Neptune Subsidiary - Acasti - Off To Clinical Races

Neptune Technologies & Bioressources
NTB - TSX V) (NEPT - NASDAQ)
Basic Shares: 48.2 million
Fully diluted: 53.9 million

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Neptune's 60%-owned subsidiary, Acasti Pharma, is just 12 to 18 months away from seeing how much gold may be at the end of the rainbow after Health Canada gave its blessing to a phase 11 clinical trial of Acasti's drug candidate, CaPre.

That's how long it is estimated to take to conduct the randomized, double blind, placebo-controlled human trials to determine how effectively CaPre lowers bad cholesterol, increases good cholesterol and lowers blood fats called triglycerides. The stakes are huge, literally in the billions of dollars.

Previous animal trials of CaPre, a highly refined krill-oil based product, showed it dramatically outperformed the current gold standard fish-oil based drug called Lovaza. Lovaza enjoys an ever-growing annual revenue base of over $1 billion.

Lovaza's upstart competitor, Amarin Corp, another fish-oil based drug candidate, reported stellar results over Lovaza in clinical trials and saw its market cap move from the millions to over $1 billion in a market moment.

To read the full news release, please click here.

On another note and for those who may have missed it, highly followed U.S. based financial site, "The Street" recently published a report called "10 Cheap Biotech Stocks That Could Soar"

that included Neptune in its picks. Click here to read the commentary.

Silvore Fox Secures High Grade Zinc Property

Silvore Fox Minerals (SFX - TSX.V)
Shares Outstanding: 162.4 million
Fully Diluted: 183.3 million
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Today Silvore Fox announced that it has signed an exploration & option agreement with Orebot Inc. to secure the Winston Lake Property. Originally the Letter of Intent for this property was announced on February 8, 2011. The deal is for 100% interest with no net smelter royalty.

Silvore Fox states in the release, “This property historically contains the Pick Lake zinc deposit, which is reported to contain 600,000 tonnes of 21.2% zinc, 1% copper (Inmet Mining, 1998) which would make it the highest grade zinc deposit known to exist in Ontario. This tonnage and grade was not verified by the Corporation and cannot be relied upon as a current resource.”

Earlier this month, Silvore Fox acquired 4 additional claims on the property bringing the total land package up to 9,600 Hectares.

According to the release, investors can expect an “Exploration Update” outlining its plans for the property in the coming weeks.

To view the news release, please click here

Carfinco - Services $150 Million Loan Portfolio

Carfinco Income Fund TSX:CFN.UN
Units outstanding: 23.97 million
Units fully diluted: 24.6 million
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Just as Carfinco investors got comfortable with a planned yearly growth of the Fund at around 20%, management announced today that it will service a $150 million loan portfolio consisting of both prime and non-prime auto loans owned by a US Equity Fund.

The large new portfolio will add significant revenue to Carfinco with none of the normal risk attached to the loans.

Carfinco has been working to get into risk based pricing meaning that it wouldn't just lend to customers with a "D" credit score through its dealer network and the new portfolio spanning nationally will help assess the process as it covers customers across the credit spectrum.

In conjunction with servicing this portfolio, Carfinco will be opening a service centre in Quebec. "Having a centre in Quebec, working in conjunction with our head office location in Edmonton will not only assist in servicing this third party portfolio but will also increase the effectiveness of Carfinco administering its own portfolio across Canada," added Mr. Graf .

See full news release here...

VentriPoint Installs 7th VMS(TM) at Vancouver Hospital

VentriPoint Diagnostics Ltd.

VPT - TSX Venture
Shares issued: - 79.4 million
Fully diluted: - 99.6 million

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Today VentriPoint announced its 7th installation of its VMSTM technology in St. Paul's Hospital in Vancouver. The hospital will initially use the VMSTM to monitor adult patients post congenital heart disease surgery.

In the news release Dr. Jasmine Grewal, adult congenital heart disease cardiologist and lead investigator for the project says that the VMSTM is "highly accurate, easily accessible and at a lower cost than the diagnostic tools currently in use." One can assume that the other diagnostic tools she is referring to is an MRI.

