CALGARY, AB / ACCESSWIRE / July 16, 2015 / Platinum Communications Corp. (TSX VENTURE: PCS) today announced financial results for the nine months ending May 31, 2015.

Highlights for the nine months, include the following:

– Platinum’s revenues from operations for the nine months ending May 31, 2015 remained unchanged compared to the same nine month period of fiscal 2014. The corporation’s commercial revenues increased 32% while its residential revenues decreased 12% as a result of the increased focus on enterprise customers.
– Gross profit also remained flat. Earnings before interest, tax, depreciation and amortization decreased due to increased costs from the Pathcom acquisition for nine months in 2015
compared to five months in fiscal 2014.
– Cash provided by operating activities was $965,838 in Q3 2015 compared to $867,738 in the same quarter of fiscal 2014, an increase of 11%. Platinum recorded Net Income of $45,030 for the first nine months of fiscal 2015 a decrease of 78% over the net income recorded in the same period of the previous year.

SELECTED HIGHLIGHTS(1)

After concluding its due diligence Platinum will not be proceeding with the previously announced acquisition of the operating assets of Ironclad TEK (Ironclad). Platinum remains committed to providing a full service information/data/communication package to the commercial and enterprise market.

Platinum is a leading provider of superior quality fixed wireless Internet and Broadband solutions in Alberta. Based in Calgary, Platinum operates a wireless broadband network that utilizes Next-Generation Wimax technology to bring fast, reliable and affordable Internet and digital phone service to residents and businesses across the province. Serving approximately 10,000 customers in over 180 communities, Platinum caters primarily to rural and near-urban markets that are often beyond the reach of traditional Internet providers. Platinum’s high quality infrastructure, excellent service record and ever-growing network and capabilities, make it the provider of choice for customers within its vast coverage area. For more information please visit our website at www.platinum.ca or call 403-301-4591.

(1) Includes the previously announced acquisitions of Hybrid and Pathcom customers from November 1, 2013 and January 1, 2014 respectively.
(2) Gross Profit is a widely accepted measure of financial performance used by some analysts and investors to analyze and compare companies on the basis of operating performance. Gross profit is not defined under IFRS and should not be considered in isolation or as an alternative to, or more meaningful than, net income or cash flow as determined in accordance with IFRS as an indicator of the Corporation’s performance or liquidity. Platinum’s gross profit is unlikely to be comparable to similar measures presented by other companies.
(3) Earnings before interest, tax, depreciation and amortization is a widely accepted financial indicator used by some analysts and investors to analyze and compare companies on the basis of liquidity. Earnings before interest, depreciation and amortization is not defined under IFRS and should not be considered in isolation or as an alternative to, or more meaningful than, net income or cash flow as determined in accordance with IFRS as an indicator of the Corporation’s financial performance or liquidity.

This news release may contain forward-looking statements. These forward-looking statements do not guarantee future events or performance and should not be relied upon. Actual outcomes may differ materially due to any number of factors or uncertainties, many of which are beyond Platinum’s control. Some of these risks and uncertainties may be described in Platinum’s corporate filings (posted at www.sedar.com). Platinum has no intention or obligation to update or revise any forward-looking statements due to new information or events.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

For further information please contact:

Bernard Parkinson, CEO
Phone (403) 301-4590

Katherine Kirkup, CFO
Phone (403) 301-4594

Platinum Communications Corporation (PCS) http://www.platinum.ca

SOURCE: Platinum Communications Corporation

ReleaseID: 430615

BETHESDA, MD / ACCESSWIRE / July 16, 2015 / Spherix Incorporated (NASDAQ: SPEX) an intellectual property development company committed to the fostering and monetization of intellectual property, today announced that it has entered into definitive agreements with certain institutional investors to sell an aggregate of 5,719,532 units, with each unit consisting of (i) one share of its common stock, par value $.0001 per share (“Common Stock”) and (ii) one warrant to purchase 1.23 shares of Common Stock, in a registered direct offering for gross proceeds of approximately $1.5 million excluding the exercise of any Warrants issued in the offering, before deducting placement agent’s fees and estimated offering expenses. The per share exercise price of the warrants is $.43. The warrants are exercisable beginning on the date that is six months and one day following the closing of this offering and will expire on the date that is five and one half years from the date of closing.

The securities described above are being offered directly by Spherix Incorporated pursuant to an effective shelf registration statement on Form S-3 which was previously filed with the Securities and Exchange Commission. The closing of this offering is expected to occur on or about July 21, 2015, subject to the satisfaction of customary closing conditions.

