however will, subject to going through the formal approval process, achieve the approvals required under the current legislation to be the premier medical cannabis product that can be confidently recommended and prescribed by the medical fraternities in Australia and globally.

    It is therefore the view of the Board of MCL that the Canntab products will propel MCL to be the leading producer of approved medical Cannabis products in Australia well ahead of any other competitors.

    Landmark Study

    2017 report by the US National Academy of Sciences Engineering Medicine reviewed 10,000 abstracts and confirmed that one of the therapeutic uses of cannabis and cannabinoids is to treat chronic pain in adults. The committee found evidence to support that patients who were treated with cannabis or cannabinoids were more likely to experience a significant reduction in pain symptoms.

    Medical Cannabis use does not appear to have many of the dangerous and toxic side effects that come with many other medications, making this product a potential solution to the serious global opioid crisis amongst many other major benefits.

    Solution to the Major Roadblocks to the Use of Cannabis for Medical Purposes

    The current delivery methods for Cannabis have significant shortcomings. Medical practitioners report that the current delivery methods are mostly unreliable, hard to accurately manage dosage, and there is also a clear stigma attached together with potential dangerous side effects with smoking and vaping. Dry flower (bud) smoking for example, which accounts for a significant percentage of medical cannabis sales in Canada, has major issues of dosage management issues, patients cannot consume discreetly, carcinogens are inevitably inhaled and is inappropriate for children.

    Cannabis Oils

    Rapidly rising in popularity, oils and sprays are orally administrated solutions that addresses issues caused by smoking. However, issues of this method of delivery include: unreliable onset time for patients and highly variable timelines for peak blood plasma, causing "stacking" (taking too much) by misdosage, and besides, there are significant storage and stability issues, including potentially going off or losing its potency within relatively short periods of time.

    What about Topicals?

    Topicals are produced with oils by blending them with a fatty acid or propylene glycol. Topicals are typically only used for localized pain. This is a relatively inefficient delivery method that cannot address a myriad of other issues and ailments, including, specifically, dosage control.


    Synthetically produced cannabinoids have been around for decades and have never proven themselves to be appropriately efficient. Used as the principal component in pharmaceutical grade drugs such as Marinol, evidence to date show that synthetics lack a number of the benefits of natural or whole Cannabis cannabinoid extracts.

    What is the logical medical Cannabis solution?

    Andrew Kavasilas answers, "First we must understand the difference between the high THC medical Cannabis being smoked by almost all patients in countries that provide a Health Department exemption for people to use it, and pharmaceutical cannabinoid medicines which are regulated by Federal Government bodies and which doctors will be more inclined to recommend or prescribe. These are the types of products that must be developed and now we believe that CannTab has done just that."

    The Canntab Solution

    Canntab's proprietary extended release tablets make it easier for doctors and patients to manage dosage. They're easier to take, eliminate social stigma, and do not have the adverse side effects of smoking marijuana.

    Significantly, The Canntab XR tablets have incorporated proprietary extended release technology allowing patients to experience consistent extended relief.

    Canntab's unique sustained release dosage is designed to release the active pharmaceutical ingredient at a predetermined rate in order to maintain a constant drug concentration over a specific period of time - resulting in a longer duration of action from a single dose of between 12 to 18 hours, and often with reduced side effects. These same results cannot be achieved by other delivery systems, such as smoking, vaporing, or edibles.

    Joint Venture

    The joint venture has been formed, to market and sell the Canntab proprietary products in Australia with a first right to distribute throughout Asia. VitaCann and CannTab will work towards having Canntab's tablets formally approved for sale in Australia and to export to Asia. Pursuant to recent and evolving legislation in Australia, the Canntab product should qualify for approval, as it should meet all the standard medical requirements that would be expected by the medical industry and deals with the above mentioned issues and without the problems that nearly all other Cannabis products to date have faced.

    We believe that the patents filed and pending protects key features of our IP, and positions Canntab to be the definitive Cannabis delivery method of choice among the established medical professions and ever expanding number of Australians using cannabis everyday for medical purposes, and an even greater number who would find benefits from its use.

    Innovative Intellectual Property

    The Canntab - VitaCann JV has robust intellectual property licensed by Canntab, with access now to MCL's unique Australian Cannabis strains, and six filed patents protecting the Extended Release Tablets(TM) (XR).

    Patents for unique formulations targeted at specific ailments have already been filed with the Canadian Patent Office.

    Designed for Patients for Accurate Dosing

    Even distributions of cannabinoids throughout the tablet dosing in 2.5mg, 5mg, and 10mg permits the patient taking the tablet to effectively titrate ("build up to") with full knowledge and awareness of their medication intake, making it easier for doctors and patients to manage dosage. This is also in stark contrast to the inconsistency of oils and combustibles.

    Simply put, a responsible medical professional would rather recommend a patient take uniform dosage tablets produced to pharmaceutical industry standards than smoke Cannabis.

    Youth Patients

    Appropriate consumption method for youth patients. Ease of portability and storage of the product permits patients to have more individual freedom.

    CBD/THC Variations XR Tablets

    The tablets are designed to specifically regulate the percentages of Cannabinoids and Terpenoids depending on the needs of the patient. This allows confident, reliable and consistent-dose use by patients requiring high CBD medication (i.e. epilepsy) as well as high THC medications (lack of appetite brought in by chemotherapy). A stark contrast to the inconsistency of oils and smoking!

    Amongst the advantages of Canntab XR Tablets (TM) are: Quick Onset, Together with Long and Stable Relief

    Unlike other oral delivery methods, Canntab utilizes Flash Melt delivery which allows absorption to begin immediately providing rapid relief to patients.

    The XR tablets have incorporated proprietary extended release technology allowing patients to experience consistent extended relief.

    Canntab Offers Stability

    Patients that use XR tablets will be able to achieve rapid relief with even titration over an extended period.

