Skyharbour Signs Option Agreement with Tisdale Clean Energy to Option the South Falcon East Property, Saskatchewan

Under the Option Agreement and assuming the 75% interest is earned, Tisdale will  issue Skyharbour 1,111,111 Tisdale shares upfront, fund exploration expenditures totaling CAD $10,500,000, and pay Skyharbour CAD $11,100,000 in cash of which $6,500,000 can be settled for shares in the capital of Tisdale (“Shares”) over the five-year earn-in period.

Jordan Trimble, President and CEO of Skyharbour, stated: “We are very excited to have this new Option Agreement signed as we continue to execute on our business model by adding value to our project base in the Athabasca Basin through strategic partnerships and prospect generation, as well as focused mineral exploration at our core projects of Moore and Russell Lake. We are looking forward to working with Tisdale Clean Energy and its management team as they advance the South Falcon East Project over the coming years with a substantial amount of exploration planned and significant cash and share payments to Skyharbour. Assuming the option earn-in is completed, Skyharbour will retain a minority interest in the project as well as an NSR while maintaining a 100% interest in the surrounding claims. News will be forthcoming on exploration plans at the Property and will complement our aggressive drill campaign forthcoming at Russell Lake as well as those at various other partner-funded projects in our portfolio.”

Terms of the Option Agreement:

Pursuant to the Option Agreement, Tisdale may acquire up to a 75% (seventy-five percent) interest in the Property, in two phases. Initially, Tisdale can acquire a 51% (fifty-one percent) interest in the Property by completing the following payments and incurring the following exploration expenditures on the Property:

  1. On the closing date (“Closing”), paying CAD $350,000 and issuing 1,111,111 Shares to Skyharbour upfront;
    1. By the eighteen-month anniversary of Closing, completing at least $1,250,000 in exploration expenditures, and paying Skyharbour $1,450,000, of which up to $1,000,000 may be paid in Shares based on the 20-day volume-weighted average closing price calculated on the day of issuance (“VWAP”), at the election of Tisdale;
    2. By the second anniversary of Closing, completing an additional $1,750,000 in exploration expenditures, and paying Skyharbour $1,800,000, of which up to $1,000,000 may be paid in Shares based on the VWAP, at the election of Tisdale;
    3. By the third anniversary of Closing, completing an additional $2,500,000 in exploration expenditures, and paying Skyharbour $2,500,000, of which up to $1,500,000 may be paid in Shares based on the VWAP, at the election of Tisdale.

After acquiring a 51% interest, Tisdale may increase its interest in the Property to 75% by:

  1. Completing a payment of $5,000,000 to Skyharbour by the fourth anniversary of Closing, of which up to $3,000,000 may be satisfied in Shares based on the VWAP, at the election of Tisdale, and incurring exploration expenditures on the Property of an additional $2,500,000 in each of the fourth and fifth anniversaries of Closing.

All common shares issued to the Company will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws.  No finders’ fees or commissions are owing by Skyharbour in connection with entering into the Option Agreement. Completion of the transactions contemplated by the Option Agreement, and the issuance of any common shares to Skyharbour, remains subject to the approval of the TSX Venture Exchange.

In the event that additional share issuances to Skyharbour would result in Skyharbour owning 10% or more of Tisdale, a cash payment must be made in lieu of the shortfall to prevent Skyharbour becoming a reporting insider of Tisdale. Furthermore, Tisdale will be the operator during the earn-in period with Skyharbour retaining the final approval authority over the proposed work and exploration programs.

In the event that Tisdale spends, in any of the above periods, less than the specified sum, it may pay to the Company the difference between the amount it actually spent and the specified sum before the expiry of that period in full satisfaction of the exploration expenditures to be incurred. In the event that Tisdale spends, in any period, more than the specified sum, the excess shall be carried forward and applied to the exploration expenditures to be incurred in succeeding periods.

Assuming Tisdale exercises the option and acquires an interest in Property, the parties intend to form a joint venture for the ongoing development of the Property. A small portion of the Property is subject to an existing 2% net smelter returns royalty owing to a former owner, and Tisdale has agreed to grant a further 2% royalty to Skyharbour on the remaining bulk of the project area including the Fraser Lakes Zone B deposit. One-half of the royalty, being 1%, to be granted to Skyharbour can be purchased at any time by completing a one-time cash payment of $1,000,000.

