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NA Proactive news snapshot: Pacton Gold, Pure Gold Mining, RNC Minerals, Universal mCloud

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

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Your daily round-up from the world of Proactive

Pacton Gold Inc (CVE:PAC) (OTCMKTS:PACXF) is building a list of promising drill targets at its Red Lake properties thanks to new Lidar survey data. The junior improved outcrop identification and accelerated the mapping process at the company’s Red Lake, Ontario gold properties, the junior explorer told investors Thursday. The Vancouver-based company recently completed a new Lidar survey over the projects in the historic gold district.

Pure Gold Mining Inc (TSX.V:PGM) (LSE:PUR) (OTCMKTS:LRTNF) released its second quarter earnings Wednesday and outlined a timeline of activity for the forthcoming months as it works towards building its exciting Madsen Red Lake gold mine in Ontario, which is now fully funded. The junior resource group told investors that despite "challenging market conditions", the company had secured access to around C$167.5 million in funding in the last five months. That includes a US$65 million credit facility and a US$25 million gold metal stream with Sprott Resource Lending and a $47.5 million equity raise.

RNC Minerals (TSE:RNX) revealed Thursday that its acquisition of the Higginsville Gold Operations (HGO) is paying off in the form of a 25% reduction in processing costs at its Beta Hunt gold mine in Western Australia. Earlier this month, the company mined the first material from Higginsville’s Baloo open pit. Baloo is seen as a second source of feed material for the Higginsville mill. The Toronto-based miner acquired Higginsville in June to reduce milling costs for the firm's Beta Hunt mine.

Universal mCloud Corp (CVE:MCLD) (OTCQB:MCLDF), the AI and IoT group, reported organic revenue growth of 36% in its second quarter versus the previous three months as it continues to expand all areas of the business. For the quarter ended June 30, the company said revenue grew 36% to C$3 million, compared to C$2.2 million in the first quarter.  Research and development costs were C$1.2 million, while the net loss narrowed to C$1.7 million compared to a loss of C$2.6 million in the second quarter of 2018.

Codebase Ventures Inc (CSE:CODE) (OTCMKTS:BKLFF) subsidiary Arcology is ushering in the era of Blockchain 3.0 with a new platform that integrates industry-leading third party technologies. Vancouver-based Codebase said that Arcology has confirmed that Ethereum Virtual Machines have been integrated into its proprietary blockchain technology to allow developers to seamlessly transfer their existing apps and assets to Arcology’s platform. Arcology is a self-organizing, self-correcting hierarchical blockchain that uses proprietary algorithms, machine learning and artificial intelligence to eliminate inefficiencies that hold back current platforms. 

Canntab Therapeutics Limited (CSE:PILL) (OTCMKTS:CTABF), the cannabis pill developer, has received a boost to its commercialization plans, it revealed Thursday, with a positive finding of patentability for its immediate release cannabidiol formulation. Geneva-based IPRP (the International Preliminary Report on Patentability) has indicated a positive finding of patentability, meaning that, in its opinion, Canntab's formulation is not only patentable but also "novel, non-obvious and useful."

Lexaria Bioscience Corp (CSE:LXX) (OTCMKTS:LXRP), the biotechnology company behind the drug delivery system DehydraTECH, announced Thursday that its subsidiary Poviva Corp had been awarded four patents. The patents, two in the US and two in Australia, bring Lexaria’s total to 15 granted patents, along with 60 pending applications around the world. Collectively, the patents focus on the effective delivery to the body of cannabinoids, anti-inflammatory drugs, nicotine and vitamins.

Next Green Wave Holdings Inc (CSE:NGW) (OTCMKTS:NXGWF) has launched a new CBD line with former motocross star Carey Hart. The brand is called “HartLuck” and the line of products is named “Fix Yourself," designed to help athletes recover after injuries and high-intensity activities. The slate of full spectrum CBD tinctures, salves and gel capsules is now available in select California stores and online.

Data security company GlobeX Data Ltd (CSE:SWIS) announced Thursday that it had launched its DigitalSafe product in Mexico with its partner Telcel, a leading telecommunications company in the country. Part of a suite of products that offer users a higher level of data security, GlobeX’s DigitalSafe is an encrypted password manager, secure data backup, file sharing and email platform. The Vancouver-based company has a portfolio cloud-based storage, document management and collaboration, encrypted emails and secure communication tools. Data is stored in Switzerland, home to some of the strongest privacy protection laws in the world.

Namaste Technologies Inc (CVE:N) (OTCMKTS:NXTFF) is adding a new home grow product to the cannabis company’s online marketplace CannMart. The Toronto-based company announced Thursday that it signed a new agreement with Seedo Corp (OTCMKTS:SEDO) subsidiary Eroll Grow Tech Ltd to sell the fully-automated Seedo home grow device to Namaste’s global customer base. Seedo is an agricultural technology company that produces a fully automated and controlled indoor home growing machine for personal and commercial use to grow hemp, herbs and vegetables.

