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Avis Financial is an innovative, integrated business development engine that assists small and medium-sized enterprises (SMEs) in realizing their full potential. Involved at every step of the way, Avis Financial provides a truly comprehensive package of services to its portfolio companies, who further benefit from a high-profile brand, a major international network and extensive business expertise.
Avis Financial’s services include capital and operational restructuring, business development and placement preparation. To ensure that its portfolio companies receive support at every level, Avis Financial works with a large network of affiliates providing business services and capital services.
Avis Financial Corporation was originally established by Warren Avis, one of the pioneers of the Rent-A-Car business. A groundbreaking attitude and a constant search for new ways to evolve and grow are what continue to drive the Avis brand today. It is with this spirit of innovation that Avis Financial does business.
E.S.I. Environmental Sensors Inc. has signed a distribution agreement with Beijing Yanyu Water Technology Company Ltd., a subsidiary of Tri-Tech Holding Inc. With operations in China, the United States and India, Tri-Tech provides turnkey water resources management, water and wastewater treatment, water-efficient irrigation, and industrial emission and safety control solutions, with fiscal 2012 sales of $72.6-million.
ESI and BJYY/Tri-Tech held initial meetings over 1-1/2 years ago. Since that time, the parties have worked together toward, firstly, the testing and national acceptance of ESI's sensing technology for the Chinese market, and, secondly, an agreement on an exclusive partnership for China.
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Aliquantum has succesfully errected the first sample house in Uruguay, verifying the company's concept for prefabircated housing solutions.
The Company will use this first house as a showcase for various customer groups from Uruguay and other Latin American countries, who have shown significant interest in the Company's house concept.
The high level of standardization, possible through a modular design, achieved by prefabricating those modules centrally on a large scale basis, makes it possible to offer easy-to-build homes at quality price-levels and rapid execution times.
We are currently building two more sample houses in order to showcase the concept to interested governemnt groups at further prominent sites in Montevideo. Meanwhile, Avis Financial expects to receive a large quantity of orders from Uruguay and Latin America within a short periode of time for the LOGOS house type.
Avis Media is pleased to annouce that the company has signed a contract to provide IPTV solutions for the Sheraton Towers in Chennai, member of the ICT Hotels group. The Company will equip all 350 rooms with the latest, state of the art in-room entertainment systems and digital singage solution, the project conclusion is scheduled for the beginning of the first quarter 2013.
Launched on October 18, 1975, ITC Hotels is today one of India's finest hotel chains. The distinctive logo of hands folded in the traditional Namaste way is widely recognised as the ultimate symbol of Indian hospitality.
With more and more hotels being added at strategic destinations, the ITC Hotels group joined hands with the Sheraton Corporation to strengthen its international marketing base.
Management is pleased to report that it has entered into an agreement to purchase a 100% interest in nine claims, 52 claim units (832 Ha), contiguous to the Company''s properties in the Shinning Tree and Timmins South mining camps, Ontario for a consideration of 200,000 common shares in the Company which are subject to a four month trading hold period and subject to the transaction being accepted by the Toronto Stock Exchange Venture.
This acquisition will further extend the Company''s land position in the Shinning Tree and South Timmins mining camps to a total of 361 km2. If accepted, this will consolidate and add to the Company''s large and highly prospective, strategic land package along the Larder Lake fault between the Young Davidson Mine and the Côté Lake deposit. IAMGOLD has a recently updated its National Instrument 43-101 resource estimate on Cote Lake by 274%, to 3.56 million indicated ounces. The acquisition includes 40 additional claim units in Moher township, which increases the Company''s Nursey Lake property to 902 claim units (144.32km2); five additional claim units, four in Halliday township and one in Sothman township, increasing the Company''s Halliday Lake property to a total of 111 claim units (17.76km2); and seven claim units in Sothman township, increasing the Company''s Red Vein Property, which extends from the Shining Tree Camp into the South Timmins Camp, to a total of 1,246 claim units (199.36km2).
Management is pleased to report that the Company has closed a private placement organized by the Company for $185,000. The financing is comprised of 37 units at $5,000.00 per unit. The funds will be used for exploration purposes on the Company''s projects in Canada and in Italy, and for general corporate purposes.
Eternus plans to visit Adroit's Italian project and management in Belgium as part of their due diligence process. Provided Eternus raises a minimum of C$2,000,000 within the duration of their 180 day mandate, Adroit will grant to Eternus a 30 day exclusivity period for each round of fund raising undertaken by Adroit with 24 months of the signing of the mandate up to a total of C$20,000,000.
Eternus is a leading independent investment bank in India owned by its managing director, Mr. Rohit Kakkar. Eternus is focused on providing financial advice on mergers and acquisitions and fund raising to corporations in the sectors of metals and mining, oil and gas and the entire spectrum of the energy industry.
Appointment Termination: The agreement with Meadowbank Asset Management Inc. to provide investor relations services to Adroit was terminated on July 31, 2012 by mutual agreement and the 500,000 common share options, exercisable at a price of $0.10 per common share, granted under the terms of the agreement, have been cancelled.
Management is pleased to announce the acquisition of thirty-seven new claims (585 claim units) located in Moher and Semple Townships. The claims are located to the northwest of Adroit's expansive 190 km2 Red Vein Property and adds to the Company's growing property portfolio in this under-explored part of the Abitibi Greenstone Belt in Ontario. The new claims extend the Nursey Lake Property to over 169.9 km2 located in Nursey, Burrows, Semple and Moher Townships.
"Along with Halliday Lake and the Red Vein properties, we now have over 386 km2 in a very prospective area. We believe our geological model has been validated by the discoveries of SGX Resources and others in area. These properties are in the centre of one of the worlds' most prolific mining areas, situated in the triangle between the established mining camps of Timmins, Sudbury and Kirkland Lake, where more than 170 million ounces of gold and 200 million tons of base metals have been mined," said Adroit Resources President, Graeme Rowland.
Mark Fedikow, Ph.D., P.Eng., P.Geo., C.P.G., has verified and approved the geoscientific information contained in this news release. Dr. Fedikow is a Qualified Person as defined in National Instrument 43-101 (Standards of Disclosure for Mineral Projects).
