Key developments of the King & Bay portfolio companies from Q1 2018 are numerous and exciting. We are pleased with the progress made in the past quarter and would like to highlight some of our milestones:

  • Excelsior is in its final stages to receive its last federal permit to begin operations, and it closed a US $30 million equity financing
  • Voleo Inc. announced a reverse takeover with Logan Resources and closed its oversubscribed bridge financing, raising over CAD $780,000
  • Jetlines announced the appointment of several key executives, including an independent director from Spirit Airlines
  • Alderon reappointed Tayfun Eldem as CEO and is underway to fast track the Kami Project
  • King and Bay established an Advisory Board with a goal to broaden the knowledge, understanding, and strategic thinking of the various industries within Company’s portfolio. The Advisory Board will provide counsel to Executive Management and will shape and guide the strategies of King and Bay in order to capitalize on future growth opportunities.

Read more about each company below.


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Voleo announced a reverse takeover (RTO) with Logan Resources in January, placing it on a track to become a public company. On the back of investor interest in the company’s prospects, Voleo also closed an oversubscribed bridge round for over CAD $780,000. In February, Nasdaq hosted the winners of the inaugural Voleo Nasdaq Equity Trading Competition for a market open and tour of their Market Site in Times Square. Finally in March, the first simulated build of Cryptoleo was debuted at FFCON18 in Toronto. For more information on Voleo, please visit their website: www.myvoleo.com


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Excelsior Mining continues to advance towards the successful conclusion of the permitting process for their Gunnison Copper Mine in Arizona. Having already obtained a State of Arizona operation permit in Q3 2017, Excelsior now only requires the EPA administered federal permit (the Underground Injection and Control (UIC)). A draft UIC permit was received in Q4 2017, and in late February the public comment period concluded; thereby, paving the way for Excelsior to receive this milestone permit by Q2 2018. Excelsior will then look to quickly start construction on what will be the first new copper mine in Arizona in over a decade.  Excelsior is well financed after closing a US $30 million equity financing in January.  For more information on Excelsior, please visit their website: www.excelsiormining.com


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Jetlines has been continuing its efforts in becoming Canada's first true ultra-low fare airline. This past quarter has been spent building and announcing the appointments of several key officials including Tony Lefebvre as an Independent Director. Tony has over 27 years of executive experience and spent eight years with Spirit Airlines, a leading Ultra-Low Cost Carrier (ULCC) based in the United States. Jetlines announced Captain Vic Charlebois as Vice President Flight Operations and Phil Larsen as Vice President Maintenance. Jetlines also is in advanced negotiations with several major aircraft lessors to secure the aircraft required to support both its start-up and growth plans. For more information on Jetlines, please visit their website: www.jetlines.ca 


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Alderon was pleased to announce the reappointment of Tayfun Eldem as President, Chief Executive Officer, and Director during Q1 2018. Mr. Eldem has 29 years of experience in the mining industry and will continue to advance the Kami Project toward production. Mr. Eldem was President and CEO of Alderon from September 2011 to August 2015, and was instrumental in further developing the Kami Project. Previously, Mr. Eldem worked for the Iron Ore Company of Canada, a Rio Tinto subsidiary, and held senior roles such as Chief Operating Officer, Vice President, Expansion Projects & Engineering, and General Manager of Processing Operations. The strategic plan to fast track the Kami Project in 2018 is underway and now is the ideal time to progress the project. For more information on Alderon, please visit their website: www.alderonironore.com


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Xineoh spent the first quarter of 2018 completing proof of concept of its cutting edge, AI-backed generalizable recommender algorithm.  It went live with VideoLlama and also tested its algorithm on the data of multiple companies, including a Fortune 500 sized company. The algorithm outperforms competitors both in terms of application breadth and accuracy. Xineoh’s AI can be applied to most industries which have data to be analysed and utilized for improved marketing, optimized production, inventory management, pricing strategy, logistics management, product and service recommendations.  Xineoh’s objective is to commercialize the AI through SaaS licencing agreements. For more information on Xineoh, please visit their website: www.xineoh.com


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Lithion Energy Corp. continues to advance the theory of an elevated Lithium brine pool beneath the dry lake bed in Railroad Valley, Nevada. Lithion’s neighbours in Railroad Valley have drill programs planned in the following weeks. Any success should be very positive for Lithion, as the Valley land holders share the 30,000 brine pool. Lithion has also been busy reviewing other battery and technology metal property opportunities around the world. For more information on Lithion, please visit their website: www.lithionenergycorp.com