VentriPoint has committed to installing 10 units by the end of June of this year. According to the news release management believes that they can have nine installed by the end of June and the 10th shortly thereafter. This is a significant milestone for the company, that Dr. Adams, CEO of VentriPoint set out for his team when he joined the company 9 months ago.

In an email Dr. Adams provided some additional information, "From the first 3 trade shows we have attended (Granada, Montreal and Cincinnati), we have 158 new people asking for information and quotes. We have selected the next 5 sites and will get them operational as soon as we can schedule them. These sites will be at leading centres in the USA and be able to assist us with validating the pulmonary hypertension database which is ready for clinical testing."

To view the full news release, please click here.

Buchans Lundberg Project Has Net Present Value $192.6 Million

Buchans Minerals Corporation (TSXV:BMC)

Basic Shares 150.9 million
Fully Diluted 193.7 million
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A Junior Explorer constantly faces the challenge to prove the true value in a property it owns based on what it can extract from the ground.

Buchans Minerals has gone the distance on its flagship property Lundberg, located in central Newfoundland, and has completed a fully NI 43-101 compliant Preliminary Economic Assessment (PEA) and conceptual open pit mine plan. The PEA at Lundberg forecasts a net present value (NPV) of $192.6 million and an internal rate of return (IRR) of almost 41% if it were to mine at the once richest base metal mine in North America.

The total life of the new mine if it were to process 5,000 tonnes per day would be 10 years with an average operating cost of $26 per tonne on net revenue of $52.95 per tonne.

Total capital expenditure for the project is about $152 million with cash-flow over the life of the mine estimated at $433 million. The $433 million could be a low estimate as it is based on today’s depressed metal prices and could be substantially increased if metal prices were to increase over the life of the mine.

Although management hasn’t disclosed how it would raise the $152 million, some options would be as follows:

• Funds could be raised through conventional debt instead of equity


• A direct sale of Lundberg could occur


• A joint venture partner earning in on the property


• A spin-out company is created for the Lundberg Mine
  

Any one of these options should increase shareholder value.

Currently Buchans trades with a market cap of under $10 million and owns several properties, each with the ability to substantially increase the company’s value on its own, not to mention the Lundberg property value of over $192 million.

Warren MacLeod does an excellent job explaining today's news in a short video called "Lundberg Presentation" that can be viewed by clicking on the picture above

http://www.buchansminerals.com/

Neptune Makes Major Inroad in Giant U.S. Market

Neptune Technologies & Bioressources
NTB - TSX V) (NEPT - NASDAQ)
Basic Shares: 48.2 million
Fully diluted: 53.9 million

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Neptune Technologies has forged contracts with two large U.S. distributors that management believes will increase demand for its krill oil by nearly one half.

The jaw-dropping estimate will see a "minimum" demand from the new distributors of 50 thousand kilograms per year, compared to Neptune's current annual production of 130 thousand kilograms, the June 22nd news release stated.

The two distributors were not named but together they hold 30% of the U.S. nutraceutical market, supplying 54 thousand retailers which in turn serve over 100 million U.S. customers.

An agent who helped put the substantial deal together, Bill Van Dyke, CEO of B&D Nutritional Ingredients, said he chose to work with Neptune because it was "the best krill oil manufacturer," on the market.

"We now have even more influential partners with clear vision and extensive resources to build strong brand recognition amongst the largest retailers," Neptune CFO Andre Godin said in the release.
Now Neptune Krill Oil (NKO) will be in Costco - among other giant retailers - competing with rivals such as Schiff® MegaRed® Omega-3 Krill Oil.

To meet the new demand, Neptune also announced it launched a plant renovation at its Sherbrooke facility that will eventually double its current plant capacity to hit 260 thousand kilograms per year.

And Neptune CFO, Frédéric Harland, promised the plant addition will not result in any production shutdowns.

To read the full release, please click here.

Acasti Rights Offering - Some Clarification

Neptune Technologies & Bioressources

NTB - TSX V) (NEPT - NASDAQ)
Basic Shares: 48.2 million

Fully diluted: 53.9 million

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Neptune and it's 60% owned subsidiary Acasti Pharma today re-issued a corrected news release regarding the just announced Rights Offering for Acasti. As we know the myriad of details could be confusing so we'll provide some clarification.