Management is also pleased to report that on June 19, 2012 the TSX Venture Exchange accepted for the Company's Shares for Debt application to settle debts totaling $440,400.92 by issuing 8,808,018 common shares at a price of $0.05 per share.
Adroit Resources President, Graeme Rowland, states: "We are very happy that the three new permits have been granted. Each of the permits is very promising. Along with the other permits we already hold in the Greater Manciano area, we believe we can renew the area's reputation as one of the world's largest antimony producers.
Antimony is a strategic metal, whose price has reached $13,100/tonne ($5.94 per pound); antimony is doing very well in the market, especially when price trends are measured against other strategic metals." The three new exploration permits granted cover 1,696 Hectares (Ha) and are called Valle Lupara (388 Ha), Catabbio (926 Ha) and Selvena (382 Ha). With the new permits Adroit has almost doubled its area of exploration in Italy, giving a total land package of 3,835 Ha.
The Greater Manciano area was a significant global producer of antimony. Exploration and resource evaluations carried out in the 80s indicate the presence of considerable historic antimony resources within Adroit's permits. The mineralization occurs near surface, and remains open in several directions.
Finder's fees of $2,880 and 48,000 two year, non-transferable common share purchase warrants on the same exercise terms will be paid to arms length parties in accordance with TSX Venture Exchange policy with respect to this private placement.Management is pleased to report that the Company has closed a private placing organized by the Company for $500,000. The Company's February 13th, 2012 news release refers. The financing is comprised of 100 units at $5,000.00 per unit. The funds will be used for exploration purposes on the Company's projects in Canada and in Italy and for general corporate purposes.
Adroit Resources is pleased to announce that the Company has filed shares for debt agreements to settle debts totaling $448,801 by issuing 8,976,020 common shares at a deemed price of $0.05 per share.
Management is pleased to report that the Company has received agreements for and closed a $36,000 flow through private placement. The financing is comprised of 600,000 units at $0.06 per unit.
Adroit was recently invited to meet with the European Commission's special adviser on raw materials, Mr. Mattia Pellegrini. The Commission was interested to learn that Italy has the potential to be the world's second-largest producer of antimony after China, based on current global production.
Adroit President and CEO Graeme Rowland stated: "The EU has recognized the importance of this strategic metal (antimony), and is doing everything within its powers to meet the EU's need for antimony. We were very pleased with the genuine interest in Italy's potential and welcomed the Commission's new measures."
Avis Media is currently negotiating with several major luxury-hotel chains based in India to provide media solutions for their high-end room segments. The hotels' main focus has been to upgrade their current media entertainment facilities in all upper and luxury class properties for several of their major Indian sites. Titian Media, Avis Medias' partner in the Indian hospitality market, has been a market leader for the Indian hospitality sector for the last 11 years, with clients including 'The Leela Kempinski', 'Taj Group of Hotels', 'ITC Group of Hotels', 'Star India Limited', and 'Bennett Coleman & Co Ltd. This joint-venture offers Avis Media an excellent opportunity to penetrate the rapidly growing Indian IPTV and OTT hospitality sector
Several months of meetings by management on the viability of a tailings remediation program with local mayors, local authorities and the Mines Department, led to a recent meeting with the Tuscan Regional Authority. Senior officials offered a series of constructive suggestions on how to advance the process and operations could commence within twelve months. Management is pleased to announce its intention to extend the operations of Adroit's wholly-owned subsidiary, Risorse dei Minerali Naturali Srl (RMN), into the remediation of tailings in Grosseto Province, Tuscany, Italy.
President Graeme Rowland states: " We will reinvest any profits into the exploration and development of the whole project. The Company has not completed a feasibility study and there is no certainty the proposed operations will be economically viable. In carrying out this work, we will be helping local authorities to meet their statutory obligations of dealing with mining waste, y remediating that waste. Grosseto has been a prolific mining region for centuries; many of the tailings are rich in metals that were mined in a time when recovery rates from extraction were relatively low. Technology has since improved and metal prices are much higher."
Local Authorities are legally responsible for ensuring that tailings do not have a negative impact on public health and the environment. Grosseto Province has a long history of mining with over 3,000 historic and 577 current mines. As a result, there are large quantities of mine waste at surface.
Permit Applications Update. A total of nine permits were applied for last fall. Applications for two year extensions were made for Adroit's existing six exploration permits, Adroit's November 8, 2011 news release refers and three new exploration permits by RMN were also filed, Adroit's October 19, 2011 news release refers.
Adroit announces that Forage Perfection Inc. (Notre-Dame-du-Nord, Quebec) has completed an 1,818 metre drill programme in three holes testing high-conductance IP targets on its Little Pigeon Lake property (Shining Tree Mining Camp). The targets selected for drilling were defined by a recent ground geophysical survey undertaken by Larder Geophysics Ltd. (Larder Lake, Ontario.) and ongoing prospecting and geological mapping by Adroit. The targets included discrete chargeability anomalies in the immediate vicinity of an extensive high-grade copper-gold quartz vein and a large chargeability anomaly that underpins the vein at depth. This quartz vein occurs over a strike length of 6.25 kilometres on the Little Pigeon Lake property and has had numerous chalcopyrite-mineralized localities mapped along it by the Ontario Geological Survey. Currently, the drill core is being logged and sampled at the Adroit core storage and preparation facility in Cobalt, Ontario. Results of assays will be announced in a subsequent news release.
President Graeme Rowland said: "We are pleased to announce the completion of our drill programme designed to test IP anomalies associated with our high-grade copper-gold vein on the Little Pigeon Lake property. With this programme we will begin to understand the geological setting of the vein that we believe has similar characteristics to those exhibited by the Hollinger-MacIntyre-Coniorum Complex at Timmins. It is our intention to progressively assess the entire 6.25km strike-length of this vein by undertaking geological, geophysical and geochemical surveys which, when integrated, will define drill targets."
The project is part of the Company's Red Vein Property and is situated in the heart of a highly productive mining triangle between the established centers of Timmins, Sudbury and Kirkland Lake, where more than 170 million ounces of gold and 200 million tons of base metals have been mined. Subsequent to data compilation and integration, significant exploration targets have been identified on the project.
