Technology News

~Greenlane continues to invest in the growing RNG market and related opportunities~

 Greenlane Renewables Inc. (" Greenlane ") (TSX: GRN) (FSE: 52G) through its subsidiary, Greenlane Renewables Capital Inc., is pleased to announce its second deployment of development capital to a company focused on developing landfill gas-to-renewable natural gas (" RNG ") projects.

Greenlane Renewables Inc. logo (CNW Group/Greenlane Renewables Inc.)

Greenlane is deploying pre-construction development capital in the form of a convertible note agreement with funds to be advanced on a milestone achievement basis of approximately $0.7 million ( US$0.5 million ). The funds will be used to progress the development company's landfill gas-to-RNG project to construction financing, expected in late 2022. Under the terms of the loan agreement, Greenlane has the option to convert the note into an equity interest in the development company in addition to realizing a return of capital.

The initial project planned by the development company is located in the midwestern USA and is estimated to generate over 250,000 MMBtu annually using a Greenlane supplied biogas upgrading system. Project revenue is expected to be generated from the sale of physical gas and D3 Renewable Identification Numbers (D3 RINs) under the US Renewable Fuel Standard (RFS) program or, alternatively, one or more long-term offtake agreements with natural gas utilities. The total project capital expenditure to be provided by third parties is expected to be approximately $23.0 million ( US$18.0 million ).

"We are rapidly moving forward with our development capital program," said Brad Douville , President and CEO of Greenlane. "This transaction marks our second deployment and supports an innovative developer targeting the landfill gas-to-RNG space in the United States . We continue to see abundant opportunities in different countries around the world to add incremental value to project developers by providing development capital to accelerate RNG projects to the ready for construction phase. Our aim is to help de-risk projects and build scale in RNG origination, while securing Greenlane system sales and services and new long-term recurring revenue for Greenlane as the industry continues to expand."

Greenlane Renewables is a pioneer in the rapidly growing renewable natural gas (" RNG ") industry. As a leading global provider of biogas upgrading systems, we are helping to clean up two of the largest and most difficult-to-decarbonize sectors of the global energy system: the natural gas grid and the commercial transportation sector. Our systems produce clean, low-carbon and carbon-negative RNG from organic waste sources such as landfills, wastewater treatment plants, dairy farms, and food waste streams. To the company's knowledge, Greenlane is the only biogas upgrading company offering the three main technologies: waterwash, pressure swing adsorption, and membrane separation. Greenlane's business has been built on over 30 years of industry experience, patented and proprietary technology, over 100 hydrogen sulfide treatment systems sold, and over 135 biogas upgrading systems sold into 19 countries, including some of the largest RNG production facilities in the world. For further information, please visit www.greenlanerenewables.com .

FORWARD LOOKING INFORMATION – This news release contains "forward-looking information" within the meaning of applicable securities laws. All statements contained herein that are not historical in nature contain forward-looking information. Forward-looking information can be identified by words or phrases such as "may", "is expected", "likely", "should", "would", "plan", "anticipate", "intend", "potential", "proposed", "estimate", "believe" or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions "can", "may" or "will" happen. In particular, this news release contains forward looking information relating to the convertible note loan agreement to a development company with funds to be advanced on a milestone basis up to $0.7 million ( US$0.5 million ); that the funds will primarily be used to progress the development company's landfill gas-to-RNG project to construction financing, expected in late 2022; that this project is estimated to generate over 250,000 MMBtu annually using a Greenlane-supplied biogas upgrading system; that project revenue is expected to be generated from the sale of D3 RINs and physical gas commodity; that total construction financing for the project is expected to be approximately $23.0 million ( US$18.0 million ); that there will be many opportunities in different countries around the world to provide development capital to accelerate RNG projects to the ready for construction phase; that Greenlane will be able to de-risk these RNG projects and build scale in RNG origination while securing Greenlane system sales and services; ; that Greenlane's product portfolio is expanding; that Greenlane will be acquiring minority equity interests in RNG producing projects capable of generating long-term revenue for Greenlane. The forward-looking information contained herein is made as of the date of this press release and is based on assumptions management believed to be reasonable at the time such statements were made, including management's perceptions of future growth and expected future developments, as well as other considerations that are believed to be appropriate in the circumstances. While management considers these assumptions to be reasonable based on information currently available to management, there is no assurance that such expectations will prove to be correct. By their nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond the Company's control, could cause actual results to differ materially from the forward-looking information in this press release. Such factors include, without limitation, risks relating to the ability of the development company to achieve milestones and secure construction financing for its initial project; risks relating to the ability to sell D3 RINs and physical gas commodity, and the market prices thereof; risks relating to the estimated RNG generation of the initial project; the availability of other opportunities for Greenlane to deploy specialized development capital and acquire minority equity interests in RNG producing projects; and risks identified in the Company's annual information form and in other documents filed with Canadian securities regulatory authorities on the Company's SEDAR profile at www.sedar.com . Readers are cautioned not to put undue reliance on forward-looking information.  Actual results may differ materially from those anticipated. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

