A glance at some of the day's highlights from the Proactive Investors US and Canada newswires
Inc (), the bioprotection and plant health company, is set for a change at its helm, with the news that its founder Dr Pamela Marrone will retire as CEO. The company’s board has already kicked off a search for Dr Marrone’s successor and she will continue as CEO until her replacement is found. fter her retirement, Dr Marrone will remain on Marrone Bio’s board as a non-executive member and also serve as a consultant to the company she founded. Under her reign, the company commercialized 10 products for crop protection and plant health, three of which won industry awards as top biopesticides.
WeedMD Inc () (OTCMKTS:WDDMF) CEO Keith Merker published an open letter to shareholders on Monday providing additional background information regarding its acquisition of Starseed Holdings Inc, the $25 million investment from the Labourers’ Pension Fund of Central and Eastern Canada (LPF) and its recent 27-acre outdoor harvest yield. The note explained that Starssed helps WeedMD realize higher margins, while providing its new partner with a reliable supply of quality cannabis. In total, the acquisition and the LPF investment secured WeedMD $42 million worth of fresh capital. Merker also highlighted the company’s most recent harvest, which included more than eight tons of cannabinoid-rich, saleable cannabis. Shares closed up nearly 7% to C$0.99 in Toronto on the news.
Corp () (OTCMKTS:NUMPF) reported Monday that it approved all matters submitted at its annual general meeting held on November 29. The Vancouver-based explorer also said goodbye to board member John McCluskey, who did not stand for re-election. The firm thanked him for his time and contributions in a statement Monday. As well, shareholders voted almost 95% in favour of the share-based compensation plan and the re-appointment of LLP as auditors. Full results for all matters will be posted on New Pacific’s website. New Pacific is a Canadian exploration and development company which owns the Silver Sand Project in Potosí Department, Bolivia and the Tagish Lake gold project in Yukon, Canada.
() (OTCMKTS:TGODF) announced Monday that it is increasing the size of a bought deal financing plan to raise an addition C$2 million. Late last month, the company entered into an agreement with a syndicate of underwriters led by Corp that has agreed to purchase 29,334,000 units at a price of C$0.75 per unit. TGOD said it intends to use the proceeds to complete the construction of its processing facility in Ancaster, Ontario and for general corporate purposes. The company now is offering up 32 million shares at the same unit price for total proceeds of C$24 million, according to a statement.
() (OTCMKTS:AUSAF) said it has appointed accounting firm Squar Milner LLP as its auditor to replace MNP LLP and finalized a three-year deal with design house, Astound Group, to consolidate brand strategy for Australis' house of brands. Meanwhile, it paid seasoned developer Passport Technology $4,175,000 which includes $375,000 in cash, and 5 million in shares of Body and Mind, and 1,829,219 shares of Australis for creating a self-service kiosk (CocoonPod) for the cannabis industry. Australis Capital aims to build companies through early-stage, opportunistic, and diversified investments in the cannabis value chain in the US and abroad.
() (NYSEAMERICAN:MMX) has entered into a definitive agreement to acquire a portfolio of 25 precious metals royalties from () (NYSE:KGC). In a statement Monday, Maverix said it will issue to Kinross a total of 11.2 million common shares and make a cash payment of US$25 million upon closing of the transaction. Closing is expected to occur on or before December 31, and at which time Kinross will own a 9.4% basic interest in Maverix. Certain royalties in the royalty portfolio are subject to rights of first refusal as well as the requirement for various transfer consents. Any proceeds from the exercise of a right of first refusal will be paid to Maverix, which added that the total consideration for the portfolio could reach $74 million.
() has won a lucrative new contract as Inc (OTCMKTS: BDRBF), the Canadian jet maker, is the latest company to adopt its sustainable jet fuel, which will be put into action at its Montreal facilities. ’s supply deal with Avfuel – a supplier of aviation fuel and services - represents the jet maker’s first step in a plan to forge partnerships to introduce sustainable jet fuel in a bid to reduce its CO2 emissions. “Today, we are proud to offer it for the first time at one of our Canadian facilities and it’s only the beginning,” said David Coleal, president of Bombardier Aviation.