    Combustion of dry flower, while providing relief within seconds has a relatively short duration, often just 2 hours for most patients.

    Edible solutions provide longer relief, but their slow onset time can be a major issue for those with chronic issues and the risk of "stacking" is more prevalent.

    Canntab's unique Sustained Release Dosage is designed to release the active pharmaceutical ingredient at a predetermined rate in order to maintain a constant drug concentration over a specific period of time - resulting in a longer duration of action from a single dose and often with reduced side effects.

    Extremely Valuable Medical Cannabis Breakthrough

    The Sustained Release Product is designed to release the cannabinoid content over a period of at least 12 hours.

    Sustained release formulations of pharmaceutical products are particularly valuable in the treatment of chronic conditions, such as chronic pain, where patients tend to need "around the clock" relief. There is substantial evidence that cannabis is effective for the treatment of numerous conditions including neuropathic pain.

    This sustained release patent pending IP will form part of the first trials to be conducted in Australia to clinically prove the technology locally to TGA standards in order to achieve the Australian Government and TGA approvals.

    As a result of the Canntab product and technology, and the current legislative environment in Australia, the Joint Venture feels that approval in Australia should be achieved. This could lead to approval of the Product in other countries. MCL is confident that the Canntab tablet will be the product of choice for the massive multi-billion-dollar medical cannabis industry, and will confidently be prescribed by the medical industry in Australia and throughout the world.

    Unique Protected Process in the Manufacture of the XR Pill

    1.Cultivation: The dry bud is harvested from top-tier suppliers that deliver consistent flower with consistent genetic profiles while being free of pesticides. MCL also owns its own unique seed bank. MCL and Canntab will collaborate to identify MCL cultivars from its seed bank with optimal and similar cannabinoid profiles and ratios as used in the primary production.

    2.Extraction: Co-located extraction using CO2 and not hydrocarbons such as hexane or butane, will be used to extract the key cannabinoids (THC, CBD). This raw extract will be the principal active ingredients in XR Tablets.

    3. Granulation and Blending (Key IP): The company's strategic patents filed and pending permit the extract to be granulated and blended into individually dosed pills for even distribution of cannabinoids offering critical features including rapid onset and steady extended release.

    4. Packaging: The final stage will involve individual packaging into blister packs that will allow patients ease of consumption, accurate dosing, and awareness of when they need to refill.

    MCL Technical Director Andrew Kavasilas said, "this agreement sets the scene for MCL to use its own Cannabis strains to initiate and be at the forefront of Australian based collaborative research into technical extractions and cannabinoid refinement, preclinical formulation, clinical development, regulatory approval, manufacturing and commercialisation of many unique and proprietary Sustained Release Products for the treatment of the many illnesses that different formulations of Cannabis may treat".

    Canadian approvals in place

    Canntab is expecting to produce the initial trial batches of GMP standard product in February and March 2018 which will permit the company and its Canadian partner to submit to Health Canada for marketing approval in order to ramp up its production of Sustained Release Products. Canada already has a proven track record in the export of Cannabis and Canntab already has the ability currently to export its product from Canada to countries with corresponding import legislation such as Australia.

    Plans for Australian Import Approvals

    Australia has allowed importing of medical cannabis products, and MCL will be expeditiously applying for import permits for the Canntab product.

    This includes further detailed analysis of the procedures already utilised to import other medical Cannabis products, including the unlicensed and unregistered products imported to Australia by other companies.

    Australian authorities have stated that products produced in countries where medical Cannabis is legal can be prescribed and trialed in Australia as long as the products in question have been produced to GMP Standards.

    MCL believes the Canntab range of products meet the necessary and prerequisite standards for any new medical product to be considered for import for local distribution under the Australian Therapeutic Goods Administration (TGA) Special Access Scheme, and also for clinical trials in Australia for full TGA approval.

    MCL do not know of any reason why the import licence and permit should not be approved in due course in line with current import legislation. Timeframes for import permits are currently up to the government, and as it is a new industry in Australia it is unknown how long the approvals will take, but the government statements have shown the government to be keen to progress and expedite such approvals for appropriate medical Cannabis products that can be prescribed as a medicine in Australia.

    Plans for Australian Production and Export of Australian Canntab Product

    In parallel, MCL will immediately be looking to work together with an existing GMP approved manufacturing facility in Australia during 2018, and in due course also work towards setting up its own manufacturing facility in Australia, to produce the innovative Canntab product using MCL's own cultivars, genetics and processing. These products should then also be available for export from Australia under the newly announced laws, to countries that will allow medical cannabis imports, particularly from a country with advanced regulation and quality control such as Australia.

    Export of MCL's Unique Genetics for Canntab Production in Canada

    MCL will also be applying for export of MCL's Cannabis genetics (chemovars) to Canada to enable the chemovars to be assessed by Canntab, to incorporate into and/or produce unique Canntab products using MCL's wholly owned Cannabis genetics from its Australian seed bank.

    Plans for Australian Domestic Medical Approvals

    MCL intends to seek approval for Canntab products as required by Australian health authorities in accordance with new laws and policies recently developed by the Australian Government.

    Though the anecdotal and research dossier on the use of Cannabis for medical purposes is much more robust than for most other prescription drugs, the missing link has always been the subsequent uptake towards legitimate trials using a lawful source of a whole plant extract, rather than a single natural cannabinoid or synthetic analogue.

    VitaCann and Canntab intend to immediately collaborate on preclinical formulation, clinical development, regulatory approval and commercialisation of a range of additional cannabinoid containing formulations processed under Canadian GMP standards.

    Work is being done and assessed by MCL to identify and pin point two or three medical conditions that will be targeted by the products from the Canntab range.

    Irrespective, MCL and Canntab will work with health departments and government officials to ensure an even playing field is set so that a clinical trial can be conducted in accordance with Australia's new medical Cannabis laws and policies.

