Proactive - Interviews for investors

Royal Helium CEO Andrew Davidson joined Steve Darling from Proactive to announce the successful completion of a bought deal public offering that raised $6 million. The offering was conducted in conjunction with underwriting firms Canaccord Genuity, Cormark Securities, and Eight Capital Corp.

Davidson detailed that the proceeds are designated for a robust exploration and development agenda. This includes drilling potential new wells at the company’s 40-mile site in Alberta and enhancing the development of existing wells in Saskatchewan. The capital will also bolster operational scaling and improve working capital to facilitate the company's ongoing progress toward self-funding from operational outputs.

He highlighted the strategic importance of this capital injection, noting it supports Royal Helium's expansion from managing a single asset to multiple assets. Davidson emphasized the critical nature of this funding in ensuring the company does not miss another exploration season, thereby maintaining momentum in its growth and development strategy.

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Electric Royalties CEO Brendan Yurik joined Steve Darling from Proactive to share details the company has announced the successful closure of the company's previously disclosed transaction to acquire a comprehensive portfolio comprising 18 royalty agreements and 32 lithium properties situated in Ontario.

Yurik elaborated on the portfolio's composition, highlighting its inclusion of 18 royalties and 32 lithium properties. Notably, 31 of the 32 properties are presently under exploration by third parties pursuant to option agreements. Subject to the fulfillment of option payments over the next two and a half years and the exercise of options, each property would transition into royalty interests for Electric Royalties. The company would retain ownership of any properties not transferred to optionees, with the flexibility to re-option, sell, or relinquish such properties. These properties encompass promising land situated on geological trends similar to, and surrounding, significant lithium discoveries in Ontario. Moreover, six out of 24 developed lithium prospects in Ontario with documented reserves or resources are proximate to these properties.

Electric Royalties' acquisition underscores its strategic positioning within the burgeoning lithium sector, capitalizing on the potential of Ontario's lithium resources and reinforcing its commitment to expanding its royalty portfolio in key mining jurisdictions.

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Condor Resources CEO Chris Buncic joined Steve Darling from Proactive to announce the reappointment of Dr. Quinton Hennigh to the company’s board of directors. Dr. Hennigh, who has previously served on the board in 2021, brings over 30 years of experience as a globally renowned exploration geologist specializing in precious metals.

Buncic highlighted Dr. Hennigh’s extensive background, which began after earning his PhD in Geology/Geochemistry from the Colorado School of Mines. His career includes significant roles at major gold mining firms such as Homestake Mining (now part of Barrick Gold Corp.), Newcrest Mining, and Newmont Corp. Dr. Hennigh is also the founder of Novo Resources Corp, where he currently serves as co-Chairman, and is the CEO of San Cristobal Mining, a private silver mining company.

Dr. Hennigh has been instrumental in several major global mining discoveries, including First Mining Gold's Springpole gold deposit in Ontario, Kirkland Lake Gold's Fosterville mine in Australia, Rattlesnake Hills in Wyoming, and Lion One's Tuvatu project in Fiji, among others. His deep understanding of the sector and his previous involvement with Condor Resources make him a valuable asset to the board. Buncic also noted that Dr. Hennigh is familiar with the Pucamayo Project and has continuously monitored the company's progress, suggesting a strong alignment with the company's strategic goals and future initiatives.

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Robert Kaul, CEO of Cloud DX, discussed with Steve Darling from Proactive the new Remote Patient Monitoring Agreement for Cloud DX RPM Services, which has been secured with a Canadian Provincial Health Authority. This agreement expands Cloud DX's provision of Connected Health remote patient monitoring products and services across Canada, now including contracts with Alberta, Yukon, Prince Edward Island, and a Master Services Agreement with Mohawk Medbuy—the country's largest hospital procurement agency.

Kaul shared with Proactive that the contract spans 36 months and includes options for two 12-month extensions. Each subscription under these contracts is projected to average $1,520 CAD annually, covering the costs associated with the Connected Health Kit, which includes patient-prescribed hardware, software, and connectivity solutions.

Over the four months leading up to April 30, 2024, Cloud DX has announced a significant growth milestone, securing 26 new contracts. These agreements span across hospitals, paramedic services, U.S. clinics, and include two Canadian provinces, marking a significant inflection point in the company’s expansion and presence in the healthcare industry.

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Tribe Property Technologies CEO Joseph Nakhla joined Steve Darling from Proactive to announce the company's financial results for the fiscal year and fourth quarter ended December 31, 2023.

Nakhla began by highlighting the company's revenue growth, with total revenue reaching $19.39 million, marking an 8.8% increase compared to the previous fiscal year. This growth was attributed to various factors, including an expansion in software and service fees driven by an increased number of properties on the Tribe platform, higher financial services revenue associated with banking partnerships, software licensing fees, and the acquisition of Meritus.

Additionally, Nakhla noted a significant improvement in gross profit, which amounted to $6.63 million for fiscal 2023 compared to $5.75 million in the previous year. This increase in gross profit and gross profit percentage was attributed to the addition of service contracts through organic growth, acquisitions, and restructuring efforts.

Adjusted EBITDA for fiscal 2023 showed improvement as well, with an outflow of $6.56 million, representing a 19.8% improvement compared to the previous fiscal year. This improvement was driven by increased revenue and cost-cutting initiatives.

Looking ahead to 2024, Nakhla expressed optimism about the company's prospects for improved revenue growth, profitability, and expanding margins. Tribe aims to achieve this through various strategies, including increasing monthly recurring revenue by securing new property management agreements, onboarding more communities onto the Tribe platform, winning new software licensing agreements, and boosting digital services revenue. The company also has a robust pipeline of profitable acquisition opportunities.