Chardan Capital Markets LLC served as the sole placement agent for the offering. Copies of the prospectus supplement, containing a more detailed explanation of the offering and the securities, and accompanying base prospectus relating to the offering may be obtained from the Securities and Exchange Commission website at http://www.sec.gov.

This press release does not and shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities, nor shall there be any sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state or jurisdiction.

About Spherix

Spherix Incorporated was launched in 1967 as a scientific research company. Spherix is committed to advancing innovation by active participation in the patent market. Spherix draws on portfolios of pioneering technology patents to partner with and support product innovation.

Forward-Looking Statements

Certain statements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company’s filings with the Securities and Exchange Commission (the “SEC”), not limited to Risk Factors relating to its patent business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.

Contact:

Investor Relations:

Hayden IR
Brett Mass, Managing Partner
Phone: (646) 536-7331
Email: brett@haydenir.com
www.haydenir.com

Spherix:

Phone: (703) 992-9325
Email: info@spherix.com
www.spherix.com

SOURCE: Spherix Incorporated

ReleaseID: 430632

VANCOUVER, BC / ACCESSWIRE / July 16, 2015 / David H. Brett, President and CEO, Pacific Bay Minerals Ltd. (TSXV: PBM) (“Pacific Bay” or the “Company”) reports that the Company has signed a Joint Venture Agreement with Dease Lake Jade Mine Ltd. (“Dease Lake Jade”) whereby Pacific Bay will advance $500,000 to fund and participate on a 50/50 basis in the 2015 proceeds of jade mining operations on claims owned by Dease Lake Jade in Northern British Columbia (the “JV”). In connection with the JV, the Company has arranged a $500,000 private placement of 10,000,000 common shares at $0.05 per share with one investor, a BC corporation owned by Alan Qiao and Jun Qiao (the “Financing”). Both the JV and the Financing are subject to TSX Venture Exchange acceptance. The Financing will also be subject to shareholder approval as the issuance of the shares would effect a change of control of the Company. The Company intends to seek shareholder approval by consent in writing from shareholders holding greater than 50% of the outstanding shares.

In connection with and on closing of the Financing, Pacific Bay will appoint to its board of directors Mr. Alan Qiao, CEO of Dease Lake Jade. In addition, the investors in the Financing have the right to appoint one additional director (two in total) at the next annual general meeting of the shareholders of the Company. The investors have also agreed to vote the shares to be acquired under the Financing in favour of all management recommendations, subject to certain limitations, for a period of one year.

Under the JV, Dease Lake Jade, whose operations in BC have been the subject of the Discovery Channel reality TV series “Jade Fever,” will contribute access to its claims, mining infrastructure and equipment, while Pacific Bay will provide $500,000 is working capital and expert oversight of the Company’s new strategic partner Jedway Enterprises Ltd. Jedway has over 25 years of experience in Jade mining and marketing in BC. Dease Lake Jade and Pacific Bay will jointly market any jade produced in 2015 and each be entitled to a 50% share of any proceeds. Pacific Bay will have the right to extend the JV for up to 5 consecutive seasons of Jade mining jade mining by contributing additional funds to the JV for working capital on an annual basis.

The jade mining activities will be managed by a joint venture management committee with equal participation from Dease Lake Jade and Pacific Bay. Jedway will represent Pacific Bay as an onsite operation monitor of the JV.

“This transaction will propel Pacific Bay into the exciting field of Canadian jade exploration and mining in a region that the Company already has substantial mineral assets and management has decades of exploration and mining experience,” said Pacific Bay CEO David Brett. “Pacific Bay’s vision is to become a leading jade explorer, miner and exporter in Canada. The Company is actively considering acquiring additional jade mining and exploration rights in BC.”

“I look forward to working with the Pacific Bay team to capitalize on the exciting potential of BC jade exploration and mining,” said Alan Qiao, CEO of Dease Lake Jade. “The interest in BC jade in China is strong and growing.”

Pacific Bay Minerals Ltd.
Per/
David H. Brett, MBA,
President & CEO
604-682-2421

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Pacific Bay Minerals Ltd. 

ReleaseID: 430640

VANCOUVER, BC / ACCESSWIRE / July 16, 2015 / Klondike Gold Corp. (“Klondike Gold” or the “Company”) (TSX VENTURE: KG) is pleased to provide an update on 2015 exploration programs on the Lone Star and Dominion Properties near Dawson, Yukon Territory. The announced $800,000 exploration program (see press release February 24, 2015) commenced in late April 2015 (see press release April 30, 2015) and is currently under budget and approximately one month ahead of planned schedule. Klondike Gold owns a 100% interest of 1,406 quartz claims and 14 crown grants covering 250 square kilometers underlying the western half of the Klondike placer goldfields.