    MCL will be working on two fronts in parallel; initially under the TGA Special Access Scheme which could happen imminently as above, and in due course under its own TGA approval through full clinical trials to be conducted under current legislation.

    Under normal circumstances, new drugs to be approved by the TGA can take between 5 to 10 years to reach the market and involve expenditure of $100's of millions, with uncertain outcomes. We have already seen the Australian Government fast track imports, develop new policies and make public announcements in relation to Cannabis exports. These are all extremely positive signs and MCL firmly believes that additional government changes and response to overwhelming public pressure will expedite approval for many steps along the way.

    With other drug approvals by the TGA, human clinical trials are the last step of approval, and are therefore unproven if they will adequately or safely work on humans. Drug trials are generally only conducted on humans after extensive animal testing. With Cannabis however, overwhelming global anecdotal evidence and detailed scientific and medical research particularly in Israel and North America, is already proving the effectiveness of varying strains of Cannabis for numerous significant human conditions, with extensive active human trials taking place. It is therefore our view that the medical approval process for Cannabis in Australia is likely to be expedited, particularly since the Australian government policy is being fast tracked and shaped by overwhelming public support and pressure to allow patients access to these products as quickly as possible.

    Mr Kavasilas added, "We all know by now there is substantial anecdotal evidence that cannabinoids are effective and being supplied in many countries for the treatment of a number of conditions including, chronic pain, chemotherapy induced nausea, anxiety and sleep disorders, spasticity in patients with Multiple Sclerosis and pediatric epilepsy.

    "MCL will seek to license and export our own Cannabis strains as soon as we can, while at the same time working on importing Canntab products and technology to use in conjunction with our own Cannabis strains. Canntab is going the extra mile in cannabinoid medicine development and delivery, I believe we're looking at the perfect products that should be imported as soon as possible to supply Australians suffering from recognised conditions who are otherwise being encouraged by all manner of politicians to use illicit Cannabis for medical purposes in the absence of prescription cannabinoid medicines".

    Material Terms of the VitaCann-Canntab Joint Venture

    1. The parties have signed a 50/50 joint venture (JV) agreement for the JV to exclusively manufacture, distribute and sell tablets containing Canntab's proprietary technology and formulation in Australia, and to obtain the approval for such activities. VitaCann retains the right of first refusal for distribution of the product throughout Asia.

    2. VitaCann will be responsible for the first USD$1,000,000 of the JV's expenditure in Australia, following which expenses will be split 50/50 between the parties.

    3. The Joint Venture will be operated under the name Canntab Australia.

    4. The Joint Venture shall be owned equally by Canntab and Vitacann and each of them shall be entitled to one half of all income and profits earned by the Joint Venture.

    5. All contracts relating to the products entered into by the parties shall be in the name of the Joint Venture.

    6. All registrations in Australia (and/or Asia) related to the products shall be in the name of the Joint Venture.

    7. Canntab grants to the Joint Venture the exclusive right to utilize the patents and the know-how to market, sell and distribute the products in Australia with a first right throughout Asia.

    Pnina Feldman, Chairperson of QBL, says "Not only do we as a Board believe that MCL is currently at the forefront of the hemp seed food industry in Australia, but we also believe that with its national and international connections in the medicinal Cannabis world, and its unique seed bank and cannabinoid collection research over 15 years, and now with its joint venture with Canntab, MCL is well placed to be at the forefront of medicinal Cannabis research and product development, for Australia and worldwide benefit, and for the benefit of all QBL shareholders."

    About Canntab

    Canntab Therapeutics Limited is a Canadian cannabis oral dosage formulation company based in Markham Ontario, engaged in the research and development of advanced pharmaceutical grade formulations of cannabinoids. Canntab has developed in-house technology to deliver standardized medical cannabis extract from selective strains in a variety of extended/sustained release pharmaceutical dosages for therapeutic use. Simply put, Canntab's mission is to put the "Medical" into medicinal Cannabis!

    To view figures, please visit:

    Queensland Bauxite Ltd
    Tel: +61-2-9291-9000
    For further information or any queries please email the Company at:

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    Brisbane-based conventional gas developer State Gas Limited (ASX:GAS) is pleased to advise it has successfully completed gas flow-testing, sampling and analysis from existing gas wells at PL 231 in the Bowen Basin Central Queensland.

    The flow-testing and sampling was undertaken by Kinetic Production & Wellhead Services, based in Roma, Queensland.

    The three wells flow-tested and sampled were Primero 1, Aldinga North 1 and Reid's Dome-4. Drilled between 11 and 37 years ago, these existing wells are located within the northern half of PL 231.

    The Company is pleased to report that, despite the wells being shut-in for such an extended period, all wells flowed significant gas, at lowest recorded stabilized rates of between 357,000 cf/d and 658,000 cf/d using a 0.500" orifice plate.

    Two gas samples per well were taken from each of these wells and sent to Petrolab in South Australia for analysis. Gas composition results indicate the produced gas represents a similar composition in its natural form to that of pipeline-quality gas, with an average Methane (C1) content of approximately 96%, average Carbon Dioxide (CO2) content of approximately 1.5% and very low levels of interts.

    The similar reservoir pressure (166 - 167psig) and gas composition results for all the wells also implies that the reservoir is connected between each of the wells tested, providing a positive indicator for future gas production.

    The gas flow-testing and sampling conducted in mid-December relates to the shallow Cattle Creek Formation, which commences at approximately 130 metres from surface and does not include gas targets within the deeper Reid's Dome Beds situated beneath the Cattle Creek horizon.

    The Company is also pleased to advise that the reprocessing of historical seismic survey data by DownUnder GeoSolutions is currently underway and is expected to be complete during February 2018. With the seismic re-interpretation and the recent flow-testing and gas composition results, well sites will be selected for the 2018 drilling campaign.

