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News snapshot: Xeris Biopharma, Altaley Mining, First Mining, Fobi AI, FSD Pharma, Trust Stamp UPDATE...

Last updated: 16:30 30 Jan 2023 EST, First published: 10:20 30 Jan 2023 EST

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American Rare Earths Ltd (ASX:ARR) has identified a potential new rare earth deposit in the Halleck Creek District of Wyoming and in doing so has filed 118 unpatented federal lode mining claims at the new County Line prospect area.

Importantly, the County Line claims add approximately 2,113 acres to the growing Halleck Creek Rare Earth District, bringing the total area controlled to 8,165 acres – an increase in total claims within the region of 26%.

Sovereign Metals Ltd (ASX:SVM, AIM:SVML) has received more strong results from a targeted deep infill aircore and push tube core drilling program at the Kasiya Rutile Project in Malawi, the world’s largest rutile deposit.

The results are from 98 aircore holes and 247 push tube holes and have confirmed the consistency of high-grade rutile and graphite mineralisation at depth.

Xeris Biopharma Holdings (NASDAQ:XERS) Inc revealed that the Food and Drug Administration (FDA) granted its subsidiary Xeris Pharmaceuticals Inc, orphan-drug exclusivity (ODE) for Recorlev (levoketoconazole) for the treatment of adult patients with endogenous Cushing’s syndrome, for whom surgery is not an option, or hasn’t worked.

Endogenous Cushing’s syndrome is a rare and potentially fatal endocrine disease caused by chronic elevated cortisol exposure, which is often the result of a benign tumor of the pituitary gland. The tumor tells the body to overproduce high levels of cortisol, which results in symptoms that are distressing to patients.

European Metals Holdings Ltd (AIM:EMH, ASX:EMH, OTCQX:EMHLF) shares advanced in Monday’s trade after its Cinovec lithium development in the Czech Republic has been classified as a strategic project for the Usti region by the EU.

Being classified means Cinovec has priority for grant funding from the Just Transition Fund (JTF) co-funding, it added, ahead of many other projects that have been submitted.

TNR Gold Corp (TSX-V:TNR, OTC:TRRXF) announced that McEwen Mining Inc (TSX:MUX, NYSE:MUX) has provided an update on the Los Azules Copper Project in Argentina, in which TNR holds a 0.4% net smelter returns (NSR) royalty.  

The green energy metals royalty and gold company said on January 26, 2023, McEwen Copper, a 68%-owned subsidiary of McEwen Mining, reported “rich copper values over attractive widths resulting from infill drilling at Los Azules”, which included 108 metres (m) of 1.71% copper.  

T Stamp Inc (NASDAQ:IDAI, EURONEXT:AIID) (Trust Stamp) has announced that it has integrated the Driver License Data Verification (DLDV) system, offered by the American Association of Motor Vehicle Administrators, into its low-code orchestration platform.

Noting that a significant amount of fraud was already prevented by Trust Stamp’s privacy-first Irreversibly Transformed Identity Token, the company said now through its low code solution that it provides commercial and government entities with the real-time capability to verify drivers license/ID information against data from the issuing agency.

Gungnir Resources Inc. (TSX-V:GUG, OTC:ASWRF) has reported final assay results from the central part of the company's Lappvattnet nickel deposit in northern Sweden, including hole LAP22-23 which drilled 12 metres grading 1.02% nickel (Ni) at a down-hole depth of 38 metres.

The central area hosts recently reported high-grade intercepts including 9 metres grading 2.35% Ni (hole LAP22-19) and 5.76 metres grading 4.04% Ni (hole LAP22-25), the company said.

Québec Nickel Corp (CSE:QNI, OTCQB:QNICF) has said it will showcase high-grade nickel-copper-platinum group elements (Ni-Cu-PGE) drill core results from the Fortin Sill Zone at its Ducros project in Québec at the Vancouver Resource Investment Conference, ending today, January 30 2023.

The mineral exploration company said conference attendees are invited to visit company representatives at booth 511 during the two-day event to review some of the impressive high-grade Ni-Cu-PGE core drilled in 2022 and discuss the company’s 2023 exploration plans.

MGC Pharmaceuticals Ltd (LSE:MXC, OTC:MGCLF, ASX:MXC)’s December quarter activity report revealed the group made substantial progress in the lab while also completing its largest-ever order.

In the update, MGC said it continued to focus on ‘progressing’ the investigational new drug application (IND) in the US for the anti-inflammatory CimetrA.

Atlantic Lithium Limited (AIM:ALL, OTCQX:ALLIF, ASX:A11) has posted its latest quarterly activities and cash flow report, as required for its listing in Australia, with the company noting a cash position of A$19.1mln as of the end of December 2022.

Chariot Ltd (AIM:CHAR, OTC:OIGLF) said it has agreed the acquisition of ENEO Water PTE Limited, an African clean water business which is expected to complement its transitional power and green hydrogen businesses.