While the small cap markets have been taking a beating lately, Neptune Technologies (NTB) and Acasti Pharma (APO), have been doing relatively well.

And that's reflected in the price it will take to buy a discounted Acasti share through this week's announced rights offering.

When Acasti was first listed on the Toronto Stock Exchange Venture Index last March, the idea of a rights offering was unveiled and it was estimated that Acasti shares could be purchased for 60 cents per share through the rights offering.

Now that the rights offering has been launched, a discounted Acasti share will sell for $1.25 - over double the original estimate - because Acasti shares rose from the first trading price of 51 cents to trade in the range of $1.30 to $1.50 of late.

Here are the nuts and bolts of the rights offering:

• According to management, for roughly every 13 Neptune shares investors own, they will earn the right to purchase one $1.25 Acasti share.
• For every 10 Acasti shares investors own, they can purchase one discounted Acasti share at $1.25
• Every registered shareholder as of July 5th will be eligible, save those outside Canada.
• Rights expire at 4:00 p.m. Toronto time on Sept. 14th.
• Assuming all 64 million rights are exercised, Acasti would expect to raise just over $7.9 million.
• The net proceeds are intended to be used for the development of Acasti's prescription drug candidate CaPre, commercialization of its medical food, Onemia, development of a new over the counter (OTC) product and working capital.

There will be a trading opportunity as the Acasti rights will be listed on the TSX Venture Exchange under the symbol APO.RT on or around July 5th. It will give people wanting to pick up more Rights the opportunity to obtain them on the open market for about two months. It could be an interesting trade as the Rights will move up and down with the Acasti stock price with the market also pricing in the remaining time until the Rights expire.

If all the Rights are exercised, Neptune's ownership share of Acasti could drop to 54%.

Acasti applied to start Phase 11 clinical trials on its drug candidate, CaPre, but no announcement has yet been made.

However, Catalyst Equity Research analyst, Robin Cornwell, wrote in a recent update report:

"We have a strong degree of confidence that CaPre will very shortly receive approval from Health Canada to commence Phase 11 clinical trials."

To read the full rights offering news release, please click here.

AeroMechanical in Wired

AeroMechanical Services Ltd. (TSX:V-AMA)

Basic Shares: 118.58 million
Fully Diluted: 134.33 million

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Take one talented writer, a complex aviation industry, a horrible crash that took the lives of 228 people, place AeroMechanical Services in a pivotal role and poof - a historical tipping point emerges to make flying an even safer mode of transportation.

For anyone who has closely followed the unfolding story about how and why the Air France flight 447 crashed into the inky depths of the south Atlantic Ocean two years ago and what the broad implications of that accident are for millions of passengers and crew members around the world, this story in Wired Magazine by writer, Jerry Adler, is a must read.

Carfinco Q1, Muscle Car Earnings - 8th Consecutive Quarter Of Record Earnings

Carfinco Income Fund TSX:CFN.UN
Units outstanding: 23.97 million
Units fully diluted: 24.6 million

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Carfinco released its Q1, 2011 financials just in time for today's AGM that is being held in Toronto. Although the fund had to adhere to many changes; it is now taxed as a company instead of a fund and has to report under the new International Financial Reporting Standards (IFRS), what really mattered to unit holders is that it broke another earnings record, its 8th since Q2, 2009.

Clarification of the taxation and reporting changes can be found in the Funds MD&A.

During Q1 2011, the Fund achieved an annualized, after-tax return on unit holder's equity (ROE) of 59.0%. For comparative purposes to the Fund's ROE prior to 2011, the pre-tax return on adjusted unit holder equity for the quarter is 80.0% versus 58.9% for Q1 2010.

Highlights of the financials are listed below.

• Pre-tax earnings for the quarter were $5.5 million, up 69.2% from the $3.3 million for the first quarter of 2010;
• Earnings per fund unit for the quarter were 17 cents;
• Return on unit holder's equity for the quarter on an annualized basis was 59.0%;
• Unit holder's equity increased 9.5% to $29.2 million during the quarter;
• Loan originations for the quarter were $24.4 million, a 13.3% increase from the $21.5 million for the first quarter of 2010;
• Principal balance of finance receivables was $145.8 million, increasing 3.3% during the quarter;
• 31+ days delinquent accounts for the quarter were 3.3% a decrease of 21.4% from 4.2% at the end of the first quarter of 2010.