Furthermore, Tribe remains committed to investing in its software platform and adding functionality to its suite of products to maintain its industry leadership position and continue providing innovative solutions to its clients.

With its strong financial performance and strategic initiatives in place, Tribe Property Technologies is well-positioned to capitalize on growth opportunities in the property management sector and drive value for its shareholders.

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First Phosphate Corp CEO John Passalacqua joined Steve Darling from Proactive to announce that the company has signed a partially binding letter of intent with Rapid Building Systems of Australia. This agreement marks the initial steps toward establishing a Rapidwall Manufacturing Plant in the Saguenay-Lac-St-Jean Region of Quebec. Once the terms are finalized, First Phosphate will obtain exclusive sales and marketing rights in Canada for RBS's Rapidwall and Rapidseal products.

Passalacqua highlighted the strategic benefits of the Rapidwall Manufacturing System, explaining that it will enable First Phosphate to convert clean phosphogypsum, a byproduct from their upcoming purified phosphoric acid plant, into building panels. These panels are intended to support housing projects, particularly in rural and indigenous communities across North America.

Rapidwall consists of prefabricated load-bearing wall panels, crafted through a moulding process that incorporates glass-fibre reinforced, water-resistant gypsum plaster. This makes them suitable for a wide range of applications, from single-family homes to multi-storey residential, commercial, and industrial developments. This initiative not only aims to enhance housing solutions but also underscores First Phosphate’s commitment to sustainable building practices.

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Nextech3D.ai CEO Evan Gappelberg joined Steve Darling from Proactive to announce a substantial new order that the company has secured. In May, Nextech3D.ai received an order for over 1,000 3D AI models and more than 4,000 3D AI digital photos, with deliveries scheduled to start in June. The order, valued in the mid-six figures, underscores the company's role as a pioneer in AI technologies and its capability in creating high-resolution 3D models and renderings for e-commerce enterprises globally.

Gappelberg highlighted that this large enterprise customer has seen significant return on investment from the use of 3D models in e-commerce and is rapidly increasing its orders. Nextech3D.ai is currently engaged in direct collaborations with Amazon and other major e-commerce retailers, such as Kohl’s. The company has also introduced "one-click integration" with major e-commerce platforms like Shopify, BigCommerce, and WooCommerce, which have incorporated 3D/AR features and are setting new standards for Web 3.0 in e-commerce.

Looking forward, Nextech3D.ai is optimistic about its profitability prospects for 2024, anticipating scaling revenue with an 80% profit margin as operating expenses decrease, thanks to its investment in patented AI technologies. The company's strategic move to Hyderabad, India, is also seen as a key step in aligning with its commitment to delivering cutting-edge 3D modeling and augmented reality solutions.

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Light Science Technologies Holdings PLC (AIM:LST) reported a record year in 2023 with CEO Simon Deacon highlighting significant achievements in an interview with Proactive's Stephen Gunnion.

The company implemented a strategic plan focused on growth and profitability, exceeding expectations in both areas. Notably, its Controlled Environment Agriculture (CEA) segment and Contract Electronics Manufacturing (CEM) contributed robustly to revenue increases. The company achieved a gross margin of 23.4% and overall revenue growth of 13.8% to £9.3 million.

Deacon also discussed the impact of strategic acquisitions, including Tomtech, which enhanced its offerings in controlled environment agriculture, integrating systems for vertical farms, polytunnels, and glasshouses. Another notable acquisition was Injecta Fire Barrier, a key asset in the passive fire protection market, poised for growth due to regulatory changes spurred by the Fire Safety Act of 2021.

Additionally, the CEO outlined the use of a £1.45 million fundraise to support product development, acquisitions, and extend its cash runway.

Looking forward, Deacon detailed milestones for 2024, including a significant contract in the sports entertainment electronics segment and anticipated revenue growth in passive fire protection. Overall, Deacon remains optimistic about sustaining momentum and achieving further growth.

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Seeing Machines Ltd CEO Paul McGlone joins Proactive's Stephen Gunnion with an update on the company's progress and key developments.

McGlone highlighted the expansion with an existing US customer and a tier 1 supplier, driven by increasing regulatory requirements in Europe, which signifies a significant development for the company. This expansion includes new technology integrations and a stronger foothold in the European market, alongside additional volume in China.

Further, McGlone discussed the company's recent performance following their third-quarter results, noting a return to normal production levels and the launch of a new major vehicle program. This contributed to Seeing Machines producing over 300,000 vehicles in the quarter, supporting a year-on-year growth rate of 100%. This performance reassured investors of the company's growth trajectory.

Additionally, McGlone outlined the launch of their biggest ever production award with a significant European OEM, which includes a comprehensive interior sensing capability for driver and occupant monitoring. This project is seen as a major technical achievement and is expected to notably increase growth rates.

McGlone also touched on the aftermarket segment, particularly their Guardian Connections system for trucks and buses, which showed consistent growth and is set to expand further with the rollout of their third-generation product.

Lastly, McGlone reaffirmed the company's financial targets for 2024 and their aim to achieve cash break-even in 2025, indicating strong momentum across various business areas, including automotive, aviation, and fleet services.

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The FTSE 100 ticked up to yet another record of 8,350 as the market opened.

Mid-caps were in the spotlight on Wednesday as Wetherspoon’s third-quarter update that profit should sit at the top end of expectations saw shares jump early on.

Boohoo faced a blow in the meantime after the online retailer reported wider losses and piling up debt for its financial year.

Direct Line also fell following its first-quarter report, which showed higher total written and motor premiums but fewer in-force policies.

Among FTSE 100 companies, Informa topped the early risers after hiking its share buyback program on expectations results would hit the top-end of guidance.

And finally, technical instruments maker Renishaw dipped as revenue guidance was lowered following a fall in earnings over the first nine months of the year.

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