Adroit Resources has received subscription agreements for $500,000 in a private placing organised by the Company. The financing is comprised of up to 100 units at C$5,000.00 per unit. Each unit is comprised of one hundred thousand (100,000) common shares and fifty thousand (50,000), two year, transferable common share purchase warrants. Each warrant entitles the warrant holder to purchase one common share at a price of C$0.10 per share in the first six months, at a price of C$0.15 per share in the following six months or at price of $0.25 per share in the final year. The funds will be used for exploration purposes on the Company's projects in Canada and in Italy and for general corporate purposes.
Adroit reports it has received and accepted three further private placement subscription agreements for a total of $25,000 from European investors thereby increasing the $275,000 private placement announced on December 19th, 2011 to a total of $300,000. The total financing is comprised of 60 units at C$5,000.00 per unit. Each unit is comprised of one hundred thousand (100,000) common shares and fifty thousand (50,000), two year, transferable common share purchase warrants. Each warrant entitles the warrant holder to purchase one common share at a price of C$0.10 per share in the first six months, at a price of C$0.15 per share in the following six months or at price of $0.25 per share in the final year.
Adroit announces that the company has signed a 4,000 meter (minimum 1,500 meter) diamond drill contract with Forage Perfection Inc. of Notre-Dame Du-Nord, Quebec. Drilling is to commence no later than January 23, 2012 on the Little Pigeon Lake section of a 2.3 km strike length copper-gold-bearing quartz vein associated with a suspected copper-gold-silver mineralized porphyritic intrusion. The vein varies in width between 0.8 to 5.0 m. The area has long been one of intense interest, located in the heart of the exploration triangle of the three large Ontario mining camps of Timmins (80 km due North), Sudbury (150 km due South) and Kirkland Lake (75 km Northeast). There are 30 VMS deposits over 200,000 tonnes of massive sulphide within 200 km of the Red Vein property as well as numerous historical copper showings on the property and gold showings abound in the surrounding area.
Adroit Resources Inc. is pleased to announce that it has arranged to raise $250,000 by way of a non-brokered private placement of 4,166,666 flow through units at the price of $0.06 per unit. Each unit will consist of one (1) flow-through common share and one-half (1/2) of one non flow-through share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share for $0.10 for six months after closing, for $0.15 during the following six months and for $0.25 during the second year after closing.
The proceeds from this private placement will be used for exploration of the Company's mineral properties in Ontario, Canada. No "control person" (as defined in Policy 4.1 of the TSX Venture Exchange) or new insiders will be created as a result of the private placement. On closing, the Company will pay finder's fees in respect of the private placement in accordance with TSX Venture Exchange policies. The proposed financing is subject to TSX Venture Exchange acceptance.
ESI is pleased to announce the appointment of Matteo Beffa to the Board of Directors for the Company. The Company continues to execute its new strategy with regard to board and executive management restructuring. Appointed as a Director at the Company's Annual and Special Meeting, Mr. Beffa adds his irrigation industry experience and expertise to the Board.
Educated and trained as an agricultural engineer, Mr. Beffa brings extensive expertise and experience in agricultural/recreational irrigation to the Board of ESI. Mr. Beffa spent five years at Toro's Swiss subsidiary, where he restructured the irrigation department (distribution, marketing, technical) and handled key accounts in the Swiss Golf-Turf market. As part of an independent assignment, Mr. Beffa played a vital role in developing one of the first rainwater drip irrigation systems. In 2005, Mr. Beffa founded his own company, 'MultiOne Suisse', where he now focuses on import and distribution of landscaping, agriculture, and irrigation equipment for green areas. Mr. Beffa has obtained a Diploma in Agriculture and has supplemented his diploma with advanced education in Agro-Economics and Business Management in Zurich, Switzerland. In addition, Mr. Beffa is fluent in German, English, Italian and French.
Adroit is pleased to report that it has received and accepted private placement subscription agreements for a total of C$ 500,000 from Matrix Canadian Resource Fund and mainly European investors. The financing is comprised of 100 units at C$5,000 per unit. Each unit consists of 100,000 common shares and 50,000 warrants. The funds will be used for exploration purposes on the Company's projects in Canada and in Italy and for general corporate purposes. Adroit's President's comments: "I am particularly delighted to welcome Matrix Canadian Resource Fund as an investor and sincerely appreciate the support and confidence of its manager who is regarded as one of the best resource managers in the country."
The Italian Regional Environmental Impact Assessment office (Ufficio Valutazione Impatto Ambientale VIA) has approved Adroit Resources Inc.'s application to drill 4,000 metres (20 holes) to confirm and, possibly, extend the historical resource and to provide the first step for an NI 43-101-compliant resource calculation on its I Salaioli exploration permit in southern Grosseto province, Italy.
Management is pleased to announce that Adroit has applied to increase its existing drilling applications from a total of 27,000 meters (313 holes), by 19,820 meters (197 holes) to a total of 46,820 meters (510 holes) and for two year extensions for its six existing exclusive exploration permits in Grosseto Province, Italy covering approximately 2,139 hectares (some 21km²) of terrain prospective for antimony, gold and silver mineralization.
Mr. Rowland, Adroit's President comments: "Most exciting for me is the discovery on Poggio Pietricci of the Antimony mineralization between the existing Macchia Casella extension historical resource and the old high grade Macchia Casella mine, identified by our soil sampling. This significantly increases the Antimony potential of this property."
Adroit's Italian subsidiary has applied for three new exploration permits in the greater Manciano district of Grosseto province, Italy. Adroit already holds four exploration permits in this district (Poggio Pietricci, Faggio Scritto, Poggio Monticchio and I Salaioli).
The three new exploration permits applied for total 1,696 hectares and are situated in a historically rich antimony and mercury mining regions. Mr. Rowland, Adroit's President's comments:
"While our primary focus at the company has shifted to antimony, it should be recalled that antimony and mercury are established pathfinder metals for gold mineralization, which is also present in the area. These current applications are intended to increase the commercial viability of Adroit's stated objective of recommencing the mining of antimony and other metals, which will then allow for the continued systematic exploration for gold."
