A glance at some of the day's highlights from the Proactive Investors US and Canada newswires
Vehicles Corp () and updated their valuation for the trendy Canadian electric vehicle car maker based on hopes for the Tofino, the company’s high-performance two-seater electric roadster sports car. The broker's analysts also reiterated a $7.50 price target on the carmaker which is developing the all-electric SOLO, a single passenger vehicle, as well as the Tofino. “We are updating our model and valuation to bring our methods in line with the consensus approach for market leaders. One consequence of this analysis is the relative importance of the Tofino roadster for valuation,” Roth analysts Craig Irwin and Andrew Scutt said in a note to clients. “In our view, the largest catalysts in the next couple of years are likely to come from the selection of a design partner and launching production of the Tofino.”
() () announced Tuesday that its products and strains have been included in University Health Networks’ (UNH) Medical Cannabis Real-World Evidence study. UNH is launching nationwide clinical trials studying the effects of cannabis use on chronic plain, sleep issues, anxiety and depression. Participating patients can select their medical cannabis products using the online portal created by Medical Cannabis by Shoppers Drug Mart. WeedMD is one of the first licensed producers (LPs) to have its products and strains included, the company said.
Canadian biotechnology firm has started human clinical trials of a potential COVID-19 vaccine derived from plants, it said Tuesday. The Quebec-city based firm uses virus-like particles (VLPs) that mimic the shape and dimensions of a virus, allowing the body to develop an immune response in a non-infectious way. The Phase 1 trial will evaluate the plant-based product in 180 healthy participants ranging from ages 18 to 55, with another Phase 2/3 study planned to begin in October.
LexaGene Holdings Inc () () said it has hired a first wave of experienced salespeople ahead of the commercial launch of its flagship analyzer product MiQLab before the end of September this year. In the first round, the firm has hired a director of clinical sales and a veterinary sales representative, Dr Jack Regan, LexaGene’s CEO and founder noted in a statement. "Both have a wealth of experience in their respective fields and will begin working full time for LexaGene. We will continue to hire additional salespeople later in the summer and early fall. It’s very exciting to be at the stage where our first sales are right around the corner,” Regan said.
Inc () has reached a collaboration deal to conduct cell-based research projects with European cell therapy company Educell Ltd, the company announced Tuesday. The two companies will utilize the Cell and Gene Therapy (CGT) Biotech Platform, which includes the company’s point of care (POCare) network and associated technologies. Orgenesis’ POC Network includes leading hospitals and research institutes around the world, the company said. The first collaboration will focus on the development of CAR-T and whole-cell-based vaccine platform for use in cancer immunotherapies. The parties also plan to collaborate with local medical centers.
BevCanna Enterprises Inc () () announced Tuesday that it has entered into a letter of intent with two companies to boost its genetic cannabis library. Under the agreement, BevCanna will gain access to seed preservation company Phemone One Corp’s extensive live genetic cannabis library. The infused beverage company will also be able to use proprietary formulations, standard operating procedures and farming data from private label nutrient company Norstar Nutrients Ltd. The parties plan to enter into a definitive agreement within 45 days of the letter of intent, according to a statement by BevCanna.
Limited (NYSEAMERICAN:VNRX) has revealed promising results from two proof-of-concept clinical studies of its coronavirus (COVID-19) triage test using its flagship Nu.Q test (normally used to detect cancer biomarkers) to predict the likelihood that a positive individual will develop complications and severe disease. The Austin, Texas-based company said the results will be available soon on BIORXIV.ORG and focus on "circulating nucleosomes as potential prognostic markers for COVID-19 disease severity." In a statement, corresponding author Professor Stefan Holdenrieder, who is director of the Institute of Laboratory Medicine, at the German Heart Center, in Munich said: "Given that the highest levels of nucleosomes were found in patients requiring artificial ventilation or extracorporeal oxygenation, we believe that nucleosomes could serve as a guiding biomarker for disease severity in COVID-19 positive patients."
() (OTCMKTS:HLRTF) announced Tuesday that oil production has resumed at its West Hazel asset in western Canada. Production was halted in April and May due to low oil prices related to the effects of the coronavirus (COVID-19) pandemic on worldwide oil demand. In a statement, Hillcrest said daily production rates are stabilizing and still below those when production operations were suspended, but field operations are profitable with current oil prices and significantly reduced operating costs resulting from electrifying the field immediately prior to the shut-in.