SOURCE Greenlane Renewables Inc.

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Greenlane Renewables Announces Graduation to the Toronto Stock Exchange

Greenlane Renewables Inc. (" Greenlane ") (TSXV: GRN / FSE: 52G) is pleased to announce that it has received final approval for the listing of its common shares and warrants on the Toronto Stock Exchange (" TSX ").

Greenlane's common shares and warrants will commence trading on the TSX effective as of market open tomorrow, February 17, 2021, under the current trading symbols of "GRN" and "GRN.WT", respectively. In connection with the TSX listing, Greenlane's common shares and warrants will be concurrently delisted from the TSX Venture Exchange (" TSXV ").

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Greenlane Renewables Announces Closing of $26.5 Million Bought Deal Offering

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA), OR ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.

Greenlane Renewables Inc. (" Greenlane ") (TSXV: GRN / FSE: 52G) is pleased to announce that it has closed its previously announced upsized bought deal offering (the "Offering") of 12,190,000 common shares ("Shares"), which included 1,590,000 additional shares issued pursuant to the underwriters' full exercise of their over-allotment option, at a price of $2.17 per share for total gross proceeds of approximately $26.5 million.

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Greenlane Renewables Announces Exercise of Over-Allotment Option

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA), OR ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.

Greenlane Renewables Inc. (" Greenlane ") (TSXV: GRN / FSE: 52G) is pleased to announce that, in connection with its previously announced upsized bought deal offering of 10,600,000 common shares of the Company ("Shares") at a price of $2.17 per Share, for gross proceeds of approximately $23 million (the "Offering"), the underwriters have determined to exercise their over-allotment option to purchase an additional 1,590,000 common shares at the offering price of $2.17 per share ("Additional Shares"). Exercise of the over-allotment option will bring the total gross proceeds of the Offering to approximately $26.5 million.

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Greenlane Renewables Announces $20 Million Bought Deal

Not for Distribution to United States Newswire Services or Dissemination in the United States

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA), OR ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.

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Greenlane Renewables to Participate at the 13th Annual LD Micro Main Event Conference

Greenlane Renewables Inc. (" Greenlane ") (TSXV: GRN / FSE: 52G) a leading global provider of biogas upgrading systems, is pleased to announce that Brad Douville, Chief Executive Officer, will present at the 13th Annual LD Micro Main Event Conference on December 15th, 2020 at 2:30 p.m. (Eastern Time).

Interested parties can register to attend at the following link: https://ve.mysequire.com/

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Small Cap Growth Virtual Investor Conference: Presentations Now Available for Online Viewing

Small Cap Growth Virtual Investor Conference: Presentations Now Available for Online Viewing

Virtual Investor Conferences, the leading proprietary investor conference series, today announced the presentations from its Small Cap Growth Virtual Investor Conference held on December 1 st are now available for online viewing.

REGISTER NOW AT : https://bit.ly/3H26Z7H

The company presentations will be available 24/7 for 90 days. Investors, advisors, and analysts may download
investor materials from the company's resource section.