    To view tables, please visit:

    Greg Baynton
    Executive Director
    State Gas Limited
    M: +61-414-970-566
    Tony Bellas
    State Gas Limited
    M: +61-412-244-385

    0 0 (CRYPTO:BNB) advise that (CRYPTO:APPC), APPC/BTC and APPC/ETH trading pairs are now available for AppCoins on Binance for trading. You can start depositing and trading APPC now.

    AppCoins is an open and distributed protocol for App Stores using blockchain technology and smart contracts. AppCoin (APPC) tokens will serve over 200 million users on Aptoide and is the new native currency of the app economy that ensures trust without intermediaries.

    Aptoide is one of the largest Android App Stores, with over 4 billion downloads, 200 million users and direct engagement with over 12,000 developers including Gameloft and Zeptolab. Aptoide has a network of over 70 corporate partners, including OEMs and Telecom companies such as Xiaomi, Oppo, Meizu and Vivo.

    Total Supply: 450,000,000
    Circulating Supply: 180,000,000
    ICO Price: $ 0.27

    AppCoins redesigns app advertising, in-app purchases (IAP) and app approval flows through a circular model. As a higher share of the advertising and IAP revenue is kept within the app ecosystem, more value is rooted back into the app economy. Being an open protocol, it also provides more transparency and trust. Multiple app stores can implement and benefit from this and stakeholders will contribute to its development and adoption. Furthermore, simple API integration will allow easy implementation.

    Through AppCoins we can integrate app stores, users, developers, advertisers and OEMs. This system is app store agnostic, existing across different mobile platforms (Android & iOS). In AppCoins, the different app stores act as oracles of the smart contracts, which are associated with each of the platform's core transactions. This system creates a trust layer for the economy, rendering many middlemen obsolete. AppCoins aims to become the universal language of the app economy.

    The protocol also includes a so-called Proof-of-Attention system. Users, app stores, and OEMs receive tokens through the Proof-of-Attention concept as a reward. Developers that want to advertise their apps can be sure that the user has installed and used it. The users reinvest their tokens via inapp purchases and this creates a virtuous loop that boosts the AppCoins economic growth.

    To download the whitepaper, please visit:


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    Diversified investment company Chapmans Limited (ASX:CHP) ("Chapmans" or "the Company") is pleased to announce the appointment of leading blockchain expert Alex Taylor to its recently established Blockchain Industry Advisory Board.


    - Chapmans has appointed Alex Taylor to its Blockchain Industry Advisory Board

    - Blockchain is an emerging technology that underpins cryptocurrencies such as Bitcoin

    - Mr Taylor is a leading expert in blockchain technology and co-founder of BitPOS, an Australian provider of bitcoin merchant services including ATMs

    - Chapmans made its first strategic investment into blockchain in December 2017 when it became the largest shareholder in REFFIND Limited

    - Chapmans appointed blockchain expert Mike Cohen as its first Blockchain Industry Advisor in December 2017

    Mr Taylor is currently Senior Manager of Disruptive Strategy at Insurance Australia Group (ASX:IAG). He has been involved in the blockchain industry since its inception and is the co-founder of BitPOS, an Australian provider of bitcoin merchant services including ATMs.

    In his role at BitPOS, Mr Taylor has provided consultancy to state and federal law enforcement and corporate regulators and was involved in the establishment of legal precedent for the operation of blockchain and digital currency operations in Australia. He has a background in both startup and large-corporate technical solution delivery and has navigated the technology acquisitions and due diligence process for a number of entities.

    Blockchain is a digitised, decentralised public ledger of all cryptocurrency transations. It is the technology that underpins cryptocurrencies such as Bitcoin, Ethereum and Ripple, which have all surged in value in the last year and are currently the top three cryptocurrenicies by market capitalisation. The price of Bitcoin increased roughly 1,600% in the last year. Ethereum and Ripple are up approximately 12,000% and 54,000% respectively.

    The intense interest and investment in blockchain is quickly establishing it as a significant technology movement that will revolutionise a wide-range of industries including banking and professional services, trading markets, supply chains, identification, data management and even politics.

    Chapmans made its first strategic investment into blockchain in December 2017 through a $1 million participation in REFFIND Limited's (ASX:RFN) ("REFFIND") share placement. REFFIND's exposure to blockchain is through its investment in Loyyal Corporation ("Loyyal"), a blockchain-based global leader in the loyalty and rewards industry. REFFIND now has exclusive rights to Loyyal's technology platform and product offering in the Asia-Pacific region. Chapmans is REFFIND's largest shareholder as of December 2017 with holdings totalling 9.33%.

    Chapmans established its Blockchain Industry Advisory Board in December 2017 when it appointed Mike Cohen as Blockchain Industry Advisor. The Blockchain Industry Advisory Board employs its technical, commercial and regulatory expertise to identify and assess compelling blockchain investment opportunities. The Company sees investment in blockchain technology as in keeping with its growth plans and commitment to investing in early stage technologies with reach into key international markets.

    Chapmans has a strong and expanding pipeline of global blockchain investment opportunities that it is currently assessing as part of its high conviction investment approach.

    Chapmans' Blockchain Industry Advisor Alex Taylor: "I am excited to be joining Mike Cohen on Chapmans' Blockchain Advisory Board. Operating in both the technical and business development sectors has given me a unique insight into the value delivered by blockchain-based enterprises and will allow me to assist Chapmans in making informed blockchain investment decisions."

    Chapmans' Executive Chairman Peter Dykes: "We are very pleased to be bolstering our newly established Blockchain Industry Advisory Board with the addition of Alex Taylor. Mr Taylor brings a wealth of expertise to the table with his extensive background in finance and telecommunications system architecture and the integration of blockchain into existing business processes. We are looking forward to having him advise us on future blockchain-based investment opportunities."

