A glance at some of the day's highlights from the Proactive Investors US and Canada newswires
Benchmark Metals Inc (CVE:BNCH) (OTCQB:CYRTF) is set to drill the largest drill program in the Toodoggone region of British Columbia in 2020. The Edmonton-based company is planning a drill program of up to 50,000 metres at the at the Lawyers gold-silver project, which is located in British Columbia’s prolific Golden Triangle mining district. Toodoggone is a historically underexplored area, but it did see production in the form of the Cheni gold-silver mine that operated from 1989 to 1992 and recorded output of 171,200 ounces of gold and 3.6 million ounces of silver.
Tinka Resources Limited (CVE:TK) (OTCPINK:TKRFF) is reactivating its exploration program at its Ayawilca property in Peru after the country’s government lifted restrictions in place as part of the coronavirus pandemic. Last week the Peruvian government initiated Phase 2 of its economic reactivation plan, which includes mineral activities. Vancouver-based Tinka submitted a coronavirus health and monitoring protocol to the Ministry of Health, allowing it to recommence exploration at any time, the company said in a statement Tuesday.
Antibe Therapeutics Inc (CVE:ATE) has reached a bought deal financing agreement worth $25 million to advance its anti-inflammatory drug ATB-346 and others in its pipeline. The Toronto-based company, which develops non-addictive medicines for pain and inflammation, agreed to offer 62.5 million units at a price of $0.40 per unit. Each unit contains one common share and one-third of a share purchase warrant, and whole warrants are exercisable at $0.60 for a period of 24 months.
Marrone Bio Innovations Inc (NASDAQ:MBII) shares jumped Friday after the company announced an exclusive commercial agreement with multinational agribusiness UPL to distribute its REGALIA MAXX Fungicide in South Africa. South Africa is a major producer of wine and table grapes, with more than 120,000 hectares in production. Marrone’s REGALIA MAXX stimulates plants’ ability to fight diseases and has been used in North America to manage botrytis and other grape diseases.
Nerds On Site Inc (CSE:NERD) (OTCQB:NOSUF) said Tuesday that it is advancing with its investment AdamNetworks, which has won patents in the US and Europe for its cybercrime-defeating AdamOne feature "Don't Talk To Strangers." Nerds said it has provided about C$1 million in the form of debt over the last four years to establish AdamNetworks. The company postponed interest payments as the technology was under development in exchange for 20% royalty payable to Nerds. And in other company news, Nerds also said its founders have purchased 400,000 company shares while it has launched investor information pages on Facebook and LinkedIn.
FSD Pharma Inc (CSE:HUGE) (NASDAQ:HUGE) has closed a C$10.125 million financing by way of a private placement of 1.5 million shares priced at C$6.75 and an additional 1.5 million warrants exercisable at C$9.65 for a five-year term. The Toronto-based company also granted the placement agents an option to arrange for purchases of up to an additional C$10.125 million of Securities on the terms above for a period of 30 days following the initial closing. Net proceeds are expected to be used for working capital and other general corporate purposes.
Altamira Gold Corp (CVE:ALTA) (OTCPINK:EQTRF) (FSE:T6UP) announced it had sold its Crepori gold project in Para state to a small-scale Brazilian gold miner as it continues to transition to a junior gold producer from an exploration firm. The firm will receive a total of C$500,000 from the sale to Mineracao do Para Ltda (MAP) and retain a 4% net smelter royalty (NSR) following the start of production. "This agreement is an important step in our transition from an exploration company to a junior gold producer and will add to future revenues, further reducing our need to raise capital through dilutive private placements," Altamira's CEO Mike Bennett told investors.
