A glance at some of the day's highlights from the Proactive Investors US and Canada newswires
Inc (NASDAQ:HUGE) (CSE:HUGE.CN) (FRA:0K9A) said Wednesday that the US Food and Drug Administration (FDA) has given the company permission to submit an Investigational New Drug (IND) application for the use of its lead candidate FSD-201, or anti-inflammatory ultra-micronized-palmitoylethanolamide (PEA), to treat coronavirus (COVID-19) patients. The company said that “severe COVID-19” the disease caused by the SARS-CoV-2 virus, is characterized by an “over-exuberant inflammatory response” that may lead to a cytokine storm and ultimately death. is focused on developing FSD-201 for its anti-inflammatory properties to avoid the cytokine storm associated with acute lung injury in hospitalized COVID-19 patients. In a statement, executive co-chairman and chief executive Raza Bokhari said: “FDA’s permission to design a proof-of-concept study in COVID-19 patients evaluating clinical doses of FSD-201 is a paradigm shift for FSD Pharma and is the result of outstanding work conducted by Dr Edward Brennan, president FSD BioSciences, and his team.”
NexTech AR Solutions Corp () () has revealed record revenue and gross profit for the month of May as demand for its new virtual events platform surges. The augmented reality company saw revenue for the month more than double year-over-year to C$1.3 million and gross profit nearly quadruple to C$800,000. “We are firing on all cylinders and having our best month of revenue ever speaks to our sound business strategy and model,” CFO Kashif Malik said in a statement. “I am extremely proud of the team and we are just getting started.”
AgraFlora Organics International Inc () (OTCPK:AGFAF) said its subsidiary, The Edibles and Infusions Corporation (EIC) has submitted its Site Evidence Package to Health Canada for a standard processing license at its edibles manufacturing facility in Winnipeg, Manitoba. The company currently holds a research and development license that it intends to use to develop and perfect the recipes and formulations for client edibles, increasing customer satisfaction, reducing operational risk, and allowing the company to move into revenue quickly once the standard processing license is obtained. Although there is no guarantee on licensing timelines, AgraFlora said its management estimates that the first revenue post-licensing will be delivered in the fourth quarter of 2020.
Versus Systems Inc () () (FSE:BMVA) has updated investors on what it said are “positive recent corporate developments” so far in 2020. The company, which develops an in-game prizing and promotions engine allowing game publishers and developers to offer in-game prizing across mobile, console, PC games, and streaming media, said that in April and May it signed “multiple deals that will drive both revenue and user growth”. “New agreements with Animoca Brands, Kast and HP will bring the potential reach of the Versus rewards platform to over 10 million machines by the end of 2020”, Versus said, adding that the deals will result in “millions of dollars in revenues from the brands” across the second and third quarters of the year as well as “additional and consequential revenues earned from the new users generated by these brand engagements.”
PreveCeutical Medical Inc () () said it has successfully concluded its cannabinoid Sol-gel delivery program which looked at methods of delivering cannabinoid extracts to the central nervous system using soluble gels. PreveCeutical’s chief science officer Dr Mak Jawadekar called the completion of the program a “very significant milestone” for the Vancouver-based company. “We are very excited about the therapeutic opportunities that will be derived from the program and look forward to progressing them through proof of concept studies,” Jawadekar said in a statement.
Inc (), the plant technology firm, has told investors that its plan to bring its new high oleic low linolenic (HOLL) soybean to market has been boosted by a ruling from the United States Department of Agriculture (USDA). The group noted that the soybean been classed as a 'non-regulated article' under the process by the Biotechnology Regulatory Services of the Animal and Plant Health Inspection Service (APHIS), which is an agency of USDA. The Minnesota-based firm said its new HOLL soybean, which has been developed using its proprietary gene-editing technology TALEN, is expected to launch as early as 2022.
Inc () (OTCMKTS:GATGF) announced Wednesday that it has intersected high-grade mineralization in two new holes at its Larder gold project in the prolific Abitibi greenstone belt of northern Ontario. The Canadian gold exploration company said the holes, which include 85.1 gram per ton (g/t) gold (Au) over 3 meters and 8.4 g/t Au over 1.5 meters, further extend the strike length and up plunge mineralized trend at the Bear deposit, one of Gatling's three promising deposits along a 4.5 kilometer trend at Larder. In a statement CEO Nav Dhaliwal said: “Gatling's 2020 ice drilling program has been a great success and we are thrilled with the remarkable strength of the mineralization we have encountered, as well as the 250-meter up plunge and farthest eastern strike length extension to date.”
( has announced plans to deploy its mobile Smart City solution in Pasadena, Texas to improve citizen engagement and address critical challenges due to the coronavirus (COVID-19) pandemic. In a statement, the Austin-based company said the contract marks the first deployment of its Smart City solution, which was announced to the public in April. Phunware’s Smart City solution runs on its Multiscreen-as-a-Service (MaaS) platform and can help city officials quickly identify, locate, and engage employees, citizens, first-responders, volunteers, and even local businesses.