    About BitPOS

    BitPOS is a digital currency merchant services provider, allowing merchants to accept Bitcoin and other digital currencies as a form of payment for their products and services, both for in-person transactions (restaurants, bars, clubs), and invoice-style transactions (largely, gold and precious metals). In addition, BitPOS has created the world's only end-to-end digital currency ATM solution, allowing the placement of retail-setting ATMs allowing digital currency purchase whilst maintaining world-class safety and security of digital funds. As the only provider of digital currency merchant services in Australia, BitPOS seeks to provide our merchant and their customers with a low-friction experience whilst exposing them to a new asset class and form of payment.

    Peter Dykes
    Executive Chairman
    Chapmans Limited
    T: +61-2-9300-3605
    Anthony Dunlop
    Executive Director
    Chapmans Limited
    T: +61-2-9300-3605
    Media and Investor Enquiries
    The Capital Network
    Julia Maguire, Director
    T: +61-419-815-386

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    Altech Chemicals Limited (ASX:ATC) (FRA:A3Y) is pleased to announce that its wholly owned Malaysian subsidiary, Altech Chemicals Sdn Bhd has submitted a manufacturing licence application to the Malaysian Investment Development Authority (MIDA), for its proposed high purity alumina plant.


    - Manufacturing licence application submitted

    - "Pioneer Status" investment incentive (5-year tax exemption)

    - High technology manufacturing of advanced material

    - 1.2 billion ringgit investment in Malaysia

    Application has also been made to MIDA for the HPA project to be afforded "Pioneer Status" (High Technology) investment incentive classification. A project approved as Pioneer Status (High Technology) will benefit from income tax exemption of 100% of its statutory income for a period of 5 years from the commencement of commercial production. In addition, any accumulated losses and unabsorbed capital allowance (depreciation) during the Pioneer Status period can be carried forward and deducted from post Pioneer Status period income.

    Altech has been liaising with MIDA about its proposed HPA project since 2015 and recently met with MIDA representatives in Kuala Lumpur, Malaysia to finalise the applications. Altech was not previously in a position to submit the manufacturing licence and Pioneer Status applications as the project capital cost and engineering, procurement and construction (EPC) contract had not been finalised.

    Altech's proposed HPA project represents an investment of approximately 1.2 billion ringgit in Malaysia. The advanced manufacturing technology that will be employed in Altech's HPA plant and the strategic nature of the finished product is consistent with the type of high technology manufacturing projects that Malaysia is promoting via MIDA and its various investment incentives. The project has been previously presented to the Minister of International Trade and Industry, Dato' Sri Mustapa bin Mohamed and Chairman of MIDA, Tan Sri Amirsham Abdul Aziz.

    To view figures, please visit:

    Iggy Tan
    Managing Director
    Altech Chemicals Limited
    Tel: +61-8-6168-1555
    Shane Volk
    Company Secretary
    Altech Chemicals Limited
    Tel: +61-8-6168-1555
    Investor Relations (Europe)
    Kai Hoffmann
    Soar Financial Partners
    Tel: +49-69-175-548320

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    MMJ PhytoTech Limited (ASX:MMJ) ("MMJ" or "the Company") is pleased to advise that TSX-V listed Harvest One Cannabis Inc. (CVE:HVST) ("Harvest One"), which is 59% owned by MMJ, has released an operational update in relation to its wholly-owned horticultural subsidiary United Greeneries Ltd ("United Greeneries").

    About Harvest One Cannabis Inc.

    Harvest One Cannabis Inc. (CVE:HVST) controls operations across the entire cannabis value chain through three business units, with Harvest One serving as the umbrella company over horticultural arm United Greeneries and medical arm Satipharm AG. Each business is strategically located in favourable jurisdictions with supportive regulatory frameworks in place. United Greeneries has received a Canadian medicinal cannabis cultivation licence, making Harvest One one of only a few companies globally with the capacity to commercially cultivate cannabis in a federally regulated environment.

    To view full copy of the Harvest One announcement, please visit:

    Andreas Gedeon
    Managing Director
    Phone: +1-250-713-6302

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    Intermin Resources Limited (ASX:IRC) ("Intermin" or the "Company") wishes to advise that Executive Director Lorry Hughes has tendered his resignation from the Company effective 31 January 2018 to take on an executive position in a new exploration Company.

    The Company is also pleased to announce the promotion of Grant Haywood to the role of Chief Operating Officer (COO) effective immediately.

    Mr Haywood, the Company's current General Manager - Mining, is a Mining Engineer with more than 25 years' experience in underground and open cut mining operations and holds a First Class Mine Manager's Certificate. He has managed West Australian mining projects from feasibility through to operations for junior and multinational gold mining companies including Gold Fields, Saracen Mineral Holdings and Phoenix Gold.

    Commenting on the Management changes, Intermin Chairman Peter Bilbe commented:

    "The Board would like to extend its sincere thanks to Lorry for his significant contribution to the successful growth of the Company to date and wishes him well in his new role. In turn, we are delighted to promote Grant to the position of COO as we continue our successful mining operation at Teal and grow the business through self-funded exploration, completion of mining studies to bolster our development pipeline and pursue further acquisitions."

    Jon Price 
    Managing Director
    Tel: +61-8-9386-9534
    Lorry Hughes 
    Director - Business Development
    Tel: +61-8-9386-9534
    Michael Vaughan
    Media Relations - Fivemark Partners
    Tel: +61-422-602-720

    0 0

    MMJ PhytoTech Limited (ASX:MMJ) ("MMJ" or "the Company") is pleased to advise that its partly-owned TSX-V listed subsidiary, Harvest One Cannabis Inc. (CVE:HVST) ("Harvest One"), has released two announcements regarding its intentions to undertake a fully underwritten short form prospectus offer to raise up to $25,000,000 initially and then subsequently increased to $35,000,000 (excluding over-allotments) due to strong investor demand.

    About Harvest One Cannabis Inc.