South Falcon East Project Summary:

The South Falcon East Project is a uranium exploration project in the southeast Athabasca Basin and represents a portion of Skyharbour’s existing South Falcon Project. The project covers approximately 12,464 hectares and lies 18 kilometers outside the Athabasca Basin, approximately 50 kilometers east of the Key Lake Mine.

South Falcon Point Project Location Map:

https://www.skyharbourltd.com/_resources/maps/Sky_FalconSouth20211209.jpg

Historical exploration at the South Falcon East Project identified an area of U-Th-REE mineralization at the Fraser Lakes Zone B over an area comprising 1.5 km by 0.5 km along an antiformal fold nose cut by an east-west dextral ductile-brittle cross-structure adjacent to a 65 km long EM conductor. The near-surface Fraser Lakes Zone B deposit consists of a current NI 43-101 inferred resource totaling 7.0 million pounds of U3O8 at 0.03% and 5.3 million pounds of ThO2 at 0.023% within 10,354,926 tonnes using a cut-off grade of 0.01% U3O8. The independent NI 43-101 technical report by GeoVector Management Inc. supporting this mineral resource estimate was filed on SEDAR on March 20, 2015 by Skyharbour. Independent qualified person, Dr. Allan Armitage, P.Geo., is responsible for the contents of the technical report and comments related to the resource estimate and its parameters.

Qualified Person:

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed and approved by David Billard, P.Geo., a Consulting Geologist for Skyharbour as well as a Qualified Person.

 

New treatment option for schizophrenia Reagila(R) listed on PBS

A new treatment for schizophrenia in adults, Reagila(R) (cariprazine), was listed on the Pharmaceutical Benefits Scheme (PBS) on 1 September, providing patients with an additional treatment option. Approved in the US since 2015 and EU since 2017, Reagila is approved in over 52 countries for the treatment of schizophrenia in adults.

Schizophrenia is a complex psychiatric disorder comprising a range of symptoms – positive symptoms include hallucinations and delusions, while negative symptoms include social withdrawal and apathy.

Affecting some 90,000 Australians, schizophrenia is our most stigmatised and disabling mental illness, with life expectancy nearly 15 years below the general population.

Reagila, in-licensed by Seqirus, a wholly-owned subsidiary of CSL, is an atypical antipsychotic which indirectly targets two neurotransmitters in the brain: dopamine and serotonin. Neurotransmitters are considered the brain’s ‘chemical pathways’.

Professor Ian Hickie, Co-Director for Health & Policy, The Brain and Mind Centre, University of Sydney and NHMRC Senior Principal Research Fellow said this listing highlights ongoing efforts to provide new treatments for schizophrenia and ensures people living with the illness have affordable access to a wider range of treatments.

“The complex nature of schizophrenia, whereby people experience a range of different problems, means treatment is not a “one size fits all”. Additional options are most welcome and help to reduce the current barriers to effective treatment,” said Prof Hickie.

“The annual cost to Australian society of psychosis is an estimated $6 billion. However, this figure does not account for the impacts endured by individuals, their families, and the supporting community.

“Schizophrenia is a complex and often persistent mental illness. It not only affects brain function and behaviour but is also associated with serious impacts on physical health. Consequently, it is associated with very high rates of premature death, often due to preventable illnesses such as heart disease, diabetes, infections, accidents and suicide,” Prof Hickie said.

National CEO of the Mental Illness Fellowship of Australia (MIFA) Tony Stevenson welcomed the reimbursement of a new treatment option for those living with schizophrenia.

“The availability and accessibility of affordable treatment options for adults living with schizophrenia is crucial for the patient community, given the stigma they experience with the disorder, and resulting social isolation,” said Mr Stevenson.

“Sadly, stigma can contribute to the impact of psychosis in schizophrenia, delays in accessing treatment, social isolation, stress, and furthermore, places those affected at higher risk for a more severe course of illness.”

According to mental health advocate and policy advisor living with schizophrenia, Richard, 40, Sydney, “mental illness does not make you ‘crazy’.

“Everyone needs love and hope, and this applies to those living with a mental illness too,” Richard said. “Timely and affordable access to a range of treatment options plays an important role in effectively managing schizophrenia, while importantly, arming the patient community with hope.

“Love gives you a sense of self-worth – of being appreciated, having a net, and not being lonely. Hope gets you up in the morning, and helps to continue one’s relationship with mental illness,” said Richard.

