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Giant Oil & Gas Inc. (OTCBB: GGSIF)
Up 14.29% on Monday
Detailed quote: http://www.beaconequityresearch.com/GGSIF
November 26, 2007 - Giant Oil & Gas Announces Plans to Initiate 3D Seismic on Highvale Project
Giant Oil & Gas Inc. (OTCBB:GGSIF) is pleased to announce that it has engaged a Calgary-based firm to assist in the permitting and execution of a 3D Seismic program on its 100%-owned Highvale Project.
Our Highvale Project is located in the Tomahawk/Highvale area of west central
"3D seismic is an essential tool in identifying targets in the Nisku interior patch reef oil trend, and we are confident that our 100%-owned Highvale Project gives us a significant presence in this highly exciting oil and gas play. We will be releasing information further to this in the coming weeks," said Mr. Rob Sandhu, president.
Biotech Holdings (OTCBB: BIOHF)
Up 14.29% on Monday
Detailed quote: http://www.beaconequityresearch.com/BIOHF
November 26, 2007 - Biotech Adds
Biotech Holdings (the "Company", OTC BB: BIOHF.OB) reports that it has signed an agreement (the "Agreement") with a private company (the "UAE Distributor"), pursuant to which, for a period of three years with an option to renew, the UAE Distributor will have an exclusive right to market and distribute Sucanon Type II Diabetes drug ("Sucanon") in the United Arab Emirates including Dubai.
Pursuant to the agreement, the UAE distributor will have the option of receiving Sucanon either in pre-mix form from
The
Neurologix, Inc. (OTCBB: NRGX)
Up 13.76% on Monday
Detailed quote: http://www.beaconequityresearch.com/NRGX
November 26, 2007 - Neurologix Completes $15 Million Private Placement
Neurologix, Inc. (OTCBB:NRGX), a biotech company engaged in the research and development of innovative gene therapies for the brain and central nervous system, announced today that it completed a private placement of $15 million of its newly created Series D Convertible Preferred Stock (the "Series D Stock") at a price of $35.00 per share. Each share of Series D Stock is convertible into approximately 30.17 shares of common stock.
The purchasers in the transaction include previous investor, General Electric Pension Trust, and new investor, Corriente Master Fund, LP. In addition, the Company issued warrants to purchase approximately 3,232,758 shares of its common stock at an exercise price of $1.39 per share. Holders of shares of the Company's Series C Preferred Stock (the "Series C Stock"), who participated in this transaction, had their shares automatically converted into shares of Series D Stock and additional shares of Series C Stock. The proceeds from the transaction, net of expenses, will be used to finance its Phase II clinical trial for the treatment of Parkinson's disease, its Phase I clinical trial for the treatment of epilepsy, and for corporate purposes.
"We are pleased that these elite financial institutions have chosen to invest in Neurologix as we advance the development of our novel gene transfer approach to the treatment of serious central nervous system disorders," said John Mordock, Neurologix President and Chief Executive Officer. "This is the latest in a series of important milestones the Company has achieved in 2007, which also included the publication of results from our Parkinson's disease Phase I clinical study in two leading peer-reviewed medical and scientific journals: The Lancet and Proceedings of the National Academy of Sciences. The proceeds of this financing will enable us to advance our acknowledged approach by supporting the completion of a Phase 2 study in the treatment of Parkinson's disease and a Phase 1 safety study in epilepsy."
Each share of outstanding Series D Stock is entitled to receive a semi-annual cash dividend at an annual rate of seven percent (7%), to be cumulative until paid. The purchasers, among other things, have registration rights and certain anti-dilution protections. The warrants have a term of seven years and are automatically exercised at the end of the term if they are in the money. Additional information regarding the transaction is included in the Company's Current Report on Form 8-K which was filed with the SEC on November 21, 2007.
Neither the securities issued in the transactions described above, nor the common stock issuable upon exercise or conversion of such securities, have been registered under the Securities Act of 1933, as amended (the "Securities Act") or any state securities laws, and such securities may not be offered or sold in the United States without an effective registration statement or pursuant to an applicable exemption from the registration requirements of the Securities Act and state securities laws. The securities were offered and sold only to institutional accredited investors. This press release shall neither constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
Sinoenergy Corporation (OTCBB: SNEN)
Up 11.59% on Monday
Detailed quote: http://www.beaconequityresearch.com/SNEN
November 26, 2007 - Sinoenergy Corporation Expects to Benefit from Government Policies Concerning the CNG Filling Station Industry
Sinoenergy Corporation (OTC Bulletin Board: SNEN), a manufacturer of compressed natural gas (CNG) vehicle and gas station equipment and a designer, developer and operator of CNG filling stations in China, has announced that the Company expects to benefit from the recent increase in natural gas retail prices for vehicle users.
On November 8, 2007, the National Development and Reform Commission in
To encourage the use of CNG-powered vehicles, the National Development and Reform Commission in
As a result of the new policies, Hubei province's municipal government recently raised the retail price for CNG to vehicle users from 40 cents to 45 cents per cubic meter in Hubei province, while at the same time allowing major cities the flexibility to adjust the retail price of CNG used for vehicles in order to promote CNG supply and encourage the use of CNG-powered vehicles in local markets.
"We are pleased to see the Chinese government's strong support for CNG vehicles. As a result of these policies, our purchase price for CNG currently remains unchanged, while we have benefited from increasing retail prices at which we sell CNG to vehicle users," said Mr. Bo Huang, CEO of Sinoenergy Corporation. "We believe the raising retail price for vehicles will aid in encouraging the development of a CNG filling station network throughout mainland
The price at which Sinoenergy purchases and sells CNG are both subject to price controls.
Great American Family Parks, Inc. (OTCBB: GFAM)
Up 10.00% on Monday
Detailed quote: http://www.beaconequityresearch.com/GFAM
November 26, 2007 - GFAM Acquires National Staffing Service Company
Great American Family Parks, Inc. (OTC Bulletin Board: GFAM) today announced that it has acquired Park Staffing Services, a flexible staffing (also known as temporary staffing) firm based in Bakersfield, CA. PSS provides manufacturing, construction, service and office personnel on a contractual basis. PSS will be expanded to manage staffing of the amusement attractions that GFAM's theme park division will acquire. It will also continue to actively expand its flexible staffing services throughout the nation.
Park Staffing Services generated revenues of $6,911,266 in 2006 and has shown solid profits throughout much of its long history. New contracts obtained because of its acquisition by GFAM are expected to substantially improve future revenues and profits. PSS was purchased through equity and debt, with no external financing needed.
Founded in 1979, PSS developed its client and employee base on a methodical and financially-sound basis to over 3,000 current employees on the present payroll with an efficient in-house staff of only eight.
Dr. Larry Eastland, Chairman and CEO of GFAM said: "We are very excited to have this important addition to our company. Temporary, seasonal and part- time employees make up the vast majority of the employees in a theme park or attraction. This gives us the opportunity to consolidate this important function for our current park, and those we are working to acquire. Additionally, it brings revenues to GFAM from more diversified sources, revenues that are expected to be more than five times our current revenues in 2008."
Dr. Eastland added: "This has been a very good year for GFAM so far in 2007. We have moved into profitability, the "going concern" issue has been removed from our audit, our
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