Cannabis One Holdings Inc (CSE:CBIS) (OTCMKTS:CAAOF) announced Tuesday that it has executed a definitive purchase agreement to acquire Colorado-based Cannabis Corp. which will transform the group into a fully-licensed cannabis operator. Cannabis Corp. holds the licenses and cannabis inventory assets of the Fox Street and Kingston cultivation facilities, as well as the award-winning "The Joint" dispensary in Denver, Colorado. The consideration payable to Cannabis Corp shareholders in connection with the transaction will be US$1,800,000 (C$2,500,000) in Class B super voting shares of Cannabis One at a per CBIS super-voting share price of $1.289 (equivalent to $0.1289 per Class A subordinate voting share) equaling 1,938,974 Class B super voting shares of Cannabis One.
Kincora Copper Ltd’s (CVE:KCC) ongoing drilling campaign at the Trundle copper-gold porphyry project in New South Wales, Australia has gone two from two. On May 19, the company revealed that it had intersected multiple mineralised skarn zones in core from the first of its drill holes into Trundle, at the southern Trundle Park skarn-porphyry target. Fast forward three weeks and the core from the second hole has now been received and reviewed. Kincora has put out some further visuals and it too is showing significant mineralisation, this time at the Mordialloc porphyry target. Although the proof will ultimately lie in the assay testing, and it is still early in Kincora’s maiden drill program at Trundle, both holes look very promising.
Canafarma Hemp Products Corp (CSE:CNFA) has revealed it is teaming up with private drugs group PharmOps to develop a bioequivalent drug to Hydroxychloroquine amid the coronavirus (COVID-19) pandemic. In April this year, Canafarma inked a letter of intent to buy PharmOps and its 25,000 square foot nutraceutical manufacturing facility in New Jersey. The hemp product-focused group told investors that as due diligence continues on that acquisition, the pair have also agreed to work together to develop a bioequivalent material to Hydroxychloroquine - a drug, which US President Donald Trump has been an advocate of amid the battle against the virus.
American Manganese Inc (CVE:AMY) (OTCPINK:AMYZF) has reported highly positive news on the development of its recycling pilot plant after engineering work that has increased its processing capacity. In May this year, the firm announced the launch by its contractor Kemetco of optimization tests in a bid to upgrade the plant, which extracts cathode materials, such as lithium, cobalt, nickel, and manganese at battery-grade purity from spent batteries. "As a result of the upgrades, the pilot plant capacity was successfully increased from 64 kg/day to 160 kg/day, without sacrificing the recovery potential of cobalt, lithium, nickel, manganese, and aluminum," American Manganese said in a statement on Tuesday.
The Valens Company (CVE:VLNS) (OTCQX:VLNCF), an end-to-end manufacturer of cannabinoid-based products, has announced the launch of a premium vape line, "Made By," in partnership with BRNT Limited, in addition to a strategic amendment to its existing custom manufacturing agreement with the cannabis ancillary company. In a statement, the Canadian leader in extraction revealed that the new "Made By" product line will include three ready-to-go, disposable vape pens, engineered to the highest standards of safety. Designed in collaboration with Canadian artists, the company said the “aesthetically bold pens” come paired with “premium, true-to-strain extracts” with "delicate terpene profiles."
Media Central Corporation Inc (CSE:FLYY) CEO Brian Kalish has called the publishing company’s digitization efforts “unprecedented” in a letter to shareholders published Tuesday. Since taking ownership of the iconic urban publications NOW and the Straight in November 2019 and February 2020, respectively, Media Central has invested in transforming the legacy publications into leading digital platforms. Recent announcements include the launch of new technology-based upgrades that will allow Media Central to monetize its existing audience including introducing affiliate marketing, automated marketing, and programmatic advertising.
Ximen Mining Corp (CVE:XIM) (OTCMKTS:XXMMF) said it has further extended the ground near the Ymir Protection mine in southern British Columbia, which it acquired last week. Ximen has acquired three new claims covering around 2,294 hectares, adjoining the property, the gold-focused explorer said in a statement on Tuesday. The new ground adds to the package that Ximen has assembled since first acquiring the Kenville gold mine near Nelson in the early part of 2019.