() unveiled a new name on Wednesday to better reflect its focus on primary battery recycling technology. The firm will now become known as American Battery Technology Company, a new identity that showcases its work in lithium-ion battery recycling. In a statement, CEO Doug Cole told shareholders that the new name more accurately conveys its primary focus, mission and strategic vision.
Great Panther Mining Limited (TSE:GPR) (NYSEAMERICAN:GPL) said its operations have restarted again in Mexico, with mining and processing beginning once more at the Topia mine in Durango state. Processing at its other asset in the country - the Guanajuato Mine Complex - is expected to start next week, the precious metals miner said. The move comes amid the coronavirus (COVID-19) pandemic and a Mexican government order adding mining to the list of 'essential services'.
() (OTCMKTS:XXMMF) is poised to get exploring again at its flagship Brett gold property near Vernon in British Columbia, the group revealed on Wednesday. In a statement, the firm told investors it was planning a drone-based magnetometer survey in a bid to further extend a previously identified anomaly west of the Main Zone at the project. The Brett epithermal property spans 20,025 hectares and historical drill intercepts include up to 168 grams per ton (g/t) gold over 1.3 metres (m) core length, while visible gold is common at the property.
GGX Gold Corp () (OTCMKTS:GGXXF) told investors on Wednesday it has now acquired 100% of its flagship Gold Drop project in the famous Greenwood mining camp in southern British Columbia from Ximen Mining () (OTCMKTS:XXMMF). In a statement, the firm also announced a placing to raise C$300,000 gross to fund continued exploration, including diamond drilling and trenching at Gold Drop. The non-brokered private placement will see GGX issue 4 million units at C$0.075 each for gross proceeds of C$300,000. Each unit comprises one share and one full share purchase warrant, which may be exercised for two years at C$0.12 per share. Ximen retains a 2.5% net smelter returns (NSR) royalty on Gold Drop, which GGX can reduce to 1.5% by paying C$1 million.
Renaissance Gold Inc () () revealed that has made the final payment of US$2.4 million to acquire a 100% interest in the Silicon project in Nevada. The company said it will retain a 1% net smelter return royalty on the project, having entered into an agreement with AngloGold in 2017 which provided the option to acquire a 100% interest in the project by paying Renaissance US$3 million by June 21, 2020. In a statement, Renaissance Gold president and chief executive Robert Felder said: "We plan to put the money to work immediately in support of our generative exploration program, to identify and acquire strong targets."
Fidelity Minerals Corp () said the TSX Venture Exchange has accepted for filing documentation relating to the share purchase and sale agreement, dated September 21, 2019, between Cerro Dorado S.A.C, which is 100% beneficially owned by the company, certain individual registered shareholders of Cerro Dorado directed by the company and certain arm's-length individual purchasers regarding the arm's-length sale of Cerro Dorado to the purchasers for an aggregate cash consideration of US$1.43 million. The exchange has been advised that, to date, the company has received US$500,000 of the cash consideration, with the further scheduled payments to be made of: (i) US$300,000 following the Peruvian coronavirus (COVID-19) lockdown; (ii) US$310,000 on June 21, 2020; and (iii) US$320,000 on September 21, 2020. The exchange has been advised that the final transfer of Cerro Dorado to the purchasers will complete at the closing of the transaction, which is expected to occur on September 21, 2020, concurrent with the final payment of cash consideration. A US$95,953 finder's fee is payable to an arm's-length finder in connection with the disposition, of which US$37,500 has been paid with funds received and the remaining amount will be paid pro-rata as further funds are received.
TIMIA Capital Corporation () has announced the results of its 2020 Annual Shareholder Meeting (AGM). Approximately 65% of the total outstanding shares (or 26,855,120 shares) were represented at the AGM with a substantial majority voting in favour of the items on the agenda, being the election of Jan Lederman, Paul Geyer, Robert Napoli, Howard Atkinson, David Demers, Thealzel Lee and Mike Walkinshaw as directors and the appointment of Manning Elliott LLP, Chartered Professional Accountants, as auditors of the company.
. (NYSEAMERICAN:MLSS), a developer of computerized drug delivery instruments that provide painless and precise injections, has announced that it will be presenting at the 2020 Virtual Summer Summit being held on June 9-12. The group said its interim chief Executive officer, Leonard Osser is scheduled to present on Tuesday, June 9 at 11.30am Eastern Time. The presentation will be webcast live on the conference event platform - access details via: https://www.webcaster4.com/Webcast/Page/2038/35125 - and one-on-one meetings will be held throughout the conference via video conference calls. The Investor Summit is an exclusive, independent conference dedicated to connecting smallcap and microcap companies with qualified investors.
. () (OTCQB: PDDPF) has announced that it will be presenting at the 2020 Virtual Summer Summit being held on June 9-12. The group said that its CEO, Ken d’Entremont, CEO and CFO Roland Boivin are scheduled to present on Wednesday, June 10 at 10.20am Eastern Time. The presentation will be webcast live on the conference event platform - which can be accessed here: https://www.webcaster4.com/Webcast/Page/2038/35128 - and One-on-one meetings will be held throughout the conference via video conference calls.