subject: Stock Update From Pennyto Buck On Sila, Tgmp, And Somx And Pg Enter Into An Agreement [print this page] American Power Corporation (OTCBB:TGMP) recently announced that it will proceed to kick start the development of its advanced Pace Coal Project in Judith Basin County, Montana.
In April 2010, TGMP acquired roughly 29,000 acres, which make up the Pace Coal Project. In 1979 Mobil Oil Co. (now ExxonMobil) drilled 30 holes over 14,000 of the projects acreage, and delivered 45 samples which were later sent to an independent laboratory for analysis. It was subsequently determined that both the quality and the quantity of coal on the Pace acreage was high and significant, respectively.
TGMP has access to a large and experienced workforce in Great Falls, Montana, and the coal project may provide hundreds, if not thousands, of new, high-paying jobs for the local economy (according to the U.S. Bureau of Labor Statistics, the average annual wage in the mining industry in Montana was $70,779 in 2008, or 122 percent higher than the average wage in the state).
Gold American Mining Corporation (OTCBB:SILA) is pleased to announce that Mr. Juan Manuel Jimenez has agreed to join SILAs team as Technical Advisor - Mexico.
Mr. Jimenez has over eighteen years experience of progressively increasing responsibilities in mining exploration in North America. Which Allows him to bring great value to SILA, given his vast knowledge of precious and base metals exploration in the regions where SILA operates.
His career in the mining industry includes experience gained with Santa Fe Pacific Gold Corporation (acquired by $29B NYSE-listed Newmont Mining Corporation; NEM ), Homestake Mining Corporation, and Minera Teck de Mexico S.A. (subsidiary of $19.3B NYSE-listed Teck Corp.)
Somaxon Pharmaceuticals, Inc. (Nasdaq:SOMX) recently announced that Somaxon and Procter & Gamble (NYSE:PG) have entered into a co-promotion agreement for Silenor (doxepin), a newly-approved treatment for insomnia characterized by difficulty with sleep maintenance.
Under the terms of the agreement, SOMX and PG will co-promote Silenor with a combined 215 sales representatives in the U.S. market. PGs professional health care sales force will promote Silenor to targeted primary care and other high-prescribing physicians. Somaxons focus will be on specialists and other top-decile physicians who treat insomnia. In addition, PG will promote Silenor to targeted pharmacies and will provide supplemental managed care support services for Silenor. SOMX has also granted PG a right of first negotiation relating to rights to develop and market Silenor as an over-the-counter medication in the U.S.
SOMX will record all sales of Silenor and will pay PG a combination of fixed fees and a royalty based on U.S. net sales. Each party will be responsible for the costs of maintaining and operating its own sales force, and SOMX is responsible for all other costs pertaining to the commercialization of Silenor. The term of the agreement runs through December 31, 2012, renewable thereafter, and SOMX will pay PG a reduced royalty based on U.S. net sales of Silenor for one year after the expiration of the agreement or its earlier termination under certain circumstances. Governance of the collaboration will occur through a joint commercialization committee.
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