Management is pleased to announce ongoing preparations for a winter drilling programme at the Company's Red Vein VMS property in the Shining Tree mining district of Ontario. The Company plans to drill this coming winter on both the Little Pidgeon Lake and Grassy Lake portions of its Red Vein property.
On the Little Pidgeon Lake area a winter drill road has been prepared and applications have been filed to construct a water crossing leading into the proposed winter drill sites. In addition, the Company plans to undertake additional geophysical surveys to further delineate targets on both the Grassy Lake and Little Pidgeon Lake portions. A helicopter-borne VTEM survey is planned along with the extension of existing grids for more IP surveys.
More infra-structure has been completed at the company's exploration base in Cobalt Ontario, with a state of the art core shack/storage warehouse adjacent to the company's Exploration office, nearing completion. The Company has also continued its aggressive staking programme in this under-explored area of the Abitibi greenstone belt by increasing its Red Vein property to 926 from 734 contiguous claim units (14,816 hectares from 11,744).
BGS has issued its Risk List 2011, giving a relative risk listing of 52 chemical elements or element groups needed to maintain our economy and lifestyle. Only four are listed in the very-high-risk group: antimony, platinum group elements, mercury and tungsten.
Antimony has many diversified and indispensable uses for both commercial and military applications. Antimony prices recently soared as global demand surges and output considerably declined as Hunan province, China's largest producing region, curbs output to comply with central-government restrictions. China reportedly contributes around 90 per cent of world output.
An Olympus Innov-X XRF Delta Premium system has been installed in the Grosseto office, and a sampling and quality assurance/quality control protocol is being set up for the analysis of rock and soil samples taken during the past few months (828 samples taken from the Poggio Pietricci, Faggio Scritto, I Salaioli and Poggio Monticchio antimony properties). This will allow for the rapid analysis of these samples and eventually for the selection of relevant batches that will be sent for more appropriate laboratory analyses. The soil sampling program is still continuing in the Poggio Monticchio and I Salaioli properties.
The President comments that 'it is of note that rare earth elements are listed below the very-high-risk group by the BGS. Not only will the Innov-X XRF system speed up results, but also save significant assaying costs on an ongoing basis.'
In response to poor market conditions, management reports that the Company has agreed to raise up to $600,000 in a new private placement. The new financing is comprised of up to 100 units at C$6,000.00 per unit, for gross proceeds of up to C$600,000. The funds are for use in the exploration of its Red Vein VMS Copper/Zinc property in Ontario, its Italian Antimony project and general working capital. The new private placement is subject to regulatory approval.
Management is pleased to announce the completion of a four-month summer exploration programme at the Company's Red Vein VMS property in the Shinning Tree mining district of Ontario. The primary focus was on the Grassy Lake and Little Pidgeon Lake portions of the property. A ten man field team completed geologic mapping, surface rock chip sampling for whole rock and multi-element analyses, ground-proofing of winter geophysical results, outcrop blasting and trail cutting from a bush camp near Little Pigeon Lake.
At 'Little Pidgeon Lake', the field team successfully correlated surface expressions with the deep I.P. survey and generated a number of drill targets. The new targets are located on the western end of the previously identified quartz/copper vein; the east-west trending vein has a recognized strike length of 2.3 km. At 'Grassy Lake', the field team carried out an additional program of Mobile Metal Ions ("MMI") sampling portion and intends to extend a VTEM survey over this part of the property. The Company plans to drill this coming winter on both the Little Pidgeon Lake and Grassy Lake portions of its Red Vein property.
Adroit has continued its aggressive staking program in this under-explored portion of the Abitibi greenstone belt by increasing its Red Vein property to 734 from 604 contiguous claim units (11,744 hectares from 9,664). Adroits president's comments: 'I am recently returned from visiting this increasingly exciting property and am looking forward to the next drill programme with great interest.'
Small World Financial Services Group and Choice Money Transfer today announce that the merger between the two companies has gained the required regulatory approvals and has successfully completed. The closing of this transaction creates one of the world's largest money transfer organizations. The new combined entity, to be known as the Small World Group, trades across Europe and North America, processing in excess of 600'000 transactions per month and with a payment network in excess of 150,000 locations.
Adroit Resources Inc. has closed its non-brokered private placement of 102 units at $10,000 per unit. Each unit consists of 100,000 common shares and 50,000 two-year warrants at a price of 15 cents per share in the first four months, at a price of 25 cents per share in the following eight months and at a price of 35 cents per share in the final year. The finances will be used for exploration purposes on the company's projects in Ontario, Canada, and in Grosseto province, Italy, and for general corporate purposes.
Avis Media showcased its proprietary hospitality platform with Etisalat (and further collaborators such as LG, Swiss Bureau, Al Falak/ VisioSat, TriDensa/ Lodgenet and Televes ME) at the Hotel Show in Dubai between 17th-19th May 2011.
Commenting on the outcome of this collaboration, Abdulla Hashim, Senior VP, ICT at Etisalat, said: "Hotels in the UAE will be able deliver a truly unique and unmatched communications and entertainment experience to their guests by aligning voice, data and TV services, through a single touch point. Moreover, with this unique combination of customer-centric services, the solution will not only streamline service delivery mechanism for hotels, but will also provide higher operational efficiencies and significant cost savings to them."
Adroit has logged all 12 diamond drill holes from its 4,061-metre winter program at Grassy Lake. It has shipped a total of 1,535 samples for assaying and expects to receive all assay results by late May, 2011. These results will be published once evaluated by the company's technical team.
In Italy, the company has applied to the authorities to increase its exploration work permit to allow for a 20-hole, approximately 4,000-metre diamond drilling program on its wholly owned I Salaioli property in the Scansano area, Grosseto province. The 366-hectare permit contains a reported 35,000 tons of 2.0 per cent historic antimony resource. The company has not yet independently verified the historical reports, but the objective of this drilling program is to confirm and possibly extend the historical resource, to provide the first step for a later NI 43-101-compliant resource calculation. Adroit expects to receive the authorization to drill in the fall of 2011.
In other news, Adroit Resources Inc.'s management reports that the 19-cent private placement financing is now closed with gross proceeds of $965,287. The private placement proceeds will be used for the company's Italian and Ontario, Canada, projects, plus general working capital.
