NA Proactive news snapshot: Arizona Silver, EnWave, CUI Global, Exactus UPDATE …

A glance at some of the day's highlights from the Proactive Investors US and Canada newswires

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Arizona Silver Exploration Inc (CVE:AZS) (OTCMKTS:AZASF) has begun a drone-based airborne magnetic survey on portions of its gold and silver Philadelphia project. The goal of surveying the project, located in Mohave County, Arizona, is to map the alteration peripheral to the high-grade vein that is often associated with the upper levels of an epithermal precious metal system. The drone was initially flown over the old Philadelphia mine workings, which revealed a prominent magnetic low extending from roughly the location of the old mine workings, through the area of drilling completed to date and increasing in intensity northward towards the state highway.

EnWave Corporation (CVE:ENW) (OTCMKTS:NWVCF)  will release its 2019 annual consolidated financial results and results for the fourth quarter on December 10 after market close. The company has scheduled a conference call to discuss the results for its fiscal year and 4Q that ended September 30 on December 11 at 6 am PT. CEO Brent Charleton, Executive Chairman John Budreski and CFO Dan Henriques will host the call and a question-and-answer period. Participant access is toll-free at 1-877-407-2988. (DD June 2019)

CUI Global Inc (NASDAQ:CUI), the energy services and tech group, is set for a buy-back of its shares to the tune of $5 million. In a statement, the Oregon-headquartered firm said its board had authorized a share repurchase program."We are pleased to return a portion of the proceeds from the recent divestitures of non-core assets to shareholders in alignment with our continuing efforts to enhance shareholder value," said William J. Clough, executive chairman. "A portion of the proceeds will also be utilized to support our Energy-centric growth strategy," he added. The shares will be repurchased at market prices and the number and the timing of the purchases will be determined at the discretion of the firm. The repurchases may be discontinued at any time.

Exactus Inc (OTCMKTS:EXDI), the Florida-based hemp farm operator, has closed the first tranche of a $2 million senior secured convertible note financing from a single undisclosed institutional investor. The aggregate net proceeds from the note are about $1.94 million, post the deduction of the investor’s discount as well as commissions and other expenses. The note is made up of three tranches. The initial financing consists of the issuance of a note in the principal amount of $833,333 that will be followed by a $277,777 tranche upon the filing of an S1. Lastly, the remaining $833,333 will be distributed once the S1 becomes effective.

Nemaura Medical Inc (NASDAQ:NMRD) announced Wednesday plans to conduct a reverse stock split of its issued and outstanding common stock with a par value of $0.001 per share on a 1-for-10 basis. The reverse split is expected to take effect at the market open on December 5 and each stockholder’s percentage ownership interest in Nemaura remains unchanged, according to a statement. Any fractional shares resulting from the reverse stock split were rounded up to the nearest whole share of common stock. As a result, the number of outstanding shares of common stock are expected to be reduced from about 208.1 million to about 20.8 million outstanding shares. And the authorized shares of common stock are expected to be reduced from 420 million to 42 million.CEO Dr Faz Chowdhury said the company decided on the reverse split to attract a broader universe of institutional investors.

Heritage Cannabis Holdings Corp (CSE:CANN) (OTCMKTS:HERTF) launched its EndoDNA Test Kit in Canada on Wednesday through its partly owned subsidiary Endocanna Health Inc. The Test Kit analyzes hundreds of genes and over 550,000 single nucleotide polymorphisms in humans to generate a personalized report showing how a person’s genetic makeup is affected by cannabinoids and terpenes. The report will help individuals to pick more personalized cannabis products and help them choose formulation, dosage and the best delivery method for their unique needs.

Pacton Gold Inc (CVE:PAC) (OTCMKTS:PACXF) announced a C$6 million financing package on Wednesday for Canadian exploration expenses and for working capital. The resource group says it will place 25 million flow-through shares at C$0.14 each for total gross proceeds of C$3.5 million. It also announced a private placing of around 20.8 million shares at C$0.12 each for total gross proceeds of C$2.5 million. The gross proceeds from the flow-through shares will be used for Canadian exploration expenses, while the proceeds from the non-flow through shares will be used for general working capital.

New Pacific Metals Corp (CSE:NUAG) announced Wednesday that it has acquired a 98% stake in the Silverstrike silver project in Bolivia by making a one-time cash payment of US$1.35 million. The junior miner, whose wholly-owned subsidiary signed the purchase agreement with an arm’s length private Bolivian corporation, said it will cover 100% of the future expenditures of exploration, mining, development and production activities. The agreement has a term of 30 years and renewable for another 15 years without any payment. The project contains extensive silver mining dumps, the results of Spanish colonial mining activities

Fidelity Minerals Corp (CVE:FMN) is working hard to advance its mineral projects amidst difficult market conditions, CEO Ian Graham told shareholders on Wednesday. The Vancouver-based project generator assembled a portfolio of highly prospective mineral projects in Peru, which include its flagship Las Brujas and Cerro El Bronce properties. Graham said in a release that the company is “confident” it can attract interest from larger players to commit exploration funding or acquire the projects outright.

Capstone Turbine Corporation (NASDAQ:CPST), the maker of low-emission, clean-energy microturbines, announced Wednesday that it has won more long-term service contracts. E-Finity Distributed Generation, Capstone’s exclusive distributor for the mid-Atlantic and southeastern US as well as the Caribbean, secured a factory protection plan (FPP) long-term service contracts in the Marcellus and Utica shale regions in the Appalachian Basin covering an additional 2 megawatts (MW) of microturbines for Capstone’s single largest oil and gas end-use customer.