Ideanomics Inc (NASDAQ:IDEX) has said it is seeing good traction at its subsidiary Mobile Energy Global's (MEG) expo center in Qingdao, Shandong province, China where it has sold vehicles worth US$33 million since it opened on May 1, 2020. In the first five weeks of being operational, dealers at the center have received high levels of interest, Ideanomics said, and MEG has now sold 2,139 vehicles at the centre for a total of RMB 235 million or US$33 million. The group told investors it was now optimistic it can achieve its previously stated RMB 1 billion (around US$141.2 million) sales target for full-year 2020.
Esports Entertainment Group Inc (NASDAQ:GMBL), a Malta-based gambling company focused on esports wagering, announced Tuesday that it has raked in nearly $4.4 million from the exercise of warrants since May 22. Investors who participated in Esports Entertainment's public offering in April when the company uplisted to the Nasdaq have exercised more than 1 million warrants at a price of $4.25 per share. That is in addition to the more than $1.8 million in warrant receipts the company announced on May 26, bringing its total to upwards of $6.2 million since joining the New York-based exchange.
Mineworx Technologies Ltd (CVE:MWX) (OTCQB:MWXRF) announced Tuesday that it intends to proceed with both a non-brokered private placement and a non-brokered private placement of 12% unsecured convertible debentures to raise a total of C$2 million in gross proceeds. The company said it plans to use the money to continue the development of its catalytic converter project in Tennessee as well as for working capital purposes. In April, Mineworx signed a letter of intent with Davis Recycling Inc to develop, build and operate a commercial pilot plant to recover platinum group metals from catalytic converters.
Harvest One Cannabis Inc. (CVE:HVT) (OTCQX:HRVOF) said MMJ Group Holdings Limited has agreed to defer repayment of the secured loan made to Harvest One in the amount of $2.0 million until July 17, 2020, in continued support of the company's previously-announced Strategic Review initiatives. MMJ is Harvest One Cannabis' largest shareholder, holding approximately 26% of the issued and outstanding shares of the company.
Co-Diagnostics Inc (NASDAQ:CODX), which has attracted much attention on Wall Street as demand grows for its Logix Smart coronavirus (COVID-19) detection test, has said it is expected to join the small-cap Russell 2000 Index and broader Russell 3000 index in late June. The Utah-based company said Tuesday that its elevation to the indexes will occur on June 26 after markets close when Russell US indexes are reconstituted. The annual reconstitution of the broad-market Russell 3000 Index captures 3,000 of the largest US stocks, ranking them by total market capitalization. The largest 1,000 companies in this ranking comprise the Russell 1000 Index and the next 2,000 companies constitute the Russell 2000 Index, which together comprise the Russell 3000 Index.
Genprex Inc (NASDAQ:GNPX), the gene therapy company, has said it is set to join the US broad market Russell 3000 Index on June 26. The Austin-based firm will join an elite group of 3,000 publicly listed companies with the largest market capitalizations on the NASDAQ and New York Stock Exchange. Inclusion in the Russell 3000 Index increases Genprex’s visibility among institutional investors, money managers and index funds. “This inclusion indicates that our leadership in developing gene therapies is resonating with investors,” Genprex CEO Rodney Varner said in a statement.
Nemaura Medical Inc (NASDAQ:NMRD), the company behind the non-invasive continuous glucose monitor sugarBEAT, announced Tuesday that it is set to join the small-cap specific Russell 2000 Index and the broad-market Russell 3000 Index after the annual reconstitution of the Russell stock indexes which takes effect on June 29. “Inclusion in the Russell Indexes is an important milestone and will increase the overall awareness and exposure of our stock within the investment community,” Nemaura Medical CEO Faz Chowdhury said in a statement. “Broader exposure to the investment community comes at an ideal time for Nemaura as we move forward with product sales in the coming months and quarters,” he added.