Read full news release here...

“Speaking of earnings; Carfinco’s performance attracted the attention of the Edmonton Journal (click here).

Major Trade Publication Features AeroMechanical

AeroMechanical Services Ltd. (TSX:V-AMA)
Basic Shares: 118.58 million
Fully Diluted: 134.33 million

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It's AeroMechanical's week to be in the spotlight.
Today, AeroMechanical's ability to resolve some of the troubling issues arising from the AF447 tragedy, were featured in a well-regarded trade publication, Flight Global.
The Flight Global story came one day after ABC News did a similar story.

To read latest, please click here.

The Flight Global feature is a well-written technical view about how AeroMechanical`s emergency streaming works while at the same time opening with a glimpse into what could be a frightening cockpit event.

It`s well worth the read.

Smartcool Video's Give Insight Into Energy Savings

Smartcool Systems Inc.
(SSC: TSX-V)

Basic Shares 60.2 million
Fully Diluted 77.4 million
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A brief new video produced by Smartcool staff provides a look into the back of a supermarket helping investors better understand the overall size and scope of what it takes to keep all of that food for sale properly chilled.

The world of high tech energy savings is well demonstrated here in a local Vancouver supermarket where Smartcool's Monitoring and Verification team does its magic.

Click the image below to watch the video.

Another video has surfaced from ABC news about Smartcool's energy savings solutions in Florida where the local affiliate interviewed Bob Burton of Global Energy Services, one of Smartcool's innovative distributors. Bob has helped increase many small business' bottom line profits over the past few years selling Smartcool's energy savings solutions.

The owner of Crusty's Pizza, Bob Richards where Smartcool installed its ECO 3 unit mentions that since the product has been installed he hasn't noticed any difference in temperature from his air conditioners or in his walk-in coolers, he has just noticed the savings.

Click the image below to watch the video.

ABC Puts AeroMechanical on International Stage

AeroMechanical Services Ltd. (TSX:V-AMA)
Basic Shares: 118.58 million
Fully Diluted: 134.33 million
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AeroMechanical (AMA) had a noteworthy day after ABC News did a lengthy story on AMA's abilities to increase passenger and crew safety in the wake of the Air France tragedy two years ago.

That accident saw all souls on board - 228 - perish when AF447 fell out of the stormy, midnight skies over the Atlantic Ocean.

To read the full June 13th ABC article, please click here.

We raise one point to note while reading the otherwise excellent story.

ABC states that the doomed aircraft broadcast an automated message before the flight failed but it took six hours before anyone at Air France headquarters acted on the message.

An interim accident investigation report states Air France first got wind of a problem roughly two hours after AF447 hit the ocean and that an international emergency by an independent body was not declared until six hours after the accident.

Solid Resources’ Hole 12 - Awesome!

Solid Resources (SRW - TSX.V)
Shares Outstanding - 86.21 million
Fully Diluted - 129.63 million

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A major extension of a highly mineralized zone appears likely with today’s release of assays from four new drill holes at Solid Resources' rare metals Spanish property.

In the news release, the company expressed excitement over hole 12, which intercepted 11.75 m of mineralized pegmatite (unique type of rock that hosts rare metals).

The company chose to break down the intercept into 1 metre samples in the news release to demonstrate consistency in grades. Highlights of the results include 1 metre grades of 2,350 ppm ($67) tin, 183 ppm ($54) Tantalum (Ta2O5 ) and more than 2% Lithium Oxide (Li2O).

There are two reasons the company is interested in hole 12. 1) The grades are much higher than the other holes drilled to date on the northern section of the property. 2) With this the company has also discovered a new extension of the mineralized zone.

Below is a summary of hole 12. Please note: 454 ppm/g/t = 1 lb. Tin = $13/lb. Tantalum = $130/lb. Niobium = $21/lb. Rubidium = $12/g.

Please click here to view the full news release

Drills Are Turning At MAN Alaska

Pure Nickel (TSX: NIC) (OTCBB: PNCKF)
Basic Shares: 67.8 million
Fully Diluted: 75.5 million
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Pure Nickel has just announced that drilling has started on its MAN Alaska property to follow up on the company's 2010 discovery of a large Platinum Group Element horizon on the massive property's Alpha Complex.