Dr Jonathan Anderson, Seqirus Head of Medical Affairs Asia Pacific, in Melbourne, said, “The Australian Government’s investment in innovative medicines like Reagila(R) is important to ensure Australians have timely and affordable access to treatments which may help to address the unmet need in schizophrenia.

“Seqirus is proud to make Reagila available in Australia for the first time, and we thank the Australian Government for their support in delivering this PBS listing – ensuring Australian adults living with schizophrenia can access this innovative medicine, and do so in an affordable way,” Dr Anderson said.

“We know that additional investment in treatment options and support is critical to changing the statistics for people living with schizophrenia, their carers, family and friends”

DIGITAL MEDIA KIT
https://www.schizophreniamediakit.com.au
VNR
https://vimeo.com/592544606/d1188a8813

MEDIA CONTACTS
Joanne Cleary
Senior Manager, Communications, Seqirus
M: 0428 816 751 E: Joanne.Cleary@seqirus.com

Kirsten Bruce
Principal Senior, VIVA! Communications
Mobile: 0401 717 566 / 0421 551 257
Email: kirstenbruce@vivacommunications.com.au

Mel Kheradi
Mobile: 0421 551 257, VIVA! Communications
Email: melorin@vivacommunications.com.au

ABOUT SEQIRUS
Seqirus, a CSL company, is a leading provider of essential vaccines and pharmaceuticals. We have served Australia’s healthcare needs for over a century, and today we operate Australia’s only local manufacturing facility for seasonal and pandemic influenza vaccine. Seqirus produces a range of unique medicines in the National Interest, and also in-licences a broad range of paediatric and adult vaccines and specialty pharmaceutical products. http://www.seqirus.com.

ABOUT REAGILA(R)
Reagila(R) was TGA approved in November 2020 as a Schedule 4 (Prescription Only Medicine). Reagila is indicated for the treatment of schizophrenia in adult patients, and was listed on the PBS on 1 September 2021 for schizophrenia, requiring a Streamlined Authority prescription.

FURTHER INFORMATION
Reagila is not recommended for use during pregnancy, and in women of childbearing potential not using effective contraception. Breastfeeding is not recommended whilst taking Reagila. For further information, including Contraindications, Precautions, and Interactions, refer to the Product Information and Consumer Medicine Information, or your doctor or pharmacist.

Disclosure statement
No compensation was provided to Professor Ian Hickie, Mr Tony Stevenson, Mental Illness Fellowship of Australia or Richard for this media announcement, and the opinions expressed are their own. Professor Hickie has been briefed by Seqirus on the approved use of this product.

REFERENCES
1. The Pharmaceutical Benefits Scheme Medicine Status Website. CARIPRAZINE. 2021; Available from:
https://www.pbs.gov.au/medicinestatus/document/16.html.
2. Better Health Channel. Schizophrenia. [June 2021]; Available from:
https://www.betterhealth.vic.gov.au/health/ConditionsAndTreatments/schizophrenia.
3. Health Direct. Schizophrenia. 2020 [June 2021]; https://www.healthdirect.gov.au/schizophrenia.


Topic: Press release summary

New treatment option for schizophrenia – Reagila(R) – listed on PBS this week

A new treatment for schizophrenia in adults, Reagila(R)(cariprazine), was listed on the Pharmaceutical Benefits Scheme (PBS) on 1 September, 2021, providing patients with an additional treatment option.1
Schizophrenia is a complex psychiatric disorder2 comprising a range of symptoms, including positive symptoms, such as hallucinations and delusions,6,7 and negative symptoms, such as social withdrawal and apathy.8,9

Reagila(R) – in-licensed by Seqirus, a wholly-owned subsidiary of CSL – is an atypical antipsychotic which indirectly targets two neurotransmitters in the brain – dopamine and serotonin.10 Neurotransmitters are considered the brain’s ‘chemical pathways’.11

Approved in the US since 2015, and EU since 2017, Reagila(R) is now approved in over 52 countries for the treatment of schizophrenia in adult patients.12

Co-Director for Health and Policy, Brain & Mind Centre, The University of Sydney, and NHMRC Senior Principal Research Fellow, Professor Ian Hickie, Sydney, said this new listing highlights ongoing efforts to provide new treatments for schizophrenia, and the need to ensure people living with the mental illness have affordable access to a wider range of treatments.

