A glance at some of the day's highlights from the Proactive Investors US and Canada newswires
BevCanna Enterprises Inc () (), a dominant player in the infused cannabis beverages industry, said Thursday that its partnership with award-winning Keef Brands positioned the infused beverage operator “very well for rapid growth” within the US market in anticipation of “positive federal regulatory reform” aimed at US federal cannabis legalization. BevCanna said its North American agreement with Keef Brands leverages the strengths of both companies “to full advantage.” BevCanna will act as the exclusive licensee, manufacturing and distribution partner to the award-winning US line of Keef infused drinks for the Canadian market, and will use the large Keef US manufacturing and distribution network to access the US cannabis market. The US has more than 1,000 dispensaries and delivery services across Colorado, California, Arizona, Nevada, Michigan, Oklahoma, and Puerto Rico, said the company.
Tocvan Ventures Corp () updated Thursday on its conclusions from recent technical studies at its Pilar project in Sonora, Mexico, which the firm believes could be a large epithermal gold-silver system. As reported last month, a significant recent find has been the interpretation of a pipe-like feature, 100 metres (m) in diameter in the east-central part of the property, which may be a feeder pipe related to epithermal mineralization. Notably, this pipe is coincident with the discovery, announced in June, of the high-grade silver East Zone, which contains areas of high-grade gold and high-grade silver. In fact, the two highest silver assay results are in this area, at 317 grams per ton (g/t) from soil sampling and 323 g/t of the precious metal from rock-grab samples, noted Tocvan.
Inc (CVE:VLNS) () (FRA:7LV) posted fiscal third-quarter results that saw its revenue jump 10% year-over-year driven by new brand partnerships, white-label, custom manufacturing agreements and existing contracts. For the period ended August 31, 2020, the Kelowna, British Columbia-based manufacturer of cannabinoid-based products, reported revenue of $18.1 million, compared to $16.5 million in the third quarter of 2019. The company’s gross profit was $7.3 million, or 39.5% of revenue, for the fiscal third quarter, compared to $12.8 million, or 77.8% of revenue, in the same period in fiscal 2019. Valens chalked up the reduction in gross profit to the “pullback in toll extraction volumes,” as the company shifts its focus toward driving “greater white label and custom manufacturing product volumes and sales.”
(CVE:SVM) has announced the results of its exploration program at the TLP mine in Henan province in China. The company said from October 1, 2019, to September 30, 2020, the drilling program at TLP has targeted the down/up-dip and along-strike extensions of known mineralized vein structures in the production areas, adding that exploration drilling and tunneling are continuing at the mine and all other mines at the Ying mining district where the project is located.
CleanSpark, Inc. (), a diversified software and services company, said it has been awarded a $370,000 order for its intelligent automatic transfer switch (ATS) switchgear. The company's intelligent switchgear is used to automatically transfer power supply from a primary source to a backup source when it senses a failure or outage, thus assuring uninterrupted power. These intelligent units also allow the system owner the opportunity to participate in regional energy markets when it makes financial sense to sell surplus power back to the grid. The order represents a follow-on order for a Houston, Texas-based energy developer specializing in natural gas turbine-powered microgrids. The final deployments of these units are expected to be on multiple Texas locations of the nation's largest retail chain.
Inc. (CVE:EXRO) (OTCQB:EXROF) has revealed it it is working with Traktionssysteme Austria (TSA) to develop enhanced commercial vehicles by integrating their traction motor systems with Exro's Coil Driver technology. TSA is a leading manufacturer of electromechanical drives for rail and road vehicles. With over 60 years of experience and a broad product portfolio, they provide their customers with individual solutions of the highest quality. The group has reliable traction drives in operation in 55 countries on all continents of the world. Exro and TSA will collaborate on a technology update for heavy-duty electric vehicles and traction motors and drives, such as delivery vans, buses, and trucks.
Inc () (OTCMKTS:BRGGF) said its ORYX Gaming unit has announced that its iGaming Platform and RGS slots content have been adapted to be fully compliant for the market opening in Germany next year. In a statement, Bragg said these new regulations which include reality check functionality, max win, five-second spin intervals, monthly deposit caps, and maximum stake limits coupled with the removal of autoplay and progressive jackpots, will help German partners to further promote social responsibility and minimize gambling-related harm. ORYX has served the German market since 2013 under a Schleswig Holstein licence, providing iGaming platform and content delivery services to major German operators, such as OnlineCasino Deutschland and Hyperin.
() (), North America's only carrier-neutral parcel pick-up and drop-off network, said that through its partnership with UK-based ZigZag Global, a returns portal for online retailers, it has expanded e-commerce returns services to customers of some of the world's largest retailers. Toronto-based PUDO said that the expansion was through networking the PUDOpoint Counters Network with the ZigZag returns portals in online websites. Increasingly, Canadians and Americans who shop domestically and internationally online, will see PUDOpoint Counters in the returns section of online check-outs, directing them to take returns to the Counters location nearest them, for expedited return, said the company. "We have been partnered with ZigZag Global for more than two years, slowly proving our mettle, flexibility, and ability to scale across a vast landscape," said PUDO CEO Frank Coccia.
American Manganese Inc () (OTCPINK:AMYZF) (FRA:2AM) announced Thursday that it will be participating in the Canadian Secondary Battery R&D Mission to South Korea, part of the InterBattery 2020 event, held October 20-24. American Manganese will be presenting a virtual presentation at the Canadian Secondary Battery Networking Forum on October 21. This sold-out event will also have a presentation recording available, with Korean subtitles. The Canadian Secondary Battery R&D Mission to South Korea is delivered by Global Affairs Canada (GAC), through the Canadian Embassy in Seoul and in collaboration with the National Research Council Industrial Research Assistance Program (NRC IRAP), the company said.