The company also mentioned in today's release that it is in the permitting process at its Salt Chuck property also in Alaska. Pure Nickel owns close to 11 square kilometres of claims in what was once a mine that was the largest producer of palladium in the United States. A fall or winter drill program is planned as drilling can take place year round in the temperate climate of Prince of Wales Island.

To view the news release, please click here.......

Alberta’s Children Will Now Benefit From VentriPoint’s VMS™ System

VentriPoint Diagnostics Ltd.
VPT - TSX Venture
Shares issued: - 79.4 million
Fully diluted: - 99.6 million

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If you are following, this is the sixth installation of the VMS(TM) heart analysis system. Dr. George Adams, VentriPoint’s President & CEO set a target of ten system installations for the company’s initial deployment.

In the release, Dr. Adams talks about the capital support that the company has received from Alberta and expresses how happy he is that The Alberta Children’s hospital was able to receive a system so early in the commercial launch.

There is no doubt that the Alberta Children’s Hospital is recognized as a leading institution and the cardiac medical community will be paying attention.

The news today, puts VentriPoint one step closer to its goal of 10 VMS(TM) system installations by the end of June. Expect more news about the placements in the near future, as well as publications about the system.

To view the news release, please click here

Carfinco Invites You To Annual Meeting of Unitholders

Carfinco Income Fund TSX:CFN.UN
Units Outstanding: 23.97 million
Units fully diluted: 24.6 million

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Carfinco would like to invite you to its Annual Meeting of Unitholders on June 15th at 10:00 am at the FCP Gallery, located on the main level of First Canadian Place, 100 King Street West in Toronto.

Carfinco management will discuss its record year in 2010 and Tracy Graf, CEO will present a detailed presentation aimed at Unitholders.

Neptune Expands To India

Neptune Technologies & Bioressources
NTB - TSX V) (NEPT - NASDAQ)
Basic Shares: 48.2 million
Fully diluted: 53.9 million

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Neptune Technologies has engaged a well-known professional to help it break into one of the biggest and most complex markets in the world - India.

With a population of 1.2 billion that speaks a minimum of 22 official languages, a booming economy and a rapidly expanding middle class of some 300 million that has always been culturally rooted in alternative medicines, it's a natural fit for Neptune's Krill Oil.

But to ensure success, Neptune appointed Raj Nakra Associates as its agent, Neptune said in a news release issued today.

Managing Director, Raj Nakra, is a chemical engineer who has his MBA and has been in the industry for over 30 years. His firm already represents worldwide recognized brands and he has an intimate knowledge of the Indian market within the pharmaceutical industry, dietary supplement and functional food industries.

For his part, Mr. Nakra said he, too, took a long, hard look at all krill oil producers before tucking Neptune under his wing. ‘‘After evaluating different novel products to promote in India, we came to the conclusion that Neptune Krill Oil stands above all’’ stated Mr. Nakra.

Neptune estimated sales in India could account for 15% of its overall revenues within just five years.

To read the full news release, please click here.

ANALYST: BUY ACASTI & GLOWING REPORT

Neptune Technologies & Bioressources

NTB - TSX V) (NEPT - NASDAQ)
Basic Shares: 48.2 million
Fully diluted: 53.9 million

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The first analyst's report by Catalyst Equity Research focusing exclusively on Neptune subsidiary, Acasti Pharma Inc., came out today and it carried a BUY recommendation, plus a one-year target share price of $2.75.

That's well above Acasti's (APO) closing price of $1.31 on Friday.

The initiating report by analyst Robin Cornwell, which you can find here, also delved into the finances of Acasti and its future prospects given the dramatically better results Acasti's main product - its drug candidate, CaPre, - has shown over its competitors.

(Just as a reminder, CaPre's only commercialized competitor is Lovaza - a fish-oil based drug - that enjoys annual revenues of $1.1 billion.)

To get to the commercial stage, Acasti applied to Health Canada for a Phase 11 clinical trial that Mr. Cornwell writes will involve about 430 patients and take 12 to 18 months to complete.