ENEO utilises an efficient, modular and scalable reverse osmosis technology that can be 100% powered by solar energy to produce desalinated water, Chariot noted in a statement. It is presently building a proof-of-concept project at the largest windfarm in the Republic of Djibouti.

Frontier IP Group PLC (AIM:FIPP, OTC:FGPPF) said its portfolio company, Alusid, has successfully collaborated with Imerys to create commercial floor tiles made from 100% recycled waste, which require less gas and water to manufacture than conventional tiles.

The intellectual property group noted that Alusid and Imerys, a world leader in minerals used for floor tiles, over the last few months have been running two parallel trials to make products using Imerys by-products.

Sustainable biopesticides specialist Eden Research PLC (AIM:EDEN, OTCQB:EDNSF) said its flagship biofungicide, Mevalone, has received authorisation for use in home gardens in Italy.

The product, which is marketed as 3LOGY in the country, has already been given the green light for agricultural use across a wide range of crops.

Tempus Resources Ltd (ASX:TMR, TSX-V:TMRR) had an exciting year of exploration at the Elizabeth Gold Project in Canada, delineating two new high-grade gold veins to bring total veins under development to six on the project tenure.

Of particular note were the Blue Vein and No.9 Vein, newly discovered last year alongside extensions to the West and Main Vein as well as the new Ella Zone.

Aben Resources (TSX-V:ABN, OTCQB:ABNAF) said it has approved a consolidation of the company's common shares on the basis of one post-consolidated share for every 10 preconsolidated shares. Currently, the company has 136,697,345 common shares issued and outstanding. Following the consolidation, the company will have approximately 13,669,734 common shares issued and outstanding. No fractional shares will be issued but will instead be rounded as provided for in Section 83(1) of the Business Corporations Act (British Columbia). In conjunction with the consolidation, the company will be changing its name to Aben Minerals Ltd. The company also intends to change its trading symbol on the TSX Venture Exchange. The company will issue a further news release announcing the effective date in which the company will commence trading under the new name, symbol and Cusip number. The consolidation, name and symbol change remain subject to the approval of the TSX-V.

 

Africa Oil Corp (TSX:AOI) has said it repurchased a total of 321,790 Africa Oil common shares during the period of January 23, 2023, to January 27, 2023, under its previously announced share buyback program. During the period dated January 23, 2023, to January 27, 2023, the company repurchased 115,100 Africa Oil common shares on the TSX and/or alternative Canadian trading systems. The repurchases were carried out by Scotia Capital Inc on behalf of the company. During the same period, the company repurchased 206,690 Africa Oil common shares on Nasdaq Stockholm, and these repurchases were carried out by Pareto Securities on behalf of the company. All common shares repurchased by Africa Oil under the share buyback program will be cancelled. During the period dated January 23, 2023, to January 27, 2023, the company cancelled 745,100 common shares repurchased under the share buyback program.

 

American Eagle Gold Corp (TSX-V:AE) has confirmed the participation of Anthony Moreau, a director of the company, in the closing of its previously announced non-brokered private placement of 10 million units of the company at a price of 20 cents per unit for aggregate gross proceeds of approximately $ 2 million. It said Moreau's allocation was closed as a separate non-brokered private placement offering in the amount of 50,000 units for gross proceeds of $10,000. His units were not issued pursuant to the listed issuer financing exemption under National Instrument 46-106 -- Prospectus Exemptions and are hence subject to a four-month period. The company intends to use the net proceeds from the offering to continue advancing the exploration of the NAK project and for general corporate purposes.

 

Progressive Planet Solutions Inc (TSX-V:PLAN) has said that, subject to regulatory approval, it has engaged the services of Independent Trading Group (ITG) to provide market-making services in accordance with TSX Venture Exchange policies. ITG will trade shares of the company on the TSX-V and all other trading venues with the objective of maintaining a reasonable market and improving the liquidity of the company's common shares. Under the agreement, ITG will receive compensation of $7,000 per month, payable monthly in advance. The agreement is for an initial term of three months effective September 13, 2022, and will renew for additional one-month terms unless terminated. The agreement may be terminated by either party with 30 days notice. There are no performance factors contained in the agreement and ITG will not receive shares or options as compensation. Additionally, Progressive Planet said its board of directors has granted a total of 150,000 stock options to an insider of the company, exercisable at 24.5 cents for a period of three years. All options were granted in accordance with the company's stock option plan.

 

Golden Shield Resources (CSE:GSRI, OTCQB:GSRFF) said it has granted a total of 779,000 incentive stock options to employees, officers, directors and consultants of the company. The options are exercisable at a price of 26.5 cents, have a term of five years, and will vest over a period of 36 months. The options were granted under the company's incentive stock option plan and are subject to regulatory approval.