Environmental Sensors Inc. is pleased to announce the appointment of Stephan Radermacher (COO Avis Financial Corporation) and Johan Grandin to the Board of Directors for the Company. The Company continues to execute its new strategy with regard to board and executive management restructuring as well as innovative market-driven product development.
Johan Grandin has over 20 years of experience working with public companies and a proven track record in raising venture capital. Currently working with Element and Associates of Vancouver, BC, a full service corporate finance company, Mr. Grandin brings an extensive expertise in corporate financial restructuring and capital markets to ESI. Through his past officer and director positions for various public issuers, Mr. Grandin has learned to streamline growth initiatives with precision. Having also worked in the field of engineering, Mr. Grandin holds a Masters of Science degree in Business Economics and Engineering Physics.
In addition to the above changes, Ian Middleton, Nicolas Loebel and Edwin Mitchell are stepping down from the Board of Directors of ESI. The new Board of Directors and executive management team look forward to continuing with recent product development initiatives and enhancements as they move the Company to financial and market success.
Adroit Resources Inc. has applied to the Italian authorities to increase its exploration work permits to allow for a 293-hole, approximately 23,000-metre, diamond drilling program on its wholly owned Poggio Pietricci and Faggio Scritto properties, in the Manciano area, Grosseto province, Italy.
The objectives of this drilling program are to confirm and, possibly, extend the historical resources, and to provide for an NI 43-101-compliant resource estimate.
A new SDI-12 version of ESI's GroPoint Lite soil moisture sensor is now available. This new SDI-12 output will appeal to markets for existing and new irrigation systems, as well as OEM sellers. ESI is now working with key accounts to establish 2011 product needs and requirements.
The new, small, sleek, lightweight sensor is extremely easy to install and will meet the input requirements of newer irrigation controllers now being offered by several manufacturers. This new version of GroPoint Lite is an analog sensor with a SDI-12 interface and output, offering a host of advantages to potential users:
The next evolution in ESI's GroPoint soil moisture sensor development will be the development of a range of profiling sensors using both the GroPoint Lite and GroPoint Pro soil moisture sensor technologies. Using SDI-12 technology allows for multiple sensor data points on a single recorder and communication pathway, lending the two sensor technologies to relatively simple and scalable development of future profiling sensors. This presents a unique opportunity for ESI to be the only sensor company offering a highly accurate TDT-based (time-domain transmissiometry) profiling sensor to the market.
Adroit Resources Inc. has concluded its winter 2011 diamond drill 4,061-metre program of 12 holes on the company's Grassy Lake portion of the Red Vein property.
Ten of the 12 diamond drill holes have been logged and 822 samples have been shipped to AGAT Laboratories Ltd., Mississauga, Ont., for assaying. An additional 95 samples have been sent to ALS Canada Ltd., Vancouver, B.C. for whole rock assay. Adroit anticipates that, once the final two holes have been logged, at least a further 100 samples will be shipped for assaying. Adroit expects to receive all assay results by mid-April to late April, 2011. These results will be published once evaluated by the company's technical team.
Next drill program
Management is planning a 5,000 m follow-up diamond drill program in June, 2011, to further extend the understanding of the geology by testing some more of the numerous targets on all zones. The Red Vein 5,936-hectare property is located within the southern part of the Abitibi green stone belt in the Shining Tree area of Northern Ontario, and is highly prospective for copper, zinc and gold.
Expropriation claim settlement received.
The company's counsel has received the sum of $110,000 from the government of British Columbia in settlement of the company's claim, thereby ending the legal case.
According to the newly completed IMS Research study IPTV: A Global Market Analysis – 2011 Edition, the worldwide IPTV subscriber base in 2015 will exceed 70 million. Currently, the market size is roughly 36.5 million.
This doubling of the market will mainly result from increased demand across Western Europe and – perhaps unsurprisingly – China (with yearly double-digit growth rates), says John Kendall, Market Analyst at IMS. Kendall further points to Latin America's market potential and alludes to the rapid recent IPTV growth in Eastern European countries like Croatia, Slovakia, and Slovenia.
According to IMS' study, IPTV will also play a large role in the hospitality market, with set-top box shipments expected to increase by 75% from 2010 to 2015 as hoteliers begin to realize the flexibility and scalability of the platform. As Kendall states, 'hoteliers are recognizing the value of the IP platform and are increasingly moving to adopt it.'
With its focus on IPTV solutions, particularly in the hospitality market, Avis Media is perfectly positioned to capitalize on this growth over the next years.
While Avis Financial's portfolio companies ESI and Avis Media are perfectly positioned for the high-potential future markets of intelligent water irrigation and IPTV hospitality media, Adroit Resources finds itself right in the middle of an exploding mineral & metal trend.
Gold – one of the targets on Adroit's Italian properties – has risen from USD 500/oz to over USD 1400/oz in a matter of five years. Antimony – a strategic metal used for electronics, PET bottles and as a flame retardant in children's clothes, aircraft & automobile seat covers, etc. – has recently soared to an all-time high of over USD 15'000 per tonne. The metal, which Adroit is pursuing in Italy, has thus tripled in value over less than three years.
Adroit's Canadian properties are no less attractive: besides copper and zinc, the company is pursuing the metal that has shown perhaps the strongest recent performance of them all, silver.
According to 'The Economist' (February 26th, 2011), water irrigation represents one of the major markets of the future. Nestlé's Peter Brabeck states that roughly 4'200 cubic kilometres of water can be used each year without depleting overall resources. However, consumption is currently higher – at about 4'500 cubic kilometres per year, of which agricultures uses about 70%. On most estimates, farmers will need 45% more water by 2030 and 70% more by 2050
To avoid a global catastrophe, agriculture has to start using water far more effectively – through intelligent irrigation and systems like those offered by ESI. Israel, for example, has invested heavily in intelligent irrigation and consequently only wastes about 1/10 of its water: if everyone else was equally efficient, the water problem would be much less pressing. The Food and Agriculture Organization thus estimates that over the next 40 years irrigation will require cumulative investment of around US$ 1 trillion. ESI will be sure to gain a good share of this market.
