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2023-07-28

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Aquis Stock Exchange Weekly Highlights 28/7/23

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July 28, 2023

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KR1 plc announced that the Company has invested a total of US$300,000 into Side Protocol (“SIDE”). The investment took place as part of Side Protocol’s pre-seed funding round, with participation from other prominent digital asset investors. Side Protocol is a distributed mesh liquidity system that utilises innovative inter-blockchain asset exchange application protocols. Unlike liquidity hubs, Side Protocol aims to decentralise liquidity between diverse blockchain networks in a bridgeless manner while maintaining interconnectivity.
George McDonaugh, Managing Director and Co-Founder of KR1: “Side Protocol has ambitious plans when it comes to leading the way for decentralised finance. Thanks to its innovative mesh liquidity network architecture, Side Protocol has seen significant interest recently and we are excited to support the team in this next chapter.” Read more…
Ananda Developments announced the launch of its first cannabinoid medicines following the signing of the final manufacturing agreement with MRX's contract manufacturing organisation (CMO). The company announced that both MRX1 and MRX2 are now available for Specialist doctors to prescribe to their patients.
Highlights:
  • Ananda's wholly owned subsidiary MRX Medical Limited (MRX) has launched its first two cannabinoid medicines MRX1 and MRX2 on to the unlicenced medicinal products (specials) market
  • The oils will be listed on the formularies (list of prescribable medicines) of three private pain and medical cannabis prescribing clinics in the UK
  • MRX1 has been selected to be used in the two Phase II, double blind, RCTs (Randomised Control Trials) run by researchers at the university of Edinburgh
    Ananda's CEO, Melissa Sturgess, commented: "We are determined to win NHS support for our cannabinoid medicines with our rigorous approach to formulation development, clinical trials and traditional pharmaceutical data collection. We believe that MRX is in the strongest position to do exactly that. With NHS endorsement we can bring these medicines to the millions of people who need them and deliver revenues to Ananda." Read more…
Invinity Energy Systems plc announced the sale of a 0.2 MWh Invinity VS3 flow battery system to VSUN Energy ("VSUN"), a wholly owned subsidiary of Australian Vanadium Limited (ASX: AVL), for use by leading Australian power provider Horizon Power ("Horizon"). The microgrid project will see Horizon, a state government owned energy utility company responsible for generating, procuring, distributing and retailing electricity to residential, industrial and commercial customers across Western Australia, evaluate the role that Invinity's vanadium flow batteries can play in reducing fossil fuel consumption for distributed electricity networks. Horizon owns and operates 34 microgrids, serving over 100,000 people and more than 10,000 businesses across Western Australia. Read more…
Oberon Investments Group plc announced its results for the year ended 31 March 2023.
Summary
  • The company said it had raised £5.6m since March 2022 to take advantage of the weak financial markets to:
  • Fund the acquisition expenses of Logic and Nexus (post period end);
  • Selectively hire strong teams that were becoming available;
  • Undertake the consolidation of our various legacy systems to provide cost savings in future years;
  • Build up compliance and operations infrastructure to position the group for future growth.
  • While there was a one-off higher EBITDA loss for the period, following this program, and the various increases in client numbers and Investment Management teams, the company says it is now well placed to experience growth and expect revenue to increase by over 60% in 2023/24, and further in 2024/25.
  • A research note on the group has been published and can be found here. Read more...
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