 

CO2 GRO Inc (TSX-V:GROW, OTCQB:BLONF) said its board of directors has approved the grant of 4,125,000 restricted share units (RSUs) to members of its board of directors, employees and consultants of the company. The RSUs vest upon the completion of various time and performance criteria. Upon vesting, the common shares issuable will be issued by the company within 60 days and require the payment of 11 cents each by the recipient. The RSUs were granted in accordance with the company's 2022 equity incentive plan. The shares will be subject to a four-month-plus-one-day hold period. As of the current date, and including the grant, a total of 10,436,606 common shares of the company are reserved for issuance under the plan with 3,421,064 options remaining for issuance and 5,607,669 RSUs remaining for issuance.

 

Looking Glass Labs said it has granted 3.01 million restricted share units (RSUs) to certain directors, officers and a consultant of the company. The RSUs have a four-month hold period for directors and officers, and vest immediately for the consultant of the company. Each RSU can be redeemed for one common share of the company. Therefore, up to 3.01 million common shares of the company shall be issued pursuant to the redemption of the RSUs. The RSUs are granted pursuant to the terms of the RSU plan approved by the shareholders of the company and are subject to the policies of the NEO Exchange.

 

Voyageur Pharmaceuticals Ltd (TSX-V:VM, OTC:VYYRF) said it has issued a total of 125,322 common shares at a deemed price of 9.974 cents per common share for payment of outstanding debts of $12,500 owed to former directors of the company, and the outstanding debts have been extinguished. The common shares issued by the company have a hold period of four months and one day from the date of issuance in accordance with applicable securities legislation.

 

SpotLite360 IOT Solutions (CSE:LITE) said it has issued $70,000 worth of common shares in the capital of the company in full satisfaction of a debt related to a marketing agreement. Under the debt settlement, the company issued 736,842 shares at a deemed price of 9.5 cents per share to the creditor. All securities issued are subject to a statutory hold period, which will expire on the date that is four months and one day from the date of issuance, in accordance with Canadian securities laws.

 

Metal Energy Corp. (TSX-V:MERG) has provided a video on the wide nickel and copper-cobalt mineralization at the Manibridge Project in the Thompson Nickel Belt, Manitoba. In the video, which can be accessed via the following link: https://www.youtube.com/watch?v=4MTofXRV8ek&ab_channel=TheOreGroup, Metal Energy CEO James Sykes details the recent drill results, expectations for the pending assays, and his vision for Manibridge.

 

Plurilock Security Inc. (TSX-V:PLUR) has announced that its CEO Ian L. Paterson will be participating in the 33rd annual World Outlook Financial Conference on February 3rd and 4th, 2023, at the Westin Bayshore Conference Centre. Paterson is on the speaker agenda presenting the workshop, titled ‘Cybersecurity – Why it MUST Be a Part of Your Investment Portfolio’, and the Plurilock team will be onsite sharing insights and analysis with retail investors throughout the two-day event. Additionally, the Plurilock team will be available for in-person meetings on February 4, 2023. To book a meeting, RSVP to ir@plurilock.com. “We are pleased to be participating in this year’s World Outlook Financial Conference, back live and in-person for the first time since 2020,” commented the Plurilock CEO. “The conference gives Canadian retail investors access to some of the English-speaking world’s top independent market analysts, experts normally unavailable to individuals.”

 

KULR Technology Group Inc (NYSE:KULR) has revealed its February 2023 conference schedule. The firm will participate at the 2023 Intersolar North America (ISNA) and Energy Storage North America (ESNA) Conference from Feb 14-16, and Baird's 2023 Vehicle Technology & Mobility Conference held virtually on Feb 15. For registration information, please visit https://kulrtechnology.com/kulr-sets-february-2023-conference-schedule/.

 

Los Andes Copper Ltd (TSX-V:LA) has closed its previously announced bought deal offering, selling 800,000 common shares at a price of $12.55 per share for aggregate gross proceeds of $10 million. The company intends to use the net proceeds of the offering to advance the Vizcachitas project, cover studies and drilling expenses and for working capital.

 

Power REIT (NYSE-A:PW) announced the estimated Federal income tax treatment of the company's 2022 distributions on its 7.75% Series A Preferred Stock, which can be viewed here: https://www.globenewswire.com/news-release/2023/01/30/2597650/0/en/Power-REIT-Announces-2022-Dividend-Income-Tax-Treatment.html.

 

Silver Bullet Mines Corp. (TSX-V:SBMI, OTC:SBMCF) told investors it is applying to the TSX Venture Exchange to extend all warrants related to its $0.30 round of financing. The warrants have a two-year term, are exercisable at $0.50 and were issued in various tranches from February 6, 2021, to July 8, 2021. The resource projects developer said it is seeking regulatory approval to extend all warrants for one additional year from their original expiry dates. With respect to its Arizona mining and milling operations, the company said it expects to be able to make further disclosure within two weeks.

 

Chesapeake Financial Shares Inc. (OTCQX:CPKF) said that at the January 20, 2023 meeting, the Board of Directors approved a dividend of $0.150 per share to shareholders of record as of March 1, 2023, payable on or before March 15, 2023.

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