As of the writing of this, Health Canada hasn't given its permission yet but Mr. Cornwell expects that soon. See page '3' of his report to read more.

It's also important to read what he writes about Acasti's other main competitor - Amarin Corporation and it's fish-oil based drug candidate, AMR101.

Amarin (AMRN) stock blew through the roof after it announced Phase 3 clinical trial results that handily beat Lovaza.

Please read what Mr. Cornwell wrote on Amarin at page 4 of his report.

He also wrote that Acasti has an estimated $2.6 million in working capital as of Feb. 28 this year. With the announced, but yet-to-be-completed rights offering, Mr. Cornwell calculated Acasti will have $5.6 million in working capital. In addition, Acasti has two other products it's expecting to market soon, Onemia and Vectos, that will bring in a conservatively estimated $3 million by 2013.
Acasti's Phase 11 clinical trial is expected to cost $2.4 million so given all of the above paragraph, it should be well positioned to cover costs.

To read Mr. Cornwell's financial outlook for the year ending Feb. 28th for both 2012 and 2013, please see the top of page 7 in his report.

Meanwhile, another glowing report on krill oil in general and Neptune specifically came out from Q1 Publishing and was featured on Stockhouse today.

To view that, please click here.

Solid Resources Presenting at Critical Materials Investment Symposium

Solid Resources (SRW - TSX.V)

Shares Outstanding - 86.21 million
Fully Diluted - 129.63 million

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Today at 10:45 AM PST Greg Pendura, President & CEO of Solid Resources, will be presenting the company’s investment opportunity to approximately 300 people at Cambridge House’s Critical Materials Investment Symposium in Vancouver.
The event is being held at The Westin Bayshore hotel in Vancouver.

According to Cambridge House’s website, the Critical Materials Investment Symposium is the first series of conferences in the world to bring together the multitude of parties involved in finding solutions to the developing world crisis in the supply shortage of rare earth and strategic metals.

The symposiums bring together:
- Speakers internationally recognized for their expertise and understanding of the supply problems and possible solutions
- Financial institutions and brokerage firms with funds to support companies exploring for metals
- Sophisticated and large stakeholder investors
- End users
- Manufactures in need of supplies
- Industry media

To view the PowerPoint presentation Mr. Pendura will be speaking to, please click here

To learn more about the Critical Materials Investment Symposium, click here.

Third Analyst Agrees Carfinco Is A Buy/Carfinco In The Globe And Mail Today

Carfinco Income Fund TSX:CFN.UN
Units Outstanding: 23.97 million
Units fully diluted: 24.6 million
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Stonecap Securities has recently initiated coverage on Carfinco and in its inaugural report has given the Fund a target price of $8.00 and its top rating of Outperform.

Dylan Steuart, Stonecap's Financial Services Analyst wrote his Initiating Coverage report on Carfinco titled Accelerating Towards Greater Share Of Used Auto Market dated May 5th.

Mr. Steuart estimates Carfinco's 2011 revenue to be $42.2 million, up from 2010's $35.3 million with $0.60 EPU (earnings per unit). The $8.00 target price is derived from applying a 13 times multiple to the 2011 EPU estimate of $0.60.

The recommendation of Carfinco is based on the following highlights from the report:

• Carfinco stands alone in its target market.
  
• Expansion opportunities exist in Quebec and up the credit spectrum.
  
• Measures to improve credit metrics of portfolio have shown positive results
• Chances of acquisition appear low, but standalone operation still has upside.

Read the full report by clicking here...

Analyst Fred Westra from Industrial Alliance was ranked by StarMine this year as one of Canada's top stock pickers. Mr. Westra has been following Carfinco since The Howard Group made an initial introduction to the Fund on a trip to Montreal in November 2009, coverage started shortly after and has continued since February 2010.

Today, The Globe And Mail published an article under the Globe Investor/Number Cruncher section written by Sonali Verma who interviewed Mr. Westra titled Carfinco: Nothing flashy, but plenty of zip. An excerpt from the article states, his top pick is Carfinco Income Fund, which provides loans to people with poor or non-existent credit ratings to buy used vehicles. It sounds like a dangerous business, but Mr. Westra is impressed by Carfinco’s risk-management process.