In May, Klondike Gold engaged GroundTruth Exploration Ltd (“GroundTruth”) of Dawson, YT as contractor for geophysical and orthophoto surveying. To date a total of 94.3 square kilometers of orthophotography and digital elevation modelling collected by unmanned aerial drone (“UAV”) surveying has been acquired, processed, and rectified to a UTM projection mapping base. The imagery covers the Lone Star and Dominion Properties, as well as the Indian River/McKinnon Creek placer property. The high resolution imagery is an invaluable aid to prospecting and other geoscience surveys. Additional orthophoto surveys are planned.

A total of 677 line kilometers of detailed high-sensitivity ground magnetics surveying over all high-priority areas has been acquired and processed. Magnetics surveying is complete at the Dominion and Lone Star Properties. Additional magnetic surveys are planned for the Sulphur Creek and Gold Run Properties.

Mapping and rock sampling has also been completed at Dominion Property and is well advanced at the Lone Star Property. Potential drill targets have been identified at both properties. Plans for a 2015 drill program are currently in progress.

Dominion Property Results

Magnetics surveying was completed first at the Dominion Property, combined with orthophotography, and used as a mapping and prospecting base for systematic evaluation of trenches and outcrops. Mapping of all trenches was completed in late June and 154 rock grab samples from quartz veins throughout the entire property were collected and assayed during this work. Assays from individual mineralized veins range between 0.2 g/t gold to a high of 48 g/t gold and 50 g/t silver to a high of 509 g/t silver. (This sampling is deliberately selective in nature; systematic test results may vary significantly. A “nugget effect” is evident.) These results, when combined with 2014 sampling (see press release January 19, 2015), continue to show a focussed target area of interest of some 850 meters by 200 meters extent in the central portion of the Dominion Property. Work to date shows this target contains an outcropping array of gold-mineralized quartz veins, sporadically with visible gold, and with individual veins ranging from 0.1 meters to 3.0 meters in thickness. The area has not been diamond drill tested. Interpretation of integrated mapping, magnetic surveying, rock sampling, and structural models is in progress with the intention of defining specific drill targets.

A compilation map of significant (>1 g/t Au) gold assay results for Dominion Property rock grab samples is posted to the Company’s website here (CLICK HERE).

Lone Star Property Progress

Orthophotography surveying is complete and all data has been received. A total of 500 line kilometers of magnetic surveying is complete with 75% of data received. Mapping and sampling is in progress. To date a total of 260 rock samples have been submitted for assay with results pending. Two areas of outcropping quartz veining exhibiting visible gold have been identified and are being developed as drill targets contingent upon positive assays. Specific evaluation using detailed induced polarization (“IP”) chargeability/resistivity surveying has begun on these two targets. Other areas of subcropping quartz vein material also containing visible gold are currently being investigated.

A Class 3 quartz mining land use plan (“MLUP”) permit has been received for the Lone Star Property. The term of the permit is for 5 years expiring July 2020. The Class 3 MLUP permit allows Klondike Gold to conduct advanced exploration activities subject to various conditions including mitigation measures, remediation requirements, and archeological and ecological provisions among others.

Klondike Gold has completed remediation of a 600 meter long trenched area, the “JF” trench, on the Lone Star Property originally excavated some 10 years ago. The Company plans additional remediation of old disturbed areas in conjunction with systematic exploration.

McKinnon Creek Placer

Work also continues at the McKinnon Creek placer property operated under lease for the second year by Todd Hoffman known as “316 Mining”. Under the terms of the lease, Klondike Gold receives a 20% gross (15% net) production royalty which in 2014 netted 202 ounces of placer gold to the Company. The McKinnon Creek placer mining operation is featured on the Discovery Channel show “Gold Rush”. Season 6 of Gold Rush is currently being filmed for broadcast during the fall of 2015.

