FFI subscribed C$3 mln for its stake as part of a C$43.65 mln fundraise and Lorne Abony, its chief executive, has joined the Nuuvera board.
Nuuvera will use the money to apply for more producer and dealer licences in Canada, acquisitions and brand development.
“Nuuvera also intends to seek to develop a state-of-the-art production facility in Canada and is in late stage discussions to receive a very significant government backed incentive program."
Shares in FastForward rose 30% to 13.35p.
The company told investors that the Bureau of Land Management has accepted the environmental assessment study that supports its application for a permit to carry out the survey.
The temporary power provider saw its post-exceptional pre-tax profits fall to £172mln, down from £226mln a year earlier.
12.15pm ...Force is with Tandem Group as toy stalwarts star
Stalwart toys such as Batman, Disney Princess, My Little Pony, Paw Patrol, Shopkins and Trolls and 'evergreen' licences such as Peppa Pig, Star Wars and Thomas & Friends all did the business, while Tandem’s own brands Kickmaster and Hedstrom, also did well.
Profitability for the year ended 31 December 2016 for sports, leisure and toys is expected to be significantly ahead of the previous year, the company added, although bikes, which contain the Claud Butler and Dawes brands, is still in the red.
“We remain confident, despite a degree of macro-economic uncertainty, that the Group will show increased profitability in 2017, “ said Steve Dawes, chief executive. Shares rose 21% to 124p.
Amur Minerals PLC (LON:AMC) tumbled 14% to 7.69p as it announced another 15,000m of drilling at its Kun-Manie nickel prospect in Russia. The drill programme is to develop more targets while it carries out engineering and design at Maly Kurumkon / Flangovy , which is likely to be the first deposit into production.
An Independent Data Monitoring Committee (IDMC) made the decision, with the company having no sight of the data received so far.
The drug, BGS-649, is being developed as a first-line therapy for the treatment of obese men suffering from HH.
The trial currently underway is a Phase 2b clinical study in 268 HH patients with a body mass index (BMI) of more than 30. This study compares three doses of BGS-649 with placebo and measures both safety and indications of efficacy.
Data on 93 patients who had completed at least one month's treatment was considered by the IDMC,
In addition to safety, the efficacy analysis assessed if each dose was likely to normalise testosterone in at least 75% of patients, the primary endpoint, over the six months course of treatment.
Denise Scots-Knight, Mereo’s chief executive, said she was delighted with the recommendation. The headline results are due in the second half of the year.
Hypogonadotropic hypogonadism (HH) results from inadequate levels of testosterone. There are approximately six million cases of HH in obese men in the US and approximately four million cases in Europe.
Shares rose 7.5% to 309p.
9.15am ...Mountfield Group buoyed by resurgent City building
Connaught Access Flooring did especially well, Andy Collins, chief executive said, with two new contracts in the City worth £3.7mln also making for an ‘extremely strong’ start to this year. That followed completion last year of a £6mln contract in the Square Mile.
Mountfield Building has also started the year with a good order book while a new strategy of focusing on low risk contracts is paying off said Collins.
“The problems it faced in past years are now behind it as MBGs business has become more profitable and CAF continues to develop on the basis of strong sector demand."
Shares leapt 55% to 1.59p.
The e-commerce enabler said it has entered into final negotiations with the electronics group for a multiple six figure on-boarding programme across three territories.
Shares rose 109% to 14.40p.
The company had hoped to book the deal in its 2016 results, but the revenue from the contract will now be recognised in the first quarter of the current year.
Proactive news headlines
BATM Advanced Communications Limited (LON:BVC) has developed the world’s first mobile agri-waste treatment unit and landed its first customer for the product.
Top-level domain specialist CentralNic Group PLC’s (LON:CNIC) revenues more than doubled last year and underlying earnings increased 65%.
Haydale Graphene Industries PLC has received a second payment of £160,000 from its tie-up with New York-based tech investor Everpower.