Seelos Therapeutics Inc. (NASDAQ:SEEL) is on the receiving end of good news as it has won a notice of allowance from the US Patent and Trademark Office for its patent 10,493,023, which relates to trehalose, its investigational molecule targeting a number of neurodegenerative conditions related by common protein aggregations. The patent application is titled “Treatment of Protein Aggregation Myopathic and Neurodegenerative Diseases by Parenteral Administration of Trehalose” (application number: 14/889,727).

Harvest One Cannabis Inc (CVE:HVT) (OTCMKTS:HRVOF) announced Wednesday that its subsidiary United Greeneries Ltd will sell its pot products in Alberta after inking a deal with provincial regulators. The subsidiary signed a deal with the Alberta Gaming, Liquor & Cannabis Commission to supply its Captain’s Choice and Royal High line of products throughout the province. United Greeneries cultivates premium cannabis strains at its own facility in Duncan, British Columbia and at a partner facility in Ontario.

Codebase Ventures Inc (CSE:CODE) (OTCMKTS:BKLLF), a venture capital company investing in early-stage technology and cannabis companies, issued an update Wednesday on its portfolio holding firm Arcology’s development of its next-generation enterprise blockchain technology. Codebase Ventures owns a 30% stake in Arcology, which runs a hierarchical blockchain that uses proprietary algorithms and artificial intelligence to eliminate inefficiencies that hinder rival blockchain platforms.

Mineworx Technologies Ltd (CVE:MWX) (OTCMKTS) revealed Tuesday that the US Patent and Trademark Office has issued a patent covering the company's HM X-tract mobile modular mining/extraction process. The Canadian company said Tuesday’s US patent number 10/351,454 is in addition to the earlier patent it received on November 13, 2018 for Mineworx’s HM X-tract mobile modular mining/extraction process.

Helix TCS Inc (OTCMKTS:HLIX) subsidiary BioTrackTHC, which provides cannabis seed-to-sale tracking software, has partnered with I Heart Jane, an e-commerce software providers for dispensaries and US brands. The partnership will enable BioTrackTHC’s more than 2,000 point of sale (POS) customer locations to provide their patrons with Jane’s automated, fully customizable ordering platform.

Mawson Resources Ltd (TSE:MAW) (OTCMKTS:MWSNF) said drilling, geophysical and metallurgical work was underway at its giant Rajapalot project in Finland ahead of an updated resource estimate earmarked for the end of the second quarter next year. The large-scale, 15 km resource expansion drill program aims to infill and extend the Palokas, South Palokas and Raja areas and the first hole at Palokas is nearing target depth of 680 metres. Four drill rigs will be operating by early January when winter conditions allow, said Mawson in the statement.

DXI Energy Inc (TSE:DXI) (OTCMKTS:DXIEF) has closed an upsized brokered private placing, raising almost C$960,000 to convert its natural gas processing facilities at Woodrush in British Columbia into a methanol production facility and for general working capital.  In September this year, the junior oiler unveiled its new strategic direction, which will see it transition to a regional producer of methanol. The firm issued over 31.9 million units at C$0.03 each, bringing in gross proceeds of C$959,832.

VR Resources Ltd (CVE:VRR) (OTCMKTS:VRRCF) told investors Tuesday that drilling at its Ranoke copper-gold project in northern Ontario has been put on hold until January due to the weather conditions. The company said the reconnaissance drilling program that began in November will resume when daylight hours are longer and the weather is more stable. The drill rig itself will remain onsite, allowing for an efficient start-up in January.

The board of Egyptian gold miner Centamin PLC (LON:CEY) have unanimously requested a takeover approach published yesterday by Canadian group Endeavour Mining Corporation (TSE:EDV) (OTCMKTS:EDVMF). In a response published on Wednesday, the London-listed firm said it believed the £1.44bn (C$2.5bn) all-share merger is “skewed in favour of Endeavour’s shareholders and fundamentally undervalues Centamin”, adding that despite owning 47% of the combined company the group would contribute 57% of measured and indicated resources and 69% of inferred resources.

mCloud Technologies Corp (CVE:MCLD) (OTCMKTS:MCLDF), the IoT and AI specialist, announced Wednesday that it had received the approval of the TSX venture exchange for the listing of C$23,507,500 worth of convertible debentures of the firm on the venture as a supplemental listing and they are expected to commence trading under the symbol 'MCLD.DB.A' at the open tomorrow, Thursday December 5. The Debentures were issued pursuant to a debenture offering completed in tranches on June 21, June 28, and July 10 this year and mature on June 30, 2022. Each Debenture is convertible into units of mCloud at the conversion price of C$0.50 a throw. Each unit consists of one company share and one company share purchase warrant.

Arctic Star Exploration Corp (CSE:ADD) said Tuesday's halt in trading in its shares was the result of a technical procedure with the firm's new Cusip number, applied for in conjunction with its recent share consolidation. All technical matters have now been resolved and the company's shares came back to trade at the open December 4, 2019.

OTC Markets Group Inc (OTCMKTS:OTCM) noted that shares in independent community bank Lumby Guaranty Bank (OTCMKTS:LUMB) shares begin trading today on the OTCQX Best Market under the symbol LUMB. The Pembroke, North Carolina-based bank has thirteen branches located throughout the US state. "As the first Native American owned bank in the United States, trading on the OTCQX Best Market will provide Lumbee Guaranty's new and existing shareholders with a public market for efficient trading and price transparency,” said Jason Paltrowitz, executive vice president of corporate services OTC Markets.

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