Junior explorer Corp () told investors it has hit near surface, silver mineralization as it posted assays for 75 holes at its wholly-owned Silver sand project in Bolivia. The aim of this year's resource definition program at the property was to add to the geological understanding of the currently defined core. "Drilling continues to intersect broad intervals of vein and fracture controlled, near surface, silver mineralization with results from this program ranging from approximately 50 to 200 metres (m) thick and returning average silver values from 33 to 289g/t," the company said in a statement.
Globex Mining Enterprises Inc () (OTCMKTS:GLBXF) has hired Corp as a financial advisor. In a statement on Monday, the junior explorer said it has “commenced a process to explore and develop additional transactions with a view to enhancing shareholder value.” Canaccord Genuity is an independent global investment bank with experience and exposure to the mining and exploration sectors.
LiteLink Technologies Inc () (OTCMKTS:LLNKF) CEO Ashik Karim told shareholders that the enterprise firm is getting ready to revitalize the Internet of Things sector in 2020. In a letter to shareholders released Monday, the CEO talked about the Vancouver-based company’s plans to increase revenue, market adoption and integration to become a market leader in the logistics technology space. “There is no question that our future growth plans focus on disruption in IOT hardware and sensors, technology, market value, and market differentiators,” Karim wrote.
Mackie Research on Monday repeated a Buy rating on (CVE:KMDP) (OCTMKTS:PDDPF) after it posted second-quarter results showing strong demand for its leading products. Medexus is focused on the therapeutic areas of auto-immune disease and pediatrics. The leading products are Rasuvo and Metoject, designed to treat rheumatoid arthritis and other auto-immune diseases; and Rupall, an innovative allergy medication. “Specifically, Metoject unit market demand increased 115%, Rasuvo unit market demand increased 15%, and Rupall unit market demand increased 66% over the same period last year,” CEO Ken d’Entremont said in a statement on Monday. Those numbers, especially for Rasuvo and Metroject, impressed analysts at Macki, which has a C$10.50 price target.
. () (OTCMKTS:NXTTF), the cannabis product platform, said its CannMart Labs Inc. subsidiary is gaining further traction by forging a licensing agreement with Phyto Extractions, another Canadian cannabis company. The deal gives CannMart Labs its own license to use Phyto trademarks on an array of cannabis products, including cannabis vaporizing pen cartridges, batteries, cannabis capsules and cannabis tincture bottles and jars.
Inc. () (OTCMKTS:FSDDF) said it would initiate Phase 1 safety trials in patients for its lead drug candidate PP 101 micro-PEA in the first quarter of 2020, while reporting financial results for the three and nine months ended September 30. In a statement accompanying the Canadian company’s latest numbers on Friday, CEO Raza Bokhari said: "During the third quarter, we continued to advance our efforts to transform into a specialty, biotech pharmaceutical R&D company focused on developing over time a robust pipeline of FDA approved synthetic compounds targeting the endocannabinoid system of the human body to treat certain diseases of the central nervous system and autoimmune disorders of the skin, GI tract and the musculoskeletal system.”
() told investors it is seeing encouraging signs of a large gold deposit at its Touquoy West project in Nova Scotia as it reported the latest geochemical results. The firm has found more elevated arsenic and gold values from soil survey work, it said. It comes after last month it said two large geochemical anomalies were present, supported by low-level, anomalous gold and lie on what's called the Moose River anticline, which plays host to the Touquoy deposit (part of 's () Touquoy gold mine).
() (OTCMKTS:LMDCF), the Edtech group, says it continues to build new business, which it expects to turn into sales in 2020. The Toronto-based company has reported its third-quarter results to end September - a period, in which it signed new distribution agreements in Ecuador and Mexico and expanded its Primary English program into a further province in China. The group also hired a sales manager to expand sales in Latin America.