The strategic minor metal Antimony has reached a new all time record high of Bid USD 14,500 and Ask of USD 15,000 per tonne. Adroit's objective is to have the largest compliant Antimony resources outside China. The company is now aggressively working on a program to bring the first portions of its historic Italian Antimony resources to 43-101 compliance. Calculations show approximately 45,000 metric tonnes of contained Antimony metal on the company's existing permits. Some of these deposits are open and nearly all of the historic resources begin at surface and extend to depths of just 40m.
Except for one mine in South Africa, no mine outside China has compliant Antimony resources greater than 45,000 metric tonnes of contained metal. Currently, the entire European Union has no known production of this strategic minor metal.
Adroit's longer-term objective, besides building the largest compliant Antimony resources outside China, is to begin mining Antimony on its permits in the Grosseto province of Italy, a region formerly well known for Antimony mining. In 2009, China produced approximately 91% of the world's Antimony. One securities analyst, quoted in a Financial Times article on 18 January 2011, stated that Chinese authorities have discovered during environmental crackdowns that their Antimony resources are nearly exhausted. We have recently seen Chinese companies buying Antimony resources outside China, such as the Beaverbrook Antimony mine in Canada.
Adroit is planning to start drilling in the second quarter of 2011 with the objective of producing compliant Antimony resource calculations from the historic Antimony resources contained within the Company's exploration permits.
The TSX Venture Exchange confirms Avis Financial's conversion of a loan given to ESI in 2010 into 30 million common shares and 30 million warrants. With this move, Avis Financial signals its commitment to support Environmental Sensors Inc.
Management is pleased to announce that the seventh 617 meter hole of an initial 3,000 meter diamond drill program has intersected 185 meters of Massive Sulphide.
This intersection confirms Adroit's exploration approach to a cluster of VMS deposits. The first assay results give anomalous values for Copper and Zinc and a second batch of samples has been sent for assaying to the AGAT Laborities in Ontario. These assay results will be published once received and evaluated by the Company's technical team.
In light of drilling success, the ongoing program has been increased from 3,000 meters to 5,000 meters to test some more of the numerous targets to further extend the understanding of this VMS cluster of deposits.
Adroit's president comments: 'As the geological evidence increases, my belief that we have a potential discovery on our hands increases. We are drilling a cluster of VMS deposits and the GL 004 drill hole further confirms this.
Small World Financial Services Group and Choice Money Transfer have signed a definitive agreement to combine their operations to create one of the world's largest money transfer organizations.
The combined Small World group trades in thirteen countries across Europe and North America, with a turnover of over $2.5bn, taking two strong regional players and creating a top ten global business that is extremely well positioned to take advantage of the recent return to growth of the industry.
"This transaction catapults us into the top tier of global remittance players," said Nick Day, Group CEO at Small World, "while creating massive opportunities for cost synergies and opening up new geographic markets and corridors for both companies. The combination of our global payment networks and deployment of our advanced technology platform will greatly accelerate our growth trajectory."
Kevin Neuschatz, the CEO of Choice Money Transfer, will become part of the leadership team. Kevin said, "I look forward to working with Nick and the Small World team, and to making the most of their platform and new technology to drive sales through leveraging the outstanding service we are able to offer our customers."
Drilling progress - Grassy Lake: The 3,000-metre diamond drilling program on the Grassy Lake portion of the Red Vein property is now 25 per cent completed. The Laframboise Drilling Inc. drill has completed three drill holes into combined MMI/IP targets on Zone B of the Grassy Lake portion of the Red Vein property. Concurrently, the Levert Drilling Ltd. drill is continuing to drill the third diamond drill hole on combined MMI/IP targets on Zone A of the Grassy Lake portion of the Red Vein property. The company is continuing to drill zones A and F with the Levert drill as planned, and zones B and C with the Laframboise drill. Following success on zones A, B, C and F, the company plans to drill zones D and E.
Exploration progress - Little Pigeon Lake: A grid-cutting crew has arrived at the Little Pigeon Lake portion of the Red Vein property and has commenced cutting an 8.5-kilometre grid across two main copper/quartz showings on the southwestern edge of Little Pigeon Lake. The two surface showings have provided selected grab sample results of 10.4 per cent and 4.7 per cent copper, respectively, and were fire assayed by Accurassay Laboratories, Thunder Bay, Ont. The three grid lines are being prepared for a Mag/VLF survey which will test the lines and the entire length of the lake. A deep dipole IP crew from Larder Lake Geophysics is contracted to arrive on site next week to perform its IP survey, designed to identify geophysical targets up to 400 metres below surface.
The TSX Venture Exchange has accepted Avis Financial's request to convert a loan previously issued to ESI into 30 million shares and 30 million warrants. This move provides further evidence of Avis Financial's commitment to assist ESI in becoming an industry-leading company.
ESI has released its GroPoint single valve controller (GP-SVC) into the marketplace. This device enhances standard timer-based irrigation systems by collecting soil moisture data and automatically adjusting the amounts of water used. Irrigation thus only takes place when plants or turf need more water.
With the launch of the GroPoint GP-SVC another step is taken to increase efficiency in water use and allow for conservation of this important resource. Water use can be reduced by as much as 60 per cent, saving both water and electricity costs as well as wear and tear on irrigation system components and maintenance. The use of soil data is more accurate and efficient than use of rain sensors or weather data, especially as it measures moisture in the root area of the plant. This allows for healthier crops, healthier gardens and lawns and generally improved quality.
Adroit Resources Inc. has agreed to raise, subject to TSX Venture Exchange acceptance, up to a total of $3.5-million for 18,421,052 units of one share and one whole warrant by way of private placement organized by the company. Each whole warrant will be for three years, transferable, and entitle the holder to purchase one additional common share for 25 cents in the first year, 35 cents in the second year and 45 cents in the last year. Finders' fees may be paid to arm's-length parties in accordance with TSX Venture Exchange policy with respect to the private placement.
The proceeds of this private placement will be used for the exploration of the company's Red Vein copper/zinc property in Ontario, its Italian antimony project, development of mineral properties and general working capital.
ESI's GroPoint wireless system has been installed by Agriculture and Agri-Food Canada (AAFC) and the Saskatchewan Ministry of Agriculture. The system will be deployed at the Outlook Crop Diversification Centre, jointly operated by AAFC and the Saskatchewan Ministry of Agriculture.
