Welcome to the Daily Picks! Where Uptick staff looks for new companies to feature, giving readers the opportunity to find new possibilities for their investment portfolios.
SSOL: Sunvalley Solar, Inc
Sunvalley Solar, Inc. (SSOL), a leading solar power technology and solar system integration company, announced today that it has been awarded a contract to build a 107.2KW-DC Photovoltaic System for Duplo U.S.A. Corporation in Santa Ana, CA.
The 107.2KW-DC Photovoltaic System is estimated to produce 171,188 KWh electrical energy annually. The system is designed with three hundred and twenty (320) pieces of high efficient LG Solar 335 Watt Polycrystalline modules and three Solectria solar inverters.
The installation of this project will start in October 2016.
EXMGF: Excelsior Mining Corp
Excelsior Mining Corp. (TSX VENTURE: MIN) (FRANKFURT: 3XS) (OTCQX: EXMGF) (“Excelsior” or the “Company”) is pleased to announce that the Company has entered into a subscription agreement for a financing, with an affiliate of Greenstone Resources L.P. (“Greenstone”), for total gross proceeds of US$14.0 million. The financing consists of a private placement of common shares (the “Private Placement”) at CDN$0.45 per share for gross proceeds of US$10.0 million and the sale of a 1% gross revenue royalty on the Gunnison Copper Project (the “Royalty Financing”) for gross proceeds of US$4.0 million. Upon closing, Excelsior would be fully funded through to a decision to construct and the expected completion of the permitting process. Receipt of final operating permits is expected in Q2, 2017. Construction is scheduled to begin in Q3 of 2017, with commercial production anticipated in 2018.
The Private Placement and Royalty Financing require shareholder approval under the rules and policies of the TSX Venture Exchange and applicable Canadian securities laws. The Company intends to obtain shareholder approval for the Private Placement and Royalty Financing at the Annual General Meeting of shareholders that is scheduled to occur on October 27, 2016 in Vancouver, B.C. (the “Meeting”). Assuming shareholder approval is obtained and other conditions precedent to the Private Placement and Royalty Financing are met, then the Private Placement and the Royalty Financing are scheduled to close shortly after the Meeting.
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