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Graphene Manufacturing Group Announces Closing of $5.7M Bought Deal Offering

Graphene Manufacturing Group Announces Closing of $5.7M Bought Deal Offering

Graphene Manufacturing Group Ltd. (TSXV: GMG) ("GMG" or the "Company") is pleased to announce that the Company closed its previously announced bought deal prospectus offering of units (the "Units") of the Company, including exercise in full of the over-allotment option (the "Offering"). A total of 2,091,850 Units were sold at a price of C$2.75 per Unit (the "Offering Price") for gross proceeds of approximately C$5.75 million.

Each Unit is comprised of one ordinary share in the capital of the Company (each, an "Ordinary Share") and one Ordinary Share purchase warrant (each, a "Warrant"). Each Warrant entitles the holder to purchase one Ordinary Share at a price of C$3.35, at any time until November 30, 2026. The Offering was completed pursuant to an underwriting agreement dated November 14, 2022 among the Company and Eight Capital, as lead underwriter and sole bookrunner, and a syndicate of underwriters including Raymond James Ltd., H.C. Wainwright & Co., LLC, Leede Jones Gable Inc., PI Financial Corp., and Research Capital Corporation (collectively, the "Underwriters").

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IPA's Subsidiary BioStrand and BriaCell Announce Artificial Intelligence Collaboration and License Agreement to Discover and Develop Anti-Cancer Antibodies

IPA's Subsidiary BioStrand and BriaCell Announce Artificial Intelligence Collaboration and License Agreement to Discover and Develop Anti-Cancer Antibodies

IPA (IMMUNOPRECISE ANTIBODIES LTD.) ( "IPA") (NASDAQ: IPA), an advanced biotherapeutic research and technology company, today announced that BioStrand BV ("BioStrand"), an AI in silico discovery subsidiary of IPA, has entered into a research collaboration and license agreement (the "Agreement") with BriaCell Therapeutics Corp. (NASDAQ: BCTX, BCTXW) (TSX: BCT) ("BriaCell"), a clinical-stage biotechnology company specializing in targeted immunotherapies for cancer.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221130005423/en/

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Greenlane Renewables Announces Dairy RNG System Sales Contract

Greenlane Renewables Announces Dairy RNG System Sales Contract

~Greenlane to supply a biogas upgrading system for a new project in the Western U.S.~

 Greenlane Renewables Inc. (" Greenlane ") (TSX: GRN) (FSE: 52G) is pleased to announce that its wholly-owned subsidiary, Greenlane Biogas North America Ltd., has been awarded a $4.6 million ( US$3.5 million ) contract for a dairy RNG project in the Western United States for the supply of a biogas upgrading system. Greenlane will supply its pressure swing adsorption system for upgrading biogas generated from anaerobic digestion of dairy cow manure into carbon negative renewable natural gas ("RNG") suitable for injection into the local pipeline network. Order fulfillment is expected to commence immediately.

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Naturally Splendid Reports Third Quarter Results for 2022 and Company Update

Naturally Splendid Reports Third Quarter Results for 2022 and Company Update

Naturally Splendid Enterprises Ltd. ("Naturally Splendid", "NSE" or "the Company") (FRANKFURT:50N)(TSXV:NSP)(OTC PINK:NSPDF) announces its unaudited financial results for the nine months ended September 30, 2022. All amounts are in Canadian dollars and are prepared in accordance with International Financial Reporting Standards

Naturally Splendid CEO Mr. Craig Goodwin states, "As we continue to focus our efforts and resources on PlanteinTM Plant-Based Foods and our ten (10) year exclusive manufacturing and distribution agreement with Flexitarian Foods PTY Ltd., there have been many positives as well as a number of challenges. The positives include our recent launch into retail, and the return to trade shows where are products have been getting exceptional reviews, as well as our expanding relations with our national distributors. However, the Company has experienced significant challenges as well, the most notable being the continued delay of customized manufacturing lines being assembled in Shanghai, China. The delay to date has been due to a combination of shortage of computer chips, combined with on-going Covid challenges and subsequent quarantining in Shanghai".

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Nanalysis Reports Third Quarter 2022 Results

Nanalysis Scientific Corp. ("the Company") (TSXV: NSCI) (OTCQX: NSCIF) (FRA: 1N1), a leader in portable NMR machines and MRI technology for healthcare and industrial applications, releases its second quarter results ending September 30, 2022. Chief Executive Officer, Sean Krakiwsky and Interim Chief Financial Officer, Randall McRae will host a conference call at 5 P.M. Eastern Time today to discuss the results. A second call will be held for European investors at 8:30am ET on Wednesday, November 30 th . All interested parties are invited to join these calls.