“The complex nature of schizophrenia,2 whereby people experience a range of different problems, means treatment is not a “one size fits all”.3 Additional options are most welcome, and help to reduce the current barriers to effective treatment,” said Prof Hickie.

“The annual cost to Australian society of psychosis is an estimated $6 billion. However this figure does not account for the impacts endured by individuals, their families, and the supporting community.4

“Schizophrenia is a complex and often persistent mental illness. It not only affects brain function and behaviour, but is also associated with serious impacts on physical health. Consequently, it is associated with very high rates of premature death,13 often due to preventable illnesses, such as heart disease, diabetes, infections, accidents and suicide,”14,15 Prof Hickie said.

Mental Illness Fellowship of Australia (MIFA) CEO, Tony Stevenson, Brisbane, welcomed the reimbursement of a new treatment option for those living with schizophrenia.

“The availability and accessibility of affordable treatment options for adults living with schizophrenia is crucial for this patient community, given the stigma they experience with the disorder15, and resulting social isolation,”8,9 said Mr Stevenson.

“Sadly, stigma can contribute to the impact of psychosis in schizophrenia, delays in accessing treatment, social isolation, stress, and furthermore, places those affected at higher risk for a more severe course of illness.”16

According to mental health advocate and policy advisor living with schizophrenia, Richard, 40, Sydney, “mental illness does not make you ‘crazy’, ‘dangerous’, or less of a person. It can be an inevitable part of life, and we should accept the illness, just as we do with a physical illness.”

“Everyone needs love and hope, and this applies to those living with a mental illness too,” Richard said. “Timely and affordable access to a range of treatment options plays an important role in effectively managing schizophrenia, while importantly, arming the patient community with hope.

“Love gives you a sense of self-worth – of being appreciated, having a net, and not being lonely. Hope gets you up in the morning, and helps to continue one’s relationship with mental illness,” said Richard.

Seqirus Head of Medical Affairs Asia Pacific, Dr Jonathan Anderson, Melbourne, said the Australian Government’s investment in innovative medicines, like Reagila(R), was important to ensure Australians havetimely and affordable access to treatments which may help to address the unmet need in schizophrenia.

“Seqirus is proud to make Reagila(R) available in Australia for the first time, and we thank the Australian Government for their support in delivering this PBS listing – ensuring Australian adults living with schizophrenia can access this innovative medicine, and do so in an affordable way,” Dr Anderson said.

“We know that additional investment in treatment options and support is critical to changing the statistics for people living with schizophrenia, their carers, family and friends”

MEDIA CONTACTS
Joanne Cleary
Senior Manager, Communications, Seqirus
M: 0428 816 751 E: Joanne.Cleary@seqirus.com

Kirsten Bruce
Principal Senior, VIVA! Communications
Mobile: 0401 717 566 / 0421 551 257
Email: kirstenbruce@vivacommunications.com.au

Mel Kheradi
Mobile: 0421 551 257, VIVA! Communications
Email: melorin@vivacommunications.com.au

DIGITAL MEDIA KIT
https://www.schizophreniamediakit.com.au
VNR
https://vimeo.com/592544606/d1188a8813

ABOUT SEQIRUS
Seqirus, a CSL company, is a leading provider of essential vaccines and pharmaceuticals. We have served Australia’s healthcare needs for over a century, and today we operate Australia’s only local manufacturing facility for seasonal and pandemic influenza vaccine. Seqirus produces a range of unique medicines in the National Interest, and also in-licences a broad range of paediatric and adult vaccines and specialty pharmaceutical products. http://www.seqirus.com.

ABOUT REAGILA(R)
Reagila(R) was TGA approved in November 2020 as a Schedule 4 (Prescription Only Medicine).17 Reagila(R) is indicated for the treatment of schizophrenia in adult patients. Reagila(R) will be listed on the PBS from 1 September, 2021 for schizophrenia, and requires a Streamlined Authority prescription.

FURTHER INFORMATION
Reagila(R) is not recommended for use during pregnancy, and in women of childbearing potential not using effective contraception. Breastfeeding is not recommended whilst taking Reagila(R). For further information, including Contraindications, Precautions, and Interactions, refer to the Product Information and Consumer Medicine Information, or your doctor or pharmacist.

