Miami, Fl -- (ReleaseWire) -- 02/07/2013 -- Tradersnewsletters.com, a leading online financial newsletter source, Reports on the following Companies: North Bay Resources Inc. (OTCQB: NBRI), Amarantus BioScience, Inc. (OTCQB: AMBS), Compliance Systems Corp (OTCQB: COPI), Nano Labs Corp. (OTCQB:CTLE)
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North Bay Resources Inc. (OTC:NBRI) is pleased to announce that it has executed an amendment (the "Amendment") to the terms of the Company's existing equity line of credit with Tangiers Investors, LP ("Tangiers") which renews the term by another 3 years and doubles the commitment amount from $5 million to $10 million. As set forth in the Company's Current Report on Form 8-K filed with the United States Securities and Exchange Commission on February 5, 2013, the Amendment to the Securities Purchase Agreement dated October 7, 2009 with Tangiers provides North Bay with the right, but not the obligation, to draw down on the equity line of credit by selling to Tangiers shares of the Company's common stock for a total aggregate purchase price of up to $10 Million over a five year period from the Effective Date of January 24, 2011. The dollar amount of each Advance is based upon the average daily trading volume in dollar amount during the ten (10) trading days preceding the Advance Note date (the "Base Amount"). Tangiers will pay the Company 90% of the lowest volume weighted average price of the Company's common stock during the 5 day pricing period following each advance notice as quoted by Bloomberg, LP on the OTCBB/OTCQB (the "Market Price"). Pursuant to the Amendment, no Advance will be made in an amount lower than the Minimum Advance Amount of Ten Thousand Dollars ($10,000) or higher than the Maximum Advance Amount of Two Hundred and Fifty Thousand Dollars ($250,000) per 10 consecutive trading days after each advance notice is provided by the Company to Tangiers. The Amendment also provides that any advance notice that exceeds the Base Amount by up to 200% will be further discounted by 7.5% (or 82.5% of the Market Price), and any advance notice in excess of 200% of the Base Amount will be further discounted by an additional 7.5% (or 75% of the Market Price). Any advance notice in excess of 300% of the Base Amount is subject to the approval of Tangiers.
Amarantus BioScience, Inc. (OTC:AMBS), a biotechnology company discovering and developing treatments and diagnostics for diseases associated with neurodegeneration and apoptosis centered around its patented therapeutic protein MANF, today reported that upon further analysis of the data reported on January 9th, 2013, the striatal reinnervation (densitometry) data produced in the 6 hydroxydopamine (6-OHDA) neurorestoration rat model of Parkinson's disease for MANF at 36ug achieved a statistically significant improvement over the data produced for GDNF, with a P value of 0.047.
Compliance Systems Corp (OTC:COPI), doing business as SeanieMac Limited, the parent company of the all-Irish online sports & casino wagering website www.SeanieMac.com, today announced it has appointed Jon Garfield and Shane O'Driscoll to the Board of Directors. Mr. Garfield brings over 20 years' successful experience as a senior public company, private equity and venture capital executive and board member of developmental and emerging growth companies to include years of public and private company CEO and CFO experience. He has been instrumental in leading over 50 M&A transactions, and was co-founder of a NYSE-listed company that grew from concept to $1 billion. Prior to beginning his career as a corporate executive, Mr. Garfield practiced public accounting with Arthur Andersen and PricewaterhouseCoopers. He received his CPA license in 1987 and in 1986 received his Accounting degree from the University of Texas, Austin. Shane O'Driscoll is a Co-Founder of Seanie Mac. From 2008 to present, he has served as Entertainment Director at INEC, Gleneagle Hotel Group, Killarney, Ireland. Mr. O'Driscoll's duties include managing a staff of over 30 employees, all event, festival and production management and procurement of artists and talent for shows. From January 2007 to the present, he has also served as the Director of the Killarney Summerfest.
Nano Labs Corp. (OTC:CTLE) is pleased to announce today the Company has signed a Letter of Intent with Resinas BYR for the manufacturing and distribution of the Company's NC2012, a proprietary nano thermal insulation paint coating. The Letter of Intent outlines the establishment of a strategic alliance for manufacturing and distribution of the Company's proprietary paint coating under an industrial licensing agreement for the United Mexican States. Both companies are currently working together to jointly facilitate the exchange of technical delegations to provide the necessary cooperation and training required to ensure the success of the venture.
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