In other company news, Hillcrest said Tuesday it will seek TSX Venture Exchange approval to implement an early warrant exercise incentive program to encourage the early exercise of up to 24,166,466 outstanding common share purchase warrants. The company said each eligible warrant can be exercised to acquire one common share at $0.05 per each. To encourage the early exercise of the eligible warrants, Hillcrest said it will apply to the exchange to amend the terms to enable the holders to receive a new warrant for each eligible warrant exercised prior to August 1, 2020 at $0.05 each.
Inc () has reached a collaboration deal to conduct cell-based research projects with European cell therapy company Educell Ltd, the company announced Tuesday. The two companies will utilize the Cell and Gene Therapy (CGT) Biotech Platform, which includes the company’s point of care (POCare) network and associated technologies. Orgenesis’ POC Network includes leading hospitals and research institutes around the world, the company said. The first collaboration will focus on the development of CAR-T and whole-cell-based vaccine platform for use in cancer immunotherapies. The parties also plan to collaborate with local medical centers.
(), a medtech company developing micro-systems based wearable diagnostic devices, revealed Tuesday that iti s evaluating new applications for continuous lactate monitoring (CLM) using its BEAT platform to keep tabs on disease progression in coronavirus (Covid-19) patients. The Loughborough, UK-based company has issued a presentation clearly outlining the potential new application for Covid-19 patients using a CLM product. Nemaura had previously talked about the market for athletic performance monitoring using its non-invasive continuous lactate monitor. Based on recently published independent clinical evaluations, the “measurement of blood lactic acid has been established as an indicator for disease progression in Covid-19 patients,” noted the company.
Karora Resources Inc (), formerly known as RNC Minerals Corp (TSE:RNX), announced Tuesday that well-known Canadian resource investor and gold bull Eric Sprott has agreed to increase his ownership in the company by 26 million shares. In a strategic move, Karora said it has worked alongside () to effectively place the entire planned share issuance previously announced on June 30. In lieu of issuing shares to Maverix, Karora said it will use the proceeds from a total of 36.5 million common shares to be issued to Sprott and one other institutional investor to complete the transaction with an all-cash consideration of US$18 million.
Atlas Engineered Products Ltd () () announced Tuesday it is expanding its geographical footprint into British Columbia’s Lower Mainland region through the acquisition of assets from a local truss manufacturer. Located in the province’s Fraser Valley, the newly-acquired operation will supply Atlas’s engineered wood products like pre-manufactured wall panels and manufactured floor trusses to the Lower Mainland region. The move comes as the engineering company looks to fast-track its expansion plans in the province amidst “significant demand” for its products and services, CEO Dirk Maritz told shareholders in a statement.
Inc () (OTCMKTS:BRGGF) said Tuesday its portfolio company ORYX Gaming has received its international ISO/IEC 27001 certification, a key information security designation. The certification, awarded by the International Organisation for Standardisation (ISO) and the International Electrotechnical Commission (IEC), enables ORYX to continue expanding globally into regulated markets and build its partner database, the group said. Bragg told shareholders in a statement that the designation “(underlines) the supplier’s commitment to information security.”
Corp () (OTCQX:NUPMF) has reported favourable results from infill drilling at its Silver Sand project in Bolivia, which will be used for detailed metallurgical work ahead of a preliminary economic assessment (PEA). The assays hail from four in-fill drilling holes at the project and further demonstrate the continuity of silver mineralization, the Vancouver-headquartered group said in a statement. A highlight was an intersection of 282.01 metres (m) at a grade of 104 grams per ton (g/t) silver in one hole. Another hole showed 121.92 m at 180 g/t silver.
AgraFlora Organics International Inc () () revealed that it has now produced around 1,000 kg of CBD oil with its biomass partner MicroC45, which it is preparing to sell this quarter. The company said it is currently in talks with potential buyers to determine the optimal sales mix of CBD Isolate, CBD Distillate and CBD Crude Oil and expects to close its first bulk transactions this quarter. In June this year, AgraFlora struck a cultivation partnership with MicroC45 for growing hemp in Ontario, Canada.
() (OTCQB:AMHPF) said its CEO Cristiano Veloso acquired 750,000 shares of the company with the exercise of stock options on July 10, 2020. The CEO received the Issuance shares at $0.425 each for a total consideration of $318,750. Prior to the issuance, Veloso held 7,846,339 shares representing approximately 16.49% of the issued and outstanding shares; following the Issuance, he holds 8,596,339 shares representing approximately 17.75% of the issued and outstanding shares, the group noted.