Nanalysis Scientific Corp. (CNW Group/Nanalysis Scientific Corp.)

"I am pleased to report we have returned to our strong growth trajectory in the third quarter," said Sean Krakiwsky, Founder and CEO of Nanalysis. "We continue to focus on growing all segments of our organization and executing on our operational strategy. In the third quarter we laid significant groundwork on our previously announced multi-year airport security contract with the Canadian Air Transportation Security Authority and have now begun operations on that project in the fourth quarter. We believe we have also resolved the issues that slowed our growth in our benchtop NMR sales organization in the second quarter, returning to strong benchtop NMR sales figures. We expect to see continued strength in our business in the fourth quarter, which has historically been a strong quarter for our business."

Financial highlights (unaudited) for the three months ended September 30, 2022:

  • For the three months ended September 30, 2022 , the Company reported consolidated revenue of $6,878K , an increase of $3,542K or 106% from the comparative period in 2021. This includes $6,145K in product sales and $733K of service revenue related to airport security services.
  • Gross margin on total sales was 43% for the three months ended September 30, 2022 . This was the result of increased training costs of personnel for the CATSA airport security project, increased personnel and training in Nanalysis' manufacturing group to increase manufacturing capacity, an increase in costs due to worldwide supply chain constraints and inflation, as well as a specific medical imaging project in our RS2D subsidiary that had lower than normal gross margins. Management expects margins to improve as continued investments in manufacturing improvements continue, sales levels increase, and the CATSA airport security project continues to phase-in to full capacity.
  • (Loss) Income before other items for the three months ended September 30, 2022, was $( 618K ) versus $12K compared to the same period last year.
  • Net loss for the three months ended was $(2,599K), as compared to the three-month loss for September 30, 2021, of $(857K).
  • The Company had cash on hand of $7,925K, an undrawn credit facility of $6,734K, working capital of $9,658K and an undrawn government contribution funding of $4,985K as of September 30, 2022.

Recent strategic and operational highlights during and subsequent to the second quarter of 2022 include:

  • Funding received from Prairies Economic Development Canada: Subsequent to September 30, 2022 , the Company received its first $1.5 million in funding from the Business Scale-up Program. This program will provide Nanalysis up to $4,985K of funding in the form of an unsecured interest free loan. The program is designed to help fast growing tech firms scale-up and enter new markets.
  • Consolidation of credit facility: On November 18, 2022 , the Company closed a credit line with a major Canadian bank, consolidating its existing operating facilities into a $9 million operating line.  The line bears interest at a rate of prime plus 0.65% and will allow the Company to execute on its growth and expansion plans.
  • Security Service : In November 2022 , the Company began providing services under the CATSA airport security contract and continues to execute successfully on its phase-in plan for the entire project.
  • Manufacturing : In addition to Nanalysis investing in a state of the art five axis machining centre and wire electrical discharge machine in the second quarter of 2022, Nanalysis has also invested in growing out the manufacturing team allowing the Company to meet expected growth in demand as it heads into 2023.
  • Quad Systems : The company has seen continued development with Quad System's full high-field NMR product. Module sales have continued to increase in the third quarter and the Company expects material revenue from the acquisition in 2023.
Operating Results

For the nine months ended September 30, 2022 , the Company reported consolidated revenue of $17,618K , an increase of $6,664K or 61% from the comparative period in 2021. The increase from Q3 2021 can be attributed to continued increases in shipments of the 100MHz benchtop NMR unit, coupled with revenue from the recent acquisition, K'Prime, offset by lower RS2D revenue than in Q3 2021.

Gross profit for the nine months ended September 30, 2022 , was $9,504K (a margin of 54%) compared to gross profit of $7,152K (a margin of 65%) for the nine months ended September 30, 2021 . Margins for the nine months ended September 30, 2022 , decreased over the nine months ended September 30, 2021 , as a result of increased component costs because of world-wide supply chain challenges, low margins on a specific Q3 project in RS2D, training costs included in cost of services related to the CATSA airport security project phase in, and investments made in the Company's manufacturing workforce beginning in the second quarter.

