Synergetics USA, Inc (Nasdaq:SURG) announced that David M. Hable, President and Chief Executive Officer, will make a presentation at the Stephens, Inc. Fall Investment Conference on Wednesday, November 16, 2011. The Conference will be held at The New York Palace Hotel in New York City and Mr. Hable’s presentation is scheduled for 8:30 a.m. Eastern time.
Synergetics USA, Inc., a medical device company, engages in the design, manufacture, and marketing of microsurgical instruments and consumables primarily for ophthalmology and neurosurgery markets in the United States and internationally.
Majestic Gold Corp. (MJGCF.PK)
Majestic Gold Corp. engages in the exploration and development of mineral properties in China. The company focuses on its gold project located in the prolific gold region of Song Jiagou in eastern Shandong Province. Majestic Gold Corp. is headquartered in Vancouver, Canada.
Majestic Gold Corp. (MJGCF.PK) has arranged a $10,000,000 loan to advance its Song Jiagou project in China. Nine million dollars ($9,000,000) from the proceeds from the loan will be used by the Company to in connection with its Song Jiagou project and the balance of one million dollars ($1,000,000) for general working capital purposes.
The loan will have a one year term and loan principal will be convertible at the option of the lender in whole or in part into common shares (”Shares”) of the Company until twelve months from the date of the loan advance at the price of $0.205 per Share. The loan will bear interest at the rate of 7.5% per annum, payable on maturity, and accrued and unpaid interest will be convertible at the option of the lender in whole or in part into shares of the Company until twelve months from the date of the loan advance at Market Price at the time of conversion.
The lender is at arm’s length from the Company and will not become an insider as a result of any conversion of principal and interest. All shares issued on any conversion of loan principal or interest will be subject to a four month hold period from the date of advance of loan proceeds. The loan is subject to acceptance by the TSX Venture Exchange.
As additional consideration for the loan, the Company has agreed to forward at least $9 million to Majestic Yantai Gold Ltd., a British Virgin Islands company owned 94% by the Company to be used to further advance its Song Jiagou project. The Borrower has also agreed to a 90 day period for reciprocal due diligence reviews and discussions for the possible further involvement of the Lender in the Song Jiagou project.
In the event that no further agreement is reached between the Lender and the Company during the 90 day period, then the loan and a minimum of seven (7) months interest will automatically convert to shares in the Company at a price of $0.205 per share and the interest at Market Price respectively. In addition the Company is pleased to announce that it has arranged a non-brokered private placement of up to 15,000,000 shares to be issued at the price of $0.20 per share for gross proceeds of $3,000,000.
Gold has all of the qualities needed to maintain a stable and low contact resistance over the operating life of most applications. Because gold is a noble metal, it does not chemically interact with any constituents normally found in a connector environment to form an electrically insulating film. Gold is also a good electrical and thermal conductor.
For more information about Majestic Gold Corp please visit http://www.majesticgold.net
ArQule Inc. (Nasdaq:ARQL) reported its results of operations for the fiscal quarter and nine months ended September 30, 2011. Company reported a net loss of $2,260,000 or $0.04 per share for the quarter ended September 30, 2011, compared to a net loss of $6,394,000 or $0.14 per share for the quarter ended September 30, 2010. For the nine-month period ended September 30, 2011, the Company reported a net loss of $14,530,000 or $0.28 per share, compared to a net loss of $24,373,000 or $0.55 per share for the same period in 2010.
ArQule, Inc., a clinical-stage biotechnology company, engages in the research and development of cancer therapeutics directed toward molecular targets and biological processes.
Rovi Corporation (Nasdaq:ROVI) announced a major update to its Rovi Advertising Network aimed at providing marketers with advanced tools for driving higher rates of engagement with TV advertising across set-top boxes, connected TVs, media players, game consoles and more. New features are designed to enable consumers to more fully interact with the products and services that interest them — from immersing themselves in related multimedia content and social networking activities, to requesting more information and making direct purchases.
Rovi Corporation provides digital entertainment technology solutions for the discovery and management of entertainment content.
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