MGT Capital Investments, Inc. (AMEX:MGT), a holding company with operations in the healthcare industry, announced that it has raised approximately $780,000 in a direct rights offering to its shareholders. All 31,240,472 shares subject to subscription rights were sold pursuant to the Basic Subscription Privilege and the Oversubscription Privilege described in the Prospectus. In addition, there were unfulfilled oversubscription requests to purchase an additional 9,996,453 shares.
MGT Capital Investments, Inc., together with its subsidiaries, operates as a medical technology company focusing on medical imaging software development and medical hardware devices.
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CAMAC Energy Inc. (Amex:CAK), a U.S.-based energy company engaged in the exploration, development and production of oil and gas, announced that it has been informed that Nigerian Agip Exploration (”NAE”),[ a subsidiary of Eni SpA ("Eni")], its partner in Nigerian OMLs 120 and 121 (the “OMLs”), has signed a definitive agreement to divest its 40% working interest in the OMLs to Allied Energy PLC (”Allied”), an affiliate of the Company’s largest shareholder. According to NAE, the transaction is subject to customary conditions for closing and is expected to conclude during the first quarter of 2012.
CAMAC Energy Inc. engages in the exploration and production of oil and gas. Its operational assets are located in Nigeria and China. The company is based in Houston, Texas.
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IGI, Laboratories, Inc. (Amex:IG), a New Jersey based formulation and manufacturing company, announced that it has submitted an additional abbreviated new drug application (ANDA) to the US FDA, bringing the company’s total number of submissions to five. IGI President and CEO Charlie Moore commented, “We are excited to have one additional ANDA filing for 2011. We now have five ANDAs on file with the US FDA, and we are poised to deliver a strong product development performance in 2012. ANDAs are the key to the future at IGI and our development team remains focused and motivated.” The development of ANDA products has successfully been integrated into the Company’s ongoing contract services business.
IGI Laboratories, Inc. engages in developing, manufacturing, filling, and packaging topical semi-solid and liquid products for cosmetic, cosmeceutical, and pharmaceutical customers in the United States.
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Cleantech Transit Inc. (CLNO)
Biogas can be captured from marshes, from landfill or wastes such as sewage, and burned to produce electricity. It can also be generated intentionally through anaerobic composting. When refined it can be used to power vehicles directly.
Cleantech Transit Inc. was founded to capitalize on technology advances and manufacturing opportunities in the growing clean energy public transportation sector. The Company has expanded its focus to invest directly in specific green projects that could maximize shareholder value. Recognizing the many economic and operational advances of converting wood waste into renewable sources of energy, Cleantech Transit Inc. has selected to invest in Phoenix Energy (www.phoenixenergy.net).
Cleantech Transit, Inc. (CLNO) is pleased to announce it has met its funding requirement to secure the Company’s ability to earn in 25% of the 500KW Merced Project.
The Company is in the final stages of closing its initial interest in the Merced Project and is currently working on completing the necessary documentation and expects closing the transaction soon. As previously announced Cleantech has the option to earn up to 40% of the Merced Project and the Company plans to continue to work towards increasing its interest in the Merced Project as they move ahead.
Biomass absorbs carbon dioxide during growth, and emits it during combustion; therefore, it recycles atmospheric carbon and does not add to the greenhouse effect. It also does not contribute much to acid rain as it produces only low levels of sulfur and ash. Nitrous oxide production can be controlled through modern biomass combustion techniques.
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