Geotechnical Information

Klondike Gold samples described herein are selective in nature, non-representative rock grab samples of bedrock or boulders collected to test for the presence or absence of gold and other ‘economic’ minerals. Systematic additional test results may vary significantly. Samples are usually 0.5 kg to 2.0 kg in weight. The Company’s samples are spatially located to within 5 meters using a hand-held Global Positioning System (“GPS”) in NAD83 datum, assigned a unique assay tag, described, photographed using a GPS-enabled camera, then placed in a plastic bag and sealed. Groups of sealed sample bags are aggregated in large fiber bags then security sealed for shipment. The fiber bags were retained in locked storage in the Company’s Dawson office before being delivered by Company personnel directly to the lab. Samples were submitted to Bureau Veritas Mineral Laboratories (“BV Labs”) (formerly Acme Labs) preparation facility in Whitehorse, YT with chemical analysis of sample pulps completed in Vancouver, British Columbia. Bureau Veritas Labs is an accredited ISO 9001:2008 full-service commercial laboratory.

As per Klondike Gold’s instructions, at BV Labs each 1 kg rock sample is crushed to 80% passing 2 mm size. A 250 g subsample is pulverized to >85% passing -75 microns size (Code PRP70-250). A 30 g (1 assay ton) subsample is assayed for gold by fire assay (“FA”) fusion with an atomic absorption (“AA”) finish (Code FA430). All over-limit results in excess of 10 ppm (10 g/t) for both silver and gold are re-assayed. The re-assay uses a 30 g subsample and is assayed by FA with a gravimetric finish (Code FA530-Au/Ag). Samples were also analyzed for multi-element chemistry by ICP-MS analysis (AQ200+U code). Samples over-limit in lead are rerun by a high-detection limit ICP-ES procedure (Acme code MA370).

In addition to analyses of Klondike Gold’s rock samples, analyses were completed on 18 duplicates, 32 blanks, 21 Au-only standards, 18 Ag standards, and 28 ICPMS standards as part of QA/QC process.

The technical and scientific information contained within this news release has been reviewed and approved by Peter Tallman, P.Geo, President of Klondike Gold Corp., and Qualified Person as defined by National Instrument 43-101 policy.

ABOUT KLONDIKE GOLD CORP.

Klondike Gold Corp. is a Canadian exploration company with offices in Vancouver, British Columbia, and Dawson City, Yukon Territory. The company is focused on exploration and development of its Yukon gold projects located in the historic Klondike region covering 25,000 hectares of hard rock and 2,000 hectares of placer claims including “McKinnon Creek” leased to Todd Hoffman/Jerusalem Mining LLC and featured on the Discovery Channel show “Gold Rush”.

On behalf of Klondike Gold Corp.

“Peter Tallman”

President and CEO
(604) 559-4440
E-mail: info@klondikegoldcorp.com
Website: www.klondikegoldcorp.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Disclaimer for Forward-Looking Information

“This press release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward looking information. Such forward-looking information and statements are frequently identified by words such as “may,” “will,” “should,” “anticipate,” “plan,” “expect,” “believe,” “estimate,” “intend” and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of Klondike in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown risks and uncertainties that may cause Klondike’s actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon. Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management’s Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com. Klondike disclaims any obligation to update or revise any forward-looking information or statements except as may be required.”

SOURCE: Klondike Gold Corp.

ReleaseID: 430619

VANCOUVER, BC / ACCESSWIRE / July 16, 2015 / AndeanGold Ltd. (TSXV: AAU) (BVL: AAU) (“the Company” or “AndeanGold“) wishes to announce that Mr. John M. Siriunas, M.A.Sc., P.Eng., géo, has been appointed as the Vice President — Administration and Exploration for the Company.

Mr. Siriunas, a “Qualified Person” per the definition of National Instrument 43-101, brings over thirty-five years of exploration and junior-mining company management experience to AndeanGold; his resumé includes extensive experience working in Perú and Chile.

Mr. Alexander Peña B., CEO and President of the Company, remarked “We welcome the addition of expertise that Mr. Siriunas brings to the management of our Company, on both sides of the coin: not only outstanding geotechnical knowledge, but management skills needed to assist in the operation of a junior mining company. AndeanGold looks forward to a renewed campaign toward the development of its premier mineral properties in South America with the support of Mr. Siriunas”.

About AndeanGold Ltd:

AndeanGold Ltd. is engaged in the acquisition, exploration and potential development of base- and precious-metals properties, principally in Perú and Ecuador. The focus of the Company’s current exploration activities is in advancing its Urumalqui Project in La Libertad, Perú.

In Ecuador, the Company’s activities have been limited to maintaining its three properties in good standing. Please refer to AndeanGold’s website at www.andeangoldltd.com or information posted at www.sedar.com for further information on the Company’s projects and activities.

AndeanGold Ltd. trades with symbol AAU on the TSX Venture Exchange and currently has 112,046,579 shares outstanding (132,987,757 fully diluted).