VR Resources Ltd (CVE:VRR) said the TSX Venture Exchange has accepted for filing documentation with respect to its non-brokered private placement, announced on May 25, 2020, which will see the issue of 1,291,667 flow-through shares at a purchase price of 24 cents each plus 9,014,654 non-flow-through shares at a purchase price of 22 cents each, together with 4,507,323 share purchase warrants at an initial exercise price of 35 cents and an 18 month term to expiry, with 68 placees.
Great Bear Resources Ltd (CVE:GBR) said the TSX Venture Exchange has accepted for filing documentation with respect to its brokered private placement, announced on May 12, 2020, which will see the issue of 1,470,600 flow-through shares and 725,000 common shares, at purchase prices of $17 per flow-through share and $11.04 per common share, with 70 placees.
Great Panther Mining Limited (TSX:GPR) (NYSEAMERICAN:GPL) has reported that Glass Lewis & Co. and Institutional Shareholder Services have both recommended that shareholders vote for all proposed items to be considered at its upcoming annual general meeting scheduled for 11.00am PDT on Wednesday, June 24, 2020. This year, the AGM will be held in a virtual format via live webcast and by participating online, shareholders will be able to listen to a live audio cast of the meeting, ask questions online and submit votes in real-time. The AGM can be accessed as follows: Login: https://web.lumiagm.com/g#/228243688/; Meeting ID: 228243688; Password: panther2020.
BetterLife Pharma Inc. (CSE:BETR) (OTCQB:BETRF) (FRA:NPAT) announced that the Financial Industry Regulatory Authority, Inc. (FINRA) has approved the company's request to change its OTC ticker symbol from PVOTF to BETRF, effective as of the opening of market trading on June 9, 2020. BetterLife's common shares will continue to trade on the Canadian Securities Exchange (CSE) under the symbol CSE:BETR, as well as the Frankfurt Stock Exchange under the symbol FRA:NPAT.
OTC Markets Group Inc. (OTCQX:OTCM), operator of financial markets for 10,000 U.S. and global securities, announced that dynaCERT Inc (CVE:DYA) (OTCQX:DYFSF) has qualified to trade on the OTCQX Best Market and has upgraded from the OTCQB Venture Market and begins trading today. Graduating to the OTCQX Market from the OTCQB Market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among US investors. Jim Payne, dynaCERT CEO commented: "dynaCERT has spent over $60 million and 16 years to develop a unique Hydrogen based innovation that can provide a Carbon Emissions Reduction Technology and Carbon Credits applicable throughout every diesel engine world-wide, while at the same time providing reduced fuel consumption, commencing in North America and more specifically, the USA. At dynaCERT, we have built a remarkable team with associates that can reach throughout the USA from coast to coast, in order to service the US market with our HydraGEN Technology products. Although we are more well-known globally and in Canadian markets, we are fully committed to our American friends in the transportation, construction, mining, oil & gas and diesel generator energy business."
CytoDyn Inc. (OTCQB:CYDY), a late-stage biotechnology company developing leronlimab (PRO 140), a CCR5 antagonist with the potential for multiple therapeutic indications, has announced that its president and chief executive officer, Nader Pourhassan, and Scott Kelly, its chairman, chief medical officer and head of Business Development, will host an investment community conference call on Thursday, June 11, 2020, at 1.00pm PT/ 4.00pm ET to provide a comprehensive update on several recent clinical and regulatory developments, potential uplisting and its timing, potential licensing and/or distribution agreements. The group said its management will dedicate approximately 30-40 minutes to address questions from analysts and investors and the call can be accessed by the following dial-In numbers US: 877-407-2986; International: 201-378-4916 International. A live audio webcast may also be accessed via CytoDyn’s corporate website at www.cytodyn.com under the Investors section/IR Calendar and will be archived for 30 days. The webcast can also be accessed by investors and interested parties via the following link: https://78449.themediaframe.com/dataconf/productusers/cydy/mediaframe/38783/indexl.html. And a replay of the conference call will be available until July 11, 2020, by dialing 877-660-6853 (US) / 201-612-7415 (international) and entering conference identification number 13705221.