() said the TSX Venture Exchange has consented to an extension in the expiry date of 22,796,832 with an original expiry date of July 25, 2020, to a new expiry date of November 25, 2020, with an unchanged exercise price of 20 cents. These warrants were issued under a private placement of 22,796,832 shares with 22,796,832 share purchase warrants attached, which was accepted for filing by the exchange effective August 19, 2019.
Powerore Inc () said the TSX Venture Exchange has accepted for filing the option agreement dated February 26, 2020, between Powerore and 2736-1179 Quebec Inc., whereby the company has been granted an option to acquire a 100% interest in a land package (9.055 hectares) consisting of two formerly producing mines in Robitaille and Cooke. In consideration of the option, the company will: Pay to 2736-1179 Quebec $450,000 over 60 months; issue to 2736-1179 Quebec three million shares and two million warrants over 60 months. The warrants expire 24 months from the date of issuance and have exercise prices ranging for 10 cents to 25 cents depending on when issued; carry out exploration of $3-million over 60 Months; 2736-1179 Quebec will retain a 2% net smelter return (NSR) royalty. The company has first right of refusal to purchase a 1% NSR royalty at any time prior to commercial production for $1.5 million.
() said the TSX Venture Exchange has accepted for filing documentation with respect to its brokered private placement, announced on May 28, 2020, which will see the issue of 8,599,810 non-flow-through common shares and 4,651,200 flow-through common shares at purchase prices of $2.35 per non-flow-through common share and $4.30 per flow-through common share, together with 6,625,505 share purchase warrants to purchase 6,625,505 non-flow-through common shares at an exercise price of $3.25 for a period of two years, with 100 placees.
Pacton Gold Inc () said the TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement, announced on May 27, 2020, which saw the issue of 5,629,226 shares at a purchase price of 70 cents each with 31 placees. It also said the TSX Venture Exchange had also accepted for filing documentation with respect to a non-brokered private placement announced on June 25, 2020, which saw the issue of 1.3 million flow-through shares at a purchase price of 77 cents each with one placee, , as well as documentation with respect to a non-brokered private placement, announced on June 29, 2020, for 2,122,000 flow-through shares at a purchase price of 79 cents each with three placees.
() () said its board of directors has adopted a new 10% fixed stock option plan, which has been approved by the TSX Venture Exchange (TSXV). Under, the Stock Option Plan - which replaces the company's previous 10% rolling stock option plan - Harvest One may grant options to acquire up to 21,507,948 common shares of the company, representing 10% of the current issued and outstanding common shares, subject to the terms and conditions prescribed by the TSXV, and applicable securities laws. Any options outstanding under the previous stock option plan will be governed by the new Stock Option Plan. The group said the board of directors has contemporaneously granted an aggregate of 10,920,000 under the Stock Option Plan to certain directors, officers and employees of the company for retention purposes, and in recognition of their continuing efforts in assisting the transition to a cannabis-focus CPG company. The options are exercisable at a price of $0.085 per share and will have a term of five years from the date of issuance. The stock option grants are subject to approval by the TSXV.
() said it has completed an at-the-market offering of shares made under a supplement dated February 14, 2019, to the company's prospectus dated March 16, 2018, for an aggregate of 3,716,659 common shares during the months of December 2019, January 2020, February 2020, and June 2020, at offering prices of between US$0.8021 and US$2.05 per common share for aggregate gross proceeds to the company of US$3,428,343.94.
One World Lithium Inc. (OTCMKTS:OWRDF) (CSE:OWLI) (CNSX:OWLI.CN) said the British Columbia Securities Commission has granted the company a further extension for the filing of its annual as well as its first-quarter consolidated interim financial statements, accompanying management's discussion and analysis, and the related CEO and CFO certifications for the three months ended March 31, 2020, until July 30, 2020. The company anticipates that both will be filed on or before July 30, 2020.
. () () has indicated the finalisation of its rebranding exercise for its wholly-owned subsidiary, BLife Therapeutics, which has been publicly formalised through the launching of its new website. Following its announcement regarding the merger with Altum Pharma, the company’s name and branding is now more consistent with its intent to become a major player within the biotechnology space. The new website - http://www.blifetherapeutics.com - provides visitors with an overview of the company’s treatment development pipeline, including information on the trial Phases for each of the treatments.