(CVE:KMDP) (OTCMKTS:PDDPF) has released fiscal second-quarter results showing a strong year-over-year increase in revenue. For the three months ended September 30, the Montreal-based drugmaker said total revenue was C$16.4 million, compared to revenue of C$3.4 million in the prior-year quarter. “This improvement reflects continued unit sales growth, as well as the increased scale of the company as a result of the acquisitions completed in October 2018,” said CEO Ken d’Entremont in a statement issued Friday.
mCloud Technologies Corp () (OTCMKTS:MCLDF) announced a plan to undergo a 10:1 share consolidation as it eyes uplisting to the TSX and joining the NASDAQ. The move requires approval from the Toronto Stock Exchange Venture, where the mCloud is currently listed in Canada. The artificial intelligence asset management company also trades on the OTC Markets in the US.
() (OTCMKTS:AQSZF) posted third-quarter results after the bell on Friday, which highlighted potential future revenue from a new ophthalmology partnership. “Aequus has continued to advance the business in Q3, signing a key collaboration with Medicom Healthcare [Ltd] which adds a collection of market-ready ophthalmology products along with late-stage development assets to our growing ophthalmology franchise in Canada,” CEO and Chairman Doug Janzen said in a statement. “This collaboration with Medicom fits perfectly into our goals and vision for the franchise. Aequus looks forward to continuing our business development efforts in the coming quarters and finishing the year strong with our current set of revenue-generating products.”
() (OTCMKTS:BKIRF) continues to advance its Shymanivske project in Ukraine and revealed it has received expressions of interest from European banks and export credit agencies to provide between US$250 and US$300 million of debt to construct the mine. As is typical for this sort of development, Black Iron reckons around US$175 million, or 40%, to fund building the site, will come from equity, while the balance, around US$261 million (60%) will be debt.
() (OTCMKTS:GBLEF) says its battery minerals project in Nevada could be a future source of cobalt, nickel and copper for the burgeoning electric vehicle market. The project consists of the Lovelock cobalt mine and the Treasure Box project, which lie around 150 km east of the huge Tesla () Gigafactory in Sparks. Interpreting the results from the drone magnetometer survey is ongoing, put preliminary findings suggest that there are numerous new strong magnetics trends that appear to correlate very well with historic zones of mineralization, GEMC noted.
() reported a 70% growth in revenue in its Pet division during its fiscal second-quarter 2020, according to its latest results released Monday. The cannabis for pets company recently launched CBD supplements for dogs and rolled out the products to retail stores in the US and online. Total revenue from True Leaf’s Pet division was C$707,000, a 24% increase year over year.
Humanigen, Inc. (), a clinical-stage biopharmaceutical company focused on the development of next-generation CAR-T and other cell therapies, announced Monday that it is has terminated the process of exploring a potential rights offering. The group said that after carefully assessing various options, it has initiated other capital raising alternatives better suited to the existing capital structure.
() (OTCMKTS:NABIF), a leading Canadian investment company with specialty investments in assets across multiple divisions of the cannabis sector, announced on Friday that Larry Koza resigned from the company’s board of directors, effective November 22, 2019, in order to focus on other business obligations. Mark Krytiuk, Nabis COO and board chairman, commented, “On behalf of our Board of Directors, I want to thank Larry for his valuable service and contributions during Nabis’ rapid growth and expansion. We wish him the best of luck in his future endeavors.”
. (), operator of financial markets for 10,000 U.S. and global securities, today announced that Ltd. () (OTCMKTS:PCLOF), a company focused on ethical and sustainable processing and supplying of all-natural, medicinal-grade cannabis oil extracts and related products, has qualified to trade on the OTCQX Best Market. Jason Paltrowitz, EVP of Corporate Services at OTC Markets Group commented: " joins more than 60 Canadian listed company to begin cross-trading its shares in the U.S. on the OTCQX Market this year. We are pleased to support companies that are looking to build visibility and provide transparency for their investors in the US public market.”
() (OTCMKTS:IPATF) announced that all resolutions were passed by the shareholders at its annual general meeting held in Vancouver, British Columbia, on November 22, 2019.
() said that at its annual general meeting held in Johannesburg on Monday, 2 December 2019, all the ordinary and special resolutions, as set out in the notice of AGM dated 31 October 2019, were approved by the requisite majority of shareholders present or represented by proxy.
Ltd () said the TSX Venture Exchange has accepted for filing documentation with respect to its brokered private placement, announced on November 7, 2019, which saw the issue of 2 million flow-through shares at a purchase price of $8.35 each with 25 placees.