Stocks of the Hour: Andromeda Metals, Nutritional Growth Solutions, Somerset Minerals

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Andromeda Metals (ASX:ADN) announced that it has entered into a binding Offtake Agreement with Traxys Europe S.A. for the sale and purchase of Andromeda’s kaolin products for the first 5 years of production. The Agreement supersedes the Heads of Agreement signed previously and secures the binding offtake commitments required to support its expanded Stage 1A+ production. Shares are trading 17.65 per cent higher at 2 cents.

Nutritional Growth Solutions Limited (ASX:NGS), a U.S.-based health, nutrition, and wellness company, has entered into an exclusive Intellectual Property Licence Agreement (“IP Licence Deed”) with The Healthy Chef Pty Ltd. (“Healthy Chef”) to exclusively produce and distribute Healthy Chef® products in the United States and Canada. Healthy Chef® products are primarily sold through their Direct-To-Consumer (D2C) eCommerce platform with a loyal Australian customer base, underpinned by a rich library of product innovation, content, cookbooks, recipes, and intellectual property, including seven U.S. Trademarks. Shares are trading 25 per cent higher at 0.5 cents.

Somerset Minerals Ltd (ASX:SMM) has announced initial results from its ongoing Airborne Gravity Gradiometry (AGG) and Magnetic survey at the Prescott Base Metals Project in Canada. Managing Director, Chris Hansen, commented, “Initial results from the survey have exceeded our expectations, serving to identify a significant 4 km north-south gravity high at Miguel, located just 29 km from American West’s Storm Deposit. Shares are trading 25 per cent higher at 0.5 cents.
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Source: Finance News Network