On Behalf of the Board of Directors of
ANDEANGOLD LTD.
Alexander Peña Böttcher
CEO and President

FOR FURTHER INFORMATION PLEASE CONTACT the CORPORATE OFFICE:
Alexander Peña, AndeanGold Ltd.
Phone: (51) 94020.8400 | (51) 1.252.4407
Email: alexander@andeangoldltd.com
Skype: alexander.pena.bottcher
Website: www.andeangoldltd.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: AndeanGold Ltd. 

ReleaseID: 430638

WHITEFISH, MT / ACCESSWIRE / July 16, 2015 / There are many different ways to profit from the burgeoning cannabis industry, ranging from GrowBLOX Sciences Inc.’s (OTCQB: GBLX) growing solutions to Medbox Inc.’s (OTCQB: MDBX) dispensing technologies to Cannabis Science Inc.’s (OTCQB: CBIS) focus on the medicinal properties of the plant, but cannabis testing could be the most compelling.

Cannabis testing is expected to generate close to a billion dollars in revenue by 2020, according to a new report by GreenWave Advisors, a comprehensive independent research firm focused on the emerging legal cannabis industry.

“It’s an exciting time to be in lab testing, because it’s one of the subsectors within the cannabis industry that we believe is sustainable as laws change,” said GreenWave Advisors Founder Matthew Karnes. “We view this as the most attractive subsector of the industry.”

Mr. Karnes points to a number of factors that make lab testing such an attractive subset of the emerging industry. While there’s a large initial investment required to establish a lab, which effectively creates a barrier to entry for competitors, existing labs operate with gross margins of between 60% and 65% with predictable recurring revenue driving strong free cash flow. The expansion of services beyond testing – into things like data analytics and consulting – could push these margins closer to the software industry’s 90%+ gross margins.

Ample Room For Growth

“We expect a little north of five million pounds of marijuana to be tested by 2020, which transcends into about $565 million [in lab testing revenue],” said Mr. Karnes. “And then, if you gross that up for other services – the data analytics and consulting – you get north of $850 million. But, it’s likely that our estimates are conservative, because testing will become less significant as a part of the total revenue mix as time goes on.”

GreenWave Advisors sees the market as very bifurcated at the moment, with regulations varying between states and no consistent national framework; however, the firm believes these dynamics will change as the industry matures. Mr. Karnes projects that large existing cannabis labs will be the biggest winners in the space, as they reach economies of scale, while smaller labs will be forced to consolidate or go out of business.

DigiPath (OTCQB: DIGP) Labs Actively Testing Product

The initial DigiPath lab is located in Southern Nevada and targets the booming City of Las Vegas, which is expected to benefit handsomely from the recent legalization of medical marijuana. With a program that supports reciprocity, out-of-state medical marijuana users will be able to access medicine during their trip to Las Vegas, and with over 40 million visitors a year to Las Vegas, sales are expected to be brisk.

“We opened our flagship lab about 35 days ago and we’re one of only two labs open in Southern Nevada,” said DigiPath Inc. CEO Todd Denkin. “Our plan is to duplicate this lab in all states where marijuana has been legalized.”

“The Department of Health has predicted that 540,000 pounds of marijuana will need to be grown to meet demand in the State of Nevada,” said Mr. Denkin. “Right now, we are going to focus in on the Las Vegas market and figure out how the market moves to see if we need to open something in Northern Nevada.”

While Las Vegas represents a compelling near-term opportunity, the company’s long-term goal is to expand into all states where marijuana has been legalized in order to become a predominant leader in the cannabis testing space.

“We are exploring different opportunities in various states right now,” says Denkin. “We are looking for maybe some struggling labs or maybe some up and coming labs as well. Our plan is to either buy or acquire or just go ahead and apply ourselves in these states.”

Cannabis investors may want to take a look at DigiPath as a leading player in the rapidly growing cannabis testing industry.

For more information, visit www.digipath.com. To learn more about it’s recently opened Nevada-based laboratory and potential expansion opportunities ahead visit www.digipathlabs.com.

Legal Disclaimer:

Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Important factors that could cause these differences include, but are not limited to, the demand for the company’s services and the company’s ability to execute its business plan. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claim to provide investment advice or recommendations to readers of this release. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and may increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, has been compensated for its services in the form of cash and equity securities by DigiPath. For full disclosure please visit: http://www.cannabisfn.com/legal-disclaimer/.

SOURCE: Cannabis Financial Network

ReleaseID: 430613