    Harvest One Cannabis Inc. (CVE:HVST) controls operations across the entire cannabis value chain through three business units, with Harvest One serving as the umbrella company over horticultural arm United Greeneries and medical arm Satipharm AG. Each business is strategically located in favourable jurisdictions with supportive regulatory frameworks in place. United Greeneries has received a Canadian medicinal cannabis cultivation licence, making Harvest One one of only a few companies globally with the capacity to commercially cultivate cannabis in a federally regulated environment.

    To view full copies of the Harvest One announcements, please visit:

    Andreas Gedeon
    Managing Director
    Phone: +1-250-713-6302

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    Byte Power Group Ltd (ASX:BPG) (or Company) is pleased to announce that its subsidiary, Byte Power Pty Ltd (BPPL), has entered into a development and services agreement (Agreement) with Noetic Synergy Sdn Bhd (Noetic) to develop and manage its cryptocurrency exchange platform (Cryptocurrency Exchange).

    As a consequence of recent events concerning the unauthorised dealing by Soar Labs Pte Ltd (Soar Labs) with property rightfully belonging to BPPL, among other things, it has become untenable for BPPL to work with Soar Labs and, as such, BPPL has notified Soar Labs that it will not be proceeding with the Soar Labs' proposal for the development of its Cryptocurrency Exchange.

    With the Agreement in place, Noetic replaces Soar Labs' candidature as BPPL's Cryptocurrency Exchange development solution provider.

    Noetic, incorporated since 2010, is involved in the business of providing enterprise-wide integrated e-business solutions and IT related Services. With multi-national corporate clients that includes premier property developers, financial institutions and large retail chains, Noetic's goal is to continue to innovate and to lead the industry - while always making sure that they are focused on solving the problems of the customers who rely on their software.

    Under the Agreement, Noetic will deliver all BPPL's functional and technical specifications for its Cryptocurrency Exchange. The services provided will consist of:

    - Cryptocurrency Exchange set up services;

    - Software implementation services;

    - Operational management services; and

    - IT outsourcing services.

    Noetic will host and maintain the software and hardware infrastructure, including administration and system maintenance to ensure performance and security standards are met. The proposals received from Soar Labs and Noetic provide the same outcome in delivering and operating the Cryptocurrency Exchange Solution as envisaged by the company. The projected cost for the development of the Cryptocurrency Exchange by Noetic is commercially more favourable and not expected to have a material negative impact on the Company's immediate cash reserves, as the payments are broken down into stages such as: set up, the first year, subsequent year, and on an ongoing annual basis. The payments have been negotiated to be made over a period of time, in a mixture of digital and ordinary currencies, and only at the completion of milestones. Noetic expects BPPL will be able to launch its Cryptocurrency Exchange by April 2018.

    Mr Alvin Phua, Chairman and CEO of BPG and Director of BPPL said: "With the emergence of new compliance requirements in the cryptocurrency field and the volatile market landscape, the Board has decided to work with a larger organisation with the depth and breadth of experience for enterprise solutions. We are pleased to partner with Noetic with the skills and infrastructure to develop and provide a turnkey solution."

    Noetic's CEO, Mr Ian Jones said: "There are increasing challenges for cryptoexchanges with increasing compliance requirements and security risks. As an enterprise web solution provider for the past 8 years for multinational companies including financial institutions, we are equipped to handle these challenges."

    Michael Wee
    Company Secretary
    Byte Power Group Limited
    T: +61-7-3620-1688

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    ApplyDirect (ASX:AD1) announced it has signed a managed services agreement with the Victorian government relating to the latter's whole-of-government careers portal. Under the engagement, ApplyDirect will redesign, build, host and maintain that careers portal and provide related digital marketing services.

    The announcement followed commitments received by the company from institutional and sophisticated investors during its $3.5 million capital-raising in mid-December.

    Analyst comment: this is an outstanding result for ApplyDirect, as we did not expect it to win another major government contract for some time. The new partnership, which augments the company's existing relationship with the NSW government, means that ApplyDirect now powers two of Australia's largest employers; combined, they represent over 800,000 employees, or nearly 50% of all Australian public-sector jobs.

    The result indicates, we believe, that larger organisations in Australia are recognising the benefits of controlling their own careers pages, rather than availing themselves of more traditional routes like job noticeboards and recruitment agencies.

    Further, ApplyDirect's contract with the Victoria government, combined with its current NSW government contract, creates more than 300 additional opportunities for the company within the individual departments and agencies (such as individual hospitals) of both governments, since they may also decide to control of their own job portals. And, while it won't happen overnight, we believe there will be a high conversion among these groups in coming years.

    Valuation: despite this excellent result for ApplyDirect, our valuation has decreased to $0.43/share (previously $0.58), due largely to increased dilution from the recent capital raising. We also rebalanced our sales forecasts for each business unit; however, that had little effect on our valuation, since increased revenue from the Victorian government contract was offset by the possibility of reduced sales to medium and small enterprises in the coming year. We will review our sales forecasts once half-yearly results are in.

    To view the video, please visit:

    ApplyDirect Ltd
    T: 1300 554 842
    The Sophisticated Investor

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    Mithril Resources Ltd (ASX:MTH) is pleased to advise that follow-up exploration activities at its 100%-owned high-grade nickel-cobalt Kurnalpi target (located approximately 70 kms east of Kalgoorlie, WA - see Figure 1 in link below) will commence next week.

    - EM geophysical surveying of the high-grade nickel-cobalt target to commence next week with drilling to follow.

    EM geophysical surveying will be undertaken initially with drilling (for which statutory approvals have been received) to follow once all geophysical results have been received.