AAFC and the Saskatchewan Ministry of Agriculture will initiate their use of the GroPoint wireless monitoring system under irrigation pivots in a variety of crops for the upcoming 2011 growing season. The system consists of a series of field nodes, soil moisture sensors and a weather station, which will feed real-time, soil moisture and weather data through a wireless network to researchers through ESI's GroPoint Manager software.
The system serves several purposes and will provide a multitude of benefits to researchers, growers and the agricultural community. It will allow scientists to gather data while they perform various research projects on demonstration plots and will verify the efficiency of irrigation equipment systems. The system will assist irrigation managers (growers) in analyzing their irrigation methods, allowing them to make better decisions regarding when and how to irrigate.
Staff at the centre will also demonstrate the GroPoint wireless system and monitoring equipment on tours and field days, which are held regularly for members of the agricultural community. It is anticipated that the research and results from this facility will be shared both federally through AAFC and provincially with other provincial agricultural ministries. As well, it is hoped that as ESI continues to build on its established credibility in the scientific and research communities, this visibility will assist ESI in its efforts to further penetrate the commercial agriculture market. Pivot irrigation is a significant potential market for ESI; there are nearly 300,000 pivots in operation in North America.
Adroit Resources Inc.'s initial 2,000-metre drill program has been increased to 3,000 metres. The contracted Laframboise drill is on site and drilling has commenced on a combined MMI/IP target on Zone B of the Grassy Lake portion of the Red Vein property. Concurrently, the Levert drill is continuing to drill combined MMI/IP targets on Zone A of the Grassy Lake portion of the Red Vein property.
The company is continuing to drill zones A and F with the Levert drill as planned and zones B and C with the Laframboise drill. Following success on zones A, B, C and F, the company plans to drill zones D and E.
Drilling commenced on Sunday, January 16, 2011, with an initial 200-metre hole (of a total 2,000 m drill program) on a combined MMI/IP target on zone A of the Grassy Lake portion of Adroit Resources Inc.'s Red Vein property which measures 5,936-hectare.
The Red Vein is located within the southern part of the Abitibi greenstone belt in the Shining Tree area of Northern Ontario and is highly prospective for copper, zinc and gold.The area has long been an area of intense interest, located in the heart of the exploration triangle of the three large Ontario mining camps of Timmins, Sudbury and Kirkland Lake. There are numerous historical copper showings on the property and gold showings abound in the surrounding area.
ADROIT RESOURCES INC.: ANTIMONY EXPLORATION DRILLING PLANNED
Fieldwork resumed in November, 2010, on Adroit Resources Inc.'s wholly owned antimony permits in Grosseto province, Italy. The continuing program comprises soil and rock sampling, ground geophysical surveying, geological mapping, and drilling. Drilling is planned to start in the second quarter of 2011 with the objective of producing compliant resource calculations contained within the company's exploration permits. The antimony project covers four permits in the Manciano region – a historically significant producer of antimony – with several deposits mined over the past century.
The program follows up on extensive data compilation and interpretation, as well as on reconnaissance surveying carried out since the renewal of the permits. Exploration and resource evaluation, carried out prior to the mine closures, indicated the presence of considerable historical antimony resources in the district and, more particularly, within the company's 100%-owned permits.
Antimony prices recently soared as global demand surged and output considerably declined as Hunan province, China's largest producing region, curbed output to comply with central government restrictions. China reportedly contributes around 90 per cent of world output.
The CAN$ 500'000 non-brokered private placement for Adroit Resources has been closed and accepted by the TSX Venture Exchange. It entails 3'333'333 shares, priced at CAN$ 0.15, plus 3'333'333 three year warrants for the purchase of one share each at a price of CAN$ 0.20.
The proceeds from this private placement will be used for general working capital, current obligations and the development of mineral properties.
Adroit Resources will commence drilling on the Grassy Lake portion of their Red Vein property, Ontario, in mid-January 2011. A minimum 2'000-metre diamond drill contract has been signed with Levert Drilling Ltd. (Sudbury, Ontario). The zones where drilling will occur are highly prospective for copper, zinc, and gold. Furthermore a MAG/VLF survey is currently being performed on a second geophysical grid (20 km over zones B,C, and D of Grassy Lake area).
Larder Geophysics will perform a gradient IP survey on selected parts of the two geophysical grids on 28.12.10. The explored area is within an exploration triangle that has received intense interest. There are 30 VMS deposits for massive sulphides, including copper, zinc, and silver, within 200 km of the Red Vein property. There are also numerous historical copper and gold showings in the area.
ESI has appointed Ingvard Find as its new President and Chief Executive Officer, with a seat on the Board of Directors. Mr. Find has over 25 years of international business experience in agricultural irrigation and procurement development. Mr. Find's entrepreneurial drive and expertise in new technology and market development persuaded ESI that he was the right candidate for the job.
"I look forward to this new role with ESI and taking the company's innovative technology to the international market place through the network of contacts and channels I have developed over the past two decades. I see significant opportunity for ESI to leverage its technology on a global scale in a variety of markets including agricultural and commercial irrigation management, as well as applications in mining, oil and environmental monitoring," said Mr. Find.
After an agronomy degree from Agricultural College, Denmark, and graduate studies at the University of Minnesota, St. Paul, and Richard Ivey School of Business, London Ontario, Mr. Find went on to hold positions at Rain Bird International, Lindsay Manufacturing, Con-Agra Foods, McCain Foods Ltd. and John Deere Water.
Avis Media has successfully completed a joint project with Etisalat and INC Emirates for the first IPTV system of its kind in the new 61- acre Dubai Sports City, one of the most modern facilities in the world. 15'000 spectators can enjoy a range of aquatic sport disciplines as well as a variety of 10 Olympic sports, including basketball and volleyball. Its heart piece is a state of the art indoor aquatic facility for up to 3'000 sports' fans with two 50-meter pools.
Avis Media's system will receive widespread usage during the 10th FINA World Swimming Championship which is currently being hosted. Over 140 HD TV sets, streaming live broadcasts, are distributed within the sports complex.