Harvest One Cannabis Inc (CVE:HVT) (OTCMKTS:HRVOF) filed for and received permission from the TSX Venture Exchange to issue 313,710 shares at C$0.57 per share to an arm's length service provider. The company’s stock closed at C$0.58 on Wednesday.

Progressive Planet Solutions Inc (CVE:PLAN) (OTCMKTS:ASHXF) has received its largest order yet for its glacial moraine rock dust, the company announced Thursday. The natural mineral product is used as a restorative additive to soil because it contains a number of minerals that often become depleted through modern farming. The latest order contains 32 metric tons of the rock and is being shipped out on Thursday, the company said. 

Minera Alamos Inc (CVE:MAI) (OTCMKTS:MAIFF), the Mexico-focused gold mine developer, said it had kicked off a second phase drill program at its Santana project following a successful permitting process. Last week, Minera said it had reached a major milestone and has received an MIA (Manifestacion de Impacto Ambiental) or environmental impact statement. The program, which is expected to continue through late this year, will focus on two aspects: resource expansion drilling at the main Nicho deposit as well as follow-up drilling on several new discoveries made during the first phase work in late 2018.

1933 Industries Inc (CSE:TGIF) (OTCMKTS:TGIFF) has signed a new agreement to provide corporate support to Green Spectrum Trading Inc, a California-based cannabis company. The new partnership transforms the Vancouver-based company into a US multistate operator by establishing a local manufacturing presence for its Alternative Medicine Association-branded products outside of Nevada and expands the footprint of the CBD wellness line. The management services agreement will see 1933 provide operational and accounting services, general management and oversight to the medicinal and recreational cannabis business licencee for a two-year term.

Great Bear Resources (CVE:GBR) is hosting a webinar on September 4 to update shareholders on the company’s progress at Dixie Lake. The junior exploration company is in the midst of a 90,000 metre drill program at the Red Lake, Ontario property. CEO Chris Taylor and vice president exploration Bog Singh will host the webinar at 8am PST/11am EST and will be available to answer questions following the presentation.

Seelos Therapeutics Inc (NASDAQ:SEEL) announced Wednesday that it has granted newly-appointed Chief Scientific Officer Warren Wasiewski a stock option to purchase 97,285 shares. The option is exercisable at $1.60, equal to Seelos’ Monday closing price.

Tinka Resources Ltd (CVE:TK) (OTCPK:TKRFF) said Thursday it has filed the report for its preliminary economic assessment (PEA) for the Ayawilca Zinc zone in Peru, which was reported on July 2 this year. The report was based on an underground ramp-access mine development with a 5,000 tonnes per day (tpd) processing plant. Initial capital expenditure for the mine was put at US$262 million with a pre-tax IRR (internal run rate) of 37.2%. The mine life is 21 years with average head grades of 6.05% zinc, 18.3 g/t (grams per ton) silver, 67.1 g/t indium, and 0.25% lead. The pre-tax NPV (net present value) was pegged at US$609 million using metal prices of US$1.20 per pound zinc, US$18 per ounce silver, and US$0.95 per pound lead on a 100% equity basis.

Exactus Inc (OTCMKTS:EXDI) updated investors on a busy second quarter that saw the company integrate a new acquisition of a 200-acre Oregon hemp farm. The Florida-based healthcare company is pursuing opportunities in hemp-derived cannabidiol (CBD) products. In April 2019, Exactus initiated operations on two 100-acre industrial hemp farms in Oregon after acquiring a majority interest in March.

Hemispherx Biopharma Inc (NYSEAmerican:HEB) reported second-quarter results Thursday that showed impressive balance sheet growth as the company made steady progress with its flagship drug Ampligen that is in clinical trials to treat multiple cancers. As of June 30, Ocala, Florida-based Hemispherx had cash and marketable securities of $2,864,000. That’s more than a million in cash growth over the $1,825,000 it reported on December 31. CEO Thomas K Equels said results from ongoing clinical trials over the next 18 months will act as ‘strong value drivers’ for the stock.

BioLargo Inc (OTCMKTS:BLGO), an environmental science and technology company, posted second-quarter results Thursday marked by growing revenue and slimming losses. The company brought in revenue of $426,000, a 30% jump from the same period a year ago. In particular, sales of CupriDyne Clean, BioLargo’s industrial odor eliminator, increased 31% year-over-year. Its net loss came in at $1.9 million, cutting its 2018 second-quarter net loss nearly in half, to $3.6 million.

Medexus Pharmaceuticals Inc (CVE:MDP) (OTCMKTS:PDDPF) announced Thursday that its US OTC Market shares are now eligible to be traded through the Depository Trust Company. DTC eligibility allows Medexus’ shares to be traded electronically without the transfer of physical share certificates.

Hattie Mclelland contributed to this report

 

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