Read today's Globe And Mail article here...

Smartcool Takes Accelerated Growth Message To Montreal Financial Community

Smartcool Systems Inc.
(SSC: TSX-V)
Basic Shares 60.2 million
Fully Diluted 77.4 million

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The last two days of May saw Smartcool President & CEO George Burnes present the company's vision to a variety of Brokers, Traders, Fund Managers and Analysts throughout Montreal's financial district.

In short, it was the story of a green technology company that believes 2011 will be the year that growth rockets upward and produces strong earnings (see above bar chart - click to enlarge).

The presentations gave the Montreal investment community a perspective on why Smartcool believes that 2011 will see revenues more than double over 2010 to in excess of $10 million with more than $2 million in earnings. 2010 revenues were $4.2 million.

Some of the firms that The Howard Group & Smartcool met with were: Versant Partners, Industrial Alliance, Canaccord, BMO, Pembroke Management and 3Macs with many other key individuals from the industry spending time with us as well.

Many of these firms have owned Smartcool since HG's first visit to Montreal in late 2009 when the stock was below $0.15 and as of late we have seen some additions to those positions.

The motivation for the trip was to expand the number of groups that are already invested in the company or have been watching SSC in advance of Q2 and Q3 financial results. The trip has provided benchmarks against which the investment community can measure future performance.

Mr. Burnes stated that the majority of this year's growth will take place in Q2 and Q3 with key U.K. based Sainsbury being a major contributor to revenues as it ramps up installation of SSC's energy saving technology.

A copy of Smartcool's presentation can be viewed by clicking here....

Solid Resources – Spanish Newspaper Feature & Private Placement

Solid Resources (SRW - TSX.V)

Shares Outstanding - 86.21 million
Fully Diluted - 129.63 million
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On Sunday May 29, 2011, the Spanish regional newspaper “La Voz de Galicia” led its Sunday supplement with a story on Solid Resources’ rare metals project in Spain.

Here is an English summary of the article.

SEARCHING FOR GALICIAN TREASURE

The race for strategic minerals has begun in Galicia: A Canadian company intends to operate the first coltan (tantalum) mine in Europe.

THIS IS NOT THE CONGO

In the midst of the fever for control of strategic minerals, a Canadian venture capital company is advancing with the exploration of what could be the first coltan (tantalum) mine in Europe: € 20 million and strict environmental guarantees.

Solid Resources’ Senior Geologist Dr. Alfonso Garcia gave an overview of the conflict minerals markets and the uses of different metals. Emphasis was put on the importance of Presqueiras having the potential to be the first European producer of tantalum.

The article also explains that:

• They are strategic minerals because they provide the indispensable raw materials for any advanced technology.


• There is a high probability that the tin and tantalum site can be exploited, according to the technical evaluation.


• The mine would cost about € 20 million and create 50 direct jobs and 150 indirect ones.

Dr. Garcia finished by saying: “What I would like to see, if this tantalum/tin/lithium operation comes into being, is the development of research programs and, even thinking further ahead, other things such as, a factory for electronic components. Neither the mines have to be in the Congo nor the factories have to be in Germany.”

Of note: Tantalum exported from the Congo is considered a “conflict mineral”. Meaning it is a major source of income for the military occupation of Congo. The US and other countries have restricted imports of “conflict minerals.”

The article is available in Spanish:

Click here to view page 1.

Click here to view page 2 & 3.

Click here to view page 4.

Also the company announced today that it is raising $1million in a private placement. The subscription price is set at $0.10 CDN per unit. Each unit will consist of one common share and a two year full warrant, which has been set at $0.15. The securities issued in connection with the private placement will be subject to a four month hold period.

The use of proceeds outlined in the news release will be “to further enhance our knowledge of the mineralized pegmatite dykes plus commence initial exploration the Peruvian gold/copper property.” Pegmatite is a unique type of rock that hosts the rare metals Solid is currently drilling for on its Spanish property. The metals are Tantalum, Tin, Lithium, Niobium, Cesium and Rubidium.

The company will be initiating a NI 43-101 compliant Reserve Estimate this summer.

If you are interested in participating in the financing please email dave@howardgroupinc.com

To read the full news release, please click here.