Adroit Resources announced the signing of an arm's-length heads of agreement to acquire 100 per cent of the Skynner Lake gold property, Timmins, Ontario. The property is located in a well-known mineralized corridor that has historical production since 1910 in excess of 68 million ounces of gold.
The property consists of eight patented contiguous mining claims (approximately 130 hectares), which Adroit intends to explore with geophysical and geochemical techniques so as to evaluate new exploration zones.
The acquisition is a reviewable transaction under the policies of the TSX Venture Exchange and thus subject to approval by the exchange.
Adroit Resources has announced plans for a drilling program in January 2011 on their Red Vein property in Northern Ontario. Based on encouraging results from magnetic and VLF surveys earlier this year, the initial 2000 metre diamond drill program will focus on two zones of the property (the initial 14.5 km grid). In addition to this, the results have also led Adroit to start cutting a second grid of 20 km so as to allow further preliminary magnetic and VLF surveys.
Furthermore, a staking program has been completed to significantly enlarge Adroit's Red Vein VMS property. This property, which is highly prospective for copper, zinc, and gold, has been enlarged by 118 claim units (1888 hectares), leading to a total of 5936 hectares. This staking has helped secure further exploration targets which were identified in a Quickbird report commissioned by Adroit Resources.
James Cross, VP of Corporate Development for Adroit Resources, has been interviewed by Dominic Frisby for his podcast 'Frisby's Bulls and Bears'. The interview focuses on antimony, a little known metal used as a fire retardant (plastics, flight suits, children's toys, automobile and plane seat covers), alloying element, battery hardener and in ammunition. Mr. Cross and Mr. Frisby discuss Adroit's aim to take the company's historic antimony resources to 43-101 compliance before beginning a mining operation. They estimate 50'000 tons of contained metal with average grade of 1.5% antimony, located 0.4 to 1 metre below ground. Initial drilling suggests that there are gold and silver credits that will also be mined when pulling out the antimony.
Listen to the full interview under:
Adroit Resources has found a competent partner in providing investor relation communications in the form of Progressive IR Consultants Corp. This company based in Vancouver, Canada, will target the investment audience in the coming year via corporate data packages, broker communication.
Furthermore two loans (totaling $500'000, as announced in August 2007) have been fully repaid. The first $250'000 have been converted into shares at 15 cents (September 2010), while the second $250'000 were fully repaid in cash.
Adroit Resources has successfully completed the private placement of 25 million shares for $1.5 million (see initial announcement for placement, 28.10.2010). Each unit consists of one common share and one three-year transferable share purchase warrant (exercisable at a price of 10 cents per share).
The proceeds will be used for general working capital, current obligations and the development of mineral properties.
Furthermore incentive stock options were granted to directors, officers and employees. The non-transferable options are exercisable for up to a total of 3 million shares for 11 cents until 31.05.2014. This is still subject to acceptance by the TSX Venture Exchange.
Avis Financial releases the November edition of their portfolio company reports. It can be downloaded on the company's website, under Public information | >>
Adroit Resources Inc. has arranged a private placement of up to CAN$ 1.5 million for up to 25 million units of one share and one whole warrant by way of private placement organized by the company. The proceeds of this private placement will be used for general working capital, current obligations and, more importantly, the development of mineral properties focusing on the company's preparations for its planned drilling programs scheduled for Ontario in the early part of the new year and Italy later in the new year.
Avis Financial announces that it has acquired 100% of the multi-media business Aqips AB, which will now operate under the brand name 'Avis Media'. Avis Financial's newest portfolio company provides media content and IPTV hospitality solutions to hotels, public venues, and metropolitan networks. With its primary focus on the Scandinavian and Middle Eastern markets, Avis Media's first offices are being established in Gothenburg, Sweden and Dubai, UAE.
Adroit Resources Inc. has closed a non-brokered private placement of 5,101,667 units of one common share and one transferable, three-year warrant, to raise gross proceeds of CAN $306,100. The proceeds from this private placement will be used for general working capital, current obligations and the development of mineral properties.
Avis Financial announces that it has acquired 100% of Aliquantum AB, the Gothenburg-based Finance & Trading company. This acquisition is the result of a long and successful partnership between the two companies. Aliquantum AB adds substantially to Avis Financial's Business Services and Capital Services Divisions, extending the support structure for Avis Financial's portfolio companies.
ESI has announced a non-brokered private placement of up to 15,000,000 units at $0.05 per unit to raise gross proceeds of up to CAN$ 750'000. Proceeds will be used to hire additional new senior management and marketing staff, expand manufacturing, invest in R&D and supplement working capital.
Avis Financial Corporation has successfully acquired a current demand loan and transformed it into a convertible debenture, valued at CAN$ 1.5 million and bearing 12% interest. It will be convertible into common shares at a share price of CAN$ 0.05. Full conversion of this debenture would most likely result in the creation of a new control person in ESI.
ESI filed all required statements and reapplied for resumption of trading on the TSX Venture Exchange in August 2010. Trading has now resumed.
ESI announces the appointment of Edwin William Mitchell and Ian S. Grant to the Board of Directors. Mr. Grant has 25 years of entrepreneurial business and management experience, gained in positions at the Labatt Brewing Company (Director of Marketing for the British Columbia region), Colgate Palmolive, and Foote Cone and Belding.
In the summer of 2008 Adroit Resources conducted the third phase of soil sampling using MMI (Mobile Metal Ions) technology on its 4048 Ha Red Vein property near Timmins, Ontario. The company tested soil from 105 Ha on the Western part of the property.
SGS Minerals Laboratories in Toronto have analyzed 592 soil samples for 7 base-metal elements. They have been able to confirm previously recognized anomalies from the two earlier sampling stages, when anomalies for gold, silver, copper, zinc and nickel were found. In addition, they have found new anomalies whereby the response ratios exceed 25 for copper and zinc in one anomaly and 25 for silver in another.
Adroit Resources Inc. is focusing on the VMS (volcanogenic massive sulfide ore deposits) potential of the property. Random sampling of five historical copper trenches has revealed copper highs as well as anomalous gold values. Adroit plans induced polarization to get a geophysical survey as well as drill testing of the anomalies.