The performance of the TSX this week is chipping away at the gains that have been recorded in the past month.
At 12.30 p.m. ET, the Toronto Stock Exchange’s S&P/TSX composite index was posting a five-day performance of -1.03 per cent. The weekly negative performance of the index contrasts with the 5.45 per cent gain the index had produced in the past month.
Commodities have been hard hit this week, helping to drag down the index. Crude oil opened the week at US$89.10 per barrel but was trading at $78.83 at 12.30 p.m. ET. Similarly, gold futures opened the week at $1,763 per ounce but were down to $1,753 at 12.30 p.m., even though they sold as high as $1,786.20 on Wednesday.
The week saw figures from Statistics Canada showing that Canada’s inflation rate was unchanged at 6.9 per cent in October as it was in September. The inflation figure was against the expectations of economists that inflation would rise in October in response to the rise in the price of gasoline.
However, there was some relief as food prices dropped slightly in October to 10.1 per cent. Even though it was still high, it was better than the 10.3 per cent recorded in September. It gave hope to Canadians that the amount they spend on groceries may gradually drop.
With the drop in the index in the past week, our investment-savvy readers seem to have shown more interest in the technology sector. That was followed by commodities.
Below are the stories that attracted our readers the most this week.
SoLVBL Solutions (CSE:SOLV) subsidiary Darkhorse Films signs digital licensing deal with Mogul Productions
SoLVBL Solutions (SOLV) subsidiary Darkhorse Films Limited has signed a Digital Asset License and Marketing Agreement with Mogul Productions Inc.
The purpose of the agreement is to align two industry pioneers and digitize Darkhorse’s Film3 production slate, opening with the highly anticipated Drill & Rap music blockbuster “Tales From The Trap,” a film created by recently announced Senior Vice President of Film Production, Terry Stone
CEO Kaiser Akbar sat down with Sabrina Cuthbert to discuss the partnership with Mogul Productions.
In collaboration with Mogul, Darkhorse will offer Mogul’s community the option to buy and sell digital assets tailored to its film Tales From The Trap. These digital assets will include non-fungible tokens, highly sought-after collectables and exclusive movie and music star collections.
All content displayed throughout the marketplace will highlight visual and audio-visual graphics, animations, photographs, 3D works, GIFs and other creative digital works.
Under the agreement, the parties will also look to finance, produce and disseminate animated movies and TV series specifically designed for the new expanding Mogieland metaverse, including Darkhorse’s: The Claus Supremacy, an animated Christmas family film brought to you by the producers of Saving Santa.
Solvbl Solutions Inc was up 25.00 per cent in the past five days, trading at $0.025 at 11:08 a.m. ET.
Hank Payments (TSXV:HANK) executes MOU for exclusive Canadian license
Hank Payments (HANK) has signed an MOU to negotiate a national license agreement.
The agreement pertains to the use of the Hank technology platform in Canada.
Highlights of the MOU include:
The exclusivity agreement would be for an initial term of five years, underpinned by minimum monthly licensing fees approaching material user counts over time
Additional licensing fees are to be paid monthly as user counts exceed the minimums
Potential to lengthen the exclusivity beyond five years
A period to allow the parties to integrate with existing and new channels/suppliers/platforms that the licensee will deliver, including banking and regulatory-compliant platforms
The licensee has provided a deposit of $150,000 and will invest $250,000 into the next available financing offered by Hank at the current pricing
Up to $500,000 in R&D work to be provided by the company for customization. Market rates apply for customization over and above hours consumed by the initial R&D credit amount
Hank will provide platform hosting, segmented in Canada, dedicated to the licensee with customary support and related service levels
The expected definitive signing of licensing agreement will be no later than January 30, 2023
Michael Hilmer, Chairperson and CEO of Hank Payments, joined Daniella Atkinson to speak about the news.
Hank Payments Corp. was unchanged in the past five days, trading at $0.055 at 10:46 a.m. ET.
Jourdan Resources (TSXV:JOR) signs agreements for lithium project
Jourdan (JOR) has signed two agreements with Sayona Mining relating to its Vallée Lithium Project.
Jourdan Resources agreed to sell up to a 51-per-cent stake in 28 claims within the Vallée Project, which includes pegmatite targets close to and along strike from Sayona subsidiary North American Lithium’s neighbouring orebody.
This purchase is contingent on North American Lithium spending $4 million within the first year of the agreement to earn an initial 25 per cent interest.
An additional $6 million is owed within two years to earn the further 25 per cent interest. The remaining 1 per cent can be claimed by completing a feasibility study and arranging to fund for the construction of a mine at Vallée.
As a part of this agreement, Jourdan has transferred 20 claims outright to Sayona to provide for potential future infrastructure expansion at the Northern American Lithium mine and its processing facility.
Additionally, another subsidiary of Sayona, Sayona Québec Inc., has signed a private placement agreement to acquire 27 million common shares of Jourdan Resources, approximately 9.99 per cent of all common shares, for $1.5 million.
Executive Chairman Dr. Andy Rompel sat down with Sabrina Cuthbert to discuss the news.
Jourdan Resources Inc. was down 10.53 per cent in the past five days, trading at $0.085 at 11:22 a.m. ET.
Keep a date with us next week when we bring you the weekly market movers.
