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Rainbow Resources. Bioniche, Boston Pizza Royalties, Cadillac Ventures news briefs

Contributed by eResearch

Rainbow Resources has published assay results from recent drilling at its Jewel Ridge gold-silver project in Nevada. Among the highlights: High-grade Ag mineralization was discovered in an argillic zone at the Hamburg Pit (601 g/t or 21.2 oz/t between a depth of 15.2 and 18.2 metres in JR-12-04), with continuous mineralization from surface to 45.7 metres. Geological modelling of Jewel Ridge, which is expected to be completed in the coming weeks, will prioritize the best locations for upcoming Phase II drilling.

Bioniche has published results for Q2/F2013 and H1/F2013 (ended December 31, 2012). The basic and fully diluted net loss per share for the quarter was $0.05, compared with a loss per share of $0.04 a year ago. In the quarter, rights to the bladder cancer drug, Urocidin™, were returned to Bioniche from Endo Pharmaceuticals. (For more on the results, see eResearch’s February 8, 2013 Perspective.)

Bioniche has terminated its exclusive veterinary licence agreement with Trophogen Inc. The agreement was entered into in June 2010 to provide commercial access for Bioniche to a patented proprietary superagonist hormone technology platform developed by Trophogen in the veterinary field.

Boston Pizza Royalties Income Fund has announced record franchise sales in 2012: $185 million for the fourth quarter, and $731 million for the full year. Positive same-store sales growth (SSSG) in both Q4 and for the full year was primarily a due to higher takeout and delivery sales that resulted from the promotion of Boston Pizza’s online ordering system and higher chicken wing sales(the latter a result of the introduction of “All Meat Wings”.

Cadillac Ventures intends to conduct a private placement offering of units of the Company for gross proceeds of up to $500,000. Each unit will be issued at $0.06, and will comprise one common share of Cadillac Ventures and one common share purchase warrant, exercisable for 30 months for an additional common share at $0.10. The Company expects Union Mining International B.V., an existing shareholder of Cadillac Ventures, which holds, directly and indirectly, approximately 24% of the Company’s issued and outstanding shares, will subscribe for 100% of the offering.

Cadillac Ventures also announced that it will not be closing a second and final tranche of its previously announced private placement of units at $0.09 and flow-through units at $0.10. Total gross proceeds raised under that private placement were about $1.2 million.