    At Kurnalpi, historic drilling has intersected strong nickel-cobalt intercepts over an area 250 metres wide by 600 metres strike within weathered ultramafic rocks, including (ASX Announcement dated 12/12/17 and Figures 2 - 3 in link below);

    - 42m @ 1.25% nickel, 0.07% cobalt from 24 metres in KURC22 including 6m @ 1.78% nickel, 0.20% cobalt from 28 metres,

    - 10m @ 0.70% nickel, 0.11% cobalt from 30 metres in KURA38 including 3m @ 0.92% nickel, 0.21% cobalt from 34 metres,

    - 8m @ 0.58% nickel, 0.20% cobalt from 24 metres in KURA400,

    - 12m @ 0.76% nickel, 0.10% cobalt from 36 metres in KURA406, and

    - 19m @ 1.08% nickel, 0.07% cobalt from 33 metres in KURA42 including 6m @ 1.17% nickel, 0.11% cobalt from 35 metres.

    Maximum values from any one single sample are 2.04% nickel (2 metre composite sample in KURC22), 0.33% cobalt (4 metre composite sample in KURA400) and 0.28% copper (2 metre composite sample in KURC42).

    The presence of elevated copper may be indicative of nickel sulphide mineralisation within the target area.

    Mithril looks forward to providing further updates as the work progresses.

    To view figures, please visit:

    Mithril Resources Ltd
    David Hutton
    Managing Director
    T: +61-8-8132-8800
    F: +61-8-8132-8899

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    Big Un Limited (ASX:BIG) (or 'the Company') is pleased to announce the release of its 4C Cash Receipts from Customers results for the quarter ended 31 December 2017 (Q2 FY18). BIG achieved cash receipts from customers for the quarter of $22.5m. This represents an increase from the prior year quarter Q2 FY17 of 459% and an increase from the prior quarter Q1 FY18 of 50%.

    The results include $2.2m in cash receipts in relation to US customers and $2.1m generated by BHA Media and the newly acquired FAB Media.


    Commenting on the outlook for the business Richard Evertz says "The underlying growth from pillar one in Australia remains strong, and our US results underline further enormous growth opportunity for our unique business model. We are currently executing a controlled US expansion plan and it is gratifying to see early US results are exceeding our expectations. We are also pleased to observe the continued growth in Australian revenue which is further supplemented by cash receipts from BHA and FAB Media subsidiaries following BIG's successful collaboration and integration with traditional media services. The outlook for BIG is exciting and extremely positive."

    To view figures, please visit:

    Corporate Enquiries
    Sonia Thurston
    Communications Director

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    NEWSCYCLE Solutions ("Newscycle"), a leading provider of software technologies for the global media industry, today announced the acquisition of Acquire Media, a Roseland, NJ company that provides content services to the financial services, Fortune 500, news media and digital publishing industries.

    Acquire Media delivers high quality content from 18,500 sources to some of the world's most respected businesses and financial services communities. Sources include top press release agencies, major newswires, financial wires and media companies. Through the company's solutions, news and other time-sensitive content is aggregated, tagged and distributed with near-zero latency and pinpoint filtering. Founded in 2001 and based in Roseland, NJ with offices in Burlington (MA), Salt Lake City (UT) and London (UK), the Acquire Media development, editorial and business operations teams will work collaboratively with the Newscycle teams in Bloomington, MN and its regional offices to further expand the suite of software products and digital content services offered by the combined organization.

    Acquire Media's customers will continue to receive the same levels of reliability and 24/7 service for all products while also gaining the benefits of Newscycle's global resources and experience.

    "Newscycle is committed to expanding and supporting the Acquire Media product suite," said Brad Scher, Acquire Media CEO. "This acquisition will allow Newscycle and Acquire Media to develop synergies between the content services that Acquire provides and the Newscycle software platforms that manage transformative digital workflows -online, on mobile, through OTT and via IoT devices."

    Acquire Media's digital software suite is notable for its quality, credibility, wide variety of news sources and its rich metadata tagging. "Acquire Media provides a source of trusted 'real news' content," said Scott Roessler, Newscycle President. "The metadata tagging possible through its software is a valuable addition to our digital product portfolio and a compelling offering that our customers will now have the opportunity to integrate into their editorial operations."

    The transaction closed on December 29, 2017. Financial terms have not been disclosed.

    About Acquire Media

    Acquire Media is an advanced technology company devoted to delivering news and multimedia with guaranteed reliability in formats that make content instantly usable and searchable. The company provides syndication and content services to enterprise business customers in the news media, digital publishing, financial services and corporate communities delivering over 650,000 news articles daily.

    Note: ABN Newswire is a content provider to Acquire Media for financial news from publicly listed companies around the world.

    Media Contact:
    Peter Marsh
    NEWSCYCLE Solutions
    VP Marketing

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    Sayona Mining Limited (ASX:SYA) (OTCMKTS:DMNXF) ("Sayona" or the "Company") is pleased to provide shareholders an update of activities planned for 2018.

    In 2017, the Company made substantial progress advancing Authier to the Definitive Feasibility Study ("DFS") stage. This included completing two resource and reserve upgrades, optimisation of the process flow sheet, completion of environmental field studies, advancing mining lease permitting, and completion of an Optimised Pre- Feasibility Study ("PFS"). The PFS demonstrated the opportunity to create substantial long-term sustainable shareholder value at a low capital cost - a pre-tax NPV8 of C$221m (AUD$227m) based on a capital expenditure of C$65 million.

    In Western Australia, the Company has built a substantial portfolio of lithium prospective tenements totalling 2,000 km2, in the spodumene-rich, Pilgangoora district. A new pegmatite field containing spodumene was discovered at Mallina and will be the primary focus of exploration activities during 2018.

    The lithium market ended 2017 very strongly, with demand driving robust spot and contract pricing. Galaxy Lithium announced extensions to contracts with Chinese buyers for the next five years at pricing for 2018 at similar pricing to the 2017 contracts (between US$840 to US$905/t for 6% Li20 concentrate).

    Authier lithium project, Canada

    The Company's primary objective in early 2018 is to complete the studies required to commence the development of the project. Authier is a near-term development project and cash-flow generation opportunity. The Company believes it will create significant share value-uplift potential for shareholders as the project is advanced towards development.