The Company's net loss for the nine months ended was $(6,623K) , as compared to the nine-month loss for the period ended September 30, 2021 , of $(1,127K) . The increased loss was due to higher sales and marketing expenses, increased general and administration expenses and increased research and development expenses, both in the Nanalysis segment and from the new acquisitions. In addition, there were business acquisition costs from the two transactions completed, increased depreciation and amortization expense, and increased finance expenses partially offset by no RS2D earnout in the quarter and increased revenues.

Outlook

"Our main objective continues to be focusing on executing our business plan, including ramping up sales of our 100 MHz product, completing the roll out of the CATSA airport service contract, and capitalizing on business opportunities brought by our recent acquisitions. We have successfully restructured and refocused our benchtop NMR salesforce and expect growing demand in 2023 for benchtop products, and we continue to work towards the launch of a full multi-module high-field NMR product via Quad Systems," said Sean Krakiwsky .

"With a slower second quarter well behind us, we have returned to our high growth trajectory and continue to have confidence that Nanalysis is well positioned for solid growth in 2023 and the years to come. Operational excellence remains our mantra, as we will continue to leverage existing customer relationships, our innovative technologies, and a motivated and professional team to fuel growth. We are confident that we will deliver the value we've created by our recent acquisitions to our shareholders through the remainder of 2022 and into the new year," concluded Mr. Krakiwsky.

Conference Call

Investors interested in participating on the live call can dial 1-888-664-6392 or 416-764-8659 from abroad. Investors can also access the call online through a listen-only webcast here:
https://app.webinar.net/JoLVkw4jEmX or on the investor relations section of the Company's website HERE . The webcast will be archived on the Company's investor relations webpage for at least 90 days and a telephonic playback will be available for seven days after the conference call by calling 1-888-390-0541 or 416-764-8677, conference ID # 833132.

Additionally, the Company will be hosting a Q&A session for it's European investors tomorrow, Wednesday, November 30 th at 8:30am ET which can be accessed by the following link: : Click here to join the meeting , or call in (audio only) +1 437-703-4522, Phone Conference ID: 295 204 525#.

About Nanalysis Scientific Corp. (TSXV: NSCI, OTCQX: NSCIF, FRA:1N1)

Nanalysis trades on the TSX Venture Exchange (TSXV) in Canada with ticker symbol 'NSCI', OTC and the Frankfurt exchange under the ticker symbol '1N1'. The company's business is what we term "MRI and NMR for industry". The company develops and manufactures portable Nuclear Magnetic Resonance (NMR) spectrometers or analyzers for laboratory and industrial markets. The NMReady-60™ was the first full-feature portable NMR spectrometer in a single compact enclosure requiring no liquid helium or any other cryogens. The Company has followed up that initial offering with new products and continues to have a strong innovation pipeline. Nanalysis began selling a 100MHz device in 2020. The Company's new device is the most powerful and most advanced compact NMR device ever brought to market.  Nanalysis devices are used in many industries (oil and gas, chemical, mining, pharma, biotech, flavor and fragrances, agrochemicals, law enforcement, and more) as well as numerous government and university research labs around the world. The Company continues to exploit new global market opportunities independently and with partners.

With the recent acquisition of K'Prime, the Company maintains a North American sales and service company of over 40 individuals who cover scientific instrumentation for pharma, food, chemical and oil & gas customers, as well as imaging systems and services for security applications.  Additionally, the Company has a 43% ownership in Quad Systems AG ("Quad Systems"), with an option to purchase the remaining shares.  Quad Systems is a Zurich-based Nuclear Magnetic Resonance ("NMR") company focused on high-field NMR for pharmaceutical and other vertical markets.

Notice regarding Forward Looking Statements and Legal Disclaimer

This news release contains certain "forward-looking statements" within the meaning of such statements under applicable securities law. Forward-looking statements are frequently characterized by words such as "anticipates", "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed", "positioned" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

Neither TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

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SOURCE Nanalysis Scientific Corp.

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