Disclosure statement
No compensation was provided to Professor Ian Hickie, Mr Tony Stevenson, Mental Illness Fellowship of Australia or Richard for this media announcement, and the opinions expressed are their own. Professor Hickie has been briefed by Seqirus on the approved use of this product.

REFERENCES
1. The Pharmaceutical Benefits Scheme Medicine Status Website. CARIPRAZINE. 2021; Available from:
https://www.pbs.gov.au/medicinestatus/document/16.html.
2. Better Health Channel. Schizophrenia. [June 2021]; Available from:
https://www.betterhealth.vic.gov.au/health/ConditionsAndTreatments/schizophrenia.
3. Health Direct. Schizophrenia. 2020 [June 2021]; Available from:
https://www.healthdirect.gov.au/schizophrenia.
4. The Royal Australian & New Zealand College of Psychiatrists, The economic cost of serious mental illness
and comorbidities in Australia and New Zealand. 2016.
5. Australian Government Productivity Commission, Mental Health, Productivity Commission Inquiry Report. 2020.
6. Schultz, S.H., S.W. North, and C.G. Shields, Schizophrenia: a review. Am Fam Physician, 2007. 75(12):
p. 1821-9.
7. NeuRA. Positive symptoms. 2020 [June 2021]; Available from:
https://library.neura.edu.au/schizophrenia/signs-and-symptoms/general-signs-and-ymptoms/positive-symptoms/.
8. National Institute of Mental Health. Schizophrenia. 2020 [June 2021]; Available from:
https://www.nimh.nih.gov/health/topics/schizophrenia/.
9. NeuRA. Negative symptoms. 2020 [July 2021]; Available from:
https://library.neura.edu.au/schizophrenia/signs-and-symptoms/general-signs-and-symptoms/negative-symptoms/.
10. Approved Reagila Product Information. Available from:
https://www.ebs.tga.gov.au/ebs/picmi/picmirepository.nsf/pdf?OpenAgent&id=CP-2020-PI-02598-
1&d=202106291016933.
11. The University of Queensland Australia. What are neurotransmitters? [August 2021]; Available from:
https://qbi.uq.edu.au/brain/brain-physiology/what-are-neurotransmitters.
12. Therapeutic Goods Administration. Australian Public Assessment Report for Cariprazine hydrochloride.
2021 [May, 2021]; Available from: https://www.tga.gov.au/sites/default/files/auspar-cariprazine-hydrochloride-210524.pdf.
13. Laursen, T.M., M. Nordentoft, and P.B. Mortensen, Excess early mortality in schizophrenia. Annu Rev
Clin Psychol, 2014. 10: p. 425-48.
14. Wildgust, H.J., R. Hodgson, and M. Beary, The paradox of premature mortality in schizophrenia: new
research questions. J Psychopharmacol, 2010. 24(4 Suppl): p. 9-15.
15. World Health Organization (WHO). Schizophrenia. 2019 [June 2021]; Available from:
https://www.who.int/news-room/fact-sheets/detail/schizophrenia.
16. Gil Dov Hoftman, M.D., Ph.D., The Burden of Mental Illness Beyond Clinical Symptoms: Impact of Stigma
on the Onset and Course of Schizophrenia Spectrum Disorders. American Journal of Psychiatry Residents’
Journal, 2016. 11(4): p. 5-7.
17. Reagila ARTG Summary. Available from: https://www.ebs.tga.gov.au/servlet/xmlmillr6?dbid=ebs/PublicHTML/pdfStore.nsf&docid=0C4BF80B7C892BC0CA258624003CC46E&agid=(PrintDetailsPublic)&actionid=1.
18. Therapeutic Goods Administration. Reagila Consumer Medicine Information. Available from:
https://www.ebs.tga.gov.au/ebs/picmi/picmirepository.nsf/pdf?OpenAgent&id=CP-2020-CMI-02599-
1&d=202107141016933.
Seqirus (Australia) Pty Ltd. ABN 66 120 398 067. Melbourne, Victoria; distributor for Gedeon Richter Australia
Pty Ltd. www.seqirus.com.au. Seqirus Medical Information: 1800 642 865. Reagila(R) is a registered trademark of Gedeon Richter Plc, Hungary. Seqirus(TM) is a trademark of Seqirus UK limited or its affiliates. Date of Preparation: August 2021. ANZ-RGLA-21-0122.


Topic: Drug Approval