    The Phase 3 drilling program will re-commence in the second week of January. The objective of the drilling is to expand and optimise, the resource and reserve position for incorporation into the DFS. The program will target extending Authier mineralisation in the east and west at shallow levels, and at Authier North where a small JORC Mineral Resources was defined as part of the Optimised Pre-Feasibility Study.

    A pilot metallurgy program will commence in January utilising more than five tonnes of diamond drill core. Data from the pilot program will be incorporated into the engineering and design of the process plant, and concentrate produced will be used for marketing and downstream testing purposes.

    BBA is making excellent progress on the DFS which is expected to be completed in the second quarter 2018. BBA have extensive experience in the Canadian mining industry and have been actively involved in Feasibility Studies for Quebec lithium projects including, Nemaska and the North American Lithium project.

    All of the base-line environmental field studies have been completed. Permitting activities including social and first nation consultation are underway. On completion of the DFS, the Company will lodge the final documentation required to secure a Mining Lease. Subject to the outcomes of the permitting and financing, the Company envisages commencing construction in the second half of 2018 and first production late in 2019.

    The Company is actively engaged with a number of potential off-takers and financiers whilst also receiving strong interest from Chinese concentrate converters interested in purchasing Authier concentrates or value-adding in country. The Company recently announced a Memorandum of Understanding ("MOU") with Huan Changuan Lico Co Ltd, a subsidiary of Fortune 500 Company, Minmetals Group. The MOU paves the way for advancing discussions to facilitate a development alliance exploring marketing, technical and financial opportunities for the Authier project, including, purchasing up to 100,000 tonnes of spodumene concentrate per annum. In addition, the Company is focused on financing Authier in way that minimises dilution to shareholders.

    Western Australian Lithium

    The Company has built a large portfolio of lithium tenements in Western Australia and is excited by the prospectivity of the Mallina project where new spodumene bearing pegmatites have been recently identified. Further exploration and drilling is required to better understand the mineralisation within the complex rare metal pegmatites. Mallina is a very prospective province in close proximity to other major spodumene deposits including Pilgangoora and Wodgina.

    Growth Opportunities

    The Company is examining a number of new growth opportunities in the lithium sector which it believes have the potential to enhance the value of the Company. These include new projects and value-adding of existing projects including the Authier downstream project which has demonstrated very robust economics.

    We believe 2018 will be a transformative year for Sayona as is evolves from the exploration-stage to the development-stage at Authier. The Company will also continue to develop a pipeline of new opportunities by leveraging its lithium exploration and development experience, and expertise.

    Corey Nolan
    Chief Executive Officer
    Phone: +61-7-3369-7058

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    The world's largest monosodium glutamate ("MSG") and xanthan gum producer and a major supplier for a series of bio-fermentation products, Fufeng Group Limited ("Fufeng" or the "Company", together with its subsidiaries, the "Group") (HKG:0546) and Evonik entered into a cooperation agreement for the production of ThreAMINO(R) (L-Threonine). Fufeng will manufacture ThreAMINO(R) on behalf of Evonik. The strategic partnership further strengthens Fufeng's market leadership in threonine, which is the new growth driver of Fufeng. The collaboration enables Evonik to ensure a reliable supply of L-Threonine worldwide.

    "This collaboration is a good example of how two strong partners join forces. By working together, we are not only manufacturing a major animal feed amino acid, but also building the foundation for a long lasting and trusting strategic partnership." says Zhao Qiang, CEO of Fufeng.

    "Our strategy reflects the recent dynamics of the feed amino acids market and helps Evonik to further optimize its bio amino acid business. The agreement with Fufeng enables us to provide our full portfolio of amino acids to all of our customers. This way, we are supporting our position in Western and Asian markets and transforming our business model by focusing on our value creating strengths in sales, services and technology. For all customers, supply security, product quality and personal contacts remain the same," says Dr. Emmanuel Auer, Head of the Animal Nutrition Business Line at Evonik.

    The Junan-based Fufeng Group operates several large-scale production facilities in Northern China and counts as one of the world's largest producer of starch-based food and feed ingredients with a strong record of manufacturing fermentative feed additives. The collaboration with Evonik enables Fufeng to assume a leading role in supplying amino acids.

    L-Threonine, marketed as ThreAMINO(R) by Evonik, is an essential amino acid that the body cannot produce itself. It must therefore be taken up by the animals with the feed. An optimal threonine level improves feed intake, weight gain and nutritional value of the feed. In contrast, nitrogen excretion decreases because the crude protein content of the feed is balanced according to the nutrient requirements of the animals.

    Evonik has over 60 years of experience in the production of essential amino acids and provides solutions for efficient and sustainable animal nutrition to customers in over one hundred countries around the world. By expanding its range of innovative feed additives beyond amino acids, Evonik wants to make an even greater contribution to the efficiency of animal feed and create additional value for its customers. Evonik's animal nutrition products and services play a key role worldwide in producing healthy and affordable food while conserving natural resources and reducing its environmental footprint.

    Investors and media enquiries
    Mr. Eric Yip
    Vision Asia Consulting Group Limited
    Mobile: 852-51186009
    Office tel: 852-39066439 / Fax: 852-21809686

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    Mustang Resources Limited (Company or Mustang) (ASX:MUS) (OTCMKTS:GGPLF) is pleased to advise that it has received the proceeds of the insurance claim relating to the rubies and corundum stolen in the robbery at its Montepuez Ruby Project in September 2017 (see ASX release dated 26 September 2017).

    Following an assessment by Lloyds Underwriters, Mustang has received payment of A$423,650 in full and final settlement of the claim.

    Since the incident, Mustang has upgraded its security measures and general controls on site.

    Mustang Directors would like to express appreciation to the members of its on-site team at Montepuez for the efforts made to plan and implement the revised security measures and for their commitment to the project.

    Media & Investor Relations:
    Paul Armstrong
    T: +61-8-9388-1474

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