Monday, March 28, 2016

Intermap Technologies Corporation - IMP.t

Intermap Technologies Corporation - IMP.t is a leading provider of Location-Based Information (LBI), setting the industry standard for creating high-resolution 3D digital models of the earth’s surface.





On March 3, 2016 the company released NEWS

Intermap Technologies Corporation (“Intermap” or the “Company”), (TSX: IMP), (ITMSF: BB), a leading provider of geospatial solutions, today announced that it has entered into an agreement with its senior lender, pursuant to which two of its outstanding promissory notes, which became due in February 2016, were restructured and consolidated into a new promissory note that bears interest at 15% per annum, with a maturity date of August 24, 2016.
The material terms of the debt restructuring are as follows (all $ amounts shown are in USD):
  • Promissory note dated February 23, 2015 (“First Note”), in the principal amount of $1,500,000, bearing interest at 25% per annum ($375,000 in accrued interest), was cancelled.
  • Promissory note dated February 24, 2015 (“Second Note”), in the principal amount of $5,800,000, bearing interest at 25% per annum, ($1,450,000 in accrued interest), was cancelled.
  • The principal amounts and accrued interest due under the First Note and the Second Note were restructured and consolidated into a new note dated March 2, 2016 (the “Restructured Note”), effective as of February 24, 2016, in the principal amount of $9,125,000, bearing interest at 15% per annum, with a maturity date of August 24, 2016.
  • The Restructured Note is secured by way of a first priority lien on all of the assets of the Company.
"We are pleased to report the restructuring of a material portion of the Company’s outstanding debt," said Todd Oseth, President and CEO of Intermap. "Coincident with SDI work preparations and other business developments, we continue to work towards the simplification of the Company’s capital structure."
About Intermap
Headquartered in Denver, Colorado, Intermap is a leading provider of geospatial solutions on demand with its secure, cloud-based Orion Platform®. Through its powerful suite of software applications and proprietary development of contiguous databases that fuse volumes of geospatial data into a single source, the Orion Platform is able to provide location-based solutions for customers in diverse markets around the world. For additional information, please visit www.intermap.com.
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http://pennystockjournal.blogspot.com/2016/03/intermap-technologies-corporation-impt.html

Niko Resources Ltd.- NKO.t

Niko Resources Ltd.- NKO.t has operations in India, Bangladesh, Indonesia, Kurdistan Iraq, Madagascar, Pakistan and Trinidad.

Niko is focused on value generation in the D6 Block in India.





On March 24, 2015 the company released News

Niko Resources Ltd. (“Niko” or the “Company”)(TSX – “NKO”) announces that, as contemplated in its press release of March 14, 2016, it will commence a solicitation of consents (the “Consent Solicitation”) to amend the trust indenture (the “Indenture”) governing its 7% senior unsecured convertible notes due December 31, 2017 (the “Notes”).
The terms and conditions of the Consent Solicitation will be set out in the consent solicitation statement of Niko dated March 29, 2016 (the “Consent Solicitation Statement”) which will be mailed to holders of the Notes (the “Noteholders”) on or about April 15, 2016.

Consent Solicitation
The purpose of the Consent Solicitation is to obtain approval for proposed amendments to the Indenture (the “Indenture Amendments”) as outlined below under “Terms of Indenture Amendments”. The Indenture Amendments require the consent of Noteholders holding not less than 66 2/3% of the principal amount of the outstanding Notes (the “Requisite Consents”). As disclosed on March 14, 2016, Niko executed a support agreement with institutional lenders (the “Lenders”) holding approximately 85% of the senior term loan facilities (the “Term Loan”) and a support agreement with Noteholders (the “Consenting Noteholders”) holding approximately 60% of the Notes, each in support of the Company’s strategic plan of maintaining its core assets until the value of these assets can be enhanced for the benefit of the Company’s stakeholders. The Consenting Noteholders have agreed to execute consents approving of the Indenture Amendments.












http://pennystockjournal.blogspot.com/2016/03/niko-resources-ltd-nkot.html



Friday, March 18, 2016

Eastmain Resources Inc. - ER.t

Eastmain Resources Inc. - ER.t is advancing the flagship Eau Claire gold deposit, located within the James Bay District of Quebec.

In October Eastmain was presented with the “Discovery of the Year 2015” award by the Association L’Exploration Mini√®re du Quebec (“AEMQ”).






On February 4, 2016 the company released News

Eastmain Resources Inc. (“Eastmain” or the “Company”- TSX: ER) is pleased to provide an update on final assay results from the 2015 exploration program completed at its wholly-owned Clearwater Project, located in James Bay, Quebec. The 2015 program was successful in intersecting high-grade gold in drill intercepts lateral to the current resource. Infill core sampling of historical holes also provided positive results within the proposed 450 West Zone pit, and trench sampling two kilometres east of the Eau Claire gold deposit has outlined another potential pit-constrained resource target.

“We are very encouraged with the results of the 2015 exploration program. Definition drilling within the Eau Claire gold deposit, as exemplified by hole 577, continues to intersect both excellent grade and thicknesses lateral to the current Measured and Indicated mineral resources. Hundreds of anomalous rock samples have also defined drill-ready, near-surface targets two kilometres east of Eau Claire, while in-fill sampling of historical core will add a number of significant high-grade intersections to the 450 West Zone pit-constrained resource,” stated Donald Robinson, Eastmain’s President and CEO.

The 2015 drilling campaign focused on extending the Measured and Indicated gold resources in the Eau Claire gold deposit down-plunge and laterally to the east. Based on a 2.5 g/t Au cut-off grade, 26 gold-bearing composite intervals defined during the program have an average grade of 7.76 grams gold per tonne (from 2.54 to 25.6 g/t Au) over an average width of 2.73 metres, (from 2.0 to 6.0 metres), with 11 of those composites averaging 13.87 g/t gold over an average of 3.09 metres. Drill hole ER15-577 intersected a six-metre-wide composite interval grading 15.4 grams gold per tonne at a depth down-hole of 289.0 metres, including a half-metre-wide interval grading 153 grams gold per tonne (see website for assay data).

Five drill holes, with composite intervals extending down-plunge beyond the current limits of Eau Claire Measured and Indicated mineral resources, will clearly contribute to future mineral resource estimates. In addition, ER15-566 indicates that there is still potential to expand the deposit laterally to the east (see website for Eau Claire Longitudinal View).

A phase one $2.5 million exploration budget has been recommended at Clearwater to include completion of a preliminary economic assessment, definition drilling to expand Measured and Indicated mineral resources, and drill testing of near-surface resource targets located east of Eau Claire along a key structural corridor.
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http://pennystockjournal.blogspot.com/2016/03/eastmain-resources-inc-ert.htmll