(NYSEAMERICAN:GORO) reported Thursday preliminary consolidated record gold production results for the third quarter ended September 30 of 12,575 gold ounces, 333,761 silver ounces, and significant base metals. Nevada gold production increased by 51% as the production ramp-up phase continues, the company added in a statement. Preliminary record 3Q production from its Nevada Mining unit totaled 7,847 gold ounces, a gold production increase of 51% over the prior quarter. Through the first three quarters of 2020, the unit’s preliminary production numbers totaled 16,747 gold ounces.
Ideanomics () has updated on the sales activities of its Mobile Energy Global (MEG) division for September and the third quarter of 2020. For the period starting September 1 to September 30, the company reported that MEG delivered a total of 423 units, while for the third quarter, running from July 1 to September 30, the division delivered 626 units and invoiced an additional 440, which are pending expected delivery.
District Metals Corp () (OTCMKTS:MKVNF) (FRA:DFPP) has received the final results from the airborne survey over the former Tomtebo mine area in Sweden, which has shown the potential for discovery. The firm's polymetallic Tomtebo project encompasses 5,144 hectares (ha) in the Bergslagen Mining District and the electromagnetic (EM) and magnetic survey was flown over the whole site in July.
Nano One Materials Corp () (OTCPINK:NOMF) (FRA:LBMB) is set to bring in over C$10 million gross from an offering co-led by Eight Capital and Gravitas Securities Inc, the firm has told investors. The lithium-ion battery materials-focused group said up to around 3.67 million units will be offered at C$2.72 each for total gross proceeds of up to C$10,000,080. The net proceeds will be used for research and development (R&D) initiatives, business development, working capital and general corporate purposes.
() said its wholly-owned subsidiary, American Rare Earth LLC, has named Mineral Labs Inc. as its Lab of Record for rare earth element analysis and sampling. The company, a supplier of raw materials to the rapidly growing global infrastructure marketplace, said it will continue its work with Mineral Labs and its partners to not only expand sites within its current operational footprint but also identify high-value targets and deposits for expansion throughout coal-based deposits and coal-based sites. In a statement, Mark Jensen, CEO of commented, "When choosing a laboratory partner for our rare earth division, it was imperative that we have the highest quality of accuracy and timeliness within our sampling and analysis program. We have a long history with Mineral Labs, and they have consistently proven to us again and again that they provide exceptional service and accuracy during our existing sampling programs.
.() said it has completed its shares-for-debt transaction previously announced on August 4, 2020, by issuing 800,000 common shares at a deemed price of 50 cents to settle outstanding debts for $400,000. The hold expiry date on these shares is January 26, 2021. Further, the company announced that it has closed a non-brokered private placement consisting of 1,875,000 flow-through shares at a price of 40 cents per share for gross proceeds of $750,000. Each flow-through share consists of one common share that qualifies as a flow-through share as defined in subsection 66(15) of the Income Tax Act. The net proceeds from the offering will be used by the company for exploration expenses on the company's British Columbia mineral properties. The company paid a cash commission of $52,500 and issued 131,250 finders' warrants to Qwest Investment Fund Management Ltd. The finders' warrants are valid for two years from closing with an exercise price of 40 cents. All securities issued in connection with the flow-through offering will be subject to a hold period expiring February 14, 2021.
A/S (CPH:BIOPOR) has said that all of the new shares under its fully-guaranteed rights issue, announced in September, have been subscribed for, with 64,989,801 of the new shares (equivalent to 97.5%) subscribed for by exercise of pre-emptive subscription rights. As demand for the remaining shares has exceeded the number of new shares not subscribed for by exercise of pre-emptive subscription rights, the remaining shares have been allocated as described in the prospectus. Investors who have been allocated these remaining shares will be informed individually. The company expects to complete the offering when payment of subscription amounts has taken place and the new shares have been registered with the Danish Business Authority, expectedly on October 21, 2020.
(), the operator of financial markets for 11,000 U.S. and global securities, has announced that Earthasia International Holdings Ltd. (HKG:6128) (OTCQX:ETIHY), a graphene products manufacturer in the People's Republic of China, has qualified to trade on the OTCQX Best Market. "We are pleased to welcome Earthasia International Holdings Ltd. to the growing roster of Hong Kong-based companies that trade on OTCQX," said Jason Paltrowitz, executive vice president of Corporate Services at OTC Markets Group. "The OTCQX Market offers companies efficient, cost-effective access to the U.S. capital markets. For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information more broadly available to U.S. investors. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws." Chan Yick Yan Andross, chief executive officer and director of Earthasia International Holdings Ltd added: "We are pleased to be trading on the OTCQX, which will enhance the visibility and accessibility of the Company to US investors. In conjunction with our Hong Kong listing, we can now reach pools of capital in the world's two largest economies, while also raising the profile of our graphene business as electric vehicle sales surge in the US.”
WallStreet Research (WSR), a top-ranked independent research firm with a history spanning over four decades, recently initiated coverage (). The full initiation research report is available at www.wallstreetresearch.org. The WSR report highlighted the company’s recent accomplishments and growth plans for 2020 and 2021, for both the US and Newgioco’s Italian operations. Alan Stone, CEO of WSR stated: “The Company’s acquisitions during the past several years have positioned it for rapid growth in the near term, which the report discusses. Our report includes analytics and metrics on how the Company compares favorably to its industry competitors and highlights the growth trends in the global gaming industry and technology sectors.”
